Document:

Exhibit 10.8

 Exhibit 10.8 
 EXCHANGE AGREEMENT 
 This EXCHANGE AGREEMENT (this “Agreement”), dated as of
July 31, 2007, is made by and among ITC^DeltaCom, Inc., a Delaware corporation (“Parent”), Interstate FiberNet, Inc., a wholly-owned subsidiary of Parent and a Delaware corporation (the “Company”), and each of
the funds listed on the signature pages hereto under the heading “Babson Entities” (individually, a “Babson Entity” and collectively, the “Babson Entities”). 
 RECITALS 
 WHEREAS, Parent, the
Company, certain subsidiary guarantors of Parent, certain banks, financial institutions and other institutional lenders, Tennenbaum Capital Partners, LLC (as agent), and TCP Agency Services, LLC (as collateral agent), entered into that certain
Securities Purchase Agreement dated as of July 26, 2005, whereby the Company issued third lien, senior secured notes due September 2009 (the “Third Lien Notes”) in the aggregate principal amount of $50.8 million to various
investors, including the Babson Entities; and 
 WHEREAS, the Third Lien Notes are supported by Parent’s full and unconditional
guarantee; and 
 WHEREAS, Parent intends to consummate a recapitalization of its corporate structure as described in Exhibit A
annexed hereto (the “Recapitalization”); and 
 WHEREAS, the Babson Entities have confirmed, among other things, their
intention to exchange $3.815 million of their existing third lien notes (the “Babson Third Lien Notes”) and their ownership in Parent’s Series D Warrants for common stock of Parent, par value $0.01 per share (the
“Common Stock”) in connection with the Recapitalization, and have entered into a commitment letter and lock-up agreement dated as of July 16, 2007 (the “Lock-Up Agreement”); and 
 WHEREAS, subject to the terms and conditions of this Agreement, the Babson Entities agree to exchange the Babson Third Lien Notes for Common Stock, and
Parent agrees to issue to the Babson Entities shares of Common Stock in exchange for the Babson Third Lien Notes. 
 NOW, THEREFORE, in
consideration of the premises and covenants and agreements contained herein, the parties hereto agree as follows: 
 ARTICLE I

 EXCHANGE OF THIRD LIEN NOTES 
 Section 1.1. Exchange of Notes. Upon the terms and subject to the conditions set forth herein and incorporated by reference, the Babson Entities hereby agree to exchange their Babson Third Lien Notes for,
and Parent hereby agrees to issue and deliver to the Babson Entities in exchange for such Notes, a total of 1,259,074 shares of Common Stock (the “Babson Third Lien 

 
Notes Conversion”). Schedule 1 hereto lists, as the date of this Agreement, (i) each Babson Entity, (ii) the amount of Babson
Third Lien Notes held by each Babson Entity, as of the Closing Date, as reflected in the Company’s books and records, (iii) the total amount of Babson Third Lien Notes that will be exchanged, (iv) the amount of cash to be received by
the Babson Entities for Third Lien Notes they own that are not being converted to Common Stock, and (v) the total number of Common Stock that are being issued to such Babson Entity upon effectiveness of the Babson Third Lien Notes Conversion
(the “Conversion Shares”). The Babson Third Lien Notes Conversion will be effective, and the Babson Entities will be deemed to be the holders of the Conversion Shares, as of the closing date of the Recapitalization (the
“Closing Date”). 
 Section 1.2. Deliveries. 
 (a) On the Closing Date, each Babson Entity shall tender to the Company for cancellation all Babson Third Lien Notes held by such Babson Entity, duly
endorsed in blank. 
 (b) Promptly after Closing Date, Parent shall deliver, or cause Parent’s transfer agent for the Conversion Shares
to deliver, to each Babson Entity a share certificate or certificates, each in the name of such Babson Entity, representing the Conversion Shares. 
 ARTICLE II 
 REPRESENTATIONS AND WARRANTIES OF THE BABSON ENTITIES 
 As of the Closing Date, each Babson Entity represents and warrants, severally and not jointly, to Parent and the Company, as follows: 
 Section 2.1. Acquisition for Investment. Each Babson Entity is acquiring the Conversion Shares for its own account, for investment and not
with a view to, or for sale in connection with, the distribution thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”) (it being understood that except as otherwise provided in this Agreement,
the Babson Entity does not agree to hold the Conversion Shares for any minimum or other specific term and reserves the right to dispose of the Conversion Shares at any time in accordance with the Securities Act and state securities laws applicable
to such disposition). 
 Section 2.2 Accredited Investor Status. Each Babson Entity is an “accredited investor,” as
that term is defined in Rule 501(a) of Regulation D under the Securities Act. Each Babson Entity has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits and risks of its investment in
the Conversion Shares and is capable of bearing the economic risks of such investment. Each Babson Entity understands that its investment in the Conversion Shares involves a significant degree of risk. 
 Section 2.3 Sales or Transfer. Each Babson Entity understands that the sale or re-sale of the Conversion Shares has not been and is not being
registered under the Securities Act or any applicable state securities laws, and that the Conversion Shares may not be sold or otherwise transferred unless (a) the Conversion Shares are sold or transferred pursuant to an effective registration
statement under the Securities Act and applicable state securities laws, (b) such 

  

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Babson Entity shall have delivered to the Company an opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of
counsel in comparable transactions) to the effect that the Conversion Shares to be sold or transferred may be sold or transferred pursuant to an exemption from such registration, or (c) the Conversion Shares are sold pursuant to Rule 144 under
the Securities Act. 
 Section 2.4 Lock-Up Agreement. Such Babson Entity, if a party to the Lock-Up Agreement, acknowledges and
understands that the Conversion Shares are subject to the Lock-Up Agreement under the terms of which it is agreeing to, among other things, refrain from offering, selling, issuing, contracting to sell, pledging, or otherwise disposing of, directly
or indirectly, the Conversion Shares for the period specified therein. 
 Section 2.5 Authorization. The execution, delivery and
performance of this Agreement and the Babson Third Lien Notes Conversion are within the Babson Entities’ corporate, partnership or limited liability company, as applicable, powers and have been duly and validly authorized by all requisite
corporate, partnership or limited liability company, as applicable, action. 
 Section 2.6 Valid Existence. Each Babson Entity is
an entity duly organized, validly existing and in good standing under the laws of its jurisdiction of formation. 
 Section 2.7 Binding Agreement. This Agreement has been duly executed and delivered by each Babson Entity, and
it constitutes a valid and binding agreement of such Babson Entity. 
 Section 2.8 Consents; No Violations. Neither the
execution, delivery or performance by the Babson Entities of this Agreement nor the consummation of the conversion contemplated hereby shall (a) conflict with, or result in a breach or a violation of, any provision of the certificate of
incorporation, bylaws or other organizational documents of any Babson Entity, (b) constitute, with or without notice or the passage of time or both, a breach, violation or default, create any lien or charge, or give rise to any right of
termination, modification, cancellation, prepayment, suspension, limitation, revocation or acceleration, under any law, or any provision of any agreement or other instrument to which such Babson Entity is a party or pursuant to which such Babson
Entity or any of its assets or properties is subject, except for breaches, violations, defaults, liens or charges, or rights of termination, modification, cancellation, prepayment, suspension, limitation, revocation or acceleration, which,
individually or in the aggregate, would not materially adversely affect such Babson Entity’s ability to consummate the transactions contemplated by this Agreement, or (c) require any consents, approvals and filings on the part of such
Babson Entity, from or with any governmental entity except for the consents, approvals and filings which, if not made or obtained by such Babson Entity, would not materially adversely affect such Babson Entity’s ability to consummate the
transactions contemplated by this Agreement. 
  

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 Section 2.9 Restrictive Legends. Such Babson Entity acknowledges that the Conversion Shares
shall bear a restrictive legend substantially in the following form: 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO (A) AN
EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAW, (B) AN OPINION OF COUNSEL, IN FORM, SUBSTANCE AND SCOPE REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT
REQUIRED UNDER THE SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAW OR (C) RULE 144 UNDER THE SECURITIES ACT. 
 ARTICLE III 

 REPRESENTATIONS AND WARRANTIES OF PARENT AND COMPANY 
 Parent and Company each represent and warrant to the Babson Entities as follows as of the Closing Date: 
 Section 3.1 Organization, Standing, etc. Parent and each of its subsidiaries is a corporation duly organized and validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, with all
corporate power and authority to own, lease and operate its properties and to conduct its business as currently owned, leased, operated and conducted. 
 Section 3.2 Issuance of Conversion Shares. Upon issuance by Parent, the Conversion Shares will be validly issued, fully paid and non-assessable, free and clear of all liens and encumbrances and not subject
to any preemptive rights, other than any of the foregoing resulting solely from action by the holders of the Conversion Shares. 
 Section 3.3 Corporate Power; Binding Agreement. Parent and the Company have all requisite corporate power and authority to enter into, execute, deliver and perform their obligations under this Agreement and to consummate the
transactions contemplated hereby. This Agreement has been duly authorized, executed and delivered by Parent and the Company, and, assuming the due authorization, execution and delivery thereof by the Babson Entities, constitutes the legal, valid and
binding obligation of Parent and the Company, enforceable against Parent and the Company in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency and other similar laws affecting the enforcement of
creditors’ rights generally and except as enforcement thereof is subject to general principles of equity. 
  

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 Section 3.4 Consents; No Violations. Neither the execution, delivery or performance by Parent
and Company of this Agreement nor the consummation of the transactions contemplated hereby will (a) conflict with, or result in a breach or a violation of, any provision of the certificate of incorporation or bylaws of Parent or the Company,
(b) constitute, with or without notice or the passage of time or both, a breach, violation or default, create any lien or charge, or give rise to any right of termination, modification, cancellation, prepayment, suspension, limitation,
revocation or acceleration, under any law, or any provision of any agreement or other instrument to which Parent or any of its subsidiaries is a party or pursuant to which any of the assets or properties of Parent or any of its subsidiaries is
subject, except for breaches, violations, defaults, liens or charges, or rights of termination, modification, cancellation, prepayment, suspension, limitation, revocation or acceleration, which, individually or in the aggregate, would not materially
adversely affect Parent’s or the Company’s ability to consummate the transactions contemplated by this Agreement, or (c) require any consents, approvals and filings on the part of Parent or the Company on or before the Closing Date
from or with any governmental entity, except for such consents, approvals and filings which, if not made or obtained by Parent or the Company, would not materially adversely affect the ability of Parent and the Company to consummate the transactions
contemplated by this Agreement. 
 ARTICLE IV 
 BABSON REPRESENTATIVE 
 The Babson Entities hereby appoint Richard E. Spencer the Babson
Entities’ exclusive agent to act on the Babson Entities’ behalf with respect to the matters specified in this Article IV. Such representative, or such other representative as the Babson Entities may appoint from time to time to replace
Richard E. Spencer, is hereinafter referred to as the “Babson Representative.” The Babson Representative shall take any and all actions which the Babson Representative believes are necessary or appropriate under this Agreement for
and on behalf of the Babson Entities as fully as if the Babson Entities were acting on their own behalf, including, without limitation, making the deliveries referred to in Section 1.2 and taking any and all other actions specified in or
contemplated by this Agreement to be taken by the Babson Entities prior to, on or after the Closing Date, receiving notice of and defending any claims pursuant to this Agreement, giving notice of and asserting any claims pursuant to this Agreement,
consenting to, compromising or settling claims made pursuant to this Agreement, and engaging counsel, accountants or other representatives in connection with the foregoing matters. Parent and the Company shall have the right to rely upon all actions
taken or omitted to be taken by the Babson Representative pursuant to this Agreement, all of which actions or omissions shall be legally binding upon each of the Babson Entities. 
  

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 ARTICLE V 
 MISCELLANEOUS 
 Section 5.1 Severability. Whenever possible, each provision of this
Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid or unenforceable in any respect, such invalidity or unenforceability shall not render
invalid or unenforceable any other provision of this Agreement. 
 Section 5.2 Survival of Representations and Warranties. All
representations and warranties set forth in this Agreement or in any writing delivered by any party in connection herewith shall survive the transactions contemplated by this Agreement to be consummated on the Closing Date (regardless of any
investigation, inquiry, or examination made by any party or on its behalf or any knowledge of any party or the acceptance by any party of any certificate or opinion) for a period of one year following the Closing Date. 
 Section 5.3 Enforcement. The parties hereto agree that (a) irreparable damage would occur in the event that any of the provisions of
this Agreement were not performed in accordance with their specific intent or were otherwise breached and (b) the parties shall be entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement and to
enforce specifically the terms and provisions hereof, in addition to any other remedy to which they may be entitled by law or equity. 
 Section 5.4 Successors and Assigns. Except as otherwise expressly provided herein, (a) all covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the
benefit of the respective successors, assigns, heirs and legal representatives of the parties hereto, whether so expressed or not, and (b) no party may assign or delegate all or any portion of its rights, obligations or liabilities under this
Agreement without the prior written consent of each other party to this Agreement; provided, that any such consent required to be given by the Babson Entities shall be effective if given by the Babson Representative. 
 Section 5.5 Entire Agreement. This Agreement (including the Exhibits and Schedule hereto) constitute the full and entire understanding and
agreement between the parties with regard to the subject matter hereof, and no party shall be liable or bound to any other in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein.

 Section 5.6 Notices. All notices, demands, requests, consents or other communications to be given or delivered under or by
reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given (a) when delivered personally to the recipient, (b) when telecopied to the recipient (with hard copy sent to the recipient by reputable
overnight courier service (charges prepaid) that same day) if telecopied before 5:00 p.m. New York City time on a business day, and otherwise on the next business day, (c) one business day after being sent to the recipient by reputable
overnight courier service (charges prepaid) or (d) on the first business day that is at least five days after the date of deposit thereof in the United States mails for delivery by certified mail. Such notices, demands, requests, consents and
other communications shall be sent to the following persons at the following addresses: 
  

	 	(i)	if to Parent or the Company, to: 

 ITC^DeltaCom, Inc.

 7037 Old Madison Pike 
 Huntsville, Alabama 35806 
 Telecopy No.: (256) 382-3936 
 Attention: J. Thomas Mullis, Esq. 
   Senior Vice President–Legal and Regulatory 
  

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 With a copy to: 
 Skadden, Arps, Slate, Meagher & Flom LLP 
 Four Times Square 
 New York, NY 10036 
 Attention: J. Gregory
Milmoe 
 Facsimile: (917) 777-3770 
 and 
 Hogan & Hartson LLP 
 8300 Greensboro Drive, Suite 1100 
 McLean, VA 22102 
 Attention: Richard J. Parrino 
 Facsimile:
(703) 610-6200 
  

	 	(ii)	if to the Babson Entities, to: 

 Babson Capital Management
LLC 
 1500 Main Street, Suite 2200 
 Springfield, MA 01115 
 Telecopy No.: (413) 226-2649 
 Attention: Richard E. Spencer, II 
 or to such other address or to the attention of such other person as the recipient party
has specified by prior written notice to the sending party. 
 Section 5.7 Amendments; Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given without the written consent thereto of Parent, the Company, and the Babson
Representative. Notwithstanding the foregoing, any such amendment, modification, supplement, waiver or consent with respect to a matter that relates exclusively to the rights or obligations of a particular Babson Entity and that does not directly or
indirectly affect the rights or obligations of any other Babson Entity, may be entered into or given solely by Parent, the Company and such affected Babson Entity; provided, however, that the provisions of this sentence may not be
amended, modified or supplemented, and no waiver or consent to departure from such provisions may be given, except in accordance with the provisions of the immediately preceding sentence. 
  

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 Section 5.8 Counterparts. This Agreement may be executed simultaneously in two or more
counterparts, any one of which need not contain the signatures of more than one party, but all such counterparts taken together shall constitute one and the same Agreement. 
 Section 5.9 Headings. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive part
of this Agreement. 
 Section 5.10 Governing Law. This Agreement shall be governed in all respects, including validity,
interpretation and effect, by the laws of the State of Delaware applicable to contracts executed and to be performed wholly within such state. 
 Section 5.11 Exclusive Jurisdiction; Venue. Any process against the Company, Parent or a Babson Entity in, or in connection with, any suit, action or proceeding arising out of or relating to this Agreement or the transactions
contemplated hereby, may be served personally or by certified mail pursuant to the notice provision set forth in Section 5.6 with the same effect as though served on it personally. Each of the parties hereto hereby irrevocably submits in any
suit, action or proceeding by the parties hereto arising out of or relating to this Agreement or any of the transactions contemplated hereby, to the exclusive jurisdiction and venue of the federal and state courts of the State of Delaware and
irrevocably waives any and all objections to exclusive jurisdiction and review of venue that any such party may have under the laws of the State of Delaware or the United States. Without limiting the other remedies, this Agreement shall be
enforceable by specific performance. 
 Section 5.12 Waiver of Jury Trial. Parent, the Company and the Babson Entities
hereby waive any right they may have to a trial by jury in respect of any action, proceeding or litigation directly or indirectly arising out of, under or in connection with this Agreement. 
 Section 5.13 Delivery by Facsimile. This Agreement and each other agreement or instrument entered into in connection herewith or contemplated
hereby, and any amendments hereto or thereto, to the extent signed and delivered by means of a facsimile machine, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding
legal effect as if it were the original signed version thereof delivered in person. At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute original forms thereof and deliver
them to all other parties. No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the
use of a facsimile machine as a defense to the formation or enforceability of a contract, and each such party forever waives any such defense. 
 [The remainder of this page is intentionally left blank] 
  

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 IN WITNESS WHEREOF, the Company and the Babson Entities have caused this Agreement to be duly executed as
of the date first written above. 
  

			
	FOR PARENT
	
	ITC^DELTACOM, INC.
		
	By:	 	/s/ J. Thomas Mullis
	Name:	 	J. Thomas Mullis
	Title:	 	Senior Vice President–Legal and Regulatory
	
	FOR COMPANY
	
	INTERSTATE FIBERNET INC.
		
	By:	 	/s/ J. Thomas Mullis
	Name:	 	J. Thomas Mullis
	Title:	 	Senior Vice President–Legal and Regulatory

			
	BABSON ENTITIES
	
	 MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

		
	By:	 	Babson Capital Management LLC, as Investment Advisor

					
		
	By:	 	/s/ Richard E. Spencer, II
		 	Name:	 	Richard E. Spencer, II
		 	Title:	 	Managing Director

					
	
	MASS MUTUAL CORPORATE INVESTORS
		
	By:	 	/s/ Richard E. Spencer, II
		 	Name:	 	Richard E. Spencer, II
		 	Title:	 	Vice President

 The foregoing is executed on behalf of MassMutual Corporate Investors, organized under a Declaration of
Trust, dated September 13, 1985, as amended from time to time. The obligations of such Trust are not personally binding upon, nor shall resort be had to the property of, any of the Trustees, shareholders, officers, employees or agents of such
Trust, but the Trust’s property only shall be bound. 

					
	MASS MUTUAL PARTICIPATION INVESTORS
		
	By:	 	/s/ Richard E. Spencer, II
		 	Name:	 	Richard E. Spencer, II
		 	Title:	 	Vice President

 The foregoing is executed on behalf of MassMutual Participation Investors, organized under a Declaration of
Trust, dated April 7, 1988, as amended from time to time. The obligations of such Trust are not personally binding upon, nor shall resort be had to the property of, any of the Trustees, shareholders, officers, employees or agents of such Trust,
but the Trust’s property only shall be bound. 
  

					
	WINTERSET MASTER FUND LP
		
	By:	 	Babson Capital Management LLC, as Investment Manager
		
	By:	 	/s/ Richard E. Spencer, II
		 	Name:	 	Richard E. Spencer, II
		 	Title:	 	Managing Director

  

					
	MILL RIVER MASTER FUND LP
		
	By:	 	Babson Capital Management LLC, as Investment Manager
		
	By:	 	/s/ Richard E. Spencer, II
		 	Name:	 	Richard E. Spencer, II
		 	Title:	 	Managing Director

					
	J/Z CBO (DELAWARE) LLC
		
	By:	 	Babson Capital Management LLC, as Collateral Manager
		
	By:	 	/s/ Richard E. Spencer, II
		 	Name:	 	Richard E. Spencer, II
		 	Title:	 	Managing Director

  

					
	TOWER SQUARE CAPITAL PARTNERS, LP
		
	By:	 	Babson Capital Management LLC, as Investment Manager
		
	By:	 	/s/ Richard E. Spencer, II
		 	Name:	 	Richard E. Spencer, II
		 	Title:	 	Managing DirectorExhibit 10.9

 Exhibit 10.9 
 SERIES A PREFERRED STOCKHOLDER AGREEMENT 
 THIS SERIES A PREFERRED STOCKHOLDER AGREEMENT (this
“Agreement”), dated as of July 31, 2007, is made among ITC^DeltaCom, Inc., a Delaware corporation (the “Company”), and each of the persons listed on the signature pages hereto under the heading “Series A
Preferred Stockholders” (individually, a “Holder” and collectively, the “Holders”). 
 RECITALS

 WHEREAS, the Company intends to consummate a recapitalization (the “Recapitalization”) in which, among other
transactions, 50.0% of the outstanding shares of the Company’s 8% Series A Convertible Redeemable Preferred Stock, par value $0.01 per share (the “Series A Preferred Stock”), held by each holder of record shall be converted
into shares of the Company’s Common Stock, par value $0.01 per share (the “Common Stock”), and the remaining 50.0% of the outstanding shares of Series A Preferred Stock shall be redeemed by the Company; 
 WHEREAS, the Holders are the holders of record of outstanding shares of Series A Preferred Stock
representing at least 66  2/3% of the voting power of all outstanding shares of Series A Preferred Stock;
and 
 WHEREAS, subject to the terms and conditions of this Agreement, the Holders wish to authorize an amendment to the certificate
of designation of the Series A Preferred Stock to effectuate the conversion of 50.0% of the outstanding shares of Series A Preferred Stock into shares of Common Stock (the “Series A Preferred Stock Conversion”) and the redemption of
the remaining 50.0% of the outstanding shares of Series A Preferred Stock (the “Series A Preferred Stock Redemption”) as of the closing date of the Recapitalization (the “Closing Date”); 
 NOW, THEREFORE, in consideration of the premises and the mutual representations, warranties, covenants and agreements set forth in this Agreement, the
parties hereto agree as follows: 
 ARTICLE I 
 SERIES A PREFERRED STOCK CONVERSION 
 Section 1.1 Approval of Series A Preferred Stock
Conversion. Concurrently with each Holder’s execution of this Agreement, such Holder has executed an irrevocable proxy in the form of Exhibit A hereto (the “Proxy”). The Proxy authorizes the persons named in the
Proxy (collectively with any authorized persons substituted therefor, the “Proxy Holders”), as each Holder’s proxy and attorney-in-fact, to vote to approve, or to consent in writing to, the adoption of resolutions that will
constitute the approval by the Holders of an amendment (the “Series A Amendment”) to the certificate of designation of the Series A Preferred Stock (the “Series A Certificate”) in substantially the form of
Exhibit B hereto. 

 
Following such vote or consent, the Series A Preferred Stock Conversion will be effective as of the Closing Date immediately after the filing by the Company
of the Series A Amendment with the Delaware Secretary of State. 
 Section 1.2 Conditions to Series A Preferred Stock Conversion.
Following approval thereof in accordance with Section 1.1, the Company shall be authorized to file the Series A Amendment with the Delaware Secretary of State only if, concurrently with such filing and the effectiveness of the Series A
Preferred Stock Conversion: 
 (a) the Company and its subsidiaries shall obtain (i) not less than $305 million aggregate principal
amount of secured term loan credit facilities for immediate application to the refinancing and repayment of their outstanding senior secured indebtedness and (ii) a secured revolving credit facility with available borrowings of up to a maximum
of $10 million principal amount at any time outstanding; 
 (b) the Company shall receive cash gross proceeds of not less than $21 million
from sales of its Common Stock and cash gross proceeds of not less than $41 million from sales of a new issue of its 6% Series H Convertible Redeemable Preferred Stock, par value $0.01 per share (the “Series H Preferred Stock”);

 (c) holders of approximately $52 million in aggregate principal amount of the third lien Senior Secured Notes due 2009 of Interstate
FiberNet, Inc. shall exchange such notes for approximately 17,275,791 shares of Common Stock; and 
 (d) the Company shall consummate the
other components of the Recapitalization on terms that would make the representation and warranty of the Company set forth in Section 3.2 true in all material respects. 
 Section 1.3 Issuance of Conversion Shares. 
 (a) Upon effectiveness of the Series A Preferred Stock Conversion, 50.0% of the outstanding shares of Series A Preferred Stock held by each holder of record as of the Closing Date shall automatically be converted at a
conversion price of $5.77484278752148 per share of Common Stock into a total of 1,747,924 shares of Common Stock, subject to increase if the Corporation shall elect to round fractional shares of Common Stock up to the nearest whole share of Common
Stock (the “Conversion Shares”). 
 (b) Schedule 1 hereto lists, as of July 20, 2007, in addition to the items
described in Section 2.1(b) and other items, (i) each holder of record of the Series A Preferred Stock, (ii) the total number of shares of Series A Preferred Stock held by such holder as reflected in the Company’s stock records
and (iii) the total number of Conversion Shares that would be issuable to such holder upon effectiveness of the Series A Preferred Stock Conversion. 
 Section 1.4 Deliveries. In accordance with the Series A Certificate, as promptly as reasonably practicable after the Closing Date, upon receipt from each Holder of certificates representing the shares of
Series A Preferred Stock held by such Holder pursuant 

  

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to one or more letters of transmittal, the Company shall deliver, or cause the Company’s transfer agent for the Common Stock to deliver, to each Holder
a share certificate or certificates representing the Conversion Shares issued by the Company to such Holder upon the effectiveness of the Series A Preferred Stock Conversion. The certificates representing the Conversion Shares shall not bear legends
restricting the transferability of the Conversion Shares under applicable securities laws. 
 ARTICLE II 
 SERIES A PREFERRED STOCK REDEMPTION 
 Immediately following the time of the Series A Preferred Stock Conversion, the Corporation shall redeem the remaining outstanding shares of Series A Preferred Stock held by each holder of record at such time (the “Redemption
Shares”), pursuant to the terms of Sections 5.1 and 5.3 of the Series A Certificate, as amended by the Series A Amendment. Schedule 1 hereto lists, for each holder of record of the Series A Preferred Stock, based on such
holder’s record holdings of shares of Series A Preferred Stock as of July 20, 2007, the aggregate Optional Redemption Price (as such term is defined in the Series A Certificate) to be paid by the Corporation for all of such holder’s
Redemption Shares. 
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES OF THE COMPANY 
 The Company represents and warrants to, and agrees with, each Holder as of the date
hereof and as of the Closing Date as follows: 
 Section 3.1 Organization, Standing, etc. The Company and each of its
subsidiaries is a corporation duly organized and validly existing and in good standing under the laws of the jurisdiction in which it is incorporated, with all corporate power and authority to own, lease and operate its properties and to conduct its
business as currently owned, leased, operated and conducted. 
 Section 3.2 Capital Stock. As of the Closing Date, after giving
effect to the Recapitalization and the other transactions to occur on the Closing Date, (a) the authorized capital stock of the Company will consist of 350,000,000 shares of Common Stock and 50,000,000 shares of preferred stock, par value $0.01
per share, (b) up to a maximum of 68,000,000 shares of Common Stock will be issued and outstanding, (c) 412,215 shares of Series H Preferred Stock will be issued and outstanding, (d) options to acquire up to a maximum of 650,000
shares of Common Stock pursuant to the ITC^DeltaCom, Inc. Amended and Restated Stock Incentive Plan and the ITC^DeltaCom, Inc. Executive Stock Incentive Plan (together, the “Stock Incentive Plans”) will be issued and outstanding,
(e) restricted stock units for up to a maximum of 4,790,768 shares of Common Stock will be issued and outstanding pursuant to the Stock Incentive Plans, (f) up to a maximum of 670,453 shares of Common Stock will be reserved and available
for issuance pursuant to future awards under 

  

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the Stock Incentive Plans, (g) up to a maximum of 340,000 shares of Common Stock will be reserved for future issuance pursuant to the Company’s
common stock purchase warrants originally issued on October 29, 2002 and expiring on October 29, 2007 and (h) neither the Company nor any of its subsidiaries will be obligated to issue, deliver or sell, or cause to be issued,
delivered or sold, additional shares of capital stock or other voting securities of, or securities convertible into, or exchangeable or exercisable for, shares of capital stock or other voting securities of, the Company or any of its subsidiaries.

 Section 3.3 Issuance of Conversion Shares. Upon issuance by the Company, the Conversion Shares will be validly issued, fully
paid and non-assessable, free and clear of all Liens (as such term is defined in the Series A Certificate) and not subject to any preemptive rights. 
 Section 3.4 Authorization; Enforceability. The Company has all requisite corporate power and authority to enter into, execute, deliver and perform its obligations under this Agreement and to consummate the
transactions contemplated hereby. This Agreement has been duly authorized, executed and delivered by the Company, and, assuming the due authorization, execution and delivery thereof by the Holders, constitutes the legal, valid and binding obligation
of the Company, enforceable against the Company in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency and other similar laws affecting the enforcement of creditors’ rights generally and except
as enforcement thereof is subject to general principles of equity. 
 Section 3.5 Consents; No Violations. Neither the execution,
delivery or performance by the Company of this Agreement nor the consummation of the transactions contemplated hereby will (a) conflict with, or result in a breach or a violation of, any provision of the certificate of incorporation or bylaws
of the Company, (b) constitute, with or without notice or the passage of time or both, a breach, violation or default, create any lien or charge, or give rise to any right of termination, modification, cancellation, prepayment, suspension,
limitation, revocation or acceleration, under any law, or any provision of any agreement or other instrument to which the Company or any of its subsidiaries is a party or pursuant to which any of the assets or properties of the Company or any of its
subsidiaries is subject, except for breaches, violations, defaults, liens or charges, or rights of termination, modification, cancellation, prepayment, suspension, limitation, revocation or acceleration, which, individually or in the aggregate,
would not materially adversely affect the Company’s ability to consummate the transactions contemplated by this Agreement, or (c) require any consents, approvals and filings on the part of the Company from or with any governmental entity,
except for such consents, approvals and filings which, if not made or obtained by the Company, would not materially adversely affect the Company’s ability to consummate the transactions contemplated by this Agreement. 
  

 4 

 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES OF THE HOLDERS 
 Each Holder severally and not jointly represents and
warrants to, and agrees with, the Company as of the date hereof and as of the Closing Date as follows with respect to the Conversion Shares it will acquire upon the Series A Preferred Stock Conversion: 
 Section 4.1. Acquisition for Investment. Such Holder is acquiring the Conversion Shares for its own account, for investment and not with a
view to, or for sale in connection with, the distribution thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”) (it being understood that except as otherwise provided in this Agreement, such
Holder does not agree to hold the Conversion Shares for any minimum or other specific term and reserves the right to dispose of the Conversion Shares at any time in accordance with the Securities Act and state securities laws applicable to such
disposition). 
 Section 4.2. Accredited Investor Status. Such Holder is an “accredited investor,” as that term is
defined in Rule 501(a) of Regulation D under the Securities Act. Such Holder has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits and risks of its investment in the Conversion Shares
and is capable of bearing the economic risks of such investment. Such Holder understands that its investment in the Conversion Shares involves a significant degree of risk. 
 Section 4.3. Information. Such Holder and its advisers have been furnished with all materials relating to the business, finances and
operations of the Company and its subsidiaries and materials relating to the Series A Preferred Stock Conversion and the Recapitalization and related transactions which have been requested by such Holder or its advisers. Such Holder and its advisers
have been afforded the opportunity to ask questions of the Company’s management concerning each of the foregoing matters. 
 Section 4.4 Sale or Transfer. Such Holder understands that the sale or re-sale of the Conversion Shares has not been and is not being registered under the Securities Act or any applicable state securities laws, and that the
Conversion Shares may not be sold or otherwise transferred unless (a) the Conversion Shares are sold or transferred pursuant to an effective registration statement under the Securities Act and applicable state securities laws or (b) the
Conversion Shares are sold or transferred pursuant to an exemption from such registration. 
 Section 4.5 Residency. In the case
of any Holder that is not a natural person, the principal offices of such Holder are located at the address set forth on the signature pages hereof. In the case of any Holder that is a natural person, the principal residence of such Holder is
located at the address set forth on the signature pages hereof. 
 Section 4.6 Organization. In the case of any Holder that is
not a natural person, such Holder is an entity duly organized, validly existing and in good standing under the laws of its jurisdiction of formation. 
 Section 4.7 Due Authorization. Such Holder has the requisite power and authority to enter into, execute, deliver and perform its obligations under this Agreement and to consummate the transactions
contemplated hereby. The execution and delivery by such Holder of this Agreement and the compliance by such Holder with each of the provisions of 

  

 5 

 
this Agreement (a) are within the power and authority of such Holder and (b) have been duly authorized by all necessary action on the part of such
Holder. This Agreement has been duly and validly executed and delivered by such Holder. Assuming the due authorization, execution and delivery thereof by the Company, this Agreement constitutes a valid and binding obligation of such Holder,
enforceable against such Holder in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency and other similar laws affecting the enforcement of creditors’ rights generally and except as enforcement thereof
is subject to general principles of equity. 
 Section 4.8 Consents: No Violations. Neither the execution, delivery or
performance by such Holder of this Agreement nor the consummation of the transactions contemplated hereby shall (a) in the case of any Holder that is not a natural person, conflict with, or result in a breach or a violation of, any provision of
the certificate of incorporation, bylaws or other organizational documents of such Holder, (b) constitute, with or without notice or the passage of time or both, a breach, violation or default, create any lien or charge, or give rise to any
right of termination, modification, cancellation, prepayment, suspension, limitation, revocation or acceleration, under any law, or any provision of any agreement or other instrument to which such Holder is a party or pursuant to which such Holder
or any of its assets or properties is subject, except for breaches, violations, defaults, liens or charges, or rights of termination, modification, cancellation, prepayment, suspension, limitation, revocation or acceleration, which, individually or
in the aggregate, would not materially adversely affect such Holder’s ability to consummate the transactions contemplated by this Agreement, or (c) require any consents, approvals and filings on the part of such Holder, from or with any
governmental entity except for the consents, approvals and filings which, if not made or obtained by such Holder, would not materially adversely affect such Holder’s ability to consummate the transactions contemplated by this Agreement.

 ARTICLE V 
 COVENANTS

 Section 5.1 Public Announcements. The Company and the Holders shall consult with each other before issuing any press release
or make any public statement with respect to this Agreement or the transactions contemplated hereby and shall not issue any such press release or make any such public statement with respect thereto without the prior consent of the other party, which
consent shall not be unreasonably withheld, delayed or conditioned, except that the Company may, without the prior consent of any Holder, and any Holder may, without the prior consent of the Company, issue such a press release or make such a public
statement as may be required by law; provided, that, to the extent time permits, such party shall have used commercially reasonable efforts to consult with the other party before issuing any such press release or making any such public
statement. 
 Section 5.2 Further Assurances. At any time or from time to time after the date of this Agreement, the Company, on
the one hand, and each Holder, on the other hand, agree to cooperate with each other and, at the request of any other party, to execute and deliver any further instruments or documents and to take all such further actions as such other party may
reasonably request in order to evidence or effectuate the consummation of the transactions contemplated by this Agreement and otherwise to carry out the intent of the parties hereunder. 
  

 6 

 Section 5.3 Confidential Treatment of Confidential Information. In the event any Holder
(including its officers, employees, counsel, accountants, financial advisers, partners and other authorized representatives) obtains from the Company or any of its subsidiaries any Confidential Information (as defined in this Section 5.3), such
Holder (a) shall treat all such Confidential Information as confidential, (b) shall use such Confidential Information only for purposes of evaluating the transactions contemplated by this Agreement and (c) shall not disclose such
Confidential Information to any third party except to such officers, employees, counsel, accountants, financial advisers, partners and other authorized representatives of such Holder who need to know such Confidential Information for the purpose of
effectuating the transactions contemplated by this Agreement and who have been informed of and have agreed to protect the confidential nature of such Confidential Information (and such Holder shall be responsible for compliance with this
Section 5.3 by such officers, employees, counsel, accountants, partners and other authorized representatives). For purposes of this Agreement, “Confidential Information” means information relating to the Company’s business,
intellectual property and processes, operations, strategies, liquidity and financial condition, Recapitalization terms, pricing policies, markets, customers, distribution, sales, marketing and production and future business plans and any other
information of a “confidential” nature, specifically including any information that is identified orally or in writing by the Company to be confidential, or that any Holder should reasonably understand under the circumstances to be a trade
secret or information of a similar nature, provided, that Confidential Information shall not include any such information which (i) was in the public domain on the date hereof or subsequently comes into the public domain other than
through the fault or negligence of a Holder, (ii) was lawfully obtained by a Holder from a third party without breach of this Agreement and otherwise not in violation of the Company’s rights, (iii) was known to a Holder at the time of
disclosure of such Confidential Information to such Holder by the Company, provided, that such Holder was not, at such time, subject to any confidentiality obligation with respect thereto, or (iv) was independently developed by a Holder
without making use of any Confidential Information. 
 ARTICLE VI 
 HOLDER REPRESENTATIVE 
 The Holders hereby appoint Campbell B. Lanier, III as the
Holders’ exclusive agent to act on the Holders’ behalf with respect to the matters specified in this Article VI. Such representative, or such other representative as the Holders may appoint from time to time to replace Campbell B. Lanier,
III, is hereinafter referred to as the “Holder Representative.” The Holder Representative shall take any and all actions which the Holder Representative believes are necessary or appropriate under this Agreement for and on behalf of
the Holders as fully as if the Holders were acting on their own behalf, including, without limitation, taking any and all actions specified in or contemplated by this Agreement to be taken by the Holders prior to, on or after the Closing Date,
approving any amendment to or waiver under this Agreement, receiving notice of and defending any claims pursuant to this Agreement, giving notice of and asserting any claims pursuant to this Agreement, consenting 

  

 7 

 
to, compromising or settling claims made pursuant to this Agreement, and engaging counsel, accountants or other representatives in connection with the
foregoing matters. The Company shall have the right to rely upon all actions taken or omitted to be taken by the Holder Representative pursuant to this Agreement, all of which actions or omissions shall be legally binding upon each of the Holders.

 ARTICLE VII 
 TERMINATION

 Section 7.1 Termination. This Agreement may be terminated at any time before the Closing Date: 
 (a) by mutual written agreement of the Company and the Holder Representative; and 
 (b) by the Company or the Holder Representative, if the Closing Date does not occur on or before September 30, 2007. 
 Section 7.2 Effect of Termination. If this Agreement is terminated by either the Company or the Holders pursuant to Section 7.1, this
Agreement shall forthwith become void, and there shall be no further obligations with respect to the Series A Preferred Stock Conversion on the part of the Company or the Holders or their respective stockholders, directors, officers, employees,
agents or representatives, except for the provisions of Sections 5.1 and 5.3 and Article VIII, all of which shall survive any termination of this Agreement; provided, that nothing in this Section 7.2 shall relieve any party
hereunder from liability for any willful breach of this Agreement. 
 ARTICLE VIII 
 MISCELLANEOUS 
 Section 8.1 Termination of Registration Rights Agreement.
The Holders hereby agree that, (a) effective as of the time of the Series A Preferred Stock Conversion, the Registration Rights Agreement, dated as of October 29, 2002 and amended through the date hereof, among the Company and the Holders
and the other persons listed on the signature pages thereof shall automatically terminate and become void without any further action by the Company or any Holder or other party thereto notwithstanding any contrary provision of such Registration
Rights Agreement (including Section 24 thereof) and (b) the agreement of the parties pursuant to this Section 8.1 shall be deemed an “Amendment” within the meaning of, and entered into pursuant to, Section 18 of such
Registration Rights Agreement. 
 Section 8.2 Survival of Representations and Warranties. All representations and warranties set
forth in this Agreement or in any writing delivered by any party in connection herewith shall survive the transactions contemplated by this Agreement to be consummated on the Closing Date (regardless of any investigation, inquiry, or examination
made by any party or on its behalf or any knowledge of any party or the acceptance by any party of any certificate or opinion) for a period of one year following the Closing Date. 
  

 8 

 Section 8.3 Enforcement. The parties hereto agree that (a) irreparable damage would
occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific intent or were otherwise breached and (b) the parties shall be entitled to an injunction or injunctions to prevent or cure
breaches of the provisions of this Agreement and to enforce specifically the terms and provisions hereof, in addition to any other remedy to which they may be entitled by law or equity. 
 Section 8.4 Successors and Assigns. Except as otherwise expressly provided herein, (a) all covenants and agreements contained in this
Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors, assigns, heirs and legal representatives of the parties hereto, whether so expressed or not, and (b) no party may assign or
delegate all or any portion of its rights, obligations or liabilities under this Agreement without the prior written consent of each other party to this Agreement; provided, that any such consent required to be given by the Holders shall be
effective if given by the Majority Holders. Without limiting the generality of the foregoing, this Agreement shall survive the death or disability of each Holder that is a natural person. 
 Section 8.5 Entire Agreement. This Agreement (including the Exhibits and Schedule hereto) constitute the full and entire understanding and
agreement between the parties with regard to the subject matter hereof, and no party shall be liable or bound to any other in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein.

 Section 8.6 Notices. All notices, demands, requests, consents or other communications to be given or delivered under or by
reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given (a) when delivered personally to the recipient, (b) when telecopied to the recipient (with hard copy sent to the recipient by reputable
overnight courier service (charges prepaid) that same day) if telecopied before 5:00 p.m. New York City time on a business day, and otherwise on the next business day, (c) one business day after being sent to the recipient by reputable
overnight courier service (charges prepaid) or (d) on the first business day that is at least five days after the date of deposit thereof in the United States mails for delivery by certified mail. Such notices, demands, requests, consents and
other communications shall be sent to the following persons at the following addresses: 
  

	 	(i)	if to the Company, to: 

 ITC^DeltaCom, Inc. 
 7037 Old Madison Pike 
 Huntsville, Alabama
35806 
 Telecopy No.: (256) 382-3936 
 Attention: J. Thomas Mullis, Esq. 
   Senior Vice President–Legal and Regulatory 
  

 9 

	 	(ii)	if to the Holders, to: 

 Campbell B. Lanier, III

 P. O. Box 510 
 West Point,
Georgia 31833 
 With a copy (which shall not constitute notice) to Holders’ counsel: 
 Sutherland Asbill & Brennan LLP 
 999
Peachtree Street, N.E. 
 Atlanta, Georgia 33039 
 Telecopy No.: (404) 853-8806 
 Attention: Wade H. Stribling 
 or to such other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. 
 Section 8.7 Amendments; Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof may not be given without the written consent thereto of the Company and the Holder Representative. 
 Section 8.8 Counterparts. This Agreement may be executed simultaneously in two or more counterparts, any one of which need not contain the
signatures of more than one party, but all such counterparts taken together shall constitute one and the same Agreement. 
 Section 8.9
Headings. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement. 
 Section 8.10 Governing Law. This Agreement shall be governed in all respects, including validity, interpretation and effect, by the laws of the State of New York applicable to contracts executed and to
be performed wholly within such state. 
 Section 8.11 Exclusive Jurisdiction; Venue. Any process against the Company or a
Holder in, or in connection with, any suit, action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby, may be served personally or by certified mail pursuant to the notice provision set forth in
Section 8.6 with the same effect as though served on it personally. Each of the parties hereto hereby irrevocably submits in any suit, action or proceeding by the parties hereto arising out of or relating to this Agreement or any of the
transactions contemplated hereby to the exclusive jurisdiction and venue of the federal and state courts of the State of New York and irrevocably waives any and all objections to exclusive jurisdiction and review of venue that any such party may
have under the laws of the State of New York or the United States. 
 Section 8.12 Waiver of Jury Trial. The Company
and the Holders hereby waive any right they may have to a trial by jury in respect of any action, proceeding or litigation directly or indirectly arising out of, under or in connection with this Agreement. 
  

 10 

 Section 8.13 Severability. Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid or unenforceable in any respect, such invalidity or unenforceability shall not render invalid or unenforceable
any other provision of this Agreement. 
 Section 8.14 Delivery by Facsimile. This Agreement and each other agreement or
instrument entered into in connection herewith or contemplated hereby, and any amendments hereto or thereto, to the extent signed and delivered by means of a facsimile machine, shall be treated in all manner and respects as an original agreement or
instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any party hereto or to any such agreement or instrument, each other party hereto or
thereto shall reexecute original forms thereof and deliver them to all other parties. No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine to deliver a signature or the fact that any signature or
agreement or instrument was transmitted or communicated through the use of a facsimile machine as a defense to the formation or enforceability of a contract, and each such party forever waives any such defense. 
  

 11 

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

			
	COMPANY
	
	ITC^DeltaCom, Inc.
		
	By:	 	/s/ J. Thomas Mullis
	Name:	 	J. Thomas Mullis
	Title:	 	Senior Vice President-Legal and Regulatory

			
	SERIES A PREFERRED STOCKHOLDERS
	
	/s/ Campbell B. Lanier, III
	Campbell B. Lanier, III
	
	Brown Investment Partners, L.P.
		
	By:	 	/s/ Campbell B. Lanier, III
	Name:	 	Campbell B. Lanier, III
	Title:	 	General Partner
	
	The Burton Partnership, Limited Partnership
		
	By:	 	/s/ Donald W. Burton
	Name:	 	Donald W. Burton
	Title:	 	General Partner
	
	The Burton Partnership (QP), Limited Partnership
		
	By:	 	/s/ Donald W. Burton
	Name:	 	Donald W. Burton
	Title:	 	General Partner
	
	/s/ Douglas A. Shumate
	Douglas A. Shumate
	
	/s/ James Smith Lanier II
	James Smith Lanier II
	
	/s/ Elizabeth Walker Lanier
	Elizabeth Walker Lanier

			
	SERIES A PREFERRED STOCKHOLDERS
	
	/s/ Carroll Lanier Hodges
	Carroll Lanier Hodges
	
	/s/ Ellen L. Collins
	Ellen L. Collins
	
	/s/ John Thompson Lanier
	John Thompson Lanier
	
	/s/ Elizabeth L. Lester
	Elizabeth L. Lester
	
	The 1997 Trust FBO Campbell B. Lanier, IV
		
	By:	 	/s/ ILLEGIBLE
	Name:	 	 
	Title:	 	Trustee
	
	The 1999 Trust FBO Campbell B. Lanier, IV
		
	By:	 	/s/ ILLEGIBLE
	Name:	 	 
	Title:	 	Trustee
	
	CT Communications
		
	By:	 	/s/ James E. Hansman
	Name:	 	James E. Hansman
	Title:	 	Senior Vice President and Chief Financial Officer

									
		 		 	Basso Holdings Ltd
				
		 		 	By:	 	/s/ Howard I. Fischer
		 		 		 	Name:	 	Howard I. Fischer
		 		 		 	Title:	 	Authorized Signatory
			
		 		 	Basso Multi-Strategy Holding Fund Ltd
				
		 		 	By:	 	/s/ Howard I. Fischer
		 		 		 	Name:	 	Howard I. Fischer
		 		 		 	Title:	 	Authorized Signatory

									
		 		 	J. Smith Lanier and Company
				
		 		 	By:	 	/s/ Frank E. Plan
		 		 		 	Name:	 	Frank E. Plan
		 		 		 	Title:	 	Chief Financial Officer
			
		 		 	North State Telephone Company
				
		 		 	By:	 	/s/ Royster M. Tucker, Jr.
		 		 		 	Name:	 	Royster M. Tucker, Jr.
		 		 		 	Title:	 	President

					
			
	 	 		 	/s/ William A. Walker and /s/ Margie R. Walker
		 		 	William A. Walker and Margie R. Walker, Jt Ten
			
	 	 		 	/s/ Henry E. Crosby, Jr.
		 		 	Henry E. Crosby, Jr.

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