Document:

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                                                                    EXHIBIT 10.2

                                 SCANSOFT, INC.

                     MICHAEL K. TIVNAN EMPLOYMENT AGREEMENT

     This Agreement is made by and between ScanSoft, Inc. (the "Company"), and
Michael K. Tivnan ("Executive") as of August 21, 2000.

     1. DUTIES AND SCOPE OF EMPLOYMENT.

          (a) POSITIONS AND DUTIES. Executive will serve as President and Chief
Operating Officer. Executive will render such business and professional services
in the performance of his duties, consistent with Executive's position within
the Company, as shall reasonably be assigned to him by the Company's Board of
Directors (the "Board") and/or its Chief Executive Officer (the "CEO"). The
period of Executive's employment under this Agreement is referred to herein as
the "Employment Term."

          (b) OBLIGATIONS. During the Employment Term, Executive will devote his
full business efforts and time to the Company. For the duration of the
Employment Term, Executive agrees not to actively engage in any other
employment, occupation or consulting activity for any direct or indirect
remuneration without the prior approval of the CEO (which approval will not be
unreasonably withheld); provided, however, that Executive may, without the
approval of the CEO, serve in any capacity with any civic, educational or
charitable organization, or as a member of corporate Boards of Directors (but in
all cases subject to Section 10).

     2. EMPLOYEE BENEFITS. During the Employment Term, Executive will be
eligible to participate in accordance with the terms of all Company employee
benefit plans that are applicable to other senior executives of the Company, as
such plans and terms may exist from time to time.

     3. AT-WILL EMPLOYMENT. Executive and the Company agree that Executive's
employment with the Company constitutes "at-will" employment. Executive and the
Company acknowledge that this employment relationship may be terminated at any
time, upon written notice to the other party, with or without good cause or for
any or no cause, at the option either of the Company or Executive. However, as
described in this Agreement, Executive may be entitled to severance benefits
depending upon the circumstances of Executive's termination of employment.

     4. COMPENSATION.

          (a) BASE SALARY. During the Employment Term, the Company will pay
Executive as compensation for his services a base salary at the annualized rate
of $275,000 (the "Base Salary").

<PAGE>   2

The Base Salary will be paid through payroll periods that are consistent with
the Company's normal payroll practices, but in all events will not be less
frequent than once per month and will be subject to the usual, required
withholding. The Compensation Committee of the Board (the "Committee") will
reevaluate the Base Salary at least annually and may increase the Base Salary in
accordance with its normal practices. The Base Salary will not be reduced
without Executive's consent.

          (b) BONUSES. For each fiscal year of the Company, Executive will be
eligible to receive a target bonus of up to 45% of his then Base Salary based
upon the achievement of performance criteria specified by the Committee. The
actual amount of the bonus payable for any year will depend upon the extent to
which the applicable performance criteria have been satisfied. Any bonus that
actually is earned will be paid as soon as practicable (but no later than 2 1/2
months) after the end of the fiscal year for which the bonus is earned, but only
if Executive was employed with the Company through the end of the fiscal year.

          (c) STOCK OPTIONS. On August 17, 2000, subject to your execution of
this Agreement, the Board approved a grant of 250,000 options at $1.3438 per
share, which shall vest in full on the first year anniversary of the grant. In
addition, at least once during each fiscal year of the Company, the Compensation
Committee will consider granting Executive an option or options to purchase
shares of the Company's common stock ("Shares") at a per Share exercise price
equal to no more than the fair market value per Share on the grant date(s) of
the option(s). The number and terms and conditions of any options granted to
Executive will be determined in the discretion of the Committee, but the
Committee generally will seek to grant options to Executive in an amount and on
terms and conditions that are at least as favorable as option grants received by
senior officers of companies comparable to the Company.

     5. SEVERANCE.

          (a) VOLUNTARY/INVOLUNTARY TERMINATION OTHER THAN FOR CAUSE, DEATH OR
DISABILITY. If Executive voluntarily terminates his employment with the Company
or if the Company terminates Executive's employment with the Company without his
consent and for a reason other than "Cause" (as defined below), Executive
becoming "Disabled" (as defined below) or Executive's death, then promptly
following such termination of employment, Executive will (i) be paid his then
existing Base Salary for a period of twelve (12) months following his
termination of employment, (ii) receive all accrued vacation, expense
reimbursements and any other benefits due to Executive through the date of
termination of employment in accordance with the Company's then existing
employee benefit plans and policies, (iii) have one (1) year following
termination of employment to exercise his vested Company stock options (whether
granted on, before or after the date of this Agreement), (iv) receive 100% of
his target annual bonus not later than six (6) months following his termination
of employment, (v) receive Company-paid coverage for a period of eighteen (18)
months for himself and his eligible dependents under the Company's health
benefit plans (or, at the Company's option, coverage under a separate plan),
providing benefits that are no less favorable than those provided under the
Company's plans immediately prior to his termination of employment, (vi) receive
such other compensation or benefits from the Company as may be required by law
(for example, under Section 4980B of the Code).

                                      -2-
<PAGE>   3

          (b) TERMINATION DUE TO DEATH OR DISABILITY. If Executive's employment
with the Company is terminated due to his death or his becoming Disabled, then
Executive or Executive's estate (as the case may be) will (i) receive the Base
Salary through the date of termination of employment, (ii) be entitled to
immediate vesting of 50% of any Company stock options held by Executive that
were unvested immediately prior to his termination of employment (whether the
options were granted on, before or after the date of this Agreement), (iii)
receive Company-paid coverage for a period of two (2) years for Executive (if
applicable) and Executive's eligible dependents under the Company's health
benefit plans (or, at the Company's option, coverage under a separate plan),
providing benefits that are no less favorable than those provided under the
Company's plans immediately prior to Executive's death, (iv) receive all accrued
vacation, expense reimbursements and any other benefits due to Executive through
the date of termination of employment in accordance with Company-provided or
paid plans and policies, and (v) not be entitled to any other compensation or
benefits from the Company except to the extent required by law (for example,
under Section 4980B of the Code). For purposes of clause (ii) of the preceding
sentence, the options having the lowest exercise price(s) shall become vested.

          (c) INVOLUNTARY TERMINATION FOR CAUSE. If the Company terminates
Executive's employment with the Company for Cause, then Executive will (i)
receive the Base Salary through the date of termination of employment, (ii)
receive all accrued vacation, expense reimbursements and any other benefits due
to Executive through the date of termination of employment in accordance with
established Company plans and policies, and (iii) not be entitled to any other
compensation or benefits (including, without limitation, accelerated vesting of
stock options) from the Company except to the extent provided under the
applicable stock option agreement(s) or as may be required by law (for example,
under Section 4980B of the Code).

          (d) CAUSE. For purposes of this Agreement, "Cause" means intentional
misconduct that has a material adverse effect on the Company. Misconduct by
Executive will be considered Cause only if Executive has received written notice
from the CEO of the misconduct and Executive has not cured the misconduct within
fifteen (15) business days of his receipt of the notice.

          (e) DISABLED. For purposes of this Agreement, "Disabled" means
Executive being unable to perform the principal functions of his duties due to a
physical or mental impairment, but only if such inability has lasted or is
reasonably expected to last for at least six months. Whether Executive is
Disabled shall be determined by the Committee based on evidence provided by one
or more physicians selected by the Committee.

     6. ASSIGNMENT. This Agreement will be binding upon and inure to the benefit
of (a) the heirs, executors and legal representatives of Executive upon
Executive's death and (b) any successor of the Company. Any such successor of
the Company will be deemed substituted for the Company under the terms of this
Agreement for all purposes. For this purpose, "successor" means any person,
firm, corporation or other business entity which at any time, whether by
purchase, merger or otherwise, directly or indirectly acquires all or
substantially all of the assets or business of the Company. None of the rights
of Executive to receive any form of compensation payable pursuant to this
Agreement may be assigned or transferred except by will or the laws of descent
and distribution.

                                      -3-
<PAGE>   4

Any other attempted assignment, transfer, conveyance or other disposition of
Executive's right to compensation or other benefits will be null and void.

     7. NOTICES. All notices, requests, demands and other communications called
for hereunder shall be in writing and shall be deemed given (i) on the date of
delivery if delivered personally, (ii) one (1) day after being sent by a well
established commercial overnight service, or (iii) four (4) days after being
mailed by registered or certified mail, return receipt requested, prepaid and
addressed to the parties or their successors at the following addresses, or at
such other addresses as the parties may later designate in writing:

         If to the Company:

         ScanSoft, Inc.
         9 Centennial Drive
         Peabody, MA  01969

         ATTN: Chairman and Chief Executive Officer

         If to Executive:

         at the last residential address known by the Company.

     8. SEVERABILITY. In the event that any provision hereof becomes or is
declared by a court of competent jurisdiction to be illegal, unenforceable or
void, this Agreement will continue in full force and effect without said
provision.

     9. NON-COMPETITION AND NON-SOLICITATION. For a period beginning on the
Effective Date and ending one year after the Executive ceases to be employed by
the Company, Executive, directly or indirectly, whether as employee, owner, sole
proprietor, partner, director, member, consultant, agent, founder, co-venturer
or otherwise, will: (i) not engage, participate or invest in any business
activity anywhere in the United States that is directly competitive with the
principal markets, products and services of the Company at the time of
Executive's termination; PROVIDED, HOWEVER, that it will not be a violation of
this Section 10(a) for Executive to own (as a passive investment): (A) not more
than two percent of any class of publicly traded securities of any entity or (B)
not more than five percent of any class of non-publicly traded securities of any
entity; (ii) not solicit, induce or influence any person to leave employment
with the Company; (iii) not directly or indirectly solicit business from any of
the Company's customers and users on behalf of any business that directly
competes with the principal business of the Company.

     10. ENTIRE AGREEMENT. This Agreement represents the entire agreement and
understanding between the Company and Executive concerning Executive's
employment relationship with the Company, and supersedes and replaces any and
all prior agreements and understandings concerning Executive's employment
relationship with the Company.

     11. ARBITRATION AND EQUITABLE RELIEF.

                                      -4-
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          (a) Except as provided in Section 12(d) below, Executive and the
Company agree that to the extent permitted by law, any dispute or controversy
arising out of, relating to, or in connection with this Agreement, or the
interpretation, validity, construction, performance, breach, or termination
thereof will be settled by arbitration to be held in or about Peabody,
Massachusetts, in accordance with the National Rules for the Resolution of
Employment Disputes then in effect of the American Arbitration Association (the
"Rules"). The arbitrator may grant injunctions or other relief in such dispute
or controversy. The decision of the arbitrator will be final, conclusive and
binding on the parties to the arbitration. Judgment may be entered on the
arbitrator's decision in any court having jurisdiction.

          (b) The arbitrator will apply Massachusetts law to the merits of any
dispute or claim, without reference to rules of conflict of law. Executive
hereby expressly consents to the personal jurisdiction of the state and federal
courts located in Massachusetts for any action or proceeding arising from or
relating to this Agreement and/or relating to any arbitration in which the
parties are participants.

          (c) The Company will pay the direct costs and expenses of the
arbitration. The Company and Executive each will separately pay its counsel fees
and expenses.

          (d) The Company or Executive may apply to any court of competent
jurisdiction for a temporary restraining order, preliminary injunction, or other
interim or conservatory relief, as necessary to enforce the provisions of the
confidential information and trade secrets agreement between the Company and
Executive, without breach of this arbitration agreement and without abridgement
of the powers of the arbitrator.

          (e) Executive understands that nothing in Section 12 modifies
Executive's at-will status. Either the Company or Executive can terminate the
employment relationship at any time, with or without cause.

          (f) EXECUTIVE HAS READ AND UNDERSTANDS SECTION 12, WHICH DISCUSSES
ARBITRATION. EXECUTIVE UNDERSTANDS THAT BY SIGNING THIS AGREEMENT, EXECUTIVE
AGREES TO THE EXTENT PERMITTED BY LAW, TO SUBMIT ANY FUTURE CLAIMS ARISING OUT
OF, RELATING TO, OR IN CONNECTION WITH THIS AGREEMENT, OR THE INTERPRETATION,
VALIDITY, CONSTRUCTION, PERFORMANCE, BREACH, OR TERMINATION THEREOF TO BINDING
ARBITRATION, AND THAT THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF
EXECUTIVE'S RIGHT TO A JURY TRIAL AND RELATES TO THE RESOLUTION OF ALL DISPUTES
RELATING TO ALL ASPECTS OF THE EMPLOYER/EXECUTIVE RELATIONSHIP, INCLUDING BUT
NOT LIMITED TO, THE FOLLOWING CLAIMS:

               (i) ANY AND ALL CLAIMS FOR WRONGFUL DISCHARGE OF EMPLOYMENT;
BREACH OF CONTRACT, BOTH EXPRESS AND IMPLIED; BREACH OF THE COVENANT OF GOOD
FAITH AND FAIR DEALING, BOTH EXPRESS AND IMPLIED; NEGLIGENT OR INTENTIONAL
INFLICTION OF EMOTIONAL DISTRESS; NEGLIGENT OR

                                      -5-
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INTENTIONAL MISREPRESENTATION; NEGLIGENT OR INTENTIONAL INTERFERENCE WITH
CONTRACT OR PROSPECTIVE ECONOMIC ADVANTAGE; AND DEFAMATION;

               (ii) ANY AND ALL CLAIMS FOR VIOLATION OF ANY FEDERAL STATE OR
MUNICIPAL STATUTE, INCLUDING, BUT NOT LIMITED TO, THE AMERICANS WITH
DISABILITIES ACT OF 1990, THE FAIR LABOR STANDARDS ACT, AND ANY LAW OF THE STATE
OF MASSACHUSETTS; AND

               (iii) ANY AND ALL CLAIMS ARISING OUT OF ANY OTHER LAWS AND
REGULATIONS RELATING TO EMPLOYMENT OR EMPLOYMENT DISCRIMINATION.

     12. NO ORAL MODIFICATION, CANCELLATION OR DISCHARGE. This Agreement may be
changed or terminated only in writing (signed by Executive and the Company).

     13. WITHHOLDING. The Company is authorized to withhold, or cause to be
withheld, from any payment or benefit under this Agreement the full amount of
any applicable withholding taxes.

     14. GOVERNING LAW. This Agreement will be governed by the laws of the State
of Massachusetts (with the exception of its conflict of laws provisions).

     15. EFFECTIVE DATE. This Agreement is effective August 21, 2000.

     16. ACKNOWLEDGMENT. Executive acknowledges that he has had the opportunity
to discuss this matter with and obtain advice from his private attorney, has had
sufficient time to, and has carefully read and fully understands all the
provisions of this Agreement, and is knowingly and voluntarily entering into
this Agreement.

     IN WITNESS WHEREOF, the undersigned have executed this Agreement on the
respective dates set forth below:

     EXECUTIVE

                /s/                             Date:  As of August 21, 2000
         ------------------------------
         Michael K. Tivnan

         SCANSOFT, INC.

                    /s/                         Date:  As of August 21, 2000
         ------------------------------
         Paul A. Ricci
         Chairman and Chief Executive Officer

                                      -6-<PAGE>   1
                                                                   Exhibit 10.19

           AMENDMENT TO THE REVOLVING CREDIT AND TERM LOAN AGREEMENT

                               [FLEET LETTERHEAD]

                                             October 23, 2000

Nashua Corporation
11 Trafalgar Square
2nd Floor
Nashua, NH 03063

Rittenhouse Paper Company
250 South Northwest Highway
Parkridge, IL 60068

Rittenhouse, L.L.C.
11 Trafalgar Square
2nd Floor
Nashua, NH 03063

RE:  FINANCIAL COVENANTS VIOLATION WAIVER

Ladies and Gentlemen:

     Reference is hereby made to that certain Revolving Credit and Term Loan
Agreement dated April 14, 2000 (the "Credit Agreement") by and among Nashua
Corporation ("Nashua"), Rittenhouse, L.L.C. ("Rittenhouse"), Rittenhouse Paper
Company ("RPC") (Nashua, Rittenhouse and RPC are referred to individually as a
"Borrower" and collectively as the "Borrowers") and Fleet National Bank
(successor by merger to Fleet Bank-NH) ("Fleet") as a Lender and as an Agent for
itself and the other Lender, LaSalle Bank National Association ("LaSalle") and
other lenders from time to time as a party thereto (collectively, the
"Lenders"). Capitalized terms used herein which are not otherwise defined, shall
have the meaning given to such terms in the Credit Agreement.

     The purpose of this correspondence is to set forth the terms and conditions
of the Lenders' agreement to waive the Borrowers' violations of the Total Funded
Debt to EBITDA Ratio and the Fixed Charge Coverage Ratio as set forth in
Sections 8(b) and 8(c) in the Credit Agreement for the third quarter ending
September 30, 2000.  In consideration of the Lenders agreeing to waive the
foregoing Total Funded Debt to EBITDA Ratio and the Fixed Charge Coverage Ratio
violations for said third quarter, the Borrowers agree to pay a waiver fee in
the amount of

A FleetBoston Financial Company

<PAGE>   2
October 23, 2000
Page 2

$87,500 upon execution of this Letter Agreement. Also, in consideration of said
waivers, the Borrowers and the Lenders agree to amend the Credit Agreement as
follows:

     1.  Section 6.2(f) of the Credit Agreement is hereby amended by deleting it
in its entirety and replacing it with the following:

     "On or before every Wednesday of each week, the Borrowers shall deliver to
     the Lenders a weekly certificate in the form attached hereto as Exhibit C,
     certifying the amount of the Borrowing Base for the previous week ending on
     the previous Friday;"

     2.  Section 6.2(k) of the Credit Agreement is hereby amended by adding the
following at the end of said Section:

     "The Borrowers shall accord the Lenders and the Lenders' representatives
     with access from time to time (including periodic audits performed at the
     Lenders' reasonable discretion) as the Lenders and such representatives may
     require to all properties owned by or over which any Borrower has control,
     for purposes of auditing the Borrowers' books and records. The Borrowers
     shall pay the Lenders such fees and expenses as it customarily charges in
     connection with such audits during the term of this Credit Agreement. The
     Lenders and the Lenders' representatives shall have the right and the
     Borrowers will permit the Lenders and such representatives from time to
     time as the Lenders and such representatives may request, to examine,
     inspect, copy and make extracts from any and all of the Collateral, and any
     and all of the Borrowers' books, records, electronic stored data, papers
     and files, and to verify the Collateral or any portion thereof (such
     verification including, without limitation, through contract with account
     debtors)."

     3.  Section 6.12 of the Credit Agreement is hereby amended by adding the
following at the end of said Section:

     "At the Lenders' request, Rittenhouse agrees to transfer all collections in
     the lockbox account maintained by LaSalle to the Agent on a daily basis
     using electronic funds transfers."

     4.  Section 7.7 of the Credit Agreement is hereby amended by deleting the
phrase", and in excess of $10,000,000 in the aggregate in any one fiscal year
thereafter" appearing in the first sentence thereof and replacing said phrase
with", and, commencing January 1, 2001, in excess of $5,500,000 in the aggregate
in any one fiscal year thereafter."

     This Letter Agreement shall constitute an amendment to the terms and
conditions of the Loan Documents as well as the Credit Agreement. All references
to the Loan Documents, shall

<PAGE>   3

October 23, 2000
Page 3

hereinafter refer to such documents as amended. The provisions of the Loan
Documents, as modified herein, shall remain in full force and effect in
accordance with their terms and are hereby ratified and confirmed.

     The Borrowers shall execute and deliver such additional documents and do
such other acts as the Lenders may reasonably require to implement the intent of
this Letter Agreement fully. The Borrowers shall pay all costs and expenses,
including but not limited to, attorneys' fees, incurred by the Lenders in
connection with this Letter Agreement. To the extent not otherwise paid from the
Revolving Credit Loan, the Agent, at its option, but without any obligation to
do so, may advance funds to pay any such costs and expenses that are the
obligations of the Borrowers, and all such funds advanced shall bear interest at
the highest rate provided in any Notes. This Letter Agreement may be executed in
several counterparts by the Borrowers and the Lenders, each of which shall be
deemed an original but all of which together shall constitute one and the same
Agreement.

     If the foregoing is acceptable, please sign below to indicate your consent
and agreement to the above.

                                        Very truly yours,

                                        FLEET NATIONAL BANK (successor by merger
                                        to FLEET BANK-NH), as Agent

/s/ Gregory J. Shaw                     By: /s/ John A. Hopper
-----------------------------              -------------------------------------
Witness                                         John A. Hopper, Its Duly
                                                Authorized Senior Vice President

      Agreed and consented to:

/s/ Linda J. Madden                     By: /s/ John L. Patenaude
-----------------------------              -------------------------------------
Witness                                         John L. Patenaude, Its Duly
                                                Authorized Vice President -
                                                Finance - CFO

                                        RITTENHOUSE PAPER COMPANY

/s/ Linda J. Madden                     By: /s/ John L. Patenaude
-----------------------------              -------------------------------------
Witness                                         John L. Patenaude, Its Duly
                                                Authorized Treasurer - V.P.

<PAGE>   4
October 23, 2000
Page 4

                                      RITTENHOUSE, L.L.C.

/s/ Linda J. Madden                   By: /s/ John L. Patenaude
-------------------------------           ------------------------------------
Witness                                   John L. Patenaude, Its Duly
                                          Authorized Vice President-Treasurer

STATE OF NEW HAMPSHIRE
COUNTY OF HILLSBOROUGH

     The foregoing instrument was acknowledged before me this 25th day of
October, 2000, by John A. Hopper, the duly authorized Senior Vice President, of
FLEET NATIONAL BANK (successor by merger to Fleet-NH), a national bank organized
under the laws of the United States, on behalf of the same.

                                      ----------------------------------------
                                      Justice of the Peace/Notary Public
                                      My Commission Expires: _________________
                                      Notary Seal

STATE OF NEW HAMPSHIRE
COUNTY OF HILLSBOROUGH

     The foregoing instrument was acknowledged before me this 25th day of
October, 2000, by John L. Patenaude, the duly authorized Vice President-Finance
and CFO of NASHUA CORPORATION, a Delaware corporation, on behalf of the same.

                                      /s/ Suzanne L. Ansara
                                      ----------------------------------------
                                      Justice of the Peace/Notary Public
                                      My Commission Expires: _________________
                                      Notary Seal

                                                 SUZANNE L. ANSARA
                                                   NOTARY PUBLIC
                                               STATE OF NEW HAMPSHIRE
                                         My commission expires Jan. 20, 2004
<PAGE>   5
October 23, 2000
Page 5

STATE OF NEW HAMPSHIRE
COUNTY OF HILLSBOROUGH

     The foregoing instrument was acknowledged before me this 25th day of
October, 2000, by John L. Patenaude, the duly authorized Vice
President-Treasurer of RITTENHOUSE PAPER COMPANY, an Illinois corporation, on
behalf of the same.

                                      /s/ Suzanne L. Ansara
                                      ----------------------------------------
                                      Justice of the Peace/Notary Public
                                      My Commission Expires: _________________
                                      Notary Seal

                                                 SUZANNE L. ANSARA
                                                   NOTARY PUBLIC
                                               STATE OF NEW HAMPSHIRE
                                         My commission expires Jan. 20, 2004

STATE OF NEW HAMPSHIRE
COUNTY OF HILLSBOROUGH

     The foregoing instrument was acknowledged before me this 25th day of
October, 2000, by John L. Patenaude, the duly authorized Vice
President-Treasurer of RITTENHOUSE, L.L.C., an Illinois limited liability
company, on behalf of the same.

                                      /s/ Suzanne L. Ansara
                                      ----------------------------------------
                                      Justice of the Peace/Notary Public
                                      My Commission Expires: _________________
                                      Notary Seal

                                                 SUZANNE L. ANSARA
                                                   NOTARY PUBLIC
                                               STATE OF NEW HAMPSHIRE
                                         My commission expires Jan. 20, 2004
<PAGE>   6
October 23, 2000
Page 6

          LENDER COUNTERPART SIGNATURE PAGE TO LETTER AGREEMENT AMONG
     NASHUA CORPORATION, RITTENHOUSE PAPER COMPANY AND RITTENHOUSE, L.L.C.,
                 AS BORROWERS AND FLEET NATIONAL BANK, AS AGENT

    Agreed and Consented to:

                                      LASALLE BANK NATIONAL ASSOCIATION
                                      as Lender

[Illegible]                           By: /s/ Brian L. Sullivan
-------------------------------           ------------------------------------
Witness                                   Brian L. Sullivan, Its Duly
                                          Authorized Assistant Vice President

STATE OF NEW HAMPSHIRE
COUNTY OF HILLSBOROUGH

     The foregoing instrument was acknowledged before me this 24th day of
October, 2000, by Effie Dale Scott, the duly authorized Notary Public of LaSalle
Bank National Association, a national banking association, on behalf of the
same.

                                      /s/ Effie Dale Scott
                                      ----------------------------------------
                                      Justice of the Peace/Notary Public
                                      My Commission Expires: 03/24/03
                                      Notary Seal

                                                    OFFICIAL SEAL
                                                   EFFIE DALE SCOTT
                                            NOTARY PUBLIC, STATE OF ILLINOIS
                                            MY COMMISSION EXPIRES: 03/24/03

<PAGE>   7
October 23, 2000
Page 7

          LENDER COUNTERPART SIGNATURE PAGE TO LETTER AGREEMENT AMONG
     NASHUA CORPORATION, RITTENHOUSE PAPER COMPANY AND RITTENHOUSE, L.L.C.,
                 AS BORROWERS AND FLEET NATIONAL BANK, AS AGENT

    Agreed and Consented to:

                                      FLEET NATIONAL BANK (successor by merger
                                      to FLEET BANK-NH), as Lender

/s/ Gregory J. Shaw                   By: /s/ John A. Hopper
-------------------------------           ------------------------------------
Witness                                   John A. Hopper, Its Duly
                                          Authorized Senior Vice President

STATE OF NEW HAMPSHIRE
COUNTY OF HILLSBOROUGH

     The foregoing instrument was acknowledged before me this _____ day of
October, 2000, by John A. Hopper, the duly authorized Senior Vice President of
FLEET NATIONAL BANK (successor by merger to Fleet Bank-NH), a national bank
organized under the laws of the United States, on behalf of the same.

                                      ----------------------------------------
                                      Justice of the Peace/Notary Public
                                      My Commission Expires: 03/24/03
                                      Notary Seal

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