CONFIDENTIAL

November 7, 2008

Soo Hong Jeong
#202 Sam-IK Park Villa
248 Gumi-Dong
Bundang, Seongnam, Kyeonggi
Korea 463-802

     RE: Extension of your Employment Agreement

Dear S.H.:

Reference is made to the November 2, 2007 Letter Agreement between yourself and Photronics, Inc, extending your Employment Agreement dated June 9, 2006 (the “Agreement”) for an additional period of one year.

This letter will amend your Agreement by renewing your Agreement for an additional period of one (1) year beginning on October 28, 2008 and ending on October 27, 2009. All other terms and conditions of the Agreement will remain the same.

Please indicate your acceptance of the amendment of your Agreement by signing the enclosed copy of this letter and returning it to the undersigned.

Sincerely,

/s/ Constantine Macricostas

Constantine Macricostas
Chairman of the Board and Interim Chief Executive Officer

AGREED TO AND ACCEPTED
By:	/s/Soo Hong Jeong
Date:	November 10, 2008