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 9, 2007
(January 5, 2007)
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, 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. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
(e) On January 5, 2007, the Compensation and Stock Option Committee of the Board
of Directors (the "Board") of Concord Camera Corp. (the "Company") approved an
increase in the annual base salary from $250,000 to $275,000, effective January
1, 2007, of each of Gerald J. Angeli, a Senior Vice President of the Company and
its Director of Operations, and Urs W. Stampfli, a Senior Vice President of the
Company and its Director of Global Sales and Marketing.
Additionally, the Company extended the term of Mr. Stampfli's employment from
January 1, 2007 to January 1, 2008.
Copies of the amendments to each of Mr. Angeli's and Mr. Stampfli's Terms of
Employment with the Company that reflect the above actions (collectively, the
"Amendments") are attached hereto as Exhibit 10.1 and Exhibit 10.2,
respectively, and incorporated herein by reference. In case of any inconsistency
between the discussion of the terms of the Amendments provided herein and the
provisions of the Amendments, the provisions thereof shall govern.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
Exhibit Description
No. of Exhibit
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10.1 Amendment No. 6 to Terms of Employment of Gerald J. Angeli with
Concord Camera Corp., effective as of January 1, 2007
10.2 Amendment No. 5 to Terms of Employment of Urs. W. Stampfli with
Concord Camera Corp., effective as of January 1, 2007
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 9, 2007 By: /s/ Scott L. Lampert
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Scott L. Lampert, Vice President,
General Counsel and Secretary
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