On October 15, 2018, the Compensation Committee of the Board of Directors of Collectors Universe, Inc. approved and, according to that approval, the company and Joseph J. Orlando, its Chief Executive Officer, entered into a First Amendment to Employment Agreement, which extends the term of Mr. Orlando's existing Employment Agreement and his employment thereunder for one year to October 9, 2019 and makes certain other related changes thereto. Clinton Allen, Robert G. Deuster and Van Simmons, all of whom are non-employee directors, have decided to retire from the Board of Directors and have advised the Chairman of the Board they will not be standing for re-election to the Board at the upcoming Annual Stockholders Meeting to be held on December 4, 2018. Their decisions to retire from the Board are not the result of any disagreements with the Board of Directors or management of the company.