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                                                                   EXHIBIT 10.12

                        AMENDMENT TO TERMS OF EMPLOYMENT
                                       OF
                                GERALD J. ANGELI
                                      WITH
                              CONCORD CAMERA CORP.

         AMENDMENT, dated as of June 11, 2001, to Terms of Employment dated as
of April 17, 2000 (the "Agreement") by and between CONCORD CAMERA CORP. (the
"Company") and GERALD J. ANGELI (the "executive").

         FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of
which is hereby acknowledged, the Agreement is hereby amended as follows:

         1. Section 5 of the Agreement is hereby deleted and replaced in its
entirety with the following:

          "5)  COMPENSATION

               Salary: $190,000 per annum payable in accordance with the
               Company's normal payroll policies for employees. The aforesaid
               salary is to be reviewed on an annual basis.

               Overseas Allowance: For working overseas as set forth herein, the
               executive will receive an additional $25,000 per annum, payable
               in quarterly installments at the end of each fiscal quarter
               commencing with the quarter ending July 1, 2001. The executive
               will be entitled to receive this allowance only if he works at
               the Company's locations in Hong Kong and/or the People's Republic
               of China ("Overseas") for at least six (6) months during the
               relevant fiscal year. If the executive spends less than six (6)
               months in a fiscal year working Overseas, the overseas allowance
               will be prorated accordingly.

               Deferred Compensation: The executive shall receive a one-time
               grant of deferred compensation equal to $115,000 with the entire
               amount to be deposited by the Company into a deferred
               compensation account created for this purpose. The deferred
               compensation shall vest, so long as the executive continues to be
               employed by the Company, in the following installments:

                         (a) as to $11,500 on June 11, 2002;
                         (b) as to $11,500 on June 11, 2003;
                         (c) as to $23,000 on June 11, 2004;
                         (d) as to $34,500 on June 11, 2005; and
                         (e) as to $34,500 on June 11, 2006.

               The Company will adopt a supplemental executive retirement plan
               (the "SERP") for the benefit of the executive, setting forth the
               terms and conditions under which the deferred compensation will
               be paid to the executive. The executive will not be entitled to
               have any portion of the deferred compensation distributed from
               the SERP account (even after he has vested as to same, pursuant
               to the terms of the SERP) prior to the earlier of June 11, 2006
               or the termination of the executive's employment with the
               Company."

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          2.   Unless otherwise provided herein, all capitalized terms shall
               have the meaning assigned to such terms in the Agreement.

          3.   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.

EXECUTIVE:                                   CONCORD CAMERA CORP.

/s/ Gerald J. Angeli                        By. /s/ Keith L. Lampert
------------------------------                 --------------------------------
Gerald J. Angeli                                Keith L. Lampert
                                                Vice President of Worldwide
                                                Operations

Date: 7-12-01                               Date: 7/16/01
      ------------------------                    -----------------------------

                                      -2-<PAGE>

                                                                   EXHIBIT 10.13

                    AMENDMENT NO. 2 TO TERMS OF EMPLOYMENT OF
                                GERALD J. ANGELI
                                      WITH
                              CONCORD CAMERA CORP.

         AMENDMENT No. 2, dated August 12, 2002, to Terms of Employment dated as
of April 17, 2000, amended as of June 11, 2001 (as amended, the "Agreement") by
and between CONCORD CAMERA CORP. (the "Company") and GERALD J. ANGELI (the
"employee").

         FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of
which is hereby acknowledged, the Agreement is hereby amended as follows:

         1.  Section 16 of the Agreement is deleted and replaced in its entirety
             with the following:

             "16) 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 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.

                  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 Concord,
                  pursuant to this Agreement or otherwise, are thereby forfeited
                  regardless of whether such options have vested."

         2.  The previous Exhibits A and B (dated January 20, 2000) and C (dated
             June 2, 1999) are hereby deleted and replaced in their entirety
             with the Exhibit A (dated February 12, 2001) and Exhibit B (dated
             August 10, 2000) attached hereto.

         3.  Unless otherwise provided herein, all capitalized terms shall have
             the meaning assigned to such terms in the Agreement.

         4.  The foregoing amendments are effective as of April 17, 2000.

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         5.  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.

EMPLOYEE:                                CONCORD CAMERA CORP.

/s/ Gerald J. Angeli                     By: /s/ Keith L. Lampert
--------------------------------             -----------------------------
Gerald J. Angeli                             Keith L. Lampert
                                             Executive Vice President and
                                             Director of Worldwide Operations

Date: August 12 '02                      Date: 8-16-02

                                      -2-<PAGE>

                                                                   EXHIBIT 10.14

                     AMENDMENT NO. 3 TO TERMS OF EMPLOYMENT
                                       OF
                                GERALD J. ANGELI
                                      WITH
                              CONCORD CAMERA CORP.

         AMENDMENT No. 3, dated as or January 1, 2003, to Terms of Employment
dated as of April 17, 2000, as heretofore amended (as amended, the "Agreement")
by and between CONCORD CAMERA CORP. (the "Company") and GERALD J. ANGELI (the
"employee").

         FOR GOOD AND VALUABLE CONSIDERATION the receipt and sufficiency of
which is hereby acknowledged, the Agreement is hereby amended as follows:

         1.  Section 3 of the Agreement is hereby deleted and replaced in its
             entirety with the following:

             "3)  TERM

                  The term hereof shall commence as of January 1, 2003 and
                  shall continue thereafter, year-to-year, until terminated in
                  accordance with Section 15 below. The employment may be
                  terminated in accordance with Section l5 below at any time
                  during the term."

         2.  In the first sentence of Section 5 of the Agreement (entitled
             "Compensation"), the salary is hereby increased to $200,000 per
             annum effective as a January 1, 2003.

         3.  Effective as of January 25, 2003, the previous Code of Conduct
             attached to the Agreement as Exhibit B (dated August 10, 2000) is
             hereby deleted and replaced in its entirety with the Exhibit B,
             dated January 12, 2003, attached hereto.

         4.  Section 15 of the Agreement is deleted and replaced in its entirery
             with the following:

             "15)  TERMINATION

                    The Company may terminate the employee for cause at any
                    time without notice. "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; (iv) fraud
                    or dishonesty; (v) any action in bad faith which is to the
                    detriment of the Company and/or any of its subsidiaries or
                    affiliates; (vi) failure to comply with any of the
                    provisions set forth in Exhibit A; or (vii) failure to
                    comply with the Code of Conduct annexed as Exhibit B.

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                  Either party may terminate at any time for any reason or
                  for no reason upon giving the other party three (3)
                  months' written notice. If the Company terminates the employee
                  for any reason other than cause, or for no reason:

                           (a) if such termination is made effective immediately
                  or at any other time before the expiration of the foregoing
                  3-month notice period, then the Company shall pay the
                  employee's base salary, in lieu of notice, for the remainder
                  of such notice period (the "Notice Payments"); and

                           (b) as additional consideration for the covenants of
                  employee set forth in Section 16 and Exhibit A, then, after
                  the Company has made any Notice Payments the employee is
                  entitled to receive pursuant to subparagraph (a) of this
                  section, the employee shall receive a payment (the
                  "Non-Compete Payment") equal to up to twelve (12) months' of
                  his base salary (net of required withholding). NOTWITHSTANDING
                  ANY PROVISION OF THIS AGREEMENT TO THE CONTRARY, IN NO EVENT
                  SHALL THE EMPLOYEE RECEIVE NOTICE PAYMENTS AND/OR A
                  NON-COMPETE PAYMENT WHICH, WHEN AGGREGATED, EXCEED TWELVE (12)
                  MONTHS OF HIS BASE SALARY. By way of example, if pursuant to
                  this section: (i) the employee receives Notice Payments equal
                  to one (1) month's base salary, then his Non-Compete Payment
                  will be for eleven (11) months' base salary; (ii) the employee
                  instead receives three (3) months' notice, such that there are
                  no Notice Payments, then his Non-Compete Payment will be for
                  twelve (12) months' base salary; or (iii) the employee
                  receives Notice Payments equal to three (3) month's base
                  salary, then his Non-Compete Payment will be for nine (9)
                  months' base salary.

                  Any and all Notice Payments and the Non-Compete Payment shall
                  be payable in installments (net of required withholding) in
                  accordance with the Company's normal payroll schedule and
                  shall not be payable simultaneously. The Company's obligation
                  to make any Notice Payments and/or the Non-Compete Payment is
                  conditioned upon the employee's prior and continued compliance
                  with all provisions of this Agreement including, but not
                  limited to, those set forth in Section 16 and Exhibit A.

                  If the employee's employment is terminated by the Company for
                  cause, or by the employee, then the employee will not receive
                  a Non-Compete Payment or any Notice Payments but all of his
                  obligations under the provisions of this Agreement, including
                  but not limited to those set forth in Section 16 and Exhibit
                  A, nevertheless remain in full force and effect.

                  In the event that the employee's employment terminates for any
                  reason at all, voluntarily or involuntary, benefits provided
                  to the 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."

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         5.  Unless otherwise provided herein, all capitalized terms shall have
             the meaning assigned to such terms in the Agreement.

         6.  Except as otherwise provided in paragraph 3 above, the foregoing
             amendments are effective as of January 1, 2003. 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.

EMPLOYEE:                                    CONCORD CAMERA CORP.

/s/ Gerald J. Angeli                         By: /s/ Keith L. Lampert
-----------------------------                --------------------------------
Gerald J. Angeli                                 Keith L. Lampert
                                                 Executive Vice President and
                                                 Chief Operating Officer

Date: 4-15-03                                Date: 4-21-03

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