AMENDMENT NO. 3
to
Terms of Employment
of
Blaine Robinson
with
CONCORD CAMERA CORP.

AMENDMENT NO. 3, dated April 1, 2006, to Terms of Employment having an Effective
Date of February 11, 2003, as heretofore amended (as amended, the “Agreement”),
by and between CONCORD CAMERA CORP. (the “Company”) and Blaine Robinson (the
“employee”).

FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which is
hereby acknowledged, the Agreement is hereby amended as follows:

 
1.
In Section 1, Position is hereby amended to Vice President - Finance, Treasurer
and Assistant Secretary.

 

 
2.
Section 4, Reports To is hereby deleted in its entirety and replaced with the
following:

 
4) Reports To
 
The Chief Executive Officer, or such other person or person(s) as the Chief
Executive Officer may from time to time designate.
 

 
3.
In Section 5, Compensation, the salary amount is increased to $210,000 per
annum, and the following paragraph is added:

 
The employee’s base salary will be increased an additional $10,000 to $220,000
per annum effective October 1, 2006, provided he has met certain performance
objectives to be mutually agreed upon by the employee and the Chief Executive
Officer of the Company.
 

 
4.
In Section 10, Benefits, delete the phrase “…, up to the maximum established in
the plan”.

 

 
5.
In Section 11, Termination, the second paragraph is deleted and replaced with
the following:

 
Either party may terminate at any time for any reason or for no reason upon
giving the other party 30 days’ written notice. If the Company terminates the
employee for any reason other than cause or for no reason and such termination
is made effective immediately or at any other time before the expiration of the
foregoing 30-day notice period (the “Notice Period”), then the Company shall pay
the employee’s base salary and car allowance in lieu of notice, for the
remainder of such Notice Period (the “Notice Payments”). In addition, if the
Company terminates the employee for any reason other than cause or for no
reason, then, subject to the limitation set forth in the next sentence, the
employee shall receive payments equal to four (4) months of his then base salary
and car allowance (net of required withholding) (the “Severance Payments”) in
accordance with the Company’s normal payroll schedule. Notwithstanding any
provision of this Agreement to the contrary, in no event shall the employee
receive payments pursuant to this Section 11 (Notice Payments and Severance
Payments) which, when aggregated, exceed four (4) months' of his then base
salary and car allowance. By way of example: (i) if the employee receives Notice
Payments equal to one (1) month's base salary and car allowance, then his
Severance Payments will be three (3) months' base salary and car allowance; and
(ii) if the employee instead receives 30 days’ notice, such that there are no
Notice Payments, then the Severance Payments will be equal to four (4) months'
base salary and car allowance.
 

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6.
Add the following Section 20, Executive Compensation Plans.

 

   
Subject to the terms and conditions of such plans, the employee is eligible to
participate in the Company’s Amended and Restated Annual Incentive Compensation
Plan, the Company’s Amended and Restated Long Term Incentive Plan Commencing
Fiscal 2004, the Company’s Flexible Perquisite Spending Account Program for
Corporate Officers and any other plans and programs made available to executive
officers of the Company, in each case as the same may be amended from time to
time. The foregoing plans/program as currently in effect are attached hereto as
Exhibits C, D and E, respectively.

 

 
7.
This Amendment No. 3 is effective April 1, 2006. Except as hereby amended, the
Agreement shall continue in full force and effect.

 
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first above written.

Accepted and Agreed:      Accepted and Agreed:          EMPLOYEE:      CONCORD
CAMERA CORP.                  /s/ Blaine Robinson  
By:
/s/ Ira B. Lampert

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Blaine Robinson    

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Ira B. Lampert      
Chairman, CEO and President

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