Amendment No. 6 to Terms of Employment of Gerald J. Angeli with Concord Camera Corp.

Summary

This amendment, effective January 1, 2007, updates the employment agreement between Concord Camera Corp. and Gerald J. Angeli. The main change is an increase in Mr. Angeli's annual salary to $275,000. All other terms of the original employment agreement remain unchanged and in effect.

EX-10.1 2 b416730_ex10-1.txt EXHIBIT 10.1 Exhibit 10.1 AMENDMENT NO. 6 TO TERMS OF EMPLOYMENT OF GERALD J. ANGELI WITH CONCORD CAMERA CORP. This AMENDMENT NO. 6 TO TERMS OF EMPLOYMENT, effective as of January 1, 2007 (this "Instrument"), by and between CONCORD CAMERA CORP. (the "Company") and Gerald J. Angeli ("Employee"). RECITALS A. The Employee is currently employed by the Company pursuant to the Terms of Employment, dated as of April 17, 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. SALARY. The salary, as specified in Section 5 of the Agreement, is increased to $275,000 per annum effective January 1, 2007. 3. 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/ Gerald J. Angeli By: /s/ Ira B. Lampert - ------------------------------- ------------------------------- Name: Gerald J. Angeli Name: Ira B. Lampert Title: Chief Executive Officer Dated: January 8, 2007 Dated: January 5, 2007