Exhibit 10.2
AMENDMENT NO. 5 TO TERMS OF EMPLOYMENT
OF
XXX X. XXXXXXXX
WITH
CONCORD CAMERA CORP.
This AMENDMENT NO. 5 TO TERMS OF EMPLOYMENT, effective as of January 1,
2007 (this "Instrument"), by and between CONCORD CAMERA CORP. (the "Company")
and Xxx X. Xxxxxxxx ("Employee").
RECITALS
A. The Employee is currently employed by the Company pursuant to the
Terms of Employment, dated as of January 1, 2000, as thereafter amended (as
amended, the "Agreement"), between the Company and the Employee.
B. The parties desire to modify the Agreement as set forth herein.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
1. DEFINITIONS. Capitalized terms used but not defined herein have the
meanings assigned to them in the Agreement.
2. TERM. The expiration of the Term of the Agreement, as specified in
Section 3 thereof, is hereby extended for a period of twelve (12) months from
"January 1, 2007" to "January 1, 2008."
3. SALARY. The salary, as specified in Section 5 of the Agreement, is
increased to $275,000 per annum effective January 1, 2007.
4. EFFECT ON AGREEMENT. Except as hereby amended, all of the terms and
conditions set forth in the Agreement are and shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties executed this Instrument as of the date
first set forth above.
EMPLOYEE: CONCORD CAMERA CORP.
/s/ Xxx Xxxxxxxx By: /s/ Xxx X. Xxxxxxx
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Name: Xxx X. Xxxxxxxx Name: Xxx X. Xxxxxxx
Title: Chief Executive Officer
Dated: January 5, 2007 Dated: January 5, 2007
