<PAGE>

                                                                      Exhibit 10


                               COURIER CORPORATION
                             COURIER COMPANIES, INC.
                    COURIER FOREIGN SALES CORPORATION LIMITED
                           COURIER KENDALLVILLE, INC.
                            COURIER PROPERTIES, INC.
                           NATIONAL PUBLISHING COMPANY
                             COURIER NEW MEDIA, INC.
                              BOOK-MART PRESS, INC.
                MASSACHUSETTS NATIONAL PUBLISHING BUSINESS TRUST
                            DOVER PUBLICATIONS, INC.
                             DOVER BOOK STORE, INC.
                         COURIER CUSTOM PUBLISHING, INC.


                            Dated as of: May 20, 2002


Citizens Bank of Massachusetts (successor
to State Street Bank and Trust Company),
  Individually and as Agent
28 State Street
Boston, Massachusetts  02109

Fleet National Bank (f/k/a BankBoston, N.A.)
100 Federal Street
Boston, Massachusetts  02110

KeyBank National Association
286 Water Street
Augusta, Maine 04332

Sovereign Bank (a federal savings bank)
75 State Street
Boston, Massachusetts  02109

         Re:  AMENDMENT NO. 8 TO REVOLVING CREDIT AGREEMENT

Ladies and Gentlemen:

         We refer to the Revolving Credit Agreement, dated as of March 18, 1997
(as amended, the "Agreement"), among COURIER CORPORATION, COURIER COMPANIES,
INC., COURIER FOREIGN SALES CORPORATION LIMITED, COURIER KENDALLVILLE, INC.,
COURIER PROPERTIES, INC., NATIONAL PUBLISHING COMPANY, COURIER NEW MEDIA, INC.,
BOOK-MART PRESS, INC., MASSACHUSETTS NATIONAL PUBLISHING BUSINESS TRUST, DOVER
PUBLICATIONS, INC., and DOVER BOOK STORE, INC. (each a "Borrower" and
collectively the "Borrowers"), CITIZENS BANK OF MASSACHUSETTS (successor to

<PAGE>


State Street Bank and Trust Company), in its capacity as a Bank ("Citizens"),
FLEET NATIONAL BANK (f/k/a BankBoston, N.A.), in its capacity as a Bank
("Fleet"), KEYBANK NATIONAL ASSOCIATION, in its capacity as a Bank ("Key"; and
together with Citizens and Fleet, the "Banks"), and CITIZENS BANK OF
MASSACHUSETTS, in its capacity as agent for the Banks (the "Agent").

         Terms used in this letter of agreement (this "Amendment") which are not
defined herein, but which are defined in the Agreement, shall have the same
respective meanings herein as therein.

         We have requested you to make certain amendments to the Agreement. You
have advised us that you are prepared and would be pleased to make the
amendments so requested by us on the condition that we join with you in this
Amendment.

         Accordingly, in consideration of these premises, the promises, mutual
covenants and agreements contained in this Amendment, and fully intending to be
legally bound by this Amendment, we hereby agree with you as follows:

                                    ARTICLE I

                             AMENDMENTS TO AGREEMENT

         Effective May 20, 2002, the Agreement is amended as follows:

         (a) The term "Loan Documents" shall, wherever used in the Agreement or
any of the other Loan Documents, be deemed to also mean and include Amendment
No. 8 to Revolving Credit Agreement, the Fleet Allonge, the Citizens Allonge,
the Key Allonge and the Sovereign Note.

         (b) The Borrowers having informed the Agent and the Banks that the
National Publishing Business Trust is now known as the Massachusetts National
Publishing Business Trust, the Agreement and each of the other Loan Documents is
amended by deleting all references to the "National Publishing Business Trust"
and in inserting in place thereof "Massachusetts National Publishing Business
Trust."

         (c) The Borrowers having informed the Agent and the Banks that Custom
Courier Publishing, Inc. ("Custom Publishing") is a Subsidiary, the term
"Borrower" or "Borrowers" shall, wherever used in any of the Loan Documents, be
deemed to also mean and include Custom Publishing. It is the express
understanding and intention of the parties hereto that Custom Publishing shall
hereafter be entitled to make borrowings in accordance with the terms and
conditions of the Agreement, and shall hereafter be bound, on a joint and
several basis, by all of the terms and conditions of the Agreement, and all of
the Obligations of the Borrowers under (and as defined in) the Agreement, as if
it was an original signatory thereto, including, without limitation, the
representations, warranties


                                      -2-
<PAGE>


and covenants contained therein and the obligation to repay all amounts owing
under the Agreement and the Notes in accordance with the respective terms
thereof.

         (d) Section 1.1.8 of the Agreement is amended to read in its entirety
as follows:

         "1.1.8 "Banks" means, collectively, (i) Citizens, (ii) Fleet, (iii)
         Key, (iv) Sovereign, and (v) each of the other financial institutions
         which may after the date hereof become a party to this Agreement as a
         Bank hereunder."

         (e) Section 1.1.14 of the Agreement is amended to read in its entirety
as follows:

         "1.1.14 "Commitment Percentage" means, with respect to the Revolving
         Credit Commitment, (i) in relation to Citizens, 25%, (ii) in relation
         to Fleet, 25%, (iii) in relation to Key, 25%, and (iv) in relation to
         Sovereign, 25%."

         (f) Section 1.1.56 of the Agreement is amended to read in its entirety
as follows:

         "1.1.56    "Revolving Loan Maturity Date" means March 31, 2005."

         (g) Section 1.1 of the Agreement is further amended by inserting at the
end thereof the following additional subsection 1.1.67 as follows:

         "1.1.67  "Sovereign" means Sovereign Bank (a federal savings bank)."

         (h) Section 7.1 of the Agreement is amended by inserting at the end
thereof the following additional sentence as follows:

         "Such amounts that may be applied to or set off against Obligations are
to be ratably applied to all Obligations owed to the Agent and each Bank under
this Agreement with reasonable promptness."

         (i) Section 8.3 of the Agreement is amended to read in its entirety as
follows:

         "8.3 FUTURE ADVANCES. In order to more conveniently administer the
         Revolving Loans, Fleet, Key and Sovereign do hereby authorize the Agent
         and Citizens to make all Revolving Loans and advances, subject to the
         terms and conditions of this Agreement, to the Borrowers, which are
         requested by the Borrowers on any Business Day. Fleet, Key and
         Sovereign do hereby further irrevocably agree, whether or not this
         Agreement has been terminated, an Event of Default has occurred, the
         Agent has accelerated the Obligations or the Agent is proceeding to
         liquidate any collateral, to transfer to the Agent on each Business
         Day, if not already transferred, sufficient immediately available
         federal funds to reimburse


                                      -3-
<PAGE>


         Citizens for Fleet, Key and Sovereign's respective Commitment
         Percentages of all Revolving Loans and other advances made during such
         Business Day after taking into account payments received by the Agent.
         Any payments made by the Agent on behalf of any Borrower shall
         constitute Revolving Loans initially made by the Agent at such time as
         such funds are actually provided, or such payments are made, by the
         Agent. All Revolving Loans and other advances made by the Agent on
         behalf of Fleet, Key and Sovereign shall be, for purposes of interest
         income and other charges, considered loans from Fleet, Key and
         Sovereign to the Borrowers at such time as the Agent receives from
         Fleet, Key and Sovereign funds as provided in this Section 8.3, and
         prior to such time such Revolving Loans and advances shall be
         considered, for purposes of interest income and other charges, loans
         from Citizens. The Agent may at any time upon notice to Fleet, Key and
         Sovereign (i) refuse to make Revolving Loans and advances on behalf of
         Fleet, Key and Sovereign unless Fleet, Key and Sovereign shall have
         provided to the Agent immediately available federal funds sufficient to
         cause the outstanding Revolving Loans to equal each of the Banks'
         respective Commitment Percentage; (ii) require Fleet, Key and Sovereign
         to fund such Revolving Loans and advances before making such Revolving
         Loans and advances to the Borrower requesting the same; or (iii)
         require that Fleet, Key and Sovereign immediately transfer to the Agent
         on each Business Day immediately available federal funds sufficient to
         cause the outstanding Revolving Loans to equal each of the Banks'
         respective Commitment Percentage. Notwithstanding the provisions
         hereof, the obligations to make Revolving Loans and advances under the
         terms of this Agreement shall be the several and not joint obligation
         of Fleet, Key, Sovereign and Citizens, and any advances made by the
         Agent on behalf of Fleet, Key and Sovereign are strictly for the
         administrative convenience of the parties and shall in no way diminish
         Fleet, Key and Sovereign's liability to the Agent and Citizens to repay
         the Agent for such Revolving Loans and advances."

         (j) Section 8.5(ii) of the Agreement is amended to read in its entirety
as follows:

         "(ii) All payments received by the Agent pursuant to Section 10.7 of
         this Agreement shall be applied by the Agent to reimburse itself,
         Citizens, Fleet, Key or Sovereign as the case may be, on account of the
         Obligation, tax, charge or expense in respect of which such payment is
         made."

         (k) Section 10.1 of the Agreement is amended by inserting the following
clause at the end of the second to last sentence: ", and written notices to
Sovereign shall be sent to Sovereign Bank, 19 Pleasant Street, Woburn, MA 01801,
Attention: Michael S. Tager, Vice President, with a copy to Sovereign Bank, 75
State Street, Boston, MA 02109, Attention: Legal Department."

         (l) EXHIBIT A to the Agreement is amended (i) by deleting each
reference to "$20,000,000" or "Twenty Million Dollars ($20,000,000)" and
inserting in place thereof


                                      -4-
<PAGE>


either "$15,000,000" or "Fifteen Million Dollars ($15,000,000)," as the case may
be, and (ii) by adding a new Revolving Credit Note of the Borrowers to
Sovereign.

                                   ARTICLE II

                       AMENDMENT TO REVOLVING CREDIT NOTES

         Effective on May 20, 2002, the Revolving Credit Notes to Citizens and
Fleet are amended as set forth in the Allonges respectively attached hereto as
ANNEX 1, ANNEX 2 and ANNEX 3. In addition, the Revolving Loans shall be
evidenced by a separate Revolving Credit Note of the Borrowers to Sovereign
substantially in the form of ANNEX 4 attached hereto.

                                   ARTICLE III

                     CONDITIONS PRECEDENT TO AMENDMENT NO. 8

         This Amendment shall become and be effective as of the date hereof, but
only if:

         (a) The Borrowers shall have executed and delivered to Fleet an Allonge
to the Revolving Credit Note issued in favor of Fleet in the form of ANNEX 1
(the "Fleet Allonge");

         (b) The Borrowers shall have executed and delivered to Citizens an
Allonge to the Revolving Credit Note issued in favor of Citizens in the form of
ANNEX 2 (the "Citizens Allonge");

         (c) The Borrowers shall have executed and delivered to Key an Allonge
to the Revolving Credit Note issued in favor of Key in the form of ANNEX 3 (the
"Key Allonge"); and

         (d) The Borrowers shall have executed and delivered to Sovereign a
Revolving Credit Note in favor of Sovereign in the form of ANNEX 4 (the
"Sovereign Note"); and

         (e) This Amendment shall have been signed by the Borrowers, the Agent
and the Banks.


                                      -5-
<PAGE>


                                   ARTICLE IV

                         REPRESENTATIONS AND WARRANTIES

         The Borrowers jointly and severally represent and warrant to you as
follows:

         (a) REPRESENTATIONS IN AGREEMENT. Each of the representations and
warranties made by the Borrowers in the Agreement was true, correct and complete
when made and is true, correct and complete on and as of the date hereof with
the same full force and effect as if each of such representations and warranties
had been made by the Borrowers on the date hereof and in this Amendment (except
to the extent that such representations and warranties relate expressly to an
earlier date).

         (b) NO DEFAULTS OR EVENTS OF DEFAULT. No Event of Default, or any event
which, with the giving of notice or the passage of time, or both, would
constitute an Event of Default, exists on the date of this Amendment (after
giving effect to all of the arrangements and transactions contemplated by this
Amendment).

         (c) BINDING EFFECT OF DOCUMENTS. This Amendment has been duly
authorized, executed and delivered to you by the Borrowers and is in full force
and effect as of the date hereof, and the agreements and obligations of the
Borrowers contained herein constitute the joint and several, and legal, valid
and binding obligations of the Borrowers enforceable against the Borrowers in
accordance with their respective terms.

         (d) SOLVENCY. Both before and after giving effect to all indebtedness
incurred by the Borrowers on the date of this Amendment, the Borrowers taken as
a whole (i) are not Insolvent (as hereinafter defined), and will not be rendered
Insolvent by the indebtedness incurred in connection therewith, (ii) will not be
left with unreasonably small capital with which to engage in their businesses,
even allowing for a reasonable margin of error in the projections of the future
performance of the Borrowers, (iii) will not have incurred indebtedness beyond
their ability to pay such indebtedness as it matures, and (iv) will not fail to
have assets (both tangible and intangible) having a present fair salable value
in excess of the amount required to pay the probable liability on their then
existing debts (whether matured or unmatured, liquidated or unliquidated,
absolute fixed or contingent).

         As used herein, the term "Insolvent" means the occurrence of one or
more of the following events with respect to a Borrower: dissolution;
termination of existence; insolvency within the meaning of the United States
Bankruptcy Code or other applicable statutes; such Borrower's inability to pay
its debts as they come due; appointment of a receiver of any part of the
property of, execution of a trust mortgage or an assignment for the benefit of
creditors by, or the entry of an order for relief or the filing of a petition in
bankruptcy or the commencement of any proceedings under any bankruptcy or
insolvency laws, or any laws relating to the relief of debtors, readjustment of
indebtedness or reorganization of debtors, or the offering of a plan to
creditors for composition or extension, except for an involuntary proceeding
commenced against such Borrower which is dismissed


                                      -6-
<PAGE>


within 60 days after the commencement thereof without the entry or an order for
relief or the appointment of a trustee.

                                    ARTICLE V

                                  MISCELLANEOUS

         This Amendment may be executed in any number of counterparts, each of
which when executed and delivered shall be deemed an original, but all of which
together shall constitute one instrument. In making proof of this Amendment, it
shall not be necessary to produce or account for more than one counterpart
thereof signed by each of the parties hereto. Except to the extent specifically
amended and supplemented hereby, all of the terms, conditions and the provisions
of the Agreement and each of the Loan Documents shall remain unmodified, and the
Agreement and each of the Loan Documents, as amended and supplemented by this
Amendment, are confirmed as being in full force and effect.

         If you are in agreement with the foregoing, please sign the form of
acceptance on the enclosed counterpart of this Amendment and return such
counterpart to the undersigned, together with the signed documents referred to
in Article III, whereupon this Amendment, as so accepted by you, shall become a
binding agreement among you and the undersigned.

                              Very truly yours,

                              THE BORROWERS:
                              -----------------------------------------

                              COURIER CORPORATION


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  V.P. & Treasurer


                              COURIER COMPANIES, INC.


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  Asst. Treasurer


                                      -7-
<PAGE>


                              COURIER FOREIGN SALES CORPORATION LIMITED


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  Treasurer


                              COURIER KENDALLVILLE, INC.


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  Asst. Treasurer


                              COURIER PROPERTIES, INC.


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  Asst. Treasurer


                              NATIONAL PUBLISHING COMPANY


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  Asst. Treasurer


                              COURIER NEW MEDIA, INC.


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  Asst. Treasurer


                              BOOK-MART PRESS, INC.


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  Asst. Treasurer


                              MASSACHUSETTS NATIONAL PUBLISHING
                              BUSINESS TRUST


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  Asst. Treasurer


                                      -8-
<PAGE>


                              DOVER PUBLICATIONS, INC.


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  Asst. Treasurer


                              DOVER BOOK STORE, INC.


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  Asst. Treasurer


                              COURIER CUSTOM PUBLISHING, INC.


                              By: /s/ Lee Cochrane
                                  -------------------------------------
                                  Title:  Asst. Treasurer


                  [Bank and Agent signatures on following page]


                                      -9-
<PAGE>


         The foregoing Amendment is hereby accepted by the undersigned as of May
20, 2002.

                              THE BANKS:
                              -----------------------------------------


                              CITIZENS BANK OF MASSACHUSETTS
                              (successor to State Street Bank and
                              Trust Company)


                              By: /s/ Stephen E. Foley
                                  -------------------------------------
                                  Title:  Vice President


                              FLEET NATIONAL BANK
                              (f/k/a BankBoston, N.A.)


                              By: /s/ Elise Russo
                                  -------------------------------------
                                  Title:  S.V.P.


                               KEYBANK NATIONAL ASSOCIATION


                              By: /s/ Mitch Feldman
                                  -------------------------------------
                                  Title:  S.V.P.


                              SOVEREIGN BANK (a federal savings bank)


                              By: /s/ Michael S. Tager
                                  -------------------------------------
                                  Title:  Vice President


                              THE AGENT:
                              -----------------------------------------


                              CITIZENS BANK OF MASSACHUSETTS
                              (successor to State Street Bank and
                              Trust Company)


                              By: /s/ Stephen E. Foley
                                  -------------------------------------
                                  Title:  Vice President


                                      -10-
<PAGE>


                                                                         ANNEX 1


                        ALLONGE TO REVOLVING CREDIT NOTE

$15,000,000.00                                       Dated as of:  May 20, 2002

         This Allonge is made by COURIER CORPORATION, COURIER COMPANIES, INC.,
COURIER FOREIGN SALES CORPORATION LIMITED, COURIER KENDALLVILLE, INC., COURIER
PROPERTIES, INC., NATIONAL PUBLISHING COMPANY, COURIER NEW MEDIA, INC.,
BOOK-MART PRESS, INC., MASSACHUSETTS NATIONAL PUBLISHING BUSINESS TRUST, DOVER
PUBLICATIONS, INC., DOVER BOOK STORE, INC. and COURIER CUSTOM PUBLISHING, INC.
(collectively, the "Borrowers"), to that certain Revolving Credit Note dated
March 18, 1997, in the face amount of $10,000,000 (as amended by that certain
Allonge dated July 22, 1997, February 27, 1998, February 26, 1999, July 22,
1999, August 11, 2000, October 12, 2000, and March 31, 2001, the "Note"),
executed and delivered by the Borrowers to Fleet National Bank (f/k/a
BankBoston, N.A.) (the "Bank") pursuant to the terms of a Revolving Credit
Agreement, dated as of March 18, 1997, among the Borrowers, the Bank, KeyBank
National Association, and Citizens Bank of Massachusetts (successor to State
Street Bank and Trust Company), Individually and as Agent (as amended, the "Loan
Agreement").

         Effective on the day and year first above written, each reference in
the Note to "$20,000,000" or to "TWENTY MILLION DOLLARS ($20,000,000)" shall be
deemed to be a reference to "$15,000,000" or "FIFTEEN MILLION DOLLARS
($15,000,000)," as the case may be.

         Effective on the day and year first above written, each reference in
the Note to "NATIONAL PUBLISHING BUSINESS TRUST" shall be deemed to be a
reference to "MASSACHUSETTS NATIONAL PUBLISHING BUSINESS TRUST."

         Effective on the day and year first above written, Courier Custom
Publishing, Inc. shall be added as a Borrower and signatory to the Note, and
shall hereafter be bound, on a joint and several basis, by all of the terms and
conditions contained therein.

         Effective on the day and year first above written, and without
prejudice to Section 2.4.3 of the Loan Agreement, the Revolving Loan Maturity
Date shall be extended to March 31, 2005.

         The Borrowers hereby confirm their joint and several promise to pay as
set forth in the Note, and all other terms and conditions of the Note, as
modified by this Allonge.

         All capitalized terms used herein but not defined herein shall have the
same meaning as set forth in the Note.


<PAGE>


         This Allonge shall become part of the Note, and although it is the
intent of the parties that this Allonge be affixed to the Note, this Allonge
shall continue in full force and effect even if it has not been so affixed.

         Executed as a sealed instrument as of the date first above written.

                                               THE BORROWERS:
                                               --------------

WITNESS:                                       COURIER CORPORATION


/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  V.P. & Treasurer

WITNESS:                                         COURIER COMPANIES, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       COURIER FOREIGN SALES
                                               CORPORATION LIMITED

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       COURIER KENDALLVILLE, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       COURIER PROPERTIES, INC.


/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer:

WITNESS:                                       NATIONAL PUBLISHING COMPANY

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer


                                      -2-
<PAGE>


WITNESS:                                       COURIER NEW MEDIA, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer


WITNESS:                                       BOOK-MART PRESS, INC.


/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       MASSACHUSETTS NATIONAL
                                               PUBLISHING BUSINESS TRUST

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       DOVER PUBLICATIONS, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       DOVER BOOK STORE, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       COURIER CUSTOM PUBLISHING, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer


                                      -3-
<PAGE>


                                                                         ANNEX 2


                        ALLONGE TO REVOLVING CREDIT NOTE

$15,000,000.00                                       Dated as of:  May 20, 2002

         This Allonge is made by COURIER CORPORATION, COURIER COMPANIES, INC.,
COURIER FOREIGN SALES CORPORATION LIMITED, COURIER KENDALLVILLE, INC., COURIER
PROPERTIES, INC., NATIONAL PUBLISHING COMPANY, COURIER NEW MEDIA, INC.,
BOOK-MART PRESS, INC., MASSACHUSETTS NATIONAL PUBLISHING BUSINESS TRUST, DOVER
PUBLICATIONS, INC., DOVER BOOK STORE, INC. and COURIER CUSTOM PUBLISHING, INC.
(collectively, the "Borrowers"), to that certain Revolving Credit Note dated
March 18, 1997, in the face amount of $10,000,000 (as amended by that certain
Allonge dated July 22, 1997, February 27, 1998, February 26, 1999, July 22,
1999, August 11, 2000, October 12, 2000, and March 31, 2001, the "Note"),
executed and delivered by the Borrowers to Citizens Bank of Massachusetts
(successor to State Street Bank and Trust Company) (the "Bank"), pursuant to the
terms of a Revolving Credit Agreement, dated as of March 18, 1997, among the
Borrowers, the Bank, KeyBank National Association, Fleet National Bank (f/k/a
BankBoston, N.A.), and Citizens Bank of Massachusetts (successor to State Street
Bank and Trust Company), as Agent (as amended, the "Loan Agreement").

         Effective on the day and year first above written, each reference in
the Note to "$20,000,000" or to "TWENTY MILLION DOLLARS ($20,000,000)" shall be
deemed to be a reference to "$15,000,000" or "FIFTEEN MILLION DOLLARS
($15,000,000)," as the case may be.

         Effective on the day and year first above written, each reference in
the Note to "NATIONAL PUBLISHING BUSINESS TRUST" shall be deemed to be a
reference to "MASSACHUSETTS NATIONAL PUBLISHING BUSINESS TRUST."

         Effective on the day and year first above written, Courier Custom
Publishing, Inc. shall be added as a Borrower and signatory to the Note, and
shall hereafter be bound, on a joint and several basis, by all of the terms and
conditions contained therein.

         Effective on the day and year first above written, and without
prejudice to Section 2.4.3 of the Loan Agreement, the Revolving Loan Maturity
Date shall be extended to March 31, 2005.

         The Borrowers hereby confirm their joint and several promise to pay as
set forth in the Note, and all other terms and conditions of the Note, as
modified by this Allonge.

         All capitalized terms used herein but not defined herein shall have the
same meaning as set forth in the Note.


<PAGE>


         This Allonge shall become part of the Note, and although it is the
intent of the parties that this Allonge be affixed to the Note, this Allonge
shall continue in full force and effect even if it has not been so affixed.

         Executed as a sealed instrument as of the date first above written.

                                               THE BORROWERS:
                                               --------------

WITNESS:                                       COURIER CORPORATION

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  V.P. & Treasurer


WITNESS:                                       COURIER COMPANIES, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer


WITNESS:                                       COURIER FOREIGN SALES
                                               CORPORATION LIMITED

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       COURIER KENDALLVILLE, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer


WITNESS:                                       COURIER PROPERTIES, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       NATIONAL PUBLISHING COMPANY

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer


                                      -2-
<PAGE>


WITNESS:                                       COURIER NEW MEDIA, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       BOOK-MART PRESS, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       MASSACHUSETTS NATIONAL
                                               PUBLISHING BUSINESS TRUST

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       DOVER PUBLICATIONS, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       DOVER BOOK STORE, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer

WITNESS:                                       COURIER CUSTOM PUBLISHING, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
-------------------------                          ---------------------------
Title:                                         Title:  Asst. Treasurer


                                      -3-
<PAGE>

                                                                         ANNEX 3

                        ALLONGE TO REVOLVING CREDIT NOTE

$15,000,000.00                                       Dated as of:  May 20, 2002

         This Allonge is made by COURIER CORPORATION, COURIER COMPANIES, INC.,
COURIER FOREIGN SALES CORPORATION LIMITED, COURIER KENDALLVILLE, INC., COURIER
PROPERTIES, INC., NATIONAL PUBLISHING COMPANY, COURIER NEW MEDIA, INC.,
BOOK-MART PRESS, INC., MASSACHUSETTS NATIONAL PUBLISHING BUSINESS TRUST, DOVER
PUBLICATIONS, INC., DOVER BOOK STORE, INC. and COURIER CUSTOM PUBLISHING, INC.
(collectively, the "Borrowers"), to that certain Revolving Credit Note dated
July 22, 1999, in the face amount of $10,000,000 (as amended by that certain
Allonge dated August 11, 2000, October 12, 2000, and March 31, 2001, the
"Note"), executed and delivered by the Borrowers to KeyBank National Association
(the "Bank") pursuant to the terms of a Revolving Credit Agreement, dated as of
March 18, 1997, among the Borrowers, the Bank, Fleet National Bank (f/k/a
BankBoston, N.A.), and Citizens Bank of Massachusetts (successor to State Street
Bank and Trust Company), Individually and as Agent (as amended, the "Loan
Agreement").

         Effective on the day and year first above written, each reference in
the Note to "$20,000,000" or to "TWENTY MILLION DOLLARS ($20,000,000)" shall be
deemed to be a reference to "$15,000,000" or "FIFTEEN MILLION DOLLARS
($15,000,000)," as the case may be.

         Effective on the day and year first above written, each reference in
the Note to "NATIONAL PUBLISHING BUSINESS TRUST" shall be deemed to be a
reference to "MASSACHUSETTS NATIONAL PUBLISHING BUSINESS TRUST."

         Effective on the day and year first above written, Courier Custom
Publishing, Inc. shall be added as a Borrower and signatory to the Note, and
shall hereafter be bound, on a joint and several basis, by all of the terms and
conditions contained therein.

         Effective on the day and year first above written, and without
prejudice to Section 2.4.3 of the Loan Agreement, the Revolving Loan Maturity
Date shall be extended to March 31, 2005.

         The Borrowers hereby confirm their joint and several promise to pay as
set forth in the Note, and all other terms and conditions of the Note, as
modified by this Allonge.

         All capitalized terms used herein but not defined herein shall have the
same meaning as set forth in the Note.

<PAGE>

         This Allonge shall become part of the Note, and although it is the
intent of the parties that this Allonge be affixed to the Note, this Allonge
shall continue in full force and effect even if it has not been so affixed.

         Executed as a sealed instrument as of the date first above written.

<TABLE>
<S>                                            <C>
                                               THE BORROWERS:

WITNESS:                                       COURIER CORPORATION

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title: V.P. & Treasurer

WITNESS:                                       COURIER COMPANIES, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title: Asst. Treasurer

WITNESS:                                       COURIER FOREIGN SALES
                                               CORPORATION LIMITED

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title: Asst. Treasurer

WITNESS:                                         COURIER KENDALLVILLE, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title: Asst. Treasurer

WITNESS:                                       COURIER PROPERTIES, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title:  Asst. Treasurer

WITNESS:                                       NATIONAL PUBLISHING COMPANY

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title: Asst. Treasurer

                                      -2-
<PAGE>

<S>                                            <C>
WITNESS:                                       COURIER NEW MEDIA, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title:  Asst. Treasurer

WITNESS:                                       BOOK-MART PRESS, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title:  Asst. Treasurer

WITNESS:                                       MASSACHUSETTS NATIONAL
                                               PUBLISHING BUSINESS TRUST

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title:  Asst. Treasurer

WITNESS:                                       DOVER PUBLICATIONS, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title:  Asst. Treasurer

WITNESS:                                       DOVER BOOK STORE, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title:  Asst. Treasurer

WITNESS:                                       COURIER CUSTOM PUBLISHING, INC.

/s/ Elaine Imbrogna                            By: /s/ Lee Cochrane
---------------------                              ----------------------------
Title:                                             Title:  Asst. Treasurer
</TABLE>

                                      -3-
<PAGE>

                                                                        ANNEX 4

                              REVOLVING CREDIT NOTE

$15,000,000.00                                            Boston, Massachusetts
                                                          May 20, 2002

         FOR VALUE RECEIVED, the undersigned (hereinafter, together with their
respective successors in title and assigns, collectively called the
"Borrowers"), by this promissory note (hereinafter, called "this Note"),
absolutely and unconditionally promise to pay to the order of Sovereign Bank (a
federal savings bank) (hereinafter, together with its successors in title and
assigns, called the "Bank"), the principal sum of FIFTEEN MILLION DOLLARS
($15,000,000), or so much thereof as shall have been advanced by the Bank to the
Borrowers by way of revolving loans under the Credit Agreement (as hereinafter
defined) and shall remain outstanding, such payment to be made as hereinafter
provided, and to pay interest on the principal sum outstanding hereunder from
time to time from the date hereof until the said principal sum or the unpaid
portion thereof shall have become due and payable as hereinafter provided.

         The entire unpaid principal (not at the time overdue) of this Note
shall bear interest at the rate or rates from time to time in effect under the
Credit Agreement. Accrued interest on the unpaid principal under this Note shall
be payable on the dates specified in the Credit Agreement.

         On March 31, 2005, the date of the final maturity of this Note (unless
extended pursuant to Section 2.4.3 of the Credit Agreement), there shall become
absolutely due and payable by the Borrowers hereunder, and the Borrowers hereby
jointly and severally promise to pay to the holder hereof, the balance (if any)
of the principal hereof then remaining unpaid, all of the unpaid interest
accrued hereon and all (if any) other amounts payable on or in respect of this
Note or the indebtedness evidenced hereby.

         Each overdue amount (whether of principal, interest or otherwise)
payable on or in respect of this Note or the indebtedness evidenced hereby shall
(to the extent permitted by applicable law) bear interest at the rates and on
the terms provided by the Credit Agreement. The unpaid interest accrued on each
overdue amount in accordance with the foregoing terms of this paragraph shall
become and be absolutely due and payable by the Borrowers to the holder hereof
on demand by the holder of this Note. Interest on each overdue amount will
continue to accrue as provided by the foregoing terms of this paragraph, and
will (to the extent permitted by applicable law) be compounded monthly until the
obligations of the Borrowers in respect of the payment of such overdue amount
shall be discharged (whether before or after judgment).

<PAGE>

         Each payment of principal, interest or other sum payable on or in
respect of this Note or the indebtedness evidenced hereby shall be made by the
Borrowers directly to the Agent in U.S. Dollars, at the Agent's Head Office (as
hereinafter defined), on the due date of such payment, and in immediately
available and freely transferable funds. All payments on or in respect of this
Note or the indebtedness evidenced hereby shall be made without set-off or
counterclaim and free and clear of and without any deductions, withholdings,
restrictions or conditions of any nature.

         This Note is made and delivered by the Borrowers to the Bank pursuant
to a Revolving Credit Agreement, dated as of March 18, 1997, among the
Borrowers, the Banks and the Agent (hereinafter, as originally executed, or, if
varied or supplemented or amended and restated, called the "Credit Agreement").
This Note evidences the joint and several obligations of the Borrowers (a) to
repay the principal amount of each Revolving Loan (as defined in the Credit
Agreement) made by the Bank to the Borrowers pursuant to the Credit Agreement;
(b) to pay interest, as herein and therein provided, on the principal amount
hereof remaining unpaid from time to time; and (c) to pay other amounts which
may become due and payable hereunder as herein provided. Reference is hereby
made to the Credit Agreement (including the EXHIBITS annexed thereto) for a
complete statement of the terms thereof.

         No reference herein to the Credit Agreement or to any provisions
thereof shall impair the obligations of the Borrowers, which are absolute,
unconditional and irrevocable, to pay the principal of and the interest on this
Note and to pay all (if any) other amounts which may become due and payable on
or in respect of this Note or the indebtedness evidenced hereby, strictly in
accordance with the terms and the tenor of this Note.

         For all purposes of this Note, the following terms shall have the
respective meanings set forth below:

                  (a) "Agent" means Citizens Bank of Massachusetts, acting in
         its capacity as Agent for the Banks under the Credit Agreement.

                  (b) "Agent's Head Office" means the head office of Citizens
         Bank of Massachusetts located at 28 State Street, Boston, Massachusetts
         02109.

                  (c) "Banks" shall have the meaning ascribed to such term in
         the Credit Agreement.

                  (d) "holder" means the Bank in possession of this Note or any
         other Person who is at the time the lawful holder in possession of this
         Note.

         The Borrowers will have the right to prepay the unpaid principal of
this Note in full or in part upon the terms contained in the Credit Agreement.
The Borrowers will have an obligation to prepay principal of this Note upon the
terms contained in the Credit

                                      -2-
<PAGE>

Agreement. Any partial payment of the indebtedness evidenced by this Note shall
be applied in accordance with the terms of the Credit Agreement.

         Pursuant to, and upon the terms contained in, Section 6 of the Credit
Agreement, the entire unpaid principal of this Note, all of the interest accrued
on the unpaid principal of this Note and all (if any) other amounts payable on
or in respect of this Note or the indebtedness evidenced hereby may be declared
to be immediately due and payable, whereupon the entire unpaid principal of this
Note, all of the interest accrued on the unpaid principal of this Note and all
(if any) other amounts payable on or in respect of this Note or the indebtedness
evidenced hereby shall (if not already due and payable) forthwith become and be
due and payable to the holder of this Note without presentment, demand, protest
or any other formalities of any kind, all of which are hereby expressly and
irrevocably waived by the Borrowers.

         All computations of interest payable as provided in this Note shall be
made by the Agent on the basis of the actual number of days elapsed divided by
360. The Prime Rate (as defined in the Credit Agreement) in effect from time to
time shall be determined in accordance with the terms of the Credit Agreement.

         Should all or any part of the indebtedness represented by this Note be
collected by action at law, or in bankruptcy, insolvency, receivership or other
court proceedings, or should this Note be placed in the hands of attorneys for
collection after default, the Borrowers hereby jointly and severally promise to
pay to the holder of this Note, upon demand by the holder hereof at any time, in
addition to principal, interest and all (if any) other amounts payable on or in
respect of this Note or the indebtedness evidenced hereby, all court costs and
attorneys' fees and all other collection charges and expenses reasonably
incurred or sustained by the holder of this Note.

         The Borrowers hereby irrevocably waive notice of acceptance,
presentment, notice of nonpayment, protest, notice of protest, suit and all
other conditions precedent in connection with the delivery, acceptance,
collection and/or enforcement of this Note. The Borrowers hereby absolutely and
irrevocably consent and submit to the jurisdiction of the Courts of the
Commonwealth of Massachusetts and of any Federal Court located in the said
Commonwealth in connection with any actions or proceedings brought against the
Borrowers by the holder hereof arising out of or relating to this Note.

         This Note is intended to take effect as a sealed instrument. This Note
and the obligations of the Borrowers hereunder shall be governed by and
interpreted and determined in accordance with the laws of the Commonwealth of
Massachusetts.

         Each of the Borrowers shall be jointly and severally liable for the
full amount owing under this Note.

                                      -3-
<PAGE>

         IN WITNESS WHEREOF, this REVOLVING CREDIT NOTE has been duly executed
by the undersigned on the day and in the year first above written in Boston,
Massachusetts.

<TABLE>
<S>                                              <C>
                                                     THE BORROWERS:

WITNESS:                                         COURIER CORPORATION

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title:  V.P. & Treasurer

WITNESS:                                         COURIER COMPANIES, INC.

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title: Asst. Treasurer

WITNESS:                                         COURIER FOREIGN SALES
                                                 CORPORATION LIMITED

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title:  Asst. Treasurer

WITNESS:                                         COURIER KENDALLVILLE, INC.

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title:  Asst. Treasurer

WITNESS:                                         COURIER PROPERTIES, INC.

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title: Asst. Treasurer

WITNESS:                                         NATIONAL PUBLISHING COMPANY

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title:  Asst. Treasurer

<PAGE>

<S>                                              <C>
WITNESS:                                         COURIER NEW MEDIA, INC.

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title: Asst. Treasurer

WITNESS:                                         BOOK-MART PRESS, INC.

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title: Asst. Treasurer

WITNESS:                                         MASSACHUSETTS NATIONAL
                                                 PUBLISHING BUSINESS TRUST

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title: Asst. Treasurer

WITNESS:                                         DOVER PUBLICATIONS, INC.

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title:  Asst. Treasurer

WITNESS:                                         DOVER BOOK STORE, INC.

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title:  Asst. Treasurer

WITNESS:                                         COURIER CUSTOM PUBLISHING, INC.

/s/ Elaine Imbrogna                              By: /s/ Lee Cochrane
---------------------                                --------------------------
Title:                                               Title:  Asst. Treasurer
</TABLE>