UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 23, 2004
CONCORD CAMERA CORP.
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(Exact name of registrant as specified in its charter)
New Jersey 13-3152196
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(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification Number)
0-17038
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(Commission File Number)
4000 Hollywood Boulevard, 6th Floor North Tower, Hollywood, Florida 33021
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (954) 331-4200
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 5.02 APPOINTMENT OF PRINCIPAL OFFICER
On September 20, 2004, the Company's Board of Directors designated
Blaine A. Robinson, the Company's Corporate Controller, as the Company's
Principal Accounting Officer, and Harlan I. Press, the Company's Vice President
and Treasurer, as the Company's Principal Financial Officer. Messrs. Robinson
and Press have no family relationship with any director or executive officer,
whether existing or prospective, of the Company.
Mr. Robinson, who is 45, has served as the Company's Corporate
Controller since February 2003. From May 2002 to February 2003, Mr. Robinson was
employed by Spherion Corporation, serving as a financial and accounting
consultant to the Company. Previously, Mr. Robinson was Chief Financial Officer
of Green2go.com, Inc. from March 2000 to September 2001 and Assistant Corporate
Controller of AutoNation, Inc. from March 1997 to March 2000. Mr. Robinson is a
CPA and holds a MBA degree from the University of Florida.
Mr. Robinson's employment agreement, dated February 11, 2003, provides
for an annual base salary of $159,000 and an automobile allowance of $500 per
month. The term automatically renews from year-to-year and may be terminated by
either party on thirty (30) days' notice. Upon termination by the Company
without cause, in lieu of notice, the Company is obligated to pay Mr. Robinson
his base salary during the thirty (30) day notice period. The employment
agreement prohibits Mr. Robinson from competing with the Company for one (1)
year following termination.
Mr. Press, who is 40, has served as the Company's Vice President and
Treasurer since April 2000, Chief Accounting Officer since November 1994 and
Assistant Secretary since October 1996. Mr. Press served as the Company's
Corporate Controller from October 1996 to April 2000. Mr. Press is a CPA and
holds a Bachelor of Science degree from Syracuse University.
Mr. Press' employment agreement, dated July 27, 2001, as amended,
provides for an annual base salary of $180,000 and an automobile allowance of
$500 per month. The term of the employment agreement expires on January 1, 2006,
unless renewed by mutual agreement of the parties, and may be terminated by the
Company on thirty (30) days' notice at any time or by Mr. Press after January 1,
2006. If the Company terminates Mr. Press' employment at any time without cause,
or if Mr. Press terminates his employment after January 1, 2006, he will be
entitled to severance payments equal to one year of Mr. Press' then base salary
plus his automobile allowance, payable in accordance with the Company's normal
payroll practices. The employment agreement prohibits Mr. Press from competing
with the Company for one (1) year following termination.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CONCORD CAMERA CORP.
Date: September 23, 2004 By: /s/ Alan Schutzman
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Alan Schutzman,
Senior Vice President, General
Counsel and Secretary
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