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PRXI > SEC Filings for PRXI > Form 8-K on 27-Jan-2014All Recent SEC Filings

Show all filings for PREMIER EXHIBITIONS, INC.



Entry into a Material Definitive Agreement, Financial Statements and Ex

Item 1.01 Entry into a Material Definitive Agreement

On January 24, 2014, Premier Exhibition Management, LLC (the "Company"), a subsidiary of Premier Exhibitions, Inc., entered into a License Agreement with Semmel Concerts GmbH, a German entity, ("Semmel") to present an exhibition based on King Tutankhamun. The term of the Agreement is five (5) years from the opening date of the exhibition.

The exhibition, titled The Discovery of King Tut, uses high quality artistic and scientific reproductions of artifacts found in the tomb of King Tutankhamun to recreate the moment of Howard Carter's discovery of the lost tomb.

Pursuant to the License Agreement, the Company and Semmel will jointly produce and tour the exhibition. Both Semmel and the Company will be paid a management fee for each venue where the exhibition is presented, in the amount of $50,000 for the Company and $50,000 for Semmel for the first venue, $37,500 for the Company and $12,500 for Semmel for the second venue, and $25,000 for the Company and $7,500 for Semmel for each subsequent venue. After the payment of the costs of presenting the exhibition at each venue, including these management fees, the first $1.075 million in tour profits from the exhibition will be paid 70% to Semmel and 30% to the Company, and the remaining tour profits will be paid 50% to Semmel and 50% to the Company.

This summary does not purport to be complete and is qualified by reference to the full text of the License Agreement, a copy of which is filed as an exhibit to this Current Report on Form 8-K and is hereby incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1 License Agreement between Premier Exhibition Management LLC and Semmel Concerts GmbH, dated January 24, 2014

99 Press Release dated January 27, 2014

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