Document:

Form of Voting Agreement

 Exhibit 10.5 

EXECUTION VERSION 

VOTING AGREEMENT 
  

 
 THIS VOTING
AGREEMENT (this “Agreement”), dated as of March 9, 2015, is made and entered into between the undersigned stockholder (“Stockholder”) of Odyssey Marine Exploration, Inc., a Nevada corporation
(the “Company”), and Penelope Mining LLC, a Delaware limited liability company (“Investor”). All capitalized terms used but not otherwise defined in this Agreement shall have the respective meanings
ascribed to such terms in the Purchase Agreement (as defined below). 
 Recitals: 

A. The Company, Investor, and Mineral del Norte, S.A. de C.V., a Mexican sociedad anonima, intend to enter into a Stock Purchase
Agreement (the “Purchase Agreement”), providing for, among other things, the purchase by Investor of up to 31,300,297 shares of Class AA Preferred Stock pursuant to the terms and conditions of the Purchase Agreement (the
“Investment”). 
 B. A condition to closing the Investment is the amendment of the Company’s existing
Articles of Incorporation to (i) effect a 1-for-6 reverse stock split, (ii) adjust the Company’s authorized capitalization, (iii) establish a classified board of directors, and (iv) reflect such other amendments as may be
necessary to consummate the Investment (the “Charter Amendments”). 
 C. In order to induce Investor to enter
into the Purchase Agreement and consummate the Investment, Stockholder is willing to make certain representations, warranties, covenants, and agreements with respect to the shares of Common Stock beneficially owned by Stockholder as described on the
signature page hereto (the “Shares”). 
 NOW, THEREFORE, in consideration of the premises and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 

Section 1. Representations of Stockholder. Stockholder represents and warrants to Investor that: 

(a) Stockholder owns beneficially (as such term is defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), all of the Shares free and clear of all liens and encumbrances, and except pursuant to this Agreement, there are no options, warrants or other rights, agreements, arrangements or commitments of any character
to which Stockholder is a party relating to the pledge, disposition or voting of any of the Shares. 
 (b) Stockholder does not beneficially
own any shares of Common Stock other than (i) the Shares and (ii) any options, warrants or other rights to acquire any additional shares of Common Stock or any security exercisable for or convertible into shares of Common Stock, set forth
on the signature page of this Agreement (“Options”). 
 (c) Stockholder has full power and authority and legal
capacity to enter into, execute and deliver this Agreement and to perform fully Stockholder’s obligations hereunder (including the proxy described in Section 2(a) below). This Agreement has been duly and validly executed and delivered by
Stockholder and constitutes the legal, valid and binding obligation of Stockholder, enforceable against Stockholder in accordance with its terms. 

 Section 2. Agreement to Vote Shares; Irrevocable Proxy. 

(a) Stockholder agrees during the term of this Agreement to vote the Shares (whether at a meeting of stockholders or via written consent in
lieu thereof), and to cause any holder of record of Shares to vote such Shares (whether at a meeting of stockholders or via written consent in lieu thereof): (i) in favor of the Investment, the Purchase Agreement, the Charter Amendments, any
other Transaction Documents and such other reasonable and related matters put before the Company’s stockholders; and (ii) against (1) any Alternative Proposal, (2) any action, proposal, transaction or agreement which could
reasonably be expected to result in a breach of any covenant, representation or warranty or any other obligation or agreement of the Company under the Purchase Agreement or any other Transaction Document or of Stockholder under this Agreement and
(3) any action, proposal, transaction or agreement that could reasonably be expected to adversely affect the timely consummation of the Investment or the fulfilment of Investor’s or the Company’s conditions under the Purchase
Agreement or any other Transaction Document or change in any manner the voting rights of any class of shares of the Company. 
 (b)
Stockholder hereby appoints Investor and any designee of Investor, and each of them individually, as its proxies and attorneys-in-fact, with full power of substitution and resubstitution, to vote or act by written consent during the term of this
Agreement with respect to the Shares in accordance with Section 2(a). This proxy and power of attorney is given to secure the performance of the duties of Stockholder under this Agreement. Stockholder shall take such further action or execute
such other instruments as may be necessary to effectuate the intent of this proxy. This proxy and power of attorney granted by Stockholder shall be irrevocable during the term of this Agreement, shall be deemed to be coupled with an interest
sufficient in law to support an irrevocable proxy and shall revoke any and all prior proxies granted by Stockholder with respect to the Shares. The power of attorney granted by Stockholder herein is a durable power of attorney and shall survive the
dissolution, bankruptcy, death or incapacity of Stockholder. The proxy and power of attorney granted hereunder shall terminate upon the termination of this Agreement. 

Section 3. No Voting Trusts or Other Arrangement. Stockholder will not, and will not permit any entity under Stockholder’s
control to, deposit any of the Shares in a voting trust, grant any proxies with respect to the Shares or subject any of the Shares to any arrangement with respect to the voting of the Shares other than agreements entered into with Investor. 

Section 4. Transfer and Encumbrance. Stockholder will not, directly or indirectly, transfer, sell, offer, exchange, assign, pledge
or otherwise dispose of or encumber (“Transfer”) any of the Shares or enter into any contract, option or other agreement with respect to, or consent to, a Transfer of, any of the Shares or Stockholder’s voting or
economic interest therein without Investor’s prior written consent. Any attempted Transfer of Shares or any interest therein in violation of this Section 4 shall be null and void. 

Section 5. Additional Shares. All shares of Common Stock that Stockholder purchases, acquires the right to vote or otherwise
acquires beneficial ownership (as defined in Rule 13d-3 under the Exchange Act) of after the execution of this Agreement shall be subject to the terms of this Agreement and shall constitute Shares for all purposes of this Agreement. Upon any such
acquisition, the definition of Shares shall be deemed to include such Common Stock, and stockholder shall notify investor in writing of such acquisition. 

Section 6. Waiver of Appraisal and Dissenters’ Rights. Stockholder hereby waives, and agrees not to assert or perfect, any
rights of appraisal or rights to dissent in connection with the Investment and/or related transactions that Stockholder may have by virtue of ownership of the Shares. 

  
 2 

 Section 7. Termination. This Agreement shall terminate upon the earliest to occur of
(a) the Initial Closing and (b) the date on which the Purchase Agreement is terminated in accordance with its terms. 

Section 8. Specific Performance. Each party hereto acknowledges that it will be impossible to measure in money the damage to the
other party if a party hereto fails to comply with any of the obligations imposed by this Agreement, that every such obligation is material and that, in the event of any such failure, the other party will not have an adequate remedy at law or
damages. Accordingly, each party hereto agrees that injunctive relief or other equitable remedy, in addition to remedies at law or damages, is the appropriate remedy for any such failure and will not oppose the seeking of such relief on the basis
that the other party has an adequate remedy at law. Each party hereto agrees that it will not seek, and agrees to waive any requirement for, the securing or posting of a bond in connection with the other party’s seeking or obtaining such
equitable relief. 
 Section 9. Entire Agreement. This Agreement supersedes all prior agreements, written or oral, between the
parties hereto with respect to the subject matter hereof and contains the entire agreement between the parties with respect to the subject matter hereof. This Agreement may not be amended or supplemented, and no provisions hereof may be modified or
waived, except by an instrument in writing signed by both of the parties hereto. No waiver of any provisions hereof by either party shall be deemed a waiver of any other provisions hereof by such party, nor shall any such waiver be deemed a
continuing waiver of any provision hereof by such party. 
 Section 10. Notices. All notices, requests, claims, demands,
and other communications hereunder shall be in writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt), (b) when received by the addressee if sent by a nationally recognized
overnight courier (receipt requested), (c) on the date sent by facsimile or e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal
business hours of the recipient, or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the following addresses
(or at such other address for a party as shall be specified in a notice given in accordance with this Section 10): 
  

			
	If to Investor, to:		Penelope Mining LLC
			c/o: Minera del Norte S.A. de C.V.
			Campos Eliseos No. 29
			Col. Rincon del Bosque
			11580 Mexico D.F.
			Mexico
			Attention: General Counsel
			Facsimile: 52 866 633-8050
		
	with a copy to:		Willkie Farr & Gallagher LLP
			787 Seventh Avenue
			New York, NY 10019
			Attention: Maurice M. Lefkort
			Facsimile: (212) 728-8111
		
	If to Stockholder:		c/o Odyssey Marine Exploration, Inc.
			5215 W. Laurel Street
			Suite 210
			Tampa, FL 32207
			Attention: Corporate Secretary

  
 3 

 Section 11. Miscellaneous. 

(a) This Agreement and any dispute, controversy or proceeding arising out of or relating to this Agreement or the subject matter hereof or the
relationship among the parties hereto or thereto in connection herewith or therewith (in each case whether in contract, tort, common or statutory law, equity or otherwise) shall be governed by the substantive laws of the State of New York without
regard to conflict of law principles thereof or of any other jurisdiction that would cause the application of laws of any jurisdiction other than those of the State of New York. 

(b) Any dispute, controversy, proceeding or claim arising out of or relating to: (i) this Agreement or the subject matter hereof,
(ii) the breach, termination, enforcement, interpretation or validity of this Agreement, or (iii) the relationship among the parties hereto, in each case, whether in contract, tort, common or statutory law, equity or otherwise, shall be
brought exclusively in either (x) the United States District Court for the Southern District of New York, to the extent that such court has subject matter jurisdiction, or (y) the Commercial Division of the Supreme Court of the State of
New York in the County of New York (or if such court lacks subject matter jurisdiction, in the courts of the State of New York in the County of New York) (the “Designated Court”). Each of the parties hereto hereby irrevocably
submits with regard to any such action or proceeding for itself and in respect of its property, generally and unconditionally, to the personal jurisdiction of the Designated Court and agrees that it will not bring any action whether in tort,
contract, common or statutory law, equity or otherwise arising out of or relating to this Agreement or the subject matter hereof in any court other than the Designated Court. Each of the parties hereto hereby irrevocably waives, and agrees not to
assert as a defense, counterclaim or otherwise, in any action or proceeding with respect to this Agreement, (a) any claim that it is not personally subject to the jurisdiction of the Designated Court, (b) any claim that it or its property
is exempt or immune from jurisdiction of the Designated Court or from any legal process commenced in such Designated Court (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of
judgment or otherwise), and (c) to the fullest extent permitted by applicable law, any claim that (i) the suit, action or proceeding in such Designated Court is brought in an inconvenient forum, (ii) the venue of such suit, action or
proceeding is improper, or (iii) this Agreement or the subject matter hereof, may not be enforced in or by such Designated Court. 

(c) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY DISPUTE IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT KNOWINGLY,
VOLUNTARILY, INTENTIONALLY, IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY DISPUTE. 

(d) If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or
unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be
consummated as originally contemplated to the greatest extent possible. 
 (e) This Agreement may be executed in one or more counterparts,
each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument. 
 (f) Each party
hereto shall execute and deliver such additional documents as may be necessary or desirable to effect the transactions contemplated by this Agreement. 

  
 4 

 (g) All Section headings herein are for convenience of reference only and are not part of
this Agreement, and no construction or reference shall be derived therefrom. 
 (h) Neither party to this Agreement may assign any of its
rights or obligations under this Agreement without the prior written consent of the other party hereto, except that Investor may assign, in its sole discretion, all or any of its rights, interests and obligations hereunder to any of its Affiliates.
Any assignment contrary to the provisions of this Section 11(h) shall be null and void. 
 [Signature page follows.] 

  
 5 

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of
the date first written above. 
  

			
	INVESTOR:
	
	PENELOPE MINING LLC
		
	By:		 /s/ Andres Gonzalez Saravia

		
	Name:		 Andres Gonzalez Saravia

		
	Title:		 Attorney in fact

 
			
	STOCKHOLDER:
	
	  

	Signature of Stockholder
	
	  

	Print Name of Stockholder
		
	No. Shares:		  

		
	No. Options:		  

 SCHEDULE PURSUANT TO INSTRUCTION 2

 TO 

ITEM 601 OF REGULATION S-K 

 
  

In accordance with Instruction 2 to Item 601 of Regulation S-K, the Company is only filing one copy of this Voting Agreement because the
individuals listed below entered into separate Voting Agreements that are substantially identical in all material respects except as to the parties thereto and other details. The following sets forth the names of the individuals and the number of
shares and options held by each of them: 
  

									
	 Name
	  	No. Shares	 	  	No. Options	 
			
	 B. Baker
	  	 	172,379	  	  	 	10,000	  
			
	 L. Barton
	  	 	198,134	  	  	 	159,989	  
			
	 M. Cohen
	  	 	27,048	  	  	 	10,000	  
			
	 P. Devine
	  	 	73,580	  	  	 	85,019	  
			
	 M. Gordon
	  	 	342,027	  	  	 	342,879	  
			
	 M. Justh
	  	 	110,063	  	  	 	—  	  
			
	 J. Longley
	  	 	16,494	  	  	 	62,515	  
			
	 M. MacConnel
	  	 	122,012	  	  	 	255,760	  
			
	 J. Nudi
	  	 	120,881	  	  	 	122,511	  
			
	 J. Opperman
	  	 	5,056	  	  	 	18,457	  
			
	 D. Saul
	  	 	1,111,007	  	  	 	10,000	  
			
	 J. Sawyer
	  	 	207,992	  	  	 	10,000	  
			
	 G. Stemm
	  	 	2,421,006	  	  	 	569,553	  
			
	 R. Truman
	  	 	45,412	  	  	 	111,530Form of Stockholder Agreement

 Exhibit 10.6 

EXHIBIT C 
 STOCKHOLDER AGREEMENT

 This STOCKHOLDER AGREEMENT (the “Agreement”) is made as of
[            ], 2015 by and between Odyssey Marine Exploration, Inc., a corporation organized and existing under the laws of the State of Nevada (the “Company”), and
Penelope Mining LLC, a Delaware limited liability company (the “Investor”). 
 RECITALS 

WHEREAS, the Company and the Investor are parties to a Stock Purchase Agreement, dated as of March 6, 2015 (the “Purchase
Agreement”), pursuant to which, upon the satisfaction of the conditions therein, the Investor agreed to purchase up to an aggregate of [16,854,007] shares of Series AA-1 Preferred Stock and has been granted the right to purchase up to an
aggregate of [14,446,290] shares of Series AA-2 Preferred Stock (the “Shares”); and 
 WHEREAS, in connection with the
consummation of the Initial Closing (as defined in the Purchase Agreement), and pursuant to the terms of the Purchase Agreement, the parties desire to enter into this Agreement in order to grant certain rights to the Investor as set forth below.

 NOW, THEREFORE, in consideration of the premises, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 AGREEMENT 

1. Certain Definitions. Unless the context otherwise requires, capitalized terms used herein and not otherwise defined
shall have the meanings ascribed to them in the Purchase Agreement, and the following terms, for all purposes of this Agreement, shall have the meanings specified in this Section 1: 

“Blue Sky Application” has the meaning set forth in Section 7.1(a). 

“Common Stock” means the common stock of the Company. 

“Development Plan” has the meaning set forth in Section 6(a). 

“Filing Deadline” has the meaning set forth in Section 7.1(a). 

“FINRA” means the Financial Industry Regulatory Authority. 

“First-Look Notice” has the meaning set forth in Section 6.2. 

“First-Look Rights” has the meaning set forth in Section 6.1. 

“Form S-3” means such form under the Securities Act as in effect on the date hereof or any successor or similar registration
form under the Securities Act subsequently adopted by the Commission that permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the Commission. 

 “Free Writing Prospectus” means an issuer free writing prospectus, as defined in
Rule 433 under the Securities Act, relating to an offer of Registrable Securities. 
 “Holder” means any person owning of
record Registrable Securities that have not been sold to the public or any transferee or assignee of record of such Registrable Securities to which the registration rights conferred by this Agreement have been transferred or assigned in accordance
with Section 9.6 hereof. 
 “Investor Designee” means those members of the Board of Directors designated for
election by the Investor. 
 “Mineral Deposits” means any concentration of a mineral of sufficient size and grade that it
might, under the most favorable of circumstances, be considered to have economic potential, and any rights or entitlements to any such concentration of minerals. 

“New Shares” has the meaning set forth in the definition of “Qualified Equity Offering.” 

“Participating Holder” means with respect to any registration, any Holder of Registrable Securities covered by the applicable
Registration Statement. 
 “Private Placement” has the meaning set forth in Section 4.2(ii). 

“Pro Rata Board Representation” means a number (rounded up to the next highest integer) equal to the product of (A) the
total number of directors comprising the Board of Directors, and (B) a fraction, the numerator of which is the total number of votes held by the outstanding shares of Class AA Preferred Stock, and the denominator of which is the total number of
votes held by the outstanding equity in the Company, including the shares of Class AA Preferred Stock. 
 “Prospectus”
means the prospectus included in any Registration Statement, all amendments and supplements to such prospectus, including pre- and post-effective amendments to such Registration Statement, and all other material incorporated by reference in such
prospectus. 
 “Purchase Agreement” has the meaning set forth in the Recitals. 

“Qualified Equity Offering” means a public or nonpublic offering by the Company of Common or other equity securities of the
Company or securities convertible into or exchangeable for Common Stock or other equity securities of the Company (or securities convertible into or exercisable for such securities) (collectively, “New Shares”); provided,
however, that none of the following offerings shall constitute a Qualified Equity Offering: (i) any offering, grant or issuance which is approved by the Board of Directors, pursuant to any stock purchase plan, stock ownership plan, stock
option plan or other similar plan where Common Stock is or may be issued or offered, or options or other rights to acquire Common 

  
 2 

 
Stock may be granted or offered to, or for the benefit of, any employees, officers, consultants or directors of the Company in their capacity as such, (ii) any offering made as a
consideration for the consummation of a merger or acquisition, a partnership or joint venture or strategic alliance by the Company, and not primarily for the purpose of financing, and (iii) the issuance of Common Stock on exercise or conversion
of the Warrant or the Class AA Preferred Stock. 
 “Register,” “registered” and
“registration” refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of effectiveness of such registration statement or document.

 “Registrable Securities” means any shares of Common Stock issued (or issuable) upon the conversion or exercise of any
Class AA Preferred Stock, any warrant, right or other security which is issued as a dividend or other distribution with respect to, or in exchange for or in replacement of, any such Common Stock, any other Common Stock owned by Investor, and any
securities into which such Common Stock may be converted or issued as dividends or distributions with respect to such Common Stock. 

“Registration Statement” means any registration statement of the Company that covers Registrable Securities pursuant to the
provisions of this Agreement filed with, or to be filed with, the SEC under the rules and regulations promulgated under the Securities Act, including the related Prospectus, amendments and supplements to such registration statement, including pre-
and post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement. 

“Registration Expenses” has the meaning set forth in Section 7.3. 

“Rule 144” means Rule 144 as promulgated by the SEC under the Securities Act, as such rule may be amended from time to time,
or any similar successor rule that may be promulgated by the SEC. 
 “Shares” has the meaning set forth in the Recitals.

 “Share Equivalent” means any stock, warrants, rights, calls, options or other securities exchangeable or exercisable
for, or convertible into, directly or indirectly, shares of Common Stock. 
 “Shelf Registration Statement” has the meaning
set forth in Section 7.1(a). 
 “Shelf Take-Down” has the meaning set forth in Section 7.1(c). 

“Takedown Conditions” means the conditions to the Investor’s obligation to consummate a Subsequent Closing set forth in
the Purchase Agreement. 
 “Transfer” means any direct or indirect sale, assignment, gift, pledge, transfer or other
disposition of any interest in any equity security of the Company. 
 “Warrants” means that certain Common Stock Purchase
Warrant to acquire four million (4,000,000) shares of Common Stock, issued by the Company on March 6, 2014. 

  
 3 

 2. Board Representation. 

2.1 Nomination of Investor Designees. In connection with each meeting of the stockholders of the Company at which
directors are to be elected, the Company shall (i) nominate for election as members of the Board of Directors a number of Investor Designees equal to the Pro Rata Board Representation less the number of Investor Designees who are members of the
Board of Directors and not subject to election at such meeting, and (ii) use its reasonable best efforts to cause such nominees to be elected to the Board of Directors. The nomination of a particular person for service as an Investor Designee
shall be subject to the approval of the Board of Directors (or a committee thereof), such approval not to be unreasonably withheld or delayed. 

2.2 Service on Committees. For so long as such membership does not conflict with any applicable law or regulation or
listing requirement of NASDAQ or any other securities exchange on which the Common Stock is listed for trading, the Company shall cause one Investor Designee (selected by all the Investor Designees) to serve as a member of, or at such Investor
Designee’s election, as an observer to each committee of the Board of Directors. 
 2.3 Oceanica. The Company
shall cause two Investor Designees (selected by all the Investor Designees) to serve as Administrators (or position equivalent to a member of the board of directors) of Oceanica Resources S. de R.L. 

2.4 Indemnification. In addition to any other indemnification rights the Investor Designees have pursuant to the
Transaction Documents and the Company’s Articles and bylaws, each Investor Designee that serves on the Board of Directors shall have the right to enter into, and the Company agrees to enter into, an Indemnification Agreement, in the form
attached as Exhibit D to the Purchase Agreement, concurrent with such Investor Designee becoming a member of the Board of Directors. The Company shall maintain director and officer insurance covering the Investor Designees on the same terms and with
the same amount of coverage as is provided to other members of the Board of Directors. The Company shall reimburse the reasonable expenses incurred by the Investor Designees in connection with attending (whether in person or telephonically) all
meetings of the Board of Directors or committees thereof or other Company related meetings to the same extent as all other members of the Board of Directors are reimbursed for such expenses (or, in case any such expense reimbursement policy shall
apply only to non-employee directors, to the same extent as all other non-employee directors). The Investor Designees shall be entitled to the same compensation for service on the Board of Directors, including, without limitation, cash fees, stock
options, deferred share units, restricted stock and other equity and equity-related awards, as is provided to other non-employee directors. 

2.5 Charter Documents. The Company and the Investor shall take or cause to be taken all lawful action necessary to
ensure at all times as of and following the date hereof that the Company’s Articles and bylaws are not inconsistent with the provisions of this Agreement and the Transaction Documents or the Contemplated Transactions. 

  
 4 

 3. Other Rights Regarding Equity Offerings and Equity in Oceanica. 

3.1 Restriction on Other Equity Offerings when the Commitment is Not Fully Drawn. Prior to the termination of the
Takedown Period and for as long as the Remaining Commitment is greater than zero, the Company shall not sell any Common Stock or other equity securities of the Company or securities convertible or exercisable for Common Stock or other equity
securities of the Company in a Qualified Equity Offering at a price that is greater than the per share purchase price payable by the Investor for the Shares that is then in effect under the Purchase Agreement, unless (a) the Takedown Conditions
are not satisfied and (b) the Company has requested that the Investor waive the Takedown Conditions and the Investor has declined to waive such conditions. 

3.2 Rights Regarding Equity in Oceanica. 

(a) New Oceanica Equity. In the event that Oceanica offers or proposes to offer any equity securities or securities
convertible or exchangeable for equity securities (“New Oceanica Equity”), and the Company either : (a) after giving effect to the undrawn commitment under the Purchase Agreement does not have sufficient resources to purchase
such New Oceanica Equity, or (b) by vote of a majority of the members of its Board of Directors not affiliated with Investor determines not to purchase such New Oceanica Equity, then the Company shall assign to Investor, without the requirement
for any further consideration, any and all rights it may have to acquire such New Oceanica Equity pursuant to any participation rights (including pursuant to Section 4 below), preemptive rights or similar rights to acquire such New
Oceanica Equity. 
 (b) Existing Oceanica Equity. In the event that any holder of outstanding equity securities or
securities convertible or exchangeable for equity securities of Oceanica (“Existing Oceanica Equity”) desires to Transfer all or any portion of the Existing Oceanica Equity, then: (i) the Company hereby assigns to Investor any
and all rights it may have to acquire such Existing Oceanica Equity pursuant to any rights of first offer or similar rights, (ii) consents to Investor acquiring such Existing Oceanica Equity, and (iii) agrees not to acquire or offer to
acquire such Existing Oceanica Equity, unless it shall have first offered the opportunity to acquire such Existing Oceanica Equity to Investor, and Investor shall have informed the Company in writing that it does not intend to acquire such Existing
Oceanica Equity. 
 4. Participation Rights. 

4.1 If the Company at any time or from time to time makes a Qualified Equity Offering, the Investor shall be afforded the
opportunity to acquire from the Company, for the same price and on the same terms as such securities are proposed to be offered to others, a portion of the New Shares equal to the percentage determined by dividing (x) the number of shares of
Common Stock owned by the Investor or issuable to the Investor upon conversion or exercise of any shares of Preferred Stock or Share Equivalents owned thereby, in each case as of the date of the written notice delivered by

  
 5 

 
the Company pursuant to Section 5(b), by (y) the total number of shares of Common Stock outstanding as of the date of such written notice, assuming that all shares of Preferred
Stock and Share Equivalents that are then outstanding were converted into shares of Common Stock. 
 4.2 (a) In the event the
Company intends to make a Qualified Equity Offering that is an underwritten public offering or a private offering of convertible notes or convertible preferred shares made to financial institutions for resale, no later than three (3) Business
Days after the initial filing of a registration statement with the SEC or filing of a prospectus under applicable securities laws, as the case may be, with respect to such underwritten public offering or the commencement of marketing with respect to
such Qualified Equity Offering, the Company shall give the Investor written notice of its intention (including, in the case of a public offering and to the extent possible, a copy of the prospectus included in the registration statement filed in
respect of such offering) describing, to the extent then known, the anticipated amount of securities, range of prices, timing and other material terms of such offering as well as such other information that the investor may reasonably request to
evaluate the proposed issuance. The Investor shall have five (5) Business Days from the date of receipt of any such notice (except in the case of a bought deal or overnight marketed offering, in which case the Investor shall have two
(2) Business Days from the date of receipt of any such notice) to notify the Company in writing that it intends to exercise such purchase rights and as to the amount of New Shares the Investor desires to purchase, up to the maximum amount
calculated pursuant to Section 4.1. Such notice shall constitute a non-binding indication of interest of the Investor to purchase the New Shares so specified at the range of prices and other terms set forth in the Company’s notice
to it. The failure of the Investor to respond during such five (5) Business Day period (or two (2) Business Days in the case of a bought deal or overnight marketed offering) shall constitute a waiver of the participation rights only in
respect of such offering. 
 (b) If the Company proposes to make a Qualified Equity Offering that is not an underwritten
public offering or a private offering of convertible notes or convertible preferred stock made to financial institutions for resale (a “Private Placement”), no later than ten (10) Business Days prior to the closing of such
Private Placement, the Company shall give the Investor written notice of its intention, describing, to the extent then known, the anticipated amount of securities, price and other material terms upon which the Company proposes to offer the same as
well as such other information that the investor may reasonably request to evaluate the proposed issuance. The Investor shall have five (5) Business Days from the date of receipt of the notice required by the immediately preceding sentence to
notify the Company in writing that it intends to exercise such purchase rights and as to the amount of New Shares the Investor desires to purchase, up to the maximum amount calculated pursuant to Section 4.1. Such notice shall constitute
a non-binding indication of interest of the Investor to purchase the amount of New Shares so specified (or a proportionately lesser amount if the amount of New Shares to be offered in such Private Placement is
subsequently reduced) upon the price and other terms set forth in the Company’s notice to the Investor. The failure of the Investor to respond during the five (5) Business Day period referred to in the second preceding sentence shall
constitute a waiver of the rights in respect of such offering only. 

  
 6 

 4.3 (a) If the Investor exercises its purchase rights provided in
Section 4.2(ii), the closing of the purchase of the New Shares with respect to which such right has been exercised shall be conditioned on the consummation of the Private Placement giving rise to such purchase rights and shall take place
simultaneously with the closing of the Private Placement or on such other date as the Company and the Investor shall agree in writing; provided that the actual amount of New Shares to be sold to the Investor pursuant to its exercise of rights
hereunder shall be reduced proportionately if the aggregate amount of New Shares sold in the Private Placement is reduced and, at the option of the Investor (to be exercised by delivery of written notice to the Company within five (5) Business
Days of receipt of notice of such increase), shall be increased proportionately if such aggregate amount of New Shares sold in the Private Placement is increased. In connection with its purchase of New Shares in connection with a Private Placement,
the Investor shall execute an instrument in form and substance reasonably satisfactory to the Company and the Investor containing representations, warranties and agreements of the Investor that are customary for such Private Placement transactions
and that is no less favorable to the Investor than the representations, warranties and agreements of the purchasers in the Private Placement. 

(b) If the Investor exercises its purchase rights provided in Section 4.2(i), the Company shall offer the
Investor, if such offering is consummated, the New Shares (as adjusted to reflect the actual size of such offering when priced) at the same price as the New Shares are offered to the underwriters or initial purchasers and shall provide written
notice of such price to the Investor as soon as practicable prior to such consummation. Contemporaneously with the execution of any underwriting agreement or purchase agreement entered into between the Company and the underwriters or initial
purchasers of such offering, the Investor shall enter into an instrument in form and substance reasonably satisfactory to the Company and the Investor acknowledging the Investor’s binding obligation to purchase the New Shares to be acquired by
it and containing representations, warranties and agreements of the Investor that are customary in such transactions. Any offers and sales pursuant to this Section 4 in the context of a public offering shall also be conditioned on
reasonably acceptable representations and warranties of the Investor regarding its status as the type of offeree to whom a private sale can be made concurrently with a public offering in compliance with applicable securities laws. 

4.4 In the event the Investor fails to exercise its purchase rights provided in this Section 4 within the
applicable period or, if so exercised, the Investor does not consummate such purchase within the applicable period, the Company shall thereafter be entitled enter into an agreement to sell the New Shares not purchased pursuant to this
Section 4 at the price and on the terms and conditions not materially more favorable to the purchasers thereof than those offered to the Investor within ninety (90) days after the conclusion of the applicable period without having
to offer such New Shares to the Investor in accordance with this Section 4. Any New Shares offered or sold by the Company after such ninety (90) day period must be reoffered to the Investor pursuant to this Section 5.

  
 7 

 4.5 The Company and the Investor shall cooperate in good faith to facilitate the
exercise of the Investor’s rights hereunder, including securing any required approvals or consents, in a manner that does not jeopardize the timing, marketing, pricing or execution of any offering of the Company’s securities. 

4.6 If the Company determines in good faith that circumstances require the Company to sell New Shares to any Person or Persons
without first complying with the terms set forth in this Section 5, the Company shall be permitted to sell such New Shares to such Person or Persons without complying with the terms set forth in this Section 5 in connection
with such issuance, provided that promptly following such sale, the Company permits the Investor to purchase its proportionate amount of such New Shares in the manner contemplated by this Section 5. 

5. Inspection Rights. 

5.1 The Company shall, and shall cause its officers, Board of Directors and employees to, (i) afford the Investor and its
Representatives, during normal business hours and upon reasonable notice, reasonable access at all reasonable times to its officers, employees, auditors, properties, offices, plants and other facilities (including any ships or marine vessels
utilized by the Company in its offshore operations) and to all books and records, and (ii) afford the Investor the opportunity to consult with the Company’s officers from time to time regarding the Company’s affairs, finances and
accounts as the Investor may reasonably request upon reasonable notice. 
 5.2 The right set forth in Section 5.1
above shall not and is not intended to limit any right which the Investor may have with respect to the books and records of the Company, or to inspect its properties or discuss its affairs, finances and accounts under the laws of the State of Nevada
or other applicable Law. 
 6. First-Look. 

6.1 The Investor shall have the rights set forth in this Section 6 (the “First Look Rights”) with
respect to any and all Mineral Deposits discovered by the Company or its Subsidiaries that the Company or any such Subsidiary plans to sell, lease, license, or otherwise contract with a third party to commercially exploit (other than a contract with
a third party service provider providing services to the Company or its Subsidiaries) (each, a “Development Plan”). The Company shall not implement or enter into a binding contract with respect to a Development Plan without first
complying with the First-Look Right. 
 6.2 If the Company desires to implement or enter into a binding contract with respect
to a Development Plan, the Company shall provide the Investor with written notice of the Development Plan, including a copy thereof (“First-Look Notice”), and without limiting Section 5 hereof, shall provide the Investor
with all information reasonably requested by the Investor and within the Company’s possession or control with respect to the Development Plan and the underlying Mineral Deposit. 

  
 8 

 6.3 The Investor shall have 30 days to notify the Company in writing that it
intends to exercise its First-Look Rights. 
 (a) If the Investor fails to notify the Company in writing that it is
exercising its First-Look Rights, then the Company shall be free to pursue the Development Plan subject of the First-Look Notice pursuant to Section 6(d) below. 

(b) If the Investor notifies the Company in writing that it is exercising its First-Look Rights, then Investor and the Company
shall negotiate, in good faith, a Development Plan for the Mineral Deposit, which may be the Development Plan proposed by the Company in the First-Look Notice or may be an alternate Development Plan proposed by Investor. If notwithstanding such good
faith negotiation the Investor and the Company are unable to reach a binding written agreement with respect to a Development Plan within ninety (90) days of the commencement of such good faith negotiations, the Company shall be free to pursue
the Development Plan subject of the First-Look Notice pursuant to Section 6(d) below. 
 6.4 In the circumstances
specified in Section 6(c)(i) and Section 6(c)(ii), the Company may, for a ninety (90) Business Day period seek to enter into a binding definitive written agreement with a third party for the Development Plan that is not
materially more favorable to the third party than the Development Plan that was the subject of the First-Look Notice. If the Company does not enter into a binding definitive written agreement within such period, the First-Look Rights provided
hereunder shall be deemed to be revived and the Mineral Deposits shall not be subject to a Development Plan without the Company again complying with this Section 6. 

7. Registration Rights. 

7.1 Shelf Registration. 

(a) Registration Statements. Promptly following the date hereof but no later than sixty (60) days after the
Initial Closing Date (the “Filing Deadline”), the Company shall prepare and file with the SEC one Registration Statement on Form S-3 (or, if Form S-3 is not then available to the Company, on such form of registration statement as is
then available to effect a registration for resale of the Registrable Securities) for an offering to be made on a continuous basis pursuant to Rule 415 under the Securities Act (the “Shelf Registration Statement”). Such Shelf
Registration Statement shall include the aggregate amount of Registrable Securities (including the Shares) to be registered therein and the intended methods of distribution thereof, subject to the limitations of Form S-3. To the extent the rules and
regulations of the Commission do not permit such Shelf Registration Statement to include all of the Registrable Securities, the Company shall use its reasonable best efforts to register the maximum amount permitted by the Commission and the
Registrable Securities required to be omitted from such Registration Statement shall be determined in the sole discretion of the Investor. 

  
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 (b) Effectiveness. 

(i) The Company shall use reasonable best efforts to have the Shelf Registration Statement declared effective as soon as
practicable. The Company shall notify the Investor by facsimile or e-mail as promptly as practicable, and in any event, within twenty-four (24) hours, after any Registration Statement is declared effective and shall simultaneously provide the
Investor with copies of any related Prospectus to be used in connection with the sale or other disposition of the securities covered thereby. The Company shall use its reasonable best efforts to keep any Shelf Registration Statement filed pursuant
to Section 7.1(a) continuously effective under the Securities Act in order to permit the Prospectus forming a part thereof to be usable by the Holders until the earliest of (i) the date as of which all Registrable Securities have
been sold pursuant to the Shelf Registration Statement or another Registration Statement filed under the Securities Act, (ii) the date as of which each of the Holders is permitted to sell its Registrable Securities without Registration pursuant
to Rule 144 either (A) without volume limitation or other restrictions on Transfer thereunder or (B) in a single period of three consecutive months, and (iii) such shorter period as the Investor shall agree in writing (such period of
effectiveness, the “Shelf Period”). Subject to Section 7.1(b)(ii), the Company shall not be deemed to have used its reasonable best efforts to keep the Shelf Registration Statement effective during the Shelf Period if
the Company voluntarily takes any action or omits to take any action that would result in Shelf Holders not being able to offer and sell any Registrable Securities pursuant to such Shelf Registration Statement during the Shelf Period, unless such
action or omission is required by applicable Law. 
 (ii) The Company may suspend the use of any Prospectus included in any
Registration Statement contemplated by this Section 7 if the Company furnishes to the Investor a certificate signed by the President or Chief Executive Officer of the Company certifying that the Board of Directors of the Company has
determined in good faith, after consultation with external legal counsel, that it would be materially detrimental to the Company and its stockholders not to suspend the Prospectus because such failure to do so (x) would materially interfere
with a proposed significant acquisition, disposition, financing, reorganization, recapitalization or similar transaction involving the Company, (y) would require premature disclosure of material information that the Company has a bona fide
business purpose for preserving as confidential or (z) would render the Company unable to comply with requirements under the Securities Act or Exchange Act, then the Company’s obligation to comply with this Section 7 shall be
deferred for a period not to exceed sixty (60) days from the date of such certification, provided, however, that the Company shall not exercise such right more than once in any twelve (12)-month period. 

(c) Shelf Take-Downs. An underwritten offering or sale of Registrable Securities pursuant to a Shelf Registration
Statement (a “Shelf Take-Down”) may be initiated by a Participating Holder (an “Initiating Shelf Take-Down Holder”). Upon written request to the Company, the Company shall amend or supplement the Shelf Registration
Statement for such purpose as soon as practicable. The Company shall send to such Participating Holder in the Shelf Registration Statement written notice of such Shelf Take-Down and, if within 5 days after the date of such notice, any Participating
Holder shall so request in writing, the Company shall include in such Shelf Take-Down 

  
 10 

 
all or any part of the Registrable Securities such Participating Holder requests to be included, subject to Section 7.6(a)(ii), it being understood the Company shall not be
responsible for any underwriting discounts or commissions in connection with any Shelf Take-Down. 
 7.2 Piggyback
Registrations. If the Company determines to prepare and file with the SEC a Registration Statement relating to an offering for its own account or the account of other Person of any of its Common Stock or any series of equity securities of the
Company, now or hereafter in existence, at any time during which there are Registrable Securities outstanding, other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities
to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with stock option or other employee benefit plans, then the Company shall send to each Holder written notice of such
determination and, if within 15 days after the date of such notice, any such Holder shall so request in writing, the Company shall include in such Registration Statement all or any part of the Registrable Securities such Holder requests to be
registered, subject to Section 7.6(b)(ii). 
 7.3 Expenses. All expenses incident to the Company’s
performance of or compliance with this Agreement shall be paid by the Company other than underwriting discounts or commissions deducted from the proceeds in respect of any Registrable Securities, including (i) all registration and filing fees,
and any other fees and expenses associated with filings required to be made with the SEC, FINRA or any other regulatory authority and, if applicable, the fees and expenses of any “qualified independent underwriter” as such term is defined
in NASD Rule 2720 (or any successor provision) and of its counsel (except as otherwise set forth herein), (ii) all fees and expenses in connection with compliance with any securities or “Blue Sky” laws (including fees and
disbursements of counsel for the underwriters in connection with “Blue Sky” qualifications of the Registrable Securities), (iii) all printing, duplicating, word processing, messenger, telephone, facsimile and delivery expenses
(including expenses of printing certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company and of printing Prospectuses and Free Writing Prospectuses), (iv) all fees and disbursements of counsel
for the Company and of all independent certified public accountants of the Company (including the expenses of any special audit and cold comfort letters required by or incident to such performance), (v) Securities Act liability insurance or
similar insurance if the Company so desires or the underwriters so require in accordance with then-customary underwriting practice, (vi) all fees and expenses incurred in connection with the listing of Registrable Securities on any securities
exchange or quotation of the Registrable Securities on any inter-dealer quotation system, (vii) all reasonable fees and disbursements of one legal counsel for the Participating Holders, as selected by the Investor, (viii) any reasonable
fees and disbursements of underwriters customarily paid by issuers or sellers of securities, (ix) all fees and expenses of any special experts or other Persons retained by the Company in connection with any registration, (x) all of the
Company’s internal expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties), (xi) all expenses related to the “road-show” for any underwritten offering, including all
travel, meals and lodging and (xii) any other fees and disbursements 

  
 11 

 
customarily paid by the issuers of securities. All such expenses are referred to herein as “Registration Expenses.” The Company shall not be required to pay any underwriting
discounts and commissions and transfer taxes, if any, attributable to the sale of Registrable Securities. 
 7.4 Company
Obligations. The Company will use reasonable best efforts to effect the registration of the Registrable Securities in accordance with the terms hereof, and pursuant thereto the Company will, as expeditiously as possible: 

(a) prepare the required Registration Statement including all exhibits and financial statements required under the Securities
Act to be filed therewith, and before filing a Registration Statement, Prospectus or any Free Writing Prospectus, or any amendments or supplements thereto, (x) furnish to the underwriters, if any, and the Participating Holders, if any, copies
of all documents prepared to be filed, which documents shall be subject to the review of such underwriters and the Participating Holders and their respective counsel and (y) except in the case of a registration under Section 7.2,
not file any Registration Statement or Prospectus or amendments or supplements thereto to which any Participating Holders or the underwriters, if any, shall reasonably object; 

(b) as promptly as practicable file with the SEC a Registration Statement relating to the Registrable Securities including all
exhibits and financial statements required by the SEC to be filed therewith, and use its reasonable best efforts to cause such Registration Statement to become effective under the Securities Act; 

(c) prepare and file with the SEC such pre- and post-effective amendments to such Registration Statement, supplements to the
Prospectus and such amendments or supplements to any Free Writing Prospectus as may be (y) reasonably requested by any Participating Holder or (z) necessary to keep such Registration effective for the period of time required by this
Agreement, and comply with provisions of the applicable securities Laws with respect to the sale or other disposition of all securities covered by such Registration Statement during such period in accordance with the intended method or methods of
disposition by the sellers thereof set forth in such Registration Statement; 
 (d) promptly notify the Participating
Holders and the managing underwriter or underwriters, if any, and (if requested) confirm such advice in writing and provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by the Company
(A) when the applicable Registration Statement or any amendment thereto has been filed or becomes effective, and when the applicable Prospectus or Free Writing Prospectus or any amendment or supplement thereto has been filed, (B) of any
written comments by the SEC or any request by the SEC for amendments or supplements to such Registration Statement, Prospectus or Free Writing Prospectus or for additional information, (C) of the issuance by the SEC of any stop order suspending
the effectiveness of such Registration Statement or any order by the SEC preventing or suspending the use of any preliminary or final Prospectus or any Free Writing Prospectus or the initiation or threatening of any proceedings for such purposes,

  
 12 

 
(D) if, at any time, the representations and warranties of the Company in any applicable underwriting agreement cease to be true and correct in all material respects, (E) of the receipt
by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities for offering or sale in any jurisdiction and (F) of the receipt by the Company of any notification with respect to the
initiation or threatening of any proceeding for the suspension of the qualification of the Registrable Securities for offering or sale in any jurisdiction; 

(e) promptly notify the Participating Holders and the managing underwriter or underwriters, if any, when the Company becomes
aware of the happening of any event as a result of which the Registration Statement, the Prospectus included in such Registration Statement (as then in effect) or any Free Writing Prospectus contains any untrue statement of a material fact or omits
to state a material fact necessary to make the statements therein (in the case of such Prospectus, any preliminary Prospectus or any Free Writing Prospectus, in light of the circumstances under which they were made) not misleading, when any Free
Writing Prospectus includes information that may conflict with the information contained in the Registration Statement, or, if for any other reason it shall be necessary during such time period to amend or supplement such Registration Statement,
Prospectus or Free Writing Prospectus in order to comply with the Securities Act and, in either case as promptly as reasonably practicable thereafter, prepare and file with the SEC and furnish without charge to the Participating Holders and the
managing underwriter or underwriters, if any, an amendment or supplement to such Registration Statement, Prospectus or Free Writing Prospectus which shall correct such misstatement or omission or effect such compliance; 

(f) promptly incorporate in a Prospectus supplement, Free Writing Prospectus or post-effective amendment to the applicable
Registration Statement such information as the managing underwriter or underwriters and the Participating Holders agree should be included therein relating to the plan of distribution with respect to such Registrable Securities, and make all
required filings of such Prospectus supplement, Free Writing Prospectus or post-effective amendment as soon as reasonably practicable after being notified of the matters to be incorporated in such Prospectus supplement, Free Writing Prospectus or
post-effective amendment; 
 (g) furnish to each Participating Holder and each underwriter, if any, without charge, as many
conformed copies as such Participating Holder or underwriter may reasonably request of the applicable Registration Statement and any amendment or post-effective amendment thereto, including financial statements and schedules, all documents
incorporated therein by reference and all exhibits (including those incorporated by reference); 
 (h) deliver to each
Participating Holder and each underwriter, if any, without charge, as many copies of the applicable Prospectus (including each preliminary Prospectus), any Free Writing Prospectus and any amendment or supplement thereto as such Participating Holder
or underwriter may reasonably request (it being understood that the Company consents to the use of such Prospectus, any Free Writing Prospectus and any amendment or supplement thereto by such Participating Holder and

  
 13 

 
the underwriters, if any, in connection with the offering and sale of the Registrable Securities thereby) and such other documents as such Participating Holder or underwriter may reasonably
request in order to facilitate the disposition of the Registrable Securities by such Participating Holder or underwriter; 

(i) on or prior to the date on which the Registration Statement is declared effective, use its reasonable best efforts to
register or qualify, and cooperate with the Participating Holders, the managing underwriter or underwriters, if any, and their respective counsel, in connection with the registration or qualification of such Registrable Securities for offer and sale
under the securities or “Blue Sky” laws of each state and other jurisdiction of the United States as any Participating Holder or managing underwriter or underwriters, if any, or their respective counsel reasonably request in writing and do
any and all other acts or things reasonably necessary or advisable to keep such registration or qualification in effect for such period as required by this Agreement, provided that the Company shall not be required to qualify generally to do
business in any jurisdiction where it is not then so qualified or to take any action which would subject it to taxation or general service of process in any such jurisdiction where it is not then so subject; 

(j) cooperate with the Participating Holders and the managing underwriter or underwriters, if any, to facilitate the timely
preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends, and enable such Registrable Securities to be in such denominations and registered in such names as the managing
underwriters may request at least two (2) Business Days prior to any sale of Registrable Securities to the underwriters; 

(k) cause the Registrable Securities covered by the Registration Statement to be registered with or approved by such other
governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter or underwriters, if any, to consummate the disposition of such Registrable Securities; 

(l) make such representations and warranties to the Participating Holders and the underwriters or agents, if any, in form,
substance and scope as are customarily made by issuers in secondary underwritten public offerings; 
 (m) enter into such
customary agreements (including underwriting and indemnification agreements) and take all such other actions as the Investor or the managing underwriter or underwriters, if any, reasonably request in order to expedite or facilitate the registration
and disposition of such Registrable Securities; 
 (n) obtain for delivery to the Participating Holders and to the
underwriter or underwriters, if any, an opinion or opinions from counsel for the Company dated the effective date of the Registration Statement or, in the event of an underwritten offering, the date of the closing under the underwriting agreement,
in customary form, scope and substance, which opinions shall be reasonably satisfactory to such Participating Holders or underwriters, as the case may be, and their respective counsel; 

  
 14 

 (o) in the case of an underwritten offering, obtain for delivery to the Company
and the managing underwriter or underwriters, with copies to the Participating Holders, a cold comfort letter from the Company’s independent certified public accountants in customary form and covering such matters of the type customarily
covered by cold comfort letters as the managing underwriter or underwriters reasonably request, dated the date of execution of the underwriting agreement and brought down to the date of the closing under the underwriting agreement; 

(p) cooperate with each Participating Holder and each underwriter, if any, participating in the disposition of such
Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA or any other securities regulatory authority; 

(q) comply with all applicable securities laws and make available to its security holders, as soon as reasonably practicable,
an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and the rules and regulations promulgated thereunder; 

(r) provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by the applicable
Registration Statement from and after a date not later than the effective date of such Registration Statement; 
 (s) cause
all Registrable Securities covered by the Registration Statement to be listed on each securities exchange on which any of the Common Stock is then listed or quoted and on each inter-dealer quotation system on which any of the Common Stock is then
quoted; 
 (t) make available, during normal business hours, for inspection and review by the Investor, advisors to and
Representatives of the Investor (who may or may not be affiliated with the Investor and who are reasonably acceptable to the Company), all financial and other records, periodic reports and other filings made with the SEC, and all other corporate
documents and properties of the Company as may be reasonably necessary for the purpose of such review, and cause the Company’s officers, directors and employees, within a reasonable time period, to supply all such information reasonably
requested by the Investor or any such Representative, advisor or underwriter in connection with such Registration Statement (including, without limitation, in response to all questions and other inquiries reasonably made or submitted by any of
them), prior to and from time to time after the filing and effectiveness of the Registration Statement for the sole purpose of enabling the Investor and such Representatives, advisors and underwriters and their respective accountants and attorneys
to conduct initial and ongoing due diligence with respect to the Company and the accuracy of such Registration Statement; and 

(u) with a view to making available to the Investor the benefits of Rule 144 (or its successor rule) and any other rule or
regulation of the SEC that may at any time permit the Investor to sell Registrable Securities to the public without registration, the Company covenants and agrees to: (i) make and keep public information

  
 15 

 
available, as those terms are understood and defined in Rule 144, until the earlier of (A) the date as all of the Registrable Securities may be sold without restriction by the holders
thereof pursuant to Rule 144 or any other rule of similar effect or (B) such date as all of the Registrable Securities shall have been resold; (ii) file with the SEC in a timely manner all reports and other documents required of the
Company under the Exchange Act; and (iii) furnish to the Investor upon request, as long as the Investor owns any Registrable Securities, (A) a written statement by the Company that it has complied with the reporting requirements of the
Exchange Act, (B) a copy of the Company’s most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, and (C) such other information as may be reasonably requested in order to avail the Investor of any rule or regulation
of the SEC that permits the selling of any such Registrable Securities without registration. 
 7.5 Obligations of the
Investor. 
 (a) The Investor shall furnish in writing to the Company such information regarding itself, the Registrable
Securities held by it and the intended method of disposition of the Registrable Securities held by it, as shall be reasonably required to effect the registration of such Registrable Securities and shall execute such documents in connection with such
registration as the Company may reasonably request. At least five (5) Business Days prior to the first anticipated filing date of any Registration Statement, the Company shall notify the Investor of the information the Company requires from the
Investor if the Investor elects to have any of its Registrable Securities included in the Registration Statement. The Investor shall provide such information to the Company at least two (2) Business Days prior to the first anticipated filing
date of such Registration Statement if the Investor elects to have any of its Registrable Securities included in the Registration Statement. 

(b) The Investor, by its acceptance of the Registrable Securities agrees to cooperate with the Company as reasonably requested
by the Company in connection with the preparation and filing of a Registration Statement hereunder, unless the Investor has notified the Company in writing of its election to exclude all of its Registrable Securities from such Registration
Statement. 
 (c) The Investor agrees that, upon receipt of any notice from the Company of either the commencement of a
suspension pursuant to Section 7.1(b)(ii) or the happening of an event contemplated by Section 7.4(d)(C) or Section 7.4(e)7.4(d)(E) hereof, the Investor will immediately discontinue disposition of Registrable
Securities pursuant to the Registration Statement covering such Registrable Securities, until the Investor is advised by the Company that such dispositions may again be made. 

  
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 7.6 Underwriting. 

(a) Shelf Registrations. 

(i) If the Initiating Shelf Take-Down Holder so requests, an offering of Registrable Securities shall be in the form of an
underwritten offering, and such Initiating Shelf Take-Down Holder shall have the right to select the managing underwriter or underwriters to administer the offering. In the case of an underwritten offering under Section 7.1, the price,
underwriting discount and other financial terms for the Registrable Securities shall be determined by the Initiating Shelf Take-Down Holder. 

(ii) If the managing underwriter or underwriters of a proposed underwritten offering of the Registrable Securities included in
a Shelf Take-Down advise the Board of Directors in writing that, in its or their opinion, the number of securities requested to be included in such Shelf Take-Down exceeds the number which can be sold in such offering without being likely to have a
significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, the securities to be included in such Shelf Take-Down (i) first, shall be allocated pro rata among
the Participating Holders that have requested to participate in such Shelf Take-Down based on the relative number of Registrable Securities requested by each Participating Holder to be included in such Shelf Take-Down and (ii) second,
and only if all the securities referred to in clause (i) have been included in such Shelf Take-Down, the number of securities that the Company proposes to include in such Shelf Take-Down that, in the opinion of the managing underwriter or
underwriters, can be sold without having such adverse effect. 
 (iii) If requested by the underwriters for any underwritten
offering requested by an Initiating Shelf Take-Down Holder under Section 7.1, the Company shall enter into an underwriting agreement with such underwriters for such offering, such agreement to be reasonably satisfactory in substance and
form to the Company, the Initiating Shelf Take-Down Holder and the underwriters, and to contain such representations and warranties by the Company and such other terms as are generally prevailing in agreements of that type, including customary
indemnities. 
 (b) Piggyback Registrations. 

(i) If the Company proposes to register any of its Common Stock or any other series of equity securities of the Company, now
or hereafter in existence, under the Securities Act as contemplated by Section 7.2 and such securities are to be distributed in an underwritten offering through one or more underwriters, the Company shall, if requested by any Holders
pursuant to Section 7.2, use its reasonable best efforts to arrange for such underwriters to include on the same terms and conditions that apply to the other sellers in such registration all the Registrable Securities to be offered and
sold by such Holders among the securities of the Company to be distributed by such underwriters in such registration. 

(ii) If the managing underwriter or underwriters of any proposed underwritten offering including Registrable Securities
pursuant to Section 7.2 informs the Company and each Participating Holder that, in its or their opinion, the number of securities which the Participating Holders intend to include in such offering

  
 17 

 
exceeds the number which can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for
the securities offered, then the securities to be included in such registration shall be (i) first, 100% of the securities that the Company intends to include and (ii) second, and only if all the securities referred to in
clause (i) have been included, the number of Registrable Securities that, in the opinion of such managing underwriter or underwriters, can be sold without having such adverse effect in such registration, which such number shall be allocated
pro rata among the Participating Holders that have requested to participate in such registration based on the relative number of Registrable Securities requested by each Participating Holder to be included in such underwritten offering. 

(c) Participation in Underwritten Registrations. Subject to the provisions of Section 7.6(a)(ii) and
Section 7.6(b)(ii) above, no Person may participate in any underwritten offering hereunder unless such Person (i) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the
Persons entitled to approve such arrangements and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements and all
applicable securities laws; provided, that this sentence shall not be construed to require any Holder to enter into any standstill or similar agreement with the underwriters. The Participating Holders shall be parties to such underwriting
agreement, which underwriting agreement shall (i) contain such representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such Participating Holders as are customarily made by issuers to
selling stockholders in secondary underwritten public offerings and (ii) provide that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement also shall be conditions precedent to the
obligations of such Participating Holders. Any such Participating Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters in connection with such underwriting agreement other than
representations, warranties or agreements regarding such Participating Holder, such Participating Holder’s title to the Registrable Securities, such Participating Holder’s authority to sell the Registrable Securities, such Participating
Holder’s intended method of distribution, absence of liens with respect to the Registrable Securities, enforceability of the applicable underwriting agreement as against such Participating Holder, receipt of all consents and approvals with
respect to the entry into such underwriting agreement and the sale of such Registrable Securities and any other representations required to be made by such Participating Holder under applicable law, rule or regulation, and the aggregate amount of
the liability of such Participating Holder in connection with such underwriting agreement shall not exceed such Participating Holder’s net proceeds from such underwritten offering. 

(d) Clear Market. With respect to any underwritten offerings, the Company agrees not to, and shall not be obligated to,
effect any public sale or distribution, or to file any Registration Statement covering any of its equity securities or any securities convertible into or exchangeable or exercisable for such securities, during the period not to exceed ten
(10) days prior and sixty (60) days following the effective 

  
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date of such offering (or such lesser period that the managing underwriters in any underwritten offering permit). Notwithstanding the foregoing, the Company may effect the registration of
(A) equity securities and/or options or other rights in respect thereof solely registered on Form S-4 or Form S-8 (or successor form) or (B) shares of equity securities and/or options or other rights in respect thereof to be offered to
directors, employees, consultants, customers, lenders or vendors of the Company or its Subsidiaries or in connection with dividend reinvestment plans. 

7.7 Indemnification. 

(a) Indemnification by the Company. The Company will indemnify and hold harmless the Investor and its officers,
directors, members, employees and agents, successors and assigns, and each other person, if any, who controls the Investor within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which they
may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of any
material fact contained in any Registration Statement, any preliminary Prospectus or final Prospectus, or any amendment or supplement thereof; (ii) any “Blue Sky” application or other document executed by the Company specifically for
that purpose or based upon written information furnished by the Company filed in any state or other jurisdiction in order to qualify any or all of the Registrable Securities under the securities laws thereof (any such application, document or
information herein called a “Blue Sky Application”); (iii) the omission or alleged omission to state in a Blue Sky Application a material fact required to be stated therein or necessary to make the statements therein not
misleading; (iv) any violation by the Company or its agents of any rule or regulation promulgated under the Securities Act applicable to the Company or its agents and relating to action or inaction required of the Company in connection with
such registration; or (v) any failure to register or qualify the Registrable Securities included in any such Registration Statement in any state where the Company or its agents has affirmatively undertaken or agreed in writing that the Company
will undertake such registration or qualification on the Investor’s behalf and will reimburse the Investor, and each such officer, director or member and each such controlling person for any legal or other expenses reasonably incurred by them
in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or
liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by the Investor or any such controlling person in writing specifically for use
in such Registration Statement or Prospectus; and provided, further, that the Company shall not be required to indemnify any Person against any liability arising from any untrue or misleading statement or omission contained in any
preliminary Prospectus if such deficiency is corrected on a timely basis in the final prospectus and the indemnified person was promptly advised in writing not to use the incorrect prospectus prior to the use giving rise to a claim for
indemnification hereunder, and such indemnified person, notwithstanding such advice, used such incorrect prospectus. 

  
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 (b) Indemnification by the Investor. The Investor agrees, severally but
not jointly, to indemnify and hold harmless, to the fullest extent permitted by law, the Company, its directors, officers, employees and each person who controls the Company (within the meaning of the Securities Act) against any losses, claims,
damages, liabilities and expense (including reasonable attorney fees) resulting from any untrue statement of a material fact or any omission of a material fact required to be stated in the Registration Statement or Prospectus or preliminary
Prospectus or amendment or supplement thereto or necessary to make the statements therein not misleading, to the extent, but only to the extent that such untrue statement or omission is contained in any information furnished in writing by the
Investor to the Company specifically for inclusion in such Registration Statement or Prospectus or amendment or supplement thereto. In no event shall the liability of the Investor be greater in amount than the dollar amount of the proceeds (net of
all expense paid by the Investor in connection with any claim relating to this Section 7 and the amount of any damages the Investor has otherwise been required to pay by reason of such untrue statement or omission) received by the
Investor upon the sale of the Registrable Securities included in the Registration Statement giving rise to such indemnification obligation. 

(c) Conduct of Indemnification Proceedings. Any person entitled to indemnification hereunder shall (i) give prompt
notice to the indemnifying party of any claim with respect to which it seeks indemnification and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party
(provided, however, that such indemnified party shall, at the expense of the indemnifying company, be entitled to counsel of its own choosing to monitor such defense); provided that, subject to the preceding sentence, any person
entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such person unless (a) the indemnifying
party has agreed to pay such fees or expenses, or (b) the indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory to such person or (c) in the reasonable judgment of any such
person, based upon written advice of its counsel, a conflict of interest exists between such person and the indemnifying party with respect to such claims (in which case, if the person notifies the indemnifying party in writing that such person
elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such person); and provided, further, that the failure of any
indemnified party to give notice as provided herein shall not relieve the indemnifying party of its obligations hereunder, except to the extent that such failure to give notice shall materially adversely affect the indemnifying party in the defense
of any such claim or litigation. It is understood that the indemnifying party shall not, in connection with any proceeding in the same jurisdiction, be liable for fees or expenses of more than one separate firm of attorneys at any time for all such
indemnified parties. No indemnifying party will, except with the consent of the indemnified party, consent to entry of any judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant or
plaintiff to such indemnified party of a release from all liability in respect of such claim or litigation and no admission of liability on the part of the indemnified party. 

  
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 (d) Contribution. If for any reason the indemnification provided for in
the preceding paragraphs (a) and (b) is unavailable to an indemnified party or insufficient to hold it harmless, other than as expressly specified therein, then the indemnifying party shall contribute to the amount paid or payable by the
indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnified party and the indemnifying party, as well as any other relevant equitable considerations. No
person guilty of fraudulent misrepresentation within the meaning of Section 11(f) of the Securities Act shall be entitled to contribution from any person not guilty of such fraudulent misrepresentation. In no event shall the contribution
obligation of a holder of Registrable Securities be greater in amount than the dollar amount of the proceeds (net of all expenses paid by such holder in connection with any claim relating to this Section 7 and the amount of any damages
such holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission) received by it upon the sale of the Registrable Securities giving rise to such contribution obligation. 

8. Miscellaneous. 

8.1 Rules of Construction. 

(a) When a reference is made in this Agreement to a Section, such reference shall be to a Section of this Agreement unless
otherwise indicated. 
 (b) Whenever the words “include,” “includes” or “including” are used
in this Agreement, they shall be deemed to be followed by the words “without limitation.” 
 (c) Whenever the word
“or” is used in this Agreement, it shall not be deemed exclusive. 
 (d) The definitions contained in this
Agreement are applicable to the singular as well as to the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. Whenever the context requires, any pronouns used herein shall include the
corresponding masculine, feminine or neuter forms. 
 (e) Except as expressly stated in this Agreement, all references to
any Law are to such Law as amended, modified, supplemented or replaced from time to time, and all references to any section of any Law include any successor to such section. 

(f) Except as expressly stated in this Agreement, all references to any agreement are to such agreement and include any
exhibits, annexes and schedules attached to such agreement, in each case, as the same is in effect as of the date of this Agreement and in the case of any such agreement to which the parties are other than all of the parties to this Agreement,
without giving effect to any subsequent amendment or modification. 

  
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 (g) All references to “$” or “dollars” mean the lawful
currency of the United States of America. 
 (h) Unless otherwise specified herein, all accounting terms used herein shall
be interpreted, all determinations with respect to accounting matters hereunder shall be made, and all financial statements and certificates and reports as to financial matters required to be furnished hereunder shall be prepared in accordance with
United States generally accepted accounting principles, as consistently applied by the Company. 
 (i) No specific
provision, representation or warranty shall limit the applicability of a more general provision, representation or warranty. It is the intent of the parties that each representation, warranty, covenant, condition and agreement contained in this
Agreement shall be given full, separate, and independent effect and that such provisions are cumulative. 
 (j) The parties
hereto have participated jointly in the negotiation and drafting of this Agreement with the assistance of counsel and other advisors and, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as
jointly drafted by the parties hereto and thereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. 

(k) The table of contents and the headings contained in this Agreement is for reference purposes only and shall not affect in
any way the meaning or interpretation of this Agreement. 
 8.2 Entire Agreement. This Agreement, the other
Transaction Documents, the Schedules hereto and thereto, and the other agreements included as exhibits hereto and thereto constitute the entire agreement among the parties with respect to the subject matter hereof and supersede all prior agreements
and, understandings, among the parties with respect to the subject matter hereof and thereof. In the event of a conflict between the terms of this Agreement and the other Transaction Documents (other than the Certificate of Designation or the
Articles of Amendment), the terms of the Purchase Agreement shall be primary and this Agreement shall be secondary. 
 8.3
Notices. All notices and other communications provided for or permitted hereunder shall be made as set forth in Section 11.3 of the Purchase Agreement. 

8.4 Fees, Costs and Expenses. Except as expressly provided otherwise in this Agreement, all fees, costs and expenses
incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such fees, costs and expenses, whether or not such transactions are consummated. 

  
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 8.5 Amendments; Waiver 

(a) This Agreement may be amended, superseded, canceled, renewed or extended only by a written instrument signed by each of
the parties hereto. 
 (b) A party may by written instrument signed on behalf of such party: (i) extend the time for
the performance of any of the obligations or other acts of another party due to it, (ii) waive any inaccuracies in the representations and warranties made to it contained in this Agreement or, or (iii) waive compliance with any covenants,
obligations, or conditions in its favor contained in this Agreement. No claim or right arising out of this Agreement can be waived by a party, in whole or in part, unless made in a writing signed by such party. Neither any course of conduct or
dealing nor failure or delay by any party in exercising any right, power, or privilege under this Agreement will operate as a waiver of such right, power, or privilege, and no single or partial exercise of any such right, power, or privilege will
preclude any other or further exercise of such right, power, or privilege or the exercise of any other right, power, or privilege. A waiver given by a party will be applicable only to the specific instance for which it is given. 

8.6 Bind Effect; Assignment. This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and permitted assigns. Neither this Agreement, nor any right, duty or obligation of any party hereunder, may be assigned or delegated by the Company without the prior written consent of the Investor. The Investor may
assign its rights and delegate its obligations hereunder; provided that no such assignment or delegation shall relieve Investor of its obligations hereunder. Any purported assignment of rights or delegation of obligations in violation of this
Section will be void. References to a party in this Agreement also refer to such party’s successors and permitted assigns. 

8.7 No Third Party Beneficiaries. Except as explicitly set forth herein, nothing in this Agreement is intended or shall
be construed to give any person, other than the parties hereto, their successors and permitted assigns, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. 

8.8 No Recourse Against Nonparty Affiliates. All claims, obligations, liabilities, or causes of action (whether in
contract, common or statutory law, equity or otherwise) that arise out of or relate to this Agreement, or the negotiation, execution, or performance of this Agreement, may be made only against the parties that are signatories to this Agreement
(“Contracting Parties”). No Person who is not a Contracting Party, including any officer, employee, member, partner or manager signing this Agreement or any certificate delivered in connection herewith on behalf of any Contracting
Party (“Nonparty Affiliates”) shall have any liability (whether in contract, tort, common or statutory law, equity or otherwise) for any claims, obligations, liabilities or causes of action arising out of, or relating in any manner
to, this Agreement or based on, in respect of, or by reason of this Agreement or the negotiation, execution, performance, or breach of the Agreement; and, to the maximum extent permitted by law, each Contracting Party hereby waives and releases all
such liabilities, claims, causes of action, and obligations against any such Nonparty Affiliates. 

  
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 8.9 Exclusive Forum in Designated Courts. Any dispute, controversy,
proceeding or claim arising out of or relating to: (i) this Agreement, or any of the Contemplated Transactions or the subject matter hereof, (ii) the breach, termination, enforcement, interpretation or validity of this Agreement, including
the determination of the scope or applicability of this agreement to arbitrate, or (iii) the relationship among the parties hereto or thereto, in each case, whether in contract, tort, common or statutory law, equity or otherwise (collectively,
a “Dispute”), shall be brought exclusively in either (x) the United States District Court for the Southern District of New York, to the extent that such court has subject matter jurisdiction, or (y) the Commercial Division
of the Supreme Court of the State of New York in the County of New York (or if such court lacks subject matter jurisdiction, in the courts of the State of New York in the County of New York) (the “Designated Court”). Each of the
parties hereto hereby irrevocably submits with regard to any such action or proceeding for itself and in respect of its property, generally and unconditionally, to the personal jurisdiction of the Designated Court and agrees that it will not bring
any action whether in tort, contract, common or statutory law, equity or otherwise arising out of or relating to this Agreement or any of the Contemplated Transactions or the subject matter hereof or thereof in any court other than the Designated
Court. Each of the parties hereto hereby irrevocably waives, and agrees not to assert as a defense, counterclaim or otherwise, in any action or proceeding with respect to this Agreement, (a) any claim that it is not personally subject to the
jurisdiction of the Designated Court, (b) any claim that it or its property is exempt or immune from jurisdiction of the Designated Court or from any legal process commenced in such Designated Court (whether through service of notice,
attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise), and (c) to the fullest extent permitted by applicable Law, any claim that (i) the suit, action or proceeding in such Designated
Court is brought in an inconvenient forum, (ii) the venue of such suit, action or proceeding is improper, or (iii) this Agreement, any other Transaction Document, or the subject matter hereof or thereof, may not be enforced in or by such
Designated Court. 
 8.10 Consent to Service of Process. Each of the parties hereto hereby irrevocably and
unconditionally consents to service of process in the manner provided for notices in Section 11.3 of the Purchase Agreement and agrees that nothing in this Agreement will affect the right of any party hereto to serve process in any other manner
permitted by applicable Law. 
 8.11 Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY DISPUTE IS
LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT KNOWINGLY, VOLUNTARILY, INTENTIONALLY, IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY DISPUTE. 

8.12 Specific Performance. The parties agree that irreparable damage would occur in the event that any of the provisions
of this Agreement were not performed in accordance with their specific terms and that monetary damages, even if available, would not be an adequate remedy therefor. It is accordingly agreed that the parties shall be entitled to specific performance
of the terms hereof, this being in addition to any other remedy to which they are entitled at law or in equity. The parties acknowledge that the awarding of equitable remedies is within the discretion of the applicable court. 

  
 24 

 8.13 Remedies Cumulative. The rights and remedies of the parties are
cumulative and not alternative. 
 8.14 Counterparts. This Agreement may be executed in one or more counterparts, each
of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. 

8.15 Signatures/E-delivery; Reproduction of Documents. 

(a) A manually signed copy of this Agreement delivered by facsimile, email or other means of electronic transmission shall be
deemed to have the same legal effect as delivery of an original signed copy of this Agreement. No legally binding obligation shall be created with respect to a party until such party has delivered or caused to be delivered a manually signed copy of
this Agreement. 
 (b) This Agreement and all certificates and documents relating hereto and thereto, including, without
limitation, (i) consents, waivers and modifications that may hereafter be executed, (ii) documents received by each party pursuant hereto, and (iii) financial statements and other information previously or hereafter furnished to each
party, may be reproduced by each party by electronic digital storage, computer tapes, photographic, photostatic, optical character recognition, microfilm, microcard, miniature photographic or other similar process, and each party may destroy any
original document so reproduced. All parties hereto agree and stipulate that any such reproduction shall be admissible in evidence as the original itself in any judicial, arbitration or administrative proceeding (whether or not the original is in
existence and whether or not such reproduction was made by each party in the regular course of business) and that any enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in evidence. 

8.16 Severability. 

(a) If any provision of this Agreement is determined to be invalid, illegal or unenforceable, the remaining provisions of this
Agreement shall remain in full force, if the essential terms and conditions of this Agreement for each party remain valid, binding and enforceable. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto
intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. 

(b) Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof or thereof; and the invalidity of a particular provision in
a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

  
 25 

 [Remainder of Page Intentionally Left Blank] 

  
 26 

 IN WITNESS WHEREOF, the parties have caused this Stockholder Agreement to be duly executed and
delivered by their proper and duly authorized officers as of the day and year first written above. 
  

			
	ODYSSEY MARINE EXPLORATION, INC.
		
	By:		  

			Name:
			Title:
	
	PENELOPE MINING LLC
		
	By:		  

			Name:
			Title:

 [Signature Page to Stockholder Agreement]

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