SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
This Second Amendment to Employment Agreement ("Second Amendment")
effective as of the 27th day of January, 2006, by and between Premier
Exhibitions, Inc., a corporation organized under the laws of the State of
Florida and having a place of business at 0000 Xxxxxxxxx Xxxx XX, Xxxxx 0000,
Xxxxxxx, Xxxxxxx 00000 ("Premier") and Xxxxx Xxxxxx, a resident of the state of
Georgia (Executive).
WHEREAS, PREMIER and Executive are parties to an Employment Agreement
dated February 4, 2002 and to an Amendment to Employment Agreement dated April
10, 2004; and
WHEREAS, PREMIER and Executive desire to modify certain provisions of
the Employment Agreement.
NOW, THEREFORE, in consideration of the mutual covenants and conditions
contained in this Second Amendment, the parties hereto agree to modify the
provisions as follows:
1. Executive shall receive 10% (TEN PERCENT) of Premier's quarterly
net income for each of the Fiscal Quarters during which this
Employment Agreement remains in effect. Such payment to be made
as a cash bonus to reward Executive for his efforts in the future
revenue growth and profitability of Premier and should be made
retroactively for all periods commencing July 30, 2004.
2. All other provisions and conditions in the Employment Agreement
and First Amendment to Employment Agreement not revised or
modified by this Second Amendment remain in full force and
effect.
IN WITNESS WHEREOF, the parties have executed this Second Amendment and
affixed their hand and seal hereto.
PREMIER EXHIBITIONS, INC. EXECUTIVE
By:____________________________ By:____________________________
Date:_____________ Date:______________
