Document:

<PAGE>

                         SECOND AMENDMENT AND AGREEMENT

     THIS SECOND AMENDMENT AND AGREEMENT is made as of the 15th day of August,
2002, by and between FLEET PRECIOUS METALS INC., a Rhode Island corporation with
its principal office at 111 Westminster Street, Providence, Rhode Island 02903
("FPM"), and SEMX CORPORATION, a Delaware corporation with its principal office
at One Labriola Court, Armonk, New York 10504 (the "Company").

                              W I T N E S S E T H:

     WHEREAS, FPM and the Company are parties to a certain Amended and Restated
Consignment Agreement dated as of June 30, 2000, as amended by a certain First
Amendment and Agreement dated as of July 19, 2002 (as it has been or may be
modified from time to time, the "Consignment Agreement"), pursuant to which FPM
agreed to consign certain commodities to the Company upon the terms and
conditions specified therein (the "Consignment Facility");

     WHEREAS, the Company's obligations under the Consignment Agreement are
secured by that certain Security Agreement by and between FPM and the Company
dated as of December 23, 1996 (as it has been or may be modified from time to
time, the "Security Agreement"), pursuant to which the Company has granted to
FPM a security interest in certain Collateral (as defined in the Security
Agreement);

     WHEREAS, the Consignment Agreement, the Security Agreement and all other
agreements, instruments and documents executed in connection with the
Consignment Agreement (as they have been or may be modified from time to time)
are sometimes hereinafter collectively referred to as the "Consignment
Documents";

     WHEREAS, the Company has also obtained financing pursuant to Revolving
Credit, Term Loan and Security Agreement dated October 29, 1999 (as it may have
been or may be modified or replaced from time to time, the "PNC Agreement")
among the Company, PNC Bank, National Association, as Agent ("PNC") and certain
others; and

     WHEREAS, the Maturity Date is August 16, 2002 and the Company has requested
an extension of the Maturity Date; and

     WHEREAS, FPM has agreed to do so, but only on the terms and conditions set
forth herein.

     NOW THEREFORE, for value received and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:

     1. Consignment Limit. Section 1.10 of the Consignment Agreement is hereby
amended in its entirety to read as follows:

         "1.10. 'Consignment Limit' means the lesser of:

<PAGE>

         (a)   an amount equal to the lesser of:

               (i)       One Million Two Hundred Thousand Dollars ($1,200,000);
                         or

               (ii)      The value (as determined pursuant to Paragraph 2.2
                         hereof) of up to Three Thousand Three Hundred
                         Fifty-Five (3,355) fine troy ounces of gold minus the
                         aggregate value of all Consigned Precious Metals
                         returned to FPM pursuant to Paragraph 2.11(c) hereof;
                         or

         (b)   such other limit as FPM may approve in writing in its sole
               discretion."

     2. Maturity Date. Section 1.27 of the Consignment is hereby amended in its
entirety to read as follows:

         "1.27 'Maturity Date' means September 16, 2002."

     3. Deferral of Certain Charge. FPM hereby defers the Company's obligation
to pay a waiver and extension fee in the amount of $15,000.00 (which the Company
hereby acknowledges as due and outstanding) (the "Deferred Fee") to August 29,
2002, provided however, that FPM agrees to waive the Deferred Fee upon FPM's
receipt of satisfactory evidence on or before August 29, 2002 that the expiry
dates of both: (a) a certain Irrevocable Documentary Standby Letter of Credit
No. 8-0024 dated July 18, 2002 issued by Wilmington Trust FSB in favor for the
account of ACI Capital Fund, LP for an amount not to exceed $250,000, and (b) a
certain Irrevocable Standby Letter of Credit dated July 19, 2002 issued by PNC
Bank, National Association in favor of Fleet Precious Metals, Inc. for an amount
not to exceed $150,000, have been extended to no earlier than October 30, 2002.

     4. Conditions Precedent; Conditions Subsequent.

         (a)   This Amendment shall be effective upon the satisfaction of each
               of the following:

               (i)       execution and delivery of this Amendment by each of the
                         Company and FPM;

               (ii)      execution by the Company and delivery to FPM of the
                         Company's resolutions substantially is the form
                         attached as Exhibit A hereto; and

               (iii)     receipt by FPM of the Company's payment of FPM's costs
                         (including reasonable attorneys' fees and expenses of
                         $3,000.00 through August 16, 2002) relating to the
                         negotiation, drafting and execution of this Amendment
                         and all matters incidental thereto.

         (b)   The effectiveness of this Amendment shall be contingent upon
               receipt by FPM, either physically at FPM's vault in Providence,
               Rhode Island or

                                       2
<PAGE>

               through a recognized third party, of the return of 100 fine troy
               ounces gold of Consigned Precious Metal by close of business on
               August 23, 2002.

     5. Miscellaneous.

         (a)   Except as amended hereby, the Consignment Documents shall remain
               in full force and effect and are in all respects hereby ratified
               and affirmed.

         (b)   The Company hereby affirms each representation, warranty and
               covenant set forth in the Consignment Documents as if fully set
               forth herein in full. The Company acknowledges and confirms that
               there are no defenses, claims or setoffs available to the Company
               which would operate to limit its obligations under the
               Consignment Documents and hereby releases any and all such
               defenses, claims and setoffs, and hereby further releases any and
               all causes of action or any other type of claim against FPM or
               its employees, representatives, officers and agents of any type
               whatsoever, whether or not now known, and regardless of the
               nature of the same.

         (c)   The Company shall pay all out-of-pocket expenses, costs and
               charges incurred by FPM (including reasonable fees and
               disbursements of counsel) in connection with the preparation and
               implementation of this Amendment.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       3
<PAGE>

         IN WITNESS WHEREOF, the undersigned parties have caused this First
Amendment and Agreement to be executed by their duly authorized officers as of
the date first above written.

WITNESS:                                   FLEET PRECIOUS METALS INC.

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

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

WITNESS:                                   SEMX CORPORATION

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

STATE OF NEW YORK
COUNTY OF __________

On the ____ day of August, 2002, before me personally came____________________,
to me known, who, being by me duly sworn, did depose and say that he/she is the
________________________ of SEMX CORPORATION, and that the foregoing is his/her
free act and deed and the free act and deed of SEMX Corporation.

                                                 -------------------------------
                                                 Notary Public
                                                 My Commission Expires

                                       4
<PAGE>

                                    EXHIBIT A

                         CERTIFIED CORPORATE RESOLUTIONS

To:  Fleet Precious Metals Inc.
     111 Westminster Street
     Providence, RI 02903
     Att'n:  Paul M. Mongeau
            Vice President

     The undersigned Secretary of SEMX CORPORATION, a Delaware corporation (the
"Corporation"), hereby certifies that at a meeting of the Board of Directors of
the Corporation duly called and held as of the 15th day of August, 2002 at
which meeting a quorum was duly present and acting throughout, the following
votes were duly adopted:

     VOTED:    That the Chairman, the President, any Vice President or Treasurer
               of the Corporation, signing singly, and their respective
               successors in office, be and they hereby are authorized,
               empowered and directed on behalf of the Corporation to do and
               perform all acts and things and to execute, acknowledge and
               deliver all instruments and documents of whatsoever kind and
               nature necessary or incidental to or required by Fleet Precious
               Metals Inc., a Rhode Island corporation ("FPM"), for the
               transaction of all of the business of the Corporation with FPM,
               and, without limiting the generality of the foregoing, in
               particular (i) to sign, endorse or deposit any and all drafts,
               notes, acceptances, documents of title, contracts for the opening
               of commercial credits and for the creation of acceptances, and
               spot or forward contracts in foreign exchange, and the use is
               hereby authorized of a rubber stamp endorsement on drafts, notes
               and acceptances whose proceeds are credited to any account of the
               Corporation with FPM; (ii) to borrow and otherwise effect
               consignments, loans and advances or any extensions of credit, at
               any time and in any amount or form, for this Corporation from
               FPM; (iii) to sell to or discount with FPM any or all commercial
               paper, receivables and other evidences of debt at any time held
               by the Corporation; and (iv) to pledge, hypothecate, mortgage,
               assign, transfer, endorse and deliver to FPM as security for the
               payment of any obligation at any time owed to FPM, any and all
               property of every description, real or personal, and any interest
               therein at any time held by the Corporation; and it is further

     VOTED:    That the Corporation enter into a Second Amendment and Agreement
               (the "Second Amendment Agreement") with FPM pursuant to which the
               parties will amend that certain Amended and Restated Consignment
               Agreement by and between FPM and the Corporation dated as of June
               30, 2000, as amended by a certain First Amendment and Agreement
               dated as

<PAGE>

               of July 19, 2002 (the "Consignment Agreement"): (i) to extend the
               maturity of the consignment facility to September 16, 2002; and
               (ii) to make certain other conforming or otherwise necessary
               changes in the Consignment Agreement; which Amendment Agreement
               is to be substantially in the form presented to this meeting,
               with such changes in the text, form and terms thereof as the
               officer of the Corporation executing such document may deem
               necessary or desirable and proper (the necessity or desirability
               and propriety of such changes to be conclusively evidence by the
               execution and delivery of such document); and it is further

     VOTED:    That the Chairman, the President, any Vice President or Treasurer
               be, and any one of them acting singly hereby is, authorized,
               empowered and directed to execute, acknowledge and deliver to FPM
               the Second Amendment on behalf of the Corporation; and it is
               further

     VOTED:    That the Chairman, the President, any Vice President or Treasurer
               be, and any one of them hereby is, authorized, empowered and
               directed to execute, acknowledge and deliver to FPM any and all
               other documents (including, without limitation, any UCC Financing
               Statements) and to take any and all other action as such officer
               deems appropriate to effectuate the purposes of these
               resolutions; and any and all documents and agreements heretofore
               executed, acknowledged and delivered and acts or things
               heretofore done to effectuate the purposes of these resolutions
               are hereby in all respects ratified, confirmed and approved as
               the act or acts of the Corporation; and it is further

     VOTED:    That FPM is hereby authorized to rely upon these resolutions and
               the following certificate of the Secretary of the Corporation
               until FPM receives written notice of the revocation thereof.

     I hereby certify that I have personally examined the Articles or
Certificate of Incorporation and By-laws and all amendments thereto of the
Corporation and the agreements, indentures and other instruments to which the
Corporation is a party; that neither the resolutions set forth above nor any
action taken or to be taken pursuant thereto are or will be in contravention of
any provision or provisions of the Articles or Certificate of Incorporation or
By-laws of the Corporation or any agreement, indenture or other instrument to
which the Corporation is a party; that neither the Articles or Certificate of
Incorporation of the Corporation nor any amendment thereto contains any
provisions requiting any vote or consent of shareholders of the Corporation to
authorize any creation of a security interest in all or any part of the

                                       2

<PAGE>

Corporation's property or any interest therein or to authorize any other action
taken or to be taken pursuant to such resolutions; that the foregoing
resolutions are and remain in full force and effect on and as of the date of
this certificate, and have not been amended or revoked; and that the following
were duly elected to and are now holding the offices set opposite their
signatures:

Title                         Name                       Signature
-----                         ----                       ---------

Chairman
                             -----------------------     -----------------------

President
                             -----------------------     -----------------------

Vice President
                             -----------------------     -----------------------

Secretary, Treasurer and      Mark A. Koch
Controller                                               -----------------------

         I certify that attached hereto is a true and correct copy of the bylaws
of the Corporation.

         IN WITNESS WHEREOF, I have set my hand and affixed the seal of the
Corporation as of the ____ day of August, 2002.

                                                 -------------------------------
                                                 Mark A. Koch
                                                 Secretary

                                       3<PAGE>
                                                                    EXHIBIT 10.1

                       LIMITED WAIVER TO CREDIT AGREEMENT

         THIS LIMITED WAIVER TO CREDIT AGREEMENT (this "Waiver") is entered into
as of May 20, 2002 among LA PETITE ACADEMY, INC., a Delaware corporation (the
"Borrower"), LPA HOLDING CORP., a Delaware corporation ("Holdings"), and the
Lenders party hereto. Capitalized terms used herein and not otherwise defined
shall have the meanings ascribed thereto in the Credit Agreement (as defined
below).

                                    RECITALS

         WHEREAS, the Borrower, Holdings and the Lenders entered into that
certain Credit Agreement, dated as of May 11, 1998 (as previously amended and
modified by Amendment No. 1, dated as of December 13, 1999; Amendment No. 2,
dated as of June 29, 2000; Amendment No. 3, dated as of November 14, 2001;
Amendment No. 4, dated as of February 5, 2002; and as otherwise amended or
modified from time to time, the "Credit Agreement");

         WHEREAS, Events of Default exists under the Credit Agreement as a
result of the failure of the Borrower to comply with the terms of Sections 6.13
and 6.15 of the Credit Agreement for the third fiscal quarter which ended
nearest to March 31, 2002 (the "Existing Defaults");

         WHEREAS, the Borrower has requested that the Lenders waive the Existing
Defaults;

         WHEREAS, the Required Lenders are willing to provide a limited waiver
of the Existing Defaults for the period of time from the date hereof through and
including August 15, 2002 (the "Waiver Period"), based upon and subject to the
terms and conditions specified in this Waiver; and

         NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:

                                    SECTION 1

                                     WAIVER

         (a) The Borrower acknowledges the existence and continuation of the
Existing Defaults. The Required Lenders hereby waive the Existing Defaults for,
and only for, the Waiver Period. From and after the end of the Waiver Period,
the waiver set forth herein shall be of no further force and effect and the
Administrative Agent and the Lenders shall be entitled to

<PAGE>

exercise any and all rights and remedies available under the Loan Documents and
applicable law with respect to the Existing Defaults.

         (b) Except for the specific waiver set forth above, nothing contained
herein shall be deemed to constitute a waiver of (i) any rights or remedies the
Administrative Agent or any Lender may have under the Credit Agreement or any
other Loan Document or under applicable law or (ii) the Loan Parties' obligation
to comply fully with any duty, term, condition, obligation or covenant contained
in the Credit Agreement and the other Loan Documents not specifically waived.

         (c) The specific waiver set forth herein is a one-time waiver and shall
be effective only in this specific instance during the Waiver Period, and shall
not obligate the Lenders to waive any Default or Event of Default (including,
without limitation, any waiver of the Existing Defaults following the end of the
Waiver Period) other than the Existing Defaults, now existing or hereafter
arising.

         (d) The Borrower shall pay a waiver fee (the "Waiver Fee") to each
Lender who duly executes and delivers this Waiver on or before 5:00 p.m. Eastern
Daylight Time, on May 28, 2002. The Waiver Fee shall be equal to one-eighth of
one percent (0.125%) of such Lender's respective aggregate Commitments and shall
be paid by the Borrower to the Administrative Agent (for distribution to such
Lender) as soon as practicable but in no event later than one business day
following the date that such Lender's signature to this Waiver is delivered to
the Borrower. Notwithstanding anything to the contrary contained herein, no
Waiver Fee shall be payable to any Lender unless this Waiver shall be deemed
effective in accordance with Section 2.1 hereof.

                                    SECTION 2

                                  MISCELLANEOUS

         2.1  Effectiveness. This Waiver be effective upon receipt by the
Administrative Agent of counterparts of this Waiver executed by each of the Loan
Parties and the Required Lenders. Notwithstanding anything to the contrary
contained herein, this Waiver shall be void ab initio upon the failure of the
Borrower to pay the Waiver Fee or the Expense Reimbursement (as defined below)
in accordance with the terms hereof.

         2.2  Ratification of Credit Agreement and Other Loan Documents. The
Credit Agreement and the other applicable Loan Documents are hereby ratified and
confirmed and are in full force and effect.

         2.3  Authority/Enforceability. Each party hereto represents and
warrants that (a) it has taken all necessary action to authorize the execution,
delivery, and performance of this Waiver; (b) this Waiver has been duly executed
and delivered by such Person and constitutes such Person's legal, valid, and
binding obligations, enforceable in accordance with its terms, except as such
enforceability may be subject to (i) bankruptcy, insolvency, reorganization,
fraudulent

                                       2
<PAGE>

conveyance or transfer, moratorium, or similar laws affecting creditors' rights
generally and (ii) general principles of equity (regardless of whether such
enforceability is considered in a proceeding at law or in equity); and (c) no
material consent, approval, authorization, or order of, or filing, registration,
or qualification with, any court or Governmental Authority or third party is
required in connection with the execution, delivery, or performance by such
Person of this Waiver.

         2.4  Representation and Warranties. Borrower and Holdings represent and
warrant to the Lenders that (a) the representations and warranties of Borrower
and Holdings set forth in Article III of the Credit Agreement qualified as to
materiality are true and correct as of the date hereof and those not so
qualified are true and correct in all material respects as of the date hereof,
except, in each case, for those representations and warranties that specifically
relate to an earlier date; (b) except for the Existing Defaults, no event has
occurred and is continuing which constitutes a Default or an Event of Default;
(c) the Security Documents create a valid security interest in, and Lien upon,
the Collateral; and (d) Holdings has received proceeds from the Equity
Commitments equal to at least $10,750,000 (in the aggregate) on or prior to May
14, 2002, and such proceeds have been contributed by Holdings to the Borrower
for use as working capital and general corporate purposes.

         2.5  Expenses. The Borrower shall reimburse (the "Expense
Reimbursement") the Administrative Agent for all legal fees incurred by the
Administrative Agent and Highland Capital Management, L.P. in connection with
the Credit Agreement (including this Waiver). The Expense Reimbursement shall be
paid by the Borrower to the Administrative Agent (or directly to the
Administrative Agent's counsel) as soon as practicable but in no event later
than one business day following receipt by the Borrower of an invoice for such
legal fees.

         2.6  Counterparts/Telecopy. This Waiver may be executed in any number
of counterparts, each of which when so executed and delivered shall be an
original, but all of which shall constitute one and the same instrument.
Delivery of executed counterparts by telecopy shall be effective as an original
and shall constitute a representation that an original will be delivered if
requested.

         2.7  GOVERNING LAW. THIS WAIVER AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

                  [remainder of page intentionally left blank]

                                       3
<PAGE>

                                 Signature Page
                       Limited Waiver to Credit Agreement
                             La Petite Academy, Inc.

         IN WITNESS WHEREOF, the parties hereto have caused this Limited Waiver
to Credit Agreement to be duly executed and delivered by their proper and duly
authorized officers or attorneys-in-fact as of the day and year first above
written.

BORROWER:                               LA PETITE ACADEMY INC.

                                        By:    /s/ Michael L. Goldberg
                                           -------------------------------------
                                        Name:  Michael L. Goldberg
                                        Title: Vice President & Chief Financial
                                               Officer

HOLDINGS:                               LPA HOLDING CORP.

                                        By:    /s/ Michael L. Goldberg
                                           -------------------------------------
                                        Name:  Michael L. Goldberg
                                        Title: Vice President & Chief Financial
                                               Officer

<PAGE>

                                 Signature Page
                       Limited Waiver to Credit Agreement
                             La Petite Academy, Inc.

         Each of the undersigned are unconditional guarantors of all obligations
of the Borrower under the Loan Documents and acknowledge and agree that (a) this
Waiver does not modify or waive any of its obligations under the Loan Documents,
including the Guarantee Agreements and (b) all Liens granted by it to support
its obligations remain in full force and effect.

                                        LPA HOLDING CORP.

                                        By:    /s/ Michael L. Goldberg
                                           -------------------------------------
                                        Name:  Michael L. Goldberg
                                        Title: Vice President & Chief Financial
                                               Officer

                                        LPA SERVICES, INC.

                                        By:    /s/ Michael L. Goldberg
                                           -------------------------------------
                                        Name:  Michael L. Goldberg
                                        Title: Vice President & Chief Financial
                                               Officer

                                        BRIGHT START, INC.

                                        By:    /s/ Michael L. Goldberg
                                           -------------------------------------
                                        Name:  Michael L. Goldberg
                                        Title: Vice President & Chief Financial
                                               Officer

<PAGE>

                                 Signature Page
                       Limited Waiver to Credit Agreement
                             La Petite Academy, Inc.

[LENDERS:](1)                           U.S. BANK NATIONAL ASSOCIATION
                                        (formerly Mercantile Bank), as
                                        Administrative Agent and a Lender

                                        By:    /s/ Jason Nadler
                                           -------------------------------------
                                        Name:  Jason Nadler
                                        Title: Assistant Vice President

----------------------
(1)   NAMES OF THE CURRENT LENDERS TO BE CONFIRMED.

<PAGE>

                                 Signature Page
                       Limited Waiver to Credit Agreement
                             La Petite Academy, Inc.

                                        JPMORGAN CHASE BANK (formerly The Chase
                                        Manhattan Bank)

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

<PAGE>

                                 Signature Page
                       Limited Waiver to Credit Agreement
                             La Petite Academy, Inc.

                                        ML CBO IV CAYMAN

                                        By: Highland Capital Management, L.P.,
                                            as Collateral Manager

                                        By:    /s/ Mark K. Okada
                                           -------------------------------------
                                        Name:  Mark K. Okada
                                        Title: Executive Vice President

<PAGE>

                                 Signature Page
                       Limited Waiver to Credit Agreement
                             La Petite Academy, Inc.

                                        HIGHLAND LEGACY, LTD

                                        By: Highland Capital Management, L.P.,
                                            as Collateral Manager

                                        By:    /s/ Mark K. Okada
                                           -------------------------------------
                                        Name:  Mark K. Okada
                                        Title: Executive Vice President

<PAGE>

                                 Signature Page
                       Limited Waiver to Credit Agreement
                             La Petite Academy, Inc.

                                        PAMCO CAYMAN LTD

                                        By: Highland Capital Management, L.P.,
                                            as Collateral Manager

                                        By:    /s/ Mark K. Okada
                                           -------------------------------------
                                        Name:  Mark K. Okada
                                        Title: Executive Vice President

<PAGE>

                                 Signature Page
                       Limited Waiver to Credit Agreement
                             La Petite Academy, Inc.

                                        KZH HIGHLAND-2 LLC

                                        By:    /s/ Susan Lee
                                           -------------------------------------
                                        Name:  Susan Lee
                                        Title: Authorized Agent

<PAGE>

                                 Signature Page
                       Limited Waiver to Credit Agreement
                             La Petite Academy, Inc.

                                        SRV - HIGHLAND, INC.

                                        By:    /s/ Ann E. Morris
                                           -------------------------------------
                                        Name:  Ann E. Morris
                                        Title: Assistant Vice President

<PAGE>

                                 Signature Page
                       Limited Waiver to Credit Agreement
                             La Petite Academy, Inc.

                                        BANK OF AMERICA, N.A.
                                        (formerly NationsBank, N.A.)

                                        By:    /s/ Therese Fontaine
                                           -------------------------------------
                                        Name:  Therese Fontaine
                                        Title: Managing Director

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