September 8, 2009 (FinancialWire) — Premier Exhibitions, Inc. (NASDAQ: PRXI) has signed a three-year agreement with Christopher J. Davino to serve as Premier’s president and chief executive officer. Davino has served as Premier’s interim president and chief executive officer since the end of January 2009. Davino has also served as a member of Premier’s board of directors since January 2009.

Pursuant to the Agreement, Davino will receive an annual base salary of $290,000 and an annual target incentive bonus opportunity equal to 50% of his base salary. Premier also made a one-time stock option grant to Davino providing for the purchase of 1,170,000 shares of Premier’s common stock. The options have an exercise price equal to the closing price of Premier’s common stock on the NASDAQ Global Market on the date of grant and will vest over three years.

Mark Sellers, Premier’s chairman of the board, commented: “Chris has done a great job cleaning up a very difficult situation. He has worked tirelessly to rationalize our cost structure, develop from scratch a systematic process for booking new exhibitions, renegotiate contracts with contractual partners, and raise capital so that the company can get past this difficult period. He has proven over the past seven months that he’s the right person for the CEO job, and I’m happy he’s agreed to join us permanently.”

Premier will be filing a copy of Davino’s employment agreement and stock option agreement with the SEC in a Current Report on form 8-K.

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