Document:

<PAGE>
                                                                   Exhibit 10.21

                                 FIRST AMENDMENT
                                       TO
                           LOAN AND SECURITY AGREEMENT

      THIS FIRST AMENDMENT (this "Amendment") is made this September 19, 2001 by
and between GOLDEN EAGLE LEASING, INC., an Arizona corporation ("Borrower"), and
WEBSTER BANK, a federally chartered savings bank ("Lender").

                                   Background

      A. Lender has extended a revolving credit loan in the maximum amount of
$10,000,000 (the "Loan") to Borrower pursuant to the terms of the Loan and
Security Agreement dated August 24, 2001 (the "Loan Agreement").

      B. The Revolving Credit Loan is evidenced by the revolving credit note
dated August 24, 2001 in the original principal amount of $10,000,000 (the
"Note"). The indebtedness of the Note is secured by Borrower's grant to Lender
of a security interest in the Collateral, as such term is defined in the Loan
Agreement.

      C. The Loan has been guarantied by Hypercom Corporation, the Borrower's
parent corporation, pursuant to that certain guaranty dated as of August 24,
2001 (the "Guaranty" and together with the Loan Agreement, the Note, and all
other documents relating thereto, the "Loan Documents").

      D. Borrower has requested that Lender modify the terms of the Loan
Documents to provide for the release of Lender's security interest in certain
Collateral under certain circumstances.

      E. Lender has agreed to Borrower's request, subject to the terms and
conditions contained in this Amendment.

                                    Agreement

      In consideration of the Background, which is incorporated by this
reference, other good and valuable consideration, the receipt and sufficiency of
which is acknowledged, and the mutual promises and covenants contained in this
Amendment, the parties, intending to be bound legally, agree as follows:

      1. Definitions. Capitalized terms not otherwise defined herein shall have
the meanings ascribed to them in the Loan Agreement.

      2. Amendment of Definition of Eligible Lease Receivables. Section 1.(ai)
of the Loan Agreement is amended to read as follows:

<PAGE>

      "Eligible Lease Receivables" shall mean at the time of calculation or
determination, any bona fide Lease Receivables in which the Lender has a first
priority perfected security interest and assignment, and which arise from or in
connection with any bona fide Lease in which the Lender has a first priority
perfected security interest and assignment, and which Lease Receivables and/or
Leases, as the case may be, satisfy all of the following requirements:

         (i)      It is owing to Borrower and is subject to a validly perfected
                  security interest and assignment in favor of Lender having
                  priority over any other liens or encumbrances thereon;

         (ii)     It is a valid, legally enforceable obligation of the Account
                  Debtor thereunder and is not and may not become subject to any
                  offset, counterclaim or, in the opinion of Lender,
                  counterclaims, claims or other defense on the part of such
                  Account Debtor or to any claim on the part of such Account
                  Debtor denying liability thereunder;

         (iii)    It is subject to no Liens whatsoever, except for the security
                  interest or assignment of Lender hereunder (except for any
                  applicable rights of the lessee under such Lease);

         (iv)     The Leased Equipment regarding the Leases is subject to no
                  Liens whatsoever, except for the security interest or
                  assignment of Lender hereunder (and except for any applicable
                  rights of the lessee under such Lease), and the Borrower has
                  good and merchantable title to all of such Leased Equipment;

         (v)      It has (or any payment thereunder) not remained unpaid for a
                  period exceeding sixty (60) days from the date of the invoice
                  and/or any payment due date and the first scheduled payment is
                  due within thirty (30) days of the date of the Lease;

         (vi)     It does not arise out of transactions with any Account Debtor
                  located outside the United States of America or any
                  Governmental Authority;

         (vii)    Each Lease shall have an aggregate Gross Lease Receivable of
                  no more than $100,000.00;

         (viii)   The applicable Code Financing Statements in favor of the
                  Lender and/or the Borrower, as the case may be, regarding the
                  Leases, the Gross Lease Receivables and/or the Leased
                  Equipment under the applicable Lease are duly filed and record
                  in all appropriate offices and/or records;

         (ix)     Borrower is the sole and absolute owner of all the applicable
                  Leases, Gross Lease Receivables and Leased Equipment (subject
                  only to the Liens of the Lender hereunder);

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<PAGE>

         (x)      The applicable Leased Equipment under each Lease shall have
                  been delivered and/or installed, shall be in good working
                  order and shall have been fully and duly accepted by the
                  lessee under the applicable Lease;

         (xi)     It has been newly originated by the Borrower and is not part
                  of a rewritten Lease;

         (xii)    It shall be duly and fully insured under such liability and
                  hazard insurance policies as the Lender may require in its
                  sole discretion, which policies shall be in such amounts, with
                  insurance carriers and on terms and conditions acceptable to
                  the Lender in its sole discretion, including, without
                  limitation, insuring the interest of the Borrower and its
                  successors and assigns and upon the Lender's request or
                  demand, naming the Lender as loss-payee and/or additional
                  inured, as appropriate;

         (xiii)   It shall be, or arise from, a commercial transaction only;

         (xiv)    Each of the Leases and any documentation relating thereto
                  shall be marked, and contain a legend, that the executed
                  counterpart marked "original" of the Lease and any
                  documentation related thereto is the original of the Lease and
                  all other counterparts are duplicates and to the extent, if
                  any, that the Lease and any documentation related thereto
                  constitutes Chattel Paper no security interest in the Lease
                  and documentation related thereto may be created through the
                  transfer or possession of any counterpart other than the
                  counterpart marked "Original";

         (xv)     Each Lease shall comply with all of the Borrower's credit
                  standards, policies and procedures, including, without
                  limitation, all risk acceptance criteria, which have been
                  previously submitted to, and approved by, the Lender prior to
                  the date of this Agreement;

         (xvi)    It does not arise out of any Lease regarding used or residual
                  equipment which has been returned or delivered to the Borrower
                  for any reason whatsoever or has been repossessed by the
                  Borrower;

         (xvii)   It shall not arise out of any restructured or rewritten Leases
                  or any Lease in default;

         (xviii)  It shall not be due from an Account Debtor which is affiliated
                  in any way whatsoever with any other Account Debtor with past
                  due payments of more than sixty (60) days;

         (xix)    Each Lease shall be in form and substance satisfactory in all
                  respects to the Lender, and shall contain, among other things,
                  "waiver-of-defense", "consent to assignment" and "consent to
                  security interest" provisions, and

                                      -3-
<PAGE>

                  any similar or like provisions, in favor of an assignee or a
                  lender, as the case may be;

         (xx)     It shall be in full compliance with all laws, statutes, rules,
                  ordinances or governmental regulations of any kind whatsoever
                  including, without limitation, any broker, truth-in-lending or
                  leases or banking laws, rules or regulations;

         (xxi)    It shall be assigned to the Lender by the Borrower pursuant to
                  a duly executed collateral assignment which collateral
                  assignment shall be in form and substance acceptable to the
                  Lender in its sole discretion;

         (xxii)   That no power of attorney is used in connection with the
                  applicable Lease Receivable and/or Lease;

         (xxiii)  A notice of assignment letter regarding the Lease Receivables,
                  the Lease and the Leased Equipment in connection with any
                  Lease having aggregate Gross Lease Receivable of $50,000.00 or
                  more (or such lesser amount as lender, in its sole discretion,
                  may hereafter designate) shall be duly executed by the Account
                  Debtor, which notice of assignment letter shall be in form and
                  substance satisfactory in all respects to the Lender;

         (xxiv)   It does not arise out of transactions with any creditor of the
                  Borrower or any Guarantor or any employee, officer, partner,
                  Affiliate or Subsidiary of the Borrower and/or or any
                  Guarantor;

         (xxv)    The original Leases, schedules, acceptance certificates,
                  riders, supplements, purchase options, exhibits, addendum, and
                  any and all other documents or instruments executed and/or
                  delivered in connection with, the Leases (including, without
                  limitation, any guarantees or undertakings of any kind
                  whatsoever of the same), shall have been delivered to the
                  Lender or, if acceptable to the Lender (in its sole
                  discretion), to the Trustee, on the Lender's behalf pursuant
                  to the terms of this Agreement and/or the Trust Agreement, or
                  any of the same which the Lender does not require to be
                  delivered to it or to the Trustee shall be held by the
                  Borrower in trust as trustee of an express trust for the
                  Lender shall be promptly delivered to the Lender upon the
                  Lender's request or demand for the same; and

         (xxvi)   That any and all documents and/or instruments that the Lender
                  shall request in connection with each such applicable Lease
                  Receivable and/or Lease and/or Leased Equipment shall be
                  promptly executed and/or delivered to the Lender or, if
                  acceptable to the Lender (in its sole discretion), to the
                  Trustee, on the Lender's behalf pursuant to the terms of this
                  Agreement and/or the Trust Agreement, upon the Lender's
                  request for the same.

                                      -4-
<PAGE>

                  In the event of any dispute as to whether a Lease Receivable
                  is or has ceased to be an Eligible Lease Receivable, the
                  decision of the Lender shall control in its sole discretion.
                  Any Eligible Lease Receivable which the Lender subsequently
                  determines to be no longer eligible or acceptable hereunder at
                  any time shall nevertheless be and remain at all times part of
                  the Collateral except as otherwise provided in Section 7.5
                  hereof.

         3. Release of Ineligible Lease Receivables. The following shall be
added as Section 7.5:

                  7.5 Release of Ineligible Lease Receivables Once per calendar
                  month, Borrower may request the release of the Lender's
                  security interest in those Eligible Lease Receivables which no
                  longer meet the qualifications of an Eligible Lease Receivable
                  and are no longer listed in any Lease Certificate or Borrowing
                  Base Certificate upon which a Revolving Credit Advance has
                  been based (an "Ineligible Lease Receivable"). Upon receipt of
                  such request, and provided that (i) the then outstanding
                  balance of the Loan does not exceed the Borrowing
                  Availability, and (ii) no Defaults shall have occurred not
                  cured within the applicable cure period if any, or waived by
                  Lender, Lender shall agree to release its security interest in
                  such Ineligible Lease Receivable by notifying Custodian of its
                  approval of the Borrower's request. Any Ineligible Lease
                  Receivable for which release is requested, but not approved by
                  Lender shall remain part of the Collateral.

         4. Representations and Warranties. All of the representations,
warranties and covenants contained in the Loan Documents are true and correct on
and as of the date hereof.

         5. Conditions Precedent. Lender's obligations hereunder are subject to
the satisfaction as of the date of this Amendment of each of the following
conditions precedent which shall be in form, scope and substance satisfactory to
Lender and its counsel:

            (a) Evidence of Corporate Action. Lender shall have received
certified copies of all Board of Director resolutions (in form and substance
satisfactory to Lender) made by Borrower to authorize the execution, delivery
and performance of this Amendment, together with copies of all amendments to
Borrower's Articles of Incorporation and By-Laws adopted since August 24, 2001,
and such other papers as Lender or its counsel may reasonably require.

            (b) Guarantor's Documents. Lender shall have received a
Reaffirmation of Guaranty, duly executed by the Guarantor, in form and substance
satisfactory to Lender and its counsel.

            (c) Legal Fees. Borrower shall have reimbursed Lender for the legal
fees and disbursements of Shipman & Goodwin LLP, counsel to Lender, in
connection with the negotiation, review, execution and delivery of all of the
documents prepared with respect to the transactions contemplated herein, plus
related disbursements.

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<PAGE>

            (d) Other Documents. Borrower shall have delivered to Lender such
other documents as Lender or its counsel reasonably require.

         5. Reaffirmation of the Obligations. The Borrower acknowledges and
reaffirms the Obligations, the Borrower's liability for repayment thereof and
all previous grants of collateral by the Borrower to secure the Obligations. The
Borrower acknowledges that no setoff, counterclaim or defense exists with
respect to the Borrower's liability under the Obligations and that no claim
against the Lender exists, and waives its right to raise any such setoff,
counterclaim, defense or claim against the Lender arising out of occurrences on
or prior to the date hereof.

         6. Loan Documents. Except to the extent explicitly modified by this
Amendment or by any document contemplated by, or executed pursuant to the
provisions of this Amendment, all of the provisions of the Loan Documents shall
remain in full force and effect, including, without limitation, all
representations, warranties, negative covenants, affirmative covenants, and
events of default. In addition, as of the date hereof, the Borrower represents
that the Borrower is in full compliance with all provisions of the Loan
Document, and no Event of Default, as specified in the Loan Documents, and no
event which, with the giving of notice or passage of time or both, would
constitute an Event of Default, has occurred. Any default under any of the Loan
Documents shall constitute a default hereunder.

         7. Other.

            (a) Prejudgement Remedy Waiver. THE BORROWER ACKNOWLEDGES THAT THE
TRANSACTIONS TO WHICH THIS AMENDMENT RELATE ARE COMMERCIAL TRANSACTIONS. THE
BORROWER HEREBY VOLUNTARILY AND KNOWINGLY WAIVES ITS RIGHTS TO NOTICE AND
HEARING UNDER CHAPTER 903A OF THE CONNECTICUT GENERAL STATUTES, AS AMENDED AND
IN EFFECT ON THE DATE HEREOF, OR AS OTHERWISE ALLOWED BY ANY STATE OR FEDERAL
LAW WITH RESPECT TO ANY PREJUDGMENT REMEDY OR OTHER RIGHT OR REMEDY THAT THE
LENDER MAY ELECT TO USE OR OF WHICH IT MAY AVAIL ITSELF. THE BORROWER FURTHER
WAIVES, TO THE GREATEST EXTENT PERMITTED BY LAW, THE BENEFITS OF ALL PRESENT AND
FUTURE VALUATION, APPRAISEMENT, EXEMPTION, STAY, REDEMPTION AND MORATORIUM LAWS.
THE BORROWER FURTHER WAIVES ANY REQUIREMENT THAT LENDER OBTAIN A BOND OR OTHER
SIMILAR DEVICE IN CONNECTION WITH THE EXERCISE OF ANY REMEDY OR THE ENFORCEMENT
OF ANY RIGHT HEREUNDER.

            (b) Governing Law. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN ANY OF
THE LOAN DOCUMENTS, IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION,
VALIDITY AND PERFORMANCE, THE LOAN DOCUMENTS AND THE OBLIGATIONS ARISING UNDER
THE LOAN DOCUMENTS SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF CONNECTICUT APPLICABLE TO CONTRACTS
MADE AND

                                      -6-
<PAGE>

PERFORMED IN SUCH STATE, WITHOUT REGARD TO THE PRINCIPLES THEREOF REGARDING
CONFLICTS OF LAWS, AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

            (c) Jury Waiver. THE BORROWER WAIVES ALL RIGHT TO TRIAL BY JURY IN
ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AMENDMENT OR
UNDER ANY AGREEMENT, INSTRUMENT OR OTHER DOCUMENT CONTEMPLATED HEREBY OR RELATED
HERETO AND IN ANY ACTION DIRECTLY OR INDIRECTLY RELATED TO OR CONNECTED WITH THE
LOAN PROVIDED FOR HEREIN, OR ANY CONDUCT RELATING TO THE NEGOTIATION,
ADMINISTRATION OR ENFORCEMENT OF SUCH LOAN OR ARISING FROM THE DEBTOR/CREDITOR
RELATIONSHIP OF THE BORROWER AND THE LENDER HERETO. THE BORROWER ACKNOWLEDGES
THAT THIS WAIVER MAY DEPRIVE IT OF AN IMPORTANT RIGHT AND THAT SUCH WAIVER HAS
KNOWINGLY BEEN AGREED TO BY THE BORROWER.

                            SIGNATURE PAGE TO FOLLOW

                                      -7-
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         The parties hereto have executed this Amendment as of the date first
written above.

                                    GOLDEN EAGLE LEASING, INC.

                                    By:  /s/ Jonathon E. Killmer
                                         ---------------------------------------
                                         Name:  Jonathon E. Killmer
                                         Title:

                                    WEBSTER BANK

                                    By:  /s/ Glenn Marx
                                         ---------------------------------------
                                         Name:  Glenn Marx
                                         Title: Assistant Vice President

                                      -8-<PAGE>
                                                                   EXHIBIT 10.23

                                THIRD AMENDMENT
                                     TO THE
                          LOAN AND SECURITY AGREEMENT

      THIS THIRD AMENDMENT (this "Amendment") is made August 28, 2002 by and
between GOLDEN EAGLE LEASING, INC., an Arizona corporation ("Borrower"), and
WEBSTER BANK, a federally chartered savings bank ("Lender").

                                   Background

      A. Lender has extended a revolving credit loan in the maximum amount of
$15,000,000 (the "Loan") to Borrower pursuant to the terms of that certain Loan
and Security Agreement by and between Lender and Borrower dated August 24, 2001
as amended by that certain First Amendment to Loan and Security Agreement by and
between Lender and Borrower dated September 19, 2001, that certain Second
Amendment to Loan and Security Agreement by and between Lender and Borrower
dated March 28, 2002 and that certain letter agreement by and among Lender,
Borrower and Guarantor dated August 22, 2002 (collectively, the "Loan
Agreement").

      B. The Loan is evidenced by that certain Amended and Restated Revolving
Credit Note dated March 28,2002 in the original principal amount of $15,000,000
(the "Note"). The indebtedness of the Note is secured by Borrower's grant to
Lender of a security interest in the Collateral, as such term is defined in the
Loan Agreement.

      C. The Loan has been guarantied by Hypercom Corporation, the Borrower's
parent corporation, pursuant to that certain Guaranty dated as of August 24,
2001 as reaffirmed by that certain Reaffirmation of Guaranty dated March 28,
2002 (collectively, the "Guaranty" and together with the Loan Agreement, the
Note, and all other documents relating thereto, the "Loan Documents").

      D. Borrower has requested that Lender modify the terms of the Loan
Documents to provide for, among other things, an extension of the maturity of
the Loan, a decrease in the Revolving Credit Rate, and a modification of a
financial covenant.

      E. Lender has agreed to Borrower's request, subject to the terms and
conditions contained in this Amendment.

                                   Agreement

      In consideration of the Background, which is incorporated by this
reference, other good and valuable consideration, the receipt and sufficiency of
which is acknowledged, and the mutual promises and covenants contained in this
Amendment, the parties, intending to be bound legally, agree as follows:

<PAGE>

      1. Definitions. Capitalized terms not otherwise defined herein shall have
the meanings ascribed to them in the Loan Agreement.

      2. Extension of Maturity Date.

            (a) The Term set forth in the Transaction Summary forming a part of
Recital A of the Loan Agreement is hereby amended to read as follows:

      Term:  Expires on February 24, 2004

            (b) Section 1(ca) of the Loan Agreement is amended to read as
follows:

      "Maturity Date" shall mean February 24, 2004.

            (c) Section 1(de) of the Loan Agreement is amended to read as
follows:

      "Stated Expiry Date" shall mean February 24, 2004.

      3. Reduction of the Revolving Credit Rate.

            (a) The Revolving Credit Rate set forth in the Transaction Summary
forming a part of Recital A of the Loan Agreement is hereby amended to read as
follows:

      Revolving Credit Rate: The Wall Street Journal Prime Rate plus one and one
      quarter percent (1.25%) or 30 day LIBOR plus four hundred (400) basis
      points.

            (b) Section 2.5(a) of the Loan Agreement is amended to read as
follows:

      2.5 Interest. (a) Borrower shall pay interest to Lender on each Revolving
      Credit Advance at the rate set forth in (i) or (ii) below as elected by
      Borrower at the time the Revolving Credit Advance is requested (the
      "Revolving Credit Rate") provided that (A) no more than fifty percent
      (50%) of the aggregate principal balance of all Revolving Credit Advances
      may bear interest pursuant to (i) below at any time; (B) each Revolving
      Credit Advance for which the Revolving Credit Rate set forth in (i) below
      is elected must be in the amount of no less than one hundred thousand
      dollars ($100,000); (C) Borrower may have no more than five (5) Revolving
      Credit Advances bearing interest at the Revolving Credit Rate set forth in
      (i) below outstanding at any time; and (D) at the option of the Lender the
      rate described in (i) below shall no longer be available following the
      occurrence of an Event of Default hereunder:

      (i) A rate per annum (the "Revolving LIBOR-Based Rate") equal to the sum
      of London InterBank Offering Rate available to Lender for U.S.

                                      -2-
<PAGE>

      dollar thirty-day deposits, plus four hundred (400) basis points, such
      Revolving LIBOR-Based Rate to be further adjusted to compensate Lender for
      all applicable reserve requirements imposed upon Lender in respect of
      LIBOR investments as determined by Lender at the time of such advance and
      at the end of each successive 30 day period thereafter (each an "Interest
      Period"). Each such rate shall remain in effect for the entire Interest
      Period until redetermined for the next successive Interest Period; or

      (ii) A floating rate per annum (the "Revolving Prime-Based-Rate") equal to
      the "Prime Rate" as published in the section of the Wall Street Journal
      entitled "Money Rates," (the "Wall Street Journal Prime Rate") plus one
      and one quarter percent (1.25%). The Revolving Prime-Based Rate will
      change automatically and immediately as of the date of a change in the
      Prime Rate, without notice to the Borrower.

      Interest shall be calculated on the basis of a 360-day year, but shall be
      computed for the actual number of days in each period for which interest
      is charged. With respect to a Revolving Prime-Based Rate, interest shall
      be payable monthly in arrears on the first Business Day of each month.
      With respect to a Revolving LIBOR-Based Rate, interest shall be payable,
      in arrears, on the first Business Day following the expiration of the
      30-day LIBOR period. Notwithstanding anything else set forth herein, all
      interest on the Revolving Credit Loan shall be payable on the Commitment
      Termination Date, and if any interest accrues or remains payable after the
      Commitment Termination Date, upon demand by Lender.

      4. Modification of Financial Covenant.

            Section 5.2(a) of the Loan Agreement is amended to read as follows:

      (a) Total Liabilities/Tangible Net Worth Ratio. Borrower shall maintain a
      ratio of total liabilities (adding any contingent liabilities of the
      Borrower arising from the sale of any Leases) to Tangible Net Worth of no
      greater than (i) 15.0:1.0 as of the end of each Fiscal Quarter of the
      Borrower, beginning with the Fiscal Quarter ending September 30, 2001
      through and including the Fiscal Quarter ending June 30, 2002; and (ii)
      2.25:1.0 as of the end of each Fiscal Quarter of the Borrower thereafter,
      beginning with the Fiscal Quarter ending September 30, 2002.

      5. Limitation on Indebtedness.

            (a) The following is hereby added as Section 6(l) of the Loan
Agreement:

      (l) Create, incur, assume or permit to exist any Indebtedness that would
      cause

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<PAGE>

         (i) Borrower's total outstanding Lease Financing to exceed
         $40,000,000.00,

         (ii) total Lease Financing available to Borrower, including, without
         limitation amounts outstanding and amounts unadvanced under existing
         facilities or transactions, whether committed, discretionary or
         otherwise, to exceed $45,000,000.00, or

         (iii) Borrower's Indebtedness other than (w) Lease Financing, (x) other
         Indebtedness of the Borrower disclosed in the Financial Statements
         delivered by Borrower to Lender pursuant to Section 5.1(c) hereof for
         the Fiscal Month ended June 30, 2002, (y) intercompany Indebtedness
         owed by Borrower to Hypercom up to a maximum of $7,500,000.00, all of
         which is fully subordinate to the Revolving Credit Loan pursuant to
         that certain Subordination Agreement of Hypercom dated August 24, 2002,
         and (z) Indebtedness incurred in connection with the implementation of
         Borrower's new lease tracking and general ledger system (i.e.
         "Leaseworks") up to a maximum of $700,000.00 (such amount to be in
         addition to the approximately $391,000.00 in Indebtedness already
         incurred for such purpose), to exceed $500,000.00,

      in any such case without the prior written consent of the Lender. As used
      herein, the term Lease Financing means the Obligations and other so called
      asset based loans and extensions of credit (A) similar in structure and
      terms to the Revolving Credit Loan, (B) secured solely by assets meeting
      the definition of Leases in Section 1(bq) hereof (other than
      identification on a Lease Certificate), (C) in which the total amount
      advanced and permitted to remain outstanding is limited to a percentage of
      the value of such collateral, and (D) having advance rates and collateral
      eligibility criteria substantially similar to those contained herein. For
      the purposes of this Section 6(l), Borrower's Lease Financing shall be
      determined exclusive of the existing Indebtedness of Borrower as
      evidenced in part by those certain Contract Backed Term Notes of Borrower
      payable to the order of United of Omaha Life Insurance Company, Teachers'
      Insurance and Annuity Association of America and Sigler & Co. dated May
      24, 2001, in the aggregate original principal amount of $31,960,044.00 and
      having an aggregate current principal balance of $16,253,189.34.

            (b) Section 1(bz) of the Loan Agreement is amended to read as
follows:

                                      -4-
<PAGE>

      (bz) "Material Adverse Effect" shall mean: a material adverse effect on
      (a) the business, assets, operations, prospects or financial or other
      condition of Borrower or any other Credit Party or the industry within
      which Borrower or any other Credit Party operates, (b) Borrower's or any
      other Credit Party's ability to pay or perform the Obligations under the
      Loan Documents to which such Credit Party is a party in accordance with
      the terms thereof, (c) the Collateral or Lender's Liens on the Collateral
      or the priority of any such Lien, or (d) Lender's rights and remedies
      under this Agreement and the other Loan Documents. Material Adverse Effect
      shall include, without limitation, the incurrence by Borrower of any
      liability (other than Indebtedness permitted by Section 6(c) or Section
      6(l) and reasonable and customary business expenses incurred in the
      ordinary course of business), contingent or liquidated, which has an
      actual or estimated incurrence of liability, or dollar exposure or loss,
      greater than $100,000.

6.    Modification of Reporting Requirements

            (a) Section 5.1(c) of the Loan Agreement is amended to read as
      follows:

      (c) Within 30 days following the end of each Fiscal Month, the internally
      prepared Financial Statements for such Fiscal Month, accompanied by a
      certification of Lisa Lersner, Chief Operating Officer of Borrower that
      such Financial Statements are complete and correct, that no Restricted
      Payments have been made, that Borrower is in compliance with all financial
      covenants contained herein and that no other Default has occurred (or
      specifying those Defaults of which she is aware), and showing in
      reasonable detail the calculations used in determining compliance with the
      financial covenants hereunder, such certification to be in the form of
      Exhibit H attached hereto, or such other form as Lender shall require;

             (b) The following is hereby added as Section 5.1(g) of the Loan
      Agreement:

      (g) Within 30 days following the end of each Fiscal Quarter, a quarterly
      reconciliation of the lease loss reserve in form, scope, substance and
      level of detail acceptable to the Lender, reconciling the Borrower's
      reserve for future lease losses against actual lease losses for such
      preceding Fiscal Quarter.

      7. Replacement Note.

            (a) Simultaneously with the execution and delivery of this
Amendment, Borrower is executing and delivering to Lender a $15,000,000 Second
Amended and Restated Revolving Credit Note in the form of Exhibit F attached
hereto.

                                      -5-
<PAGE>

            (b) Borrower shall pay interest on the outstanding principal balance
of the Second Amended and Restated Revolving Credit Note and shall repay the
Indebtedness evidenced thereby in accordance with the terms thereof. The
Borrower's obligations under the Second Amended and Restated Revolving Credit
Note are and shall continue to be secured by the Collateral.

            (c) The Second Amended and Restated Revolving Credit Note shall
constitute the Revolving Credit Note under the Loan Agreement for all purposes.
Exhibit F attached hereto shall be substituted for and shall constitute for all
purposes Exhibit F to the Loan Agreement.

            (d) Section 1(db) of the Loan Agreement is amended to read as
follows:

      (db) Revolving Credit Note shall mean the promissory note of Borrower
      dated August __, 2002 substantially in the form of Exhibit F.

      7. Representations and Warranties. All of the representations, warranties
and covenants contained in the Loan Documents are true and correct on and as of
the date hereof.

      8. Conditions Precedent. Lender's obligations hereunder and extension of
the Maturity Date, decrease in the Revolving Credit Rate and modification of the
financial covenant as described above are subject to the satisfaction as of the
date of this Amendment of each of the following conditions precedent which shall
be in form, scope and substance satisfactory to Lender and its counsel:

            (a) Evidence of Corporate Action. Lender shall have received
certified copies of all Board of Director resolutions (in form and substance
satisfactory to Lender) made by Borrower and Guarantor to authorize the
execution, delivery and performance of this Amendment, together with certified
copies of Borrower's and Guarantor's Articles of Incorporation and all
amendments thereto, certified copies of Borrower's and Guarantor's By-Laws and
all amendments thereto, and current Certificates of Good Standing for Borrower
and Guarantor, and such other documents as Lender or its counsel may reasonably
require.

            (b) Guarantor's Documents. Lender shall have received a
Reaffirmation of Guaranty, duly executed by the Guarantor, in form and substance
satisfactory to Lender and its counsel.

            (c) Commitment Fee. In consideration for entering into this
Amendment, the Borrower has paid to Lender a Commitment Fee of $56,250.

            (d) Opinion. Lender shall have received a written opinion of counsel
to Borrower and Guarantor in form and substance satisfactory to Lender and its
counsel.

                                      -6-
<PAGE>

            (e) Legal Fees. Borrower shall have reimbursed Lender for the legal
fees and disbursements of Shipman & Goodwin LLP, counsel to Lender, in
connection with the negotiation, review, execution and delivery of all of the
documents prepared with respect to the transactions contemplated herein, plus
related disbursements.

            (f) Other Documents. Borrower shall have delivered to Lender such
other documents as Lender or its counsel reasonably require.

            (g) Other Lender Approval. Borrower shall have delivered evidence to
the Lender that Borrower's other Lenders, including but not limited to Congress
Financial Corporation, have given their approval to the transactions
contemplated by this Amendment.

      9. Reaffirmation of the Obligations. The Borrower acknowledges and
reaffirms the Obligations, the Borrower's liability for repayment thereof and
all previous grants of collateral by the Borrower to secure the Obligations. The
Borrower acknowledges that no setoff, counterclaim or defense exists with
respect to the Borrower's liability under the Obligations and that no claim
against the Lender exists, and waives its right to raise any such setoff,
counterclaim, defense or claim against the Lender arising out of occurrences on
or prior to the date hereof.

      10. Loan Documents. Except to the extent explicitly modified by this
Amendment or by any document contemplated by, or executed pursuant to the
provisions of this Amendment, all of the provisions of the Loan Documents shall
remain in full force and effect, including, without limitation, all
representations, warranties, negative covenants, affirmative covenants, and
events of default. In addition, as of the date hereof, the Borrower represents
that the Borrower is in full compliance with all provisions of the Loan
Document, and no Event of Default, as specified in the Loan Documents, and no
event which, with the giving of notice or passage of time or both,
would constitute an Event of Default, has occurred. Any default under any of the
Loan Documents shall constitute a default hereunder.

      11. Other.

            (a) Prejudgement Remedy Waiver. THE BORROWER ACKNOWLEDGES THAT THE
TRANSACTIONS TO WHICH THIS AMENDMENT RELATE ARE COMMERCIAL TRANSACTIONS. THE
BORROWER HEREBY VOLUNTARILY AND KNOWINGLY WAIVES ITS RIGHTS TO NOTICE AND
HEARING UNDER CHAPTER 903A OF THE CONNECTICUT GENERAL STATUTES, AS AMENDED AND
IN EFFECT ON THE DATE HEREOF, OR AS OTHERWISE ALLOWED BY ANY STATE OR FEDERAL
LAW WITH RESPECT TO ANY PREJUDGMENT REMEDY OR OTHER RIGHT OR REMEDY THAT THE
LENDER MAY ELECT TO USE OR OF WHICH IT MAY AVAIL ITSELF. THE BORROWER FURTHER
WAIVES, TO THE GREATEST EXTENT PERMITTED BY LAW, THE BENEFITS OF ALL

                                      -7-
<PAGE>

PRESENT AND FUTURE VALUATION, APPRAISEMENT, EXEMPTION, STAY, REDEMPTION AND
MORATORIUM LAWS. THE BORROWER FURTHER WAIVES ANY REQUIREMENT THAT LENDER OBTAIN
A BOND OR OTHER SIMILAR DEVICE IN CONNECTION WITH THE EXERCISE OF ANY REMEDY OR
THE ENFORCEMENT OF ANY RIGHT HEREUNDER.

            (b) Governing Law. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN ANY OF
THE LOAN DOCUMENTS, IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION,
VALIDITY AND PERFORMANCE, THE LOAN DOCUMENTS AND THE OBLIGATIONS ARISING UNDER
THE LOAN DOCUMENTS SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF CONNECTICUT APPLICABLE TO CONTRACTS
MADE AND PERFORMED IN SUCH STATE, WITHOUT REGARD TO THE PRINCIPLES THEREOF
REGARDING CONFLICTS OF LAWS, AND ANY APPLICABLE LAWS OF THE UNITED STATES OF
AMERICA.

            (c) Jury Waiver. THE BORROWER WAIVES ALL RIGHT TO TRIAL BY JURY IN
ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AMENDMENT OR
UNDER ANY AGREEMENT, INSTRUMENT OR OTHER DOCUMENT CONTEMPLATED HEREBY OR RELATED
HERETO AND IN ANY ACTION DIRECTLY OR INDIRECTLY RELATED TO OR CONNECTED WITH THE
LOAN PROVIDED FOR HEREIN, OR ANY CONDUCT RELATING TO THE NEGOTIATION,
ADMINISTRATION OR ENFORCEMENT OF SUCH LOAN OR ARISING FROM THE DEBTOR/CREDITOR
RELATIONSHIP OF THE BORROWER AND THE LENDER HERETO. THE BORROWER ACKNOWLEDGES
THAT THIS WAIVER MAY DEPRIVE IT OF AN IMPORTANT RIGHT AND THAT SUCH WAIVER HAS
KNOWINGLY BEEN AGREED TO BY THE BORROWER.

      The parties hereto have executed this Amendment as of the date first
written above.

                                    GOLDEN EAGLE LEASING, INC.

                                    By: /s/ Scott Tsujita
                                       ---------------------------------
                                       Name:  Scott Tsujita
                                       Title: Senior Executive Officer

                                    WEBSTER BANK

                                    By: /s/ Glenn Marx
                                       ---------------------------------
                                       Name:  Glenn Marx
                                       Title: Vice President

                                      -8-

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