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Non-Tech : Diamondhead Casino Corporation (DHCC)

DHCC 0.00120

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Oct 20 11:07 AM EST

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From: leigh aulper	6/16/2010 5:51:13 AM
	of 48

On June 9, 2010, the Board of Directors elected Martin C. Blount as a Director of the Company. Mr. Blount was not assigned to any Committee of the Board. Mr. Blount is currently a Principal in Blount Asset Management, an asset management firm which handles investments for institutions and high net worth individuals and has over $100 million under current management. Prior to his election as a Director, Mr. Blount had entered into various arrangements with the Company whereby he would be entitled to a commission in the event he was successful in securing a loan, other financing, or a joint venture partner for the Company. Specifically, he is entitled to a maximum of 4% of the amount of any debt financing obtained and 6% of the amount of any equity investment obtained as a result of his efforts. In addition, Mr. Blount has the option to convert up to $750,000 of any commission earned into an equivalent number of common shares at $ .75 per share. The conditions of the arrangements survive his election as a Director.

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