Document:

EXHIBIT 4.1

     THIS FIRST Amendment, dated as of August 15, 2001 ("First Amendment")
between LEHMAN ABS CORPORATION, a Delaware corporation ("Depositor") and U.S.
BANK TRUST NATIONAL ASSOCIATION, a national banking association, as trustee (the
"Trustee"), to the Series Supplement, dated as of May 24, 2001 (the "First
Supplement"), as supplemented by a supplement to the Series Supplement, dated as
of June 29, 2001 (the "Second Supplement" and, together with the First
Supplement, the "Series Supplement"), which supplements the Standard Terms for
Trust Agreements, dated as of January 16, 2001 (the "Standard Terms" and,
together with the Series Supplement, the "Trust Agreement"), between the
Depositor and the Trustee.

     WHEREAS, Section 10.01 of the Standard Terms permits the amendment of the
Series Supplement to correct a provision therein upon the terms and conditions
specified therein; and

     WHEREAS, the parties to the Trust Agreement wish to amend the Series
Supplement as set forth herein.

     NOW, THEREFORE, the Parties agree that the Series Supplement is hereby
amended effective as of the date hereof as follows:

     Section 1. Definitions. Capitalized terms used but not defined herein shall
have the meaning assigned to such term in the Trust Agreement.

     Section 2. Amendment. The discount rate identified in Section 5(c)(iii) of
the First Supplement, is hereby corrected to be 7.625%. This correction conforms
the Trust Agreement with the terms of the securities as understood by the
parties, and as expressed in the Prospectus Supplement.

     Section 3. Ratification of Series Supplement. The Series Supplement, as
amended hereby, is in all respects ratified and confirmed.

     Section 4. Counterparts. This Amendment may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but
all of such counterparts shall together constitute but one and the same
instrument.

     Section 5. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS
MADE AND PERFORMED WITHIN THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE
CHOICE OF LAWS PROVISIONS THEREOF.

     Section 6. Waiver of Notice. Each of the Parties waives any prior notice
and any notice period that may be required by any other agreement or document in
connection with the execution of this Amendment.

     Section 7. Headings. The headings of Sections contained in this Amendment
are provided for convenience only. They form no part of this Amendment or the
Series Supplement and shall not

<PAGE>

affect the construction or interpretation of this Amendment or Series Supplement
or any provisions hereof or thereof.

     IN WITNESS WHEREOF, the parties hereto have executed this First Amendment
as of the date set forth on the first page hereof.

                            LEHMAN ABS CORPORATION,
                                  as Depositor

                            By:   /s/ RENE CANEZIN
                                -------------------------------------
                                  Name:  Rene Canezin
                                  Title: Senior Vice President

                            U.S. BANK TRUST NATIONAL ASSOCIATION,
                                  not in its individual capacity
                                  but solely as Trustee on behalf
                                  of the Corporate Backed Trust
                                  Certificates, Series 2001-22
                                  Trust

                            By:   /s/ MARLENE FAHEY
                                -------------------------------------
                                  Name:  Marlene Fahey
                                  Title: Vice President and Assistant Secretary

                                       2<PAGE>

Exhibit 10.12-1

                                                  ABM LOGO

August 14, 2001

Robert L. Aromando, Jr.
22 Homestead Farm Road
Alexandria Township
Milford, New Jersey 08848

Re: Amendment to Employment Contract dated March 8, 2001

Dear Mr. Aromando:

Pursuant to meetings held on July 18, 2001 by the Compensation Committee and the
Board of Directors of American Bio Medica Corporation, we have outlined below
the amended terms and/or conditions of your original contract dated March 8,
2001. Those terms and/or conditions not noted below will remain unchanged from
your original contract.

                                Salary and Bonus

Your base salary will be $15,000 per month, which is equivalent to $180,000 on
an annualized basis. You will be eligible for your first performance and merit
review by the Board of Directors in May 2001; any merit award will be prorated
for your length of service. In addition, you will be issued options to purchase
300,000 common shares of ABMC at an exercise price determined by the closing
market price on your official start date, March 1, 2001. All of your stock
options will vest over a three-year period in annual increments of 33.3% per
year on the anniversary date of the grant. Also, ABMC will provide you with a
monthly car allowance of $750.00, payable on or about the 1st of each month, and
will also provide reimbursement of all business related expenses including, but
not limited to, gas, tolls, emergency repairs while on ABMC business, telephone
etc.

The bonus plan has been set up to provide rewards to you based on achieving
milestones in both the net sales and net income numbers (as set forth in ABMC's
annual audited financial statements) over a period of time. You will be issued
options to purchase 500,000 common shares of ABMC at an exercise price to be
determined by the closing market price on the date the amendment was approved by
the Compensation Committee, July 18, 2001. The stock options will either vest or
will be cancelled and returned to the option plan, based upon company
performance as indicated below.

                        Net          Net         Cash          Stock
Year                   Sales       Income        Bonus        Options

FY 02                  $15M         $1.5M      $ 50,000       125,000
FY 03                  $25M         $5.0M      $250,000       125,000
FY 04                  $40M         $7.5M      $500,000       125,000

The remaining 125,000 options will vest in Fiscal Year 05. Performance criteria
for vesting will be visited at a later date but will not include any additional
large option grants.
<PAGE>

Payout of cash bonus and stock options will be contingent upon achieving a
minimum of 90% of the stated goals. Cash bonus will be paid and issued no later
than 30 days after the date ABMC's accountants submit the audited financial
statements to the Board of Directors for its review.

Sincerely,

/s/ Gerald Moore
---------------------------------------------------
Gerald Moore
Director and Chairman of the Compensation Committee

/s/ Stan Cipkowski
---------------------------------------------------
Stan Cipkowski
President

Accepted this 14th day of August, 2001 by:

/s/ Robert L. Aromando Jr.
---------------------------------------------------
Robert L. Aromando, Jr.
Chief Executive Officer
<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

        Date of report (Date of earliest event reported): October 2, 2001

                         AMERICAN BIO MEDICA CORPORATION
             (Exact Name of Registrant as Specified in its Charter)

          New York                     0-28666                  14-1702188
----------------------------   ------------------------   ----------------------
(State or Other Jurisdiction   (Commission File Number)      (IRS Employer
     of Incorporation)                                    Identification Number)

              122 Smith Road, Kinderhook, NY                 12106
          (Address of Principal Executive Offices)        (Zip Code)

       Registrant's telephone number, including area code: (800) 227-1243
<PAGE>

ITEM 5.  OTHER EVENTS

         On October 2, 2001 the Board of Directors of the registrant accepted
the resignation of Stan Cipkowski as President and Cipkowski was appointed to
the position of Executive Vice President of the registrant. Cipkowski also
remains a Director of the registrant. Robert L. Aromando Jr. was named President
and remains Chief Executive Officer and resigned from his position of Chairman
of the Board of Directors. Aromando also remains as a Director of the
registrant. Gerald Moore, a current Director of the registrant, was elected
Chairman of the Board of Directors.

         On October 2, 2001, the shareholders of the registrant ratified the
proposal to allow the registrant to increase its authorized capital stock from
Thirty Million (30,000,000) shares of $0.01 par value common stock to Fifty
Million (50,000,000) shares of $0.01 par value common stock. There was no change
to the current issued and outstanding stock as a result of this action and all
shareholder rights and preferences remain the same.

ITEM 8.  CHANGE IN FISCAL YEAR

         On October 2, 2001, the Board of Directors of the registrant determined
to change its fiscal year end from April 30, which was the fiscal year used in
its most recent filing with the Commission, to December 31. The report covering
the eight-month transition period ending December 31, 2001, will be filed with
the Commission on Form 10-KSB.
<PAGE>

                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                              AMERICAN BIO MEDICA CORPORATION
                                                      (Registrant)

Dated:  October 5, 2001                       By: /s/ Keith E. Palmer
                                                  ----------------------------
                                                  Keith E. Palmer
                                                  Chief Financial Officer
<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

        Date of report (Date of earliest event reported): October 4, 2001

                         AMERICAN BIO MEDICA CORPORATION
             (Exact Name of Registrant as Specified in its Charter)

          New York                     0-28666                14-1702188
----------------------------  ------------------------  ----------------------
(State or Other Jurisdiction  (Commission File Number)      (IRS Employer
      of Incorporation)                                 Identification Number)

              122 Smith Road, Kinderhook, NY               12106
        (Address of Principal Executive Offices)        (Zip Code)

     Registrant's telephone number, including area code: (800) 227-1243
<PAGE>

ITEM 4.  CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANTS

         On October 4, 2001, the registrant selected PricewaterhouseCoopers, LLP
to act as its independent accountants and discharged its prior auditors, Richard
A. Eisner & Company, LLP. In connection with its audits for each of the two
years in the period ended April 30, 2001 and thereafter, there were no
disagreements with the prior auditors on any matters of accounting principles or
practices, financial statement disclosure, or auditing scope or procedures. The
prior auditors' report on the registrant's financial statements for each of the
two years in the period ended April 30, 2001 contained no adverse opinion or
disclaimer of opinion and was not modified or qualified as to uncertainty, audit
scope, or accounting principles. However, their report contained explanatory
language regarding the uncertainty of the Company's ability to continue as a
going concern. The decision to change accountants was approved by the Board of
Directors of the registrant on October 2, 2001. The prior auditors have
furnished the registrant with a letter addressed to the Securities and Exchange
Commission stating their agreement with the above statements. This letter is
attached.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND EXHIBITS.

         (b) Exhibits.

             The following exhibits are filed with this report on Form 8-K:

             10  Letter of Richard A. Eisner & Company, LLP regarding change in
                 certifying accountant
<PAGE>

                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                          AMERICAN BIO MEDICA CORPORATION
                                                  (Registrant)

Dated:  October 9, 2001                   By: /s/ Keith E. Palmer
                                              -----------------------
                                              Keith E. Palmer
                                              Chief Financial Officer
<PAGE>

Exhibit Index

Exhibit No.                   Description                          Page No.
-----------                   -----------                          --------

    10           Letter of Richard A. Eisner & Company, LLP           5
                 regarding change in certifying accountant
<PAGE>

                (Letterhead of Richard A. Eisner & Company, LLP)

October 9, 2001                                                    Exhibit 10

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC  20549

Re: American Bio Medica Corporation
    Commission File #0-28666

Gentlemen:

We have read the above referenced Registrant's response to Item 4 - Changes in
Registrant's Certifying Accountant with respect to its Current Report on Form
8-K dated October 9, 2001 and concur with the statements made therein.

Sincerely,

/s/ Richard A. Eisner & Company, LLP
------------------------------------
RICHARD A. EISNER & COMPANY, LLP

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