-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KY6b5jifwnJDuF8Rrmvc8TUMhcxynYL1fREjrjHrG1FJL4eFegM1YBj0UgcWhCe8
 AAtLhNnjZLJvuIxGor8wjA==

<SEC-DOCUMENT>0001193125-10-012555.txt : 20100126
<SEC-HEADER>0001193125-10-012555.hdr.sgml : 20100126
<ACCEPTANCE-DATETIME>20100126091205
ACCESSION NUMBER:		0001193125-10-012555
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20100126
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100126
DATE AS OF CHANGE:		20100126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ODYSSEY MARINE EXPLORATION INC
		CENTRAL INDEX KEY:			0000798528
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		IRS NUMBER:				841018684
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31895
		FILM NUMBER:		10546147

	BUSINESS ADDRESS:	
		STREET 1:		5215 WEST LAUREL STREET
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33607
		BUSINESS PHONE:		(813) 876-1776

	MAIL ADDRESS:	
		STREET 1:		5215 WEST LAUREL STREET
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33607

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNIVERSAL CAPITAL CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P
STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:4px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>WASHINGTON, D.C. 20549 </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P
STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>FORM 8-K </B>
</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P
STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>CURRENT REPORT </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman"
SIZE="3"><B>Pursuant to Section&nbsp;13 or 15(d) of the </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Securities Exchange Act of 1934 </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Date of Report (Date of earliest event reported): January&nbsp;26, 2010 </B></FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px"
ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="6"><B>O<SMALL>DYSSEY</SMALL> M<SMALL>ARINE</SMALL> E<SMALL>XPLORATION</SMALL>, I<SMALL>NC</SMALL>. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(Exact name of registrant as specified in its charter) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P
STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Nevada</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>001-31895</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>84-1018684</B></FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(State or Other Jurisdiction</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"
ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>of Incorporation)</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Commission</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>File Number)</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(IRS Employer</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>Identification No.)</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>5215 West Laurel Street </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Tampa, Florida 33607 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Address of Principal
Executive Offices and Zip Code) </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Registrant&#146;s telephone number, including area code: (813)&nbsp;876-1776
</B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Not Applicable </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>(Former Name or Former Address, if Changed Since Last Report) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P
STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR></TABLE> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR></TABLE> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR></TABLE> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR></TABLE> <P
STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P
STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;1.01.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B></B><B><I>Entry Into a Material Definitive Agreement.</I></B><B> </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">On January&nbsp;26, 2010, Odyssey Marine Exploration, Inc. (&#147;Odyssey&#148;) and certain investors entered into individual purchase agreements pursuant to which Odyssey agreed to sell an aggregate of
3,800,000 shares of Odyssey&#146;s common stock and warrants to purchase up to 2,280,000 shares of common stock to such investors. The common stock and warrants will be sold in units, with each unit consisting of one share of common stock and a
warrant to purchase 0.6 shares of common stock. The purchase price for each unit is $1.565. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The warrants have an exercise
price of $2.25 per share of common stock and will be exercisable in accordance with their terms at any time on or before the close of business on January&nbsp;29, 2013. The net proceeds to the Company from the registered direct public offering,
after deducting placement agent fees and its estimated offering expenses, and excluding the proceeds, if any, from the exercise of the warrants issued in the offering, are expected to be approximately $5.5 million. The transaction is expected to
close on January&nbsp;29, 2010, subject to satisfaction of customary closing conditions. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Odyssey intends to offer and sell
the units primarily through its officers and directors, who will not be paid any commission or additional compensation in connection with such sales. Pursuant to a letter agreement dated December&nbsp;7, 2009, Odyssey has also retained Chardan
Capital Markets, LLC (&#147;Chardan Capital&#148;) to act as placement agent, on a nonexclusive basis, in connection with offer and sale of the units. There is no requirement that any minimum number of units or dollar amount of units be sold in this
offering and there can be no assurance that Odyssey will sell all or any of the units being offered. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Odyssey agreed to pay
Chardan Capital a placement agent fee equal to 5.0% of the gross proceeds of the sale of the units sold by Chardan Capital in the offering. Odyssey will not pay any placement agent fee to Chardan Capital in connection with sales of securities
through Odyssey&#146;s officers and directors. Odyssey also agreed to reimburse Chardan Capital for up to $15,000 of reasonable and documented expenses incurred by it in connection with this offering. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The foregoing summaries of the terms of warrants, the purchase agreements, and the letter agreement are subject to, and qualified in their
entirety by, such documents attached hereto as Exhibits&nbsp;1.1, 4.1, and 10.1, respectively, and are incorporated herein by reference. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;9.01.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B></B><B><I>Financial Statements and Exhibits.</I></B><B> </B></FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Financial Statements of Businesses Acquired.</I> </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Not applicable. </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Pro Forma Financial Information.</I> </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%"><FONT STYLE="font-family:Times New Roman"
SIZE="2">Not applicable. </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Shell Company Transactions.</I> </FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:8%"><FONT STYLE="font-family:Times New Roman"
SIZE="2">Not applicable. </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Exhibits.</I> </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" ALIGN="center">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="94%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;1.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Letter Agreement dated December&nbsp;7, 2009, between Odyssey Marine Exploration, Inc. and Chardan Capital Markets, LLC.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;4.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Warrant to Purchase Common Stock.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">10.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Purchase Agreement.</FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SIGNATURES </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">

<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>O<SMALL>DYSSEY</SMALL> M<SMALL>ARINE</SMALL> E<SMALL>XPLORATION</SMALL>, I<SMALL>NC</SMALL>.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dated: January&nbsp;26, 2010</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/<SMALL>S</SMALL>/&nbsp;&nbsp;&nbsp;&nbsp;M<SMALL>ICHAEL</SMALL> J.
H<SMALL>OLMES&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</SMALL></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Michael J. Holmes</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Chief Financial Officer</B></FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit Index </B></FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="90%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:39pt" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Exhibit&nbsp;No.</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:39pt" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;1.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Letter Agreement dated December 7, 2009, between Odyssey Marine Exploration, Inc. and Chardan Capital Markets, LLC.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;4.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Warrant to Purchase Common Stock.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form of Purchase Agreement.</FONT></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>dex11.htm
<DESCRIPTION>LETTER AGREEMENT
<TEXT>
<HTML><HEAD>
<TITLE>Letter Agreement</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 1.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center">

<IMG SRC="g57315ex1_1pg01.jpg" ALT="LOGO"> </P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="23%"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Steve Urbach</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">President</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chardan Capital Markets, LLC</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">17 State Street</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Suite 1600</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">New York, NY 10004</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Tel: 646 465 9003</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">Fax: 646 465 9039</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">December&nbsp;7, 2009 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Odyssey Marine Exploration, Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">5215 West Laurel Street </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Tampa, FL 33607 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mr.&nbsp;Mark&nbsp;D. Gordon </FONT></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="12%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">President </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mark: </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">This letter will confirm our understanding that Odyssey Marine Exploration, Inc. (the &#147;Company&#148;) has engaged Chardan Capital Markets, LLC
(&#147;Chardan&#148;) to act as the Company&#146;s non-exclusive financial advisor on the terms and conditions set forth below. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2">Section&nbsp;1. <U>Scope of Engagement and Services</U>. In connection with this engagement, Chardan shall, as appropriate: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">advise and assist the Company with respect to defining objectives, performing valuation analyses and structuring and planning transactions; </FONT></TD></TR></TABLE> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">advise and assist the Company in negotiating the terms and conditions of any transaction that might become available; </FONT></TD></TR></TABLE> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">arrange non-deal roadshows for the Company to introduce the Company to prospective investors; and </FONT></TD></TR></TABLE> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">perform such other financial advisory services as Chardan and the Company may from time to time agree upon. </FONT></TD></TR></TABLE> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;2. <U>Compensation</U>. </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the event the Company enters into a financing transaction and Chardan acts as a placement agent, then the Company will pay Chardan an aggregate cash fee equal to
five percent (5.0%)&nbsp;of the aggregate sales price of the securities sold in the transaction to Introduced Parties (for the avoidance of doubt, (i)&nbsp;no fee shall be payable in connection with any investment made in the Transaction by any of
the officers, directors or existing stockholders of the Company or any of their affiliated entities (the &#147;Excluded Parties&#148;)). An investor shall be deemed to be an Introduced Party if (i)&nbsp;Chardan arranges a meeting with such investor
(or any of its affiliates), which is accepted by the Company, or (ii)&nbsp;Chardan arranges a conference call with such investor (or any of its affiliates), which is accepted by the Company. An Introduced Party shall include, but not be limited to,
Iroquois Capital, Ramius Capital and LH Financial/Alpha Capital. An Introduced Party shall not include &#147;Odyssey Investors&#148; which are listed on Exhibit A attached hereto. </FONT></TD></TR></TABLE> <P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>17 State Street &#149; Suite 1600 &#149; New York, N.Y. 10004 &#149; Tel: 646-465-9090
&#149; Fax: 646-465-9039 </B></FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"> Page
 2
 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the event the Company enters into a financing transaction and Chardan acts as a placement agent with any of the Odyssey Investors, then the Company will pay Chardan
an aggregate cash fee equal to two and a half (2.5)&nbsp;percent of the aggregate sales price of the securities sold in the transaction. In the event of any future investment by the Odyssey Investors, in which Chardan does not act as the placing
agent, Chardan shall not be paid. </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chardan shall be entitled to the transaction fee set forth in Section&nbsp;2(a) with respect to any securities of the Company sold to any Introduced Parties within
three (3)&nbsp;months following the expiration or termination of the term of this Agreement. </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">All fees payable and expenses
reimbursable hereunder are net of all applicable withholding and similar taxes. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;3. <U>Expenses</U>. In addition
to compensation payable pursuant to Section&nbsp;2, the Company agrees to reimburse Chardan upon receipt of an invoice thereof, for all documented and reasonable out-of-pocket expenses including travel, database, postage, research, telecom,
Chardan&#146;s participation in any roadshow, and any other direct costs incidental to marketing the Transaction. Such expenses will be invoiced periodically and will not exceed a cumulative total of $15,000, unless authorized by the Company.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;4. <U>Confidentiality</U>. In connection with this Agreement, the term <B>&#147;Confidential
Information&#148;</B> shall mean all information furnished to Chardan that the Company expressly identifies and maintains as confidential information and trade secrets of the Company, and that is not otherwise publicly disclosed, previously known or
independently disclosed by third parties. Chardan agrees that during the term of this Agreement, unless the Company has consented, or unless ordered to do so by a court or agency or otherwise required by law. Chardan will not reveal or disclose any
such Confidential Information to any third party, except for (i) information approved by the Company to be used in a <B>&#147;Teaser Letter&#148;</B> to prospective investors and lenders, (ii) other Confidential Information to be provided to
prospective investors and lenders who have signed a non-disclosure agreement with the Company, and (iii)&nbsp;Chardan&#146;s agents, advisors, officers, directors, partners, employees, and representatives who have a need to utilize such Confidential
Information during the term of this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;5. <U>Use of Information</U>. In connection with Chardan&#146;s
engagement, the Company shall (a)&nbsp;make available to Chardan all information concerning the business, assets, operations and financial condition of the Company and, to the extent available to the Company, which Chardan reasonably requests in
connection with the performance of its obligations hereunder; and (b)&nbsp;provide Chardan with reasonable access to the Company&#146;s officers, directors, employees, accountants, counsel and other advisors and agents as Chardan shall deem
appropriate. The Company represents that all such information furnished by it or on its behalf shall be true, complete and correct in all material respects and shall not contain any misstatement of material fact or omit to state any material fact
required to be stated therein or necessary to make such information not misleading. The Company recognizes and confirms that Chardan, in acting pursuant to this engagement, will be using publicly available information and information in reports and
other materials provided by others, including, without limitation, information provided by or on behalf of the Company, and that Chardan does not assume responsibility for and may rely, without independent verification, solely upon the accuracy and
completeness of any such information. The Company will promptly notify Chardan if the Company learns of any material inaccuracy or misstatement in, or any material omission from, any such information furnished by the Company to Chardan. All
non-public information concerning the Company which is given to Chardan in connection with this engagement will be used solely in the course of the performance of Chardan&#146;s services hereunder and will be treated confidentially by Chardan for so
long as it remains non-public. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>17 State Street &#149; Suite 1600 &#149; New York, N.Y. 10004 &#149; Tel: 646-465-9090
&#149; Fax: 646-465-9039 </B></FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"> Page
 3
 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;6. <U>Termination</U>. Chardan&#146;s engagement will commence on the date
hereof and will continue until terminated as provided below. Either the Company or Chardan may terminate this agreement at any time, with or without cause, by giving 30 days written notice to the other party; provided, however, that no such
termination will affect the matters set out in this section or under the captions &#147;Confidentiality,&#148; &#147;Use of Information,&#148; &#147;Certain Acknowledgments and Agreements&#148; and &#147;Miscellaneous.&#148; It is expressly agreed
that following the expiration or termination of this agreement. Chardan will continue to be entitled to receive fees and expenses, as described in the &#147;Compensation&#148; section above that have accrued prior to such expiration or termination
but are unpaid. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;7. <U>Certain Acknowledgements and Agreements</U>. The Company acknowledges that Chardan has
been retained solely as an advisor to the Company, and not as an agent of the Company or an advisor to or agent of any other person, and that the Company&#146;s engagement of Chardan is as an independent contractor and not in any fiduciary or other
capacity. Chardan may, to the extent it deems appropriate, render the services hereunder through one or more of its affiliates. Neither this engagement, nor the delivery of any advice in connection with this engagement, is intended to confer rights
upon any persons not a party hereto (including security holders, employees and creditors of the Company) as against Chardan or its affiliates or their respective directors, officers, agents and employees. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">It is expressly understood and agreed that Chardan is not undertaking to provide any advice relating to legal, regulatory, accounting or tax
matters. In furtherance thereof, the Company acknowledges and agrees that (a)&nbsp;it and its affiliates have relied and will continue to rely on the advice of its own legal, tax and accounting advisors for all matters relating to the Transaction,
and all other matters and (b)&nbsp;neither it, nor any of its affiliates, has received, or has relied upon, the advice of Chardan or any of its affiliates regarding matters of law, taxation or accounting </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;8. <U>Public Announcements</U>. The Company acknowledges that Chardan may, at its option and expense and after the earlier of
the closing or the announcement of the Transaction, place announcements and advertisements or otherwise publicize Chardan&#146;s role hereunder (which may include the reproduction of the Company&#146;s logo and a hyperlink to the Company&#146;s
website) on Chardan&#146;s internet website and in such financial and other newspapers and journals as it may choose. Prior to placing any such advertisements, Chardan will submit a copy of any such advertisements to the Company for its approval,
which approval shall not be unreasonably withheld or delayed. Furthermore, if requested by Chardan, the Company shall include a mutually acceptable reference to Chardan in any press release or other public announcement made by the Company regarding
the matters described in this letter. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;9. <U>Governing Law</U>. This agreement and all aspects of the
relationship created by this agreement shall be governed by the laws of the State of Florida, without regard to conflicts of law principles thereof, and will be binding upon and inure to the benefit of the Company and Chardan and their respective
successors and assigns. The Company and Chardan agree to waive trial by jury in any action, proceeding or counterclaim brought by or on behalf of either party with respect to any matter whatsoever relating to or arising out of any actual or proposed
Transaction or the engagement of or performance by Chardan hereunder. The Company also hereby submits to the exclusive jurisdiction of the courts of the State of Florida located in the city of Tampa. Hillsborough County and in the United States
District Court for the Middle District of Florida, and each of the parties hereto submits to the jurisdiction of such courts in any proceeding arising out of or relating to this agreement, agrees not to commence any suit, action or proceeding
relating thereto except in such courts, and waives, to the fullest extent permitted by law, the right to move to dismiss or transfer any action brought in such court on the basis of any objection to personal jurisdiction, venue or inconvenient
forum. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>17 State Street &#149; Suite 1600 &#149; New York, N.Y. 10004 &#149; Tel: 646-465-9090
&#149; Fax: 646-465-9039 </B></FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"> Page
 4
 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Section&nbsp;10. <U>Miscellaneous</U>. The Company will notify Chardan in writing of any
agreement or arrangement with respect to, or effecting, any merger, statutory exchange or other business combination or proposed sale or exchange, dividend or other distribution or liquidation of all or a significant portion of its assets in one or
a series of transactions or any significant recapitalization or reclassification of its outstanding securities that does not directly or indirectly provide for the assumption of the obligations of the Company set forth herein. This agreement (with
its Exhibit) shall constitute the entire agreement between the parties hereto and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Company and Chardan. This agreement may be
executed via facsimile transmission and may be executed in separate counterparts, each of which shall be deemed to be an original and all of which together shall constitute a single instrument, and this agreement may not he amended or modified
except in writing. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">CHARDAN CAPITAL MARKETS, LLC</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000">

<IMG SRC="g57315ex1_1pg04a.jpg" ALT="LOGO"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Steven Urbach</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">President</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Accepted and agreed to as of the date set forth above: </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="95%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">ODYSSEY MARINE EXPLORATION, INC.</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000">

<IMG SRC="g57315ex1_1pg04b.jpg" ALT="LOGO"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mark D. Gordon</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">President</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">12-9-09</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Enclosure </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>17 State Street &#149; Suite 1600 &#149; New York, N.Y. 10004 &#149; Tel: 646-465-9090
&#149; Fax: 646-465-9039 </B></FONT></P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>3
<FILENAME>dex41.htm
<DESCRIPTION>FORM OF WARRANT TO PURCHASE COMMON STOCK
<TEXT>
<HTML><HEAD>
<TITLE>Form of Warrant to Purchase Common Stock</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 4.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"
ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>W<SMALL>ARRANT</SMALL> <SMALL>TO</SMALL> P<SMALL>URCHASE</SMALL> </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>C<SMALL>OMMON</SMALL> S<SMALL>TOCK</SMALL> </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><SMALL>OF</SMALL>
</B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>O<SMALL>DYSSEY</SMALL> M<SMALL>ARINE</SMALL> E<SMALL>XPLORATION</SMALL>, I<SMALL>NC</SMALL>. </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Warrant No: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date of Issuance: January [<U>&nbsp;&nbsp;&nbsp;&nbsp;</U>], 2010 (&#147;<U>Issuance Date</U>&#148;) </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%;padding-bottom:3px;"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>THIS WARRANT TO PURCHASE COMMON STOCK CERTIFIES</B> that, for value received,
[<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>] (the &#147;<U>Holder</U>&#148;), is entitled, upon the terms and subject to the limitations on exercise and the
conditions hereinafter set forth, at any time on or after the Issuance Date (the &#147;<U>Initial Exercise Date</U>&#148;), and on or prior to the close of business on
[<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>], 2013</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">1</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> (the &#147;<U>Termination Date</U>&#148;) but not thereafter, to subscribe for and purchase from Odyssey Marine
Exploration, Inc., a Nevada corporation (the &#147;<U>Company</U>&#148;), up to [<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>] shares (the &#147;<U>Warrant
Shares</U>&#148;) of common stock, par value $0.0001 per share, of the Company (the &#147;<U>Common Stock</U>&#148;). The purchase price of one share of Common Stock (the &#147;<U>Exercise Price</U>&#148;) under this Warrant shall be $2.25, subject
to adjustment hereunder. The Exercise Price and the number of Warrant Shares for which the Warrant is exercisable shall be subject to adjustment as provided herein. Capitalized terms used and not otherwise defined in their initial use shall have the
meanings set forth in Section&nbsp;18 herein. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;1.</B> <B>Title to Warrant. </B>Prior to the Termination Date
and subject to compliance with applicable laws and Section&nbsp;7 of this Warrant, this Warrant and all rights hereunder are transferable, in whole or in part, at the office or agency of the Company by the Holder in person or by duly authorized
attorney, upon surrender of this Warrant together with the Assignment Form annexed hereto properly endorsed. If requested by the Company, the transferee shall sign an investment letter in form and substance reasonably satisfactory to the Company.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;2.</B> <B>Authorization of Shares. </B>The Company covenants that all Warrant Shares which may be issued upon
the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges in
respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue). </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>Section&nbsp;3.</B> <B>Exercise of Warrant.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Exercise of the purchase rights represented by this Warrant
may be made at any time or times on or after the Initial Exercise Date and on or before the Termination Date by the delivery of a Notice of Exercise Form annexed hereto duly executed, at the office of the Company (or such other office or agency of
the Company as it may designate by notice in writing to the registered Holder at the address of such Holder appearing on the books of the Company) and upon payment of the Exercise Price of the shares thereby purchased by wire transfer or
cashier&#146;s check drawn on a United States bank or by means of a cashless exercise pursuant to Section&nbsp;3(d), the Holder shall be entitled to receive a certificate for the number of Warrant Shares so purchased. Certificates for shares
purchased hereunder shall be delivered to the Holder within three (3)&nbsp;Trading Days after the date on which this Warrant shall have been exercised </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P
STYLE="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Three years from date of issuance.
</FONT></P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
as aforesaid. This Warrant shall be deemed to have been exercised and such certificate or certificates shall be deemed to have been issued, and the Holder or any other person so designated to be
named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised by payment to the Company of the Exercise Price and all taxes required to be paid by the Holder, if any,
pursuant to Section&nbsp;5 prior to the issuance of such shares, have been paid. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) If this Warrant shall have been
exercised in part, the Company shall, at the time of delivery of the certificate or certificates representing Warrant Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called for by
this Warrant, which new Warrant shall in all other respects be identical with this Warrant. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The Holder shall not have the
right to exercise any portion of this Warrant, pursuant to Section&nbsp;3(a) or otherwise, to the extent that after giving effect to such issuance after exercise, the Holder (together with the Holder&#146;s Affiliates), as set forth on the
applicable Notice of Exercise, would beneficially own in excess of 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to such issuance. For purposes of the foregoing sentence, the number of shares of Common
Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which the determination of such sentence is being made, but shall exclude the number
of shares of Common Stock which would be issuable upon (1)&nbsp;exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates and (2)&nbsp;exercise or conversion of the unexercised or
nonconverted portion of any other securities of the Company (including, without limitation, any other Warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of
its Affiliates. Except as set forth in the preceding sentence, for purposes of this Section&nbsp;3(c), beneficial ownership shall be calculated in accordance with Section&nbsp;13(d) of the Exchange Act. For purposes of this Section&nbsp;3(c), in
determining the number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (x)&nbsp;the Company&#146;s most recent Form 10-Q or Form 10-K, as the case may be, (y)&nbsp;a more
recent public announcement by the Company or (z)&nbsp;any other notice by the Company or the Company&#146;s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of the Holder, the Company
shall within two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Company Common Stock shall be determined after giving effect to the
conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates since the date as of which such number of outstanding shares of Common Stock was reported. By written notice to the Company, the Holder may
waive the provisions of this Section but any such waiver will not be effective until the 61st day after such notice is delivered to the Company, nor will any such waiver effect any other Holder. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) If, but only if, at any time after the Initial Exercise Date there is no effective Registration Statement registering the Warrant
Shares, then this Warrant may also be exercised at such time by means of a &#147;cashless exercise&#148; in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing
[(A-B) x (X)] by (A), where: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="94%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(A)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">=</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">the Closing Price on the Trading Day immediately preceding the date of such election;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(B)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">=</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">the Exercise Price of this Warrant, as adjusted; and</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(X)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">=</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">the number of Warrant Shares issuable upon exercise of this Warrant in accordance with the terms of this Warrant by means of a cash exercise rather than a cashless
exercise.</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;4.</B> <B>No Fractional Shares or Scrip. </B>No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share which Holder would otherwise be entitled to purchase upon such exercise, the Company shall pay a cash adjustment in respect of such final
fraction in an amount equal to such fraction multiplied by the Exercise Price. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;5.</B> <B>Charges, Taxes and
Expenses. </B>Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be
paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that in the event certificates for Warrant Shares are to be issued in a name other
than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder; and the Company may require, as a condition thereto, the payment of a sum sufficient to
reimburse it for any transfer tax incidental thereto. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;6.</B> <B>Closing of Books. </B>The Company will not
close its stockholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>Section&nbsp;7.</B> <B>Transfer, Division and Combination. </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Subject to compliance with any applicable
securities laws and the conditions set forth in Sections 1 and 7(e) hereof, this Warrant and all rights hereunder are transferable, in whole or in part, so long as the amount of Warrant Shares transferred is equal to at least 50,000 shares (on an
as-exercised basis), upon surrender of this Warrant at the principal office of the Company, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds
sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the
denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. A Warrant, if properly
assigned, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) This
Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the
Holder or its agent or attorney. Subject to compliance with Section&nbsp;7(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or
Warrants to be divided or combined in accordance with such notice. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The Company shall prepare, issue and deliver at its
own expense (other than transfer taxes) the new Warrant or Warrants under this Section&nbsp;7. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The Company agrees to
maintain, at its aforesaid office, books for the registration and the registration of transfer of the Warrants. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) If, at
the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer of this Warrant shall not be registered pursuant to an effective registration statement under the Securities Act and under applicable state
securities or blue sky laws, the Company may require, as a condition of allowing such transfer (i)&nbsp;that the Holder or transferee of this Warrant, as the case may be, furnish to the Company a written opinion of counsel (which opinion shall be in
form, substance and scope customary for opinions of counsel in comparable transactions) to the effect that such transfer may
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
be made without registration under the Securities Act and under applicable state securities or blue sky laws, (ii)&nbsp;that the holder or transferee execute and deliver to the Company an
investment letter in form and substance acceptable to the Company and (iii)&nbsp;that the transferee be an &#147;accredited investor&#148; as defined in Rule 501(a) promulgated under the Securities Act. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;8.</B> <B>No Rights as Shareholder Until Exercise. </B>This Warrant does not entitle the Holder to any voting rights or
other rights as a shareholder of the Company prior to the exercise hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price (or by means of a cashless exercise), the Warrant Shares so purchased shall be and be
deemed to be issued to such Holder as the record owner of such shares as of the close of business on the later of the date of such surrender or payment. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;9.</B> <B>Loss, Theft, Destruction or Mutilation of Warrant. </B>The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it and upon surrender and cancellation of such Warrant
or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;10.</B> <B>Saturdays, Sundays, Holidays, etc. </B>If the last or appointed day for the taking of any action or the
expiration of any right required or granted herein shall be a Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day not a Saturday, Sunday or legal holiday. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;11.</B> <B>Adjustments of Exercise Price and Number of Warrant Shares. </B>The number and kind of securities purchasable
upon the exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time upon the happening of any of the following. In case the Company shall (i)&nbsp;pay a dividend in shares of Common Stock or make a distribution
in shares of Common Stock to holders of its outstanding Common Stock, (ii)&nbsp;subdivide its outstanding shares of Common Stock into a greater number of shares, (iii)&nbsp;combine its outstanding shares of Common Stock into a smaller number of
shares of Common Stock, or (iv)&nbsp;issue any shares of its capital stock in a reclassification of the Common Stock, then the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior thereto shall be adjusted so that the
Holder shall be entitled to receive the kind and number of Warrant Shares or other securities of the Company which it would have owned or have been entitled to receive had such Warrant been exercised in advance thereof. Upon each such adjustment of
the kind and number of Warrant Shares or other securities of the Company which are purchasable hereunder, the Holder shall thereafter be entitled to purchase the number of Warrant Shares or other securities resulting from such adjustment at an
Exercise Price per Warrant Share or other security obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of Warrant Shares purchasable pursuant hereto immediately prior to such adjustment and
dividing by the number of Warrant Shares or other securities of the Company that are purchasable pursuant hereto immediately after such adjustment. An adjustment made pursuant to this paragraph shall become effective immediately after the effective
date of such event retroactive to the record date, if any, for such event. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;12.</B> <B>Reorganization,
Reclassification, Merger, etc.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) In case the Company shall reorganize its capital, reclassify its capital stock,
consolidate or merge with or into another corporation (where the Company is not the surviving corporation or where there is a change in or distribution with respect to the Common Stock of the Company), or sell, transfer or otherwise dispose of all
or substantially all its property, assets or business to another corporation and,
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
pursuant to the terms of such reorganization, reclassification, merger, consolidation or disposition of assets, shares of common stock of the successor or acquiring corporation, or any cash,
shares of stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase rights) in addition to or in lieu of common stock of the successor or acquiring corporation (&#147;<U>Other
Property</U>&#148;), are to be received by or distributed to the holders of Common Stock of the Company, then the Holder shall have the right thereafter to receive upon exercise of this Warrant, the number of shares of Common Stock of the successor
or acquiring corporation or of the Company, if it is the surviving corporation, and Other Property receivable upon or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a Holder of the number of
shares of Common Stock for which this Warrant is exercisable immediately prior to such event. In case of any such reorganization, reclassification, merger, consolidation or disposition of assets, the successor or acquiring corporation (if other than
the Company) shall expressly assume the due and punctual observance and performance of each and every covenant and condition of this Warrant to be performed and observed by the Company and all the obligations and liabilities hereunder, subject to
such modifications as may be deemed appropriate (as determined in good faith by resolution of the Board of Directors of the Company) in order to provide for adjustments of Warrant Shares for which this Warrant is exercisable which shall be as nearly
equivalent as practicable to the adjustments provided for in this Section&nbsp;12. For purposes of this Section&nbsp;12, &#147;common stock of the successor or acquiring corporation&#148; shall include stock of such corporation of any class which is
not preferred as to dividends or assets over any other class of stock of such corporation and which is not subject to redemption and shall also include any evidences of indebtedness, shares of stock or other securities which are convertible into or
exchangeable for any such stock, either immediately or upon the arrival of a specified date or the happening of a specified event and any warrants or other rights to subscribe for or purchase any such stock. The foregoing provisions of this
Section&nbsp;12 shall similarly apply to successive reorganizations, reclassifications, mergers, consolidations or disposition of assets. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) Notwithstanding anything to the contrary, in the event of a consolidation or merger with or into another corporation (where the Company is not the surviving corporation), or a sale, transfer or
disposition of all or substantially all of the Company&#146;s property, assets, business or capital stock to another corporation that is approved by the Company&#146;s Board of Directors and where the consideration paid to the holders of the Common
Stock consists solely of cash (a &#147;<U>Black-Scholes Takeout Event</U>&#148;), if the consideration per share of Common Stock in any Black-Scholes Takeout Event (the &#147;<U>Takeout Event Price</U>&#148;) is equal to or less than the Exercise
Price then in effect, then, the Company (or the successor entity to this Warrant) shall, within five Business Days after the consummation of the any such Black-Scholes Takeout Event, purchase this Warrant from the Holder by paying to the Holder,
cash in an amount equal to the value of the remaining unexercised portion of this Warrant on the date of such Black-Scholes Takeout Event, which value shall be determined in accordance with the Black-Scholes option pricing model using an expected
volatility equal to the 100 day historical price volatility obtained from the HVT function on Bloomberg L.P. as of the Trading Day immediately prior to the public announcement of the Black-Scholes Takeout Event. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;13.</B> <B>Notice of Adjustment. </B>Whenever the number of Warrant Shares or number or kind of securities or other property
purchasable upon the exercise of this Warrant or the Exercise Price is adjusted, as herein provided, the Company shall give notice thereof to the Holder, which notice shall state the number of Warrant Shares (and other securities or property)
purchasable upon the exercise of this Warrant and the Exercise Price of such Warrant Shares (and other securities or property) after such adjustment, setting forth a brief statement of the facts requiring such adjustment and setting forth the
computation by which such adjustment was made. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;14.</B> <B>Notice of Corporate Action.</B> If at any time:<B></B>
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend
or other distribution, or any right to subscribe for or purchase any evidences of its indebtedness, any shares of stock of any class or any other securities or property, or to receive any other right, or </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) there shall be any capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company
or any consolidation or merger of the Company with, or any sale, transfer or other disposition of all or substantially all the property, assets or business of the Company to, another corporation or, </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) there shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company; </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">then, in any one or more of such cases, the Company shall give to Holder (i)&nbsp;at least 15 days&#146; prior written notice of the date on which a record
date shall be selected for such dividend, distribution or right or for determining rights to vote in respect of any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, liquidation or winding up, and
(ii)&nbsp;in the case of any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up, at least 15 days&#146; prior written notice of the date when the same shall take place.
Such notice in accordance with the foregoing clause also shall specify (A)&nbsp;the date on which any such record is to be taken for the purpose of such dividend, distribution or right, the date on which the holders of Common Stock shall be entitled
to any such dividend, distribution or right, and the amount and character thereof, and (B)&nbsp;the date on which any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up
is to take place and the time, if any such time is to be fixed, as of which the holders of Common Stock shall be entitled to exchange their Warrant Shares for securities or other property deliverable upon such disposition, dissolution, liquidation
or winding up. Each such written notice shall be sufficiently given if addressed to Holder at the last address of Holder appearing on the books of the Company and delivered in accordance with Section&nbsp;17(d). Failure to provide such notice shall
not affect the validity of any action taken in connection with such dividend, distribution, subscription or purchase rights, or proposed reorganization, reclassification, recapitalization, merger, consolidation, sale, transfer, disposition,
conveyance, dissolution, liquidation or winding up. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;15.</B> <B>Authorized Shares. </B>The Company covenants
that during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this
Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant
Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or
regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Except and to the extent
as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (a)&nbsp;not increase the par value of any Warrant
Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (b)&nbsp;take all such action as may be necessary or
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant, and (c)&nbsp;use commercially reasonable efforts
to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations under this Warrant. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;16.</B> <B>Covenant.</B> From the date hereof until 60 days after the Closing Date, neither the Company nor any Subsidiary
shall issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents at a price per share below $2.25. Notwithstanding the foregoing, this Section&nbsp;16 shall not
apply in respect of an Exempt Issuance, except that no Variable Rate Transaction shall be an Exempt Issuance. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><B>Section&nbsp;17.</B> <B>Miscellaneous.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) <B><I>Jurisdiction. </I></B>This Warrant shall constitute a
contract under the laws of Florida, without regard to its conflict of law, principles or rules. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) <B><I>Restrictions.
</I></B>The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions upon resale imposed by state and federal securities laws. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) <B><I>Non-Waiver and Expenses. </I></B>No course of dealing or any delay or failure to exercise any right hereunder on the part of
Holder shall operate as a waiver of such right or otherwise prejudice Holder&#146;s rights, powers or remedies, notwithstanding all rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any
provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys&#146; fees,
including those of appellate proceedings, incurred by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) <B><I>Notices. </I></B>All notices required under this Warrant and shall be deemed to have been given or made for all purposes
(i)&nbsp;upon personal delivery, (ii)&nbsp;upon confirmation receipt that the communication was successfully sent to the applicable number if sent by facsimile; (iii)&nbsp;one day after being sent, when sent by professional overnight courier
service, or (iv)&nbsp;five days after posting when sent by registered or certified mail. Notices to the Company shall be sent to the principal office of the Company (or at such other place as the Company shall notify the Holder in writing). Notices
to the Holder shall be sent to the address of the Holder on the books of the Company (or at such other place as the Holder shall notify the Company hereof in writing). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(e) <B><I>Limitation of Liability. </I></B>No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant or purchase Warrant Shares, and no enumeration herein of the
rights or privileges of Holder, shall give rise to any liability of Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) <B><I>Remedies. </I></B>Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages,
will be entitled to specific performance of its rights under this Warrant.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the
defense in any action for specific performance that a remedy at law would be adequate. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(g) <B><I>Successors and Assigns.
</I></B>Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The
provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by any such Holder or holder of Warrant Shares. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(h) <B><I>Amendment. </I></B>This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company
and the Holder. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) <B><I>Severability. </I></B>Wherever possible, each provision of this Warrant shall be interpreted in
such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provisions or the remaining provisions of this Warrant. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(j) <B><I>Headings. </I></B>The
headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Section&nbsp;18.</B> <B>Additional Definitions.</B> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a)
<I>&#147;Affiliate&#148;</I> means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person as such terms are used in and construed under Rule 144. With respect
to a Holder, any investment fund or managed account that is managed on a discretionary basis by the same investment manager as such Holder will be deemed to be an Affiliate of such Holder. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) <I>&#147;Approved Share Plan&#148;</I> means any employee benefit plan which has been approved by the board of directors of the Company
prior to or subsequent to the date hereof pursuant to which shares of Common Stock and standard options to purchase Common Stock may be issued to any employee, officer or director for services provided to the Company in their capacity as such.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) <I>&#147;Business Day&#148;</I> means any day except Saturday, Sunday and any day which shall be a federal legal holiday
or a day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(d) <I>&#147;Closing Price&#148;</I> means on any particular date (a)&nbsp;the last reported closing bid price per share of Common Stock on such date on the Trading Market (as reported by Bloomberg L.P.
at 4:15 PM (New York time) as the last reported closing bid price for regular session trading on such day), or (b)&nbsp;if there is no such price on such date, then the closing bid price on the Trading Market on the date nearest preceding such date
(as reported by Bloomberg L.P. at 4:15 PM (New York time) as the closing bid price for regular session trading on such day), or (c)&nbsp;if the Common Stock is not then listed or quoted on the Trading Market and if prices for the Common Stock are
then reported in the &#147;pink sheets&#148; published by the Pink Sheets LLC (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d)&nbsp;if
the shares of Common Stock are not then publicly traded the fair market value of a share of Common Stock as determined in good faith by the Company&#146;s Board of Directors. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">8 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) <I>&#147;Common Stock Equivalents&#148;</I> means any debt, preferred stock, rights,
options, warrants or other instrument that is at any time and under any circumstances convertible into or exchangeable for, or otherwise entitles the holder thereof to receive, capital stock and other securities of the Company (including, without
limitation, any securities of the Company or any Subsidiary which entitle the holder thereof to acquire Common Stock at any time, including without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any
time convertible into or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock or other securities that entitle the holder to receive, directly or indirectly, Common Stock. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) <I>&#147;Exchange Act&#148;</I> means the Securities Exchange Act of 1934, as amended. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(g) <I>&#147;Exempt Issuance&#148;</I> means (i)&nbsp;shares of Common Stock or standard options to purchase Common Stock to directors,
officers or employees of the Company in their capacity as such pursuant to an Approved Share Plan (as defined below), provided that (A)&nbsp;all such issuances (taking into account the shares of Common Stock issuable upon exercise of such options)
after the date hereof pursuant to this clause (1)&nbsp;do not, in the aggregate, exceed more than 10.0% of the Common Stock issued and outstanding immediately prior to the date hereof and (2)&nbsp;such options are not amended to increase the number
of shares issuable thereunder or to lower the exercise price thereof or to otherwise materially change the terms or conditions thereof in any manner that adversely affects any of the Buyers, (ii)&nbsp;shares of Common Stock issued upon the
conversion or exercise of Equivalents issued prior to the date hereof, provided that such Equivalents have not been amended since the date of this Agreement to increase the number of shares issuable thereunder or to lower the exercise or conversion
price thereof or otherwise materially change the terms or conditions thereof in any manner that adversely affects any of the Buyers, and (iii)&nbsp;the Warrant Shares. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(h) <I>&#147;Person&#148;</I> means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government
(or an agency or subdivision thereof) or other entity of any kind. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) <I>&#147;Registration Statement&#148;</I> means a
registration statement filed with the Securities and Exchange Commission. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(j) <I>&#147;Rule 144&#148;</I> means Rule 144
promulgated by the Securities and Exchange Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Securities and Exchange Commission having substantially
the same effect as such Rule. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(k) <I>&#147;Securities Act&#148;</I> means the Securities Act of 1933, as amended. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(l) <I>&#147;Subsidiary&#148;</I> means any subsidiary of the Company as set disclosed in the reports filed by the Company with the
Commission under the Exchange Act, excluding SMM Project, LLC, a Minnesota limited liability company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(m) <I>&#147;Trading
Day&#148;</I> means (A)&nbsp;a day on which the Common Stock is traded on a Trading Market (as defined below), or (B)&nbsp;if the Common Stock is not listed on a Trading Market, a day on which the Common Stock is traded on the over the counter
market, as reported by the OTC Bulletin Board, or (C)&nbsp;if the Common Stock is not quoted on the OTC Bulletin Board, a day on which the Common Stock is quoted in the &#147;pink sheets&#148; published by the Pink Sheets LLC (or any similar
organization or agency succeeding to its functions of reporting prices); provided, that in the event that the Common Stock is not listed or quoted as set forth in (A), (B)&nbsp;and (C)&nbsp;hereof, then Trading Day shall mean a Business Day.
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">9 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(n) <I>&#147;Trading Market&#148;</I> means the following markets or exchanges on which the
Common Stock is listed or quoted for trading on the date in question: The American Stock Exchange, the New York Stock Exchange, the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(o) <I>&#147;Variable Rate Transaction&#148;</I> means a transaction in which the Company or any Subsidiary (i)&nbsp;issues or sells any
Common Stock Equivalents either (A)&nbsp;at a conversion, exercise or exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of
such Common Stock Equivalents, or (B)&nbsp;with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such Common Stock Equivalents or upon the occurrence of specified or contingent
events directly or indirectly related to the business of the Company or the market for the Common Stock, other than pursuant to a customary &#147;weighted average&#148; anti-dilution provision or (ii)&nbsp;enters into any agreement (including,
without limitation, an equity line of credit) whereby the Company or any Subsidiary may sell securities at a future determined price (other than standard and customary &#147;preemptive&#148; or &#147;participation&#148; rights). </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>IN WITNESS WHEREOF,</B> the Company has caused this Warrant to be executed by its officer thereunto duly authorized. </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">

<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dated:&nbsp;[<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>],&nbsp;2010</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>O<SMALL>DYSSEY</SMALL> M<SMALL>ARINE</SMALL> E<SMALL>XPLORATION</SMALL>, I<SMALL>NC</SMALL>.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">10 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>N<SMALL>OTICE</SMALL> <SMALL>OF</SMALL> E<SMALL>XERCISE</SMALL> </B></FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">To:</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Odyssey Marine Exploration, Inc. </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2">(1) The undersigned hereby elects to purchase [<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>] Warrant Shares of Odyssey Marine Exploration, Inc. pursuant to
the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any. </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Payment shall take the form of (check applicable box): </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="95%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">in lawful money of the United States; or</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 3(d), to exercise this Warrant with respect to the
maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 3(d).</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3) Please issue a certificate or certificates representing said Warrant Shares in
the name of the undersigned or in such other name as is specified below: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="46%"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="5"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Warrant Shares shall be delivered to the following:</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4) The undersigned is an &#147;accredited investor&#148; as defined in Regulation D
promulgated under the Securities Act of 1933, as amended. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>[Purchaser]</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dated:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE></DIV>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>A<SMALL>SSIGNMENT</SMALL> F<SMALL>ORM</SMALL> </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(To assign the foregoing warrant, execute this form </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2">and supply the required information. Do not use this </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">form to exercise the
warrant.) </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="26%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="23%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="7"> <P STYLE="text-indent:2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>FOR VALUE RECEIVED,</B> the foregoing Warrant and all rights evidenced thereby are hereby assigned to
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,</FONT></P></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="26%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="23%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="7"><FONT STYLE="font-family:Times New Roman" SIZE="2">whose address is
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="7"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="7"><FONT STYLE="font-family:Times New Roman"
SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="30%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dated:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Holder&#146;s&nbsp;Signature:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Holder&#146;s Address:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Signature Guaranteed:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">NOTE: The signature to
this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in
a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant. </FONT></P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>4
<FILENAME>dex101.htm
<DESCRIPTION>FORM OF PURCHASE AGREEMENT
<TEXT>
<HTML><HEAD>
<TITLE>Form of Purchase Agreement</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 10.1 </B></FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px"
ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>P<SMALL>URCHASE</SMALL> A<SMALL>GREEMENT</SMALL> </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P
STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">January&nbsp;26,
2010 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Odyssey Marine Exploration, Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">5215 Laurel Street </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Suite 210 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman"
SIZE="2">Tampa, Florida 33607 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ladies and Gentlemen: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The undersigned (the &#147;<U>Investor</U>&#148; and, together with the other Persons (as defined below) who agree to purchase Securities (as defined below) pursuant to agreements in substantially the
form of this Agreement (as defined below, the &#147;<U>Investors</U>&#148;)) hereby confirms its agreement with you as follows: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2">1. This Purchase Agreement (this &#147;<U>Agreement</U>&#148;) is made as of January&nbsp;26, 2010, between Odyssey Marine Exploration, Inc., a Nevada corporation (the &#147;<U>Company</U>&#148;), and the Investor. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">2. The Company and the Investor agree that the Investor will purchase from the Company, severally and not jointly with any third party
purchasers of the Company&#146;s securities, and the Company will issue and sell to the Investor, <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> units (the
&#147;<U>Units</U>&#148;) of the Company, with each Unit consisting of (a)&nbsp;one share of the Company&#146;s common stock, par value $0.0001 per share (the &#147;<U>Common Stock</U>&#148;), and (b)&nbsp;a warrant (the &#147;<U>Warrants</U>&#148;)
to purchase 0.6 shares of Common Stock at an exercise price of $2.25 per share, for a purchase price of $1.565 per Unit. The Units will not be issued or certificated. The shares of Common Stock and the Warrants are (x)&nbsp;immediately separable and
will be issued separately and (y)&nbsp;sometimes hereinafter collectively referred to as the &#147;<U>Securities</U>.&#148; The Investor acknowledges that the offering is not a firm commitment underwriting and that there is no minimum offering
amount. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3. The completion of the purchase by the Investor and sale by the Company of the Units pursuant to this Agreement
(the &#147;<U>Closing</U>&#148;) shall occur on the date that the conditions set forth in Section&nbsp;7 of this Agreement have been satisfied or waived by the appropriate party or on such later date as the parties shall agree in writing (the
&#147;<U>Closing Date</U>&#148;). The Company and the Investor anticipate that the Closing will occur on January&nbsp;29, 2010. At the Closing, the Company shall deliver to the Investor the number of shares of Common Stock constituting a part of the
number of Units as set forth above in Section&nbsp;2 as follows (<I>check one</I>): </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="94%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">A.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By electronic book-entry at the Depository Trust Company (&#147;<U>DTC</U>&#148;), registered in the Investor&#146;s name and address as set forth below, and released by the
Company&#146;s transfer agent (the &#147;<U>Transfer Agent</U>&#148;) to the Investor at the Closing. No later than one (1)&nbsp;business day after the execution of this Agreement by the Investor and the Company, the Investor shall direct the
broker-dealer at which the account or accounts to be credited with the shares of Common Stock are maintained to set up a deposit/withdrawal at custodian (&#147;<U>DWAC</U>&#148;) instructing the Transfer Agent to credit such account or accounts with
the shares of Common Stock in accordance with the instructions set forth on the Investor&#146;s signature page attached hereto under the heading &#147;DWAC Instructions.&#148;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#150; OR &#150; </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="94%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">B.</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the form of a legend free stock certificate deliverable by Federal Express or equivalent overnight courier to the Investor at the following address:</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="88%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="80%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Investor&nbsp;(Name):</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Street Address:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">City,&nbsp;State&nbsp;and&nbsp;Zip&nbsp;Code:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attention:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Telephone Number:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">At the Closing, the Company shall also issue and deliver to the Investor the number of Warrants
constituting a part of the number of Units as set forth above in Section&nbsp;2. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>On or before the Closing Date, the Investor shall remit
by wire transfer (or deliver by check) the amount of funds equal to the aggregate purchase price for the Units being purchased by the Investor to the Company pursuant to instructions provided to the Investor with this Agreement. </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>IT IS THE INVESTOR&#146;S RESPONSIBILITY TO (A)&nbsp;MAKE THE NECESSARY WIRE TRANSFER IN A TIMELY MANNER AND (B)&nbsp;ARRANGE FOR SETTLEMENT BY WAY OF
DWAC IN A TIMELY MANNER. IF THE INVESTOR DOES NOT DELIVER THE AGGREGATE PURCHASE PRICE FOR THE SHARES IN A TIMELY MANNER, THE SHARES MAY NOT BE DELIVERED AT CLOSING TO THE INVESTOR OR THE INVESTOR MAY BE EXCLUDED FROM THE CLOSING. </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Company also shall deliver to the Investor and file with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) a prospectus
supplement (the &#147;<U>Supplement</U>&#148;) with respect to the Registration Statement (as defined below) reflecting the offering of the Units in conformity with the Securities Act of 1933, as amended (the &#147;<U>Securities Act</U>&#148;),
including Rule 424(b) thereunder. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">4. The Investor acknowledges that the Company intends to enter into purchase agreements in
substantially the same form as this Agreement with certain other investors and intends to offer and sell up to 4,000,000 Units. The Investor acknowledges and agrees that there is no minimum offering amount for the Units contemplated to be sold by
the Company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">5. The Company hereby makes the following representations, warranties and covenants to the Investor: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Company has been duly incorporated and is validly existing as a corporation with active status under the laws of the State of
Nevada, with the requisite corporate power and authority to own, lease and operate its properties and conduct its business as described or incorporated by reference in the Supplement. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The Company has the requisite corporate power and authority to execute, deliver, and perform its obligations under this Agreement. The
execution and delivery of this Agreement by the Company and the consummation by it of the transactions contemplated hereunder have been duly authorized by all necessary corporate action on the part of the Company, and no further consent or action is
required by the Company, its board of directors, or its shareholders. This Agreement has been (or upon delivery will be) duly executed by the Company and, when delivered in accordance with the terms hereof,
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
will constitute the valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as may be limited by any bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance, or other similar law affecting the enforcement of creditors&#146; rights generally or by general principles of equity. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) The Company&#146;s execution, delivery, and performance of this Agreement and its consummation of the transactions contemplated hereby will not (i)&nbsp;conflict with or result in a violation of, the
Company&#146;s articles of incorporation or bylaws, (ii)&nbsp;violate or conflict with, or result in a breach of, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or result in the
creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its Subsidiaries (as defined below) pursuant to, or require the consent of any other party to, any indenture, mortgage, loan or credit
agreement, deed of trust, note, contract, franchise, lease or other agreement, obligation, condition, covenant or instrument to which it is a party or by which it may be bound or to which any of its property or assets is subject, or
(iii)&nbsp;assuming the accuracy of the Investor&#146;s representations in this Agreement, result in a violation of any law, rule, regulation, judgment, order or decree (including United States federal and state securities laws and regulations and
regulations of any self-regulatory organizations to which the Company, any of its Subsidiaries, or its securities are subject), applicable to the Company or by which any material property or asset of the Company or any of its Subsidiaries is bound
or affected, except with respect to clauses (ii)&nbsp;and (iii)&nbsp;for such conflicts, breaches, defaults or violations as would not, individually or in the aggregate, have a material adverse effect on the assets, liabilities, financial condition,
or results of operations of the Company and its Subsidiaries taken as a whole (a &#147;<U>Material Adverse Effect</U>&#148;). As used in this Agreement, &#147;<U>Subsidiaries</U>&#148; means any subsidiary of the Company as set forth in the SEC
Reports, excluding SMM Project, LLC, a Minnesota limited liability company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The Company is not required to obtain any
consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and
performance by the Company of this Agreement, other than (i)&nbsp;the filing of the Supplement, (ii)&nbsp;the filings required in connection with the issuance and listing of the shares of Common Stock on the Nasdaq Capital Market, (iii)&nbsp;the
filings required by Paragraph 5(g) hereof, (iv)&nbsp;such filings as are required to be made under applicable state securities laws, and (v)&nbsp;in all other cases, where the failure to obtain such consent, waiver, authorization or order, or to
give such notice or make such filing or registration would not, individually or in the aggregate, have a Material Adverse Effect. For purposes of this Agreement, &#147;<U>Person</U>&#148; means an individual or corporation, partnership, trust,
incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) The Securities have been duly authorized and, when issued, delivered and paid for in accordance with the terms hereof, will be validly
issued, fully paid, and non-assessable and will not be sold in violation of statutory or contractual preemptive rights, resale rights, rights of first refusal, or similar rights. At the Closing, the shares of Common Stock shall have been approved
for quotation on the Nasdaq Capital Market subject only to official notice of issuance. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) The Company&#146;s Registration
Statement on Form S-3 (No. 333-162971) (including all information or documents incorporated by reference therein, the &#147;<U>Registration Statement</U>&#148;) has been declared effective by the Commission and is effective on the date hereof, and
the Company has not received notice that the Commission has issued or intends to issue a stop order with respect to the Registration Statement or that the Commission otherwise has suspended or withdrawn the effectiveness of the Registration
Statement, either temporarily or permanently, or intends or has threatened to do so. The offering, sale and issuance of the Securities to the Investor are registered under the Securities Act by the Registration Statement, and the Securities will be
freely transferable and tradable by the Investor without restriction created by the Company. The Securities are being issued as described in the Registration Statement. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;
</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(g) The capitalization of the Company is as set forth in the SEC Reports (as defined below).
The Company has not issued any capital stock since its most recently filed periodic report under the Securities Exchange Act of 1934, as amended (the &#147;<U>Exchange Act</U>&#148;), other than pursuant to the exercise of employee stock options
under the Company&#146;s stock option plans, the issuance of shares of Common Stock to employees pursuant to the Company&#146;s employee stock purchase plans and pursuant to the conversion and/or exercise of Common Stock Equivalents (as defined
below) outstanding as of the date of the most recently filed periodic report under the Exchange Act. No Person (excluding the Investors) has any right of first refusal, preemptive right, right of participation, or any similar right to participate in
the transactions contemplated by this Agreement. Except (a)&nbsp;as a result of the purchase and sale of the Securities and (b)&nbsp;as disclosed in the SEC Reports or the Supplement, there are no outstanding options, warrants, scrip rights to
subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common
Stock, or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock or Common Stock Equivalents. The issuance and sale of the Securities will not
obligate the Company to issue shares of Common Stock or other securities to any Person (other than the Investors) and will not result in a right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under
any of such securities, except for such adjustments which have been waived by the holder of such securities. All of the outstanding shares of capital stock of the Company are validly issued, fully paid and nonassessable, have been issued in
compliance with all federal and state securities laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. No further approval or authorization of any
stockholder, the Board of Directors or others is required for the issuance and sale of the Securities. There are no stockholders agreements, voting agreements or other similar agreements with respect to the Company&#146;s capital stock to which the
Company is a party or, to the knowledge of the Company, between or among any of the Company&#146;s stockholders. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(h) The
Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section&nbsp;13(a) or 15(d) thereof, for the two years preceding
the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, together with the Prospectus
and the Supplement, being collectively referred to herein as the &#147;<U>SEC Reports</U>&#148;), and for a period of 12 calendar months and any portion of a month immediately preceding the filing of the Registration Statement, the Company has filed
such SEC reports on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates or with respect to any amended SEC Reports as
of the date of such amendment, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material
fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. Since January&nbsp;1, 1998, the Company has
not been an issuer subject to Rule 144(i) under the Securities Act. The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the
Commission with respect thereto as in effect at the time of filing or with respect to any amended SEC Reports as of the date of such amendment. Such financial statements have been prepared in accordance with United States generally accepted
accounting principles applied on a consistent basis during the periods involved (&#147;<U>GAAP</U>&#148;),
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly
present in all material respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited
statements, to normal, immaterial, year-end audit adjustments. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) Since the date of the latest audited financial statements
included within the SEC Reports, except as specifically disclosed in a subsequent SEC Report filed prior to the date hereof, (i)&nbsp;there has been no event, occurrence or development that has had or that could reasonably be expected to result in a
Material Adverse Effect, (ii)&nbsp;the Company has not incurred any liabilities (contingent or otherwise) other than (A)&nbsp;trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and
(B)&nbsp;liabilities not required to be reflected in the Company&#146;s financial statements pursuant to GAAP or disclosed in filings made with the Commission, (iii)&nbsp;the Company has not altered its method of accounting, (iv)&nbsp;the Company
has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock and (v)&nbsp;the Company has not issued any
equity securities to any officer, director or affiliate, except pursuant to existing Company stock option plans. The Company does not have pending before the Commission any request for confidential treatment of information. Except for the issuance
of the Securities contemplated by this Agreement or as set forth in the SEC Reports or the Supplement, no event, liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist with respect
to the Company or its Subsidiaries or their respective business, prospects, properties, operations, assets or financial condition that would be required to be disclosed by the Company under applicable securities laws at the time this representation
is made or deemed made that has not been publicly disclosed at least one trading day prior to the date that this representation is made. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(j) Neither the Company nor any Subsidiary: (i)&nbsp;is in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in
a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or
instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been waived), (ii)&nbsp;is in violation of any judgment, decree or order of any court, arbitrator or governmental body
or (iii)&nbsp;is or has been in violation of any statute, rule, ordinance or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws applicable to its business and all such laws that affect
the environment, except in each case as could not have or reasonably be expected to result in a Material Adverse Effect. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(k)
Except as disclosed in the SEC Reports, the Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them and good and valid title in all personal property owned by them that is material to the business
of the Company and the Subsidiaries, in each case free and clear of all Liens (as defined below), except for Liens as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of
such property by the Company and the Subsidiaries and Liens for the payment of federal, state or other taxes, the payment of which is neither delinquent nor subject to penalties, or Liens securing indebtedness to be repaid from the proceeds of this
offering. Any real property and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company and the Subsidiaries are in compliance. As used in this Agreement,
&#147;<U>Liens</U>&#148; means a lien, charge, security interest, encumbrance, right of first refusal, preemptive right or other restriction. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(l) The Company is in material compliance with all provisions of the Sarbanes-Oxley Act of
2002 which are applicable to it as of the Closing Date. The Company and the Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that: (i)&nbsp;transactions are executed in accordance with
management&#146;s general or specific authorizations, (ii)&nbsp;transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii)&nbsp;access to assets is
permitted only in accordance with management&#146;s general or specific authorization, and (iv)&nbsp;the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to
any differences. The Company has established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and designed such disclosure controls and procedures to ensure that information required to be
disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission&#146;s rules and forms. The Company&#146;s certifying officers
have evaluated the effectiveness of the Company&#146;s disclosure controls and procedures as of the end of the period covered by the Company&#146;s most recently filed periodic report under the Exchange Act (such date, the &#147;<U>Evaluation
Date</U>&#148;). The Company presented in its most recently filed periodic report under the Exchange Act the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of
the Evaluation Date. Since the Evaluation Date, there have been no changes in the Company&#146;s internal control over financial reporting (as such term is defined in the Exchange Act) that has materially affected, or is reasonably likely to
materially affect, the Company&#146;s internal control over financial reporting. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(m) Except as set forth in the Prospectus
Supplement, no brokerage or finder&#146;s fees or commissions are or will be payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions
contemplated by this Agreement. The Investors shall have no obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section that may be due in connection with
the transactions contemplated by this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(n) The Common Stock is registered pursuant to Section&nbsp;12(b) or 12(g)
of the Exchange Act, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act nor has the Company received any notification
that the Commission is contemplating terminating such registration. Except as disclosed in the SEC Reports, the Company has not, in the 12 months preceding the date hereof, received notice from any Trading Market (as defined below) on which the
Common Stock is or has been listed or quoted to the effect that the Company is not in compliance with the listing or maintenance requirements of such Trading Market. The Company is, and has no reason to believe that it will not in the foreseeable
future continue to be, in compliance with all such listing and maintenance requirements. As used in this Agreement, &#147;<U>Trading Market</U>&#148; means any of the following markets or exchanges on which the Common Stock is listed or quoted for
trading on the date in question: the NYSE AMEX, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, or the New York Stock Exchange (or any successors to any of the foregoing). </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(o) Assuming the accuracy of the Investor&#146;s representations and warranties set forth in this Agreement, neither the Company, nor any of
its affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause this offering of the Securities to
be integrated with prior offerings by the Company for purposes of any applicable shareholder approval provisions of any Trading Market on which any of the securities of the Company are listed or designated. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(p) The Company acknowledges and agrees that each of the Investors is acting solely in the capacity of an arm&#146;s length Investor with
respect to this Agreement, the agreements entered into by the other Investors, and the transactions contemplated hereby and thereby. The Company further acknowledges that no Investor is acting as a financial advisor or fiduciary of the Company (or
in any similar capacity) with respect to the this Agreement, the agreements entered into by the other Investors, and the transactions contemplated hereby and thereby. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(q) The Company has not, and to its knowledge no one acting on its behalf has,
(i)&nbsp;taken, directly or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii)&nbsp;sold, bid for,
purchased, or, paid any compensation for soliciting purchases of, any of the Securities, or (iii)&nbsp;paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities of the Company, other than, in the
case of clauses (ii)&nbsp;and (iii), compensation paid to the Company&#146;s placement agent in connection with the placement of the Securities. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(r) The Company shall (i)&nbsp;before the Nasdaq Capital Market opens on the next trading day after the date hereof, issue a press release, disclosing all material aspects of the transactions contemplated
hereby and (ii)&nbsp;make such other filings and notices in the manner and time required by the Commission with respect to the transactions contemplated hereby. Except for the exhibits to be attached to filings required by the Commission, the
Company shall not identify the Investor by name in any press release or public filing, or otherwise publicly disclose the Investor&#146;s name, without the Investor&#146;s prior written consent (such consent not to be unreasonably withheld), unless
required by law or the rules and regulations of any self-regulatory organization to which the Company or its securities are subject. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2">(s) The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries
are engaged, including, but not limited to, directors and officers insurance coverage at least equal to the aggregate Subscription Amount. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its
existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(t) The Company is not, and is not an affiliate of, and immediately after receipt of payment for the Securities, will not be or be an
affiliate of, an &#147;investment company&#148; within the meaning of the Investment Company Act of 1940, as amended. The Company shall conduct its business in a manner so that it will not become an &#147;investment company&#148; subject to
registration under the Investment Company Act of 1940, as amended. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(u) The Company and the Board of Directors have taken all
necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti takeover provision under the Company&#146;s
articles of incorporation (or similar charter documents) or the laws of its state of incorporation that is or could become applicable to the Investors as a result of the Investors and the Company fulfilling their obligations or exercising their
rights under this Agreement and the other documents contemplated by this Agreement, including without limitation as a result of the Company&#146;s issuance of the Securities and the Investors&#146; ownership of the Securities. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(v) Based on the consolidated financial condition of the Company as of the Closing Date, after giving effect to the receipt by the Company
of the proceeds from the sale of the Securities hereunder, (i)&nbsp;the book value of the Company&#146;s assets exceeds the amount that will be required to be paid on or in respect of the Company&#146;s existing debts and other liabilities
(including known contingent liabilities) as they mature, and (ii)&nbsp;the current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate all of its assets at book value, after taking into account all
anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its liabilities when
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
such amounts are required to be paid. The Company does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be
payable on or in respect of its debt). Taking into account the projected capital availability to the Company, the Company has no knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation
under the bankruptcy or reorganization laws of any jurisdiction within one year from the Closing Date. The SEC Reports set forth as of the date hereof all outstanding secured and unsecured Indebtedness of the Company or any Subsidiary, or for which
the Company or any Subsidiary has commitments. For the purposes of this Agreement, &#147;Indebtedness&#148; means (x)&nbsp;any liabilities for borrowed money or amounts owed in excess of $50,000 (other than trade accounts payable incurred in the
ordinary course of business), (y)&nbsp;all guaranties, endorsements and other contingent obligations in respect of indebtedness of others, whether or not the same are or should be reflected in the Company&#146;s balance sheet (or the notes thereto),
except guaranties by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and (z)&nbsp;the present value of any lease payments in excess of $50,000 due under leases required to
be capitalized in accordance with GAAP. Neither the Company nor any Subsidiary is in default with respect to any Indebtedness. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2">(w) Neither the Company, nor to the knowledge of the Company, any agent or other person acting on behalf of the Company, has (i)&nbsp;directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful
expenses related to foreign or domestic political activity, (ii)&nbsp;made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds,
(iii)&nbsp;failed to disclose fully any contribution made by the Company (or made by any person acting on its behalf of which the Company is aware) which is in violation of law, or (iv)&nbsp;violated in any material respect any provision of the
Foreign Corrupt Practices Act of 1977, as amended. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">6. The Investor hereby makes the following representations, warranties and
covenants to the Company: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) The Investor, either alone or together with its representatives, has such knowledge,
sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment. The Investor is
able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) The Investor acknowledges that it has had the opportunity to review (including through availability to it of documents electronically filed by the Company with the Commission) the basic prospectus
included in the Registration Statement on the date hereof and all documents incorporated therein by reference (together with the price and amount of the Units sold as described in Section&nbsp;2 hereof) and the Registration Statement. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) The Investor is purchasing the Securities in the ordinary course of its business for its own account and not with a view to the
distribution thereof and it does not have any contract, undertaking, agreement or arrangement with any person or entity to sell, transfer, distribute or grant participation to any third person or entity with respect to any of the Securities,
provided, however, that by making the representation herein, the Investor does not agree to hold any of the Securities for any minimum or other specific term and reserves the right to dispose of the Securities. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) The Investor understands that nothing in this Agreement or any other materials presented by or on behalf of the Company to the Investor
in connection with the purchase and sale of the Securities constitutes legal, tax, or investment advice. The Investor has consulted such legal, tax, and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in
connection with its purchase of the Securities. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">8 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(e) Neither the Investor nor any Person acting on behalf of, or pursuant to any
understanding with or based upon any information received from, the Investor has, directly or indirectly, engaged in any transactions in the securities of the Company (including, without limitation, any Short Sales involving the Company&#146;s
securities) since the earlier to occur of (i)&nbsp;the time that the Investor was first contacted by or on behalf of the Company with respect to the transactions contemplated hereby and (ii)&nbsp;the date that is the tenth (10th)&nbsp;trading day
prior to the date of this Agreement. &#147;<U>Short Sales</U>&#148; include, without limitation, all &#147;short sales&#148; as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, whether or not against the box, and all
types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, short sales, swaps, &#147;put equivalent positions&#148; (as defined in Rule 16a-1(h) under the Exchange Act) and similar arrangements (including on a total
return basis), and sales and other transactions through non-U.S. broker dealers or foreign regulated brokers. The Investor covenants that neither it, nor any Person acting on behalf of, or pursuant to any understanding with or based upon any
information received from, the Investor will engage in any transactions in the securities of the Company (including Short Sales) prior to the time that the transactions contemplated by this Agreement are publicly disclosed. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(f) The Investor represents that, except as set forth below, (i)&nbsp;it has had no position, office, or other material relationship within
the past three years with the Company or any of its affiliates, (ii)&nbsp;it is not a, and it has no direct or indirect affiliation or association with any, NASD member or an Associated Person (as such term is defined under the NASD Membership and
Registration Rules Section&nbsp;1011) as of the date hereof, and (iii)&nbsp;neither it nor any group of investors (as identified in a public filing made with the Commission) of which it is a member, acquired, or obtained the right to acquire, 20% or
more of the Common Stock (or securities convertible or exercisable for Common Stock) or the voting power of the Company on a post-transaction basis. Exceptions: </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="100%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">(If no exceptions, write &#147;none.&#148; If left blank, response will be deemed to
be &#147;none.&#148;) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(g) The Investor shall not issue any press release or make any other public announcement relating to
this Agreement unless (i)&nbsp;the content thereof is mutually agreed to by the Company and the Investor or (ii)&nbsp;the Investor is advised by its counsel (including internal counsel) that such press release or public announcement is required by
law. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(h) Investor acknowledges that no offer by the Investor to buy Units will be accepted until the Company has accepted
such offer by countersigning a copy of this Agreement, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the Company sending (orally, in writing or by electronic mail) notice of its
acceptance of such offer. An indication of interest will involve no obligation or commitment of any kind until this Agreement is accepted and countersigned by or on behalf of the Company. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(i) If the Investor is outside the United States, it will comply with all applicable laws and regulations in each foreign jurisdiction in
which it purchases, offers, sells, or delivers Units or has in its possession or distributes any offering material, in all cases at its own expense. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">9 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(j) The Investor has the requisite power and authority to enter into and to consummate the
transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement by the Investor and the consummation by it of the transactions contemplated hereunder have been duly
authorized by all necessary action on the part of the Investor, and no further consent or action is required by the Investor, its board of directors or similar governing body or its stockholders, members or partners. This Agreement has been duly
executed by the Investor and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Investor, enforceable against the Investor in accordance with its terms, except as may be limited by any
bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar law affecting the enforcement of creditors&#146; rights generally or by general principles of equity. </FONT></P> <P
STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">7. Conditions. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman"
SIZE="2">(a) The Company&#146;s obligation to issue and sell the Units to the Investor shall be subject to: (i)&nbsp;the receipt by the Company of the purchase price for the Units being purchased hereunder; and (ii)&nbsp;the accuracy of the
representations and warranties made by the Investor in this Agreement and the fulfillment of those undertakings of the Investor in this Agreement to be fulfilled prior to the Closing. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The Investor&#146;s obligation to purchase the Units shall be subject to: (i)&nbsp;the accuracy of the representations and warranties
made by the Company in this Agreement and the fulfillment of those undertakings of the Company in this Agreement to be fulfilled prior to the Closing; (ii)&nbsp;there shall have been no Material Adverse Effect with respect to the Company since the
date hereof; and (iii)&nbsp;from the date hereof to the Closing Date, trading in the Common Stock shall not have been suspended by the Commission or the Company&#146;s principal Trading Market (except for any suspension of trading of limited
duration agreed to by the Company, which suspension shall be terminated prior to the Closing), and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg L.P. shall not have been suspended or limited, or
minimum prices shall not have been established on securities whose trades are reported by such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United States or New York State authorities nor shall
there have occurred any material outbreak or escalation of hostilities or other national or international calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in each case, in the reasonable
judgment of each Investor, makes it impracticable or inadvisable to purchase the Securities at the Closing. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Investor&#146;s obligations
are expressly not conditioned on the purchase by any third party purchaser of any securities that they have agreed to purchase from the Company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">8. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Florida, without giving effect to the principles of conflicts of law. Each party hereby
irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in Hillsborough County, Florida, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or
discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an
inconvenient forum or that the venue of such suit, action or proceeding is improper. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">10 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">9. All covenants, agreements, representations and warranties made by the Company and the
Investor herein are made as of the date hereof and will survive the execution of this Agreement, the delivery to the Investor of the Securities being purchased and the payment therefor. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">10. Until the earliest of the time that (i)&nbsp;no Investor owns Securities or (ii)&nbsp;the Warrants have expired, the Company covenants
to use its best efforts timely file (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act even if the Company is not
then subject to the reporting requirements of the Exchange Act. As long as any Investor owns Securities, if the Company is not required to file reports pursuant to the Exchange Act, it will prepare and furnish to the Investors and make publicly
available in accordance with Rule 144(c) such information as is required for the Investors to sell the Securities, including without limitation, under Rule 144. The Company further covenants that it will take such further action as any holder of
Securities may reasonably request, to the extent required from time to time to enable such Person to sell such Securities without registration under the Securities Act, including without limitation, within the requirements of the exemption provided
by Rule 144. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">11. The Company shall use the net proceeds from the sale of the Securities hereunder for working capital,
capital expenditures, and other general corporate purposes. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">12. The Company hereby agrees to use its best efforts to maintain
the listing or quotation of the Common Stock on the Trading Market on which it is currently listed, and concurrently with the Closing, the Company shall apply to list or quote all of the shares that constitute a part of the Units (the
&#147;<U>Shares</U>&#148;) and the shares of Common Stock issueable upon exercise of the Warrants (the &#147;<U>Warrant Shares</U>&#148;) on such Trading Market and promptly secure the listing of all of the Shares and Warrant Shares on such Trading
Market. The Company further agrees, if the Company applies to have the Common Stock traded on any other Trading Market, it will then include in such application all of the Shares and Warrant Shares, and will take such other action as is necessary to
cause all of the Shares and Warrant Shares to be listed or quoted on such other Trading Market as promptly as possible. The Company will then take all action reasonably necessary to continue the listing and trading of its Common Stock on a Trading
Market and will comply in all respects with the Company&#146;s reporting, filing and other obligations under the bylaws or rules of the Trading Market. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">13. The Company has agreed to reimburse Iroquois Master Fund Ltd. (&#147;<U>Iroquois</U>&#148;) at the Closing the non-accountable sum of $17,000 for its legal fees and expenses, none of which has been
paid prior to the Closing. Except as expressly set forth in this Agreement to the contrary, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party
incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all transfer agent fees, stamp taxes and other taxes and duties levied in connection with the delivery of any Securities to the
Investors. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">14. This Agreement may be terminated by the Investor, as to such Investor&#146;s obligations hereunder only and
without any effect whatsoever on the obligations between the Company and the other Investors, by written notice to the other parties, if the Closing has not been consummated on or before February&nbsp;9, 2010. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">15. This Agreement may be executed in two or more counterparts, each of which shall constitute an original, but all of which, when taken
together, shall constitute but one instrument, and shall become effective when one or more counterparts have been signed by each party hereto and delivered to the other parties, it being understood that both parties need not sign the same
counterpart. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as
if such facsimile signature were the original thereof. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">11 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">16. The Investor acknowledges and agrees that such Investor&#146;s receipt of the
Company&#146;s counterpart to this Agreement, together with the Supplement (or the filing by the Company of an electronic version thereof with the Commission), shall constitute written confirmation of the Company&#146;s sale of the Securities to the
Investor. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">17. Except as otherwise herein provided, all statements, requests, notices and agreements shall be in writing and,
if to the Company, shall be sufficient in all respects if delivered or sent to the Company at the offices of the Company at Odyssey Marine Exploration, Inc., 5215 Laurel Street, Tampa, Florida 33607, Attention: Chief Financial Officer, with a copy
to Akerman Senterfitt, 401 East Jackson Street, Suite 1700, Tampa, Florida 33602, Attention: David M. Doney; and if to the Investor, shall be sufficient in all respects if delivered or sent to the Investor at the address set forth on the signature
page to this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">18. This Agreement records the final, complete, and exclusive understanding among the parties
regarding the subjects addressed in it and supersedes any prior or contemporaneous agreement, understanding, or representation, oral or written, by any of them. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">19. This Agreement may not be modified or amended except pursuant to an instrument in writing signed by the Company and the Investor. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"
ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>(Signatures on following page.) </I></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Please confirm that the foregoing correctly sets forth the agreement between us by signing
in the space provided below for that purpose. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="42%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="41%"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name&nbsp;of&nbsp;Investor:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Signature&nbsp;of&nbsp;Investor:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Print Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Address:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Tax ID No.:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="62%"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">Exact&nbsp;name&nbsp;in&nbsp;which&nbsp;book-entry&nbsp;should&nbsp;be&nbsp;made&nbsp;(if&nbsp;different):</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>DWAC INSTRUCTIONS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>(Complete only if applicable) </I></B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="37%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="53%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="5%"></TD></TR>
<TR>
<TD VALIGN="top" ROWSPAN="2"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name of DTC Participant (broker-dealer</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">at which the account or accounts to be credited with the Shares are maintained):</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD ROWSPAN="2" VALIGN="top"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">DTC Participant Number:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Name of Account at DTC Participant being credited with the Shares:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Account Number at DTC Participant being credited with the Shares:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">

<TR>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>AGREED AND ACCEPTED:</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Odyssey Marine Exploration, Inc.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Print&nbsp;Name:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">13 </FONT></P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>g57315ex1_1pg01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g57315ex1_1pg01.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`/P"*`P$1``(1`0,1`?_$`)$``0`!!0`#`0``````
M```````%`00&!P@"`PD*`0$!`0$!`0```````````````0(#!`40```&`0(&
M`@(`!00#``````$"`P0%!@<`$5&1T6*2""$2$Q0Q02)2%6%Q0B2AL181``("
M``0$!`8"`P`````````!$0(A,1(#05%Q@6&1H1/PL<'1X2)B!((C,__:``P#
M`0`"$0,1`#\`_?GL'9S'KH!L'9S'KH!L'9S'KH!L'9S'KH!L'9S'KH!L'9S'
MKH!L'9S'KH!L'9S'KH!L'9S'KH!L'9S'KH!L'9S'KH!L'9S'KH!L'9S'KH!L
M'9S'KH!L'9S'KH!L'9S'KH!L'9S'KH!L'9S'KH#RW'OY!TT`W'OY!TT`W'OY
M!TT`W'OY!TT`W'OY!TT`W'OY!TT`W'OY!TT`W'OY!TT`W'OY!TT`W'OY!TT!
M;E>M#NEV)':!WS9%!PY9$61,[;MW)E2MEEVX"*J23@R"@$,8``XD-L(_4=@+
MC[;_`"`F$/Y"`!L/^WQH!N/?R#IH!N/?R#IH!N/?R#IH!N/?R#IH!N/?R#IH
M!N/?R#IH"FQ>!?,>F@&Q>!?,>F@&Q>!?,>F@&Q>!?,>F@&Q>!?,>F@&Q>!?,
M>F@-=R%\;U^PRL58TW;=E^!@YKRD;!6"86DD#ID))"<T1'/T@7:/E2IE2#90
M2"!A`0'<!SMN:7$6?1-D9/Y1-`Q$Y83T&].8"NQB\U(R8,(MH96-9F4.^5C8
MI_,M9IZLU9(G<?C_`%R'43``(!CF`NK!GWL)TV2\4:.;^[.+'</EVQ-XNR#`
MX=AD9>>?+-FJ2[T5IM>!*S:1Q72KM!4[M(IR&6`H&14`X_7^&H87]FMZ.]$V
MEYF%9>][*[1V]?8U>LN7EAL52HUS`MF,=@TKT/?$IAU%$FV,<HY?'DBM84XF
M0(<I0%5,?R?41-H<]W^VZ55E7%OCXY+J<XW1#)V2,G8KR-@J=GZ]DC(V(Z;E
M6X51O/JK-HH'<7,ECFJRLV9H5.OD</4A"/?)E06(@!00*=0VR3C9;M]VEJ+]
MG67R3Q/KU$)ODXJ-3EG";R438-"23LB16A'+\B!"NUTVI#*$;IK+@8Q2`80*
M`[`(Z'T:IJJ5HU$CL7@7S'IH:&Q>!?,>F@&Q>!?,>F@&Q>!?,>F@&Q>!?,>F
M@&Q>!?,>F@*[CW\@Z:`;CW\@Z:`;CW\@Z:`;CW\@Z:`;CW\@Z:`;CW\@Z:`;
M_/\`S^?Y[!_Y^-`?/+/C3V#]H:I?,58KC:E2J*:T6RCS%XF+8964GDJR$:W(
M4D1&1+IW"1#V?_;34$IU7"J;-,0`J2P[CS?[-^4GIJK-<VX>3Y3F<W9-]:KG
M1Y6J>OS*Q56M8JSO9UK9D+)SJ,,HZFK]'V9I8&-"<QD@<T/'UIM&M=H]!5S]
MY5ZLH)A^X`D`YK9>W&TLGQ^.61DC?U8E%\G5#"4YD%ED%=,K/,N6;)+QBR;J
M1JS"7G(3'E0:H?YE9V5%51-PC^7\QBBB@`ID3!HF4:5["O;2X;1TUZX'L5?S
M+FFKY;:QK;*<BG7IR`F6+8&T;8L9D4DHN%:5TQ$B-BL(!TR,F+3[J.VQ%$P7
MW$`.:'7;A7='_P!(GME]#N#<>X?]0`-O_6AW&X]_(.F@&X]_(.F@&X]_(.F@
M&X]_(.F@&X]_(.F@&X]_(.F@'QQ#S'0#XXAYCH!\<0\QT`X_SV#?X..^G3,C
M<*6<>R'OAZT1[64G?_J;E*4""7=MIW,%=Q%EZRX2B%6#A=J_6>9A@*1(X[&,
MCG#8Y'4@E(J1S0Q1!==/ZFV0UA:-29G6FE:'I:G)\3H.RY1HU0E<<0L]-"UD
M<MV-6I8]1;LI.13L,^C5YRZJ,B.HYHZ:,"A5JV^>`LZ410%-N8`.)Q(4P.ZK
M$SB7#S(].89$@<4.Y8R5^LU4L5XA(+]*3.#VJU*3K\-8I8),C0T2@2,D[5'(
MF247(N<SH@D(8H',4;XQQ,)M^6L%88ON-J/;;#5Z+?O9"W2]<QW%&8G:/LEW
M*OUU>PRC,'C!B+924:P#$QP4>JI?EV(BF8RITTS5+5E'QB<[;FWMN'FW^/P2
M&<[WB#'&.9.RYT6BD\=#*U>#?(S%;D;FVD)NRV:)K]1BV]8BH>>DYF4D[7),
MD&:3=HLJ+I1,2@`AN!*7!MPL36F.,\>KN4K_``L-3G[)')C6MO35:-MN-KGC
M2X.JI`F(WE"5!OD:H5.5F86#_P`V0'1(X%TVA7("H!"GW$TUR[-/Y%6/5HC<
ME^T7JA5,CO*9D*<3=Y'Q4\@'SUNUQ;D.[OJ$[N<2L_@GBT[5Z38&%?&;A"J*
M@<7*7_7`3*?4`U=%VI40_'EF9FL_RRP3?8Z5IUSJ.0JY&6^BV6#MU6F4E58J
M?KLLUEXE\1NNJT<@W>L55T#*M':"B*R?V^Z*R9DS@4Y3%#,05.5*(+'F6<:9
M91M[C&EWKEV1H-\LN+[JI791&1"KY#IRR+>T4Z:_"8PLIZ#5<I@X0/L8GY"C
M_`P#H9V]RFZM5'*3:[K-=BL!EC&MIR!?<55R[UN:R1BUM5GN1J3'2[=S9*4T
MN[%U)T]Q8XM,XNHQ&RQS)5=F90H`NFF8Q=P#5AQ/`JO5V=$_V6?A.1D%=MM9
MMR4LO69N.FTH&P3%4FCQ[LK@(JRU]V9C.03[\8F_7DXIV04UDC;&(;_<-0UG
MD9#\<0\QT`^.(>8Z`?'$/,=`/G^X?`>F@'S_`'#X#TT`^?[A\!Z:`PC)M0<9
M"QOD*@MIMW7'-XH]LI[>PL4A.]@5[-`OX5*:9D!1$3NHM1Z"Z8?<FYTP_J#^
M.JG#DQN4U[=J3$U:\T<(8KS/F/#.(,<8`6]*LRRV5<=8^K>-&#>E%H1/7J<>
M5"NDK\988_,$A:HYG6L>3"<0DX.5[%$G6"+C\7^,77(!%,XS+\OJ86NM*UJL
M4EF\(2RGIX,R[VUQ%D+,&1/1HL$%\K,92\Y7"XY(M^+Y]A%R=`B5O6K,U39+
M%EY2/53=1<C;[2RCMBL%%%B+[_C2+]C%O$;NU[FY5XZ%.3C-89$!6L`Y"I/O
MQC*_'M^9,F8[B_4W-]0E;=DF5K4S%P5SLN5\%3$#`QJ\)7ZVY0DYF$JD@NL!
MT5DCI,D_ZB'#90W9WX:8Y)?(U6D.7/FWSG%]C46;?6SVF]JK7[!VZ,E,;8@;
M`RC\3>MDAD:J7V9OV.U\5VUE?V&=ZXM7+O7HJ*=W?,D/'R+=,S5956&K<7^<
MRA556H:5FH2X-ON\_L9OMVO.2GPY9??N;>S8EF3V#]3\$NWE!R%BK+,QG+U0
ML%^KT#'14C:\4OZ?G:AS&0;!&H2K>?K\I7JT6"=O$'+E%TW6B?JL=(1$4PB<
M.5F=83JE;EB2L#B')T-[D52;RS;,EYTH<)C>QSN!;M*P="AX7#^0W@!5<JP5
MV:X[I=01D)>ZTZ69GK,F]_(DFW"89@D10$55Y;]E#PZ8<(^/,BKIMJ4S$=I3
M]8S(6KVN5PG[5>Z-BMN,,YRL!DR=P;,42;H6(;QD*`L$=5L*0=?F_P!*2J,;
M,-&;]G8FKAHLBY_64^Q""`&(8#:V[)UJN*K'JW]2*KJ[6;P=ICLE\=#'J9#^
MP^-<`^S]XH&-)&I9<]H/82UW3!N-I=DQE%\-*Y2BZ'C2!O&7$:\M,0\>U82=
M>=Y#LS5LLZ!H1\LR,HL\`_VSX'._N^R_;PWG.<83./\`BN'%]3'/6G"WL7ZL
M9^HD3,4['<CAC+V*8G&=YDL0N+W+*P.8L10LM.UO-&1B6.!:MDG&5ZZM(0TO
M)E43,XEFL4"HJ*+;A;7M9XKOEZ=2[>V]N%6-,+TPGJUF^^;))EZXWNS9X]O<
MX4)HXQCG6L>PM/D\)Y"LT'(,JIE"@H>L?KQ#7#&5Q5;D!Y;\,W.?K[V.771*
MLI`3;0))@7]UB)%9JLUI>1*TM6U[5SM:?1?;L;R]!Y2^6'#EWMF1\9W'#]JM
M_L9[%6-UC^],Q0L,$T>Y8LJ3`IERHHMIB&>-6Q5HR20#]>2C%$'*>Q5?J6<?
M#\?<Z;::K^RBTOYMKT.V_G^X?`>FAL?/]P^`]-`/G^X?`>F@'QQ#S'0#XXAY
MCH!\<0\QT`^.(>8Z`MW15S-URM3IIN3)*%044'[D36$@@FH<H@(&*0VPB&P[
MZ!XJ'D6I@E#BT434:H`DN?\`=;F**_[C80$A!16`R7ZBI=_R;?4X;A]-]OZM
M`>#1&5(5W^U()*G.]6.TV;H@F@Q%V95!$0)]#J+%:&_$)S&'<2@;;??<"X?@
M_,V4_P`<J@1U]T3)_L?*0D(H0RJ0B!1$H+)E$OVV,)?MN`;@`:`NB_D^QQ,H
M42&$HD(&Q1(`$*!B_8!$3;GW'?XT!#)(3X2RZJTFQ-#_`)5%&[4K'9V*2C9!
M(C95R+@0_P"LZ246_(!=U"K`F)0_']S`5;HSQ4VR;E^P64*X=_MN4FAD/S-C
M'4.R!!N*ZI4E$RB4BNYC?;81+MN&P%\LF_.DZ(B[;(JG,'Z:HMQ5!LG]4P$%
M4S+E!PH)@/\`.Y`V$/CX'<#UF3D_V6XD>MOU"LG*;DJC?==1^91L+-RF8AR$
M(BFF54%$_P#D)B["&P[@7B!5B(IE<+$77*7958A10(H?^9R(@93\11_D7[&V
MXC_'0'M^.(>8Z`?'$/,=`/CB'F.@'QQ#S'0%-R\2^`]=`-R\2^`]=`-R\2^`
M]=`-R\2^`]=`-R\2^`]=`-R\2^`]=`-R\2^`]=`-R\2^`]=`-R\2^`]=`-R\
M2^`]=`-R\2^`]=`-R\2^`]=`-R\2^`]=`-R\2^`]=`-R\2^`]=`-R\2^`]=`
0-R\2^`]=`-R\2^`]=`?_V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>g57315ex1_1pg04a.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g57315ex1_1pg04a.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`,@!H`P$1``(1`0,1`?_$`)$``0`"`@,!`0``````
M```````&"`$'`@0%`PH!`0$!`0$````````````````"`0,$$```!@$"!`0$
M!00#```````!`@,$!08'`!&1T1(((3%2$T%1@11A<:$B%;'!,C,C%A<1``("
M``4!!@4%`0`````````!$0(A,4$2`U%A<8&A,A.1L?$B0O#!X004!?_:``P#
M`0`"$0,1`#\`_?IL7T&X#ST`V+Z#<!YZ`;%]!N`\]`-B^@W`>>@&Q?0;@//0
M#8OH-P'GH!L7T&X#ST!#_P#N;$;X7'Z+"07D"U4]L?2*16PQ<:T-*%BH]D\.
M+@'9)&5537.@0$A(9)JH(F`0`!O8]KL\M.WZ$*Z=MNI,-B^@W`>>H+&Q?0;@
M//0#8OH-P'GH!L7T&X#ST`V+Z#<!YZ`;E]9N(\M`-R^LW$>6@&Y?6;B/+0$6
MD;S58BUUNC/YA!&V6YC/25=A3%6.[DH^LD8J3KTG0D9-)M&A)MP.<YB@)EBE
M#<1VU2J[)M9+/Y`E(B7SZC!Y>`;_`*>&I7W9&-I*60^K9`H]V>VF.J-KAK&_
MI%@7JEO:1$@B]<5NR-FK1ZO"S"2)C&92!&CY%3VS[")%`$-PUK3K@PK*RE9$
MQ$0)XB8WUW'^WXZP-JJW/)%?L''/9WF3LI.E6CD+E?I>%K#YF`F*>@8_55JM
M?1]\5%BKD6F6\J]*=,03-][X!ON(T[6=55O[5DNAE=K6^NJ+`;E]9N(\M24-
MR^LW$>6@'[?4;]>6F82DX*JI()G665]I%,HG454,!$TR!_D=0YMBD(4/$1$0
M``T@:P="*F8F<;J.XB01D6J;E9H9RT4]U`7#<2@J1-8H"FL4O4'[B"8@[^`C
MH#T]Q^9.(Z`;C\R<1T`W-\R<1T!2F!>AD3ONN[U`[=U"]O6"8&F`J5!<JC._
MYCL9K5/-A=](-W`(TZFQ/4F!C^V+CR*;<1[P^/CP_+/N6)QX^7W+-)IU73KT
M-V=Q64D\,X3R'D3W$@DH2",UK*!Q1'^0ND^Z;5VDQ1$W#AJ1965MDLS;E3`Y
M3'%38OCMKA7[<B?[?);B_KVO7UI8=[P10JL33'#O</C'MZP3%Q-CS#/8+:U/
M.]QD'$FO2,?#1&Z]IA;1:R-%V[6UWZ6F[9*&2A6RK>26:R":[E=!J1,P]\+U
M=[>HS<J-<?&T^O?]-"]N5[!*8KPA<IQ)R]LUI95U1E&KJ"1)S-W*=4;P$$84
MFWVR3)NXGI%ONFETE01W`H_MWUQ1?/Z'1Y-$YQG26>-L?4RB1YB';52MP\(*
M^Y]W;A@R11>OU.L1.*T@]!1=03>(G4$1\1UATI7;156221.=Q^9.(Z%#<?F3
MSV\Q\Q\@_,=`4BN_<'D;).39_`G:[!(+RM04;,\O=P]MB%I+$F)G,@VD.FK5
M=BW>,SY;S$R6;)"ZA4'#>/A4G!%))R4XD:*[V'&O+2]XM6ZK7%PL7V5E1/6=
M$\S8%2[7*PQ<M)S)MWR3G>WIQJ;!W+91M:SBMKF%3[AXJTQ76$*YBJ.([=%*
M<"EACG2!,A2GV+N8SK5.M=KQ<S^NPLV@@BU12;MTDD$$$R)(HHID2123(4"D
M(DDF4J:9"E#8"E``#6&F=@^)=OJ(_P!-`-@^!=P^`[[?H/CH#6.7<EL<44F4
MM"T:\GID2A'5"GQ)FZEAN]N>E.2$JM=9N%VX/I*1<%W,`&V0;$574$J21S`S
M:JLX;^"DYWY-F&KR[7T*H=CF'I;$TUW-JVB0/8;W>LNP5LR':#/1<ISMVD,7
M4=[/`P3,NJ=C"PSU^9A'MS`0R;%LEX>.^O1S8JK/'_STJ>[PS-N/DAVULVIW
M-:=-3P^^&;OV0KOV^]JF&':$5D+(-N/E>W7)W%M)ECB3%>)W#1ROD%:.D#D9
M25A->)&,;0+,Y3@M(`*X])&IAUYSWVK6ZVW4U9M.*PK6\$LNVJET1)R$;!9*
MFBS<Y+O3OK':YFRX\NSFR6JU2CT[B0LEJM,PA[[IRLH8^X[`($(0@:<O9K5K
M9A5/(L!E"CO;Y7F$9'RB<2\B;35+8V%RV.]CI%>JSK*<1BI1NDNU<&8/560%
M,9-0IR#L8`-MTCA=Z;T:0O\`DS(6`I^G6K)LU%6K#-NGX>C6J;CH1&L*8ALU
MKE6\32K$_*9Y(GEZ#+3;Q"*D7#AP1>+7<(.AZFYEP1TBG'R5M-KS3I$>9;0.
MD0,(%$=A$`\#`(B'F&PAOYZPZV;2;6+*%9#S=/\`<9/SW;YVHV$IB1SW^'SC
MW(1*+J3I.)XY)^HTL%%HD\S<LHZVYV>MFJS8&K-RLA6!4*YD-E?9;*B:7K>7
M7&O7J6VQ5BJA84Q[5L78TKK.KTFG1A(N#B&?N']M/W#N';U\\7.H[E)F6?+*
M.GSUP=1R]>+*+K'.H<QA%FPP*`>0:`SH#6&9Z7:LAXON5*I%Q;8_M5BBOX^'
MN3R"<V9M!+'<MSN'*T$SGZL[D2*LB*H]"<BT.'N=0*!ML(&HK])]YD=4XR"Q
MA5^W^Q7_`.Q9I260+S/7>M8X2<I%12?/RT2OM+%<_<=&*=1)@23.FD4P%,^,
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M$$$UT51#J*('(.QBB4P`(;)#I.3:*DO^QNJ3L>PK-HSOW463'D;[J"&-W.;)
M:%K3J'.V!DA7)N5J4=7;Y8X%HS*"14)"9<^Z3_<941,([O:::B$FLLYU?:M'
MH8N-ISN9:ZBT*DXPJ<)1,=52OTBF5QH#&"J]6B64)!Q37W#K'291L>B@U1%9
M=4ZBA@+UJJG,<XF.8QADM))0L$2W0T:`:`:`:`P8H&`2F#<#`("'S`0V$.&@
M*ZW/MVA<BP<W0[Y:)^S8OM,TZEK707B$2FPMT>Z.@LYJ5HE$69)&5J#M5$"N
M60"E]VW_`.%<ZB8G`]-JU76^.$>;_;#^3BN+:W+FEGDTLH63SS4SGID6&111
M;(I-VZ22#=!)-%!!%,J2***10(DDDD0"D323(4`*4````-@U*22A9'9MMR\S
MZZ`:`:`:`:`:`QN'EN&^@,Z`:`:`:`Q\0^OY_#0QYHSH:-`-`-`-`-`-`<!\
..Q_U^?Q\_K^.@.>@/_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>g57315ex1_1pg04b.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g57315ex1_1pg04b.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`5@$/`P$1``(1`0,1`?_$`+````$$`P$!`0``````
M```````!`@8'`P4(!`D*`0$``04!`0``````````````!@$#!`4'`@@0``$$
M`0(#!08%`P,%`0$```$"`P0%$0`&(1(',9$B4A-!4:'18A1A<8$5"#(C%K'!
MX?!"@N(SDB01``(!`P,"!`4!!08%`@<```$"`P`1!"$%!C$202(3!U%A<3(4
M@9$C,Q4(H;%"8B06\,%2<C3Q%]'ADJ*R8T3_V@`,`P$``A$#$0`_`/W[>/Z?
MCI2CQ_3\=*4>/Z?CI2CQ_3\=*4A*@,DH`]YR!IUI:_2DY\YPMLX[?%V>WCQX
M<-4#*VBD&W_.A(%[Z6Z_+ZT!?-CE4VK(R,'.1VY&#V8.JG0V/6O*LKCN0@KI
MJ->O3]OA3O']/QTKU1X_I^.E*/']/QTI1X_I^.E*/%]/QTI1XOI^.E*/']/Q
MTI1X_I^.E*"5`9/*`.))S@#2J$@"YZ5Y)4QF(RJ2_(CL1V@5.NNO---('#!4
MZ\M#:.WVD#5V.)Y&[$4LYZ``D_H!6+FYV)@8C9>9+'#C@7[W944#XEG(0#YD
MCY57JNK6PA,^U3O';Y<#OHK0+"/Z*'"4H"%S<_:I65N)P"L#Q#WZSEV3?3'Z
M[8;+A=?4+"]O`^G]VO2W4?I4&/NMP*1OQL;<\-\H=2&<Q_,B?M_'L.O<9.TV
MT.HJQF'2\DK2I*DGEQV'@4)4,%!(((.<_CK6%'1B'%M=/I_ZWKH$,T<\*2Q7
M*LH-_C?4$>!!&H*D@^!K/X_I^.E7*/']/QTI1X_I^.E*3)'$E`'OR?9VZ4MX
M>-87I3,9I3\B1&88;&7'GG4--('O4XXI*$C\SKW''),0L*EG/0`$W_05CY67
MB8..V7FRQPXJ?<[LJ*/JS$`?J:\D2WKIJEHB6,"4M.5%#$J.ZH(\W*TZM7*/
M?V:]/BY4"^I.C+'\2I`O\R1:M;M_)>/[O*8-KS,6>91<K'-&[6'4V5B;?/I\
MZV(*B`04$'B",D$'V@ZM`@ZCI6Y!!%QTI?']/QTJM'C^GXZ4H\?T_'2E'C^G
MXZ4H\?T_'2E'C^GXZ4H\?T_'2E'C^GXZ4HY$^[XGYZ4I0`.P:4I=*5B20LDA
M/#F6"2KVI)'`#MR1JA)N`!I2JKZA=14[<E0-I;<JU;HWYN)3;-/M^/*$9J.V
MHJ+MQ?S0S)-325[2"XZX6U+6D$-I4=2':>/?S*!]PW25\38(B`TX!+LW41PJ
M""[G2^H5;^<VKG/,N=2;+F1<8XWC1[GSC,4F'%:1HHD0*W=/E3*C>E"MN@O)
M+]J+XBGNJ6RO\:Z9]0=^=2][6FY+V)M&^57U+-E-VYL.OLGH<I-/75.VJN0P
MN>M%A(:;0_-<ERG,`@I/#4DX[N<F5R7;]JXU"F%AME1AF$<<L[J'#22R2.CV
M/8&9EC`0"X`\3R3G?!6VKV_W7EGN=NF7O>\0[?/Z>,LLF+MB22@K!!%@H_IR
M]DCK''+DB:5EMW6^VNA]AUUQ7;/VE"W$IE^]@[7H(=S*8+@;?MH]3"9LG&D.
MY=2TN:VLIYCS8QGCJ%[Q+!D;UEY&,/\`2/E3-'TNJ.Y(&FG2W2PKOG#L#*VS
MB>V8&:1^=#M^-'+8$`O'$JFP\!>XMX5,`D9/AQ@X!SV\`<CC[SC6OJ2U'=W;
MHIMC;6W)O3<4C[+;^TZ*UW'=S>1]]4:JIH+]C/?3'CM//OK;BQU$(0E2U'@D
M$G&LG#Q)L[+CPL<%IY75%`%[LQ`']]:[=]TQ-DVO(WC/;MP<6"260_!(T+D@
M>)TM;_TJ#[$ZNT^]GJ^"]7S=N6EQ15VZ*>MN2AIZWV[;Q43*ZRKW&T>DXM;*
MO[L911*CE)]1M.,ZW&Z\??`A.9AS)E[<LAC>6,,%20?X6#`'7JK?:PM8WTJ#
M<-]Q1R/-.R;[@3;+R8P#(BQ9Y(Y&GQ6-EGB>/RM8W$T1M)`>T.OFN+;3V=A3
M^!_(:CU=)'2YZT[2JT:4I@2./AQC\3QTJ@)/46HY4YQRG\^./]=*K6IO[2+0
MT-S>3`X(M156%G(#*%//%F#%=DN)9:3DNO*2WA*1Q4H@:OXN-)FY,>'#V^K+
M(J+W?;=R%%_E<Z_*L#==RQ]FVO)W?+!;%Q,>29P.I2)"[`?,JIM55;+VNYO.
MIK=X[W7'NG-P5S%K5T)4E[;FW:ZS9:E0X,>"E(C65DW'6C[B:^''%N@AOD;`
M!WV[Y8VK-;!V,O#Z(]*1R3W3.C$/(UOMN?*J*0H0"]V+$\IXCQ1N68V+S/GP
MQ]QS,F,9&-CV)PL&&4!HX(H+F.9NPJ9<B4,SO<(%4"]IHJX3=:(#4:*80;]%
MR-Z2%QU-C+:V_26@MJ'#L*3J/M-+).9Y#=B2>EC?J/[?G751MV",%L%L6!L1
MA8P!!Z%O%1%;M[+=$[;=!5?=,+:D5(WIM6BOJZZ8VIN5Z$W%@3X4U5`T^PRX
M[0R/MWG7&'*>P2_'])PAQDH]-0!3@;3<ADY.'B[MDJ0^1&X+$6[FC=E)TTO;
MMO;ZG6N?^W8P]IW'>^'XF49L;`SUEAC+=WXT&7$LJXZ&Y8I')ZG:#H@/IKH@
MJV0D>7'ZG6F/RKJ%+RI]WQ.J&]OG2L+BPA"W`E)2VE:EJ4YR)2$#)RH@@`#C
MGL&J1F1Y1&5(4^/4W\`!XWKR[QQ*9)6"PJ"68^``N3]/CK5-3>H5CNJ<JAZ9
M5<:]2VM;-IO.P?*-DU+Z''$.PF7XQ,S<=HV486Q#(;;'_P!'FSPU*8-H@P<8
MYV\R^E*K`#&__H8$`]Y%BL:6(*ES=N@7X<8F]S)N9YT_&_;*"//]-2LVY9`E
MCVR)CHL<$B6?/R!8,T>.1#&I!DG!\E>J#TCC2YC5OOFZF[XN&TH6VFS"6MM0
M7B07OVG:3.*J*DA(2EU_[N4$C_Z\3G&R=_RCCG;]J`PL&][Q>6=M=`\_W%1X
M*H4:F_6]9VU^T^WY4T6X>Y$[\FW>$`HV4.W&B?6Y@PD_T\0U'WB5C8$M>]>S
M>VPJ9^I=LZF%"J[S;D.?9T5G""*QZOG,0UN-(<?C^DE5=)"/3?:<"VEM+5E/
M8=><#=L]YQ@3N7VS)>-)T))[T[QW``W'<?`^%9O,."[')LLN=M$&-MV^X44D
MV-E8T,4$T$L:$I^]C53Z36*S1E666.ZD=#4VVM:,WNV:"[:<C/HM:BOL`Y"D
M-RHI5+C-ON)CR&26GFFUK*0H=H&M;G8B8&;+A1CMCBD9`+6L%8@:>&E3+C&Z
M/O?&MOWB0()<K!@F8*;J&DB5V`/P#$UO<)\BNX_/6+6\HPGR*[C\]*483Y%=
MQ^>E*,)\BNX_/2E&$^17<?GI2C"?(KN/STI1A/D5W'YZ4HPGR*[C\]*5DTI1
MI2F%QM)*5+2%`!7*5#FY22`>7.<$C&@%^E*H_>VZ=[[@5_C722,CUQ;P8=]O
M1P0S74<0RBJU;K43TF/:63+#92Z6TO".5XY2[@)E6V[?MF`1F<C+A?3[XX`#
M>;3RAB-40FVIL2NHTKC7(>6\IY/F2\<]L$B>.*5(LK<F(]+%)8"5(%8=F1D1
MI<D`LB'RM=_*)YLC95=LVN5'1)<N;J0\_(NMR3P'+FXF2'EO*>GR%N/._P!M
MM2&VT<Y2AIM"1P2-:O>-VFW?)]5E$6*@[8H5/[N)/^E!T`O<DVNQ))N:G/$>
M)X?%<#T5E?+W>4*<G+DMZ^5(H[1),PO=@ME4=%4!1H*HKKE6Q.H75+HOTM?A
M/S8T>SF=3;\QY;[+<>DVL]%CL,6S#;D=$BML[26VA*>=2B^VGP%`7F3\6EGV
M;9=QY'&[Q2",8T+#3NDE'G"GJ&6.Y/0=K=;Z5RGW7BP^7\]XQ[99>*V3AS23
M[EDM<A8\?"[%7O((MZD\L:@&Y8K8"W<1U9J!5]!4:4KG;^5^X'-N?QSZT6+=
M([>*:Z<[P0:\!'I2&?\`&[.1)6XI:@TEEF.PLJ+A0C/#/'C)^%1^MR_;(`_8
M\F;$JGQ[BP[0+>)-@/K7/?=C(7$]M-\RI%[HH]NE9K].T+YB?DHNQ^E2&_KD
MVFQ]E;SJLFXVK7T>Y*MZ(MIP2ZQVL:;NJLOH+J'8EG2R70"A>%.I;4"H#!QM
MMR6Q\R7;,HE</*[HI`;V4W\CD?\`5&]F!M<6-8W/MO&1QN'E&V1"3?-G*9F,
MZ6$G8H'Y$:/<>2?&,D;K>S`CQ`JV:Z4Q+BLO1W%.MN,,/H4K/,6GVDK9420,
M\R..M))')%*\<H*NKE;?]I[?[;7_`%J>[=N&-NN''N.(W=CY$23*=?ME02+U
M\.UA;X5[]>*SJ-*4:4I!PX$Y]WL)^9TI6EW#3(W#07=#(<#;5Q63JU;O)S^F
MW-C+CJ7R!2.?D]0\,C.LG$R#B9<66GW12*X^JL&_Y5K=WV]=WVC+VF4VCRL:
M6$FU["6-D)MXV[KVJH>@^X%,;<1TRO(KU)N[IRV:!VFGMMQY,S;5:\N!MO<=
M<&E+C3:>SK6&^1UA2T(6DMKY'$J0)%RK%@?-.];:2^UYEI`>OIRN.Z2%C86=
M&OIT(M8FN9^U.^S8V!_[<\D>./FFR1K$\=BOY&(OEQLR`-_$AD0!&92>R571
MPIL#>KB2MM2<X44D`I)3A7L(/:,'44/32NO@V-ZIC8M?!@=4^JHA5$.M#\;:
M$B0[#AQXR9LU^/:2)\EQQAMLOO.RWE*<4KBIPE1R229)NC#_`&_MD9/[P+D$
MCX`RZ?ML3\:Y9Q`(WN-RV6);0^KMR]UM&=<3SV^EP#;2_P`[U=>HW74J-*5R
MKU"MK3JQU1'0NJDIK=K;>AP]S=2[2ON)K-I/@/-,+@[2]*!&876?N"YS+JE*
ME!3S.5!!2@I<G>UXB[!L`Y5EQ+)D93/%B!AH&0CU)K'KV?:MNCV-<#YCFY?N
M/SE_:;;9I<;8,&!,C=YHG9)'28?N<&-U^PR@EY23K&+`:$'I*EHJF@KH-945
MT.L@U\-B%$AP6$1XT:.PTAI#++2/"A"4H`]^-0G)GFS,@Y64[RY!)/<YNQOU
MN?$UW#;MMV_9MNQ]FVF)(-JQ(A%!&B@+'&H`"J`!86`O;J=3K6W)QP]IS@>_
M'PU:K,JO^I%]`H]KV#$IYK[W<;;VW*.O)!DVEM:0Y#3$&*V$.EYTH"UD<I2$
M())UM-DQ,C)W%&A!*Q,)&/@B(068GH`*A7N+O6/LG#<^=P'S)<:2&"*_FGR)
M49(H8QU9W8Z*-;`G0`D;S:M,QMK;-'0QF&X\>JKXD!M$>.&4@LM)0XZ6&4!+
M:GW@I:CP\2B3VZL[EF/G[A/FR$EY96:_U)M_96VXKLL?'.,[?L$8`7"PX8=+
M`$QQJC-IIYV!<_,U(,CSGN.L&M_1P\Y[CI2CAYSW'2E'#SGN.E*4<>`6>X_/
M2E/`P.TG\]*4!(`QD_JI1/>3G7D*`+:_M-5O<WI.7AC*O_T<]Y.=5`LO;K:W
MZ_MI?6^E)E?E'?\`\ZK5*Q/%0024H)X)`5CQ$G`3[>W.EF;1;7_Y>-4+HEO4
M)"D@::FYT&E5M=.6&Z7I-35N/5U<T/MKS<,3TV9I2A0#E12R%DJ3(=22'I`X
M,!12C^YQ3NX(X,+MGE[3D'5%(N#\W'P'@/'Z5S#?)]XY;FR<8VMGP=B1^W-W
M!3VN`MBL&*^@:1NDDX%H0W8!WU.:BE@441B!51&(4**R(\>,PVAMIII*U+P.
M7!45*622<E1.222=:F6>:=V>9V=F:^IO;2UA\AX#H!H-`*Z!M>U8&R8*;7M$
M28^UQCRQ(H"@DW9OB68DEB22Q))U)K8+`;0ZX`E"U8RH)&2>"4E6.*B,^W5A
MY8XE[Y39`1_:;`?4FP'S-9UK&Z`=Q_9?XGY?'Y5SQT9@+W5O3J=UFFJ2^G<-
MR-C;)?&%M)V%L=QZ'ZT17,LI9N]VN3Y2B,<X2V3P`&I[RI_Y5M>W\22W?!%^
M3/\`'U\D!^Q_`M%%V)\B2*X+[1XV=R/EO)O=3<)#)M^XYWX6U#JJ;=@_NS*E
M]1^7DB61Q?M(CC(4&Y-O[WW?!V/MZ?N*P0MYJ&A9:B,E!D3'4M..B/%2I2>=
MY:6B?<E(*CP!U%]HVV7=\^/`AT=R!?X7(&O[:Z-[B<[VKVWXAF<NW97EBQHR
M4AC_`(N1+8E88@="[6+?]JL?"M[53S:5T.Q;3RMS&&Y*$D!)2AU"5H!'.O)"
M5=H.#VZPLB%L>9H'^Y6(_8:E>WY#9FWP9K=O[^%)1:^@D4.`=3J`;'YUI]Y4
M,;=6V-P;8L?3^PW'1W%'-;6`4N1K6O?@/9!"@>1N03^FF)FMM^=#FPL1EPR)
M*GUB=7O_`&`:'H36#R'9\?D.QY>Q9)M'FXLT%M"I]:)X[,"#>W=<?,5571+<
M\F_Z)[;5;^DW:;?IK#9NZ(Y67"BZV4N9MFY:Y^=047'ZI2\GV+!U+>;[<V#S
M2=L4#\'(E7(7_+'D*LT?;].\+XZ"N1^SG(9.0>SF-_-6#9VTXV1M^X=?X^W&
M3$R!J23<PEKDG4U:6R`__B>W5/-AMW]GK\H)!6VE45I2&U*SDE*2!J/[R5.Z
MY!7IZS__`)&IU[8+*OMWL@R/_(_EL%_H4!3_`.PK4L.0`$@<.&.P8^&M94[I
MF%_CVY[1W=O9JM_D*I;6]03>%A.<F4FV*JP=KIMZJ4Y,G,A)?KZ6!Z/[A(C%
M84AN:ZY):9940H!3A5CPZV^VPQ>C-FSH&2+M"@]"['R@_$6!)'RKFW/=SW++
MSMOX%Q_(;%WK=FDDDG3^)CX.,%.3+&3<+*S/%%$S!@K.3:XJJ9]G(Z3[YV,A
M5K;6NR.I%L-GJ8MYDJW50;T?B3+&AGQ9\N2XZB%?,0W8[K>>0/I;4D#G.)!B
MX+<IVO,7%CA7<=MQSD710I>%6`F[_B8^X%?$`D$D"N:Y$61[+<UV63&S=QR/
M;WD&2-NR(LS)ERV@W)@S8V3!+,S.BY)#PRQ]WIW561%/7I!)<*>T$\1D8P/8
M#Q/$Z@JR1RKW1&Z?&OI.S6LVC?\`%JKO?FR6]QO5MW6SO\?WC1>JO;VXF4(<
M<B^H1]Q!GM92;&EGA01(CJ)2<A2>58"M;O:=X&`7Q)XUFPI@0T;7L>GF!'VN
MO56%CU%[7KG/N#P*'E\,&=M<[[;S?"8OA;A"BM/`1]T;HP(GQ)+E9\<BS!NX
M68`UJMF]1C>39.T-TP&MN;[AAQ4VE?#ABW$!M2VT7-!-6EMFVK'T)25<F5M9
M*%I&,ZO[ML<F!"FYX!_+V66P$B#6%R+^GD)U0@^4/]K&UJT?"/<Z3==UDX#S
MN&+:?=""+U#BART63'W6&1A3'2=+:S1J2\#'L?I<[O8"T36MRW#2PZ+'=EPA
MM>0?_P":L6W5LM@]H:0J(HI&<#F)]NK6]1'&7$PS<]F'&3]9+R&W_P!0'QK9
M^V&;#O`WW?H-8\G?\N-3\5Q"N)?Y>>%_EX^-3\APG.2/P&,=VM'8_'QKIY%[
M6TM6OMY<:OJ;.?9+;;KX-?,FSGGN4-M0XL=U^2XOL`0AA"B3[AKW'$TSK"M^
MYR%'U.@K'S<W'VW#EW'+TQ<>)I'_`.V-2S']@)KFO^)L%^?T]M^ITY)1=]:-
MX7W4J?E86IBNM);D/;,%)YE($:)MV#'],#@>8J_[M=(]TY?Q.11\4Q2#MFRX
M,&(K6`9I@G?DNUM.YI7\`.ECTKY^_IJQ,C<^%Y?N7GNS[ARS=LC<?DF.7,6+
M"E_,(TB2Z@DF[G6V@ZF0%#^HY/L)"<X_\0!KF@%A8ZFOHJL3[@:;=><6EIMI
MMQQ3JBE*6TH05*6M2N"4I2,DGAKVOW`?.K<Q"QLY8(H4DL38#3J2=`!U)\*J
MVL93O^_KMT.!M>W=M.R7=LAZ$R7;*Y4AV$[N!#DALO-18<=QQJ(6^4.^HM9)
M')K;2LVWXSXT9_>S`=UCT7[K"W_5T-[Z`?6N0;!)_P"Y/(,?EH:1.)[5(XPU
M90K9L]FB?,<,"WH1$NN)V]H<N\C=P[`+5`<P,DDCM.$CF_,>S/X:U!ZZ5V,T
MN%>1/</GJE*,*\B>X?/2E&%>1/</GI2C"O(GN'STI2C.>*4C\1CYZ4I^E*-*
M4:4K'A/E(_/./]=*5"=PJG6JV]N4LA413[Z'+BQ:(+E=7(_NNQF5`\S=C9)\
M#2@#Z22I9[`#GXH&,WY4R@H`>P?%CXD'J!?6H)RH3\C<\4VG*EQ\MY$.5-#;
MOQ\<`$@.?X<LZ^2,B[K<O8``U)JROCUD)J!'C(8C1@6X[+7%"&<Y`_I1Q)))
MSDD\2223K%FD,TAF;^(VK?\`=X_\:?2I9MFWXNUX,>V8,$4&!`.R-$Z!!T)N
M!YF-RW6[$DDDUL,)\BNX_/5JL^JQZM[F>V[L+<+M:'OWRR:9VWM]MIM;KR[_
M`''+8HZE;3;8<4O[>7/2\K@<(;42,`ZWG&,#^9[S$DJD8D#F:0MH#'`/5?\`
M1@O:/F:YI[M\ESN,>WNYYVS:\BDB7%PU\6R\QACXQ`'6SOZAM<]J,;:6J2;'
MVW#V=M6BVG7HY8-!60ZN.OL,@QF@E^4Y@#^Y,?"G5'VJ63K&WC<'W;=,C=)3
M>7(F>0CP4,;A!\D%E'R%23A7$\#@G$-MX?MMOQMOPXH;C_$RKYW-]>Z20N[?
M,U1'6&\E.;6ZI[G$9I4+9&T[^GV\B4VE<>=NZTKUU[DE2!E:FXCTMF*"".+C
MF-3#B&#"=VV;:R1^1N&9%-+;HD43]]B?!BJL;?(5PCW*W3(WS`Y3R61`NR\?
MVK,Q,(OH7S\F!H,A[:@QQ^I&@:_==C8?'HG;\94.CJ8;K92[#KX<1P`</4C1
MVV5D<>PJ0=0/*E6?*EG3['E=A]"Q(_LKZ-V;$&W[/AX(Z0XL2?0J@4_VBMQA
M/D5W'YZL5L:X[N[56Q^K5ST[?].'MGKA-3N*CLPM"(U%?0F$0^H-?/=\*(CF
MX8,6._!*C_?ENOHR%#CTO;\./<^)8^ZQ(!G[*TD4BM?NGAE8RXSQ:'O>*:61
M)$/:1`%=>X"OCKF6:>%^Y.Z>W6;-%A\8Y\8<F*5I`IQYU[<?<_4+>6*/)@CB
M;&>X$F4YC/:7N>MJQEEF*&6D!#31#;;:0A*6T(0A*4)2WP`2$\.WA[=<V<L[
MF:0$2R'N:][W/U^E?7>'!#BXZ8>,O;APJ$B%K`1J`$518>5%LBGQ50:]V$^1
M7<?GKS655>6&[F(74.DV.ZPI*MQ[<OKF!(6E10_*V_85$:9$Y@"E*FXELET`
MG*D\Q`\)UM(MK.9LN3N?:UL:>*-QX]LH;M<?Y>Y;$^!\*@.;RV7;_<+;^(/V
MIC;CM^7-"[=),G%DB,D0(UNL3^I;Q4$WTK%`=^\ZE;BYTDM4^V:*`@GSV<N?
M8O<O;Q*([05Q]@UDY("<:QW70RY4CGZ1J$_O)M6DVV?^:>\6ZW!]+;MBPX-0
M-6R9I9CVGK:R#NN;WMX56'\E%,/U?1^`E*T6%A_(#I8W4Y:"^23%L9=C*6H!
M+JFVQ4PI`4H)..;'`$D2CVS8_G[Q/;]S#Q_/9_FK1B,`?$EW4VTTOXZ5%/ZA
MX5S-EXUMB:961S39Q%?H&CF,Y)ZZ!(V&@/F(%K:CI1"0`04DX)QC)X'C^'MU
MS=%[%[?`6M]+"OH,6MI?4DZ_$DFGX2>U!/Z?\Z]U7Y^-4IUCIMO;BV^W7V<5
MQZZ=L3#VD_5S'*Z_KK^6VN/'GU<YA/W$5<%IQ;[ISZ9;;\0(.I%QK)W+$S#E
M8U@D-G?O`,3Q@W*,#<$./W;"Q^X_4<(_J`V[B^Y<.BV[D<,LV_966L.U+CRM
M#DG)E';WQ2H"\?XZEIY6`*JL9[M;"H/M:YW%T4$':740?NVS&V&XU#U1CQ$M
MI^X6KFD-=1&&`ANGG2'U$HG(3]K).,\B^;4CW/%VGFV5-D\?"P[S+>27`[C9
M1J!^)>_<EA]C,).[N[0P`J(<2W7D_L&^-PCGR+F>V\EDQ-WQ8?+#*Q,DG\Y-
MP(6+$_ZP=T+CM,K(Y8#IJ/*CRDH<8(=:<;2ZTZVM#C3K2@E2'&EH6H+;6%9"
MAP(X@ZYU*KP3_CR*P>Q\-`0;%3\&^1^?PKZ?QLK$SH%RL&6.;&=05=#W*5.J
MLI&C*PU5E)5AJ#49Z@U$F_V%O>B@!8G76T-R5$,A(4?NK*FFPH^$J"TD^L\.
M!!'X:V>RY4>#O.)FRW,4.5$[6MT216/6PZ#QK3\KV[)W?BVY[3AV.9E;?D0I
M?0=\D+HMSK8=Q%S58?Q<NX=[T%Z9%AC[5^EVK5;7M8"TAEZLN]LQTTEK6R(_
MA6P_$EPE)*5!)Q@XXZE/NAB/B^X6[/W"3$R<M\B&0:K)%.?4213XJP8?L-<A
M_I@WS&WGV+X_CQ'_`%FV88V_)6UC'E81_'GC939E*NE[,JMVLI(UJ[[6WK**
M`_8VLR/!A1D<[S\AU#:$C(`&5J&5*)P`.)/`<=0K'QILJ40P*2Y_XU^%=FWS
M?]CXUMLN\<ARX,/:X%[I)96"JH_O)-P``"22``35;+AV'4A#3TQJ95[)]9+B
M*F4TN%9;I0R0MERR3S%^!2*6`I+'@>D)']P)0K!VC,FTL\0LVX+H&4W1-""/
M@Q^?0>%ZY=!C9WNKBQ[EE138O`BX>/'F5HI]P56!CFFC/G@QA]\<+]LLPLTJ
M1BP-HLLH9"6T,I;:0A+;:6P$)2E``2A+:$(0A"4C@!V:TG<Y^[ZGZ^-=CAB6
M).T`"P"BW0*!H!TL/\HT'QK/A/D5W'YZ5=HPGR*[C\]*483Y%=Q^>E*,)\BN
MX_/2E&$^17<?GI2E&,\$J'XG/STI3]*5'[C<M%1J0+>RAPN?@VF1*8:<=42G
MP,LN.H>?5RG/@2K@-96+M^9FO_IHV>P/0'^^UO\`YU']ZY5QWCB^IOV;BXD/
M;W7DE13UMHES(?J$(^)%,@[EIIFW7MTL3FG*%,6=9??@_P!H08`>^Z>SY&Q&
M6?R&JR8DR98PB!Z_<%T.EST%_P!;'YUBX/,^.9_$FYSC9"MQ9<:7(]?M8#T(
M0QDD*D=UE"-X>8`$=:\.Z=Q)IF83,5]#MK<2TU-/$'*KUI[[:GO6="4.*3&@
MQ6EONG&`A!]XU<Q,)YU>:3R8L"B21S]H4&UB?#O8A1XWZ&O'+N1G8]OQX,-#
M+O.YY*8V&%\97N2Y)!4)%&KRNS"UD[>K"O9MVE:I(+3`<6_+D%<JRFNE2G9M
MA(RY)E/94I(*U\$I'!"`$C@!JUDR^J[=ND08]H^`OH/T'Z_&LGB_'DX[MPPO
M4];+9FEGF-^[(R'/[R9KDGS'54![8ULB!5``D7'SCN&L6I)1Q\X[AI2J"Z@/
MFQZK=(-L/ID_M+,_=N_+1\I*(@>VM5Q:BD8==#K?+FVW0EU``45+9!X<N=3/
M82(>/[MG1D#*$,&,JC5F&4[%R/D(X6#>`##QKBG/H\G>?='A?&6227;XLC/W
M25A]B'`@1,82$6ZS9@:,-<%H&TT-2??V[YM2]`VIM);<O>>XTMI@1@&Y":6J
M5($:TW=:M.*'IU=*ROF;!.94GD90"2HIT7'\'"RIYI\P]FW8Z,SDW_>2`?NX
M(SXNYMW^")YS:I'SKE&X8.1!Q#BX[N:[F1Z1"^I^)"6*SYV0FH6&!=8E8?OY
MRL:@JKBH5UTJFH/1F12)6IUIZ_Z<5\N9+PA<AJ3O_:XLILY;7I-)>?"W'7#X
M4!6>Q/#4@X&YEY?#.W40Y3*@UL4Q)RBK\;,%MXFWC41]W]IAVSVBR=G+?Z+\
MC;XIY'(7OCDS\49$LC:`%QW&1@1:^E@!4BL=ZW5W(OHO3-V/:_XA+`ME+CEV
MNMY[$9J2_LZHMG2B)^[N)>(>?2MU$-XMMN!)*P-/B;5!@0PY6]$G\M1V17`>
M)6L!,R@7$>O<`XNXN5-K5M^0<IY1NN1D1>USXV7E[=)ZDXFB<8F4X.FW0YEU
MA&1*?4,LJ,R8I$*2*"SBL:.J&Y;2'7HHNF>_/WR?'*G(&XJ<;:KJ&4&V?4;O
M[N49$-;+"W3QKQ-4Z$'TPK@3?_D6#!,XR<_&]!=0RMZA87T"*MB&(T\Y4+XF
MK9]RN2Y\"0;!QG=VWN0F-H\R)L3'Q)0/,V1E,")\96(*S8"9#2`$(AU(]]#T
M]0[77"]^F+NJ\W2HB^==KU)K&8)(7%H*F&[ZCD2HK"KPJYPZ\^5OK5ZBO#8S
MM[:*6$;<'3&A?NC`()5[$>HQ%QW$:7-["RCRUF;)[;-D;7FO[D?@[QRG=?\`
MRY1%?&]%0#'AXT4I9H\2*P549@\K#UWO(;C-!VMN7:+[G^+7,BUH#Z0;VGN!
MTO&&VAM#7+3[D=:=M&@A#64M352DYX<Z$]E)]PQ,\%L^/_6$W,J6'B?N061O
MGV]I\:N0<6Y+Q0K+Q+,ER-D1%1-KR79XE4=?Q\J029&.0-!%*SP*%`0)<U9L
M-]Z0RAQYIR*M2<K8?2@.M+.,H6IM2V5E/$<R%*2>T'&M(W;X5TG$FEFC[I59
M7^#"Q'R/4$_-3:N>?Y#ES;E/M+JI&7)2[TLWY3WUEZ96$2-J7JAM;=<9PY4G
M[5JMMQ*)4"E*HH/#&1._;UEW3<<KC4WDBW#%D@6X^Z9%,N.1XW]4!1;4DVUO
M:N#?U$JVT\=VWW/QDD_+XANV-G-V7[GQ9&&-G(`-"K8LKF0VLJJ7T90186R'
MV;'<_4J8E9<#=_45R%D$)4S%VY7/-EI0PA;2_O"H$9SG4?W&-H-FVZ$FY,4K
M,/@QE9'!^!NFH\*D?M_,,_W`YCN*L'B&=@8\9%K!(MOAE`%NH,D[M<ZZVO8`
M"I.ID;_+^N_0S;"):W*_I\-T=7MP-->KD/Q*]W:6S_6*&_3])<^WG+P5@Y8[
M",D2?BSMMO!.1;Y#_&SO1VR!M.I<39/;X'R(@;3RZ6L348]P8_\`=/O#P[B<
M4C#`VQ\K?)U%B.W'4X^+W:%@!-(UM1W'36UJZ,H-Q4VXJQJTIK>#9P'5.I1*
MAR&9#.6E%#B%+:44I6TI.%`X*?:-0#+C;$R?QIU9)K`V8$$@]"+C4'P(T/A7
M;-AY)L_*,!=RV:>&?'+M&?3<-:1&*NA`U5U8$,C`,IT(J(;GZI[:I+!&WJZ>
MC<F[UAPM;0VZIFSOW"A*59DQVW0S4QTH5S*>EK8;`&>8ZV^'L.9D1+EY2MC[
M>_VS2`I&UM2%8CSGIHMSK4)Y+[L\3V3<GX]@3G=>7(+';<`+DYO>?L$BJW9B
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M6MI[TWET?1-=?K-M5-#NG9S<ASU9%;M3<:YC`HUJ(YBQ2VE<\W'*SS_;K2#G
MESJ:<@@FSN/X/)I5MD332XT[VMZLT"H?5)'E[Y4;ND"@`,-`+UP3VIF3A7/]
M]]F<9G;C>!A8FY[8"S.,;"RC)"^$KL6=HL>>$M#WLQ6.8*I"@`7T_(C\KC:Y
M"`<<JAQY@5#(&$$*R1[!QU!G9`J^I]DA[1K;N/0@6U^6E?0L\9:$*WE$FBDZ
M"_[1_>*X8W5N>QZ/[WW1N#H=MV=U5A[BLU675#IGM0%U5);!ETG>M5:(9765
M\V6E($^!XGI?+SH'J``]GV?;?]U;-B;9SO*&U&",QX&9D*%7TPUUQGC`#O"=
M>V8_PB=?*37PWRKF^X>W_N'G;M_3SB/S$9<S/R+:<?RC'F$;"/-Q,Q%.-'DL
M_<,G'<2/D64W#H*N/II=;,ZJ"OWE)WE3[PL8X5R[?;68<?9L\I4EV*[MR9Z-
MM&N6'"I"GIK270$@H2G.3#N2XVX\<;^5MC28N.2!Z@\ZSWZ$3`&-T/W*$(%C
M<UU/VVS>'>Y.7B\\Y!O2;ORC''=#A2*F/'M4VJR+^#(%R!D)K$<B927[>Z/M
M!%="-*BM)+;;Z`&SQ!<YBE2B/ZE*4222?:=1)_68][@Z_*OI*18\9!)(%CB)
MN.BKJ?`:#4_`6N:]"EI3VNI&?R_VU:"DFPZU<"LPN!I30\V2`'T9)P!P[?=^
M>O7IN-;&A1E^X6H4ZA&>9Y`Y1S'/+P3G&>WLSKSVM\#K7@$&00C^*1<#QM]*
MU]O9IJZ^9.Y'Y9AQ9$O[2&R'YDA,=AQ\LQF`0IY]T(Y4('%2R`.W58XOR6]!
M'".Q`!TTU'A_\:QL[*.!AS9?IR2>C#))VJ"2>Q&>PL.I[>T#Q)`K3(WKMENB
MAW]A?U=37SH#5@T];6$&O"&'F4O)]14IUE"%(2K"L]AX'6=)M.XC-;;HH97R
MPY0!49CW7MT`)O?PJ*P>X7#AL&-R3.W/`Q]MR<=9U,N1#&`CKWA;NZZJ-#XW
M!!JM97\B>F/K+BT>X']X34J2RU`V34V>[)+[[Q0AAH/4T*1`0M2G`?$\E(!R
M2!QUO7X)RF*2,9D<&%$02QS'&."!;5>]@3;Q`4G45`)_ZB?;.7(&#L61-O.X
MRW$<.V12YDC$=1W1*88^HL9)`IUUT-9&][=5[U*$;<Z92J9DGE-KU`N:ZJ0.
M;AZR*2C1<VCZ$=H0I4<J]J@.(QVVKCV('DGW03Y":>A!!*03?6V1*(T[1U!5
M7N`/C>KG^\?=[>2F+Q3C"8<,@\V5O64D7H^/_B82S22$#3[X[MKH*W:]G;GO
MDNHW;O:U7$EQ41)-1M>"SMN$A:RI+CK,]/W]^2$N8S]T@<,X'#%AMVP<,+_+
ML4#(#W#L6D/@1H>U!:U^A!Z"YK<GA')M^5O]Z[]D3;6\0CDPL/&3$@9S<,ZS
M#U,WL;N[;>LE@MS;4T_9_138&R(E;`IZU^3#JZ4T3+-U*5=&1%4X7''[!ZP2
M](L9K@/(7'EKPC(`&3F]O'+-[WS,FS\V11DS2=[&-1&+@6LH4#M7_*MA?6U6
MN(>Q_MMPG#QL'9]O5H<6!H4]<^L61S=C+WBTKZD!Y`S!20#J;V:*^`(/[6(4
M05GVI@_MPC,B#]D6BP8?VG)]O]J63R%OEY.7AC&H]ZLGJ>MW-ZM[]US>][WO
MUO?6_6]=/&WX`P?Y6((1MGI>EZ/8OI>F5[3'Z=NSL[?+V6[>W2UJH:T8LX/6
MRIO[J'N673R]N(V?M04\$6NW:RPEJ<OKV[W&N,V)>WI+PJ$0FI*U?;.MN):5
MXUH&M\9E?CLN%"R+:<2RW^Z1%\JQJ#HQN_?;J.VXZ&N6S-NN![O-G[AC9$NP
M9&W1XF`\:^I%&SEY<II%&L+L4B1);=/+I?6]X3OW,6)(0WRM/QV7DAQMUEX(
M<:0M'.P\VAUES"O$A8"DG@>.M"ZE'*L;L#:_Q/QKK4!5H@0C1IVCM5ON46Z,
M/`CH1KK7K(]R4^SM^/LUXJY2X'N'_7Z:4JN]\=.J_>PK'G[*]HK6DFORZB\V
MQ9+J;>");"XTMA+X#S,B-*:6/4:>;<:4M"%<O,A)&SVS=<S:B_X_HR)(/,DR
M>I$UC=>].Y20NM@&4Z]?"N?<[]M>/>X$>')NDFX8FZ;;-)-BY6#DOBY,3R+V
M2*LJ@WCF722-U96L#H0",FSNF^V]DF>[2QG?O[5Y+]O=64F7;7]P^E/A=L[F
MPE29DE*%$^FT"EAD$AM"!JYNF_;KO-ES9/(BVC1%5(H@=2(HU`"@DWU))/5C
M61PWVYX?P19YN.XACW7*M^1E2R//DY)`T;(GD+22$?X06LI^T`:5++FEK+^N
MD5%O!AV59,069L"?%9F0Y;"DE*F9$9Y*FG6U9S@@\1K5)+DPD28LKQ9`M9T-
MF4_$'P)Z?0FI9N.V;7O.#+MF\XV/F;=,A5XIXUEC8?YD<%6_45CJ:*NHJ^+5
M4\.%6UT)/)$@P8;,2'&:"^<-1X\?TVF4YSGE'$G)R<YN3Y&1E2M/D.S2L1J=
M3\[DWO?^SPK'VC9=LV'#BV[:((,;;H00D44:1QI?PC1`$11\`MSU+$W)VX&>
MU('N]O\`MJUIX5M=:7`]P_Z_35*48'N'<-*48'N'<-*5%-][8A[SV5NS:,Y"
M50]S[=N**0%`X2BT@/P_4\(*@6B]S`CB",CCK9;-N<VR[OB[OCV,V+D1R@$V
M!]-PUKCXVM4<YAL,/*N)[GQG(`,.X8$^,=+V]:)HP;7'VEK]1TZUS=_';J)#
MK^BLW<V^[.%76&UI+U+NMR00TIN1M5F-M=I]EI33<R9^]NUGJQ2H*=D*?2E.
M<I&IQ[@[>N9S%8./*\NV9<:SP#M((&0SS,H&NJ,Q5QT%K^-?._\`3]OTG%O:
MK<-R]P7AQMZV?+?%S6#AV<8$4>+#(392TD\<:F,,2SLP4$Z5-.B-+97AO>L=
M_#>K[SJ@N)*KJV46W']M[!K$O(V91^`(2B3)BRG+"8D<_+*F*05'T]:;F.9"
MJ8O%MID*[;ME_4(&F3DO8SR$'HH-HP-#9.M3?V:V#<<R7<_=CDT#8_)^2M$4
MA>Y.+M>.&&WXEK@+*$=ILAENLDD@OJE2&[Z`=+=P6,BVL=IU8LI1+LF;7*LZ
M21)D**E+D2ET=G7?=+<4K*O4YN?_`+LZ\8O.N58&&N#@9LT6.GVJ>R15^0$B
M-8?(5MMZ]A/:'?\`<YMZW/9,:3=9SW/)=T+O_P!;F%HB[$_<2?-XU,=K]/=J
M[,0IK;%)34;+OBDHJZJ)"7,D#F`E3)#*0_+D`+(YW5+41VG6@R]UW7<I7R=V
MR\O+R7MK+*650/!([!$'R4#PJ=[%P_BG&<!,+8-MPL$(Q93CQ+$.XV#,57[F
M:PNSEF-M2:FB4!*0G@<`#)`R<>W6O7N`\QNWQJ1ZGKJ:8XI+25N++2&D(*EK
M<4$!``)*E*(Y4I`':3JA]0M90"I_;>A*A2S&UM?E8>)KYZ]/.L$2ZZ^=;MU4
MM58[HGV,W;72[8=7"/VD:74;)@29EU?.VDD"%'JINXK.1Z;J0Z5ML90#D`]Z
MW?B\V+[=;)LNY318[XZ39^6Y!;L?*94BC`%^^411J76X*L_:=!>O@GCWNW%D
M^_\`RK>..;;F;EN.6F'M.VHC1Q8\F/A+++D939+FT<;S3`1A4<LB,U@=*Z,B
M;(ZA[XDRI/4;<;%32*<286QMDFPB02UDA8W+NB3]O:;BR,'THZ83.<CQ`ZYP
MF][)M$7=QC')SC?_`%64JM)<:>3'-TA%^ERY(LVA-AWB/V_YKS7(DR?<3<XS
ML'>`FU8"RPXI!`)_,RW=,O/[3<]J#%AN2EG4!C;VW-I4>U*V/4;?K:^HKHK2
M&VH=;#;B1P4CQNJ2A2ENNN*&5+6I:R1Q).28OE9N9G9+YF;+)+E2:LSL221T
ML+V50"1VJ`-?E77>-\4XWQ':(=DXW@86!ML*D+%C0K#$.XW/;&O0DZW)9KDD
MDFJ]WKT$Z9[[G-V]UMV/%OFB%-;FH')6WMS(=21RO"^HY$"S6X`,>-Q8Y<C&
M#K=[#R_D?&\>3`VK*:/:I6[G@[5:)V)NQ9'#J>X]=`?G4-Y;[)^UW-LE=SW[
M:<?_`'"HLN=!WXV<H&BVR8660]MAI(77_**BDOHQO&#RHVGU_P"IU*&FUH1&
MNH>WMYQU^)*XZ%+O:A4Q88`Y4_WN92>TE7'6W3F&U9*D[QL&S9$Y;[T&3C$+
M\+0Y"K?_`#6M>WEMI4)3V/Y;L['_`&CS_E>,#T7,;$W)%OH%_?XZMVCI;ON!
MX^->2-M+^3<1']CJKT_OD*PE*]P=,IL"8E`"B''17;I9CEY2N!`0$@>S.JY>
M=[:Y<G>-DR(#_P#KSBP/R\V.6M]37J/@_P#4=MP]*+F6QYOA?*VIC;YKZ&0H
MN?&XM:LZ=K_R:EY;F=1NF56"I/IOU?3>QF+;3A/J)<$[>*.9/A/*4<O]7$:L
M19'MQ!=QM&5*1X-FD`_LQ_[[]*]KP[^HS*D49O+>-XV.O5\;9Y6FM\$];*[0
M?G<:7TKTGI3UCMD<MY_(2XA(*U!QO9^P]K4*W(Q!Y&DRK-6XY+2TDY*@02?8
M!PU[_G_#,:4-A<;PVCMTR,C*E/=\1Z;XXM;P*GZU>?VO]U=S4Q;U[@;HN*>J
MX>!@XK'Y^HPR'!\.HKQ3OX[TTF$\YNKJ;UGW2B.V\N3^X;]M*F&M@,N%[U(N
MW44<=Q`:*N'%`)S@8&,B/G^>D@_E^W;-C2W':8L1`][BP[Y#*UKV)\3;K6FS
M/Z:N,Y4?=R7D?.=UPEN[13[[E10GM4M=TQ!C!E&H],^1KV8$=(-_'/\`CWTM
M3TJV->S]F4EM=S:EU]VPW(PYN>:67K&2Y%:=<NY$T,N-Q$-)6VCE0E:,8X:D
M'N3S_F,_+-PP(]PGCVOU`#%"1#&?W:AS:,!M3W$$L>M_E42_I]]@_:5?;3:.
M23\=V>?D65CNSSY.,<ERAFD](=F1+*L;+%V*P7_$#XUUW!HJZN8;B08L6#`9
M:++,"!&:@Q6D%(24M,Q@VAM.$@82$C`UR(2SF1Y))))'<C5W+D6OT+:^/B3\
MK5]=;;M^V[/CQXVU8V/CQ1"RK'&J(GQ]-%':@.EP!K8?"MLAM"$I0E("4)"4
MCMPE(``R<DX`UX^M9;,68LWW$W-*,$\$C'O[,'\L9TJE.TI1I2L'I,*/%"%$
M]N4).<#VY3QP->N]QXG]M55F2W82+=+:6^GPK,E(2`E("4I`2E*0```,``#@
M`!KS0DDW.I-+I5*-*4:4HTI1I2C2E&E*-*4:4HTI1I2H7>[0J;V=73+"(F6W
M5RA8L0"$-1)%HWSIC3K!M(2FP5$2ZI3;;W.TES#G+SI21GX^ZYF#"Z8A/JR6
M4M?54/4*>JCI?MU(%A42WWA>Q\DS,6?=XDEQL2<3I$5'8<D7"3RJ-)3$"61)
M.Y>^S6[@")<WA+;:?Z.5"$\B0D)3A('*`E(3@=G#AK"8W8F][FI6J"-1&#<*
M+7M:]M+V\/IX4_F'F/=_ZZ\UZIBEH3C*E8/M]@X@<?SSJE_.$U[C?^RJ@$Z#
MK\*B6Z;N;7UCBJ:`Y;6#JRW&C*6IF*"A:29$R4D*6S#;`.>1*UK[$I4>&L_'
MPS-*(Y)1`AZOV]_:+7([?$L/*/@2"=!44Y/O>[[9C1CC>-'F;W.A]&-V*0=/
MXF1*`?3B1;LQ`+66R@M:N,>OE1O#>T>MZ43+EB^Z@=37&V(VWJ$2:?:73O9T
M=UC]^W]>NL2W;>U>KFN9NO\`7?9;D3'4I0WE)QUC@&7L.U-/RU\<XO&-K[?5
MFG`.3N.82?QL#']4&!%D.L_:C,L=CW"]?'OO-LW.N1OC>W>5N\>Y>Y/(&7TL
M;;_7Q]MV;!4I^5GSLD@RYRJAAC23-&)9"4$=EUZZZ9]--G]*MI46S=HT\2MJ
MMOP$08KB6&3.DJ!*Y,Z=+"/6E3I\EQ;SSBU*4MQ9)US+?N1[ORC=LG?-W9AE
MY4I=HPW[M=3VJBCRJJC0*HL!I7UYPS@^P\&X_A<=V>*,P8,"QI*5'JOIYWD>
MUR[G5C?7QJPRM(!)4<`$GA[!^FM-4O)`!)Z`4T*0L?U*((!X\0?;[CJ@(-`>
MY0XZ$7%.RGSJ[S\M5JM.[?:KN_\`72E+C\3\/EI2ETI2$@8R<?[_``TI5;=4
MK=R'L>Y8A+0+._9_QFF9?0@H?M+]"J^*VI#A'J-H]<N+`[&T*/8#K>\8QDR]
M]QA,/]'&QFE)\(H1WM]2;!0/&]<R]WN0Y/'^!;A_+03OF6OX6*!H3DY7[J,@
M^';W%RW10I)Z5)]H4$':VV*+;=;%:AP**KAU45AH)"0S!81'2X>4#F<>]/G6
MH^)2E$G)).M?N6;)N6X3[A*299Y6<_5B3;]+V`\`+5,.+;#C\6XSM_',:WI8
M6%##]3'&JL3\2S`DMU8DL=34CUA5O:-*5C!2.Q1_+CC_`$TI3P0>S2E+I2D'
M-[>7'X9TI2Z4HTI1I2D*@"`2`3V`D`G';@>W&=*4G.C/+S)YL9QS#./?C.<:
M#4=P^WXU6QZ^%.TJE(5)':0,G`R0,GW?GI2ETI1I2D)`[=5M5+]?E2ZI5:-*
M4AYO9RX_'.E*3Q_3\=*4>/Z?CI2H;OZ7N2OVEN*?M*-&G;HB4-R]MZ#,3(7"
MEW;=>\Y5LS416GI2XJYB$!P-)+A1S!(*B-9^V'$.X019U_PGFC5R-"%+J">[
MHHL3<G0=>@-1KETV]8?'<W.XS$N1R:+"G.)"YM'+D>F3&'/P!%P+CN/E\15.
M(Z@[J--1;>V5MB\W9O!==%1:W-U76U!LVNLE0`N9*N;>S@1I*X[,LJ*(T=ER
M0L@(\)R=2@;#@-D2YW),R+!V42-V)"R3SRQAP%$82X5F72[%0.I)KB6'[F[U
M-LV-QGVZVC==XY1/"@?,S<=\/;,68K>5\N6<+*?3;N/X^-&[.P6,,%;NJ9]+
MNF:=IF[W'?SAN3J)NM]I[=N[7HR(RY:8Z285)4QL*76[:I4N%N+&YCQYG%96
MHG6LY-R0\@]+:L;'_%XKM]UPX.[O6S`%IWZ$Y$A-I';7R@+90*G/ME[8#A/Y
M?(=\RWW3W%W<JV?N+1+`9>PGTX8(@6]#$AN1%%<D@EG))TN+Q_3\=1NNLUAD
M-N2(TEAN0J,ZZRZRW)92TXY&<<;4E+R&Y"'6%N-%04$K2I)(X@CAKTC*KAB`
MP!%Q\?EIKK\M:MRH)HGB#6)4BXL2+CK8W%QUU!'Q%J9#C.16&6G93LMQMAEI
MR0ZVPVY(<:0$+?6B.TRRA;RAS$(2E`)\(`X:K(_>Y8`!2=!KI\KG4_K5K$QW
MQL:.!Y&E=(T4N0`6*BQ8A0%!;J0H"CP`%9^5P*2?5RD<W,DH&3G^GE4"GEY?
MR.1JT@*I9R6:YUT'Z6`\/T/QO5XA[BQ';<WN-2+:`&X`L==0;]-.M9->J]T:
M4IJEH3@*4E))P.90&3[AD\3JH!/050D*+L0!1XO9RX_75*K5,OF1O'J!$B*\
M%3L9K]TC!\--)N-QRP(:Y4;PN/+B[;@R5H*@D)7)?Y`O*%<LA0G`V)LB%@N5
MG$QDBY,<`\U[$6]25@H[3]B!B1<@'C.YPY?+/<;%VC)0IMG'2,Q2Q"C-RW)B
MN%U<0X*.Q^WMR)I$`8",M5RMHY$!)45$9RH]IR<^S4<5%2_;T+$_J3<UV500
MH#&Y^-/UZJM&E*:>;/#EQ^.<Z4IVE*-*5C"0>U)'ZG2E/`P`.W`QD_\`&!I2
METI1I2D*4JP5)!Y3E.0#RG!&1GL.#I2F>DUS^KZ;?J\H1ZG(GGY`20GGQS<H
M)/#LXZ#0=H^WX56Y`MX5DTZ52D*4GM`[<]FE*,#W#N&E*,#W#N&E*,#W#NTI
M2Z4HTI3%=O\`23P[>/\`MI2F\/(>\Z4HX>0]YTI1_P"![SI2ES]!X?B?;^FE
M+FD_\#WG2E'#R'O.E*>D`#@,9XG\S[_QTJ@`'3QIVE5HTI1I2C2E,4VA12I2
M$*4@Y0I202@G@2DD92<>[2O#1QNP9U4LO0D`D?3X?I6)"2G/,GFR0>',/9QX
M>S)UZ9NZO2CM0+II?I\S^T_K3F6D-(0$I2E7(D*('$\!GCQ.,Z,Y;4FXJW'#
M%&+QKVZ`?$@#H+]3:UJS:\U=HTI1I2C2E&E*-*4U([>)/Y@C_72E.TI1I2C2
ME&E*-*4:4HTI1I2C2E&E*-*4P@Y/B5^@/^VE*3!\RNY6E*,'S*[E:4HP?,KN
M5I2C!\RNY6E*,'S*[E:4HP?,KN5I2E`.1XE=ON5I2GZ4HTI1I2C2E&E*-*5C
GP?,KN5I2GIQRIQV8&/RQPT^G2JF]]>M+I5*-*4:4HTI1I2C2E?_9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
