Document:

Third  Amendment to Unit Option Agreement

 Exhibit 10.35 

THIRD AMENDMENT TO UNIT OPTION AGREEMENT 

THIS THIRD AMENDMENT TO UNIT OPTION AGREEMENT (this “Amendment”) is made and entered into effective as of
December 30, 2013, by and between ODYSSEY MARINE ENTERPRISES, LTD., a Bahamas domestic limited company (the “Seller”), and MAKO RESOURCES, LLC, a Delaware limited liability company (the “Holder”).

 Background Information: 

All capitalized terms used but not otherwise defined in this Amendment shall have the respective meanings ascribed to such terms in the Unit
Option Agreement dated February 21, 2013 (as amended on May 13, 2013 and May 28, 2013, the “Agreement”), that was issued by the Seller to Mako Resources, LLC, a Delaware limited liability company
(“Mako”). The Option was initially exercisable to purchase up to ten million (10,000,000) Option Units but has been previously exercised to purchase eight million (8,000,000) Option Units. As a result of the previous
exercises, the Option is, as of the date of this Amendment, exercisable to purchase up to two million (2,000,000) Option Units, on the terms and subject to the conditions set forth therein. The Seller and the Holder have agreed to enter into
this Amendment to reduce to writing their mutual understandings and agreements with respect to the modification of the terms of the Option, on the terms and subject to the conditions set forth in this Amendment. 

Operative Terms: 
 NOW,
THEREFORE, in consideration of the premises and the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Seller and the Holder hereby agree as follows:

 A. Section 2 of the Agreement is hereby amended and restated to read in its entirety as follows: 

“2. Exercise of Option. Subject to the other obligations and limitations set forth in this Agreement, the Option
may be exercised by the Holder for all or any part of the Option Units at any time and from time to time after the date of this Agreement and through and until 5:00 pm, Eastern Standard time, on December 31, 2013 (as subject to adjustment in
accordance with Section 2.b. below, the “Expiration Date”). Notwithstanding the foregoing: 
 a.
Mandatory Early Exercise. The Holder shall exercise the Option to purchase at least one million (1,000,000) Option Units (the “Minimum Exercise Amount”) for which the Option is exercisable at any time and from
time to time after the date of this Agreement and through and until 5:00 pm, Eastern Standard time, on December 31, 2013. In connection with any exercise of the Option pursuant to this Section 2, the Holder shall deliver payment of the
aggregate Exercise Price in cash by wire transfer or other immediately available funds to an account previously designated by the Seller, it being understood and agreed that any Cashless Exercise shall be deemed not to satisfy the Holder’s
obligations under this Section 2 in whole or in part. The aggregate Exercise Price shall be delivered to the Seller as soon as reasonably practicable, but no more than two business days after, the date of the Option Closing. The number of
Option Units, if any, that may be purchased by the Holder after the Holder has fulfilled his obligations pursuant to this Section 2.a. is hereinafter referred to as the “Remaining Amount,” and such Options Units are
hereinafter referred to as the “Remaining Units.” 

 b. Extension of Expiration Date. If, and only if, the Holder has satisfied
the Holder’s obligation to purchase at least the Minimum Exercise Amount pursuant to Section 2.a., then the term “Expiration Date,” as used in this Agreement with respect to the Remaining Units, means the earlier of
(i) December 31, 2014, and (b) sixty (60) days after the date on which the Holder has been given written notice by the Seller that Exploraciones Oceanicas, S. de R.L. de C.V. (“ExO”) has received governmental
authorizations, licenses, and permits which are necessary to enable ExO to commence commercial mining operations in the Don Diego phosphate deposit (the “Approval Date”). 

c. Grant of Proxy Rights. The Holder hereby nominates, constitutes, and appoints the executive officers of Odyssey
Marine Exploration, Inc. (“OMEX”) and the individuals who hold such offices from time to time, and each of them, as the Holder’s true and lawful attorneys-in-fact, to appear and act as the proxy for the Holder at any annual or
special meeting of the voting members of the Company, and at any and all adjournment or adjournments thereof, and to vote or execute consents, in accordance with his or their best judgment, all of the Remaining Units, of which the Holder may be
entitled to vote. The Holder’s attorneys-in-fact may do all things with respect to the Remaining Units that the Holder could do if personally present, with full power of substitution and revocation. The proxy rights granted pursuant to this
Section 2.c. (i) shall be effective upon issuance of the Remaining Units and shall terminate for all purposes on the Proxy Termination Date (as defined below) and (ii) are coupled with an interest and therefore irrevocable. The Holder
hereby revokes all other proxies and powers of attorney with respect to the Option Units that it may have heretofore appointed or granted, and no subsequent proxy or power of attorney shall be granted. As used in this Agreement, the term Proxy
Termination Date means the earlier of (i) the third anniversary of the date or dates on which the Remaining Units are issued upon exercise of the Option, or (ii) as applicable, (A) the date on which a Change in Control (as defined in
Section 2.d.ii. below) of OMEX has occurred or (B) the six-month anniversary of the date on which a Change in Control of the Company has occurred. At the request of the Seller, any and all certificates representing any issued Remaining
Units shall bear a legend reasonably describing the voting rights granted pursuant to this Section 2.c. 
 d. As used in
this Agreement: 
  

	 	i.	“Beneficial Owner” has the meaning set forth in Rule 13d-3 under the Exchange Act. 

  

	 	ii.	“Change in Control” means, with respect to OMEX or the Company (as applicable, the “Covered Entity”), that: 

 

	 	(A)	any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Covered Entity (not including in the securities beneficially owned by such Person any securities acquired directly from the
Covered Entity) representing fifty percent (50.0%) or more of the combined voting power of the Covered Entity’s then outstanding securities, excluding any Person who becomes such a Beneficial Owner in connection with a transaction
described in clause (1) of paragraph (C) below; or 

  
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	 	(B)	the following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, on the date hereof, constitute the board of directors of the Covered Entity and any new
director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest), whose appointment or election by the board of directors was approved or recommended by a vote of at least two-thirds
(2/3) of the directors then still in office who either were directors on the date hereof or whose appointment, election or nomination for election was previously so approved or recommended; or 

 

	 	(C)	there is consummated a merger or consolidation of the Covered Entity with any other corporation, other than (1) a merger or consolidation which would result in the voting securities of the Covered Entity
outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any parent thereof) fifty percent (50.0%) or more of
the combined voting power of the securities of the Covered Entity or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation; or (2) a merger or consolidation effected to implement a
recapitalization of the Covered Entity (or similar transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Covered Entity (not including in the securities beneficially owned by such Person any
securities acquired directly from the Covered Entity) representing fifty percent (50.0%) or more of the combined voting power of the Covered Entity’s then outstanding securities; or 

 

	 	(D)	the stockholders (or other comparable holders) of the Covered Entity approve a plan of complete liquidation or dissolution of the Covered Entity or there is consummated an agreement for the sale or disposition of the
Covered Entity of all or substantially all of the Covered Entity’s assets, other than a sale or disposition by the Covered Entity of all or substantially all of the Covered Entity’s assets to an entity, at least fifty percent
(50.0%) of the combined voting power of the voting securities of which are owned by stockholders (or other comparable holders) of the Covered Entity in substantially the same proportions as their ownership of the Covered Entity immediately
prior to such date. 

  

	 	iii.	“Equity Securities” means any securities having the right to vote in the election of directors (or individuals holding a comparable person) of the Covered Entity, or any securities convertible into or
exercisable for any shares of the foregoing. 

  

	 	iv.	“Exchange Act” means Securities Exchange Act of 1934, as amended from time to time. 

  
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	 	v.	“Person” has the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof, except that such term shall not include (a) the Covered Entity
or any of its subsidiaries; (b) a trustee or other fiduciary holding securities under an employee benefit plan of the Covered Entity or any of its “affiliates” within the meaning set forth in Rule 12b-2 promulgated under
Section 12 of the Exchange Act; (c) an underwriter temporarily holding securities pursuant to an offering of such securities; or (d) a corporation owned, directly or indirectly, by the stockholders (or comparable equity holders) of
the Covered Entity in substantially the same proportions as their ownership of the Covered Entity.” 

 B.
Section 5 of the Agreement is hereby amended by adding the following immediately after Section 5.c.: 
 “d.
Monthly Increases. With respect to any Remaining Units, commencing on February 1, 2014, and continuing on the first day of each month thereafter, the Exercise Price shall increase by $0.08 per Option Unit (the “Monthly Adjustment
Amount”), with the Monthly Adjustment Amount being subject to further adjustment in accordance with the other provisions of this Agreement.” 

C. Section 7 of the Agreement is hereby amended and restated to read in its entirety as follows: 

“7. Mandatory Exercise Upon Certain Events. If (a) the Company determines to undertake, authorizes or
approves, or enters into any agreement contemplating or solicits partner approval for (i) a Fundamental Transaction or (ii) a Qualified Financing (as defined below) and (b) the Holder’s exercise of the Option is expressly
required by, or is a condition precedent to, the consummation of a Fundamental Transaction or a Qualified Financing, then the Seller shall deliver to the Holder a notice (a “Mandatory Exercise Notice”) describing the material terms
and conditions of such Fundamental Transaction or Qualified Financing, at least ten (10) Business Days prior to the applicable record or effective date on which a person would need to hold quotas in order to participate in or vote with respect
to such Fundamental Transaction or Qualified Financing, and the Holder shall thereafter exercise the Option for all the Option Units for which the Option can then be exercised and otherwise in accordance with the terms of this Agreement;
provided, however, that it is understood and agreed that (x) the Holder may condition any exercise of the Option pursuant to this Section 7 on the consummation of such Fundamental Transaction or Qualified Financing within sixty
(60) days of the Holder’s receipt of the Mandatory Exercise Notice, and (y) the Holder may elect to effect such exercise through a Cashless Exercise (in which case, in the event of a Qualified Financing, the formula in Section 3
hereof shall also apply to Qualified Financings, and “B” in Section 3 hereof shall be the implied value per quota of the Company in the Qualified Financing). As used in this Agreement, the term “Qualified Financing”
means a sale for cash of the Company’s quotas, or securities convertible into or exercisable for quotas (as applicable, “Company Equity Securities”) in a single transaction or series of related transactions where (x) the
implied valuation of the Company, without applying any discount for minority interest, lack of control, illiquidity, or other discount to any quotas in the Company, is not less than $5.00 (USD) per quota (subject to adjustments for quota splits,
reverse splits, or the like), and (y) the number of quotas issued, including on an as-converted or as-exercised basis, in the sale of Company Equity Securities represents, after giving effect to the transaction, not less than five percent
(5.0%) of the Company’s issued and outstanding quotas on an as-converted or as-exercised basis.” 

  
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 D. To the extent that any term or provision of this Amendment is or may be inconsistent
with any term or provision in the Agreement, the terms and provisions of this Amendment shall control. Except as amended hereby, the terms and provisions of the Agreement remain unchanged, are and shall remain in full force and effect unless and
until modified or amended in writing in accordance with their terms, and are hereby ratified and confirmed. 
 E. This Agreement may
be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party. In the event that any
signature is delivered by facsimile transmission or by an e-mail which contains a portable document format (.pdf) file of an executed signature page, such signature page 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 signature page were an original thereof. 
 [Signature
page follows.] 

  
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 IN WITNESS WHEREOF, this Amendment has been executed by the Seller and the Holder as of
the date first set forth above. 
  

			
	SELLER:
	
	ODYSSEY MARINE ENTERPRISES, LTD.
		
	By:	 	 \s\ Greg Stemm

		
	Name:	 	 Greg Stemm

		
	Title:	 	 President

  

			
	HOLDER:
	
	MAKO RESOURCES, LLC
		
	By:	 	 \s\ Josh Adam

		
	Name:	 	 Josh Adam

		
	Title:	 	 Managing Principal – Hornet Management

  
 6EX-10.G

 Exhibit 10.G 
 RETIREMENT AND CONSULTING AGREEMENT 
 The parties to this Retirement and
Consulting Agreement (the “Agreement”) are Ampco-Pittsburgh Corporation (the “Corporation”) and Robert F. Schultz (the “Executive”). This Agreement is entered into and will become effective as of December 31, 2013
(the “Effective Date”). 
 The Executive has announced his decision to retire from the Corporation as Vice President
Industrial Relations and Senior Counsel effective December 31, 2013 (the “Retirement Date”). Following the Retirement Date, the Corporation wishes to retain the Executive for the purpose of providing, and the Executive has agreed to
provide, certain consulting services. This Agreement is intended to set forth the terms applicable to the Executive’s retirement from the Corporation and the consulting arrangement following the Retirement Date. 

NOW, THEREFORE, the parties, intending to be legally bound, agree as follows: 
 1. Resignation and Retirement. Effective on the Retirement Date, the Executive will resign from all positions with the Corporation and any subsidiaries of the Corporation then held by him,
including Vice President Industrial Relations and Senior Counsel of the Corporation, and the Executive’s employment with the Corporation will terminate due to his retirement. 
 2. Consulting Services. 
 (a) General. Beginning on January 1,
2014 and ending on December 31, 2015 (such period, subject to the extension and early termination provisions of Section 2(d) below, the “Consulting Period”), the Executive agrees to cooperate with the Corporation in the
transition of his duties following Executive’s retirement and to provide such consulting services to the Corporation (the “Consulting Services”) as may be requested by the Chief Executive Officer or Executive Vice President of the
Corporation and be agreed to by the Executive, which agreement may not be unreasonably withheld by Executive. The Executive agrees to provide up to one hundred (100) days of Consulting Services to the Corporation per annual period of the
Consulting Period under this Agreement. 
 (b) Independent Contractor Status and Performance of Consulting Services.
Nothing contained in this Agreement will be deemed to create an employment relationship between the Corporation and the Executive during the Consulting Period. In providing the Consulting Services, the Executive agrees and acknowledges that he is an
independent contractor and will not have authority to bind the Corporation with respect to any matter. In rendering Consulting Services under this Agreement, the Executive will be free to arrange his own time, pursuits and work schedule and to
determine the specific manner in which such services will be performed, without being required to observe any routine or requirement as to working hours. 
 (c) Non-exclusivity. The Corporation agrees and acknowledges that Executive may offer consulting services to other entities during the Consulting Period, subject to the confidentiality and
proprietary rights provisions of this Agreement. 
 (d) Extension or Early Termination of Consulting Period. This
Agreement and the applicable Consulting Period may be extended beyond the term described in Section 2(a) by 

 
mutual agreement of the parties. Notwithstanding any provisions to the contrary in this Agreement, this Agreement may be terminated prior to December 31, 2015 and the Consulting Period will
be deemed to have expired upon any of the following: 
 (i) The mutual written agreement of the parties providing
for such termination; 
 (ii) Immediately upon notice by the Corporation to the Executive of the Executive’s
breach of the covenants set forth in Sections 8 and 9 of this Agreement; and 
 (iii) Upon the death or permanent
disability (as determined in good faith by the Corporation) of the Executive. 
 3. Payments and Benefits. 

(a) In Connection With Executive’s Retirement. Upon the Executive’s retirement and termination from employment with the
Corporation, the Executive will be entitled to payment of all accrued, but unpaid 2013 salary, discretionary bonus, vacation or paid time-off and business expenses (to the extent properly accounted for) as of the Retirement Date. In addition, the
Executive will be entitled to all accrued and vested retirement benefits under any qualified or nonqualified plans or arrangements sponsored by the Corporation in accordance with the terms and provisions of such plans or arrangements; provided, the
Executive will not accrue additional service or benefits under such plans during the Consulting Period. Following the expiration of the Consulting Period, the Executive will be covered by the Corporation’s retiree life insurance coverage in
accordance with the terms of that arrangement. 
 (b) Bonus for 2013. The bonus, if any, will be paid when the applicable
bonus amounts are paid to eligible senior executives. Except as described in this Section 3(b), the Executive will not be entitled to any bonus or incentive compensation during the Consulting Period. 

(c) Automobile. The Executive will have the right to purchase the leased Corporation car, which is assigned to the Executive
immediately prior to the Retirement Date, at a price equal to the wholesale market value. This right will expire on August 31, 2014. 
 (d) In Connection With Consulting Services. In consideration for the Consulting Services to be provided by the Executive under this Agreement, the Corporation agrees to pay or provide the Executive
the following compensation or benefits during the Consulting Period: 
 (i) The amount of $11,267 per month
(collectively, the “Payments”); 
 (ii) The Corporation will arrange to provide the Executive at the
Corporation’s expense with benefits under the Corporation’s medical and dental insurance coverage (including the medical expense reimbursement plan), life insurance (with a death benefit equal to 125% of the annual Compensation for
Consulting Services as stated herein (or such other percentage as may be adopted by the Corporation for its active salaried employees during the Consultancy period) and the same travel accident insurance coverage applicable to Executive immediately
prior to the Retirement Date; 

  
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 (iii) The Corporation will continue to provide the Executive with service
for the Corporation devices (iPhone, iPad and Notebook) currently used by Executive as well as secretarial support services; 
 (iv) The Corporation will reimburse the Executive for all out-of-pocket expenses reasonably and necessarily incurred in the performance of the Consulting Services in accordance with the travel and
business expense reimbursement policies of the Corporation in effect from time to time; 
 (v) In addition to
reimbursement of business expenses under clause (iv) above, the Corporation will pay to or on behalf of the Executive parking expenses when visiting the Corporate office location; 

(vi) The Corporation will reimburse Executive the cost of his Law License fee and the cost of up to twelve (12) hours
CLE credit at local seminars for each calendar year that the Consulting Agreement is in effect; and 
 (vii) All
stock option awards granted to the Executive and outstanding on the Retirement Date will, notwithstanding the terms of such awards, continue to vest during the Consulting Period as if the Executive had continued to be employed with the Corporation.
At the end of the Consulting Period, the vested options will be exercisable for the remainder of the applicable option term by the Executive in accordance with the terms of the applicable Option Agreement. 

(e) Right to COBRA Continuation Coverage. The Corporation and the Executive agree and acknowledge that, for purposes of the rights
of the Executive and the Executive’s spouse or any other eligible dependents to continuation of medical and dental coverage under the Corporation’s group health plans in accordance with the Consolidated Omnibus Budget Reconciliation Act of
1985 (“COBRA”), no “qualifying event” (as defined under COBRA) shall be deemed to have occurred until the end of the Consulting Period. 
 (f) Compliance with Section 409A. Notwithstanding any provision of this Agreement to the contrary, to the extent that a payment or benefit provided hereunder is subject to Section 409A of
the Internal Revenue Code of 1986, as amended (the “Code”), and not excepted or otherwise excluded from Section 409A’s requirements, and payable on account of the Executive’s separation from service (as defined in
Section 409A and the related regulations), such payment shall be delayed for a period of six months after the Executive’s separation date if the Executive is a “specified employee” (as defined in Section 409A and the related
regulations) of the Corporation, as determined in accordance with the regulations issued under Section 409A of the Code and the procedures established by the Corporation. 
 4. Reasonable Efforts. The Executive will use reasonable efforts to perform the Consulting Services in a prompt, competent and diligent manner consistent with the Corporation’s standards.

 5. Proprietary Rights. The Executive agrees that all information, discoveries, inventions, improvements, strategies or overall
business plan concepts arising from or in connection with the Consulting Services under this Agreement will be the sole property of the Corporation and the Executive will cooperate with the Corporation’s reasonable requests for the transfer of
any such rights or interests from the Executive to the Corporation. 

  
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 6. Taxes. The Executive acknowledges that he will be solely responsible for and the Corporation will
have no liability with respect to any taxes (including penalties and interest) imposed by any Federal, state or local government on the Payments or any other benefits payable to or provided on behalf of the Executive for the Consulting Services
under Section 3(d) of this Agreement. 
 7. Insurance and Indemnification. The Corporation agrees to ensure and to indemnify and
hold harmless the Executive from any and all claims and causes of action arising out of the performance of the Consulting Services to the same extent that it ensures and indemnifies its officers and directors. 

8. Non-Disparagement. 
  

	 	(a)	At all times hereafter, Executive will not disparage or criticize, orally or in writing, the business, products, policies, decisions, directors, officers or employees
of the Corporation or any of its operating divisions, subsidiaries or affiliates to any person. 

  

	 	(b)	At all times hereafter, the Corporation and its officers, directors, employees and agents will not disparage or criticize, orally or in writing, Executive.

 9. Confidentiality. During the course of providing the Consulting Services, the Executive may obtain information that is
considered to be confidential and proprietary information of the Corporation. The Executive agrees to maintain as confidential all confidential information received or obtained as a result of the services provided. At no time shall such confidential
information be disclosed to any third party without the prior written consent of the Corporation. Notwithstanding the foregoing, the Executive will have no obligation under this Agreement to keep confidential any confidential information to the
extent that a disclosure of it is required by law or is consented to by the Corporation. 
 10. Executive’s Understanding. The
Executive acknowledges by signing this Agreement that the Executive has read and understands this document, that the Executive has conferred with or had opportunity to confer with the Executive’s attorney regarding the terms and meaning of this
Agreement, that the Executive has had sufficient time to consider the terms provided for in this Agreement, that no representations or inducements have been made to the Executive except as set forth in this Agreement, and that the Executive has
entered into this Agreement knowingly and voluntarily. 
 11. Miscellaneous. 

(a) Entire Agreement. This Agreement represents the entire and only understanding between the parties on the subject matter hereof
and supersedes any other agreements or understandings between them on such subject matter. 

  
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 (b) Binding Effect, Successors and Assigns. This Agreement shall be binding upon and
inure to the benefit of the heirs, executors, administrators, successors and assigns of the respective parties. Without the express written consent of the other party, neither the Corporation nor the Executive may assign any duties or right or
interest hereunder or right to receive any money hereunder and any such assignment shall be void; provided, however, that without the Executive‘s consent the Corporation may assign its rights and obligations hereunder in their entirety to any
successor to all or substantially all of its business, whether effected by merger or otherwise. 
 (c) Severability and
Amendment. In the event any provision of this Agreement shall be determined in any circumstances to be invalid or unenforceable, such determination shall not affect or impair any other provision of this Agreement or the enforcement of such
provision in other appropriate circumstances. This Agreement may be modified only by an instrument in writing executed by the parties hereto. 
 (d) Interpretative Matters; Counterparts. The headings of sections of this Agreement are for convenience of reference only and shall not affect its meaning or construction. The language used in
this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict construction will be applied against any party. This Agreement may be executed in multiple counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument. In making proof of this Agreement it shall not be necessary to produce or account for more than one such counterpart. 

(e) Governing Law and Conflicts. This Agreement is to be governed and construed according to the internal substantive laws of the
Commonwealth of Pennsylvania. 
 IN WITNESS WHEREOF, and intending to be legally bound, the parties have executed this Agreement as of the date
first written above. 
  

			
	AMPCO-PITTSBURGH CORPORATION
	
	 s/ Robert A. Paul

	By:	 	Robert A. Paul, Chairman
	
	EXECUTIVE
	
	 s/ Robert F. Schultz

	By:	 	Robert F. Schultz, Vice President
	Industrial Relations and Senior Counsel

  
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