Document:

AMENDMENTS TO BYLAWS OF RMS TITANIC, INC.

         I, G. MICHAEL HARRIS,  do hereby certify that I am the duly elected and
qualified   Secretary  of  RMS  Titanic,   Inc.,  a  Florida   corporation  (the
"Corporation"),  and hereby certify that the Corporation through the approval of
all of its Board of Directors  taken at a Special  Meeting of Directors  held on
January 18,  2000,  hereby adopt the  following  modifications,  amendments  and
deletions to its Bylaws to be effective  immediately  upon adoption by the Board
of  Directors.  Each of these  amendments,  modifications  or  deletions  to the
Corporation's  Bylaws shall be considered  independent  of each other and if any
such  amendment,  deletion  or  modification  is  considered  void or  otherwise
overturned  by a court  of  competent  jurisdiction,  then all  other  remaining
modifications,  deletions  or additions to the Bylaws shall remain in full force
and effect, it being the intent that each modification, amendment or deletion be
considered independent. The text of the amendments,  modifications and deletions
to the Corporation's Bylaws are as follows:

                      ARTICLE II. MEETINGS OF SHAREHOLDERS

         Section 3.  captioned  Special  Meetings  is deleted  in its  entirely
and replaced with the following provision.

         SECTION 3. SPECIAL  MEETINGS.  Special meetings of the shareholders may
         be called for any purpose or purposes by the Board of Directors, by the
         Chairman  of the Board or by the  President  of the  Corporation  or as
         otherwise   provided  by  law.   Special  meetings  may  be  called  by
         shareholders  owning fifty percent (50%) of the shares of capital stock
         of the  Corporation  issued and  outstanding and entitled to vote. Only
         such business as is stated in the written  notice of a special  meeting
         may be acted upon thereat.

         Section 5.  captioned  Closing of Transfer Books and Fixing Record Date
is amended by adding the following sentences at the end of Section 5

         "The list shall be prima facie evidence as to who are the  shareholders
         entitled  to  examine  such  list  or to vote  at any  meeting.  If the
         requirements  of this Section have not been complied  with, the meeting
         shall,  upon the demand of any  stockholder  in person or by proxy,  be
         adjourned until the requirements  are complied with.  Failure to comply
         with the  requirements of this Section shall not affect the validity of
         any  action  taken  at such  meeting  prior to the  making  of any such
         demand."

         Section 7. captioned Quorum is amended by adding the following
paragraph to Section 7.

         When any meeting is convened the presiding officer,  if directed by the
         Board, may adjourn the meeting if the Board determines that adjournment
         is necessary or appropriate to enable the  shareholders (i) to consider
         fully  information  which  the  Board  determines  has  not  been  made
         sufficiently  or timely  available to shareholders or (ii) otherwise to
         exercise  effectively  their voting rights.  Prior to the time when any
         meeting is convened the officer who would be the  presiding  officer at
         such meeting, if directed by the Board, may postpone the meeting if the
         Board determines that adjournment is necessary or appropriate to enable
         the  shareholders  (a) to consider  fully  information  which the Board
         determines  has not been  made  sufficiently  or  timely  available  to
         shareholders  or (b)  otherwise  to exercise  effectively  their voting
         rights.

<PAGE>

         A new Section 4. is added to Article II replacing the current Section 4
and shall read as follows:

         SECTION 4. ADVANCE  NOTICE OF BUSINESS TO BE TRANSACTED AT  STOCKHOLDER
         MEETINGS.  No business may be transacted  at a meeting of  shareholders
         other than the business  that is either (a)  specified in the notice of
         meeting (or any  supplement  thereto)  given by or at the action of the
         Board of Directors  (or any duly  authorized  committee  thereof),  (b)
         otherwise properly brought before the meeting by or at the direction of
         the Board of Directors (or any duly  authorized  committee  thereof) or
         (c) otherwise  properly  brought before the meeting by the shareholders
         of the  Corporation  in accordance  with the provisions of these Bylaws
         (as amended).

         In addition to any other  applicable  requirements,  for business to be
         properly brought before a meeting by a stockholder,  such  shareholders
         must have given  timely  notice  thereof in proper  written form to the
         Secretary of the Corporation.

         To be timely, a stockholder's notice to the Secretary must be delivered
         to or mailed and  received at the  principal  executive  offices of the
         Corporation not less than forty-five (45) days nor more than sixty (60)
         days prior to the date of the meeting of shareholders.

         To be in proper  written form a  stockholder's  notice to the Secretary
         must set forth as to each  matter  such  stockholder  proposes to bring
         before the meeting (i) a brief  description of the business  desired to
         be brought  before the  meeting and the  reasons  for  conducting  such
         business  at the  meeting,  (ii) the name and  record  address  of such
         stockholder,  (iii) the class or series and number of shares of capital
         stock of the Corporation  which are owned  beneficially or of record by
         such   stockholder,   (iv)  a  description  of  all   arrangements   or
         understandings between such stockholder and any other person or persons
         (including  their  names)  in  connection  with  the  proposal  of such
         business  by  such  stockholder  and  any  material  interest  of  such
         stockholder of such business, (v) if the Corporation is a Section 12(g)
         reporting  company  under  the  Securities  Exchange  Act of  1934,  as
         amended,  all  information  as required by Schedule  14A under this Act
         (i.e.,  the  proxy  rules),   and  (vi)  a  representation   that  such
         stockholder  intends  to appear  in  person  or by proxy at the  annual
         meeting to bring such business before the meeting.

         No business  shall be  conducted  at a meeting of  shareholders  except
         business  brought before the meeting in accordance  with the procedures
         set forth in this Article II. Section 4, provided,  however, that, once
         business has been  properly  brought  before the meeting in  accordance
         with such  procedures,  nothing in this Article II.  Section 4 shall be
         deemed to preclude  discussion by any stockholder of any such business.
         If the Chairman of a meeting  determines that business was not properly
         brought before the meeting in accordance with the foregoing procedures,
         the  Chairman  shall  declare at the meeting  that the business was not
         properly  brought  before the  meeting and such  business  shall not be
         transacted.

                             ARTICLE III. DIRECTORS

         Section 4 captioned Removal of Directors is amended to read as follows:

<PAGE>

                  Except as  otherwise  provided  by law or the  Certificate  of
                  Incorporation,  any  director or the entire board of directors
                  may be  removed,  with or  without  cause,  by the  holders of
                  eighty percent (80%) of the shares then entitled to vote at an
                  election of directors.

         A new Section 12. is added to Article III. and shall read as follows:

                  SECTION  12.   NOMINATION  OF  DIRECTORS  AND  ADVANCE  NOTICE
                  THEREOF. Only persons who are nominated in accordance with the
                  following   procedures  shall  be  eligible  for  election  as
                  directors  of the  Corporation,  nominations  of  persons  for
                  election to the Board of  Directors  may be made at any annual
                  meeting  of  shareholders,   or  at  any  special  meeting  of
                  shareholders called for the purpose of electing directors, (a)
                  by or at the  direction of the board of Directors (or any duly
                  authorized  committee  thereof) or (b) by the  shareholders of
                  the  Corporation  in  accordance  with the  provisions  of the
                  Bylaws (as amended)

                  In  addition  to  any  other  applicable  requirements,  for a
                  nomination to be made by a stockholder,  such stockholder must
                  have given timely notice thereof in proper written form to the
                  Secretary of the Corporation.

                  To be timely, a stockholder's  notice to the Secretary must be
                  delivered to or mailed and received at the principal executive
                  offices of the  Corporation not less than forty-five (45) days
                  nor more than sixty (60) days prior to the date of the meeting
                  of shareholders.

                  To be in proper  written form, a  stockholder's  notice to the
                  Secretary  must  set  forth  (a) as to each  person  whom  the
                  stockholder  proposes to nominate  for  election as a director
                  (i) the name, age,  business address and residence  address of
                  the person, (ii) the principal occupation or employment of the
                  person  (iii)  the  class or  series  and  number of shares of
                  capital stock of the Corporation which are owned  beneficially
                  or of record  by the  person  and (iv) any  other  information
                  relating to the person that would be required to be  disclosed
                  in a proxy  statement or other filings  required to be made in
                  connection  with  solicitations  of proxies  for  election  of
                  directors  pursuant to Section 14 of the  Securities  Exchange
                  Act of 1934, as amended (the  "Exchange  Act"),  and the rules
                  and  regulations  promulgated  thereunder;  and  (b) as to the
                  stockholder  giving the notice (i) the name and record address
                  of such  stockholder,  (ii) the class or series  and number of
                  shares of  capital  stock of the  Corporation  which are owned
                  beneficially  or  of  record  by  such  stockholder,  (iii)  a
                  description of all arrangements or understandings between such
                  stockholder and each proposed  nominee and any other person or
                  persons   (including   their  names)  pursuant  to  which  the
                  nomination(s)  are to be  made  by  such  stockholder,  (iv) a
                  representation  that  such  stockholder  intends  to appear in
                  person or by proxy at the  meeting  to  nominate  the  persons
                  named in its notice and (v) any other information  relating to
                  such  stockholder  that would be required to be disclosed in a
                  proxy  statement  or  other  filings  required  to be  made in
                  connection  with  solicitations  of proxies  for  election  of
                  directors  pursuant to Article II,  Section 14 of the Exchange
                  Act and the rules and regulations promulgated thereunder. Such
                  notice  must  be  accompanied  by a  written  consent  of each
                  proposed nominee to being named as a nominee and to serve as a
                  director if elected.

<PAGE>

                  No person  shall be eligible for election as a director of the
                  Corporation unless nominated in accordance with the procedures
                  set froth in this Article III.  Section 12. If the Chairman of
                  the  meeting  determines  that a  nomination  was not  made in
                  accordance with the foregoing  procedures,  the Chairman shall
                  declare to the meeting that the  nomination  was defective and
                  such defective nomination shall be disregarded.

         Article  XII.  Section  10.  captioned  Action by  Consent is amended
by deleting the current language and adding the following paragraph:

         "Any action by written  consent of  shareholders  must be signed by the
         holders of eighty  percent (80%) of the  outstanding  stock entitled to
         vote if such  action is for the  removal of any  director or the entire
         Board of  Directors.  Any written  consent  solicitation  must strictly
         comply  with the  requirements  of  Chapter  607.07,04  of the  Florida
         General Corporation Law. All stockholder written consent  solicitations
         must contain the  information  described  in Article II,  Section 4 and
         Article  III  Section  12. of the  Bylaws  (as  amended  hereby)  to be
         effective.  Failure to include the information  described in Article II
         Section 4,  Article III.  Section 12. shall result in such  stockholder
         consent  solicitation  being  considered void. It is the intent of this
         Bylaw modification to provide all shareholders  sufficient  information
         to consider  fully the proposals to be acted upon the  shareholders  so
         that the shareholders  may effectively  exercise their voting rights by
         having the same information made available to shareholders in a written
         consent solicitation that would otherwise be made available in a notice
         of a meeting pursuant to the provisions of these Bylaws (as amended)."

         Article XIII.  captioned  Amendments is amended by deleting the current
language and adding the following provision.

                  "Shareholders  of the  Corporation  shall  have  the  power to
                  alter,  repeal,  amend  or  rescind  these  Bylaws;  provided,
                  however,  that the  affirmative  vote of at  least  two-thirds
                  (2/3's) of the outstanding shares of the Corporation  entitled
                  to vote thereon,  voting together as a single class,  shall be
                  required for shareholders of the Corporation to adopt,  amend,
                  alter, repeal or rescind the Bylaws."

         I hereby  certify  that the  above  is a true and  correct  copy of the
Amendments to Bylaws of RMS Titanic,  Inc. duly adopted at a Special  Meeting of
the Board of Directors held at 17 Battery  Place,  Suite 203, New York, New York
on January 18, 2000.

                               G. Michael Harris
                               Director, Secretary

                               Arnie Geller
                               Director,
                               President and Chief Executive Officer

                              (SEAL)AGREEMENT ("Agreement") made this 18th day of April, 2000, by and among
WHITESTAR  MARINE  RECOVERY,  LTD., a British Virgin Islands  corporation  and a
wholly-owned  subsidiary  (hereinafter  referred  to as  the  "Company")  of RMS
TITANIC,  INC.,  ARGOSY  INTERNATIONAL,  LTD.  ,  a  Turks  and  Caicos  Islands
corporation ("Lender") and GRAHAM JESSOP ("Jessop").

                              W I T N E S S E T H :

         WHEREAS,  Lender  and  RMS  Titanic,  Inc.  signed  an  agreement  (the
"Acquisition   Agreement")   which   Acquisition   Agreement   was   consummated
simultaneously  with the execution of this  Agreement and which provides for the
acquisition by RMS Titanic,  Inc. from Lender of certain assets (the "Intangible
Assets") in  consideration of 600,000 shares of common stock of the RMS Titanic,
Inc.; and

         WHEREAS, Jessop is an employee of Lender; and

         WHEREAS, the parties hereto desire to provide for the performance by
Jessop of services for the Company.

         NOW, THEREFORE, in consideration of the mutual covenants , the parties
agree as follows:

         1. Loan Out.  Lender  shall  cause  Jessop to perform  services  for
the Company in accordance with this Agreement.

         2.  Jessop's  Acknowledgment.  Jessop  acknowledges  that  he (a)  will
perform  the  services  for  the  Company  and (b)  agrees  to be  bound  by the
provisions of this Agreement.

         3. Duties. Except with respect to the salvage ship RMS Titanic,  Jessop
shall be in charge  of doing  all  procedures  for (a)  investigating  potential
salvaging of sunken ships;  (b) removing cargo in connection  with the salvaging
of sunken ships and (c)  exploiting a sunken ship and the cargo removed from the
sunken ship so salvaged.  Jessop shall be the salvage master of the Company, but
shall be subject to the Board of Directors of the Company. If elected an officer
or  director of the  Company,  he shall  perform  such  duties  without  further
compensation.  During the term  hereof,  Jessop  shall  devote his full time and
attention  to the  business  and  affairs of the  Company and shall use his best
efforts to advance the best interests of the Company at all times.

<PAGE>

         4. Term.  The term of the duties of Jessop  shall  commence on the date
hereof and terminate on January 3, 2003.

         5. Place of Performance.  Jessop shall perform his duties  hereunder at
the offices of Lender; provided,  however, that he may be reasonably required to
travel and render services in different  locations from time to time incident to
the performance of such duties.

         6.   Compensation.

                (a) The Company  shall pay Lender and Lender  shall accept basic
compensation  for all of Jessop's  services  provided by Lender and performed by
Jessop  hereunder  of a salary  at the  annual  rate of  $125,000  to be paid in
bi-weekly  installments.  The Company shall be entitled to withhold such amounts
on account of payroll  taxes and similar  matters as are required by  applicable
law,  rule,  or  regulation  of any  appropriate  governmental  authority.  Said
compensation  shall continue to be paid during any period of  consecutive  three
months  physical or mental  incapacity  unless and until Jessop's  employment is
terminated as herein provided.

              (b) During the term of Jessop's  services  hereunder,  the Company
shall pay the  reasonable  expenses  incurred by Jessop or Lender (within limits
that  may be  established  by the  Board of  Directors  of the  Company)  in the
performance  of his duties  hereunder (or shall  reimburse  Jessop and Lender on
account of such expenses  paid  directly by Jessop or Lender)  promptly upon the
submission to the Company by Lender and Jessop of appropriate vouchers.

                                       2
<PAGE>

         7. Stock  Options.  Upon RMS  Titanic,  Inc.'s  adoption of an employee
stock option plan, the Company shall grant Jessop stock options pursuant to such
adoption plan in the  aggregate  amount of 250,000  options to purchase  250,000
shares of the Company's  common  stock.  The exercise of such option shall be as
follows:
              (a) 83,333  options to be exercised  during the period  commencing
April 1, 2000 and  terminating  at 11:00  o'clock  p.m.  on March 31, 2003 at an
exercise price of $3.00 per share;

              (b) 83,333  options to be exercised  during the period  commencing
April 1, 2001 and  terminating  at 11:00  o'clock  p.m.  on March 31, 2003 at an
exercise price of $4.00 per share;

              (c) 83,334 options to be exercised during the period  commencing
on the date hereof and terminating at 11:00 o'clock p.m. on March 31, 2003 at an
exercise price of $5.00 per share.

         8.   Inventions and Confidential Information.

             (a) Any and all inventions,  products,  discoveries,  improvements,
processes,  formulae,  manufacturing  methods or techniques,  designs, or styles
(collectively  hereinafter  referred to as  "Inventions")  made,  developed,  or
created by Lender and Jessop (alone or in  conjunction  with others)  during the
term  of  Jessop's  services  for  the  Company  and for a  period  of one  year
thereafter  that may be  directly  or  indirectly  useful in or  related  to the
business of, or tests being carried out by the Company, RMS Titanic, Inc. or any
of RMS Titanic, Inc.'s or the Company's subsidiaries shall be promptly disclosed
by Lender and Jessop to the Board of  Directors  of the Company and shall be the
Company's exclusive property.

              (b) Lender and Jessop will upon the Company's request, execute any
documents  necessary  or advisable  in the opinion of the  Company's  counsel to
direct issuance of patents to the Company with respect to Inventions that are to
be the  Company's  exclusive  property  under  this  Section 8 or to vest in the
Company title to such Inventions,  the expense of securing any patent,  however,
to be borne by the Company.

                                       3
<PAGE>

               (c) Lender and Jessop  will keep  confidential  and will hold for
the Company's sole benefit any Invention  that is to be the Company's  exclusive
property under this Section 8 for which no patent is issued or not applied.

               (d) Each of Lender and Jessop will not without the prior  written
consent of the Board of  Directors  of the  Company  (i) use for his  benefit or
disclose  (except in the ordinary  course of his performance of services) at any
time  thereafter,  any  information  that was obtained or developed by it or him
while in the  performance  of Jessop's  services for the Company with respect to
any  of  the  Inventions  or  any  customers,  suppliers,  products,  employees,
financial  affairs,  or  methods  of  design,   distribution,   procurement,  or
manufacture of the Company, RMS Titanic,  Inc. or any of RMS Titanic,  Inc.'s or
the Company's subsidiaries,  or any confidential matter or (ii) take with Jessop
upon  leaving the  Company's  term of Jessop's  services  any  document or paper
relating to any of the foregoing.

               (e) The  provisions  of this  Section 8 shall be binding upon the
heirs, successors and legal representatives of Jessop.
         9. Non-Solicitation.  Jessop shall not directly or indirectly,  employ,
solicit for  employment,  or advise or  recommend to any other person that he or
they employ or solicit for employment, any employee of the Company, RMS Titanic,
Inc. or of RMS Titaniic,  Inc.'s or the Company's  subsidiaries  for a period of
three years thereafter.

         10.   Termination.

              (a)  Notwithstanding  any  provision  of  this  Agreement  to  the
contrary, Jessop's services and the rights and obligations of Lender pursuant to

                                       4
<PAGE>

this Agreement shall terminate upon Jessop's death. In addition, the Company may
terminate  Jessop's  services by giving Jessop and Lender written notice of such
termination  (i) for cause,  as  hereinafter  defined;  (ii) if Jessop or Lender
shall violate any of the  provisions  of paragraphs 8 and 9 hereof;  or (iii) if
Jessop shall become  physically or mentally  incapacitated and by reason thereof
unable to perform his duties hereunder for a period of three consecutive months.
For the purpose of clause (i) of this subparagraph  9(a), "for cause" shall mean
any of the  following  events:  (x)  conviction  in a court  law of any crime or
offense  involving  money  or  other  property  of  the  Company  or  any of its
subsidiaries,  or any felony; or (y) violation of specific written directions of
the Board of  Directors  of the  Company;  or (z)  failure or refusal to perform
duties in accordance with this Agreement,  provided, however, no discharge shall
be deemed "for cause" under this clause (z) unless  Jessop and Lender shall have
first  received  written  notice  from the  Board of  Directors  of the  Company
advising  of the acts or  omissions  that  constitute  the failure or refusal to
perform his duties,  and such failure or refusal  continues  after he shall have
had a reasonable opportunity to correct the acts or omissions so complained of.

              (b) The Company's right of termination shall be in addition to and
shall not  affect  its rights and  remedies  under  paragraphs  8 and 11 of this
Agreement,  and such rights and remedies  under such  paragraphs  shall  survive
termination of this Agreement and Jessop's services to the Company.

              (c) In the event of termination of Jessop's  services  pursuant to
the provisions of this Agreement,  neither Jessop or Lender shall have any right
to  receive  any  compensation  for any  period  subsequent  to the date of such
termination.

                                       5
<PAGE>

         11. Default. Lender and the Company recognize that Jessop's services to
be performed hereunder are of a unique,  special,  and extraordinary  character,
and that in the  event  of any  conduct  by  Jessop  and  Lender  violating  any
provision of this Agreement,  the Company shall be entitled, if it so elects, to
institute  and  prosecute  proceedings  in any court of competent  jurisdiction,
either at law or in  equity,  to obtain  damages  for such  conduct,  to enforce
specific performance of such provision, to enjoin Jessop and/or Lender from such
conduct, or to obtain any other relief, or any combination of the foregoing that
the Company may elect to pursue.

         12. Notices.  All notices,  requests and other  communications shall be
deemed duly given if mailed,  postage prepaid,  registered or certified,  return
receipt  requested,  addressed to the parties  below as follows or telecopied to
the parties at their fax numbers set forth below:

                  If to the Company:
                  17 Battery Place
                  New York, New York 10004
                  Tel. (212) 558-6300
                  Fax (212) 482-1912

                  If to Lender:

                  c/o Graham Jessop
                  Cour Bizet
                  Les Bas Fald
                  Point El'Eveque
                  France 14120
                  Tel. 33-231-648-164
                  Fax 33-231-647-838

                  If to Jessop:

                  Cour Bizet
                  Les Bas Fald
                  Point El'Eveque
                  France 14120
                  Tel. 33-231-648-164
                  Fax 33-231-647-838

or such  other  address or fax  number as either  party may give by  appropriate
notice.

                                       6
<PAGE>

          IN WITNESS  WHEREOF,  the parties have executed this Agreement the day
     and year first above written.

                         WHITESTAR MARINE RECOVERY, LTD.

                         By
                           -----------------------------
                                    President

                         ARGOSY INTERNATIONAL, LTD.

                         By
                           -----------------------------
                                    President

                         -------------------------------
                                 GRAHAM JESSOP

                                       7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}]]