Document:

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                                                                    EXHIBIT 10.1

                              Employment Agreement

June 13, 2002

Mr. Martin E. Hanaka
Chairman and Chief Executive Officer
The Sports Authority, Inc.
3383 North State Road 7
Ft. Lauderdale, FL  33319

Dear Mr. Hanaka:

This Agreement will confirm our understanding concerning your continued
employment with The Sports Authority, Inc. (the "Company").  This Agreement
supersedes our agreement on the same subject dated as of April 30, 2001.

1.   The Company agrees to employ you as, and you agree to serve as, the
Company's Chief Executive Officer subject to the provisions of this Agreement
during the Term of this Agreement.  The Term of this Agreement shall end on
December 31, 2005, and each year shall automatically extend by one additional
calendar year unless either party to this Agreement gives the other party
written notice of its election not to extend the Term of this Agreement no later
than October 1 of the year which is more than three years prior to the then
scheduled Term of this Agreement (for example, if no such notice is given by
October 1, 2002, the Term of this Agreement shall automatically extend from
December 31, 2005 to December 31, 2006).

2.   If your employment with the Company is terminated by the Company other than
for Cause, and if paragraph 3 does not apply, the Company will pay to you
through the Term of this Agreement, a monthly fee equal to (a) one-twelfth of
your annualized base salary in effect on the date your employment is terminated,
plus (b) one-twelfth of the "on plan" bonus amount targeted for you for the
fiscal year during which your employment is terminated (to be paid on or about
the 15th day of each month).  In addition, all of your unvested options to
purchase Company stock under the Company's stock option plans will vest upon the
termination of your employment by the Company other than for Cause or upon your
death during the Term of this Agreement.  In addition, during the period the
Company is obligated to make payments to you under this paragraph, subject to
paragraph
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9, the Company will provide you with coverage, no less favorable than your
coverage at the time of your termination, under the Company's medical, dental,
long-term disability and life insurance plans (and, to the extent the Company is
unable to provide such benefits, it will pay the cost of equivalent after-tax
coverage).

3.  If there is a Change in Control of the Company while you are employed by the
Company and if (i) your employment with the Company is terminated by the Company
other than for Cause, or (ii) you terminate your employment with the Company for
Good Reason, in either case within a two-year period following such a Change in
Control, the Company will pay to you an amount equal to 2.99 times the sum of
(i) your annual rate of base salary at the time of termination or immediately
prior to the Change in Control, whichever base salary amount is greater, and
(ii) the "on plan" bonus amount targeted for you for the fiscal year in which
termination occurs or the fiscal year immediately prior to the Change in
Control, whichever bonus amount is greater.  Such payment shall be made within
fifteen days after your termination. In addition, subject to paragraph 9, during
the period of three years after your termination under this paragraph 3, the
Company will provide you with coverage, no less favorable than your coverage at
the time of your termination or immediately prior to the Change in Control,
whichever benefit amount is greater, under the Company's medical, dental, long-
term disability and life insurance plans (and, to the extent the Company is
unable to provide such benefits, it will pay the cost of equivalent after-tax
coverage).

4.  If there is a Change in Control of the Company while you are employed by the
Company and if, at any time after one year after the Change in Control and
during the Term of this Agreement, (i) you are not the chief executive officer
of (A) the corporation or other entity (whether or not it is the Company) which
is the survivor of any merger or consolidation resulting from the Change in
Control, if such surviving corporation or entity is not more than 50% owned by
any other corporation or entity, or (B) the corporation or other entity which,
as a result of the Change in Control, owns more than 50% of the stock of the
Company or the corporation or entity which is the survivor of any merger or
consolidation resulting from the Change in Control, other than due to your
resignation from such position or your refusal to serve in such position, and
(ii) you terminate your employment with the Company or such other entity (other
than under the circumstances described in paragraph 3), the Company will pay to
you through one year after the last day of your employment a monthly fee equal
to (a) one-twelfth of your annualized base salary in effect on the date your
employment is terminated, plus (b) one-twelfth of the "on plan" bonus amount
targeted for the fiscal year in which termination occurs or the fiscal year
immediately prior to the Change in Control, whichever bonus amount is greater
(to be paid on or about the 15th day of each month).  In addition, during the
period the Company is obligated to make payments to you under this paragraph,
subject to paragraph 9, the Company will provide you with coverage, no less
favorable than your coverage at the time of your termination, under the
Company's medical, dental, long-term disability and life insurance plans (and,
to the extent the Company is unable to provide such benefits, it will pay the
cost of equivalent after-tax coverage).
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5.  (a)  Termination by the Company for "Cause" means termination based on (i)
conduct which is a material violation of Company policy, as in effect
immediately before any Change in Control, or which is fraudulent or unlawful or
which materially interferes with your ability to perform your duties, (ii)
misconduct which damages or injures the Company or substantially damages the
Company's reputation, or (iii) gross negligence in the performance of, or
willful failure to perform, your duties and responsibilities.

    (b)  Termination by you for "Good Reason" means termination based on the
occurrence without your express written consent of any of the following: (i) a
significant diminution by the Company of your role with the Company or a
significant detrimental change in the nature and/or scope of  your status with
the Company, other than for Cause, (ii) a reduction in your base salary, other
than for Cause and other than as part of an across-the-board reduction in
salaries of management personnel (including all Vice Presidents and above) of
less than 20%, (iii) a material diminution by the Company of benefits (taken as
a whole) provided to you immediately prior to the Change in Control, or (iv) the
relocation of the Company's principal executive offices to a location outside of
Broward County, Palm Beach County or Dade County, Florida or any requirement
that you be based anywhere other than the Company's principal executive offices.

    (c)  A "Change in Control" shall be deemed to have occurred if:

         (i)    the "beneficial ownership" (as defined in Rule l3d-3 under the
Securities Exchange Act of 1934, as amended (the "Exchange Act")) of securities
representing more than 50% of the combined voting power of the Company is
acquired by any "person" as defined in sections 13(d) and 14(d) of the Exchange
Act (other than the Company or any trustee or other fiduciary holding securities
under an employee benefit plan of the Company), or

         (ii)   the shareholders of the Company approve a definitive agreement
to merge or consolidate the Company with or into another corporation or to sell
or otherwise dispose of all or substantially all of its assets, or

         (iii)  during any period of three consecutive years, individuals who at
the beginning of such period were members of the Board of Directors of the
Company cease for any reason to constitute at least a majority thereof (unless
the election, or the nomination for election by the Company's shareholders, of
each new director was approved by a vote of at least a majority of the directors
then still in office who were directors at the beginning of such period).

6.  (a)  Anything in this Agreement to the contrary notwithstanding, in the
event that it shall be determined that any payment or distribution to or for
your benefit, whether paid or payable or distributed or distributable pursuant
to the terms of this agreement or otherwise (the "Payment"), would constitute an
"excess parachute payment" within the meaning of Section 280G of the Code,  you
shall be paid an additional amount (the "Gross-Up Payment") such that the net
amount retained by you after deduction of any
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excise tax imposed on you under Section 4999 of the Code, and any federal, state
and local income and employment tax and excise tax imposed upon the Gross-Up
Payment shall be equal to the Payment. For purposes of determining the amount of
the Gross-Up Payment, you shall be deemed to pay federal income tax and
employment taxes at the highest marginal rate of federal income and employment
taxation in the calendar year in which the Gross-Up Payment is to be made and
state and local income taxes at the highest marginal rate of taxation in the
state and locality of your residence (or, if greater, the state and locality in
which you are required to file a nonresident income tax return with respect to
the Payment) on the Termination Date, net of the maximum reduction in federal
income taxes that may be obtained by you from the deduction of such state and
local taxes.

     (b)   All determinations to be made under this paragraph 6 shall be made by
the Company's independent public accountant immediately prior to the Change of
Control (the "Accounting Firm"), which firm shall provide its determinations and
any supporting calculations both to the Company and you within 10 days of your
termination.  Any such determination by the Accounting Firm shall be binding
upon the Company and you.  Within five days after the Accounting Firm's
determination, the Company shall pay (or cause to be paid) or distribute (or
cause to be distributed) to you, or for your benefit, such amounts as are then
due to you under this agreement.

     (c)   You shall notify the Company in writing of any claim by the Internal
Revenue Service that, if successful, would require the payment by the Company of
the Gross-Up Payment.  Such notification shall be given as soon as practicable
but no later than ten business days after you know of such claim and shall
apprise the Company of the nature of such claim and the date on which such claim
is requested to be paid.  You shall not pay such claim prior to the expiration
of the thirty day period following the date on which you give such notice to the
Company (or such shorter period ending on the date that any payment of taxes
with respect to such claim is due).  If the Company notifies you in writing
prior to the expiration of such period that it desires to contest such claim,
you shall:

     (i)   give the Company any information reasonably requested by the Company
           relating to such claim;

     (ii)  take such action in connection with contesting such claim as the
           Company shall reasonably request in writing from time to time,
           including, without limitation, accepting legal representation with
           respect to such claim by an attorney reasonably selected by the
           Company;

     (iii) cooperate with the Company in good faith in order to effectively
           contest such claim; and

     (iv)  permit the Company to participate in any proceedings relating to such
           claim;
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provided, however, that the Company shall bear and pay directly all costs and
expenses (including additional interest and penalties) incurred in connection
with such contest and shall indemnify and hold you harmless, on an after-tax
basis, for any excise tax, income tax or employment tax, including interest and
penalties, with respect thereto, imposed as a result of such representation and
payment of costs and expenses.  Without limitation on the foregoing provisions
of this paragraph 6, the Company shall control all proceedings taken in
connection with such contest and, at its sole option, may pursue or forego any
and all administrative appeals, proceedings, hearing and conferences with the
taxing authority in respect of such claim and may, at its sole option, either
direct you to pay the tax claimed and sue for a refund or contest  the claim in
any permissible manner, and you agree to prosecute such contest to a termination
before any administrative tribunal, in a court of initial jurisdiction and in
one or more appellate courts, as the Company shall determine; provided further,
however, that if the Company directs you to pay such claim and sue for a refund
the Company shall advance the amount of such payment to you, on an interest-free
basis and shall indemnify and hold you harmless, on an after-tax basis, from any
excise tax, income tax or employment tax, including interest or penalties with
respect thereto, imposed with respect to such advance or with respect to any
imputed income with respect to such advance; and provided further that any
extension of the statute of limitations relating to payment of taxes for your
taxable year with respect to which such contested amount is claimed to be due is
limited solely to such contested amount.  Furthermore, the Company's control of
the contest shall be limited to issues with respect to which a Gross-Up Payment
would be payable hereunder and you shall be entitled to settle or contest, as
the case may be, any other issue raised by the Internal Revenue Service or any
other taxing authority.

     (d)  If, after the receipt by you of an amount advanced by the Company
pursuant to this Section, you become entitled to receive any refund with respect
to such claim, you shall (subject to the Company's complying with the
requirements of this paragraph) promptly pay to the Company the amount of such
refund (together with any interest paid or credited thereon after taxes
applicable thereto).  If, after the receipt by you of an amount advanced by the
Company pursuant to this Section, a determination is made that you shall not be
entitled to any refund with respect to such claim and the Company does not
notify you in writing of its intent to contest such denial of refund prior to
the expiration of thirty days after such determination, then such advance shall
be forgiven and shall not be required to be repaid and the amount of such
advance shall offset, to the extent thereof, the amount of Gross-Up Payment
required to be paid.

     (e)  All of the fees and expenses of the Accounting Firm in performing the
determinations referred to in this paragraph shall be borne solely by the
Company. The Company agrees to indemnify and hold harmless the Accounting Firm
of and from any and all claims, damages and expenses resulting from or relating
to its determinations pursuant to this paragraph, except for claims, damages or
expenses resulting from the gross negligence or willful misconduct of the
Accounting Firm.
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7.   In addition to the life insurance benefits required in this Agreement under
the Company sponsored plan, the Company will provide you with life insurance
coverage as follows.

     (a) In the event your employment is terminated by death during the Term of
this Agreement and paragraph 3 does not apply, such insurance will pay to your
designated beneficiary or beneficiaries (collectively, "Beneficiary") in a lump
sum the present value, using a discount rate equal to the asked yield on the
longest term U.S. Treasury bill quoted in The Wall Street Journal on the date of
your death (the "Present Value") of the following amount: a monthly amount equal
to (a) one-twelfth of your annualized base salary in effect on the date of your
death, plus (b) one-twelfth of the "on plan" bonus amount targeted for you for
the fiscal year during which your death occurs (due on or about the 15th day of
each month), through the remainder of the Term of this Agreement.

     (b) In the event you die after your employment has been terminated under
paragraph 2 but before the date the last payment due to you under paragraph 2 is
made, such insurance will pay to your Beneficiary in a lump sum the Present
Value of the following amount: (i) a monthly amount equal to (a) one-twelfth of
your annualized base salary in effect on the date your employment was
terminated, plus (b) one-twelfth of the "on plan" bonus amount targeted for you
for the fiscal year during which your employment was terminated (due on or about
the 15th day of each month), through the Term of this Agreement, less (ii) all
amounts already paid to you under paragraph 2.

     (c) In the event your employment is terminated by death within a two-year
period following a Change in Control, such insurance will pay to your
Beneficiary an amount equal to 2.99 times the sum of (i) your annual rate of
base salary at the time of your death or immediately prior to the Change in
Control, whichever base salary amount is greater, and (ii) the "on plan" bonus
amount targeted for you for the fiscal year in which your death occurs or the
fiscal year immediately prior to the Change in Control, whichever bonus amount
is greater.

8.   In consideration of the obligations of the Company hereunder, you agree
that you shall not, (i) during the Term of this Agreement, if your employment is
terminated under paragraph 2, (ii) for a period of three years from the
termination of your employment, if your employment is terminated under paragraph
3, or (iii) for a period of one year from the termination of your employment by
you or the Company for any reason except as set forth in (i) or (ii) above: (a)
directly or indirectly become an employee, director, consultant or advisor of,
or otherwise affiliated with, any retailer of sporting goods, athletic footwear
or athletic apparel which sells in the United States though any retail channel
(unless the classes of products sold by such retailer constitute less than 10%
of the total sales by the Company and its licensees in the United States during
the fiscal year of the Company immediately preceding the year of such
termination), (b) directly or indirectly solicit or hire, or encourage the
solicitation or hiring of, any person who was an employee of the Company at any
time on or after the date of such termination (unless
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more than six months shall have elapsed between the last day of such person's
employment by the Company and the first date of such solicitation or hiring),
(c) disparage the name, business reputation or business practices of the Company
or any of its officers or directors, or interfere with the Company's existing or
prospective business relationships, or (d) without the written consent of the
Chief Executive Officer of the Company, disclose to any person other than as
required by law or court order, any confidential information obtained by you
while in the employ of the Company, provided, however, that confidential
information shall not include any information known generally to the public
(other than as a result of unauthorized disclosure by you) or any specific
information or type of information generally not considered confidential by
persons engaged in the same business as the Company, or information disclosed by
the Company by any member of its Board of Directors or any other officer thereof
to a third party without restrictions on the disclosure of such information.

You acknowledge that these restrictions are reasonable and necessary to protect
the Company's legitimate interests, that the Company would not have entered into
this agreement in the absence of such restrictions, and that any violation of
these restrictions will result in irreparable harm to the Company.  You agree
that the Company shall be entitled to preliminary and permanent injunctive
relief, without the necessity of proving actual damages, as well as an equitable
accounting of all earnings, profits and other benefits arising from any
violation hereof, which rights shall be cumulative and in addition to any other
rights or remedies to which the Company may be entitled.  You irrevocably and
unconditionally (i) agree that any legal proceeding arising out of this
paragraph may be brought in the United States District Court for the Southern
District of Florida, or if such court does not have jurisdiction or will not
accept jurisdiction, in any court of general jurisdiction in Broward County,
Florida, (ii) consent to the non-exclusive jurisdiction of such court in any
such proceeding, and (iii) waive any objection to the laying of venue of any
such proceeding in any such court.  You also irrevocably and unconditionally
consent to the service of any process, pleadings, notices or other papers.

9.   The payments provided hereunder shall constitute the exclusive payments due
you from, and the exclusive obligation of, the Company in the event of any
termination of your employment, except for any benefits which may be due you in
normal course under any employee or executive benefit plan of the Company which
provides benefits after termination of employment, other than a severance pay
plan. You shall not be required to mitigate the amount of any payment or benefit
provided for in this agreement by seeking other employment or otherwise, nor
shall the amount of any payment or benefit provided for herein be reduced by any
compensation earned by other employment or otherwise, except that the provision
of medical, dental, long-term disability and life insurance coverage shall cease
on the date you are eligible to receive such benefits from another employer.
The payments hereunder may not be transferred, assigned or encumbered in any
manner, either voluntarily or involuntarily.  In the event of your death, any
payments then or thereafter due hereunder will be made to your estate.
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10.  It is the intent of the parties that you not be required to incur any
expenses associated with the enforcement of your right to receive payments due
under paragraph 3 or paragraph 4 of this agreement by arbitration, litigation or
other legal action because the cost and expense thereof would substantially
detract from the benefits intended to be extended to you.  Accordingly, the
Company shall pay you on demand the amount necessary to reimburse you in full
for all reasonable expenses (including all attorneys' fees and legal expenses)
incurred by you in enforcing the obligations of the Company to make the payments
due under paragraph 3 or paragraph 4 of  this agreement.

11.  The obligation to make the payments hereunder is conditioned upon your
execution and delivery to the Company at the time of the termination of your
employment of a release, in form satisfactory to the Company, of any claims you
may have as a result of your employment or termination of employment under any
federal, state or local law, excluding any claim for benefits which may be due
you in normal course under any employee or executive benefit plan of the Company
which provides benefits after termination of employment, other than a severance
pay plan, and excluding any claims for reimbursement for liabilities, costs or
expenses incurred in any action against you within the scope of your employment
by the Company and for which you would have been indemnified pursuant to the
bylaws of the Company as of the date hereof (in which case you shall notify the
Company in writing within ten days after receiving service of process as to the
commencement of the action and give the Company the right to control the defense
of any such action), unless later limited in accordance with applicable law.

12.  The Company shall require any successor or successors (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company, by agreement in
form and substance satisfactory to you, to acknowledge expressly that this
agreement is binding upon and enforceable against the Company in accordance with
the terms hereof, and in the same manner and to the same extent that the Company
would be required to perform if no such succession or successions had taken
place.  Failure of the Company to obtain such agreement prior to the
effectiveness of any such succession shall be a breach of this agreement.  As
used in this agreement, the Company shall mean the Company as hereinbefore
defined and any such successor or successors to its business and/or assets,
jointly and severally.

13.  All payments hereunder shall be subject to applicable tax withholding and
deductions.

14.  This agreement sets forth the entire understanding between you and the
Company concerning your relationship with the Company and supersedes all prior
agreements, written or oral, express or implied, between you and the Company as
to such subject matter.  This agreement may not be amended, nor may any
provision hereof be modified or waived, except by an instrument in writing duly
signed by you and the Company.
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15.  If any provision of this agreement, or any application thereof to any
circumstances, is invalid, in whole or in part, such provision or application
shall to that extent be severable and shall not affect other provisions or
applications of this agreement.

16.  This agreement shall be governed by and interpreted under the laws of the
State of Delaware without giving effect to any conflict of laws provisions.

Please indicate your agreement by signing below and retain one copy for you
records.

                                        Sincerely,

                                        THE SPORTS AUTHORITY, INC.

                                        By: /s/ Cynthia Cohen
                                            -----------------
                                                Cynthia Cohen
                                                Chair, Compensation Committee

Agreed:

/s/ Martin E. Hanaka
--------------------
Martin E. HanakaEMPLOYMENT AGREEMENT
                              --------------------

         This  Employment  Agreement is effective as of the 4th day of February,
2002  ("Agreement")  and is made by and between  RMS  Titanic,  Inc.,  a Florida
corporation  ("Company"),  and Arnie Geller,  a resident of the State of Georgia
("Executive").

                              W I T N E S S E T H:
                              --------------------

         WHEREAS, the Company desires to employ Executive in accordance with the
terms and  conditions  contained  in this  Agreement  and  wishes to ensure  the
availability of the Executive's services to the Company;

         WHEREAS, the Executive desires to accept such employment and render his
services  in  accordance  with  the  terms  and  conditions  contained  in  this
Agreement;

         WHEREAS,  the  Executive  and the  Company  desire  to enter  into this
Agreement,  which will fully  recognize  the  contribution  of the Executive and
assure harmonious management of the Company's affairs.

         NOW,  THEREFORE,  in  consideration  of the  promises  and  the  mutual
covenants set forth in this  Agreement,  and intending to be legally bound,  the
Company and the Executive agree as follows:

1.       Term of Employment:
         ------------------

         (a)   Offer/Acceptance/Effective   Date.   The  Company  hereby  offers
employment to the Executive and the Executive hereby accepts  employment subject
to the terms and conditions set forth in this Agreement.

         (b) Term. The term of this  Agreement  shall commence on the date first
indicated  above  ("Effective  Date") and shall remain in effect for a period of
five (5) years thereafter ("Term").

2.       Duties:

         (a) General  Duties.  The  Executive  shall serve as the  President and
Chief Executive Officer of the Company with duties and responsibilities that are
customary  for  such  executives  and  any  other  duties  and  responsibilities
specifically assigned to him by the Board of Directors of the Company.

         (b)      Best  Efforts.  The  Executive  covenants  to use his best
efforts to perform his duties and  discharge  his  responsibilities  pursuant to
this Agreement in a competent, diligent and faithful manner.

                                       1
<PAGE>

         (c) Devotion of Time. The Executive shall devote  substantially  all of
his time, attention,  and energies during normal business hours to the Company's
affairs  (exclusive  of periods of sickness  and  disability  and of such normal
holiday and  vacation  periods as have been  established  by the  Company).  The
Executive  is  permitted  to  fulfill  his  duties  and  obligations  to various
foundations in which he serves as an officer and/or director.

3.       Compensation and Expenses:
         -------------------------

         (a) Base Salary.  For the  services of the  Executive to be rendered by
him under this  Agreement,  the Company  will pay the  Executive  an annual base
salary of $330,750 (the "Base Salary") which shall be subject to increase as set
forth in subsection (b) below.

                  The Base Salary  shall be  prorated  over the time period that
the Executive performs services under this Agreement in any calendar year during
which this Agreement  shall become  effective after January 1st thereof or shall
terminate before December 31st thereof.

                  The Company  shall pay the  Executive his Base Salary in equal
installments no less than semi-monthly.

                  The  Executive  shall  have the  right,  at his  election,  to
receive compensation in the form of the Company's common stock. Such stock shall
be valued for such  purposes at fifty  percent (50%) of the closing bid price of
the  Company's  common  stock as quoted on the OTC  electronic  bulletin  board,
NASDAQ or AMEX (or other  established  exchange)  as of the date of  Executive's
election. Such election may be for all or part of the Executive's  compensation.
The  Executive  shall give the Company  notice of his  election to exercise  his
option to receive common stock in lieu of cash compensation.

         (b)      Base  Salary  Adjustment.  The Base  Salary  shall be  subject
to a minimum  increase of five percent (5%) effective on each anniversary of the
Effective Date during the Term.

         (c)      Bonus. At the discretion of the Company's  Board of Directors,
Executive shall be entitled to receive quarterly, semi-annual or annual bonuses.

         (d) Expenses. In addition to any compensation received pursuant to this
Section  3, the  Company  shall  reimburse  the  Executive  for all  reasonable,
ordinary and necessary  travel,  entertainment  and other  expenses  incurred in
connection  with the  performance of his duties under this  Agreement,  provided
that the  Executive  properly  accounts  for such  expenses  to the  Company  in
accordance with the Company's policies and practices.

                                       2
<PAGE>

         (e) Subsidiary and Affiliate Payments.  In recognition of the fact that
during the course of the performance of his duties hereunder,  the Executive may
provide  substantial  benefits  to  the  Company's  subsidiaries  or  affiliated
companies,  the  Executive and the Company may at any time and from time to time
agree that all or any portion of the  compensation  due the Executive  hereunder
may  be  paid  directly  to  the  Executive  by one  or  more  of the  Company's
subsidiaries or affiliated companies.

         (f) Stock  Options.  The  Executive  or his assigns is  entitled  stock
options to purchase  500,000 shares of the common stock of the Company.  Options
to  acquire  500,000  shares of common  stock  shall be  immediately  vested and
exercisable.  The exercise price for all options granted to Executive  hereunder
shall be $0.40  per  share,  which is the  closing  price of such  shares  as of
February 1, 2002.  The options  shall have an exercise  period of ten (10) years
from the date of this Agreement and shall contain a cashless exercise provision.
The form of the option agreement is attached as Exhibit "A."

4.       Benefits:
         --------

         (a) Vacation.  For each  calendar  year during the Term,  the Executive
shall be entitled to four (4) weeks of vacation  (which  shall  accrue and vest,
except as may be  hereinafter  provided  to the  contrary,  on each  January 1st
thereof)  without loss of compensation or other benefits to which he is entitled
under this Agreement.

                  If the  Executive is unable to take all of his  vacation  days
during a year for which he becomes vested  therein,  then the Executive,  at his
sole  option,  may  elect to (i)  carry  over any  unused  vacation  to the next
calendar year to be used solely in that next year or (ii) receive an appropriate
pro rata  portion  of his Base  Salary  corresponding  to the year in which  the
vacation days vested.

                 The  Executive  shall take his  vacation  at such times as the
Executive  may select and the affairs of the Company or any of its  subsidiaries
or affiliates may permit.

         (b) Employer Benefit Programs. In addition to the compensation to which
the Executive is entitled pursuant to the provisions of Section 3 above,  during
the Term the Executive will be entitled to participate in any stock option plan,
stock purchase plan, pension or retirement plan, and insurance or other employee
benefit plan that is maintained at that time, by the Company for its  employees,
including  programs  of  life,   disability,   basic  medical  and  dental,  and
supplemental medical and dental insurance.

         (c) Automobile  Allowance.  During the term of this Agreement,  the
Company  shall  pay  Executive  up to  an  additional  $1,000  per  month  as an
automobile  allowance plus automobile  insurance to be applied to any automobile
expenses incurred by Executive.

                                       3
<PAGE>

5.       Termination:
         -----------

     (a)  Termination  for Cause.  The Company  may  terminate  the  Executive's
employment  pursuant to this  Agreement for cause upon the  occurrence of any of
the following events:

     (i)  the  Executive  is  convicted of a crime  involving  moral  turpitude,
          dishonesty, fraud, or any other crime relating to the Company; or

     (ii) the Executive engages in conduct that constitutes willful gross
         neglect or willful  gross  misconduct  in carrying out his duties under
         this  Employment  Agreement,  resulting,  in either  case,  in material
         economic harm to the Company,

     (iii)the Executive  otherwise  materially  breaches this Agreement and such
          breach once noticed is not cured by the Executive within thirty days

         Upon any  termination  for cause,  the Executive shall have no right to
compensation,   bonus,  severance,  or  other  reimbursement  pursuant  to  this
Agreement or otherwise.

         (b) Death or Disability.  This Agreement and the Company's  obligations
hereunder  will  terminate  upon the death or disability of the  Executive.  For
purposes of this Section 5(b),  "disability" shall mean that for a period of six
(6)  months  in  any  twelve  month  period,   the  Executive  is  incapable  of
substantially  fulfilling  the  duties  set forth in this  Agreement  because of
physical,  mental or emotional  incapacity  resulting  from injury,  sickness or
disease  determined  by an  independent  physician  mutually  acceptable  to the
Company and the Executive.  Upon any  termination of this Agreement due to death
or disability,  the Company will pay the Executive or his legal  representative,
as the case may be, his Base  Salary  (which may  include any accrued but unused
vacation  time) at such time  pursuant to Section  3(a) through the date of such
termination of employment (or, if terminated as a result of a disability,  until
the date upon which the disability  policy  maintained  pursuant to Section 4(b)
(ii) begins payment of benefits) plus any other compensation that may be due and
unpaid.

         (c) Voluntary Termination by Executive.  Prior to any other termination
of this Agreement,  the Executive may, on thirty (30) day's prior written notice
to the Company  given at any time,  terminate his  employment  with the Company.
Upon any such  termination,  the Company shall pay the Executive his Base Salary
at such time  pursuant to Section 3(a) through the date of such  termination  of
employment  (which  shall  include any vested and  accrued  but unused  vacation
time).

(d) Termination by Company Without Cause. If the Company terminates  Executive's
employment  for any reason  other than "Cause" as defined in Section 5(a) above,
Executive  shall be  entitled  to an  immediate  lump sum  payment  equal to the
cumulative  remaining Base Salary  payments  described in Section 3(a) due under
the remaining term of this Agreement. Executive may elect to take all or part of

                                       4
<PAGE>

such lump sum payment in common  stock,  which shall be valued for such purposes
as provided in Paragraph 3(a) herein. In no event will such payment be less than
299% of the Executive's Base Salary.

6.       Restrictive Covenants:
         ---------------------

         (a) Competition  with the Company.  The Executive  covenants and agrees
that,  during the Term of this  Agreement,  the Executive will not,  without the
prior written consent of the Company,  directly or indirectly (whether as a sole
proprietor,  partner,  stockholder,  director, officer, employee or in any other
capacity as principal or agent), compete with the Company.  Notwithstanding this
restriction,  Executive  shall be entitled to invest in stock of other competing
public companies so long as his ownership is less than five percent (5%) of such
company's outstanding shares.

         (b) Disclosure of Confidential Information.  The Executive acknowledges
that  during  his  employment  he will  gain and  have  access  to  confidential
information  regarding  the Company and its  subsidiaries  and  affiliates.  The
Executive  acknowledges that such confidential  information as acquired and used
by the Company or any of its  subsidiaries or affiliates  constitutes a special,
valuable  and unique  asset in which the Company or any of its  subsidiaries  or
affiliates,  as the case  may be,  holds a  legitimate  business  interest.  All
records,  files,  materials  and  confidential  information  (the  "Confidential
Information") obtained by the Executive in the course of his employment with the
Company  shall be deemed  confidential  and  proprietary  and shall  remain  the
exclusive  property of the Company or any of its subsidiaries or affiliates,  as
the case may be.  The  Executive  will  not,  except in  connection  with and as
required by his performance of his duties under this  Agreement,  for any reason
use for his own benefit or the benefit of any person or entity with which he may
be  associated,  disclose  any  Confidential  Information  to any person,  firm,
corporation,  association  or other entity for any reason or purpose  whatsoever
without the prior consent of the Board of Directors of the Company,  unless such
information  previously shall have become public knowledge  through no action by
or omission of the Executive.

         (c) Subversion,  Disruption or Interference. At no time during the term
of this  Agreement  shall the  Executive,  directly  or  indirectly,  interfere,
induce,  influence,  combine or conspire with, or attempt to induce,  influence,
combine or  conspire  with,  any of the  employees  of, or  consultants  to, the
Company to terminate their relationship with or compete with or ally against the
Company or any of its  subsidiaries  or  affiliates in the business in which the
Company or any of its subsidiaries or affiliates is then engaged in.

         (d)  Enforcement  of  Restrictions.  The parties  hereby agree that any
violation by Executive of the covenants  contained in this Section 6 will likely
cause  irreparable  damage to the Company or its subsidiaries and affiliates and
may, as a matter of course,  be restrained  by process  issued out of a court of
competent jurisdiction, in addition to any other remedies provided by law.

                                       5
<PAGE>

7.       Change of Control:
         -----------------

     (a) A " Change of  Control"  shall  mean the  occurrence  of any one of the
following events:

(i)      during  the term of this  Agreement,  three of the four  members of the
         Board of  Directors,  a majority as of the  Effective  Date,  no longer
         comprise a majority of the Board of Directors of the Company; or

(ii)     any "person," as such term is used in Sections 3(a)(9) and 13(d) of the
         Securities  Exchange Act of 1934, as amended  (other than the Executive
         or entities controlled by the Executive), becomes a "beneficial owner,"
         as such term is used in Rule 13d-3  promulgated  under that act, of 25%
         or more of the voting power of the Company; or

(iii)    all or  substantially  all of the assets or  business of the Company is
         disposed of pursuant to a merger,  consolidation  or other  transaction
         (unless  the  shareholders  of the  Company  immediately  prior to such
         merger,  consolidation or other transaction  beneficially own, directly
         or indirectly,  in substantially  the same proportion as they owned the
         voting power of the Company, all of the voting power or other ownership
         interests  of the  entity or  entities,  if any,  that  succeed  to the
         business of the Company);

         (b) The Company and Executive  hereby agree that if Executive is in the
employ of the  Company  on the date on which a Change  of  Control  occurs  (the
"Change of Control Date"), the Company will continue to employ the Executive and
the Executive will remain in the employ of the Company for the period commencing
on the  Change of  Control  Date and ending on the  expiration  of the Term,  to
exercise such  authority and perform such executive  duties as are  commensurate
with the authority  being  exercised and duties being performed by the Executive
immediately  prior to the Change of Control  Date. If after a Change of Control,
the Executive is requested,  and, in his sole and absolute discretion,  consents
to change his  principal  business  location,  the Company  will  reimburse  the
Executive for his relocation  expenses,  including  without  limitation,  moving
expenses,  temporary  living and travel  expenses for a time while  arranging to
move his residence to the changed  location,  closing costs, if any,  associated
with  the sale of his  existing  residence  and the  purchase  of a  replacement
residence at the changed  location,  plus an additional  amount  representing  a
gross-up of any state or federal  taxes  payable by Executive as a result of any
such  reimbursements.  If the Executive shall not consent to change his business
location,  the  Executive  may continue to provide the services  required of him
hereunder in Atlanta,  Georgia,  and the Company  shall  continue to maintain an
office for the Executive at that location commensurate with the Company's office
prior to the Change of Control Date.

                                       6
<PAGE>

         (c) During the  remaining  Term after the Change of Control  Date,  the
Company will (i) continue to honor the terms of this  Agreement,  including Base
Salary and other  compensation set forth in Section 3 hereof,  and (ii) continue
employee  benefits  as set forth in  Section 4 hereof at levels in effect on the
Change of Control  Date (but  subject to such  reductions  as may be required to
maintain  such  plans in  compliance  with  applicable  federal  law  regulating
employee benefits).

         (d) If during the remaining Term on or after the Change of Control Date
there shall have occurred a material  reduction in Executive's  compensation  or
employment  related benefits,  elimination of the Executive's office in Atlanta,
Georgia,  a  material  change  in  Executive's  status,  working  conditions  or
management responsibilities,  or a material change in the business objectives or
policies of the  Company and the  Executive  voluntarily  terminates  employment
within  ninety  (90)  days of any such  occurrence,  or the last in a series  of
occurrences,  then the  Executive  shall be entitled to receive,  subject to the
provisions of subparagraphs  (e) and (f) below, a lump-sum cash payment equal to
299% of  Executive's  current Base Salary in addition to any other  compensation
that may be due and owing to the Executive under Section 3 hereof.

         (e) The amounts payable to the Executive  under any other  compensation
arrangement  maintained by the Company which became payable after payment of the
lump-sum  provided for in paragraph  (d), upon or as a result of the exercise by
Executive  of rights which are  contingent  on a Change of Control (and would be
considered  a  "parachute   payment"  under  Internal   Revenue  Code  280G  and
regulations  thereunder)  shall be reduced to the extent  necessary so that such
amounts,  when added to such lump-sum do not exceed 299% of the Executive's Base
Salary (as computed in accordance with  provisions of the Internal  Revenue Code
of 1986, as amended and any regulations  promulgated thereunder) for determining
whether the Executive has received an excess parachute payment.  Any such excess
amount shall be deferred and paid in the next tax year.

         (f) In the event of a proposed  Change in  Control,  the  Company  will
allow the  Executive to  participate  in all meetings and  negotiations  related
thereto.

8. Assignability: The rights and obligations of the company under this Agreement
shall inure to the benefit of and be binding upon the  successors and assigns of
the  Company,  provided  that such  successor  or assign  shall  acquire  all or
substantially  all of the assets and business of the company.  The Executive may
assign  his  rights to  compensation  under  this  agreement  to a  corporation,
partnership or trust controlled by the Executive.

9.  Severability:  If any provision of this Agreement is deemed to be invalid or
unenforceable or is prohibited by the laws of the state or jurisdiction where it
is to be performed,  this  Agreement  shall be  considered  divisible as to such
provision and such provision  shall be inoperative in such state or jurisdiction
and shall not be part of the consideration  moving from either of the parties to
the  other.  The  remaining  provisions  of this  Agreement  shall be valid  and
binding.

                                       7
<PAGE>

     10.  Notice:  Notices given  pursuant to the  provisions of this  Agreement
shall be sent by certified mail, postage prepaid,  or by overnight  courier,  or
telecopier to the following addresses:

                  To the Company:   901 Chestnut Street
                                    Suite A
                                    Clearwater, FL 33756

                  To the Executive: 3340 Peachtree Road, N.E.
                                    Suite 1225
                                    Atlanta, GA  30326

                  Either  party  may,  from  time to time,  designate  any other
address  to which any such  notice to it or him shall be sent.  Any such  notice
shall be deemed to have been  delivered  upon the  earlier of actual  receipt or
four days after deposit in the mail, if by certified mail.

11.  Indemnification:  The  Company  and  the  Executive  acknowledge  that  the
Executive's services as an officer of the Company exposes the Executive to risks
of  personal   liability  arising  from,  and  pertaining  to,  the  Executive's
participation  in the  management  of the  Company.  The Company  shall  defend,
indemnify and hold harmless the Executive from any actual cost,  loss,  damages,
attorneys' fees, or liability  suffered or incurred by the Executive arising out
of, or connected  to, the  Executive's  services as an officer of the Company or
any of its current, former, or future subsidiaries to the fullest extent allowed
by law. The Company will not have any  obligation  to the  Executive  under this
section  for any loss  suffered  if the  Executive  voluntarily  pays,  settles,
compromises, confesses judgment for, or admits liability with respect to without
the  approval  of the  Company.  Within  thirty  (30) days  after the  Executive
receives notice of any claim or action which may give rise to the application of
this section,  the Executive  shall notify the Company or its counsel in writing
of the claim or action with a copy thereof.  The  Executive's  failure to timely
notify the  Company of the claim or action will  relieve  the  Company  from any
obligation to the Executive  under this section.  The Executive will  reasonably
assist the Company in the defense of any action.  The Company will not indemnify
Executive  for any  intentional  acts or  misconduct  engaged  in by  Executive,
including,  but not limited to, any acts which could result in cause termination
pursuant to section 5(a), above.

12.      Miscellaneous:
         -------------

     (a) Governing  Law. This  Agreement  shall be governed by and construed and
enforced in accordance with the laws of the State of Georgia.

     (b) Waiver/Amendment. The waiver by any party to this Agreement of a breach
of any provision hereof by any other party shall not be construed as a waiver of
any  subsequent  breach by any party.  No  provision  of this  Agreement  may be
terminated,  amended,  supplemented,   waived  or  modified  other  than  by  an
instrument in writing  signed by the party against whom the  enforcement  of the
termination, amendment, supplement, waiver or modification is sought.

                                       8
<PAGE>

     (c)  Attorneys'  Fees.  In the  event  any  action  is  commenced,  for the
enforcement  of this  Agreement,  the  prevailing  party  shall be  entitled  to
reasonable attorneys' fees, costs and expenses.

     (d) Entire  Agreement.  This  Agreement  represents  the  entire  agreement
between the parties with respect to the subject  matter  hereof and replaces and
supersedes any prior agreements or understandings  except as it relates to stock
options previously authorized for Executive.

     (e)  Counterparts.  This Agreement may be executed in counterparts,  all of
which shall constitute one and the same instrument.

     IN WITNESS  WHEREOF,  the Company and the Executive have duly executed this
Employment Agreement as of the date first above written.

                                    COMPANY:

                                    RMS TITANIC, INC.
------------------------------

                                    By:
                                       -----------------------------------------
                                    Print:
                                          --------------------------------------
                                    Its:
                                        ----------------------------------------

                                    EXECUTIVE:
------------------------------

                                    Print:
                                          --------------------------------------

                                       9

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