Exhibit 10.2

                                 AMENDMENT NO. 2
                                       to
                               Terms of Employment
                                       of
                                Scott L. Lampert
                                      with
                              CONCORD CAMERA CORP.

      AMENDMENT NO. 2, dated  January 7, 2008, to Terms of Employment  having an
effective date of August 1, 2001, as amended by Amendment No. 1 ("Amendment  No.
1") dated April 1, 2006 (the "Amended 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 Amended  Agreement  is hereby  further  amended as
follows:

      1.    The paragraph  inserted in Section 12,  Termination,  of the Amended
            Agreement pursuant to Section 5 of Amendment No. 1 is hereby deleted
            in its entirety 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 twelve (12)
            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 twelve (12) 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 eleven (11) 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 twelve (12)  months'
            base salary and car allowance.

      2.    This Amendment No. 2 is effective  January 7, 2008. Except as hereby
            amended,  the  Amended  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