Exhibit 10-1 - Michael R. Haynes Employment Agreement Extension


    Exhibit
      10.1

    


    EMPLOYMENT
      AGREEMENT EXTENSION

    


    This
      EMPLOYMENT AGREEMENT EXTENSION (this “Agreement”), is dated as of March 17,
      2005, by and between COLLECTORS UNIVERSE, INC., a Delaware Corporation (the
      “Company” or “CUI”), and MICHAEL R. HAYNES (Executive”), with reference to the
      following:

     

    R E C I T A L S:

     

    A.    Executive
      is employed as Chief Executive Officer (the “CEO”) of the Company under an
      Employment Agreement entered into by him with the Company as of January 1,
      2003,
      as amended as of October 1, 2003 by a First Amendment to Employment Agreement
      and as further amended as of November 1, 2004, by a Second Amendment to
      Employment Agreement (and as so amended, the “Employment Agreement; and


     

    B.    The
      Employment Agreement is scheduled to expire by its own terms as of December
      31,
      2005 and the parties desire to further extend the term of the Employment
      Agreement and Executive’s employment with the Company thereunder to December 31,
      2006.

     

    A G R E E M E N T

     

    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, 2006, 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 Extension Agreement, 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
      Extension as of the day and date first above written:

     

     

    COLLECTORS
      UNIVERSE, INC.

     

    


    By:  /s/
      A.
      CLINTON ALLEN  

    A.
      Clinton Allen, Chairman

     

    
 

    /s/
      MICHAEL R. HAYNES  

                   
      Michael
      R. Haynes