Exhibit 10.27
AMENDMENT No. 3, dated as of April 19, 2000, 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 XXX X. XXXXXXX (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 hereby
increased, effective January 1, 2000, to $800,000 per year.
2. The amount to be contributed annually to Executive's SERP Account (as
defined in Section 7(b) of the Agreement) is hereby increased to $400,000 per
year beginning with calendar year 2000 and a one time grant of deferred
compensation equal to $1,549,998 shall also be made to the SERP Account, which
grants of deferred compensation shall be governed by that certain Amended and
Restated Supplemental Executive Retirement Plan and Agreement for the Executive
made as of the 19th day of April, 2000, a copy of which is attached hereto as an
exhibit.
3. Except as amended hereby, the Agreement shall continue in full force
and effect.
IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 3 as
of the date first above written.
CONCORD CAMERA CORP.
By: /s/ Xxxxxx X. Press
---------------------------------
Xxxxxx X. Press
Vice President and Treasurer
/s/ Xxx X. Xxxxxxx
-------------------------------------
Xxx X. Xxxxxxx
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Each of the undersigned hereby consents to the execution and delivery of the
foregoing Amendment No. 3 and acknowledges that its guaranty of the Company's
obligations under the Agreement, as amended, shall continue in full force and
effect:
CONCORD HOLDING CORP.
By: /s/ Xxxxxx X. Press
------------------------------------
Xxxxxx X. Press
CONCORD KEYSTONE SALES CORP.
By: /s/ Xxxxxx X. Press
------------------------------------
Xxxxxx X. Press
CONCORD CAMERA ILLINOIS CORP.
By: /s/ Xxxxxx X. Press
------------------------------------
Xxxxxx X. Press
CONCORD CAMERA (EUROPE) LIMITED
By: /s/ Xxxxxx X. Press
------------------------------------
Xxxxxx X. Press
GOLDLINE (EUROPE) LIMITED
By: /s/ Xxxxxx X. Press
------------------------------------
Xxxxxx X. Press
2
CONCORD CAMERA FRANCE SARL
By: /s/ Xxx X. Xxxxxxxx
------------------------------------
Xxx X. Xxxxxxxx
CONCORD CAMERA GMBH
By: /s/ Xxxxxxx Xxxxx; /s/ Xxx X. Xxxxxxx
--------------------------------------
CONCORD CAMERA HK LIMITED
By: /s/ Xxxxxx X. Press
------------------------------------
Xxxxxx X. Press
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