Document:

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                                                                    EXHIBIT 10.1

                                   HPSC, INC.

                     2002 SUPPLEMENTAL STOCK INCENTIVE PLAN

                                  MAY 14, 2002
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                                TABLE OF CONTENTS

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<S>   <C>                                                                                                        <C>
1.    Purpose; Restrictions.......................................................................................1
2.    Effective Date..............................................................................................1
3.    Stock Covered by the Plan...................................................................................1
4.    Administration..............................................................................................1
5.    Eligible Recipients; Automatic Grants to Non-Employee Directors.............................................2
   (a)    Key Employees, Consultants and Other Individual Contributors............................................2
   (b)    Non-Employee Directors..................................................................................2
      (i)    Price................................................................................................3
      (ii)   Exercise.............................................................................................3
      (iii)  Expiration...........................................................................................3
      (iv)   Other Terms..........................................................................................3
6.    Duration of the Plan........................................................................................3
7.    Terms and Conditions of Options.............................................................................3
   (a)    Price...................................................................................................3
   (b)    Number of Shares........................................................................................3
   (d)    Exercise of Options.....................................................................................3
   (e)    Payment.................................................................................................4
   (f)    Withholding Taxes; Delivery of Shares...................................................................4
   (g)    Transferability.........................................................................................5
   (h)    Termination of Options..................................................................................5
   (i)    Rights as Stockholder...................................................................................6
   (j)    Forfeiture..............................................................................................6
   (l)    Confidentiality Agreements..............................................................................6
   (m)    Aggregate Limitation....................................................................................6
   (n)    Right to Terminate......................................................................................6
   (o)    Deferral................................................................................................6
8.    Certain Restrictions on Exercise............................................................................8
9.    Suspension of Rights Prior to a Dissolution, Reorganization, Etc............................................8
10.   Adjustment in Shares........................................................................................8
11.   Investment Representations; Transfer Restrictions...........................................................9
12.   Definitions.................................................................................................9
   (a)    "Board".................................................................................................9
   (b)    "Change in Control".....................................................................................9
   (c)    "Code"..................................................................................................9
   (d)    "Committee".............................................................................................9
   (e)    "Common Stock"..........................................................................................9
   (f)    "Company" and "Company Group"...........................................................................9
   (g)    "Deferred Compensation Account".........................................................................9
   (h)    "Director Option".......................................................................................9
   (i)    "Disability"............................................................................................9
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   (j)    "Effective Date"........................................................................................9
   (k)    "Employee"..............................................................................................9
   (l)    "Event"................................................................................................10
   (m)    "Exchange Act".........................................................................................10
   (n)    "Incentive Option".....................................................................................10
   (o)    "Market Price".........................................................................................10
   (p)    "1995 Plan"............................................................................................10
   (q)    "Non-Employee Director"................................................................................10
   (r)    "Nonqualified Option"..................................................................................10
   (s)    "Option"...............................................................................................10
   (t)    "Participant"..........................................................................................10
   (u)    "Performance Conditions"...............................................................................10
   (v)    "Performance Period"...................................................................................10
   (w)    "Phantom Stock"........................................................................................10
   (x)    "Plan".................................................................................................10
   (z)    "Service"..............................................................................................11
   (aa)   "Service Requirement"..................................................................................11
   (bb)   "Shares"...............................................................................................11
   (cc)   "Subsidiary"...........................................................................................11
13.     Termination or Amendment of Plan.........................................................................11
14.     Change in Control........................................................................................11
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                                   HPSC, INC.

                     2002 SUPPLEMENTAL STOCK INCENTIVE PLAN

         1. PURPOSE; RESTRICTIONS. The purpose of this HPSC, Inc. 2002
Supplemental Stock Incentive Plan (the "Plan") is to advance the interests of
HPSC, Inc., a Delaware corporation (the "Company"), and of its shareholders by
strengthening the ability of the Company to attract, retain and motivate key
employees, directors, consultants and other individual contributors of or to the
Company or any present or future Subsidiary(1) of the Company (the Company and
all such Subsidiaries shall be collectively referred to as the "Company Group")
by providing such employees, directors, consultants and other individual
contributors with an opportunity to purchase or receive as bonuses stock of the
Company, thereby permitting such persons to share in the Company's success while
aligning their interests with those of the Company's shareholders. It is
intended that this purpose will be effected by granting non-statutory stock
options ("Non-Qualified Options" or "Options") which are not intended to meet
the requirements of Section 422 of the Code and which are intended to be taxed
upon exercise under Section 83 of the Code.

         2. EFFECTIVE DATE. This Plan was adopted by the Board of Directors on
May 14, 2002 which is also the Effective Date of the Plan. The Compensation
Committee shall determine the effective date of each option granted under this
Plan, and any such effective date may be any date prior to the termination of
the Plan, including any date prior to the Effective Date.

         3. STOCK COVERED BY THE PLAN. Subject to adjustment as provided in
Sections 9 and 10 below, the shares that may be made subject to Options under
this Plan ("Shares") shall not exceed in the aggregate 200,000 shares of the
common stock, $.01 par value, of the Company ("Common Stock"). Notwithstanding
the foregoing, additional shares of Common Stock may be issued and sold pursuant
to Nonqualified Options in amounts up to the number of shares of Common Stock
(i) underlying any restricted stock award or option granted under the 1998 Plan
which shall terminate or expire without being fully exercised, but only to the
extent such shares remained available for purchase or award at the time of such
termination or expiration, or (ii) withheld or reacquired by the Company
pursuant to withholding, payment, forfeiture or repurchase rights under the 1998
Plan. Any Shares subject to an Option which for any reason expires or is
terminated unexercised as to such Shares and any Shares withheld or reacquired
by the Company pursuant to withholding, payment, forfeiture or a repurchase
right hereunder may again be the subject of an Option under the Plan. The Shares
purchased or issued under the Plan may, in whole or in part, be either
authorized but unissued Shares or issued Shares reacquired by the Company.

         4. ADMINISTRATION. This Plan shall be administered by the Compensation
Committee of the Board (the "Committee"); provided that each of the members of
the Committee shall be a person who in the opinion of counsel to the Company is
(i) a "Non-

--------
(1) Capitalized terms not otherwise defined herein are defined in Section 12
below.
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Employee Director" as such term is used in Rule 16b-3 promulgated under the
Exchange Act and (ii) an "outside director" as such term is used in regulation
Section 1.162.27(e)(3) under Section 162(m) of the Code. The Committee shall
have authority, subject to the express provisions of the Plan, to construe the
Plan and the respective Options and related agreements, to prescribe, amend and
rescind rules and regulations relating to the Plan, to determine, within the
limits of the Plan, the amounts, times, forms, terms, conditions and status (as
Incentive or Nonqualified Options) of the respective Options and related
agreements, and to make all other determinations in the judgment of the
Committee necessary or desirable for the administration of the Plan. The
Committee may correct any defect or supply any omission or reconcile any
inconsistency in the Plan or in any Option or related agreement in the manner
and to the extent it shall deem expedient to carry the Plan into effect, and it
shall be the sole and final judge of such expediency.

         The Committee shall have authority to establish guidelines for the
grant of Options to key employees of the Company Group who are not executive
officers of the Company and to authorize the Company's chief executive officer
to recommend the award of Options, within such guidelines, to such eligible
non-executive key employees; PROVIDED, HOWEVER, that such recommendation must be
submitted to the Committee for final approval.

         No member of the Committee and no delegate of the Committee shall be
liable for any action or determination under the Plan taken or made in good
faith.

         5. ELIGIBLE RECIPIENTS; AUTOMATIC GRANTS TO NON-EMPLOYEE DIRECTORS.

         (a) KEY EMPLOYEES, CONSULTANTS AND OTHER INDIVIDUAL CONTRIBUTORS.
Subject to the restrictions of this Plan, Options may be granted to such key
employees, consultants or other individual contributors of or to the Company
Group, including, without limitation, directors of the Company (whether or not
any such director is also an Employee), as are selected by the Committee or
(except as to employees who are Company executive officers) by the Company's
Chief Executive Officer pursuant to Section 4 above (a "Participant").

         (b) NON-EMPLOYEE DIRECTORS. Subject to the restrictions of this Plan,
Nonqualified Options will be granted annually pursuant to this Section 5(b) to
each director of the Company who is a director on the date of grant and who is
not an Employee ("Non-Employee Directors"). Each Non-Employee Director who is
such at the conclusion of any regular annual meeting of the Company's
stockholders while this Plan is in effect and who will continue to serve on the
Board thereafter (a "Director Participant" or, unless the context otherwise
requires, a "Participant") shall receive on such date a Nonqualified Option to
purchase 1,000 Shares (a "Director Option"). Further, each Non-Employee Director
who was not such at the conclusion of the last regular annual meeting of the
Company's stockholders will, on the date that such Non-Employee Director is
elected a director of the Company, automatically be granted a Director Option to
purchase the same number of Shares covered by the last Director Option granted
by the Board. All Director Options granted pursuant to this Section are subject
to adjustment as provided in Section 10 below. Each Director Option shall be
subject to the following terms and conditions:

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                  (i) PRICE. The purchase price per Share payable upon the
exercise of a Director Option shall be one hundred percent (100%) of the Market
Price per Share on the date of grant of the Director Option.

                  (ii) EXERCISE. Each Director Option shall be exercisable for
the full amount or for any part thereof immediately on the date of grant. Any
unexercised portion of a Director Option may be subsequently exercised for the
full amount or for any part thereof at any time and from time to time (until
exhausted) prior to the expiration or other termination of the Option.

                  (iii) EXPIRATION. Each Director Option shall terminate and may
no longer be exercised upon the earliest of (1) ten years after the date of
grant, and (2) immediately upon termination of the Participant's Service for
cause. The Board's good faith determination of whether the termination of a
Director Participant's Service was for cause shall be binding for purposes of
the Plan.

                  (iv) OTHER TERMS. Each Director Option shall be subject to all
other terms of the Plan (including without limitation the terms of Sections 7,
9, 10 and 11) except to the extent that such terms are inconsistent with the
express provisions of this Section 5(b).

         6. DURATION OF THE PLAN. This Plan shall terminate ten years from the
Effective Date hereof, unless terminated earlier pursuant to Section 13 below,
and no Options may be granted or made thereafter.

         7. TERMS AND CONDITIONS OF OPTIONS. Options granted or made under this
Plan shall be evidenced by grant forms or agreements in such form and containing
such terms and conditions as the Committee or (except as to grants and awards to
employees who are Company executive officers) the Committee's delegate shall
determine; provided, however, that such grant forms and agreements shall
evidence among their terms and conditions the following:

                  (a) PRICE. The purchase price per Share payable upon the
exercise of each Option (other than a Director Option) granted or made hereunder
shall be determined by the Committee at the time the Option is granted or made
subject to the following restrictions. The purchase price per Share payable upon
the exercise of each Nonqualified Option granted hereunder shall be not less
than eighty-five percent (85%) of the Market Price per Share on the date of the
grant. No Share shall be issued for less than its par value, if any, paid in
cash, property or services.

                  (b) NUMBER OF SHARES. Each grant or award form or agreement
shall specify the number of Shares to which it pertains.

                  (c) OMITTED.

                  (d) EXERCISE OF OPTIONS. Each Option (other than a Director
Option) shall be exercisable for the full amount or for any part thereof at such
time or at such intervals and in such installments as the Committee (or its
delegate, if applicable) may determine at the time it grants

                                      -3-
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such Option; provided, however, that no Option shall be exercisable with respect
to any Shares later than ten years after the date of the grant of such Option.
Notwithstanding the foregoing, if the Committee so provides at the time of an
Option grant, an outstanding Option shall become immediately exercisable for the
full amount or any part thereof upon the occurrence of a Change in Control of
the Company. In the case of Options that by their terms do not become
immediately exercisable upon a Change in Control, the Committee is authorized,
in its discretion, to provide for the accelerated vesting of such options upon a
Change in Control.

                  An Option shall be exercisable only by delivery of a written
notice to the Company's Treasurer, or any other officer of the Company
designated by the Committee to accept such notices on its behalf, specifying the
number of Shares for which the Option is exercised and accompanied by either (i)
payment or (ii) if permitted by the Committee, irrevocable instructions to a
broker to promptly deliver to the Company full payment in accordance with
Section 7(e)(ii) below of the amount necessary to pay the aggregate exercise
price.

                  (e) PAYMENT. Payment shall be made in full (i) at the time the
Option is exercised, or (ii) promptly after the Participant forwards the
irrevocable instructions referred to in Section 7(d)(ii) above to the
appropriate broker, if exercise of an Option is made pursuant to Section
7(d)(ii) above. Payment shall be made either (I) in cash, (II) by check, (III)
if permitted by the Committee, by delivery or deemed delivery and assignment to
the Company of shares of Company stock which (1) have a fair market value (as
determined by the Committee) equal to the exercise or purchase price and (2)
except to the extent otherwise permitted by the Committee in any instance, have
been owned by the Participant (or other person(s) exercising the Participant's
rights under this Plan) for at least six months prior to the date of delivery or
deemed delivery of such shares, (IV) by a combination of one or more of the
foregoing methods. For purposes of this Section, a deemed delivery of shares
shall mean the offset by the Company of a number of shares subject to the Option
against an equal number of shares of the Company's stock owned by the
Participant.

         Notwithstanding any other provision of this Plan, if an Option would
have a before-tax net value of at least $10,000 to the holder upon exercise,
then the holder of the Option shall be deemed to have exercised the Option in
full (to the extent not previously exercised) on the last day that such Option
is exercisable. Such deemed exercise shall be subject to payment in full of the
exercise price (and all applicable withholding taxes) by any of the methods
permitted pursuant to this Section 7(e) and Section 7(f), but subject to the
discretion of the Committee to require payment in cash if it determines that
payment by other methods is not in the best interests of the Company.

                  (f) WITHHOLDING TAXES; DELIVERY OF SHARES. The Company's
obligation to deliver Shares upon exercise of an Option shall be subject to the
Participant's satisfaction of all applicable federal, state and local income and
employment tax withholding obligations. Without limiting the generality of the
foregoing, the Company shall have the right to deduct from payments of any kind
otherwise due to the Participant any federal, state or local taxes of any kind
required by law to be withheld with respect to any Shares issued upon exercise
of Options.

                                      -4-
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Furthermore, to the extent possible, all federal, state and local tax
withholding required by law shall be satisfied by withholding of vested and
unrestricted Shares or by delivery to the Company of already owned unrestricted
Shares, having a value equal to the amount required to be withheld, as
determined by the Committee. To the extent satisfaction of all required tax
withholding is not possible in the manner specified in the preceding sentence
and to the extent that additional tax withholding is elected by the Participant,
payment of withholding taxes may be made by any of the methods permitted in
Section 7(e) for payment of the exercise or purchase price of an Option, subject
to the discretion of the Committee to require payment in cash if it determines
that payment by other methods is not in the best interests of the Company.

                  (g) TRANSFERABILITY. No Option shall be transferable by the
Participant otherwise than by will or the laws of descent or distribution, and
each Option shall be exercisable during the Participant's lifetime only by the
Participant. Notwithstanding the foregoing, the Board or the Committee, as the
case may be, may grant Nonqualified Options under this Plan that are
transferable (subject to any terms and conditions imposed by the Committee) by
the Participant, either directly or in trust, to one or more members of the
Participant's family or to a trust, a family partnership or other entity for the
exclusive benefit of one or more members of the Participant's family. Following
any transfer permitted pursuant to this paragraph, of which the Participant has
notified the Committee in writing, such Option may be exercised or shall be held
by the transferee(s), subject to all terms and conditions of the Option. For
these purposes, the members of the Participant's family are only the
Participant's: (i) spouse and the lineal descendants of such spouse; (ii) lineal
descendants and the spouses of such lineal descendants; (iii) lineal ancestors
and the spouses of such lineal ancestors; and (iv) siblings and the spouses and
the children of such siblings.

                  (h) TERMINATION OF OPTIONS. Except to the extent the Committee
provides specifically in a grant form or Option agreement for a lesser or
greater period each Option (other than a Director Option) shall terminate and
may no longer be exercised if the Participant ceases for any reason to render
continuous Service, in accordance with the following provisions:

                           (i) if the Participant ceases to render Service for
any reason other than death, Disability or termination for cause, the
Participant may, at any time within a period of three months after the date of
such cessation of Service, exercise the Option to the extent that the Option was
exercisable on the date of such cessation;

                           (ii) if the Participant ceases to render Service
because of termination for cause, the Option shall terminate immediately and may
no longer be exercised on and after the date of such termination for cause;

                           (iii) if the Participant ceases to render Service
because of Disability, the Participant may, at any time within a period of six
months after the date of such cessation of Service, exercise the Option to the
extent that the Option was exercisable on the date of such cessation; and

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                           (iv) if the Participant ceases to render Service
because of death, the Option, to the extent that the Participant was entitled to
exercise it on the date of death, may be exercised within a period of six months
after the Participant's death by the person or persons to whom the Participant's
rights under the Option pass by will or by the laws of descent or distribution;
provided, however, that no Option may be exercised to any extent by anyone after
the date of its expiration; and provided, further, that Options may be exercised
at any time only as to Shares which at such time are available for acquisition
pursuant to the terms of the applicable grant form or agreement.

                  (i) RIGHTS AS STOCKHOLDER. A Participant shall have no rights
as a stockholder with respect to any Shares covered by an Option until the date
of issuance of a stock certificate in the Participant's name for such Shares.

                  (j) FORFEITURE. Any Options, any Shares acquired upon exercise
of an Option and any gain realized upon exercise of any Options (other than, in
each case, a Director Option) may in the discretion of the Committee be subject
to forfeiture to the Company if and to the extent and at the repurchase price,
if any, specifically set forth in the applicable Option grant form or agreement.
Certificates representing Shares subject to such repurchase or forfeiture may be
subject to such escrow and stock legending provisions as may be set forth in the
Option grant form or agreement pursuant to which the Shares were acquired.

                  (k) OMITTED.

                  (l) CONFIDENTIALITY AGREEMENTS. Each Participant shall
execute, prior to or contemporaneously with the grant of any Option hereunder,
the Company's then standard form of agreement, if any, relating to nondisclosure
of confidential information, assignment of inventions and related matters.

                  (m) AGGREGATE LIMITATION. The maximum number of Shares with
respect to which any Options may be granted under the Plan to any individual
during each successive twelve-month period commencing on the Effective Date of
the Plan shall not exceed 200,000 shares.

                  (n) RIGHT TO TERMINATE. Nothing contained in the Plan or in
any Option granted hereunder shall restrict the right of any member of the
Company Group to terminate the employment of any Participant or other Service by
the Participant at any time and for any reason, with or without notice. Nothing
contained in the Plan or in any Option granted hereunder shall give any
Non-Employee Director the right to continue in Service as a director.

                  (o) DEFERRAL

                           (i) Notwithstanding anything herein to the contrary,
a Participant, may elect, at the discretion of, and in accordance with rules
(consistent with the terms of this Plan) which may be established by, the
Committee, to defer delivery of the Shares otherwise receivable upon exercise of
a Nonqualified Option using any of the payment methods permitted by Section

                                      -6-
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7(e) (I) or (II) of this Plan (provided that any such election must apply to all
Shares otherwise receivable upon such exercise of the Option) or Section
7(e)(III) of this Plan, provided such election is irrevocable and is made at
least (i) six months prior to the date that such Option otherwise would expire
and (ii) two months prior to the exercise of such Option. Phantom shares of
Common Stock (the "Phantom Shares") equal in number to the Shares so deferred
shall be credited to an account in the name of the Participant on the books and
records of the Company (a "Deferred Compensation Account") at the date of
exercise. A separate Deferred Compensation Account shall be maintained with
respect to each Option subject to an effective deferral election.

                           (ii) The Phantom Shares shall be entitled to
dividends when, as and if paid generally with respect to shares of Common Stock.
At its election, the Company may (i) pay such dividends to the Participant in
cash when such dividends are paid to the holders of Common Stock or (ii) credit
the Deferred Compensation Account with additional Phantom Shares equal to the
aggregate pre-tax amount of the dividends otherwise payable upon the number of
Phantom Shares then held in the Deferred Compensation Account, based on the
Market Value of the Common Stock on the date of payment of such dividends with
any resulting fractional Phantom Shares rounded up to the next whole Phantom
Share.

                           (iii) The value of a Participant's Deferred
Compensation Account shall be payable in shares of Common Stock in one single
payment or in annual installments over a period not to exceed 10 years or as
otherwise determined by the Committee. At the time Participant makes such
deferral election, the Participant shall elect the form of payment and date for
lump sum payment or commencement of annual payments of the Deferred Compensation
Account, with such date at least one year subsequent to the date of exercise of
the Option, but not later than the date of the Participant's termination of
Service. Notwithstanding any election by an optionee, in the event of Disability
or death of the optionee, the Participant's Deferred Compensation Account shall
be paid within 90 days in the form of shares of Common Stock in a single lump
sum.

                           (iv) Notwithstanding the deferred payment date
elected by the Participant, the Committee may, in its discretion, allow for
early payment of a Participant's Deferred Compensation Account in the event of
an "unforeseeable emergency." For this purpose, an unforeseeable emergency shall
be defined as an unanticipated emergency that is caused by an event beyond the
control of the Participant and that would result in severe financial hardship to
the Participant if early withdrawal were not permitted. Any withdrawal on
account of an unforeseeable emergency must be limited to the amount necessary to
meet the emergency. The above provisions regarding a withdrawal upon an
unforeseeable emergency shall be interpreted in accordance with published
revenue procedures, regulations, releases or interpretations. In addition,
solely for the convenience or other benefit of the Company, Deferred
Compensation Accounts may be distributed on an accelerated basis in the
discretion of the Committee.

                           (v) Participants have the status of general unsecured
creditors of the Company with respect to their Deferred Compensation Accounts,
and such accounts constitute a mere promise by the Company to make payments with
respect thereto.

                                      -7-
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                           (vi) A Participant's right to benefit payments under
this Plan with respect to the Deferred Compensation Accounts may not be
anticipated, alienated, sold, transferred, assigned, pledged, encumbered by the
Participant on the Participant's beneficiary, or attached or garnished by
creditors of the Participant or the Participant's beneficiary and any attempt to
do so shall be void.

         8. CERTAIN RESTRICTIONS ON EXERCISE.

                  (a) In any twelve-month period, the total number of shares
that can be exercised pursuant to options granted hereunder shall not exceed
five percent (5%) of the then-outstanding shares of the Company's common stock,
less the sum of all shares then issuable under the 1998 Plan and any other
non-shareholder approved plans. In any five-year period, the total number of
shares that can be exercised pursuant to options granted hereunder shall not
exceed ten percent (10%) of the then-outstanding shares of the Company's common
stock, less the sum of all shares then issuable under the 1998 Plan and any
other non-shareholder approved plans.

                  (b) In addition to any other limitations on the exercisability
of Options granted hereunder, as provided under Section 7(d) above, the total
number of shares for which each Option may be exercised in any 12-month period
shall not exceed 80% of the total shares underlying such Option. Notwithstanding
the foregoing, if the Board or the Committee determines, in its sole discretion,
that total exercises under the Plan are sufficiently below the limitations set
forth in clause 8(a) above, it may permit exercises above the 80% limit on a
ratable basis.

         9. SUSPENSION OF RIGHTS PRIOR TO A DISSOLUTION, REORGANIZATION, ETC.
Prior to any dissolution, liquidation, merger, consolidation or reorganization
of the Company as to which the Company will not be the surviving corporation, or
the sale or exchange of substantially all of the Common Stock or the sale of
substantially all of the assets of the Company (the "Event"), unless such Event
would constitute a Change in Control of the Company, the Board or the Committee
may decide to terminate each outstanding Option. If the Board or the Committee
so decides, each Option (including Director Options) shall terminate as of the
effective date of the Event, but the Board or the Committee shall suspend the
exercise of all outstanding Options a reasonable time prior to the Event, giving
each person affected thereby not less than fourteen days written notice of the
date of suspension, prior to which date such person may purchase in whole or in
part the Shares otherwise available to him or her as of the date of purchase. If
the Event is not consummated, the suspension shall be removed and all Options
shall continue in full force and effect, subject to their terms.

         10. ADJUSTMENT IN SHARES. Appropriate adjustment shall be made by the
Committee in the maximum number of Shares subject to the Plan and in the number,
kind, and exercise or purchase price of Shares covered by outstanding Options
granted hereunder and in the number and kind of Shares in each Director Option
subsequently granted pursuant to Section 5(b) to give effect to any stock
dividends, stock splits, stock combinations, recapitalizations and other similar

                                      -8-
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changes in the capital structure of the Company after the Effective Date of the
Plan. In the event of a change of the Common Stock resulting from a merger or
similar reorganization as to which the Company is the surviving corporation, the
number and kind of Shares which thereafter may be purchased pursuant to an
Option under the Plan and the number and kind of Shares then subject to Options
granted hereunder and the price per Share thereof shall be appropriately
adjusted in such manner as the Committee may deem equitable to prevent dilution
or enlargement of the rights available or granted hereunder.

         11. INVESTMENT REPRESENTATIONS; TRANSFER RESTRICTIONS. The Company may
require Participants, as a condition of purchasing Shares pursuant to the
exercise of an Option to give written assurances in substance and form
satisfactory to the Company to the effect that such person is acquiring the
Shares for the Participant's own account for investment and not with any present
intention of selling or otherwise distributing the same, and to such other
effects as the Company deems necessary or appropriate (including without
limitation confirmation that the Participant is aware of any applicable
restrictions on transfer of the Shares, as specified in the by-laws of the
Company or otherwise) in order to comply with federal and applicable state
securities laws.

         12. DEFINITIONS.

                  (a) "BOARD" means the Board of Directors of the Company.

                  (b) "CHANGE IN CONTROL" has the meaning defined in Section 14
below.

                  (c) "CODE" means the Internal Revenue Code of 1986, as
heretofore and hereafter amended, and the regulations promulgated thereunder.

                  (d) "COMMITTEE" has the meaning defined in Section 4 above.

                  (e) "COMMON STOCK" has the meaning defined in Section 3 above.

                  (f) "COMPANY" AND "COMPANY GROUP" have the meanings defined in
Section 1 above.

                  (g) "DEFERRED COMPENSATION ACCOUNT" has the meaning defined in
Section 7(o) above.

                  (h) "DIRECTOR OPTION" has the meaning defined in Section 5(b)
above.

                  (i) "DISABILITY" has the meaning defined in Section 22(e)(3)
of the Code.

                  (j) "EFFECTIVE DATE" has the meaning defined in Section 2
above.

                  (k) "EMPLOYEE" means any individual (including an officer of
the Company) who is a common law employee of any member of the Company Group.
Any individual who

                                      -9-
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was an Employee at the start of a leave of absence shall continue to be an
Employee for purposes of this Plan to the extent provided in regulations under
applicable provisions of the Code or to the extent required by the Uniformed
Services Employment and Reemployment Rights Act or other applicable law.

                  (l) "EVENT" has the meaning defined in Section 9 above.

                  (m) "EXCHANGE ACT" means the Securities Exchange Act of 1934,
as heretofore and hereafter amended.

                  (n) "INCENTIVE OPTION" has the meaning defined in Section 1
above.

                  (o) "MARKET PRICE" means the closing price of the Common Stock
as published in the WALL STREET JOURNAL on the relevant date (or if such date is
not a trading date or if no trades took place on such date, then the closing
price for the last previous trading date or the last previous date on which such
a trade occurred, as the case may be); provided that if the closing price of the
Common Stock is no longer reported in the WALL STREET JOURNAL then the Market
Price as of the relevant date shall be as determined by the Board.

                  (p) "1995 PLAN" means the HPSC, Inc. 1995 Stock Incentive
Plan, as adopted March 8, 1995, and amended and restated March 14, 1996.

                  (q) "1998 PLAN" means the HPSC, Inc. 1998 Stock Incentive
Plan, as adopted February 23, 1998, and amended and restated on April 26, 1999.

                  (r) "2000 PLAN" means the HPSC, Inc. 2000 Stock Incentive Plan
as adopted December 13, 1999.

                  (s) "NON-EMPLOYEE DIRECTOR" has the meaning defined in Section
5(b) above.

                  (t) "NONQUALIFIED OPTION" has the meaning defined in Section 1
above.

                  (u) "OPTION" has the meaning defined in Section 1 above.

                  (v) "PARTICIPANT" has the meaning defined in Section 5 above.

                  (w) "PERFORMANCE CONDITIONS" "PARTIAL PERFORMANCE CONDITION"
AND "FULL PERFORMANCE CONDITION" have the meanings defined in Section 7(c)
above.

                  (x) "PERFORMANCE PERIOD" has the meaning defined in Section
7(c) above.

                  (y) "PHANTOM STOCK" has the meaning defined in Section 7(o)
above.

                  (z) "PLAN" has the meaning defined in Section 1 above.

                                      -10-
<Page>

                  (aa) "SERVICE" means the performance of work for one or more
members of the Company Group as an Employee, consultant or other individual
contributor, or service as a Non-Employee Director of the Company.

                  (bb) "SERVICE REQUIREMENT" has the meaning defined in Section
7(c) above.

                  (cc) "SHARES" has the meaning defined in Section 3 above.

                  (dd) "SUBSIDIARY" has the meaning defined in Section 424(f) of
the Code.

         13. TERMINATION OR AMENDMENT OF PLAN. The Board may by written
action at any time terminate the Plan or make such changes in or additions or
deletions to the Plan as it deems advisable without further action on the part
of the stockholders of the Company, provided:

                  (a) that no such termination or amendment shall adversely
affect or impair any then outstanding Option or related agreement without the
consent of the Participant holding such Option or related agreement; and

                  (b) that no such amendment which (i) increases the maximum
number of Shares subject to this Plan (except to the extent provided in Sections
9 and 10), (ii) materially modifies the requirements as to eligibility for
participation in the Plan, or (iii) makes any other change which, pursuant to
the Code or regulations thereunder or Section 16(b) of the Exchange Act and the
rules and regulations thereunder, requires action by the stockholders may be
made without obtaining, or being conditioned upon, stockholder approval.

         With the consent of the Participant affected, the Committee may amend
outstanding Options or related agreements in a manner not inconsistent with the
Plan. The Committee shall have the right to amend or modify the terms and
provisions of the Plan and of any outstanding Incentive Options granted under
the Plan to the extent necessary to qualify any or all such Options for such
favorable federal income tax treatment (including deferral of taxation upon
exercise) as may be afforded incentive stock options under Section 422 of the
Code.

         14. CHANGE IN CONTROL. A change in control of the Company (a "Change in
Control") will occur upon:

         (a) The acquisition by any individual, entity or group (within the
meaning of Sections 13(d)(3) or 14(d)(2) of the Exchange Act) (a "Person") of
beneficial ownership (within the meaning of Rule 13d-3 promulgated under the
Exchange Act) of 20 percent or more of either (i) the then outstanding shares of
the Common Stock or (ii) the combined voting power of the then outstanding
voting securities of the Company entitled to vote generally in the election of
the directors (the "Outstanding Company Voting Securities"); provided, however,
that the following acquisitions shall not constitute a Change in Control: (A)
any acquisition directly from the Company (excluding an acquisition by virtue of
the exercise of a conversion privilege); (B) any acquisition by the Company or
by any corporation controlled by the Company; (C) any

                                      -11-
<Page>

acquisition by any employee benefit plan (or related trust) sponsored or
maintained by the Company or any corporation controlled by the Company; or (D)
any acquisition by any corporation pursuant to a consolidation or merger, if,
following such consolidation or merger, the conditions described in clauses (i),
(ii), and (iii) of paragraph (c) of this Section 14 are satisfied.

         Notwithstanding the foregoing, a Change in Control shall not be deemed
to occur solely because any Person (the "Subject Person") acquired beneficial
ownership of more than the permitted percentage of the then Outstanding Company
Voting Securities as a result of the acquisition of Voting Securities by the
Company which by reducing the number of Voting Securities then outstanding,
increases the percentage of shares beneficially owned by the Subject Person,
provided that if a Change in Control would occur (but for the operation of this
sentence) as a result of the acquisition of Voting Securities by the Company
and, after such share acquisition by the Company, the Subject Person becomes the
beneficial owner of any additional Voting Securities which increases the
percentage of the then Outstanding Company Voting Securities beneficially owned
by the Subject Person, then a Change in Control shall occur;

         (b) Individuals who, as of the date of this Agreement, constitute the
Board (the "Incumbent Board") ceasing for any reason to constitute at least
two-thirds of the Board over any period of 24 consecutive months or less;
provided, however, that any individual becoming a director subsequent to the
date of this Agreement whose election, or nomination for election by the
Corporation's shareholders, was approved by a vote or resolution of at least a
majority of the directors then comprising the Incumbent Board shall be
considered as though such individual were a member of the Incumbent Board, but
excluding, for this purpose, any such individual whose initial assumption of
office occurs as a result of either an actual or threatened election contest (as
such terms are used in Rule 14a-11 of Regulation 14A promulgated under the
Exchange Act) or other actual or threatened solicitation of proxies or consents
by or on behalf of a Person other than the Board;

         (c) Adoption by the Board of a resolution approving an agreement of
consolidation of the Company with or merger of the Company into another
corporation or business entity in each case, unless, following such
consolidation or merger, (i) more than 60 percent of, respectively, the then
outstanding shares of common stock of the corporation resulting from such
consolidation or merger and/or the combined voting power of the then outstanding
voting securities of such corporation or business entity entitled to vote
generally in the election of directors (or other persons having the general
power to direct the affairs of such entity) is then beneficially owned, directly
or indirectly, by all or substantially all of the individuals and entities who
were the beneficial owners, respectively, of the Common Stock and Outstanding
Company Voting Securities immediately prior to such consolidation or merger in
substantially the same proportions as their ownership, immediately prior to such
consolidation or merger, of the Common Stock and/or Outstanding Company Voting
Securities, as the case may be, (ii) no Person (excluding the Company, any
employee benefit plan (or related trust) of the Company or such corporation or
other business entity resulting from such consolidation or merger and any Person
beneficially owning, immediately prior to such consolidation or merger, directly
or indirectly, 35 percent or more of the Common Stock and/or Outstanding Company
Voting Securities, as the case may be) beneficially owns, directly or
indirectly, 35 percent or more of,

                                      -12-
<Page>

respectively, the then outstanding shares of common stock of the corporation
resulting from such consolidation or merger or the combined voting power of the
then outstanding voting securities of such corporation or business entity
entitled to vote generally in the election of its directors (or other persons
having the general power to direct the affairs of such entity) and (iii) at
least two-thirds of the members of the board of directors (or other group of
persons having the general power to direct the affairs of the corporation or
other business entity) resulting from such consolidation or merger were members
of the Incumbent Board at the time of the execution of the initial agreement
providing for such consolidation or merger; provided that any right which shall
vest by reason of the action of the Board pursuant to this paragraph (c) shall
be divested, with respect to any such right not already exercised, upon (A) the
rejection of such agreement of consolidation or merger by the stockholders of
the Company or (B) its abandonment by either party thereto in accordance with
its terms; or

         (d) Adoption by the requisite majority of the whole Board, or by the
holders of such majority of stock of the Company as is required by law or by the
Certificate of Incorporation or By-Laws of the Company as then in effect, of a
resolution or consent authorizing (i) the dissolution of the Company or (ii) the
sale or other disposition of all or substantially all of the assets of the
Company, other than to a corporation or other business entity with respect to
which, following such sale or other disposition, (A) more than 60 percent of,
respectively, the then outstanding shares of common stock of such corporation
and/or the combined voting power of the outstanding voting securities of such
corporation or other business entity entitled to vote generally in the election
of directors (or other persons having the general power to direct the affairs of
such entity) is then beneficially owned, directly or indirectly, by all or
substantially all of the individuals and entities who were the beneficial
owners, respectively, of the Common Stock and Outstanding Company Voting
Securities immediately prior to such sale or other disposition in substantially
the same proportions as their ownership, immediately prior to such sale or other
disposition, of the Common Stock and/or Outstanding Company Voting securities,
as the case may be, (B) no Person (excluding the Company and any employee
benefit plan (or related trust) of the Company or such corporation or other
business entity and any Person beneficially owning, immediately prior to such
sale or other disposition, directly or indirectly, 35 percent or more of the
Common Stock and/or Outstanding Company Voting Securities, as the case may be)
beneficially owns, directly or indirectly, 35 percent or more of, respectively,
the then outstanding shares of common stock of such corporation and/or the
combined voting power of the then outstanding voting securities of such
corporation or other business entity entitled to vote generally in the election
of directors (or other persons having the general power to direct the affairs of
such entity) and (C) at least two-thirds of the members of the board of
directors (or other group of persons having the general power to direct the
affairs of such corporation or other entity) were members of the Incumbent Board
at the time of the execution of the initial agreement or action of the Board
providing for such sale or other disposition of assets of the Company; provided
that any right which shall vest by reason of the action of the Board or the
stockholders pursuant to this paragraph (d) shall be divested, with respect to
any such right not already exercised, upon the abandonment by the Company of
such dissolution, or such sale or other disposition of assets, as the case may
be.

                                      -13-
<Page>

         A Change in Control shall not occur upon the mere reincorporation of
the Company in another state.

                                      -14-<Page>

                                                                    EXHIBIT 10.2

                                CUSTODY AGREEMENT

                            Dated as of June 25, 2002

                  HPSC BRAVO FUNDING, LLC, a Delaware limited liability company
(the "LLC"), TRIPLE-A ONE FUNDING CORPORATION, a Delaware corporation
("Triple-A"), CAPITAL MARKETS ASSURANCE CORPORATION, a New York Stock insurance
company ("CapMAC"), as Administrative Agent (the "Administrative Agent") and as
Collateral Agent for the benefit of Triple-A and certain other parties (in such
capacity, the "Collateral Agent") under the "Triple-A Purchase Agreement"
referred to below and IRON MOUNTAIN INFORMATION MANAGEMENT, INC., a Delaware
corporation ("Iron Mountain"), agree as follows:

                  PRELIMINARY STATEMENTS.

                  (1) The Collateral Agent has requested that Iron Mountain act
as custodian (the "Custodian") for the purposes of receiving and holding all
Contracts which have generated the Receivables transferred by the LLC to
Triple-A pursuant to that certain Amended and Restated Lease Receivables
Purchase Agreement dated as of March 31, 2000 (as amended, restated or otherwise
modified from time to time, the "Triple-A Purchase Agreement"), among the LLC,
Triple-A, HPSC, Inc., a Delaware corporation, ("HPSC") and CapMAC, and which
Receivables were acquired by the LLC from HPSC pursuant to that certain Amended
and Restated Purchase and Contribution Agreement dated as of March 31, 2000 (as
amended, restated or otherwise modified from time to time, the "Purchase
Agreement") between the LLC and HPSC. Capitalized terms which are used herein
and not otherwise defined herein shall have the respective meanings ascribed
thereto in the Triple-A Purchase Agreement.

                  (2)  Iron Mountain is willing to act in such capacity as
Custodian.

                  NOW, THEREFORE, the parties agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

                  SECTION 1.01. DEFINITIONS. As used herein, the following terms
shall have the meanings assigned thereto below:

                  "AUTHORIZED EMPLOYEE" means any one of (i) Andrew Laterza,
Mike Alter and Richard Langberg and (ii) any other employee of the Collateral
Agent who is hereafter authorized in writing by the Collateral Agent (which
authorization must be delivered to the LLC and to the Custodian) to act as an
Authorized Employee of the Collateral Agent hereunder, PROVIDED, HOWEVER, that
the Collateral Agent may send a notice to the LLC and the Custodian informing
them of any Authorized Employee who ceases to be an Authorized Employee.
<Page>

                  "BUSINESS DAY" means any day other than a Saturday, Sunday or
public holiday or the equivalent for banks in New York and Massachusetts.

                  "CONTRACT" means an original executed financing contract,
promissory note or other document, as applicable, between the LLC (as assignee
of HPSC or otherwise) and an Obligor (as that term is defined in the Triple-A
Purchase Agreement) which has generated a Receivable sold or otherwise
transferred by HPSC to the LLC pursuant to the Purchase Agreement.

                  "RECEIVABLE" has the meaning assigned to that term in the
Triple-A Purchase Agreement.

                  "TERMINATION DATE" means that date when the Collateral Agent
notifies the Custodian in writing that the Triple-A Purchase Agreement is
terminated and all amounts payable under the Triple-A Purchase Agreement have
been paid.

                                   ARTICLE II

                                    Custodian

                  SECTION 2.01. DESIGNATION AND APPOINTMENT OF IRON MOUNTAIN AS
CUSTODIAN. Iron Mountain, in its corporate capacity, is hereby designated as,
and hereby agrees to perform the duties and obligations of, the Custodian under,
and as such duties and obligations are set forth in, this Agreement. Iron
Mountain shall serve as Custodian from the date hereof until the Termination
Date, or its earlier resignation or removal pursuant to Section 3.05 hereof.

                  SECTION 2.02. DUTIES OF THE CUSTODIAN. At all times that Iron
Mountain shall be the Custodian, it shall discharge its duties of receiving and
holding the Contracts in accordance with this Agreement. As to any matters not
expressly provided for by this Agreement but relating to the Custodian's duties
hereunder, the Custodian shall not be required to act except upon the written
instructions of the Collateral Agent executed by an Authorized Employee (and the
Custodian shall be fully protected in so refraining from acting absent such
instructions); PROVIDED, HOWEVER, that the Custodian shall not be required to
take any action which is contrary to this Agreement or applicable law.

                  SECTION 2.03. ADDITION OF CONTRACTS. Any Contract that has
generated a Receivable shall be sent to, and held by, the Custodian pursuant to
the terms hereof. Prior to the sale or other transfer of any such Receivable to
Triple-A pursuant to the Triple-A Purchase Agreement, the Contract related
thereto shall be delivered by the LLC (or by HPSC at the direction of the LLC)
to the Custodian. Further, on the twenty-fifth day of each calendar month (the
Business Day immediately following the twenty-fifth day of each calendar month
if such twenty-fifth day is not a Business Day), the Custodian shall send to the
Collateral Agent a list of all Contracts that have been received by the
Custodian during the period from the date of the latest list to the date of such
list (by facsimile or otherwise) in substantially the form of EXHIBIT A attached
hereto. The first list shall include all Contracts the Custodian has in
possession and shall be sent to the Collateral Agent on the twenty-fifth day of
the month in which this Custody

                                       2
<Page>

Agreement is executed by both parties; provided, however, that if execution does
not occur until after the twenty-fifth of the month and prior to the first of
the subsequent month, the first list will be sent to the Collateral Agent on the
twenty-fifth day of the month immediately following the month in which the
execution occurs.

                  SECTION 2.04. NO FURTHER OBLIGATIONS. The Custodian shall have
no obligation to review the contents of any Contract.

                  SECTION 2.05.  REMOVAL OF CONTRACTS.

                  (i) the Collateral Agent shall have unlimited rights, upon
written notice (by facsimile or otherwise) executed by an Authorized Employee
and delivered to the Custodian, with a copy sent to the LLC, to remove any or
all of the Contracts from the Custodian;

                  (ii) the LLC may cause the Custodian to release certain
Contracts held by the Custodian to the LLC or (if so directed by the LLC) to
HPSC in each case as provided by and in accordance with the Triple-A Purchase
Agreement; PROVIDED THAT, upon the Collateral Agent's written notice, the LLC's
rights, if any, to cause the Custodian to release Contracts shall be terminated
and the Custodian shall not release any Contract without the Collateral Agent's
written instructions to release such Contract, provided, further that the
Custodian shall have no obligation to inquire whether any request by the LLC is
in accordance with the Triple-A Purchase Agreement;

                  (iii) other than as described in this SECTION 2.05., the
Custodian shall have no authority to release any Contract to any Person; and

                  (iv) the Custodian shall send to the Collateral Agent on the
twenty-fifth day of each calendar month (the Business Day immediately following
the twenty-fifth day of each calendar month if such twenty-fifth day is not a
Business Day) (by facsimile or otherwise) in substantially the form of EXHIBIT
B, a list of all Contracts that have been removed from the Custodian or returned
during the period from the date of the latest list (or the date hereof, in the
case of the first list) to the date of such list.

                  SECTION 2.06. CONTRACTS HELD BY THE CUSTODIAN. All Contracts
coming into the possession of the Custodian, (a) shall be held by it for the
benefit of the Collateral Agent in secure facilities, equipped with fire
detection and fire suppression features, all in accordance with customary
standards for such custody. The Custodian shall hold all Contracts at 1 Old
Forge Hill Road, Franklin, MA 02038 or at any other facility specified in
writing to the Collateral Agent, located in the Commonwealth of Massachusetts,
(b) shall be held by it as agent on behalf of the Collateral Agent for the
purposes of perfecting the security interest therein of the Collateral Agent,
(c) shall, upon reasonable prior written notice from the Collateral Agent, be
made available to the Collateral Agent on any Business Day during normal
business hours, for inspection or otherwise, and (d) shall be held in a manner
which allows such Contracts to be released within five Business Days following
the Custodian's receipt of notice pursuant to the terms set forth in SECTION
2.05. above.

                  SECTION 2.07. NO LIENS OR ENCUMBRANCES ON CONTRACTS. In order
to provide security to the Custodian for any overdue payments which hereafter
may be owed to the

                                       3
<Page>

Custodian by the LLC, the LLC will post a $1000.00 security deposit on its
account ("Security Deposit"). The Custodian hereby agrees not to assert any
statutory or possessory liens or encumbrances of any kind with respect to the
Contracts held by it, and hereby waives all such liens and encumbrances;
provided however that in the event the LLC is in arrears of its payment to the
Custodian by forty-five (45) days, the Custodian shall notify the Collateral
Agent of such delinquency and the Collateral Agent may instruct the Custodian to
use the Security Deposit to cure the delinquency. If the Collateral Agent fails
to instruct the Custodian to use the Security Deposit and the delinquency is not
cured within sixty (60) days of the missed payment, the Custodian shall maintain
its rights to assert statutory or possessory liens or encumbrances of any kind
with respect to the Contracts held by it.

                  SECTION 2.08. REPORTS AND AUDITS. From time to time until the
Termination Date, the Collateral Agent may conduct audits (at the expense of the
LLC) on the Contracts held by the Custodian by giving notice of an audit no less
than two (2) Business Days before the audit. The Custodian shall cooperate with
the Collateral Agent in connection with such audits.

                  SECTION 2.09. CUSTODIAN'S LIABILITY. The Custodian shall have
no liability whatsoever by reason of any error of judgment for any act done or
step taken or omitted by it, or for any mistake of fact or law for anything
which it may do or refrain from doing in connection herewith, unless caused by
or arising out of its own negligence or willful misconduct. Furthermore, the LLC
agrees to hold the Custodian harmless from any and all losses, expenses, damages
and costs (including, without limitation, attorneys fees) incurred by either as
a result of its execution of, or performance of its obligations under, this
Agreement, unless however, such loss, expense, damage or cost is caused by the
negligence or willful misconduct of Custodian or its employees or agents. In the
event of loss, damage or destruction of a contract deposited with Custodian due
to Custodian's negligence or willful misconduct, the Custodian's liability shall
be limited to $1.00 per contract lost, damaged or improperly destroyed.

                  The Custodian:

                  (a)      shall not be obligated to take any legal action
                           hereunder that in its reasonable judgment involve any
                           expense or liability unless it has been furnished
                           with reasonable indemnity by the LLC, Collateral
                           Agent or other person;

                  (b)      may rely on and shall be protected in acting in good
                           faith upon the written instructions of the Collateral
                           Agent and the Authorized Employees;

                  (c)      may consult with Custodian's in-house counsel or any
                           other counsel with regard to legal questions arising
                           out of or in connection with this Agreement, and the
                           advice or opinion of such counsel shall be full and
                           complete authorization and protection in respect of
                           any action taken, omitted or suffered by the
                           Custodian in reasonable reliance, in good faith, and
                           in accordance therewith; and

                                       4
<Page>

                  (d)      may execute any of the rights or powers hereunder or
                           perform any duties hereunder either directly or
                           through agents or attorneys, provided that the
                           execution of such trusts or powers by any such agents
                           or attorneys shall not diminish, or relieve Custodian
                           of, responsibility therefore to the same degree as if
                           Custodian itself had executed such trusts or powers.

                  SECTION 2.10. INDEMNIFICATION. The Custodian hereby agrees to
indemnify and hold the LLC, CapMAC, and Triple-A, their shareholders, directors,
officers, employees, agents, successors and assigns, harmless from and against
and reimburse them for any and all losses, claims, demands, obligations,
damages, injuries (to persons, property or natural resources), penalties, stamp
or similar taxes, suits, causes of action, or other legal proceedings,
judgments, costs, liabilities and/or expenses, including reasonable attorneys'
and agents' fees and expenses, incurred by the LLC, CapMAC and Triple-A of
whatever kind or nature regardless of their merit, demanded, asserted or claimed
against the LLC, CapMAC, or Triple-A and resulting solely from Custodian's
negligence, willful misconduct or failure to perform its obligations hereunder,
or a breach of any representation or warranty contained in this Agreement. The
LLC hereby agrees to indemnify and hold Custodian, its directors, officers,
employees, agents, successors and assigns, harmless from and against any and all
losses, claims, demands, damages, causes of action, or other legal proceedings,
judgments, costs, liabilities and/or expenses, including reasonable attorneys'
and agents fees and expenses incurred by Custodian of whatever kind or nature
regardless of their merit, demanded, asserted or claimed against the Custodian
and resulting from the respective party's negligence, willful misconduct, or
failure to perform its obligations hereunder or other breach by the LLC under
this Agreement. The foregoing indemnifications set forth in this Section 2.10
shall survive any termination of this Agreement.

                  SECTION 2.11 NO LIMITATION. Notwithstanding anything to the
contrary in this Agreement, Custodian's limitation of liability of one dollar
($1.00) per contract shall apply solely to Custodian's liability for loss of,
damage to or improper destruction of deposited contracts. Damages to the LLC,
CapMAC or Triple A for which Custodian is responsible, that are other than from
the liability for loss of, damage to, or improper destruction of Contracts (i.e.
breach of confidentiality, unauthorized release of Contracts, personal or
property damage related to property other than the deposited contracts) are not
limited to one dollar ($1.00) for each contract deposited with Custodian, and
Custodian hereby agrees that it will be liable for the full amount of such
damages incurred.

                                   ARTICLE III

                                  MISCELLANEOUS

                  SECTION 3.01. FEES AND EXPENSES OF THE CUSTODIAN. The LLC
agrees to pay the Custodian the fees described on EXHIBIT C attached hereto
(collectively, the "Custodian Fee"). Furthermore, no party hereto shall pay any
other fees, costs or expenses to the Custodian with respect to the Custodian's
obligations and duties created herein other than the Custodian Fee. The
Custodian shall have the right to terminate its obligations under this Agreement
in the

                                       5
<Page>

event that the LLC fails to pay the Custodian Fee within thirty (30) days after
receiving notice that any portion of the Custodian Fee is overdue, provided that
the Custodian shall provide notice of its intention to terminate to the
Collateral Agent, which shall have thirty (30) days to pay amounts due to
Custodian hereunder, in which case this Agreement shall continue in effect.

                  SECTION 3.02. AMENDMENTS, ETC. No amendment or waiver of any
provision of this Agreement nor consent to any departure therefrom, shall in any
event be effective unless the same shall be in writing and signed by each party
hereto, and then such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given.

                  SECTION 3.03. NOTICES, ETC. All notices and other
communications provided for hereunder shall be in writing (including telex
communication and communication by facsimile copy) and mailed, telexed,
transmitted or delivered, as to each party hereto, at its address set forth
under its name on the signature pages hereof or at such other address as shall
be designated by such party in a written notice to the other parties hereto. All
such notices and communications shall be effective, upon receipt, or in the case
of delivery by mail, five days after being deposited in the mails, or in the
case of notice by telex, when telexed against receipt of answer back, or in the
case of notice by facsimile copy, when verbal communication of receipt is
obtained, in each case addressed as aforesaid. Notwithstanding the foregoing, in
the event of delivery of a notice pursuant to Section 2.05 (ii) terminating the
LLC's right to direct release of Contracts, a copy of such notice shall be
delivered to Iron Mountain Information Management, 745 Atlantic Avenue, Boston,
Massachusetts 02111, Attention: Legal Department.

                  SECTION 3.04. BINDING EFFECT; ASSIGNABILITY; TERM. This
Agreement shall be binding upon and inure to the benefit of the Collateral
Agent, the LLC, Triple-A, the Administrative Agent and the Custodian and their
respective successors and permitted assigns and no other parties shall have any
rights in respect of, or be third-party beneficiaries under, this Agreement. The
Collateral Agent and Triple-A may assign at any time their respective rights and
obligations hereunder and interests herein without the consent of the LLC or the
Custodian; provided that the Custodian shall not be required to respond to any
substitute entity serving as Collateral Agent unless the Custodian receives
written notice of the assignment by the Collateral Agent and assumption by the
assignee, of Collateral Agent's rights and responsibilities, hereunder, together
with the designation of replacement authorized employees. This Agreement shall
create and constitute the continuing obligations of the parties hereto in
accordance with its terms, and shall remain in full force and effect until the
Termination Date. The Custodian may not assign any of its rights, duties and
obligations hereunder or any interest herein without the prior written consent,
executed by an Authorized Employee, of the Collateral Agent.

                  SECTION 3.05. RESIGNATION AND REMOVAL. The Custodian may
resign at any time by giving written notice thereof to the Collateral Agent not
less than 60 days prior to the effective date of such resignation. The Custodian
may be removed by the Collateral Agent at any time, with or without cause, by
the Collateral Agent giving written notice thereof to the Custodian not less
than thirty days prior to the effective date of such removal. Upon any such
resignation or removal, the Collateral Agent shall have the right to appoint a
successor Custodian, PROVIDED, HOWEVER, that the LLC shall have consented to
such successor Custodian, which consent shall not be unreasonably withheld. Any
such successor shall, upon its

                                       6
<Page>

acceptance thereof, succeed to and become vested with all the rights, powers,
privileges and duties of the retiring Custodian, and the retiring Custodian
shall be discharged from its duties and obligations as Custodian under this
Agreement; provided that the retiring Custodian shall transfer all contracts and
related records to the successor Custodian or as otherwise instructed by the
Collateral Agent. Furthermore, the Collateral Agent may, in its sole discretion,
instruct the LLC to find a successor Custodian and the LLC should, within thirty
days of such instruction, find a successor Custodian and enter into a separate
custody agreement with such successor. The Collateral Agent may require that
such new custody agreement be different from this Agreement and shall be
satisfactory to the Collateral Agent in its sole discretion; provided, however,
the LLC may enter into a custody agreement with Fleet National Bank (or any
other national banking association with nationally recognized reputation and
creditworthiness) in terms substantially the same as that certain Custodial
Agreement dated as of January 31, 1995 (as amended from time to time) among the
LLC, the Collateral Agent, Triple-A and Fleet National Bank.

                  SECTION 3.06. GOVERNING LAW. This Agreement shall be governed
by, and construed in accordance with, the internal laws (as opposed to conflict
of laws provisions) of the Commonwealth of Massachusetts.

                  SECTION 3.07. EXECUTION IN COUNTERPARTS; SEVERABILITY. This
Agreement may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which when taken together shall constitute one and
the same agreement. In case any provision in or obligation under this Agreement
shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or of
such provision or obligation in any other jurisdiction, shall not in any way be
affected or impaired thereby.

                  SECTION 3.08. BANKRUPTCY PROCEEDINGS. No party to this
Agreement shall or will institute or join any other person or entity in
instituting against the LLC or Triple-A any case pursuant to Title 11 of the
United States Code, or any similar case under applicable state or federal law
for debts owed under this Agreement prior to the date which is one year and one
day after all obligations of LLC to Triple-A or CapMAC have been paid in full
(or, in the case of Triple-A, after all commercial paper notes of Triple-A have
been paid in full).

                                       7
<Page>

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

                                       HPSC BRAVO FUNDING, LLC

                                       By /s/ Rene Lefebvre
                                          -----------------------------------
                                          Title:  Manager
                                          Sixty State Street, 35th Floor
                                          Boston, MA 02109-1803
                                          Telecopy No. 617-723-4786

                                       TRIPLE-A ONE FUNDING CORPORATION
                                       By Capital Markets Assurance Corporation,
                                       its Attorney-in-Fact

                                       By /s/ Andrew Laterza
                                          -----------------------------------
                                          Title:  Vice President
                                          113 King Street
                                          Armonk,  NY  10504
                                          Attention:  Andrew Laterza
                                          Telecopy No. 914-765-3810

                                       CAPITAL MARKETS ASSURANCE
                                       CORPORATION
                                           as Administrative Agent and as
                                           Collateral Agent

                                       By /s/ Andrew Laterza
                                          -----------------------------------
                                          Title:  Vice President
                                          113 King Street
                                          Armonk,  NY  10504
                                          Attention:  Andrew Laterza
                                          Telecopy No. 914-765-3810

                                       IRON MOUNTAIN INFORMATION
                                       MANAGEMENT, INC.

                                       By /s/ Garry B. Watzke
                                          -----------------------------------
                                           Title:  Vice President
                                           745 Atlantic Avenue
                                           Boston, MA 02111
                                           Attention:    Garry B. Watzke
                                            Telecopy No. 617-350-7881

                                       8
<Page>

                                    EXHIBIT A

                              __________ __, 200__

Capital Markets Assurance Corporation
113 King Street
New York, NY 10504
Attention: __________

                  RE: HPSC BRAVO FUNDING LLC - CONTRACTS RECEIVED
                      --------------------------------------------

Gentlemen:

We are sending this letter to you pursuant to Section 2.03. of that certain
Custodial Agreement dated as of June 25, 2002 among HPSC Bravo Funding, LLC, a
Delaware limited liability company, Triple-A One Funding Corporation, a Delaware
corporation, Capital Markets Assurance Corporation, a New York stock insurance
company, as Collateral Agent and Iron Mountain Information Management, Inc.
Please see attached for the listing of all Contracts that have been received.

                                               IRON MOUNTAIN INFORMATION
                                               MANAGEMENT, INC.

                                               By:__________________
                                               [Title]
<Page>

                                    EXHIBIT A

                                     [DATE]

<Table>
<Caption>
              (File number)             (Name)
-----------------------------------------------------------------------------------------------------------------------
    COUNT        FILE DESCRIPTION 1         FILE DESCRIPTION 2         FILE DESCRIPTION 3         FILE RECEIPT DATE
    -----        ------------------         ------------------         -------------------        -----------------
-----------------------------------------------------------------------------------------------------------------------
    <S>          <C>                        <C>                        <C>                        <C>
            1
-----------------------------------------------------------------------------------------------------------------------
            2
-----------------------------------------------------------------------------------------------------------------------
            3
-----------------------------------------------------------------------------------------------------------------------
            4
-----------------------------------------------------------------------------------------------------------------------
            5
-----------------------------------------------------------------------------------------------------------------------
            6
-----------------------------------------------------------------------------------------------------------------------
            7
-----------------------------------------------------------------------------------------------------------------------
            8
-----------------------------------------------------------------------------------------------------------------------
            9
-----------------------------------------------------------------------------------------------------------------------
           10
-----------------------------------------------------------------------------------------------------------------------
           11
-----------------------------------------------------------------------------------------------------------------------
           12
-----------------------------------------------------------------------------------------------------------------------
           13
-----------------------------------------------------------------------------------------------------------------------
           14
-----------------------------------------------------------------------------------------------------------------------
           15
-----------------------------------------------------------------------------------------------------------------------
           16
-----------------------------------------------------------------------------------------------------------------------
           17
-----------------------------------------------------------------------------------------------------------------------
           18
-----------------------------------------------------------------------------------------------------------------------
           19
-----------------------------------------------------------------------------------------------------------------------
           20
-----------------------------------------------------------------------------------------------------------------------
</Table>
<Page>

                                    EXHIBIT B

                               __________ __, 20__

Capital Markets Assurance Corporation
885 Third Avenue
New York, N.Y. 10022
Attention: __________

                  RE: HPSC BRAVO FUNDING, LLC - CONTRACTS REMOVED AND RETURNED
                      --------------------------------------------------------

Gentlemen:

We are sending this letter to you pursuant to Section 2.05. of that certain
Custodial Agreement dated as of June 25, 2002 among HPSC Bravo Funding, LLC, a
Delaware limited liability company, Triple-A One Funding Corporation, a Delaware
corporation, Capital Markets Assurance Corporation, a New York stock insurance
company, as Collateral Agent and Iron Mountain Information Management, Inc.
Please see attached for a listing of all Contracts that have been removed or
returned.

                                     IRON MOUNTAIN INFORMATION MANAGEMENT, INC.

                                          By:__________________
                                             [Title]
<Page>

                                   (OUTGOING)

<Table>
<S>                 <C>             <C>               <C>        <C>                 <C>          <C>                <C>
                    IRON MOUNTAIN                                        PAGE:
                     REFERENCE REPORT SORTED BY CUSTOMER BOX       REPORT DATE:
                      FOR:                   TO:                   REPORT TIME:
                       REFERENCES

             CUST ID:
          REQ DIV ID:
         REQ DEPT ID:

SKP BOX NBR:    REF 1 BOX NBR       RT REQUEST DT     FILE SEQ   FILE DESCRIPTION    DIV ID       RQST DIV ID        ORD NBT
CUSTBOX NBR:    REF 2 BOX NBR          REFILE                    CONTACT             DEPT ID      RQST DEPT ID
                                       DT
</Table>
<Page>

                                   (INCOMING)

<Table>
<S>                 <C>             <C>               <C>        <C>                 <C>          <C>                <C>
                    IRON MOUNTAIN                                        PAGE:
                     RECEIPT REPORT SORTED BY CUSTOMER BOX         REPORT DATE:
                      FOR:                   TO:                   REPORT TIME:
                       REFERENCES

             CUST ID:
          REQ DIV ID:
         REQ DEPT ID:

SKP BOX NBR:    REF 1 BOX NBR       RT REQUEST DT     FILE SEQ   FILE DESCRIPTION    DIV ID       RQST DIV ID        ORD NBT
CUSTBOX NBR:    REF 2 BOX NBR          REFILE  DT                CONTACT             DEPT ID      RQST DEPT ID
</Table>
<Page>

                                    EXHIBIT C
                             Custodian Fee Schedule

This Exhibit C - Custodian Fee Schedule is made part of the Records Management
and Service Agreement between Iron Mountain Records Management, Inc. and HPSC.

Effective Date:          June 1, 2002
District Name:           Boston South
District Number:         02317
Customer Name:           HPSC
Customer Number:         B131L

         STORAGE PRICING

                  Secure space for the storage of records.

                                    $.32 per cubic foot per month

                  STORAGE MINIMUM:

                                        $75.00 per month

                  Storage charges will be billed monthly in advance.

         MANAGEMENT SERVICES PRICING

         Services during normal business hours, Monday through Friday 8:00 a.m.
         to 5:00 p.m., excluding holidays.

         NEW RECORDS (RECEIVING AND ENTRY)--The receipt of additional customer
         records resulting in an increase to the customer storage balance:

         $1.68 per cubic foot

                  RETRIEVALS/REFILES--The temporary retrieval of records from,
                  or return to, storage. (Rush applies to retrievals only):

                                STANDARD     $1.89 per cubic foot
                                STANDARD     $2.84 per file from cubic foot
                                RUSH         $3.78 per cubic foot
                                RUSH         $5.67 per file from cubic foot

                  DESTRUCTION--The preparation, documentation, and physical
                  destruction of records:

                       $2.31 per cubic foot plus retrieval
<Page>

                  PERMANENT WITHDRAWAL--The preparation, documentation, and
                  permanent withdrawal of records:

                       $2.31 per cubic foot plus retrieval

                                    MISCELLANEOUS SERVICES:

                                        LABOR      $35 per hour

                  INDIVIDUAL LIST--Initial data entry of carton or file
                  descriptions (beyond first line):

                                        $.50 per line

                                    SERVICE MINIMUM:

                                        $5.00 per transaction

                  Management services will be billed monthly in arrears.

         TRANSPORTATION PRICING

             DELIVERY

                     NEXT DAY

                         $15.75 per transportation visit, $1.42 per cubic foot
                         Call by 3:00 p.m. for delivery next day by 5:00 p.m.

                     HALF DAY

                         $31.50 per transportation visit, $1.42 per cubic foot
                         Call by 10:00 a.m. for delivery same day by 5:00 p.m.

                     EMERGENCY VISIT (RUSH)

                         $57.40 per transportation visit, $1.42 per cubic foot
                         Delivery within 3 hours of request

                     AFTER HOURS/WEEKENDS/HOLIDAYS

                         $114.80 per transportation visit, $1.42 per cubic foot
                         Delivery within 4 hours of request

             PICKUP

                     ON DEMAND (SCHEDULED WITHIN 48 HOURS OF REQUEST)

                         $15.75 per transportation visit, $1.42 per cubic foot

                  Transportation charges will be billed monthly in arrears.

                  Service activity volumes substantially exceeding customer
                  norms may result in overtime charges with customer
                  authorization.

                  All other services, not specifically listed, will be charged
                  at Iron Mountain's then current rates.

                                       2
<Page>

         COMPUTER AND REPORTING CHARGES

                           Included in the customer's storage rate are the
                           Monthly Supplemental Reports. All other reports
                           (including special sorting and special file listings)
                           are subject to the computer listing charge and/or
                           initial setup, reporting, or download fees, quoted by
                           job scope.

         TERM

                           The term of the Agreement of which this Exhibit C is
                           a part will commence on the Effective Date indicated
                           above and continue until the end of the month that is
                           the 11th month anniversary. Unless notice required by
                           and in conjunction with Section 3.05 of this
                           Agreement is given, or written notice of non-renewal
                           is delivered by either party to the other not less
                           than sixty days prior to expiration date, the
                           Agreement will automatically renew for additional
                           successive one-year terms. Storage prices set forth
                           above shall remain in effect for the first 12 months
                           of this Agreement. Charges for all other services may
                           be adjusted at any time upon 30 days written notice.

                                       3

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