Document:

AMENDMENT NO. 1

                          Dated as of February 10, 2000

                                       to

                            CASH COLLATERAL AGREEMENT
                          Dated as of February 8, 2000

           PENNCORP FINANCIAL GROUP, INC., a Delaware corporation (the
"Company"), the lenders signatory to the Cash Collateral Agreement referred to
below (the "Banks"), the Managing Agents and the Co-Agents named therein (the
"Agents") and THE BANK OF NEW YORK, as administrative agent for the Banks (the
"Administrative Agent"), hereby agree as follows:

                                       I.

                            CASH COLLATERAL AGREEMENT
                            -------------------------

           1. Cash Collateral Agreement. (a) Reference is hereby made to the
Cash Collateral Agreement, dated as of February 8, 2000, among the Company, the
Banks, the Agents and the Administrative Agent (the "Cash Collateral
Agreement").

           (b) The Cash Collateral Agreement as amended by this Amendment is and
shall continue to be in full force and effect and is hereby in all respects
confirmed, approved and ratified.

           2. Definitions.

           (a) All terms defined in the Cash Collateral Agreement are used in
this Amendment (this "Amendment") with the meanings therein ascribed to them.

           (b) For purposes of this Amendment and Waiver:

           "Amendment No. 1 Effective Date" shall have the meaning ascribed to
that term in this Amendment.

           3. Representations and Warranties. In order to induce the Banks to
execute and deliver this Amendment, the Company hereby represents and warrants
as follows:

<PAGE>

           (a) The Company has the power, and has taken all necessary action
(including any necessary stockholder action) to authorize it, to execute,
deliver and perform in accordance with their respective terms, this Amendment
and the Cash Collateral Agreement, as amended by this Amendment. This Amendment
has been duly executed and delivered by the duly authorized officers of the
Company and is, and the Cash Collateral Agreement, as amended by this Amendment
is, the legal, valid and binding obligation of the Company enforceable in
accordance with its terms, except as enforceability may be limited by any
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
affecting the enforcement of creditors' rights generally. The execution,
delivery and performance in accordance with their respective terms by the
Company of this Amendment and the Cash Collateral Agreement, as amended by this
Amendment do not and (absent any change in any Applicable Law or applicable
Contract) will not (A) require any Governmental Approval or any other consent or
approval, including any consent or approval of the stockholders of the Company
or of any Subsidiary, to have been obtained, or any Governmental Registration to
have been made, other than Governmental Approvals and other consents and
approvals and Governmental Registrations that have been obtained or made, are
final and not subject to review on appeal or to collateral attack, are in full
force and effect, or (B) violate, conflict with, result in a breach of,
constitute a default under, or result in or require the creation of any Lien
(other than the Security Interest) upon any assets of the Company or any
Subsidiary under (1) any Contract to which the Company, or any Subsidiary is a
party or by which the Company, or any Subsidiary or any of their respective
properties may be bound, or (2) any Applicable Law. As used herein,
"Governmental Approval" shall mean any authority, consent, approval, license (or
the like) or exemption (or the like) of any governmental unit; "Governmental
Registration" shall mean any registration or filing (or the like) with, or
report or notice (or the like) to, any governmental unit.

           (b) Each of the foregoing representations and warranties shall
constitute representations and warranties subject to Section 9(b) of the Cash
Collateral Agreement and shall be made at and as of the Amendment No. 1
Effective Date.

           4. Amendments to the Cash Collateral Agreement. Upon and after the
Amendment No. 1 Effective Date, the Cash Collateral Agreement shall be amended
as follows:

           (a) Section 1.01 is hereby amended to amend the following existing
definition to read as follows:

           "Collateral Account" shall mean (i) for purposes of the Company
Security Agreement, the Bank Account numbered 890-0168-315 and the Custody
Account and (ii) for purposes of this Agreement, the Bank Account numbered
890-0168-315 at BNY.

           "Custody Account" shall mean the Bank Account numbered 934466 at BNY.

           (b) Section 2.01 is hereby amended by: (i) deleting the proviso to
the first sentence of Section 2.01(c) and substituting therefor the following:

           "provided, that no withdrawal in respect of Operating Expenses shall
           be made if, after giving effect thereto, and to all other

                                       2
<PAGE>

           withdrawals then requested to be made from the Collateral Account,
           the remaining aggregate balance in the Collateral Account and the
           Custody Account collectively would be less than $8,500,000."

                      and (ii) adding thereto new subparagraph (d) as follows:

           "(d) At the close of each Business Day, the Collateral Agent shall
           sweep the funds in the Collateral Account into the Custody Account.
           The Administrative Agent shall invest the funds in the Custody
           Account in such Investments, for such periods and amounts, as the
           Company shall direct (in accordance with the investment guidelines
           attached hereto as Exhibit A). Upon the request of the Company, the
           Administrative Agent shall transfer funds from the Custody Account
           into the Collateral Account in order to permit the company to
           withdraw such funds in accordance with Section 2.01(c).

           5. Conditions to Effectiveness: Amendment No. 1 Effective Date. This
Amendment shall be effective as of the date first written above, but shall not
become effective as of such date until the time (such time, the "Amendment No. 1
Effective Date") as this Amendment has been executed and delivered by the
Company, the Majority Banks and the Administrative Agent.

           6. Governing Law. The rights and duties of the Company, the Agent and
the Banks under this Amendment shall, pursuant to New York General Obligations
Law Section 5-1401, be governed by the law of the State of New York.

           7. Counterparts. This Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto were upon the same instrument.

           8. Headings. Section headings in this Amendment are included herein
for convenience and reference only and shall not constitute a part of this
Amendment for any other purpose.

                                       3
<PAGE>

           IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be duly executed as of the day and year first above written.

                       PENNCORP FINANCIAL GROUP, INC.

                       By:  /s/ Scott D. Silverman
                          ----------------------------------
                          Name: Scott D. Silverman
                          Title: Executive Vice President

                       THE BANK OF NEW YORK, as
                       Administrative Agent, Collateral Agent and as a Bank

                       By:  /s/ Peter W. Helt
                          ----------------------------------
                          Name: Peter W. Helt
                          Title: Vice President

                       THE CHASE MANHATTAN BANK, as a
                       Managing Agent and as a Bank

                       By:  /s/ Glenn R. Meyer
                          ----------------------------------
                          Name: Glenn R. Meyer
                          Title: M.D.

                       BANK OF AMERICA, N.A., formerly known as
                       Nations Bank, N.A., as a  Managing
                       Agent and as a Bank

                       By:  /s/ William E. Livingstone IV
                          ----------------------------------
                          Name: William E. Livingstone IV
                          Title: Managing Director

<PAGE>

                       FLEET NATIONAL BANK, as a
                       Co-Agent  and as a Bank

                       By:  /s/ Donald R. Nicholson
                          ----------------------------------
                          Name: Donald R. Nicholson
                          Title: Senior Vice President

                       MELLON BANK, N.A., as a Co-Agent
                       and as a Bank

                       By:  /s/ Gary A. Saul
                          ----------------------------------
                          Name: Gary A. Saul
                          Title: First Vice President

                       BANK OF MONTREAL, as a Co-Agent
                       and as a Bank

                       By:
                          ----------------------------------
                          Name:
                          Title:

                       CIBC INC., as a Co-Agent and as a Bank

                       By:
                          ----------------------------------
                          Name:
                          Title:

<PAGE>

                       DRESDNER BANK AG, NEW YORK AND
                       GRAND CAYMAN BRANCHES, as a Co-
                       Agent and as a Bank

                       By:
                          ----------------------------------
                          Name:
                          Title:

                       By:
                          ----------------------------------
                          Name:
                          Title:

                       FIRST UNION NATIONAL BANK

                       By:  /s/ Thomas L. Stitchberry
                          ----------------------------------
                          Name: Thomas L. Stitchberry
                          Title: Senior Vice President

                       BEAR STEARNS & CO., INC.

                       By:
                          ----------------------------------
                          Name:
                          Title:

                       DK ACQUISITION PARTNERS, L.P.
                       By: M.H. Davidson & Co., its General Partner

                       By:  /s/ Thomas L. Kemper, Jr.
                          ----------------------------------
                          Name: Thomas L. Kemper, Jr.
                          Title: General Partner

                       ING (U.S.) CAPITAL CORPORATION

                       By:
                          ----------------------------------
                          Name:
                          Title:AMENDED AND RESTATED STOCK OPTION AGREEMENT

         AMENDED AND RESTATED STOCK OPTION  AGREEMENT,  dated as of December 21,
1999 (the  "Agreement"),  by and  between  ROBERT D. BRITT,  and GREEN  MOUNTAIN
COFFEE,  INC.,  a Delaware  corporation  with its  principal  place of  business
located at 33 Coffee Lane, Waterbury, Vermont 05676 (the "Corporation").

         WHEREAS,  the parties hereto are parties to that Stock Option Agreement
effective  as of April 15,  1993,  as amended on July 21, 1993 and July 26, 1996
(the  "Original  Agreement"),  which  granted  options  to Robert D.  Britt (the
"Optionee") to acquire shares of the Corporation's  Common Stock, par value $.10
per share ("Common  Stock")  pursuant to certain terms and conditions  contained
therein.

         WHEREAS,  the parties  hereto  desire to amend and restate the Original
Agreement  as more  fully set forth  herein  such that the terms and  conditions
contained in this agreement shall supercede and replace the terms and conditions
set forth in the Original  Agreement as if this  Agreement had been the Original
Agreement on its effective date.

         NOW THEREFORE, in consideration of the mutual covenants and obligations
herein contained, the Corporation and the Optionee do hereby agree as follows:

         1. GRANT OF OPTION.  The Corporation  hereby grants to the Optionee the
right,  privilege,  and option to purchase (the "Option")  from the  Corporation
Forty-Seven  Thousand One Hundred  Forty-Eight  (47,148)  shares of Common Stock
(the  "Optioned  Shares"),  in the manner and subject to conditions set forth in
this Agreement,  at Eight Dollars and Two Cents ($8.02) per share (the "Exercise
Price").

         2. TERM OF OPTION.  The  Option,  to the extent  not  exercised,  shall
terminate on the earlier of (a) April 15, 2008,  which is the  fifteenth  (15th)
anniversary  of the initial  grant date of April 15, 1993 (the "Grant  Date") or
(b) the  date on  which  the  Optionee's  employment  with  the  Corporation  is
terminated for Cause. The term "Cause" as used herein shall mean and include any
of the following events:  fraud or dishonesty,  misappropriation or embezzlement
by the  Optionee  involving  the  Corporation  or any  subsidiary  or  affiliate
thereof; any violation of civil or criminal law; breach of confidentiality;  the
willful  engaging by the Optionee in conduct  which has or could  reasonably  be
expected  to have a material  adverse  effect on the  Corporation  or any of its
subsidiaries  or  affiliates;  or the  material  breach by the  Optionee  of any
representations,  warranties,  agreements  or covenants  made by the Optionee in
this Agreement or any other agreement between the Corporation and the Optionee.

         3. TIME OF  EXERCISE  OF OPTION.  The Option  may be  exercised  by the
Optionee (or, in the event of the  Optionee's  death,  by the  Optionee's  legal
representative  or heirs) as to the Optioned  Shares on or after the Grant Date,
prior to the termination date as determined in accordance with Section 2 hereof.

         4. METHOD OF  EXERCISE  OF OPTION.  The Option  shall be  exercised  by
written notice (the "Notice of Exercise") from the Optionee (or, in the event of
the Optionee's death, from the Optionee's legal  representative or heirs) to the
Corporation  designating  the number of Optioned  Shares to be purchased and the
desired  date of  purchase,  which shall be not less than ten (10) nor more than
thirty  (30)  days  thereafter,  accompanied  by cash or by  check,  subject  to
collection  and  payable  to the order of the  Corporation,  in  payment  of the
Exercise Price for the designated number of Optioned Shares.

         5.  DELIVERY  OF  SHARES.  Upon  receipt  by the  Corporation  from the
Optionee of a Notice of Exercise and payment in full of the  Exercise  Price for
the designated number of Optioned Shares, the Corporation shall deliver, as soon
as  administratively  feasible,  to the Optionee a certificate for such Optioned
Shares  issued  in the name of the  Optionee  (the  "Issued  Shares").  Any such
certificate shall bear conspicuously on its face the following legend:

         "The shares represented by this certificate are "restricted securities"
         as  defined  in and for  purposes  of Rule 144  promulgated  under  the
         Securities Act of 1933, as amended (the "Act") and in the absence of an
         effective  registration  statement,  these  shares  may  not  be  sold,
         transferred,  pledged,  or hypothecated  except in compliance with Rule
         144 or another exemption from registration pursuant to the Act. "

         6.  RIGHTS  PRIOR TO  EXERCISE  OF OPTION.  The Option may not be sold,
transferred,  assigned, pledged,  hypothecated,  or otherwise disposed of in any
way except upon the Optionee's death pursuant to the Optionee's will or the laws
of the State of Vermont regarding a testator's estate, a spouse's elective share
or other similar  provision (the recipient of any such permitted  transfer shall
be know as a "Permitted  Transferee").  The Optionee or any Permitted Transferee
shall have no rights as a shareholder  with respect to any Optioned Shares until
delivery,  in accordance with the provisions of Section 5 of this Agreement,  of
such Optioned Shares as Issued Shares. Any Permitted Transferee shall be subject
to the  Section  7 of this  Agreement  as if the  Permitted  Transferee  was the
Optionee.

         7. RESTRICTED  SHARES.  The Optionee  acknowledges  that (a) the Issued
Shares shall be  "restricted  securities" as defined in and for purposes of Rule
144 promulgated under the Securities Act of 1933, as amended (the "Act"), (b) in
the absence of an effective registration statement, the Issued Shares may not be
sold,  transferred,  pledged, or hypothecated except in compliance with Rule 144
or another  exemption from  registration  pursuant to the Act and (c) the Issued
Shares  will be  evidenced  by a  certificate  bearing  the  legend set forth in
Section 5 of this Agreement.

         8. NO PREEMPTIVE RIGHTS. The Optionee acknowledges that the acquisition
of any Optioned  Shares as Issued Shares under this Agreement does not confer on
the Optionee any preemptive right to purchase, subscribe to, or be first offered
any shares of any class of stock of the  Corporation,  presently or subsequently
authorized,  or  any  notes,  debentures,  bonds,  or  other  securities  of the
Corporation  convertible  into,  or carrying  options or  warrants to  purchase,
shares of any class of the stock of the  Corporation,  presently or subsequently
authorized.

         9.  ADJUSTMENTS.  In the event of any  combination  or  division of the
shares of Common  Stock of the  Corporation,  or the payment of any  dividend on
such stock in shares of such stock, or any  recapitalization in which such stock
is changed into a different security,  appropriate  adjustments shall be made to
the Optioned  Shares as necessary to allow the  provisions of this  Agreement to
operate as if such event(s) had not occurred.

         10. NOTICES.  All exercises of  options, offers,  acceptances, or other
notices pursuant to this Agreement shall be made in writing and delivered within
the  applicable  time  period to the party  entitled  to such  notice under this
Agreement.  Any such notice shall be effective either when tendered in person to
the party  entitled to  such notice;  or on  the  third  (3rd) day  after  being
deposited  in  the  United  States  mail in a  sealed  envelope,  registered  or
certified, with postage and postal charges prepaid,  addressed to the address of
such party as set forth above,  or at such other address as may be designated by
any  of  the  parties  hereto  by  notice to  the  other parties  and  if to the
Corporation, with a copy to H. Kenneth  Merritt, Jr.,  Esq.,  Merritt & Merritt,
30 Main Street, Suite 330, P.O. Box 5839, Burlington, VT  05402.

         11. MISCELLANEOUS.

             11.1     ASSIGNMENT. Except  as  otherwise  specifically   provided
herein, this Agreement may not be assigned by any of the parties hereto.

             11.2     BINDING EFFECT.  This  Agreement shall be binding upon the
parties   hereto   and  their   respective    heirs,    distributees,   personal
representatives, successors and assigns.

             11.3     AMENDMENTS.  No modifications,  amendment,  addition to or
termination of this  Agreement,  nor waiver of any of its  provisions,  shall be
valid or enforceable unless in  writing and signed by all of the parties hereto.

             11.4     SEVERABILITY.  The invalidity  or unenforceability of  any
provisions hereof shall  in no way affect the  validity or enforceability of any
other provisions.

             11.5     ENTIRE  AGREEMENT.  This   Agreement  contains  the entire
agreement  between the  parties  hereto  with  respect  to  the  subject  matter
contained  herein and  supersedes,  nullifies,  voids and  renders of no further
force or effect all prior agreements  between the parties hereto with respect to
the subject matter contained herein.

             11.6     WAIVER. Failure to insist  upon strict compliance with any
of the terms,  covenants, or  conditions hereof  shall not be deemed a waiver of
such term,  covenant or condition nor shall any waiver or  relinquishment of any
right or power  hereunder at any one  time or more  times be deemed  a waiver or
relinquishment of such right or power at any other time or times.

             11.7     COUNTERPARTS.  This  Agreement  may  be  executed  in  any
number of  counterparts,  each of which shall be deemed an original,  and all of
which together shall be deemed one and the same instrument.

             11.8     TITLES.  The titles of  all Sections  are  for convenience
only and shall  not be  considered  in  construing  the  provisions hereof.

             11.9     GOVERNING LAW.  This  Agreement  shall be  governed by and
construed in accordance with the laws of the State of Vermont.

<PAGE>

         IN  WITNESS  WHEREOF,  each of the  parties  hereto has  executed  this
Agreement for the purposes  contained  herein as of the year and day first above
written.

                                                    GREEN MOUNTAIN COFFEE, INC.

                                                    By:   /s/ Robert P. Stiller
                                                    ---------------------------
                                                    Robert P. Stiller, President

                                                     By:  /s/ Robert D. Britt
                                                     ---------------------------
                                                     Robert D. Britt

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