0000932440-10-000040 Sample Contracts

FORM OF NOTE AMENDMENT No 2
Note Amendment • February 12th, 2010 • Global Telecom & Technology, Inc. • Telephone communications (no radiotelephone) • Virginia

This NOTE AMENDMENT No. 2 (this “Amendment”) is entered into as of January 14, 2010, by and among Global Telecom & Technology, Inc. (the “Company”) and the undersigned holder (the “Holder”) of the Company’s 10% promissory notes issued on October 15, 2006 and due on December 31, 2010 (the “Notes”).

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NOTE AMENDMENT
Note Amendment • February 12th, 2010 • Global Telecom & Technology, Inc. • Telephone communications (no radiotelephone) • Virginia

This NOTE AMENDMENT (this “Amendment”) is entered into as of the Effective Date (as defined below) by and among Global Telecom & Technology, Inc. (the “Company”) and the holders (“Holders”) of the Company’s 10% convertible subordinated notes due on December 31, 2010 issued November 2007 (the “Notes”).

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