Document:

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                                                                    Exhibit 10.1

                            CUMMINGS PROPERTIES, LLC
                                 STANDARD FORM

                                                                  08030417-DGC-C
                                LEASE EXTENSION

      In connection with a lease currently in effect between the parties at 10-M
Commerce Way , Woburn , Massachusetts, executed on November 3, 1998 and
terminating December 14, 2003 , and in consideration of the mutual benefits to
be derived herefrom, Cummings Properties, LLC, LESSOR, and MicroFinancial
Incorporated , LESSEE, hereby agree, effective December 15, 2003 , to amend said
lease as follows:

1.    The lease is hereby extended for an additional term of two (2) years and
      one-half (1/2) month ending at noon on December 30, 2005 .

2.    Base rent is hereby changed to five hundred eighty four thousand seven
      hundred ninety two (584,792) dollars per year or $ 48,732.66 per month.

3.    The base month from which to determine the amount of each annual increase
      * in the "Cost of Living" shall be **November 2004 , which figure shall be
      compared with the figure for November 2004 , and each November thereafter
      to determine the percentage increase * (if any) in the base rent to be
      paid during the following calendar year.
      *or decrease      **January

                        [THIS PARAGRAPH DOES NOT APPLY]
4.    Upon execution of this Lease Extension, the security deposit shall be
      increased by $ from $ to a new total of $ . LESSEE shall pay this increase
      upon LESSEE's execution of this Lease Extension.

                        [THIS PARAGRAPH DOES NOT APPLY]
5.    The lease, including all terms, conditions, escalations, etc. shall be
      automatically extended for additional successive periods of two (2) years
      each unless LESSOR or LESSEE shall serve written notice, either party to
      the other, of either party's desire not to so extend the lease. The time
      for serving such written notice shall be not more than twelve months or
      less than six months prior to the expiration of the then current lease
      period. Time is of the essence.

6.    Notwithstanding Section 20 of the lease, in the event the entire balance
      of rent due under the lease becomes due and payable as liquidated damages,
      said amount shall be discounted to its net present value as of the date of
      LESSOR's notice of default, using the published prime rate then in effect.
      Furthermore, LESSEE's covenants under the lease shall be independent of
      LESSOR's covenants, and LESSOR's failure to perform any of its covenants
      under the lease, including a covenant constituting a significant
      inducement to LESSEE to enter into the lease, shall not excuse the payment
      of rent or any other charges by LESSEE or allow LESSEE to terminate the
      lease.

7.    In the event either party has employed a real estate broker, tenant
      representative, or other third party on its behalf in connection with this
      Lease Extension and/or any further extension, renewal, or expansion of the
      lease, then payment of any and all fees or commissions shall be the sole
      responsibility of the party engaging any such broker, representative, or
      third party. LESSEE and LESSOR agree that the party who so engages any
      broker, representative, or other third party shall indemnify the other
      against any and all claims for any such fees or commissions.
      Notwithstanding the above, LESSOR agrees to pay a brokerage commission of
      $26,315.64 on LESSEE's behalf to Brian T. Hines of Trammell Crow Company
      on account of this Lease Extension. LESSEE warrants that this is the total
      commission to be paid by LESSOR on account of this Lease Extension, and
      shall indemnify and hold LESSOR harmless against any other commission
      arising out of this Lease Extension.

8.    To the extent any inconsistency exists between this Lease Extension and
      the lease, including any prior amendments, the conditions contained herein
      shall control and supersede any earlier provisions. Neither the submission
      of this Lease Extension, nor the prospective acceptance of any increase in
      the security deposit, shall constitute a reservation of or option for the
      leased premises, it being expressly understood and agreed that this Lease
      Extension shall not bind either party in any manner whatsoever until it
      has been executed by both parties.

9.    * During the extended lease term as described above, the base from which
      to determine the amount of any increase in real estate taxes pursuant to
      Section 4 of the lease is hereby changed to the rate and the assessment in
      effect as of July 1, 2003.

10.   * Leasecomm Corporation (a MA corp.) is hereby added as LESSEE in addition
      to MicroFinancial Incorporated. "LESSEE" as used in the lease, including
      any amendment thereto, shall refer to both entities, and their
      responsibility shall be joint and several pursuant to Section 30 of the
      lease. The party added herein as LESSEE shall, upon its execution of this
      Lease Extension, supply LESSOR with a certificate of insurance in the
      amount of $1,000,000 naming LESSOR and the owner of the building (OWNER)
      as additional insureds. LESSOR and OWNER shall be included as additional
      insureds using standard endorsement ISO Form CG 20 26 11 85 or another
      similar form specifically approved in advance by LESSOR.

                                                                    /s/   LESSOR
                                                                   -----
                                                                    /s/   LESSEE
                                                                   -----
                                                                    /s/   LESSEE
                                                                   -----
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                                LEASE EXTENSION
                                  (CONTINUED)

11.   Notwithstanding anything in the lease to the contrary, in no case may
      LESSEE assign the lease or sublet the leased premises to any current or
      prospective tenant of LESSOR, or any affiliate of such current or
      prospective tenant. In the event LESSOR approves a sublease or assignment
      of the lease, LESSEE shall pay LESSOR on or before the first of each month
      during the period of the sublease or assignment, 50 percent of any amount
      by which the payments due to LESSEE under the sublease or assignment
      exceed the rent payment due from LESSEE to LESSOR for that month, after
      agreed upon deductions for brokerage fees, tenant improvements allowances
      and attorney fees (if any). Such amount shall, however, be calculated on a
      proportionate basis in the case of a sublease of only a portion of the
      leased premises. The provisions of Section 11 of the lease shall govern
      subleases and assignments in all other respects. For the purpose of this
      section "prospective tenant" shall mean any entity or individual that
      during the previous 12 months, has been in contact with LESSOR with
      respect to leasing space in a property owned or managed by LESSOR, either
      directly or through an agent or broker.

12.   * LESSOR represents that Cummings Properties, LLC has succeeded to all
      interests of Cummings Properties Management, Inc. as LESSOR.

      All other terms, conditions and covenants of the lease shall continue to
apply. In Witness Whereof, LESSOR and LESSEE have hereunto set their hands and
common seals this 16th day of September ,2003.

LESSOR: CUMMINGS PROPERTIES, LLC          LESSEE: MICROFINANCIAL INCORPORATED

  By: /s/ Douglas Stephenson                By: /s/ Richard F. Latour
      --------------------------------          --------------------------------
                       Duly Authorized                           Duly Authorized

                                            Print Name: /s/ Richard F. Latour
                                                        ------------------------

                                          LESSEE: LEASECOMM CORPORATION

                                            By: /s/ Richard F. Latour
                                                --------------------------------
                                                                 Duly Authorized

                                            Print Name: /s/ Richard F. Latour
                                                        ------------------------

06/2003<PAGE>

                                                                    Exhibit 10.1
July 8, 2003

Ms. Christine Cournoyer
49 Miles River Road
Hamilton, MA 01982

Re:  Separation Agreement and Release

Dear Christine:

         This Agreement will confirm our mutual understanding with respect to
the arrangements we have made in connection with our agreed upon termination of
your position as an officer of Lightbridge, Inc. ("Lightbridge" or the
"Company") and of your employment.

         1.       Termination of Position as Officer; Termination of Employment.

         You and the Company hereby agree to the termination of your position as
an officer of the Company effective July 11, 2003. Your status as an employee
and all employee benefits will also be terminated effective July 11, 2003.

         2.       Transition Period.

         You will continue to perform in a professional manner your current
duties and/or such other transition duties as may be assigned to you by the CEO
until July 11, 2003. Your current base salary and benefits, subject to required
deductions and employee contributions, will continue in effect until July 11,
2003 provided that you comply with the terms of this Agreement.

         3.       Severance Payment.

         If you sign this letter agreement and release (and do not timely revoke
your agreement as set forth in Paragraph 16), then you will be paid a lump sum
amount equal to fifteen months of your current base salary (less required
withholdings and deductions for taxes).

         4.       Accrued Paid Vacation and Time Off.

         All accrued but unused vacation time earned through July 11, 2003 will
be paid on that date.

         5.       Voicemail, Computer, and Return of Company Property.

         Use of voicemail and network access will be provided through July 11,
2003. All other property, equipment and materials of the Company will be
returned by you to the Company promptly after July 11, 2003.

         6.       COBRA Group Insurance Coverage.

         As of July 11, 2003, you and your family members will be eligible to
continue your group health insurance coverage in accordance with the federal
COBRA law. Information about your rights under this law and forms for electing
continuation coverage will be provided to you by a separate letter on or about
July 11, 2003. If you or any of your family members elect to continue this
coverage, you and the Company will continue to pay the same share of the monthly
premium subject to carrier rate adjustments as if you were still employed
through October 11, 2004.

         7.       Outplacement Assistance.

         To assist you in regard to outplacement, the Company will pay up to
$25,000.00 for outplacement services which are provided to you by a
Company-approved agency prior to the earlier of October 11, 2004 or the date you
commence new employment or paid consulting activities. Appropriate invoices for
outplacement services should be submitted promptly to the Company.

<PAGE>

         8.       Confidential Information.

         You understand and agree that the Company's confidential information
belongs exclusively to the Company, and that the confidential information of the
Company's customers or of other organizations with which the Company does
business remains their exclusive property. You agree that you will not use or
disclose any such confidential information, whether for your benefit or for the
benefit of another, and that you will hold and treat such information as
confidential information, unless you have specific prior written authorization
from the Company to disclose it. By your signature below and in consideration of
the payments and benefits provided herein, you agree that the provisions
contained in the Company's form of confidentiality and non-competition agreement
attached hereto are incorporated herein and remain in effect in accordance with
their terms.

         9.       Non-Disparagement.

         You agree that you will not make any disparaging statements about the
Company or any of its subsidiaries, affiliates, officers, directors or
employees, or its business or prospects.

         10.      Release and Waiver.

         This letter agreement and the agreement referenced in paragraph 8
contain the entire agreement between you and the Company (and supersede any
prior communications, written or oral) with respect to your employment by the
Company and the termination of such employment, and with respect to all matters
pertaining thereto. This letter agreement shall be in complete and final
settlement of any and all causes of action or claims that you have had, now have
or may now have, in any way related to or arising out of or in connection with
such employment and/or its termination or pursuant to any federal, state or
local employment laws, regulations, executive orders or other requirements,
including without limitation Massachusetts General Laws c. 151B ("Unlawful
Discrimination"), Title VII of the Civil Rights Act of 1964, and the Age
Discrimination in Employment Act of 1967. In consideration of the pay and
benefits that you will receive under this letter agreement, you hereby release,
waive and discharge any and all such causes of action or claims (including
without limitation claims for attorney's fees and costs) against the Company,
its parent, subsidiary and affiliated organizations, and their respective past,
present and future directors, officers, agents, employees, successors and
assigns, and you hereby agree that, to the extent permitted by law, neither you
nor any of your heirs or personal representatives will ever assert in any forum
any such cause of action or claim. THIS MEANS YOU MAY NOT SUE LIGHTBRIDGE FOR
ANY CURRENT OR PRIOR CLAIMS ARISING OUT OF YOUR EMPLOYMENT WITH OR TERMINATION
FROM LIGHTBRIDGE.

         You further agree that you will not bring any lawsuits, file any
charges or complaints, or make any other demands against Lightbridge, or further
pursue any lawsuits, cases or complaints already brought, based on your
employment by Lightbridge. You further represent that you have no current or
pending actions, charges, lawsuits, or complaints against Lightbridge. You
acknowledge and understand that the consideration provided for in this letter
agreement constitutes a full, fair and complete payment for the release and
waiver of all of your possible claims. You acknowledge and understand that
Lightbridge does not owe you anything for your employment in addition to the
consideration set forth in this letter agreement.

         11.      Compliance.

         All payments to be made to you in accordance with the terms of this
letter agreement, and the performance by the Company of its other obligations
hereunder, shall be conditioned on your compliance with your obligations
hereunder.

         12.      Governing Law.

         The parties intend this letter agreement to be governed by the
substantive laws of The Commonwealth of Massachusetts.

         13.      Challenge to Validity of Letter Agreement.

         Lightbridge and you shall never bring a proceeding to challenge the
validity of this letter agreement. If you do, you will first be required to pay
back to Lightbridge any monies received from Lightbridge under paragraph 3 of
this Agreement.

<PAGE>

         14.      Enforcement.

         In the event that you violate any of the terms of paragraphs 8 or 9 of
this letter agreement, then any remaining payments described in paragraph 7
shall cease. In the event that you violate paragraphs 8 or 9, in addition to any
money damages that Lightbridge may be owed, Lightbridge shall also be entitled
to seek and obtain an order enjoining any future violations.

         15.      Consideration Period.

         In signing this letter agreement, you acknowledge that you understand
its provisions, that your agreement is knowing and voluntary, that you have been
afforded a full and reasonable opportunity of at least 21 days to consider its
terms and to consult with or seek advice from an attorney or any other person of
your choosing, and that you have been advised by the Company to consult with an
attorney prior to executing this letter agreement and the release and wavier of
claims in paragraph 10.

         16.      Revocation Period.

         For a period of seven (7) days following your execution of this letter
agreement and release, you may revoke your agreement, and this letter agreement
and release shall not become effective or enforceable until this seven (7) day
revocation period has expired. No payments provided for by this letter agreement
will be made until after this seven-day period has expired without your revoking
your agreement. You understand and acknowledge that the terms of your employment
and the Company's usual severance policies or practices would have provided you
less severance pay and benefits than those provided to you under this agreement.

         17.      Stock Options.

         You are currently the holder of options to purchase a total of 275,000
shares of the Company's common stock, $.01 par value per share. The Company
agrees that, notwithstanding the terms of the option agreements and related
plans, (i) commencing on the eighth day after execution of this letter agreement
by you, such options shall be exercisable for the full number of shares issuable
thereunder and (ii) such options shall remain exercisable until October 11,
2004. You understand that, as a result of the foregoing agreements, your options
will no longer qualify for incentive stock option treatment under the Internal
Revenue Code.

         If you agree to the foregoing, would you kindly sign and return the
enclosed copy of this letter, whereupon this letter and such copy will
constitute a binding agreement between you and the Company on the basis set
forth above.

Very truly yours,

Pamela D.A. Reeve
CEO

 /s/ Pamela D.A. Reeve

--------------------------------               Date: July 8, 2003

AGREED:  /s/ Christine Cournoyer                     July 11, 2003
        ------------------------                     -------------
         Employee's Signature                        Date signed

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