AMENDMENT
      NO. 1

    to

    Terms
      of Employment

    of

    Scott
      L. Lampert

    with

    CONCORD
      CAMERA CORP.

    


    AMENDMENT
      NO.1, dated April 1, 2006, to Terms of Employment having an Effective Date
      of
      August 1, 2001, (the “Agreement”) by and between CONCORD CAMERA CORP. (the
“Company”) and Scott L. Lampert (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, General Counsel and Secretary.
                

            


    

    


    
      	 	
              2.

            	
              In
                Section 5, Compensation,
                the salary amount is increased to $210,000 per annum, the monthly
                car
                allowance is $750 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. 

    


    
      	 	
              3.

            	
              Section
                7, Employee
                Loan
                is
                deleted in its entirety, and replaced with the
                following:

            


    

    


    7)
      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.

            


    

    


    
      	 	
              4.

            	
              In
                Section 11, Benefits,
                delete the phrase “..., up to the maximum established in the plan”.
                

            


    

    


    
      	 	
              5.

            	
              In
                Section 12, Termination,
                the second and third paragraphs are 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, 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 (the
“Severance Payments”). Notwithstanding any provision of this Agreement to the
      contrary, in no event shall the employee receive payments pursuant to this
      Section 12 (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.

    


    
      	 	
              6.

            	
              This
                Amendment No. 1 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/ Scott
                  L.
                  Lampert   	 	
                  By:

                	/s/ Ira
                  B.
                  Lampert
	
                  
Scott
                  L. Lampert   	 	 	
                  
Ira
                  B. Lampert
	 	 	 	
                  Chairman,
                    CEO and President