exhibit10-1.htm


     

    EMPLOYMENT
      AGREEMENT AMENDMENT

    


    


    This
      EMPLOYMENT AGREEMENT AMENDMENT (this “Agreement”), is dated as of October 24,
      2007, by and between COLLECTORS UNIVERSE, INC., a Delaware Corporation (the
      “Company” or “CUI”), and MICHAEL R. HAYNES (Executive”), with reference to the
      following:

     

    RECITALS:

     

    A.           Executive
      is employed as Chief Executive Officer of the Company under an Employment
      Agreement entered into by him with the Company as of January 1, 2003, which
      has
      heretofore been amended on four occasions, primarily to extend the term of
      the
      CEO’s employment with the Company, most recently to December 31, 2007 and to
      evidence increases in his annual base salary, most recently to $340,000 (and
      as
      heretofore amended, the “Employment Agreement”); and

     

    B.           The
      Company and the CEO desire to further amend the Employment Agreement as and
      to
      the extent provided hereinafter in this Agreement.

     

    AGREEMENT

     

    NOW,
      THEREFORE, in consideration of the respective promises of each party made to
      the
      other in this Agreement and other good and valuable consideration, the receipt
      and sufficiency of which are hereby acknowledged by each of the parties, it
      is
      agreed as follows:

     

    1.           Extension
      of the Term of Employment.  The term of Executive’s employment
      under the Employment Agreement, as heretofore amended, is hereby extended and
      shall continue to December 31, 2008, unless the Executive’s employment is
      either (i) sooner terminated pursuant to the provisions of any of Sections
      5.2 through 5.7 (inclusive) of the Employment Agreement, or (ii) further
      extended by mutual written agreement of the parties.

     

    2.           No
      Other Changes.  The Employment Agreement, as heretofore amended,
      shall remain in full force and effect and, except as amended by this Agreement,
      as set forth in Section 1 hereof, shall remain unchanged.

     

    3.           Miscellaneous.

     

    3.1           Construction.  This
      Extension Agreement is the result of arms - length negotiations between the
      parties hereto, and no provision hereof shall be construed against a party
      by
      reason of the fact that such party or its legal counsel drafted said provision
      or for any other reason.

     

    3.2           Entire
      Agreement. This Extension Agreement contains all of the agreements of the
      parties relating to, and supersedes all prior agreements or understandings,
      written or oral, between the parties regarding, the extension of the term of
      the
      Employment Agreement.

     

    3.3           Binding
      on Successors.  Subject to the provisions of Section 6.4
      of the Employment Agreement (entitled “No Assignment”), which provisions are
      incorporated herein by this reference, this Extension Agreement shall be binding
      on the parties and their respective heirs, legal representatives and successors
      and assigns.

     

    3.4           Headings.  Section
      and paragraph headings are for convenience of reference only and shall not
      affect the meaning or have any bearing on the interpretation of any provision
      of
      this Second Amendment.

     

    3.5           Severability.  If
      any provision of this Extension Agreement is held to be invalid, illegal or
      unenforceable, the validity, legality and enforceability of the remaining
      provisions hereof shall not be affected or impaired in any way as a result
      thereof.

     

    3.6           Governing
      Law.  This Extension Agreement is made in and shall be construed
      and interpreted according to and enforced under the internal laws of the State
      of California, excluding its choice of law rules and principles.

     

    3.7           Counterparts.  This
      Extension Agreement may be executed in any number of counterparts, and each
      of
      such signed counterparts, including any photocopies or facsimile copies thereof,
      shall be deemed to be an original, but all of such counterparts shall constitute
      one and the same instrument.

     

    IN
      WITNESS WHEREOF, the undersigned have executed this Employment Agreement
      Amendment as of the day and date first above written:

     

    The
      Company:                                                                           COLLECTORS
      UNIVERSE, INC.

    


                                        By:      /s/  A.
      CLINTON
      ALLEN                                                                

    A.
      Clinton Allen,
      Chairman

     

     

    Executive:                                                                                   
                  /s/   MICHAEL
      R.
      HAYNES                                                                

    Michael
      R. Haynes