On December 30, 2013, Global Telecom & Technology, Inc. (the Company) and its domestic subsidiaries, Global Telecom & Technology Americas, Inc. ('GTTA'), WBS Connect LLC ('WBS'), PacketExchange (USA), Inc. ('PEUSA'), PacketExchange Inc. ('PEINC'), TEK Channel Consulting, LLC ('TEK'), GTT Global Telecom Government Services, LLC ('GTTG'), Communication Decisions-SNVC, LLC ('CDS'), Core180, LLC ('Core180'), Electra Ltd. ('Electra'), IDC Global, Inc. ('IDC'), NT Network Services, LLC ('NT Network'), and nLayer Communications, Inc. ('nLayer', and together with the company, GTTA, WBS, PEUSA, PEINC, TEK, GTTG, CDS, Core180, Electra, IDC, and NT Network, collectively, the 'Borrower') entered into an Amended and Restated Credit Agreement (the 'Amended Credit Agreement') with each lender from time to time party thereto, Webster Bank, N.A. for itself and as administrative agent for the lenders ('Administrative Agent'), and as L/C Issuer. The Amended Credit Agreement amends and restates that certain Credit Agreement dated April 30, 2013 (as amended, the 'Original Credit Agreement') by and among the same parties. The Amended Credit Agreement provides for a senior term loan facility, a revolving line of credit facility, and a letter of credit facility in favor of the Borrower, and is secured by substantially all of the Borrowers tangible and intangible assets.

In addition, the obligations of the Borrower are secured by a pledge of the equity interests of the domestic and 65% of the first tier foreign subsidiaries of the company, GTTA, and GTTG. The material amendments to the Original Credit Agreement include the following:(a) a $7.5 million increase to the size of the revolving credit facility, increasing the maximum borrowings under the revolving credit facility to $15.0 million; and (b) the addition of a letter of credit facility in aggregate principal amount not to exceed $4.0 million, which is also a sublimit within the revolving credit facility.