EXHIBIT 10.3
AMENDMENT NO. 2 dated as of January 1, 1999 to Amended and
Restated Employment Agreement dated as of May 1, 1997 (the "Agreement"), between
Concord Camera Corp., a New Jersey corporation (the "Company"), and ▇▇▇ ▇.
▇▇▇▇▇▇▇ (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 following sentence is added at the end of Section 4 of
the Agreement:
Effective January 1, 1999, the Base Salary of Executive
referred to in the first sentence of this section shall be
increased to $650,000.
2. Section 7(b) of the Agreement is hereby amended by adding
the parenthetical expression set forth below immediately after the number
$14,167 in the fifth line of said section:
(increased to $18,333 effective January 1, 1999).
Except as amended hereby, the Agreement shall continue in full
force and effect.
IN WITNESS WHEREOF, the undersigned have executed this
Amendment No. 2 as of the date first above written.
CONCORD CAMERA CORP.
By: /s/ ▇▇▇▇▇▇ ▇. Press
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▇▇▇▇▇▇ ▇. Press, Asst. Secretary
/s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇
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