<PAGE>

                                 Schedule 10.37



         The Company has entered into an amendment to the Supplemental Executive
Retirement Plan and Agreement ("SERP") of each of the following executive
officers, the form of which is attached as Exhibit 10.37. The amendments are
identical except as indicated below:

                                                         Amount Specified in new
  Executive          Effective Date of the Amendment     Article IV, paragraph 2
----------------     -------------------------------     -----------------------

Brian F. King                July 31, 2001                   $   250,000.00
Keith L. Lampert           September 26, 2001                    150,000.00
Harlan I. Press              July 31, 2001                        55,000.00
Urs W. Stampfli              July 31, 2001                        36,666.66



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                                                                   Exhibit 10.37


                                    AMENDMENT
                                     TO THE
              SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AND AGREEMENT
                                       FOR

                              --------------------


         Amendment dated as of _____________, 2001 (this "Amendment") to the
Supplemental Executive Retirement Plan and Agreement for ______________, dated
as of April 19, 2000, by and between CONCORD CAMERA CORP., a New Jersey
corporation (the "Employer") and _______________ (the "Executive").

         Reference is made to the Supplemental Executive Retirement Plan and
Agreement for ________________ (the "Plan"), dated as of April 19, 2000, by and
between the Employer and the Executive.

         The Plan is hereby amended as follows:

         1. Article IV (consisting of paragraphs 1 and 2) is hereby deleted and
the following is substituted therefor:

                                     "Article IV Vesting

                  1. The balances in the Accounts shall vest as follows:

                           Account                      Vesting Date
                           -------                   --------------------

                           Account I                 January 1, 2001

                           Account II                January 1, 2002

                           Account III               January 1, 2003

     Upon the event of a Change in Control, the balances in the Accounts shall
     immediately vest. In addition, if the Executive's employment is terminated
     by the Employer without Cause, the balances in the Accounts shall
     immediately vest. In the event the Executive's employment with the Employer
     is terminated prior to the vesting of the balance in an Account for any
     other reason, the balance in such Account shall be immediately forfeited
     and the Executive shall have no further interests in such balance. For
     purposes of this Agreement, "Cause" shall mean "cause" as defined in the
     most recent employment agreement (the "Employment Agreement") between the
     Executive and the Employer and, in the absence of an Employment Agreement
     or in the absence of a definition of "Cause" in such Employment Agreement,
     "Cause" shall mean: (i) any continued failure by the Executive to obey the
     reasonable instructions of the Chairman and Chief


<PAGE>

     Executive Officer of the Employer; (ii) continued neglect by the Executive
     of his duties and obligations as an employee of the Employer, or a failure
     to perform such duties and obligations to the reasonable satisfaction of
     the Chairman and Chief Executive Officer of the Employer; (iii) willful
     misconduct of the Executive or other actions in bad faith by the Executive
     which are to the detriment of the Employer or any of its subsidiaries or
     affiliates including, without limitation, conviction of a felony,
     embezzlement or misappropriation of funds or conviction of any act of
     fraud; or (iv) a breach of any material provision of the Employment
     Agreement not cured within 30 days after written notice thereof.

                  2. Notwithstanding anything herein to the contrary, in the
     event of a forfeiture of a balance in an Account, the Executive agrees that
     to the extent that the balance in the Account at the time of forfeiture is
     less than $___________, he shall immediately pay to the Employer an amount
     equal to such deficiency. The Employer, in its discretion, may reduce the
     amounts otherwise payable to the Executive under this Plan and Agreement by
     any deficiency owed to the Employer pursuant to the immediately preceding
     sentence."

     2. Paragraph 1 of Article V is hereby deleted and the following is
substituted therefor:

                  "1. Except as otherwise provided in paragraph 2 of Article IV
     or in this Article V or in Article VI or VII, the vested balance in each
     Account shall be paid to the Executive in one of the two following methods
     at the election of the Executive: (a) a lump-sum payment to be paid at such
     time as is designated by the Executive or (b) annual installment payments
     over such period of years as may be designated by the Executive."

     3. Paragraph 6 of Article V is hereby deleted and the following is
substituted therefor:

                  "6. Except as provided in this paragraph 6, the Executive
     shall have no right to modify in any way his election and designation made
     pursuant to paragraph 1 of this Article V with respect to an Account or, in
     the event of his failure to make such an election or designation, the
     default provisions of paragraph 3. Provided that a modification election is
     made at least 12 months prior to it becoming effective, the Executive may:

                           (a)      delay the date on which a lump-sum payment
                                    from such Account shall be made;
                           (b)      accelerate the date on which benefit
                                    distributions from any vested portion of an
                                    Account shall commence;
                           (c)      change the form of benefit payment from such
                                    Account from a lump-sum payment to annual
                                    installment payments over such period of
                                    years as designated by the Executive;
                           (d)      change the form of benefit payment from such
                                    Account from annual installments to a
                                    lump-sum payment which shall be paid at the
                                    time designated by the Executive;



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<PAGE>


                           (e)      delay the commencement of annual installment
                                    payments from such Account; or
                           (f)      increase the period of years during which
                                    annual installments shall be made out of
                                    such Account."

         4. Paragraph 8 of Article V is hereby renumbered as Paragraph 9 and the
following is inserted as new Paragraph 8:

                  "8. Notwithstanding any other provision of this Plan and
     Agreement to the contrary, in the event the Executive is determined to be
     subject to federal income tax on any balance in an Account prior to the
     time of distribution hereunder, an amount equal to the federal, state and
     local taxes (including any interest and penalties) owed on such taxable
     amount, shall be distributed from such Account to the Executive. A balance
     in an Account shall be determined to be subject to federal income tax upon
     the earliest of: (a) a final determination by the Internal Revenue Service
     addressed to the Executive which is not appealed to the courts; (b) a final
     determination by the United States Tax Court or any other federal court
     affirming any such determination by the Internal Revenue Service; or (c) a
     written opinion by the Employer's tax counsel, addressed to the Employer,
     to the effect that balance in an Account are subject to federal income tax
     prior to distribution."

         5. The foregoing amendments to the Plan are effective as of the ____
day of ______, 2001.

         In WITNESS WHEREOF, this Amendment has been duly executed by the
Employer and by the Executive as of the date indicated above.

Witness:                                     CONCORD CAMERA CORP.


                                             By:
-------------------------------                  -------------------------------
                                                 Ira B. Lampert, Chairman,
                                                    Chief Executive Officer and
                                                    President


Witness:


-------------------------------              -----------------------------------



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