Exhibit 10.19
AMENDMENT TO OPTION AGREEMENT
Reference is made to the Amended and Restated Option Agreement, dated
as of December 22, 1996 (the "Option Agreement"), between XXX X. XXXXXXX (the
"Optionee") and Concord Camera Corp. ("Concord"), as the same was amended and
restated as of December 22, 1996 in connection with that certain letter
agreement dated September 19, 2002, pursuant to which Option Agreement the
Optionee has an option (the "Option") to purchase 387,000 shares (adjusted to
reflect the two-for-one split of Concord's common stock effected April 14, 2000
and all exercises made before July 31, 2001 under the original option agreement
dated as of December 22, 1996) of Concord's no par common stock (the "Common
Stock").
FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of
which is hereby acknowledged, the Option Agreement is hereby amended, effective
as of February 11, 2003 to permit the Optionee to elect to defer the delivery of
the Common Stock he would acquire pursuant to an exercise of the Option. Any
such deferral will be subject to the terms and conditions of Concord's Deferred
Delivery Plan (the "Plan"), a copy of which has been provided separately, and,
when purchasing Option Shares pursuant to the Plan, the payment provisions of
the Plan will apply instead of the provisions in Section 8 of the Option
Agreement regarding methods for payment of the Purchase Price.
Unless otherwise provided herein, all capitalized terms shall have the
meaning assigned to such terms in the Option Agreement.
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of
the date first above written.
Concord Camera Corp.
By: /s/ Xxxxx X. Xxxx
---------------------------------
Xxxxx X. Xxxx
Senior Executive Vice President
OPTIONEE:
/s/ Xxx X. Xxxxxxx
--------------------------------
Xxx X. Xxxxxxx
