Document:

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                                                                    Exhibit 10.3

                                    AMENDMENT
                                     TO THE
              SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AND AGREEMENT
                                       FOR
                                 HARLAN I. PRESS

         Amendment dated as of July 31, 2001 (this "Amendment") to the
Supplemental Executive Retirement Plan and Agreement for Harlan I. Press, dated
as of April 19, 2000, by and between CONCORD CAMERA CORP., a New Jersey
corporation (the "Employer") and HARLAN I. PRESS (the "Executive").

         Reference is made to the Supplemental Executive Retirement Plan and
Agreement for Harlan I. Press (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
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.

                                       1

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                  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 $55,000, 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;

                                       2

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                     (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 31st
day of July, 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.

/s/ Elizabeth Marsicano                By: /s/ Ira B. Lampert
------------------------------             ------------------------------------
                                           Ira B. Lampert, Chairman,
                                           Chief Executive Officer and
                                           President

Witness:

/s/ Ann E. Neal                       /s/ Harlan I. Press
------------------------------        -----------------------------------------
                                      HARLAN I. PRESS

                                       3<PAGE>

                                                                    Exhibit 10.4

                                    AMENDMENT
                                     TO THE
              SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN AND AGREEMENT
                                       FOR
                                 URS W. STAMPFLI

         Amendment dated as of July 31, 2001 (this "Amendment") to the
Supplemental Executive Retirement Plan and Agreement for Urs W. Stampfli, dated
as of April 19, 2000, by and between CONCORD CAMERA CORP., a New Jersey
corporation (the "Employer") and URS W. STAMPFLI (the "Executive").

         Reference is made to the Supplemental Executive Retirement Plan and
Agreement for Urs W. Stampfli (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 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.

                                       1
<PAGE>

                  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 $36,666.66, 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;

                                       2

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                     (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 31st
day of July, 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.

/s/ Elizabeth Marsicano             By: /s/ Ira B. Lampert
-------------------------------         ---------------------------------------
                                        Ira B. Lampert, Chairman,
                                        Chief Executive Officer and
                                        President

Witness:

/s/ Elin Selleck                    /s/ Urs W. Stampfli
-------------------------------     -------------------------------------------
                                    URS W. STAMPFLI

                                       3

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