Amendment No. 6 to Amended and Restated Employment Agreement between Concord Camera Corp. and Ira B. Lampert

Summary

This amendment updates the employment agreement between Concord Camera Corp. and Ira B. Lampert, increasing Mr. Lampert's base salary to $900,000 per year effective January 1, 2003. All other terms of the original agreement remain unchanged. Several affiliated companies consent to the amendment and confirm that their guarantees of the company's obligations under the agreement continue in effect.

EX-10.1 3 b324620_ex10-1.txt AMENDMENT NO. 6 Exhibit 10.1 AMENDMENT No. 6, dated February 10, 2003, to the Amended and Restated Employment Agreement dated as of May 1, 1997 as heretofore amended (the "Agreement") by and between CONCORD CAMERA CORP., a New Jersey corporation (the "Company") and IRA B. LAMPERT (the "Executive"). FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby acknowledged, the Agreement is hereby amended as follows: 1. The Base Salary provided for in Section 4 of the Agreement is increased, effective as of January 1, 2003, to $900,000 per year. 2. Except as amended hereby, the Agreement shall continue in full force and effect. IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 6 as of the date first above written. CONCORD CAMERA CORP. By: /s/ Brian F. King --------------------------------------- Brian F. King Senior Executive Vice President /s/ Ira B. Lampert -------------------------------------------- IRA B. LAMPERT Each of the undersigned hereby consents to the execution and delivery of the foregoing Amendment No. 6 and acknowledges that its guaranty of the Company's obligations under the Agreement, as amended, shall continue in full force and effect: CONCORD KEYSTONE SALES CORP. By: /s/ Brian F. King --------------------------------------------- Brian F. King Senior Executive Vice President 1 CONCORD CAMERA ILLINOIS CORP. By: /s/ Brian F. King --------------------------------------------- Brian F. King Senior Executive Vice President CONCORD CAMERA (EUROPE) LIMITED By: /s/ Brian F. King --------------------------------------------- Brian F. King, Director By: /s/ Urs W. Stampfli --------------------------------------------- Urs W. Stampfli, Director CONCORD CAMERA FRANCE SARL By: /s/ Urs W. Stampfli --------------------------------------------- Urs W. Stampfli, Gerant CONCORD CAMERA GMBH By: /s/ Andreas Koenig --------------------------------------------- Andreas Koenig, Manager CONCORD CAMERA (HK) LIMITED By: /s/ Joseph Leonardo --------------------------------------------- Joseph Leonardo, Managing Director 2