Document:

Exhibit 4.2
                                  -----------

                         SUBSEQUENT TRANSFER INSTRUMENT

         Pursuant to this Subsequent Transfer Instrument, dated March 8, 2002
(the "Instrument"), between IMH Assets Corp. as Company (the "Company"), and
Bankers Trust Company of California, N.A. as indenture trustee of the IMH Assets
Corp., Collateralized Asset-Backed Bonds, Series 2002-1, as purchaser (the
"Indenture Trustee"), and pursuant to the Indenture, dated as of February 27,
2002 (the "Indenture"), between Impac CMB Trust Series 2002-1, as issuer (the
"Issuer") and the Indenture Trustee as indenture trustee, the Company and the
Indenture Trustee agree to the sale by the Company and the purchase by the
Indenture Trustee in trust, on behalf of the Trust, of the Subsequent Mortgage
Loans on the attached Schedule 1 of Mortgage Loans (the "Subsequent Mortgage
Loans").

                           Capitalized terms used but not otherwise defined
herein shall have the meanings set forth in the Indenture.

                           Section 1.       Conveyance of Subsequent Mortgage
                                            Loans.
                                            ---------------------------------

                           (a) The Company does hereby sell, transfer, assign,
set over and convey to the Indenture Trustee in trust, on behalf of the Trust,
without recourse, all of its right, title and interest in and to the Subsequent
Mortgage Loans, and including all amounts due on the Subsequent Mortgage Loans
after the related Subsequent Cut-off Date, and all items with respect to the
Subsequent Mortgage Loans to be delivered pursuant to Section 2.05 of the
Indenture; provided, however that the Company reserves and retains all right,
title and interest in and to amounts due on the Subsequent Mortgage Loans on or
prior to the related Subsequent Cut-off Date. The Company, contemporaneously
with the delivery of this Agreement, has delivered or caused to be delivered to
the Indenture Trustee each item set forth in Section 2.05 of the Indenture. The
transfer to the Indenture Trustee by the Company of the Subsequent Mortgage
Loans identified on the Mortgage Loan Schedule shall be absolute and is intended
by the Company, the Master Servicer, the Indenture Trustee and the Bondholders
to constitute and to be treated as a sale by the Company to the Trust Fund.

                           (b) The Company, concurrently with the execution and
delivery hereof, does hereby transfer, assign, set over and otherwise convey to
the Indenture Trustee without recourse for the benefit of the Bondholders all
the right, title and interest of the Company, in, to and under the Subsequent
Mortgage Loan Sale and Contribution Agreement, dated March 8, 2002, between the
Company, as purchaser, and Impac Mortgage Holdings, Inc., as seller (the
"Purchase Agreement").

                           (c) Additional terms of the sale are set forth on
Attachment A hereto.

<PAGE>

                           Section 2.       Representations and Warranties;
                                            Conditions Precedent.
                                            -------------------------------

                           (a) The Company hereby confirms that each of the
conditions precedent and the representations and warranties set forth in Section
2.05 of the Indenture are satisfied as of the date hereof.

                           (b) All terms and conditions of the Indenture are
hereby ratified and confirmed; provided, however, that in the event of any
conflict, the provisions of this Instrument shall control over the conflicting
provisions of the Indenture.

                           Section 3.       Recordation of Instrument.
                                            -------------------------

                           To the extent permitted by applicable law, this
Instrument, or a memorandum thereof if permitted under applicable law, is
subject to recordation in all appropriate public offices for real property
records in all of the counties or other comparable jurisdictions in which any or
all of the properties subject to the Mortgages are situated, and in any other
appropriate public recording office or elsewhere, such recordation to be
effected by the Master Servicer at the Bondholders' expense on direction of the
related Bondholders, but only when accompanied by an Opinion of Counsel to the
effect that such recordation materially and beneficially affects the interests
of the Bondholders or is necessary for the administration or servicing of the
Subsequent Mortgage Loans.

                           Section 4.       Governing Law.
                                            -------------

                           This Instrument shall be construed in accordance with
the laws of the State of New York and the obligations, rights and remedies of
the parties hereunder shall be determined in accordance with such laws, without
giving effect to principles of conflicts of law.

                           Section 5.       Counterparts.
                                            ------------

                           This Instrument may be executed in one or more
counterparts and by the different parties hereto on separate counterparts, each
of which, when so executed, shall be deemed to be an original; such
counterparts, together, shall constitute one and the same instrument.

                           Section 6.       Successors and Assigns.
                                            ----------------------

                           This Instrument shall inure to the benefit of and be
binding upon the Company and the Indenture Trustee and their respective
successors and assigns.

<PAGE>

IMH ASSETS CORP.

By:      /s/ Richard J. Johnson
         ----------------------------------
Name:    Richard J. Johnson
Title:   Chief Financial Officer

BANKERS TRUST COMPANY OF
CALIFORNIA, N.A., not in its individual
capacity but solely as Indenture Trustee for
the Trust.

By:      /s/ James Noriega
         ------------------------------------
Name:    James Noriega
Title:   Associate<PAGE>
                                                                    EXHIBIT 10.4

                           STOCK OPTION GRANT PROGRAM
                                       FOR
                         NONEMPLOYEE DIRECTORS UNDER THE
                        QUINTON CARDIOLOGY SYSTEMS, INC.
                            2002 STOCK INCENTIVE PLAN

      The following provisions set forth the terms of the stock option grant
program (the "Program") for nonemployee directors of Quinton Cardiology Systems,
Inc. (the "Company") under the Company's 2002 Stock Incentive Plan (the "Plan").
The following terms are intended to supplement, not alter or change, the
provisions of the Plan, and in the event of any inconsistency between the terms
contained herein and in the Plan, the Plan shall govern. All capitalized terms
that are not defined herein shall be as defined in the Plan.

      1.    ELIGIBILITY

      Each director of the Company elected or appointed who is not otherwise an
employee of the Company or a Related Company (an "Eligible Director") shall be
eligible to receive Initial Grants and Annual Grants under the Plan, as
discussed below.

      2.    INITIAL GRANTS

      A Nonqualified Stock Option to purchase 15,000 shares of Common Stock (an
"Initial Grant") shall be granted to each Eligible Director upon such Eligible
Director's initial election or appointment to the Board. Initial Grants shall
vest and become exercisable in equal monthly installments over the 12-month
period following the date of grant, assuming continued service on the Board for
such period.

      3.    ANNUAL GRANTS

      Commencing with the 2003 annual stockholders meeting, each Eligible
Director shall automatically receive a Nonqualified Stock Option to purchase
5,000 shares of Common Stock immediately following each year's Annual Meeting
(each, an "Annual Grant"); provided that any Eligible Director who received an
Initial Grant within three months prior to an annual meeting shall not receive
an Annual Grant until immediately following the second annual meeting after the
date of such Initial Grant. Annual Grants shall fully vest and become
exercisable in equal monthly installments over the 12-month month period
following the date of grant, assuming continued service on the Board for such
period.

      4.    OPTION EXERCISE PRICE

      The exercise price of an Option shall be the Fair Market Value of the
Common Stock on the Grant Date.
<PAGE>
      5.    MANNER OF OPTION EXERCISE

      An Option shall be exercised by giving the required notice to the Company,
stating the number of shares of Common Stock with respect to which the Option is
being exercised, accompanied by payment in full for such Common Stock, which
payment may be in whole or in part (a) in cash or check (acceptable to the Plan
Administrator), (b) in shares of Common Stock already owned by the Eligible
Director for at least six months (or any shorter period necessary to avoid a
charge to the Company's earnings for financial reporting purposes) having a Fair
Market Value on the day prior to the exercise date equal to the aggregate
exercise price of the shares being purchased under the Option or (c) if and so
long as the Common Stock is registered under the Exchange Act, by delivery of a
properly executed exercise notice, together with irrevocable instructions to a
broker, to promptly deliver to the Company the amount of sale or loan proceeds
to pay the exercise price, all in accordance with the regulation of the Federal
Reserve Board.

      6.    TERM OF OPTIONS

      Each Option shall expire ten years from the date of grant thereof, but
shall be subject to earlier termination as follows:

      (a) In the event that an Eligible Director ceases to be a director of the
Company for any reason other than Retirement or death, the unvested portion of
any Option granted to such Eligible Director shall terminate immediately and the
vested portion of the Option may be exercised by the Eligible Director only
within six months after the date he or she ceases to be a director of the
Company or prior to the date on which the Option expires by its terms, whichever
is earlier.

      (b) In the event of the Retirement or death of an Eligible Director, the
unvested portion of any Option granted to such Eligible Director shall terminate
immediately and the vested portion of the Option may be exercised only within
one year after the date of Retirement or death of the Eligible Director or prior
to the date on which the Option expires by its terms, whichever is earlier, by
the personal representative of the Eligible Director's estate, the person(s) to
whom the Eligible Director's rights under the Option have passed by will or the
applicable laws of descent and distribution or the beneficiary designated
pursuant to Section 11 of the Plan.

      7.    COMPANY TRANSACTIONS

      In the event of any Company Transaction,

      (a) Except as provided in subsection (b) below, each outstanding Option
shall be assumed or an equivalent option or right substituted by the Successor
Company.

      (b) If in connection with a Company Transaction the Successor Company
refuses to assume or substitute for an Option, then each such outstanding Option
shall become fully vested and exercisable with respect to 100% of the unvested
portion of the Option. In such case, the Plan Administrator shall notify the
Participant in writing or electronically that the unvested portion of the Option
specified above shall be fully vested and exercisable for a specified time

                                      -2-
<PAGE>
period. At the expiration of the time period, the Option shall terminate,
provided that the Company Transaction has occurred.

      (c) All Options shall terminate and cease to remain outstanding
immediately following the Company Transaction, except to the extent assumed by
the Successor Company.

      8.    AMENDMENT

      The Board may amend the provisions contained herein in such respects as it
deems advisable. Any such amendment shall not, without the consent of the
Eligible Director, impair or diminish any rights of an Eligible Director or any
rights of the Company under an Option.

      Provisions of the Plan (including any amendments) that were not discussed
above, to the extent applicable to Eligible Directors shall continue to govern
the terms and conditions of Options granted to Eligible Directors.

      9.    EFFECTIVE DATE

      The Program shall become effective on the day shares of the Company's
Common Stock are first offered to the public in an underwritten initial public
offering pursuant to a registration statement filed with and declared effective
by the Securities and Exchange Commission.

                                      -3-

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