Document:

<PAGE>

                                                                    Exhibit 10.2

                FIRST AMENDMENT TO CREDIT AND SECURITY AGREEMENT

      THIS FIRST AMENDMENT TO CREDIT AND SECURITY AGREEMENT (this "Amendment")
is entered into as of December 21, 2004, by and between AMPAC CAPITAL SOLUTIONS,
LLC, a Nevada limited liability company ("Lender"), and U.S. PLASTIC LUMBER
LTD., a Delaware corporation as debtor and debtor in possession (the
"Borrower"), with respect to the following:

            A.    The Lender and the Borrower have entered into that certain
Credit and Security Agreement dated as of September 7, 2004 (as amended,
restated, modified and supplemented from time to time, including by this
Amendment, the "Loan Agreement"). Capitalized terms used but not defined in this
Amendment shall have the meanings given to them in the Loan Agreement.

            B.    The outstanding principal balance of the Note as of the date
hereof is $1,000,000.

            C.    The Borrower has requested that the Lender agree to loan an
additional $500,000 to the Borrower and the Lender has agreed to amend the Loan
Agreement on the terms and conditions set forth herein.

            D.    The Borrower has also requested that the Lender agree to
change the maturity date for the Advances from December 2, 2004 and the Lender
has agreed to amend the Loan Agreement on the terms and conditions set forth
herein.

      NOW, THEREFORE, in consideration of the foregoing and the terms and
conditions hereof, the parties hereto do hereby agree that the foregoing
recitals are incorporated herein by this reference and as follows:

            1.    TERM ADVANCE. The Loan Agreement is hereby amended to provide
for a Term Advance Loan (the "Term Advance Loan") under the Credit Facility
subject to the following terms and conditions:

                  (a)   The amounts advanced by the Lender to Borrower under the
Term Advance Loan (each advance, a "Term Advance" and collectively the "Term
Advances") shall be evidenced by a promissory note in favor of the Lender in
form of Exhibit "A" hereto (the "Term Advance Note"). The aggregate amount of
the Term Advances made under the Term Advance Loan shall not exceed Five Hundred
Thousand Dollars ($500,000). Borrower hereby agrees to repay the Lender the Term
Advances, together with interest thereon, in the manner provided herein and in
the Term Advance Note. The principal owing hereunder in respect of the Term
Advances at any given time shall equal the aggregate amount of the Term Advances
made hereunder minus all principal payments thereon received by the Lender in
respect of the Term Advance. The outstanding principal balance of the Term
Advances shall bear interest at the rate of 1.25% per month. The Term Advance
Note shall be due and payable in full on the Termination Date.

                                       1
<PAGE>

                  (b)   Except as set forth below or otherwise provided in this
Amendment, each Term Advance shall be treated in the same manner as an Advance:

                        (i)   Each Term Advance shall not be subject to the
Borrowing Base.

                        (ii)  The Borrower may request a Term Advance pursuant
to Section 2.2(a) of the Loan Agreement beginning on the date upon which the
Lender receives a signed copy of a final, non-appealable order of the Bankruptcy
Court approving this Amendment (with such modifications as are approved by the
Lender in its sole discretion) (the "Term Advance Final Order"). The Term
Advance Final Order (i) shall have been entered upon an application or motion of
the Obligors satisfactory in form and substance to the Lender in its sole
discretion, (ii) shall have authorized extensions of credit by the Lender in the
amount of a total of $1,500,000, (iii) shall approve the payment by the Obligors
of all of the fees and expenses set forth herein, and (iv) shall be in full
force and effect and shall not have been vacated, reversed, modified, amended or
stayed or the subject of a stay pending appeal.

                        (iii) A Term Advance, once repaid, may not be
reborrowed.

                        (iv)  The Lender shall have no obligation to make any
further Term Advances to the Borrower if an Even of Default (other than an Event
of Default waived in this Amendment) has occurred and, as a result of such Event
of Default, the Lender has ceased making Advances to Borrower under the Loan
Agreement.

            2.    EXTENSION OF MATURITY DATE. The Borrower shall continue to
make all payments of principal and interest required by the Loan Agreement with
respect to the outstanding Advances, including the Term Advance, provided,
however, that the Advances shall be due and payable in full on the earlier of
the date of the closing of the purchase and sale of the Ocala Real Property and
Ocala Personal Property, or February 28, 2005. The failure of the Borrower to
indefeasibly pay the Advances in full and in cash on or before February 28, 2005
shall constitute an Event of Default. The definition of "Maturity Date" set
forth in Section 1.1 of the Loan Agreement is hereby amended as follows:

            "Maturity Date" means the earlier of the date of the closing of the
      purchase and sale of the Ocala Real Property and Ocala Personal Property,
      or February 28, 2005.

            3.    AMENDMENT TO SECTION 1.1 OF THE LOAN AGREEMENT. The definition
of "Default Rate" set forth in Section 1.1 of the Loan Agreement is hereby
amended as follows:

            "Default Rate" means an annual interest rate equal to eighteen
      percent (18%) on the outstanding principal balance of the Note.

            4.    AMENDMENT TO SECTION 1.1 OF THE LOAN AGREEMENT. The definition
of "Obligations" set forth in Section 1.1 of the Loan Agreement is hereby
amended as follows:

            "Obligations" means the Note, the Term Advance Note, the Obligation
      of Reimbursement and each and every other debt, liability and obligation
      of every type and description which any Obligor may now or at any time
      hereafter owe to the Lender which

                                       2
<PAGE>

      arises under this Agreement, any other Loan Document, the Orders or any
      other document or order now or hereafter made, issued, delivered or given
      in connection herewith or therewith, and whether it is direct or indirect,
      due or to become due, absolute or contingent, primary or secondary,
      liquidated or unliquidated, or sole, joint, several or joint and several.

            5.    AMENDMENT TO SECTION 2.10(B) OF THE LOAN AGREEMENT. Section
2.10(b) of the Loan Agreement is hereby deleted in its entirety.

            6.    AMENDMENT TO SECTION 2.3 OF THE LOAN AGREEMENT. Section 2.3 of
the Loan Agreement is hereby amended as follows:

      SALE MILESTONES. The Borrowing Base shall include the Minimum Liquidity
Reserve until each of the following conditions is satisfied as determined by the
Lender in its sale discretion (collectively, the "Sale Milestones"):

                  (a)   Asset Purchase Agreement. The Obligors shall have
delivered to the Lender an Asset Purchase Agreement (the "Asset Purchase
Agreement") executed by Borrower and the purchaser party thereto by February 1,
2005 for the sale of the Ocala Real Property and the Ocala Personal Property for
a cash purchase price of at least $3,000,000.00 in form and content acceptable
to the Lender and contingent upon, among other things, an order of the
Bankruptcy Court approving the consummation of the sale pursuant to Section 363
of the Bankruptcy Code of the Ocala Real Property and the Ocala Personal
Property to such purchaser on the terms set forth in such Asset Purchase
Agreement. The closing of the purchase and sale of the Ocala Real Property and
Ocala Personal Property shall occur on or before February 28, 2005.

                  (b)   Purchaser's Financing. The Obligors shall have
established that the purchaser party to the Asset Purchase Agreement has the
financial ability to pay the stated purchase price for the Ocala Real Property
and the Ocala Personal Property by providing to the Lender financial statements,
loan commitments or such other documentation as the Lender shall request.

                  (c)   Sale Motion. The Obligors shall have filed in the
Bankruptcy Cases a motion (the "Sale Motion") to sell the Ocala Real Property
and the Ocala Personal Property to the purchaser party to the Asset Purchase
Agreement (or to such higher and better bidder as the Bankruptcy Court shall
determine) pursuant to Section 363(f) of the Bankruptcy Code and in accordance
with the Asset Purchase Agreement. The Sale Motion shall be inform and substance
satisfactory to the Lender. An order of the Bankruptcy Court approving the
consummation of the sale pursuant to Section 363 of the Bankruptcy Code of the
Ocala Real Property and the Ocala Personal Property to such purchaser on the
terms set forth in such Asset Purchase Agreement shall have been entered on or
before February 15, 2005.

                  (d)   Bidding Procedures Motion. The Obligors shall have filed
in the Bankruptcy Cases, a motion (the "Bidding Procedures Motion") to establish
bidding procedures relating to the Sale described in the Sale Motion and shall
seek an expedited hearing on the

                                       3
<PAGE>

Building Procedures Motion. The Bidding Procedures Motion on same shall be in
form and content satisfactory to the Lender.

            Notwithstanding anything to the contrary in this Agreement, the
      Lender shall have no obligation to make Advances which cause the
      outstanding balance of the Credit Facility to be more than $1,500,000
      unless all of the Sale Milestones have been satisfied, as determined by
      the Lender in its sole discretion.

            7.    AMENDMENT FEE. In consideration for the accommodations granted
by the Lender herein and in addition to all other fees and costs, the Borrower
hereby agrees to pay to the Lender a nonrefundable fee of Thirty-Five Thousand
($35,000.00) (the "Amendment Fee"). The Amendment Fee shall be due and payable
in full on the date which the Term Advance Final Order is final and
non-appealable. The Borrower hereby confirms that the Amendment Fee will be
fully earned by the Lender on said date and is nonrefundable.

            8.    RELEASE AND WAIVER OF CLAIMS BY THE BORROWER. For good and
valuable consideration, the receipt of which is hereby acknowledged and in
consideration of the Lender executing this Amendment, the Borrower does hereby
release the Lender and its managers, members, employees, attorneys and agents
from any and all claims, demands, causes of action, now known or unknown,
arising out of or related to the Loan Agreement or the transactions connected
therewith. The Borrower does hereby warrant and represent that no claims,
demands or causes of action, arising out of or related to the Loan Agreement or
the transactions connected therewith are now known or suspected to exist.

      The Borrower intends this release to cover, encompass, release, and
extinguish, among other things, all claims and matters which might otherwise be
reversed by California Civil Code section 1542, which provides as follows:

      "A general release does not extend to claims which the creditor does not
      know or suspect to exist in his favor at the time of executing the
      release, which if known by him must have materially affected his
      settlement with the debtor."

            9.    CONDITIONS PRECEDENT. The obligations of the Lender hereunder
shall take effect only upon the satisfaction of the following conditions:

                  (a)   Receipt by the Lender of a fully executed original of
this Amendment;

                  (b)   Receipt by the Lender of the Term Advance Final Order in
accordance with Section 1 hereof;

                  (c)   Receipt by the Lender of all interest payable pursuant
to Section 2.10 of the Loan Agreement as of the date of the Term Advance Final
Order;

                  (d)   Receipt by the Lender of all costs and expenses,
including reasonable attorneys' fees, incurred by the Lender in accordance with
Section 9.6 of the Loan Agreement as of the date of the Term Advance Final
Order;

                                       4
<PAGE>

                  (e)   Other than the defaults under Section 2.3 of the Loan
Agreement and the default in payment of the Obligations in full on December 2,
2004, no Defaults or Events of Default shall have occurred or be continuing; and

                  (f)   The Lender shall have received such other documents,
certificates, opinions and information that the Lender shall require, each in
form and substance satisfactory to the Lender in its sole discretion.

            10.   MISCELLANEOUS.

                  (a)   Reference to the Loan Agreement and the Loan Documents.

                        (i)   Except as specifically amended by this Amendment,
the Loan Agreement and the other Loan Documents shall remain in full force and
effect in accordance with their respective terms and are hereby ratified and
confirmed.

                        (ii)  The Borrower hereby warrants and represents to the
Lender that there does not exist a Default or an Event of Default other than the
defaults under Section 2.3 of the Loan Agreement and the default in payment of
the Obligations in full on December 2, 2004 and the Borrower reaffirms, as of
the date hereof, that all of the warranties and representations of the Borrower
contained in the Loan Agreement and in the other Loan Documents are true,
complete and correct.

                  (b)   Events of Default. Any failure to comply with the terms
and conditions of this Amendment shall constitute an Event of Default.

                  (c)   Counterparts. This Amendment may be executed in one or
more counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

                  (d)   Governing Law. This Amendment shall be governed by and
construed according to the laws of the State of Florida.

                  (e)   Attorneys' Fees. The Borrower shall pay, on written
demand, all fees and costs incurred by the Lender in connection with the
negotiation, documentation and execution of this Amendment, including the
reasonable fees and expenses of attorneys. If any legal action or proceeding
shall be commenced at any time by any party to this Amendment in connection with
its interpretation or enforcement, the prevailing party or parties in such
action or proceeding shall be entitled to reimbursement of its reasonable
attorneys' fees and costs in connection therewith, in addition to all other
relief to which the prevailing party or parties may be entitled.

                  (f)   Jury Trial Waiver. EACH OF THE PARTIES HERETO WAIVES ITS
RIGHT TO A TRIAL BY JURY, IF ANY, IN ANY ACTION TO ENFORCE, DEFEND, INTERPRET OR
OTHERWISE CONCERNING THIS AMENDMENT.

                  [Remainder of Page Intentionally Left Blank]

                                       5
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment
as of the date first written above.

                                               Borrower:

                                               U.S. PLASTIC LUMBER LTD., a
                                               Delaware corporation, as
                                               debtor and debtor in
                                               possession

                                               By /s/ Daniel R. Smith
                                                  -----------------------------
                                                  Daniel R. Smith
                                                  Its: Assistant Treasurer

                                               Lender:

                                               AMPAC CAPITAL SOLUTIONS, LLC, a
                                               Nevada limited liability company

                                               By: /s/ Larry R. Polhill
                                                  -----------------------------
                                                   Larry R. Polhill
                                                   Its: Manager

                                       6
<PAGE>

      Each of the undersigned hereby consents to and acknowledges the terms and
conditions of the foregoing Amendment and each other document executed in favor
of the Lender shall remain in full force and effect.

                                               Guarantors:
                                               U.S. PLASTIC LUMBER CORP., a
                                               Nevada corporation, as
                                               debtor and debtor in possession

                                               By: /s/ Daniel R. Smith
                                                   -----------------------------
                                                   Daniel R. Smith
                                                   Its: Vice President

                                               U.S. PLASTIC LUMBER FINANCE
                                               CORPORATION, a Delaware
                                               corporation, as debtor and
                                               debtor in possession

                                               By: /s/Daniel R. Smith
                                                   -----------------------------
                                                   Daniel R. Smith
                                                   Its: Vice President

                                               U.S. PLASTIC LUMBER IP
                                               CORPORATION, a Delaware
                                               corporation, as debtor and
                                               debtor in possession

                                               By: /s/ Daniel R. Smith
                                                   -----------------------------
                                                   Daniel R. Smith
                                                   Its: Vice President

                                               THE EAGLEBROOK GROUP, INC., a
                                               Delaware corporation, as debtor
                                               and debtor in possession

                                               By: /s/ Daniel R. Smith
                                                   -----------------------------
                                                   Daniel R. Smith
                                                   Its: Vice President

                                        7<PAGE>

                                                                    Exhibit 10.3

                SECOND AMENDMENT TO CREDIT AND SECURITY AGREEMENT

      THIS SECOND AMENDMENT TO CREDIT AND SECURITY AGREEMENT (this "Amendment")
is entered into as of March 18, 2005, by and between AMPAC CAPITAL SOLUTIONS,
LLC, a Nevada limited liability company ("Lender"), and U.S. PLASTIC LUMBER
LTD., a Delaware corporation as debtor and debtor in possession (the
"Borrower"), with respect to the following:

      A.    The Lender and the Borrower have entered into that certain Credit
and Security Agreement dated as of September 7, 2004 (as amended, restated,
modified and supplemented from time to time, including by that certain First
Amendment to Credit and Security Agreement dated December 21, 2004, the "Loan
Agreement"). Capitalized terms used but not defined in this Amendment shall have
the meanings given to them in the Loan Agreement.

      B.    The outstanding principal balance of the Note as of the date hereof
is $1,000,000. The outstanding principal balance of the Term Advance as of the
date hereof is $500,000.

      C.    The Borrower has requested that the Lender agree to loan an
additional $1,200,000 to the Borrower and the Lender has agreed to amend the
Loan Agreement on the terms and conditions set forth herein.

      D.    The Borrower has also requested that the Lender agree to extend the
maturity date for the Advances from February 28, 2005 to June 15, 2005 and the
Lender has agreed to amend the Loan Agreement on the terms and conditions set
forth herein.

      NOW, THEREFORE, in consideration of the foregoing and the terms and
conditions hereof, the parties hereto do hereby agree that the foregoing
recitals are incorporated herein by this reference and as follows:

            1.    AMENDMENT TO SECTION 1.1 OF THE LOAN AGREEMENT/SECOND
AMENDMENT FINAL ORDER. The definition of "Maximum Line" set forth in Section 1.1
of the Loan Agreement is hereby amended as follows:

            "Maximum Line" means $2,200,000.00.

            The Borrower may request an Advance pursuant to Section 2.2(a) of
the Loan Agreement beginning on the dated upon which the Lender receives a
signed copy of the a final, non-appealable order of the Bankruptcy Court
approving this Amendment (with such modifications as are approved by the Lender
in its sole discretion) (the "2nd Amendment Final Order"). The 2nd Amendment
Final Order (i) shall have been entered upon an application or motion of the
Borrower satisfactory in form and substance to the Lender in its sole
discretion, (ii) shall have authorized extensions of credit by the Lender in the
amount of a total of $2,700,000, (iii) shall approve the payment by the Borrower
of all of the fees and expenses set forth herein, and (iv) shall be in full
force and effect and shall not have been vacated, reversed, modified, amended or
stayed or subject of a stay pending appeal.

<PAGE>

            2.    EXTENSION OF MATURITY DATE/AMENDMENT TO SECTION 1.1 OF THE
LOAN AGREEMENT. The Borrower shall continue to make all payments of principal
and interest required by the Loan Agreement with respect to the outstanding
Advances, including the Term Advances, provided, however, that the Advances
shall be due and payable in full on June 15, 2005. The failure of the Borrower
to indefeasibly pay the Advances in full and in cash on or before June 15, 2005
shall constitute and Event of Default. The definition of "Maturity Date" set
forth in Section 1.1 of the Loan Agreement is hereby amended as follows:

            "Maturity Date" means June 15, 2005."

            3.    AMENDMENT TO SECTION 1.1 OF THE LOAN AGREEMENT. The
definitions of "Asset Purchase Agreement", "Ocala Real Property", "Ocala
Personal Property", "Sale", "Sale Milestones", and "Sale Motion", set forth in
Section 1.1 of the Loan Agreement are hereby deleted.

            4.    AMENDMENT TO SECTION 1.1 OF THE LOAN AGREEMENT. The definition
of "Availability" set forth in Section 1.1 of the Loan Agreement is hereby
amended as follows:

            "Availability" means, as of any date, the sum of (A) the outstanding
      principal balance of the Note and (b) the L/C Amount."

            5.    AMENDMENT TO SECTION 1.1 OF THE LOAN AGREEMENT. The definition
of "Mortgages" set forth in Section 1.1 of the Loan Agreement is hereby amended
as follows:

            "Mortgages" means (i) that certain Leasehold Mortgage, Security
            Agreement, Financing Statement and Absolute Assignment of Rents and
            Revenues of even date herewith executed by the Borrower in favor of
            the Lender, to be recorded in Cook County, Illinois; and (ii) any
            other mortgage, deed of trust, deed to secure debt, or similar
            instrument or agreement pursuant to which any Obligor grants in
            favor of the Lender a security interest in and lien upon any fee or
            leasehold interest in real property owned by such Obligor."

            6.    AMENDMENT TO SECTION 2.3 OF THE LOAN AGREEMENT. Section 2.3 of
the Loan Agreement is hereby deleted in its entirety.

            7.    AMENDMENT TO SECTION 2.15 OF THE LOAN AGREEMENT. Section 2.15
of the Loan Agreement is hereby amended as follows:

            "Mandatory Prepayment. Without notice or demand, if the sum of the
            outstanding principal balance of the Advances plus the L/C Amount
            shall at any time exceed the Maximum Line, the Borrower shall (i)
            first, immediately prepay the Advances to the extent necessary to
            eliminate such excess; and (ii) if prepayment in full of the
            Advances is insufficient to eliminate such excess, pay to the Lender
            in immediately available funds for deposit in the Special Account an
            amount equal to the remaining excess. Any payment received by Lender
            under this Section 2.15 or under Section 2.14 may be applied to the
            Obligations,

                                        2
<PAGE>

            in such order and in such amounts as the Lender, in its discretion,
            may from time to time determine.

            8.    AMENDMENT TO SECTION 6.18 OF THE LOAN AGREEMENT. Section 6.18
of the Loan Agreement is hereby amended as follows:

            "Sale or Transfer of Assets: Suspension of Business Operations.
            Except as otherwise set forth herein, no Obligor will sell, lease,
            assign, transfer or otherwise dispose of (i) the stock of any
            Subsidiary, (ii) all or a substantial part of its assets, or (iii)
            any Collateral or any interest therein (whether in one transaction
            or in a series of transactions) to any other Person other than the
            sale of Inventory in the ordinary course of business, and will not
            liquidate, dissolve or suspend business operations. No Obligor will
            transfer any part of its ownership interest in any Intellectual
            Property Rights and will not permit any agreement under which it has
            licensed Licensed Intellectual Property to lapse, except that any
            Obligor may transfer such rights or permit such agreements to lapse
            if it shall have reasonably determined that the applicable
            Intellectual Property Rights are no longer useful in its business.
            If any Obligor transfers any Intellectual Property Rights for value,
            such Obligor will pay over the proceeds to the Lender for
            application to the Obligations. No Obligor will license any other
            Person to use any of its Intellectual Property Rights, except that
            any Obligor may grant licenses in the ordinary course of its
            business in connection with sales of Inventory or provision of
            services to its customers.

            9.    AMENDMENT TO SECTION 6.25 OF THE LOAN AGREEMENT. Section 6.25
of the Loan Agreement is hereby amended as follows:

            "Place of Business: Name. No Obligor will transfer its chief
            executive office or principal place of business, or move, relocate,
            close or sell any business location. The Obligors will not permit
            any tangible Collateral or any records pertaining to the Collateral
            to be located in any state or area in which, in the event of such
            location, a financing statement covering such Collateral would be
            required to be, but has not inflict been, filed in order to perfect
            the Security Interest. No Obligor will change its name or
            jurisdiction of organization."

            10.   AMENDMENT TO SECTION 7.1 OF THE LOAN AGREEMENT. Section 7.1(f)
of the Loan Agreement is hereby deleted in its entirety.

            11.   AMENDMENT FEE. In consideration for the accommodations granted
by the Lender herein and in addition to all other fees and costs due under the
Loan Agreement, the Borrower hereby agrees to pay to the Lender a nonrefundable
fee of Thirty-Six Thousand Dollars ($36,000.00) (the "Amendment Fee"). The
Amendment Fee shall be due and payable in full on the date which the 2nd
Amendment Final Order is final and non-appealable. The Borrower

                                       3
<PAGE>

hereby confirms that the Amendment Fee will be fully earned by the Lender on
said date and is nonrefundable.

            12.   RELEASE AND WAIVER OF CLAIMS BY THE OBLIGORS. For good and
valuable consideration, the receipt of which is hereby acknowledged and in
consideration of the Lender executing this Amendment, the Obligors do hereby
release the Lender and its managers, members, employees, attorneys and agents
from any and all claims, demands, causes of action, now known or unknown,
arising out of or related to the Loan Agreement or the transactions connected
therewith. The Obligors do hereby warrant and represent that no claims, demands
or causes of action, arising out of or related to the Loan Agreement or the
transactions connected therewith are now known or suspected to exist.

            The Obligors intend this release to cover, encompass, release, and
extinguish, among other things, all claims and matters which might otherwise be
reserved by California Civil Code section 1542, which provides as follows:

            "A general release does not extend to claims which the creditor does
      not know or suspect to exist in his favor at the time of executing the
      release, which if known by him must have materially affected his
      settlement with the debtor."

            13.   CONDITIONS PRECEDENT. The obligations of the Lender hereunder
shall take effect only upon the satisfaction of the following conditions:

            (a)   Receipt by the Lender of a fully executed original of this
      Amendment and that certain First Amended and Restated Promissory Note in
      the form of Exhibit "A" hereto;

            (b)   Receipt by the Lender of the 2nd Amendment Final Order in
      accordance with Section 1 hereof;

            (c)   Receipt by the Lender of all interest payable pursuant to
      Section 2.10 of the Loan Agreement and on the Term Advance as of the date
      of the 2nd Amendment Final Order;

            (d)   Receipt by the Lender of all costs and expenses, including
      reasonable attorneys' fees, incurred by the Lender in accordance with
      Section 9.6 of the Loan Agreement as of the date of the 2nd Amendment
      Final Order;

            (e)   Other than the default in payment of the Obligations in full
      on February 28, 2005, no Defaults or Events of Default shall have occurred
      or be continuing; and

            (f)   The Lender shall have received such other documents,
      certificates, opinions and information that the Lender shall require, each
      in form and substance satisfactory to the Lender in its sole discretion.

            14.   MISCELLANEOUS.

            (a)   Reference to the Loan Agreement and the Loan Documents.

                                       4
<PAGE>

                  (i)   Except as specifically amended by this Amendment, the
            Loan Agreement and the other Loan Documents shall remain in full
            force and effect in accordance with their respective terms and are
            hereby ratified and confirmed.

                  (ii)  The Obligors hereby warrants and represents to the
            Lender that there does not exist a Default or an Event of Default
            other than the default in payment of the Obligations in full on
            February 28, 2005 and the Borrower reaffirms, as of the date hereof,
            that all of the warranties and representations of the Borrower
            contained in the Loan Agreement and in the other Loan Documents are
            true, complete and correct.

            (b)   Events of Default. Any failure to comply with the terms and
      conditions of this Amendment shall constitute an Event of Default.

            (c)   Counterparts. This Amendment may be executed in one or more
      counterparts, each of which shall be deemed an original but all of which
      together shall constitute one and the same instrument.

            (d)   Governing Law. This Amendment shall be governed by and
      construed according to the laws of the State of Florida.

            (e)   Attorneys' Fees. The Borrower shall pay, on written demand,
      all fees and costs incurred by the Lender in connection with the
      negotiation, documentation and execution of this Amendment including the
      reasonable fees and expenses of attorneys. If any legal action or
      proceeding shall be commenced at any time by any party to this Amendment
      in connection with its interpretation or enforcement, the prevailing party
      or parties in such action or proceeding shall be entitled to reimbursement
      of its reasonable attorneys' fees and costs in connection therewith, in
      addition to all other relief to which the prevailing party or parties may
      be entitled.

            (f)   Jury Trial Waiver. EACH OF THE PARTIES HERETO WAIVES ITS RIGHT
      TO A TRIAL BY JURY, IF ANY, IN ANY ACTION TO ENFORCE, DEFEND, INTERPRET OR
      OTHERWISE CONCERNING THIS AMENDMENT.

                  [Remainder of Page Intentionally Left Blank]

                                       5
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment
as of the date first written above.

                                            Borrower:

                                            U.S. PLASTIC LUMBER LTD., a Delaware
                                            corporation, as debtor and debtor
                                            in possession

                                            By: /s/ Steve Spitzer
                                                --------------------------------

                                            Its: Assistant Treasurer

                                            Lender:

                                            AMPAC CAPITAL SOLUTIONS, LLC, a
                                            Nevada limited liability company

                                            By: /s/ Larry R. Polhill
                                                --------------------------------

                                            Its: Manager

                                       6
<PAGE>

      Each of the undersigned hereby consents to and acknowledges the terms and
conditions of the foregoing Amendment and each other document executed in favor
of the Lender shall remain in full force and effect.

                                            Guarantors:

                                            U.S. PLASTIC LUMBER CORP., a Nevada
                                            corporation, as debtor and debtor
                                            in possession

                                            By: /s/ Steven Spitzer
                                                --------------------------------

                                            Its: Assistant Treasurer

                                            U.S. PLASTIC LUMBER FINANCE
                                            CORPORATION, a Delaware corporation,
                                            as debtor and debtor in possession

                                            By: /s/ Steven Spitzer
                                                --------------------------------

                                            Its: Assistant Treasurer

                                            U.S. PLASTIC LUMBER IP CORPORATION,
                                            a Delaware corporation, as debtor
                                            and debtor in possession

                                            By: /s/ Steven Spitzer
                                                --------------------------------

                                            Its: Assistant Treasurer

                                            THE EAGLEBROOK GROUP, INC., a
                                            Delaware corporation, as debtor and
                                            debtor in possession

                                            By: /s/ Steven Spitzer
                                                --------------------------------

                                            Its: Assistant Treasurer

                                       7

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