Exhibit 10.1
EXTENSION AND AMENDMENT OF TERMS OF EMPLOYMENT
OF
XXX X. XXXXXXXX
WITH
CONCORD CAMERA CORP.
This EXTENSION AND AMENDMENT OF TERMS OF EMPLOYMENT, effective as of
January 1, 2006 (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 to extend the term of the
Agreement for the period 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 EXTENSION. The expiration date 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, 2006" to "January 1, 2007."
3. EFFECT ON AGREEMENT. Except for the Term extension affected by this
Instrument, 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 X. Xxxxxxxx By: /s/ Xxxxx Xxxxxxx
------------------------------------ ---------------------------
Name: Xxx X. Xxxxxxxx Name: Xxxxx Xxxxxxx
Title: COO
Dated: Dec. 21, 2005 Dated: Dec. 21, 2005
