EXHIBIT 10.13
AMENDMENT NO. 2 TO TERMS OF EMPLOYMENT OF
XXXXXX X. XXXXXX
WITH
CONCORD CAMERA CORP.
AMENDMENT No. 2, dated August 12, 2002, to Terms of Employment dated as
of April 17, 2000, amended as of June 11, 2001 (as amended, the "Agreement") by
and between CONCORD CAMERA CORP. (the "Company") and XXXXXX X. XXXXXX (the
"employee").
FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of
which is hereby acknowledged, the Agreement is hereby amended as follows:
1. Section 16 of the Agreement is deleted and replaced in its entirety
with the following:
"16) Confidentiality and Intellectual Property, Non-Compete; Code
of Conduct
Annexed hereto as Exhibits A and B, respectively, are
provisions applicable to the employee which are incorporated
herein by reference and are part of this Agreement. As
consideration for the covenants of employee set forth in
Exhibit A, the Company hereby employs or continues to employ
employee and employee hereby accepts employment or continued
employment upon the terms and conditions contained herein.
The employee acknowledges and agrees that the provisions set
forth in Exhibits A and B do not affect the Company's
ability to terminate the employee at any time with or
without cause. If a provision set forth in this Term Sheet
conflicts with a provision set forth in one or both of the
exhibits, then the provisions of this Term Sheet shall
govern. The obligations set forth in Exhibits A and B shall
survive any termination of the employee's employment and/or
any termination or expiration of this Agreement.
In the event the employee fails to comply with any of the
terms or conditions of Exhibit A or B (as same may be modified
in this Term Sheet), all stock options granted by Concord,
pursuant to this Agreement or otherwise, are thereby forfeited
regardless of whether such options have vested."
2. The previous Exhibits A and B (dated January 20, 2000) and C (dated
June 2, 1999) are hereby deleted and replaced in their entirety
with the Exhibit A (dated February 12, 2001) and Exhibit B (dated
August 10, 2000) attached hereto.
3. Unless otherwise provided herein, all capitalized terms shall have
the meaning assigned to such terms in the Agreement.
4. The foregoing amendments are effective as of April 17, 2000.
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5. Except as hereby amended, the Agreement shall continue in full
force and effect.
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of
the date first above written.
EMPLOYEE: CONCORD CAMERA CORP.
/s/ Xxxxxx X. Xxxxxx By: /s/ Xxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxx Xxxxx X. Xxxxxxx
Executive Vice President and
Director of Worldwide Operations
Date: August 12 '02 Date: 8-16-02
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