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                                                                   Exhibit 10.34


                                 Urs W. Stampfli
                               Terms of Employment
                                      with
                              Concord Camera Corp.



1)     Position

       Until April 24, 2000, Director of Global Sales and Marketing. As of April
       24, 2000, Vice President and Director of Global Sales and Marketing.

2)     Employer

       Concord Camera Corp., a New Jersey corporation (hereinafter, the
       "Company" or "Concord").

3)     Term

       Three (3) years and one day commencing effective as of January 1, 2000
       (the "Effective Date") and ending on January 1, 2003, inclusive (the
       "Term"). Thereafter, the Term may be renewed or extended by mutual
       agreement of both parties in writing. The employment may be terminated by
       the Company in accordance with Section 12 below at any time during the
       Term.

4)     Reports To

       The Chairman and Chief Executive Officer, or such other person or persons
       as the Chairman and Chief Executive Officer may designate.

5)     Compensation

       Salary: $210,000 per annum, increasing to $236,800 effective as of
       January 1, 2001. The aforesaid salary amount is payable in accordance
       with the Company's normal payroll policies for executives and is to be
       reviewed on an annual basis.

       Deferred Compensation: The employee has received a one-time grant of
       deferred compensation equal to $110,000 and the entire amount has been
       deposited by the Company into a deferred compensation account created for
       this purpose. The deferred compensation shall vest, so long as the
       employee continues to be employed by the Company, in the following annual
       installments: (i) as to $36,667 on January 1, 2001; (ii) as to $36,667 on
       January 1, 2002; and (iii) as to $36,666 on January 1, 2003. The Company
       has adopted a supplemental executive retirement plan (the "SERP") for the
       benefit of the employee, setting forth the terms and conditions under
       which the deferred compensation will be paid to the employee. The SERP
       provides for immediate vesting of the foregoing amounts upon a change of
       control of the Company. The SERP will be amended to also provide for
       immediate vesting in full if the Company terminates the employee's
       employment without cause (as defined in Section 12)


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Terms of Employment
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       before the end of the Term.

       Auto Allowance:  $1,000 per month.

6)     Employee Loan

       The employee will continue to repay the Company's loan to him pursuant to
       the terms and conditions of that certain Promissory Note dated May 15,
       1998. The Company may deduct (offset) such amounts as are due and payable
       to the Company from and against any payments of salary, bonus, or other
       compensation owed by the Company to the employee. In the event that the
       employee's employment is terminated for any reason, or for no reason,
       either by the employee or by the Company, all amounts then outstanding
       under the Promissory Note shall thereupon become immediately due and
       payable.

7)     Expense Reimbursement

       All reasonable documented expenses necessarily incurred in the
       performance of the employee's duties.

8)     Vacation

       Three (3) weeks vacation per year. Employee shall provide the Company a
       minimum of 30 days' prior written notice of a request for vacation days.
       All vacation days are subject to the Company's approval. The employee
       shall be entitled to the Company's regularly scheduled holidays.

9)     Bonus

       The employee is eligible to participate in the Company's management
       incentive compensation program which was approved by the Board of
       Directors of the Company on August 23, 1995 and November 8, 1995. The
       participation shall be subject to the terms and conditions of said
       program.

10)    Options

       The employee has been granted the following option, effective as of April
       24, 2000, to purchase up to 24,886 shares of the common stock of Concord:

              with vesting as to 8,295 shares on April 24, 2000;
              with vesting as to 5,530 shares on January 1, 2001;



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Terms of Employment
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              with vesting as to 5,530 shares on January 1, 2002; and
              with vesting as to 5,531 shares on January 1, 2003.

       The exercise price per share of the option is $22.1875. The foregoing
       exercise price and the number of shares subject to the foregoing option
       have already been adjusted to reflect the April 14, 2000 stock split paid
       to shareholders of record on March 27, 2000. The option is subject to the
       terms and conditions of that certain option agreement dated as of April
       24, 2000, by and between Concord and the employee (the "Option
       Agreement"). The Option Agreement provides for immediate vesting as to
       all shares underlying the option upon a change of control of the Company
       (as defined therein). The Option Agreement will be amended to also
       provide for immediate vesting in full if the Company terminates the
       employee's employment without cause (as defined in Section 12) before the
       end of the Term. The grant of the aforesaid option does not establish any
       right of continued employment.

11)    Benefits

       The employee shall be eligible to receive the following benefits, as same
       are made generally available to Company employees who participate in
       these plans, with contributions, as applicable, to be made by the
       employee and/or the Company consistent with the applicable plan(s):

       o      Life insurance at a rate of two (2) times base salary
       o      Medical and Dental insurance
       o      Disability Insurance
       o      401K Plan

       To the extent that the Company in its sole discretion modifies or
       terminates any of the foregoing plans or benefits, the employee shall be
       subject to said changes.

12)    Termination

       o      The employee may be terminated for cause. Cause shall mean: (i)
              continued failure to obey reasonable instructions of the person(s)
              to whom the employee reports; (ii) continued neglect of duties and
              responsibilities; (iii) willful misconduct or other actions in bad
              faith which are to the detriment of the Company and/or any of its
              subsidiaries or affiliates; (iv) failure to comply with any of the
              provisions set forth in Exhibit A; or (v) failure to comply with
              the Code of Conduct annexed as Exhibit B. Prior to terminating the
              employee for cause the Company shall provide the employee with
              written notice of the allegations giving rise to termination and
              provide the employee with 30 days to respond to the allegations
              and an additional 30 days to


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Terms of Employment
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              cure, remedy or rectify any circumstances giving rise to
              termination for cause to the extent that any cure, remedy or
              rectification is possible.

       o      Concord may terminate the employee's employment at any time for
              any reason by giving the employee 30 days' written notice. In the
              event Concord elects to terminate pursuant to this provision, it
              may at its option request employee to remain in its employment
              during the 30 day period following delivery of notice of
              termination, provided that the Company shall continue to provide
              the employee with his normal and customary compensation and
              benefits as prescribed in Sections 5, 8 and 11. Alternatively,
              Concord may require the employee to cease working at any time
              during the 30-day notice period. If: (i) Concord terminates the
              employee's employment without cause (as defined above in this
              Section) whether during the Term or at any time after the
              expiration of the Term; or (ii) the employee terminates his
              employment with Concord after the expiration of the Term (but not
              before), then the employee will be paid for a total of one (1)
              year (post-employment compensation), excluding any portion of the
              30-day notice period for which the employee remained in the
              Company's employment, at the then effective compensation provided
              for in Section 5. The portions of such post-employment
              compensation that are related to the employee's salary and auto
              allowance will be paid in installments (net of required
              withholding) in accordance with the Company's normal payroll
              schedule for executives. The Company's obligation to pay any such
              post-employment compensation is conditioned upon the employee's
              prior and continued compliance with the provisions of this
              Agreement including, but not limited to, Section 13 and Exhibit A.

       o      To the extent that the employee's employment terminates for any
              reason outlined above, benefits as set forth in Sections 8 and 11
              provided to employee will terminate as of the last day of
              employment unless otherwise specified in any employee benefit plan
              or unless otherwise specified as a matter of law.

13)    Confidentiality and Intellectual Property; Non-Compete; Code of Conduct

       Annexed hereto as Exhibits A and B, respectively, are provisions
       applicable to the employee which are incorporated herein by reference and
       are part of this Agreement. As consideration for the covenants of
       employee set forth in Exhibit A, the Company hereby employs or continues
       to employ employee and employee hereby accepts employment or continued
       employment upon the terms and conditions contained herein. The employee
       acknowledges and agrees that the provisions set forth in Exhibits A and B
       do not affect the Company's ability to terminate the employee at any time
       with or without cause. If a provision set forth in this Term



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       Sheet conflicts with a provision set forth in one or both of the
       exhibits, then the provisions of this Term Sheet shall govern. The
       obligations set forth in Exhibits A and B shall survive any termination
       of the employee's employment and/or any termination or expiration of this
       Agreement. The Company acknowledges that employee's willingness to enter
       into the non-compete covenants is based solely on employee receiving the
       post employment compensation in the circumstances provided for in Section
       12. The employee acknowledges that, if the Company terminates the
       employee's employment with cause (as defined in Section 12) or if the
       employee terminates his employment with the Company before the end of the
       Term (in breach of this Agreement), then the employee will not be
       entitled to receive the post-employment compensation described in Section
       12 but the non-compete covenants will nevertheless remain in full force
       and effect.

       In the event the employee fails to comply with any of the terms or
       conditions of Exhibit A or B (as same may be modified in this Term
       Sheet), all stock options granted by the Company, pursuant to this
       Agreement or otherwise, are thereby forfeited regardless of whether such
       options have vested.

 14)   Representation by Employee

       Employee acknowledges and represents that he is not subject to any
       agreement or understanding, oral or written, direct or indirect, which
       would in any way prohibit, interfere with, restrict or limit: (a) the
       employee's employment by the Company (or any of its subsidiaries or
       affiliates); or (b) any activities contemplated as part of the employee's
       employment hereunder.

15)    Acknowledgment of Representation by Counsel

       Employee acknowledges that he has been represented by independent counsel
       or has knowingly waived his right to be represented by independent
       counsel with respect to this Agreement and the subject matter hereof.

16)    Indemnification

       The employee agrees to indemnify the Company for any damages, claims,
       expenses or costs, including attorneys fees, incurred by the Company
       relating directly or indirectly to any act or omission of the employee
       outside of the scope of the employee's duties and responsibilities as an
       employee of the Company. The Company agrees to indemnify the employee for
       any damages, claims, expenses or costs, including attorneys' fees,
       incurred by the employee relating directly or indirectly to any act or
       omission of the Company within the scope of performing the employee's
       duties and responsibilities as an employee of the Company.


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17)    Entire Agreement

       This Agreement (which includes all schedules and exhibits to same)
       contains the entire understanding and agreement among and between the
       parties and supersedes any prior understandings or agreements, oral or
       written, between them relating to the subject matter hereof.
       Notwithstanding the foregoing, unless this Agreement specifically
       provides otherwise, it does not supercede any prior option agreements
       entered into between the Company and the employee. Any amendments to this
       Agreement must be in writing, signed by the parties affected by the
       amendment.

18)    Severability

       If any provision of this Agreement is held breached, illegal, invalid or
       unenforceable, such provision shall be deemed severed and the remainder
       of this Agreement will remain binding on the parties as though the
       breached, illegal, invalid or unenforceable provision had not been
       included.

19)    Attorneys' Fees

       If any action at law or in equity is brought to enforce the provisions of
       this Agreement, the prevailing party shall be entitled to reasonable
       attorneys' fees, whether at pretrial, trial or appellate levels, which
       may be set by the court in the same action or in a separate action for
       that purpose, including reasonable costs and fees awarded in such action,
       in addition to any other relief to which the party may be entitled.

20)    Governing Law

       This Agreement and the employment of the employee shall be governed by
       the laws of the State of Florida. Any litigation related to or arising
       out of this Agreement shall be brought in the state or federal courts of
       the State of Florida, or in the event the Company moves its principal
       place of business from the State of Florida, in the state or federal
       courts of the state of such other principal place of business. The
       parties agree that service of process may be effected by certified or
       registered mail, return receipt requested, or by regular mail if
       certified or registered mail is refused. The parties hereto agree to
       waive, and do hereby waive, trial by jury. The employee agrees and
       acknowledges that in the event of his violation of any term or condition
       of this Agreement that the Company will have no adequate remedy at law
       and shall, therefore, be entitled to enforce any provision hereof by
       temporary or permanent injunctive or


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Terms of Employment
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       mandatory relief obtained in any court of competent jurisdiction without
       the necessity of proving damage or posting any bond or other security and
       without prejudice to any other remedies that may be available to the
       Company at law or in equity.



Accepted and Agreed:                     Accepted and Agreed:

EMPLOYEE                                 CONCORD CAMERA CORP.


/s/ Urs W. Stampfli                      By: /s/ Ira B. Lampert
-----------------------------               -----------------------------------
Urs W. Stampfli                             Ira B. Lampert, Chairman and
                                              Chief Executive Officer

Date:  7/27/01                           Date:  7/27/01
      -----------------------                  --------------------------------





Rev/ 08/16/00




[Exhibits A and B to this Agreement are identical to Exhibits A and B to the
Terms of Employment of Brian King, filed herewith as Exhibit 10.32.]