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): January 7, 2005
CONCORD CAMERA CORP.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
New Jersey 13-3152196
------------------------------- ------------------------
(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification Number)
0-17038
------------------------
(Commission File Number)
4000 Hollywood Boulevard, 6th Floor North Tower, Hollywood, Florida 33021
-------------------------------------------------------------------------
(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 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
Effective January 7, 2005, the Compensation and Stock Option Committee
of the Board of Directors of the Company approved an amendment to the employment
agreement dated February 11, 2003 of Blaine A. Robinson, the Company's Corporate
Controller and Principal Accounting Officer (the "Amendment"). Under the terms
of the Amendment, Mr. Robinson is entitled to an annual base salary of $159,000
and a monthly car allowance of $500, each effective as of February 11, 2004.
Under the terms of the Amendment, if the Company terminates Mr. Robinson's
employment for any reason other than cause, and such termination is made
effective immediately or upon less than thirty days written notice, then the
Company will pay to Mr. Robinson his base salary and monthly car allowance, in
lieu of notice, for the remainder of such thirty-day notice period (the "Notice
Payment"). In addition, if the Company terminates Mr. Robinson's employment for
any reason other than cause, then, Mr. Robinson shall receive payments equal to
three months of his then base salary and car allowance (net of required
withholding) (the "Severance Payment"), provided that in no event shall the
Notice Payment and the Severance Payment collectively exceed three months of Mr.
Robinson's then base salary and car allowance.
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: January 13, 2005 By: /s/ Alan Schutzman
---------------------------------------
Alan Schutzman, Senior Vice President,
General Counsel and Secretary