ARGOSY INTERNATIONAL, LTD.
X.X. Xxx 000
Providenciales
Turks and Caicos Islands, B.W.I.
April 4, 2002
RMS Titanic, Inc.
0000 Xxxxxxxxx Xxxx
Xxxxx 0000
Xxxxxxx, Xxxxxxx 00000
Gentlemen:
Reference is made to a certain agreement dated this 3rd day
of April, 2002, amongst you, RMS Titanic, Inc. ("Seller"), the undersigned,
Argosy International, Ltd. ("Purchaser"), Xxxxxx Xxxxxx ("Xxxxxx") and Danepath,
Ltd. (the "Corporation").
Pursuant to paragraph 6(d), Seller was required to deliver to
Purchaser a general release, releasing all the obligations owed by the
Corporation to Seller.
Seller's lawyer drafted paragraph 6 of the agreement,
including paragraph 6(d), but did not make the provisions of subparagraph (d) of
paragraph 6 to the effect that Seller was to assign by Seller to Purchaser all
the obligations owed by the Corporation to Seller.
Therefore, the Agreement is modified to the extent that
paragraph 6(d) is amended to read as follows:
6.....
(d) Seller shall deliver to Purchaser within ten (10) days, a
written assignment evidencing all the obligations owed by the
Corporation to Seller shall be deemed assigned so that Seller
shall have no further right against the Corporation, except as
set forth in the Agreement or any right or agreement referred
to in the Agreement.
Except as to this amendment to paragraph 6(d), the agreement
is ratified and confirmed.
If the foregoing meets with your understanding, please
indicate your approval and acceptance in the space provided for your signature.
Very truly yours,
ARGOSY INTERNATIONAL, LTD.
By
--------------------------------
The foregoing is accepted and approved:
RMS TITANIC, INC.
By
-----------------------
DANEPATH, LTD.
By
-----------------------
XXXXXX XXXXXX
