Document:

2011 Employee Stock Purchase Plan

 Exhibit 10.2 
 IDENTIVE GROUP, INC. 
  

 
 2011 EMPLOYEE
STOCK PURCHASE PLAN 

 IDENTIVE GROUP, INC. 

 
  

2011 EMPLOYEE STOCK PURCHASE PLAN 
 1. Purpose. The purpose of the Plan is to provide incentive for present and future employees of the Company and any Designated Subsidiary to acquire a proprietary interest (or increase an existing
proprietary interest) in the Company through the purchase of Common Stock. It is the Company’s intention that the Plan qualify as an “employee stock purchase plan” under Section 423 of the Code. Accordingly, the provisions of the
Plan shall be administered, interpreted and construed in a manner consistent with the requirements of that section of the Code. 

2. Definitions. 

(a) “Applicable Percentage” means, with respect to each Offering Period, eighty-five percent (85%), unless and until
such Applicable Percentage is increased by the Committee, in its sole discretion, provided that any such increase in the Applicable Percentage with respect to a given Offering Period must be established not less than fifteen (15) days prior to
the Offering Date thereof. 
 (b) “Board” means the Board of Directors of the Company. 

(c) “Code” means the Internal Revenue Code of 1986, as amended, and any successor thereto. 

(d) “Committee” means the Compensation Committee of the Board or, if no such Committee exists, then the Board.

 (e) “Common Stock” means the Company’s common stock, par value $0.001 per share. 

(f) “Company” means the Identive Group, Inc., a Delaware corporation. 

(g) “Compensation” means, with respect to each Participant for each pay period, the full base salary and overtime paid
to such Participant by the Company or a Designated Subsidiary. Except as otherwise determined by the Committee, “Compensation” does not include: (i) bonuses or commissions, (ii) any amounts contributed by the Company or a
Designated Subsidiary to any pension plan, (iii) any automobile or relocation allowances (or reimbursement for any such expenses), (iv) any amounts paid as a starting bonus or finder’s fee, (v) any amounts realized from the
exercise of any stock options or incentive awards, (vi) any amounts paid by the Company or a Designated Subsidiary for other fringe benefits, such as health and welfare, hospitalization and group life insurance benefits, or perquisites, or paid
in lieu of such benefits, or (vii) other similar forms of extraordinary compensation. 
 (h) “Continuous Status as
an Employee” means the absence of any interruption or termination of service as an Employee. Continuous Status as an Employee shall 

 
not be considered interrupted in the case of a leave of absence agreed to in writing by the Company or the Designated Subsidiary that employs the Employee, provided that such leave is for a
period of not more than 90 days or reemployment upon the expiration of such leave is guaranteed by contract or statute. 
 (i)
“Designated Subsidiaries” means the Subsidiaries that have been designated by the Board from time to time in its sole discretion as eligible to participate in the Plan. 

(j) “Employee” means any person, including an Officer, whose customary employment with the Company or one of its
Designated Subsidiaries is at least twenty (20) hours per week and more than five months in any calendar year. 
 (k)
“Entry Date” means the first day of each Exercise Period. 
 (l) “Exchange Act” means the
Securities Exchange Act of 1934, as amended. 
 (m) “Exercise Date” means the last Trading Day ending on or
before each June 30 and December 31. 
 (n) “Exercise Period” means, for any Offering Period, each
period commencing on the Offering Date and on the first Trading Day after each Exercise Date, and terminating on the immediately following Exercise Date. 
 (o) “Exercise Price” means the price per share of Common Stock offered in a given Offering Period determined as provided in Section 7(b). 

(p) “Fair Market Value” means, with respect to a share of Common Stock, the Fair Market Value as determined under
Section 7(c). 
 (q) “First Offering Date” means July 1, 2011. 

(r) “Offering Date” means the first Trading Day of each Offering Period; provided, that in the case of an individual who
becomes eligible to become a Participant under Section 3(b) after the first Trading Day of an Offering Period, the term “Offering Date” shall mean the first Trading Day of the Exercise Period coinciding with or next succeeding the day
on which that individual becomes eligible to become a Participant. Options granted after the first day of an Offering Period will be subject to the same terms as the options granted on the first Trading Day of such Offering Period except that they
will have a different grant date (thus, potentially, a different Exercise Price) and, because they expire at the same time as the options granted on the first Trading Day of such Offering Period, a shorter term. 

(s) “Offering Period” means, subject to adjustment as provided in Section 4(b) or 4(c), (i) with respect to
the first Offering Period, the period beginning on the First Offering Date and ending on June 30, 2013, and (ii) with respect to each Offering Period thereafter, the period beginning on the July 1 immediately following the end of the
previous Offering Period and ending on the June 30 which is 24 months thereafter. 

  
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 (t) “Officer” means a person who is an officer of the Company within the
meaning of Section 16 under the Exchange Act and the rules and regulations promulgated thereunder. 
 (u)
“Participant” means an Employee who has elected to participate in the Plan by filing an enrollment agreement with the Company as provided in Section 5 hereof. 

(v) “Plan” means this Identive Group, Inc. 2011 Employee Stock Purchase Plan. 

(w) “Plan Contributions” means, with respect to each Participant, the lump sum cash transfers, if any, made by the
Participant to the Plan pursuant to Section 6(a) hereof, plus the after-tax payroll deductions, if any, withheld from the Compensation of the Participant and contributed to the Plan for the Participant as provided in Section 6 hereof, and
any other amounts contributed to the Plan for the Participant in accordance with the terms of the Plan. 
 (x)
“Subsidiary” means any corporation, domestic or foreign, of which the Company owns, directly or indirectly, 50% or more of the total combined voting power of all classes of stock, and that otherwise qualifies as a “subsidiary
corporation” within the meaning of Section 424(f) of the Code. 
 (y) “Trading Day” means a day on
which the national stock exchanges, including the NASDAQ Stock Market, are open for trading. 
 3. Eligibility. 

(a) First Offering Date. Any individual who is an Employee as of the First Offering Date shall be eligible to become a Participant
as of the First Offering Date. 
 (b) Subsequent Offering Dates. Any individual who is an Employee as of the Offering
Date of a given Offering Period shall be eligible to become a Participant as of any Entry Date within that Offering Period under the Plan. 
 4. Offering Periods. 
 (a) In General. The Plan shall generally be
implemented by a series of Offering Periods. The first Offering Period shall commence on the First Offering Date and end on June 30, 2013, and succeeding Offering Periods shall commence on the July 1 immediately following the end of the
previous Offering Period and end on the June 30 which is 24 months thereafter. 
 (b) Automatic Reset of Offering
Period. If the Fair Market Value of a share of Common Stock on any Exercise Date (except the final scheduled Exercise Date of any Offering Period) is lower than the Fair Market Value of a share of Common Stock on the first Trading Day of the
Offering Period in progress, then the Offering Period in progress shall end immediately following the close of trading on such Exercise Date, and a new Offering Period shall begin on the next subsequent January 1 or July 1, as applicable,
and shall extend for a 24 

  
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month period ending on December 31 or June 30, as applicable. Subsequent Offering Periods shall commence on the January 1 or July 1, as applicable, immediately following the
end of the previous Offering Period and shall extend for a 24 month period ending on December 31 or June 30, as applicable. 
 (c) Changes by Committee. 
 (i) The Committee shall have the power to make other
changes to the duration and/or the frequency of Offering Periods with respect to future offerings if such change is announced at least five days prior to the scheduled beginning of the first Offering Period to be affected. 

(ii) The Committee may shorten the duration of any Offering Period then in progress by requiring that it end immediately following the
close of trading on any Exercise Date within that Offering Period (after the purchase of Common Stock on that Exercise Date), if such change is announced at least five days prior to the Exercise Date on which the Committee proposes that the Offering
Period terminate. 
 (iii) If the Company determines that the accounting treatment of purchases under the Plan will change or
has changed in a manner that is detrimental to the Company’s best interests, then the Committee may, in its discretion, take any or all of the following actions: (i) terminate any Offering Period that is then ongoing as of the next
Exercise Date (after the purchase of Common Stock on such Exercise Date); (ii) set a new Exercise Date for any ongoing Offering Period and terminate such Offering Period after the purchase of Common Stock on such Exercise Date; (iii) amend
the Plan so that each offering under the Plan will reduce the effect of such detrimental accounting treatment; or (iv) terminate any ongoing Offering Period at any time and refund any contributions to the applicable Participants. 

5. Participation. 
 (a) Entry Dates. Employees meeting the eligibility requirements of Section 3(b) hereof after the First Offering Date may elect to participate in the Plan commencing on any Entry Date by
completing an enrollment agreement on the form provided by the Company and filing the enrollment agreement with the Company on or prior to such Entry Date, unless a later time for filing the enrollment agreement is set by the Committee for all
eligible Employees with respect to a given offering. 
 (b) Special Rule for First Offering Date. All Employees who are
eligible as of the First Offering Date may elect to participate in the Plan commencing as of the First Offering Date by completing an enrollment agreement on the form provided by the Company and filing the enrollment agreement with the Company on or
prior the deadline prescribed by the Company for initial enrollment. 
 6. Plan Contributions. 

(a) Contribution by Payroll Deduction. Except as otherwise authorized by the Committee, all contributions to the Plan shall be
made only by payroll deductions. The 

  
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Committee may, but need not, permit Participants to make after-tax contributions to the Plan at such times and subject to such terms and conditions as the Committee may in its discretion
determine. All such additional contributions shall be made in a manner consistent with the provisions of Section 423 of the Code or any successor thereto, and shall be treated in the same manner as payroll deductions contributed to the Plan as
provided herein. 
 (b) Payroll Deduction Election on Enrollment Agreement. At the time a Participant files the
enrollment agreement with respect to an Offering Period, the Participant may authorize payroll deductions to be made on each payroll date during the portion of the Offering Period that he or she is a Participant in an amount not less than 1% and not
more than 20% (or such other percentage as determined by the Committee and announced at least five days prior to the first day of the Exercise Period in which such change is to be made effective) of the Participant’s Compensation on each
payroll date during the portion of the Offering Period that he or she is a Participant. The amount of payroll deductions must be a whole percentage (e.g., 1%, 2%, 3%, etc.) of the Participant’s Compensation. 

(c) Commencement of Payroll Deductions. Except as otherwise determined by the Committee under rules applicable to all
Participants, payroll deductions for Participants enrolling in the Plan shall commence with the earliest administratively practicable payroll period that begins on or after the Entry Date with respect to which the Participant files an enrollment
agreement in accordance with Section 5. 
 (d) Automatic Continuation of Payroll Deductions. Unless a Participant
elects otherwise prior to the last Exercise Date of an Offering Period, including the last Exercise Date prior to termination in the case of an Offering Period terminated under Section 4(b) or 4(c) hereof, such Participant shall be deemed
(i) to have elected to participate in the immediately succeeding Offering Period (and, for purposes of such Offering Period the Participant’s “Entry Date” shall be deemed to be the first day of such Offering Period) and
(ii) to have authorized the same payroll deduction for the immediately succeeding Offering Period as was in effect for the Participant immediately prior to the commencement of the succeeding Offering Period. 

(e) Change of Payroll Deduction Election. A Participant may decrease or increase the rate or amount of his or her payroll
deductions during an Offering Period (within the limitations of Section 6(b) above) by completing and filing with the Company a new enrollment agreement authorizing a change in the rate or amount of payroll deductions; provided, that a
Participant may not change the rate or amount of his or her payroll deductions more than once in any Exercise Period. Except as otherwise determined by the Committee under rules applicable to all Participants, the change in rate or amount shall be
effective as of the earliest administratively practicable payroll period that begins on or after the date the Committee receives the new enrollment agreement. Additionally, a Participant may discontinue his or her participation in the Plan as
provided in Section 13(a). 
 (f) Automatic Changes in Payroll Deduction. Notwithstanding the foregoing, to the
extent necessary to comply with Section 423(b)(8) of the Code, Section 7(d) hereof, or any other applicable law, a Participant’s payroll deductions may be decreased, including to 0%, at such time during any Exercise Period which is
scheduled to end during the current calendar year 

  
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that the aggregate of all payroll deductions accumulated with respect to such Exercise Period and any other Exercise Period ending within the same calendar year are equal to the product of
$25,000 multiplied by the Applicable Percentage for the calendar year. Payroll deductions shall recommence at the rate provided in the Participant’s enrollment agreement at the beginning of the following Exercise Period which is scheduled to
end in the following calendar year, unless the Participant terminates participation as provided in Section 13(a). 
 7.
Grant of Option. 
 (a) Shares of Common Stock Subject to Option. On a Participant’s Entry Date, subject to the
limitations set forth in Section 7(d) and this Section 7(a), the Participant shall be granted an option to purchase on each subsequent Exercise Date during the Offering Period in which such Entry Date occurs (at the Exercise Price
determined as provided in Section 7(b) below) up to a number of shares of Common Stock determined by dividing such Participant’s Plan Contributions accumulated prior to such Exercise Date and retained in the Participant’s account as
of such Exercise Date by the Exercise Price; provided, that the maximum number of shares a Participant may purchase during any Exercise Period shall be 12,500 shares. 
 (b) Exercise Price. The Exercise Price per share of Common Stock offered to each Participant in a given Offering Period shall be the lower of: (i) the Applicable Percentage of the Fair Market
Value of a share of Common Stock on the Offering Date, or (ii) the Applicable Percentage of the Fair Market Value of a share of Common Stock on the Exercise Date. 
 (c) Fair Market Value. The Fair Market Value of a share of Common Stock on a given date shall be determined by the Committee or under procedures established by the Committee. Unless otherwise
determined by the Committee, the Fair Market Value of a share of Common Stock as of any given date shall be the closing sale price per share reported on a consolidated basis for stock listed on the principal stock exchange or market on which shares
are traded on the date as of which such value is being determined, or, if there is no sale on that date, then on the last previous day on which a sale was reported. 
 (d) Limitation on Option that may be Granted. Notwithstanding any provision of the Plan to the contrary, no Participant shall be granted an option under the Plan (i) to the extent that if,
immediately after the grant, such Employee (or any other person whose stock would be attributed to such Employee pursuant to Section 424(d) of the Code) would own stock and/or hold outstanding options to purchase stock possessing 5% or more of
the total combined voting power or value of all classes of stock of the Company or of any Subsidiary of the Company, or (ii) to the extent that his or her rights to purchase stock under all employee stock purchase plans of the Company and its
Subsidiaries intended to qualify under Section 423 of the Code accrue at a rate which exceeds $25,000 of Fair Market Value of Common Stock (determined at the time such option is granted) for each calendar year in which such option is
outstanding at any time. 
 (e) No Rights as Shareholder. A Participant will have no interest or voting right in shares
covered by his or her option until such option has been exercised. 

  
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 8. Exercise of Options. 

(a) Automatic Exercise. A Participant’s option for the purchase of shares shall be exercised automatically on each Exercise
Date, and the maximum number of full shares subject to the option shall be purchased for the Participant at the applicable Exercise Price with the accumulated Plan Contributions then credited to the Participant’s account under the Plan. During
a Participant’s lifetime, a Participant’s option to purchase shares hereunder is exercisable only by the Participant. 

(b) Carryover of Excess Contributions. Any amount remaining to the credit of a Participant’s account after the purchase of
shares by the Participant on an Exercise Date, or which is insufficient to purchase a full share of Common Stock, shall remain in the Participant’s account, and be carried over to the next Exercise Period, unless the Participant withdraws from
participation in the Plan or elects to withdraw his or her account balance in accordance with Section 10(c). 
 9. Issuance
of Shares. 
 (a) Delivery of Shares. As promptly as practicable after each Exercise Date, the Company shall arrange for
the delivery to each Participant (or the Participant’s beneficiary), as appropriate, or to a custodial account held by a custodian appointed by the Company for the benefit of each Participant (or the Participant’s beneficiary) as
appropriate, of a certificate representing the shares purchased upon exercise of the Participant’s option or, at the Company’s option, through appropriate book entry procedures. 

(b) Registration of Shares. Shares to be delivered to a Participant under the Plan will be registered in the name of the
Participant or in the name of the Participant and his or her spouse, as requested by the Participant. 
 (c) Compliance with
Applicable Laws. The Plan, the grant and exercise of options to purchase shares under the Plan, and the Company’s obligation to sell and deliver shares upon the exercise of options to purchase shares shall be subject to compliance with all
applicable federal, state and foreign laws, rules and regulations and the requirements of any stock exchange on which the shares may then be listed. 
 (d) Withholding. The Company may make such provisions as it deems appropriate for withholding by the Company pursuant to federal or state tax laws of such amounts as the Company determines it is
required to withhold in connection with the purchase or sale by a Participant of any Common Stock acquired pursuant to the Plan. The Company may require a Participant to satisfy any relevant tax requirements before authorizing any issuance of Common
Stock to such Participant. 
 10. Participant Accounts. 

(a) Bookkeeping Accounts Maintained. Individual bookkeeping accounts will be maintained for each Participant in the Plan to
account for the balance of his Plan Contributions, options issued, and shares purchased under the Plan. However, all Plan Contributions made for a Participant shall be deposited in the Company’s general corporate accounts, and no interest shall
accrue or be credited with respect to a Participant’s Plan 

  
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Contributions. All Plan Contributions received or held by the Company may be used by the Company for any corporate purpose, and the Company shall not be obligated to segregate or otherwise set
apart such Plan Contributions from any other corporate funds. 
 (b) Participant Account Statements. Statements of
account will be given to Participants semi-annually in due course following each Exercise Date, which statements will set forth the amounts of payroll deductions, the per share purchase price, the number of shares purchased and the remaining cash
balance, if any. 
 (c) Withdrawal of Account Balance Following Exercise Date. A Participant may elect at any time within
the first thirty (30) days following any Exercise Period, or at such other time as the Committee may from time to time prescribe, to receive in cash any amounts carried-over in accordance with Section 8(b). An election under this
Section 10(c) shall not be treated as a withdrawal from participation in the Plan under Section 13(a). 
 11.
Designation of Beneficiary. 
 (a) Designation. A Participant may file a written designation of a beneficiary who is to
receive any shares and cash, if any, from the Participant’s account under the Plan in the event of the Participant’s death subsequent to an Exercise Date on which the Participant’s option hereunder is exercised but prior to delivery
to the Participant of such shares and cash. In addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the Participant’s account under the Plan in the event of the Participant’s death prior
to the exercise of the option. 
 (b) Change of Designation. A Participant’s beneficiary designation may be changed
by the Participant at any time by written notice. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company shall deliver
such shares and/or cash to the executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or
cash to the spouse or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 

12. Transferability. Neither Plan Contributions credited to a Participant’s account nor any rights to exercise any option or
receive shares of Common Stock under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will or the laws of descent and distribution, or as provided in Section 11). Any attempted assignment,
transfer, pledge or other distribution shall be without effect, except that the Company may treat such act as an election to withdraw in accordance with Section 13(a). 
 13. Withdrawal; Termination of Employment. 
 (a) Withdrawal. A Participant
may withdraw from the Plan at any time by giving written notice to the Company. Payroll deductions, if any have been authorized, shall cease as soon as administratively practicable after receipt of the Participant’s notice of

  
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withdrawal, and, subject to administrative practicability, no further purchases shall be made for the Participant’s account. All Plan Contributions credited to the Participant’s
account, if any, and not yet invested in Common Stock, will be paid to the Participant as soon as administratively practicable after receipt of the Participant’s notice of withdrawal. The Participant’s unexercised options to purchase
shares pursuant to the Plan automatically will be terminated. Payroll deductions will not resume on behalf of a Participant who has withdrawn from the Plan (a “Former Participant”) unless the Former Participant enrolls in a subsequent
Offering Period in accordance with Section 5(a) and subject to the restriction provided in Section 13(b), below. 

(b) Effect of Withdrawal on Subsequent Participation. A Former Participant who has withdrawn from the Plan pursuant to this
Section 13(b) shall not again be eligible to participate in the Plan prior to the beginning of the following Exercise Period that commences after the date the Former Participant withdrew, and the Former Participant must submit a new enrollment
agreement in order to again become a Participant as of that date. 
 (c) Termination of Employment. Upon termination of a
Participant’s Continuous Status as an Employee prior to any Exercise Date for any reason, including retirement or death, the Plan Contributions credited to the Participant’s account and not yet invested in Common Stock will be returned to
the Participant or, in the case of death, to the Participant’s beneficiary as determined pursuant to Section 11, and the Participant’s option to purchase shares under the Plan will automatically terminate. 

14. Common Stock Available under the Plan. 
 (a) Number of Shares. Subject to adjustment as provided in Section 14(b) below, the maximum number of shares of the Company’s Common Stock that shall be made available for sale under the
Plan shall be 2,000,000 shares, plus an automatic annual increase on the first day of each of the Company’s fiscal years beginning in 2012 and ending in 2021 equal to the lesser of (i) 750,000 shares, (ii) two percent of all shares of
Common Stock outstanding on the last day of the immediately preceding fiscal year, or (iii) a lesser amount determined by the Board. Shares of Common Stock subject to the Plan may be newly issued shares or shares reacquired in private
transactions or open market purchases. If and to the extent that any right to purchase reserved shares shall not be exercised by any Participant for any reason or if such right to purchase shall terminate as provided herein, shares that have not
been so purchased hereunder shall again become available for the purpose of the Plan unless the Plan shall have been terminated, but all shares sold under the Plan, regardless of source, shall be counted against the limitation set forth above.

 (b) Adjustments Upon Changes in Capitalization; Corporate Transactions. 

i. If the outstanding shares of Common Stock are increased or decreased, or are changed into or are exchanged for a different number or
kind of shares, as a result of one or more reorganizations, restructurings, recapitalizations, reclassifications, stock splits, reverse stock splits, stock dividends or the like, then the Committee shall, in such manner as it may deem equitable,
substitute, exchange or adjust any or all of the number and/or kind of shares, and the per-share option price thereof, which may be issued in the aggregate and to any Participant upon exercise of options granted under the Plan. 

  
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 ii. In the event of the proposed dissolution or liquidation of the Company, the Offering
Period will terminate immediately prior to the consummation of such proposed action, unless otherwise provided by the Committee. 
 iii. In the event of a proposed sale of all or substantially all of the Company’s assets, or the merger of the Company with or into another corporation (each, a “Sale Transaction”), each
option under the Plan shall be assumed or an equivalent option shall be substituted by such successor corporation or a parent or subsidiary of such successor corporation, unless the Committee determines, in the exercise of its sole discretion and in
lieu of such assumption or substitution, to shorten the Exercise Period then in progress by setting a new Exercise Date (the “New Exercise Date”). If the Committee shortens the Exercise Period then in progress in lieu of assumption or
substitution in the event of a Sale Transaction, the Committee shall notify each Participant in writing, at least ten (10) days prior to the New Exercise Date, that the exercise date for such Participant’s option has been changed to the
New Exercise Date and that such Participant’s option will be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Plan as provided in Section 13(a). For purposes of this
Section 14(b), an option granted under the Plan shall be deemed to have been assumed if, following the Sale Transaction, the option confers the right to purchase, for each share of Common Stock subject to the option immediately prior to the
Sale Transaction, the consideration (whether stock, cash or other securities or property) received in the Sale Transaction by holders of Common Stock for each share of Common Stock held on the effective date of the Sale Transaction (and if such
holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Common Stock); provided, that if the consideration received in the Sale Transaction was not solely common
stock of the successor corporation or its parent (as defined in Section 424(e) of the Code), the Committee may, with the consent of the successor corporation and the Participant, provide for the consideration to be received upon exercise of the
option to be solely common stock of the successor corporation or its parent equal in fair market value to the per share consideration received by the holders of Common Stock in the Sale Transaction. 

iv. In all cases, the Committee shall have sole discretion to exercise any of the powers and authority provided under this
Section 14, and the Committee’s actions hereunder shall be final and binding on all Participants. No fractional shares of Common Stock shall be issued under the Plan pursuant to any adjustment authorized under the provisions of this
Section 14. 
 15. Administration. 
 (a) Committee. The Plan shall be administered by the Committee. The Committee shall have the authority to interpret the Plan, to prescribe, amend and rescind rules and regulations relating to the
Plan, and to make all other determinations necessary or advisable for the administration of the Plan. The administration, interpretation, or application of the Plan by the Committee shall be final, conclusive and binding upon all persons.

 (b) Requirements of Exchange Act. Notwithstanding the provisions of Section 15(a) above, in the event that Rule
16b-3 promulgated under the Exchange Act or any successor 

  
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provision thereto (“Rule 16b-3”) provides specific requirements for the administrators of plans of this type, the Plan shall only be administered by such body and in such a manner as
shall comply with the applicable requirements of Rule 16b-3. Unless permitted by Rule 16b-3, no discretion concerning decisions regarding the Plan shall be afforded to any person that is not “disinterested” as that term is used in Rule
16b-3. 
 16. Amendment, Suspension, and Termination of the Plan. 

(a) Amendment of the Plan. The Board or the Committee may at any time, or from time to time, amend the Plan in any respect;
provided, that (i) no such amendment may make any change in any option theretofore granted which adversely affects the rights of any Participant and (ii) the Plan may not be amended in any way that will cause rights issued under the Plan
to fail to meet the requirements for employee stock purchase plans as defined in Section 423 of the Code or any successor thereto. To the extent necessary to comply with Rule 16b-3 under the Exchange Act, Section 423 of the Code, or any
other applicable law or regulation, the Company shall obtain shareholder approval of any such amendment. 
 (b) Suspension of
the Plan. The Board or the Committee may, as of the close of any Exercise Date, suspend the Plan; provided, that the Board or Committee provides notice to the Participants at least five business days prior to the suspension. The Board or
Committee may resume the normal operation of the Plan as of any Exercise Date; provided further, that the Board or Committee provides notice to the Participants at least 20 business days prior to the date of termination of the suspension period. A
Participant shall remain a Participant in the Plan during any suspension period (unless he or she withdraws pursuant to Section 13(a)), however no options shall be granted or exercised, and no payroll deductions shall be made in respect of any
Participant during the suspension period. Participants shall have the right to withdraw carryover funds provided in Section 10(c) throughout any suspension period. The Plan shall resume its normal operation upon termination of a suspension
period. 
 (c) Termination of the Plan. The Plan and all rights of Employees hereunder shall terminate on the earliest
of: 
 i. the Exercise Date that Participants become entitled to purchase a number of shares greater than the number of
reserved shares remaining available for purchase under the Plan; 
 ii. such date as is determined by the Board in its
discretion; or 
 iii. the last Exercise Date immediately preceding the tenth (10th) anniversary of the Plan’s
effective date. 
 In the event that the Plan terminates under circumstances described in Section 16(c)(i) above, reserved
shares remaining as of the termination date shall be sold to Participants on a pro rata basis, based on the relative value of their cash account balances in the Plan as of the termination date. 

  
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 17. Notices. All notices or other communications by a Participant to the Company
under or in connection with the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 

18. Expenses of the Plan. All costs and expenses incurred in administering the Plan shall be paid by the Company, except that any
stamp duties or transfer taxes applicable to participation in the Plan may be charged to the account of such Participant by the Company. 
 19. No Employment Rights. The Plan does not, directly or indirectly, create any right for the benefit of any employee or class of employees to purchase any shares under the Plan, or create in any
employee or class of employees any right with respect to continuation of employment by the Company or any Subsidiary, and it shall not be deemed to interfere in any way with the right of the Company or any Subsidiary to terminate, or otherwise
modify, an employee’s employment at any time. 
 20. Applicable Law. The internal laws of the State of Delaware
shall govern all matter relating to this Plan except to the extent (if any) superseded by the laws of the United States. 
 21.
Additional Restrictions of Rule 16b-3. The terms and conditions of options granted hereunder to, and the purchase of shares by, persons subject to Section 16 of the Exchange Act shall comply with the applicable provisions of Rule 16b-3.
This Plan shall be deemed to contain, and such options shall contain, and the shares issued upon exercise thereof shall be subject to, such additional conditions and restrictions as may be required by Rule 16b-3 to qualify for the maximum exemption
from Section 16 of the Exchange Act with respect to Plan transactions. 
 22. Effective Date. Subject to adoption of
the Plan by the Board, the Plan shall become effective on the First Offering Date. The Board shall submit the Plan to the shareholders of the Company for approval within twelve months after the date the Plan is adopted by the Board. 

  
 12Form of Share Exchange Agreement between Neptune Minerals, Inc.

 Exhibit 10.1 
 INSTRUCTIONS FOR EXECUTION AND 
 DELIVERY OF SHARE EXCHANGE AGREEMENT

 The following are instructions for shareholders of Dorado Ocean Resources Limited who desire to enter into the attached Share Exchange
Agreement: 
 1. The shareholder must sign and fill-in all blanks set forth on the “Counterpart Signature Page” to the Share Exchange
Agreement (page 10 of the Share Exchange Agreement). Two (2) copies of the Counterpart Signature Page should be signed and completed. 
 2. The shareholder must complete and sign the enclosed Confidential Investor Questionnaire. Only one signed copy is necessary. 
 3. The shareholder must deliver the following items to Foley & Lardner LLP to the address set forth below: 
  

			
	Items to be delivered:	  	 • Both originally signed copies of the Counterpart Signature Page

 
 • The originally signed copy of
the Confidential Investor Questionnaire
  
 • The original Dorado stock certificates for all shares held by you
  

• The signed Dorado shareholder resolution and waiver

 
 • An originally signed copy of the
Instrument of Transfer
  

• An originally signed copy of the Bought and Sold Note

		
	Address for delivery:	  	 Foley & Lardner LLP

100 North Tampa St., Suite 2700
 Tampa, Florida
33602 USA
 Attention: Robert Mace, Corporate Paralegal

If you intend to participate in the exchange offering, please scan your signed documents and email them to John Morris at
ajcm@neptuneminerals.com 

 SHARE EXCHANGE AGREEMENT 

THIS SHARE EXCHANGE AGREEMENT (“Agreement”) is made and entered into as of May 18, 2011, by and among Neptune Minerals,
Inc., a Nevada corporation (“Neptune”), and the persons or entities who have executed a counterpart signature page to this Agreement (each an “Exchanging Shareholder” and collectively the “Exchanging Shareholders”).

 W I T N E S S E T H: 
 WHEREAS, the Exchanging Shareholders are the record and beneficial owners of the ordinary shares of Dorado Ocean Resources Limited, a Hong Kong private limited company (“Dorado”), indicated next
to their respective names under Column (1) on Schedule A hereto (each, a “Dorado Share” and collectively the “Dorado Shares”). 
 WHEREAS, pursuant to and subject to the terms and conditions hereof, Neptune desires to issue to each Exchanging Shareholder the number of shares of Class B $.0001 par value non-voting common capital
stock of Neptune (each a “Neptune B Share” and collectively the “Neptune B Shares”) set forth next to the Exchanging Shareholder’s name in Column (2) on Schedule A hereto in exchange for the Dorado Shares held by
each such Exchanging Shareholder. 
 NOW, THEREFORE, in consideration of the premises, which shall be deemed an integral part of
this Agreement and not as mere recitals hereto, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

1. Share Exchange. Each Exchanging Shareholder, severally and not jointly, hereby agrees to sell to Neptune all of the Dorado
Shares shown next to the Exchanging Shareholder’s name in column (1) of Schedule A for and in consideration of the issuance and transfer to the Exchanging Shareholder of the number of Neptune B Shares set forth next to such
Exchanging Shareholder’s name in column (2) on Schedule A attached hereto. 
 2. Closing. The closing
(the “Closing”, and the term “Close” shall be construed accordingly) of the transactions contemplated herein shall take place at the offices of Foley & Lardner LLP, 100 North Tampa St., Suite 2700, Tampa, Florida 33629
(“Closing Agent”) and shall take place as soon as reasonably practicable following the last to be satisfied or waived of all conditions described in Section 5 hereof. If Closing and completion of the transactions contemplated by this
Agreement does not occur on or before May 27, 2011 (the “Termination Date”), this Agreement shall be null and void, and no party shall be deemed to have any rights or obligations hereunder; provided, however, that
Neptune may, in its sole discretion, extend the Termination Date to a date no later than July 15, 2011 upon written notice to the Exchanging Shareholders. At the Closing, Neptune shall cause to be delivered to each Exchanging Shareholder
certificates representing the relevant number of Neptune B Shares as set out in column (2) on Schedule A. The parties acknowledge that Foley & Lardner LLP is legal counsel to Neptune and hereby consent to Foley &
Lardner LLP acting as Closing Agent hereunder. 
 3. Representations and Warranties of Exchanging Shareholders. Each
Exchanging Shareholder hereby represents and warrants, severally not jointly, to Neptune as follows: 
 3.1 Right, Power and
Authority; Authorization. The execution and delivery of this Agreement by the Exchanging Shareholder and the consummation by it of the transactions contemplated hereunder have been duly authorized by all necessary action on the part of the
Exchanging Shareholder, and no further consent or action is required by the Exchanging Shareholder, or its shareholders, members, 

 
partners, officers, directors, managers, employees or agents. The Exchanging Shareholder has the absolute and unrestricted right, power, authority, and capacity to enter into this Agreement and
to transfer the Exchanging Shareholder’s Dorado Shares to Neptune in accordance with the terms of this Agreement, and to otherwise consummate the transactions contemplated by this Agreement. This Agreement has been duly executed by the
Exchanging Shareholder and constitutes the valid and binding obligation of the Exchanging Shareholder, enforceable against the Exchanging Shareholder in accordance with its terms. In addition, the Exchanging Shareholder is not a party to any voting
agreement, shareholders agreement, or any other document or agreement regarding the management or ownership of Dorado, the transfer of the Exchanging Shareholder’s Dorado Shares or otherwise restricting any rights with respect to the Exchanging
Shareholder’s Dorado Shares. The Exchanging Shareholder has not created any interest or equity (including any right to acquire, option or right of pre-emption) or any mortgage, charge, pledge, lien, assignment, hypothecation, security, title,
retention or any other security agreement or arrangement in respect of any of the Dorado Shares set forth opposite their respective names in column (1) on Schedule A. 
 3.2 No Breach or Conflicts. 
 (a) The Exchanging Shareholder’s
execution, delivery, and performance of this Agreement and its consummation of the transactions contemplated hereby will not (i) conflict with or result in a violation of, the Exchanging Shareholder’s organizational documentation, if an
entity, or (ii) violate or conflict with, or result in a breach of, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or result in the creation or imposition of any lien, charge or
encumbrance upon any property or assets of the Exchanging Shareholder, or require the consent of any other party to, any indenture, mortgage, loan or credit agreement, deed of trust, note, contract, franchise, lease or other agreement, obligation,
condition, covenant or instrument (all whether written or oral) to which it is a party or by which it may be bound or to which any of its property or assets is subject. 
 (b) The Exchanging Shareholder is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other governmental
authority or other person or entity in connection with the execution, delivery and performance by the Exchanging Shareholder of this Agreement. 
 3.3 Valid Title. The Exchanging Shareholder has and will transfer to Neptune in accordance with the terms of this Agreement, good, valid and marketable title to the number of Dorado Shares set
forth beside his/her/its name on column (1) of Schedule A attached hereto, free and clear of any and all security interests, pledges, claims, liens, encumbrances or other rights of any other person or entity. Other than the Dorado Shares
indicated on Schedule A next to the Exchanging Shareholder’s name, the Exchanging Shareholder owns (either of record or beneficially) no other shares or other equity interests of any type in Dorado or its subsidiaries and has no options,
warrants, or rights to purchase or acquire shares or other equity interests or securities of Dorado or its subsidiaries. 
 3.4
Investment Representation. Each Exchanging Shareholder hereby makes the following representations, warranties and covenants to Neptune: 
 (a) The Exchanging Shareholder, both alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the
merits and risks of the prospective investment in the Neptune B Shares, and has so evaluated the merits and risks of such investment. The Exchanging Shareholder is able to bear the economic risk of an investment in the Neptune B Shares for an
indefinite period of time and, at the present time, is able to afford a complete loss of such investment. The Exchanging Shareholder further acknowledges that the Neptune B Shares have not been registered under the Securities Act of 1933, as amended
(the “Securities Act”), and Neptune does not intend to so register the Neptune B Shares. 

  
 2 

 
Therefore, the Exchanging Shareholder understands and acknowledges that the Neptune B Shares must be held by the Exchanging Shareholder indefinitely or sold pursuant to restrictions which may
limit the price which the Exchanging Shareholder receives from a disposition of the Neptune B Shares. If other than an individual, the Exchanging Shareholder also represents it has not been organized for the purpose of acquiring the Neptune B
Shares. 
 (b) The Exchanging Shareholder believes it has received all the information it considers necessary or appropriate
for deciding whether to acquire the Neptune B Shares and acknowledges it has received and thoroughly reviewed the Confidential Information Summary of Neptune, dated May 18, 2011, relating to the transactions contemplated hereby (the
“Summary”), which includes a description of various investment risk factors (the “Investment Risk Factors”). In addition, the Exchanging Shareholder represents and warrants that Neptune has made available for inspection by the
Exchanging Shareholder various documents connected with Neptune’s business and has not refused in any way to permit the Exchanging Shareholder to inspect any document requested to be inspected by such Exchanging Shareholder. The Exchanging
Shareholder further represents that it has had an opportunity to ask questions and receive satisfactory answers from representatives of Neptune, regarding the terms and conditions of this exchange, the Neptune B Shares, the Summary, the Investment
Risk Factors, the present and anticipated future financial condition of Neptune, and the present and anticipated business, properties, prospects and financial condition of Neptune. 

(c) The Exchanging Shareholder is acquiring the Neptune B Shares for its own account and not as a nominee or agent for any other person,
and with a view toward investment therein and not to the distribution of all or any part thereof, and such Exchanging Shareholder has no present intention of selling, granting any participation in, or otherwise distributing the Neptune B Shares to
be received hereunder. By executing this Agreement, such Exchanging Shareholder further represents to Neptune that such Exchanging Shareholder does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or
grant participations to any such person or to any third person, with respect to any of the Neptune B Shares. 
 (d) The
Exchanging Shareholder understands that nothing in this Agreement or any other materials presented by or on behalf of Neptune to the Exchanging Shareholder in connection with the purchase and sale of the Neptune B Shares constitutes legal, tax, or
investment advice. The Exchanging Shareholder has consulted such legal, tax, and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its acquisition of the Neptune B Shares. The Exchanging
Shareholders shall timely pay all of their respective tax liabilities relating to the transactions contemplated hereby (including without limitation any income tax liabilities on the gain on the sale of the Dorado Shares hereunder) and shall
indemnify Neptune from and against any and all liability or claims arising from any failure of any Exchanging Shareholder to timely satisfy such tax liabilities. 
 (e) The Exchanging Shareholder acknowledges that no offer by the Exchanging Shareholder to acquire the Neptune B Shares hereunder will be accepted until Neptune has accepted such offer by countersigning a
copy of this Agreement, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to Neptune sending, in writing or by electronic mail, notice of its acceptance of such offer. 

(f) If the Exchanging Shareholder is not a United States person, the Exchanging Shareholder hereby represents that he/she/it has
satisfied himself/herself/itself as to the full observance of the laws of his/her/its jurisdiction in connection with any invitation to acquire the Neptune B Shares hereunder, including (a) the legal requirements within his/her/its jurisdiction
of residence for the purchase of the Neptune B Shares, (b) any foreign exchange restrictions applicable to such purchase, (c) any governmental or other consents that may need to be obtained, and (d) the income tax and other tax

  
 3 

 
consequences to the Exchanging Shareholder, if any, that may be relevant to the purchase, holding, redemption, sale, or transfer of the Neptune B Shares. The Exchanging Shareholder further
warrants to Neptune that the Exchanging Shareholder’s acquisition of, and its continued beneficial ownership of the Neptune B Shares, will not violate any applicable securities or other laws of his/her/its jurisdiction of residence. 

(g) The Exchanging Shareholder agrees not to dispose of the Neptune B Shares or any interest therein, or to offer, sell, pledge,
hypothecate or otherwise transfer or dispose of any of the Neptune B Shares or any interest therein, unless, (i) a registration statement under the Securities Act with respect to such Neptune B Shares shall then be in effect, and such transfer
has been qualified under all applicable state securities laws, or (ii) the availability of exemption from such registration and qualification shall be established to the satisfaction of counsel to Neptune (who may require a written opinion of
counsel for such Exchanging Shareholder to that effect prior to allowing any such hypothecation, disposal or transfer of the Neptune B Shares). 
 (h) The Exchanging Shareholder acknowledges and understands that the offer and sale of the Neptune B Shares are not being registered under the Securities Act in reliance on the “private
offering” exemption provided by Section 4(2) of the Securities Act and/or Regulation D or Regulation S promulgated pursuant to the US Securities Act, and that Neptune is basing its reliance upon that exemption and in part on the
representations, warranties, statements and agreements contained herein and those of the other Exchanging Shareholders in similar purchase agreements. 
 (i) The Exchanging Shareholder acknowledges and understands that Neptune has no present intention of effecting a registration of the Neptune B Shares under either the Securities Act or the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). The Exchanging Shareholder further, acknowledges that such Exchanging Shareholder understands and agrees that Neptune has no obligation to register the Neptune B Shares under the
Securities Act or the Exchange Act. The Exchanging Shareholder further understands that a stop-transfer order will be placed on the transfer books of Neptune respecting the certificates evidencing the Neptune B Shares and such certificates shall
bear, until such time as the Neptune B Shares shall have been registered under the Securities Act or shall have been transferred in accordance with such an opinion of counsel as is reasonably satisfactory to counsel for Neptune, the following legend
or one substantially similar thereto: 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT, OR AN AVAILABLE EXEMPTION THEREUNDER, OR AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 
 3.5 Transaction Documentation. The Exchanging
Shareholder acknowledges that this Agreement and all of the documents referred to herein and/or to be executed and delivered at, or in conjunction with, the Closing, have been prepared by Neptune, but further acknowledges that such Exchanging
Shareholder has been given the opportunity and encouraged to have this Agreement and all such documents reviewed by counsel of such Exchanging Shareholder’s choice on such Exchanging Shareholder’s behalf. 

3.7 Agents or Brokers. The Exchanging Shareholder has taken no action which would give rise to any claim by any person or entity
for finder’s fees, brokerage or other commissions relating to this Agreement or the transactions contemplated hereby, and such Exchanging Shareholder will 

  
 4 

 
indemnify and hold harmless Neptune (and all of its shareholders, officers, directors and agents) from and against any claims for any such fee as a result of any agreement or understanding
between any of them and any third party. 
 3.8 Residence. If the Exchanging Shareholder is an individual, the Exchanging
Shareholder is a bona-fide resident of the state or country set forth in the address provided on the Exchanging Shareholder’s Counterpart Signature Page to this Agreement. If the Exchanging Shareholder is an entity, the Exchanging
Shareholder’s primary place of business is the address provided on the Exchanging Shareholder’s Counterpart Signature Page to this Agreement. 
 4. Representations and Warranties of Neptune. Neptune hereby makes the following representations, warranties and covenants to the Exchanging Shareholders: 

4.1 Neptune has been duly organized and validly exists as a corporation with active status under the laws of the State of Nevada, with
all requisite power and authority to conduct its business. 
 4.2 Neptune has the requisite corporate power and authority to
execute, deliver, and perform its obligations under this Agreement. The execution and delivery of this Agreement by Neptune and the consummation by it of the transactions contemplated hereunder have been duly authorized by all necessary action on
the part of Neptune, and no further consent or action is required by Neptune, its board of directors, or its stockholders. This Agreement, once executed by Neptune and, when delivered in accordance with the terms hereof, will constitute the valid
and binding obligation of Neptune, enforceable against Neptune in accordance with its terms. 
 4.3 Neptune’s execution,
delivery, and performance of this Agreement and its consummation of the transactions contemplated hereby will not (i) conflict with or result in a violation of, the Neptune Articles of Incorporation or Bylaws, or (ii) violate or conflict
with, or result in a breach of, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or result in the creation or imposition of any lien, charge or encumbrance upon any material property or
assets of Neptune pursuant to, or require the consent of any other party to, any material indenture, mortgage, loan or credit agreement, deed of trust, note, contract, franchise, lease or other agreement, obligation, condition, covenant or
instrument to which it is a party or by which it may be bound or to which any of its property or assets is subject. 
 4.4 The
Neptune B Shares have been duly authorized and, when issued, delivered and paid for in accordance with the terms hereof, will be validly issued, fully paid, and non-assessable and will not be sold in violation of statutory or contractual preemptive
rights, resale rights, rights of first refusal, or similar rights. 
 5. Conditions Precedent to the Obligations of
Neptune. The obligation of Neptune to consummate the transactions contemplated by this Agreement is subject to the satisfaction or written waiver of the following conditions on or before the Closing: 

(a) the representations and warranties set forth in Article 3 hereof shall be true and correct at and as of the Closing as though then
made and as though the Closing date was substituted for the date of this Agreement throughout such representations and warranties; 
 (b) the board of directors of Neptune shall have approved the transactions contemplated by this Agreement; 

  
 5 

 (c) the Articles of Association of Dorado shall have been amended or waived in a manner
reasonably acceptable to Neptune; and 
 (d) all Exchanging Shareholders shall have performed all of the covenants and
agreements required to be performed by them under this Agreement prior to the Closing in a manner reasonable acceptable to Neptune. 
 6. Nature of Obligations; Release. 
 6.1 Nature of Obligations. Once
this Agreement has been executed by a Exchanging Shareholder, the Exchanging Shareholder expressly understands and agrees that its agreement to exchange its Dorado Shares for Neptune B Shares as described herein and to fulfill its other obligations
pursuant to this Agreement is irrevocable until the Termination Date. The Exchanging Shareholders further acknowledge that Neptune shall not be obligated to complete the transactions set forth herein until Neptune has formally accepted the offers
made by each of the Exchanging Shareholders hereunder by means of the execution and return of copies of this Agreement to such Exchanging Shareholders, and Neptune reserves the right, in its sole discretion to reject any offer of any Exchanging
Shareholder without further obligation. Once offers of Exchanging Shareholders have been accepted by Neptune, the consummation of the transactions contemplated herein shall remain subject to the conditions precedent set forth in Section 5
hereof unless waived in writing by Neptune. The Exchanging Shareholders acknowledge that the transactions contemplated hereby may be effected by Neptune after accepted the offers made hereunder by each of the Exchanging Shareholders even if not all
of the holders of Dorado Shares have entered into this Agreement. 
 6.2 Release. The Exchanging Shareholder hereby
absolutely and unconditionally releases and forever discharges Dorado, Neptune, and any and all of their respective parent companies, subsidiary companies, affiliate companies, successors and assigns thereof, together with all of the present and
former directors, officers, agents and employees of any of the foregoing, from any and all claims, demands or causes of action of any kind, nature or description, whether arising in law or equity or upon contract or tort or under any state or
federal law or otherwise, which the Exchanging Shareholder has had, now has or has made claim to have against any such person for or by reason of any act, omission, matter, cause or thing whatsoever arising from the beginning of time to and
including the date of this Agreement, whether such claims, demands and causes of action are matured or unmatured or known or unknown. It is the intention of the Exchanging Shareholder in providing this release that the same shall be effective as a
bar to each and every claim, demand and cause of action specified, and in furtherance of this intention it waives and relinquishes all rights and benefits under any statute, regulation, or law which provides substantially the following: 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF
EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MIGHT HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 

Exchanging Shareholder acknowledges that it may hereafter discover facts different from or in addition to those now known or believed to
be true with respect to such claims, demands, or causes of action and agree that this release shall be and remain effective in all respects notwithstanding any such differences or additional facts. Exchanging Shareholder understands, acknowledges
and agrees that the release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the
provisions of such release. Notwithstanding anything herein to the contrary, nothing in the foregoing release will release Neptune from any obligations that it may have to Exchanging Shareholder under the terms of this Agreement. 

  
 6 

 7. Notices. If any notices, consents, approvals, or waivers are to be given by any
party to this Agreement by any other party or parties to this Agreement, such notices, consents, approvals, or waivers shall be in writing, and shall be properly addressed to the party to whom such notice is directed, and shall be either actually
hand delivered to such party or sent by internationally recognized courier (e.g. DHL) for priority delivery. Notices to Neptune shall be addressed to Neptune as follows, while notices to the Exchanging Shareholders shall be addressed to their
respective addresses set forth on their respective Counterpart Signature Page hereto: 
  

			
	If to Neptune:	  	Neptune Minerals, Inc.
		  	5858 Central Ave
		  	St. Petersburg, FL 33707
		  	USA
		  	Attn: John C. Morris
		  	jcm@jcmconsulting.org

 8. Waiver of
Breach. The waiver by any party of a breach of any covenant, agreement, or provision contained in this Agreement by any other party shall not be construed as a waiver of the covenant, agreement, or provision itself or any subsequent breach of
that covenant, agreement, or provision or any other covenant, agreement, or provision contained in this Agreement. 
 9.
Miscellaneous. 
 9.1 Entire Agreement. This Agreement, including all exhibits and schedules referenced herein and
attached hereto, constitutes the entire agreement between the parties hereto pertaining to the subject matters hereof, and supersedes all negotiations, preliminary agreements, and all prior and contemporaneous discussions and understandings of the
parties in connection with the subject matters hereof. Except as otherwise provided herein, no covenant, representation, or condition not expressed in this Agreement, or in an amendment hereto made and executed in accordance with Section 9.2,
shall be binding upon the parties hereto or shall affect or be effective to interpret, change or restrict the provisions of this Agreement. 
 9.2 No Amendments or Waivers. No change, modification, or termination of any of the terms, provisions, or conditions of this Agreement shall be effective unless made in writing and signed or
initialed by all parties hereto, their successors or assigns. No waiver of any provision of this Agreement shall be effective unless it is in writing and signed by the party against whom it is asserted, and any such written waiver shall only be
applicable to the specific instance to which it relates and shall not be deemed to be a continuing or future waiver. 
 9.3
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida (United States of America). Exclusive venue for any legal action hereunder shall be in Hillsborough County, Florida, USA.
Each of the parties hereby consents to the jurisdiction of the state courts located in Hillsborough County, Florida, USA and the federal courts located in the Middle District of Florida, USA, Tampa Division, and waives any right to asset that such
venue is an inconvenient forum. Each of the parties hereto hereby further consents to process being served by any party to this Agreement in any suit, action or proceeding by delivery of a copy thereof in accordance with the notice provisions of
Section 7 of this Agreement. 

  
 7 

 9.4 Severability. If any paragraph, subparagraph, or other provision of this
Agreement, or the application of such paragraph, subparagraph, or provision, is held invalid, then the remainder of this Agreement, and the application of such paragraph, subparagraph, or provision to persons or circumstances other than those with
respect to which it is held invalid, shall not be affected thereby. 
 9.5 Construction. The titles or captions of
paragraphs and subparagraphs contained in this Agreement are provided for convenience of reference only, and shall not be considered a part hereof for purposes of interpreting or applying this Agreement, and, therefore, such titles or captions do
not define, limit, extend, explain, or describe the scope or extent of this Agreement or any of its terms, provisions, representations, warranties, conditions, etc., in any manner or way whatsoever. All pronouns and variations thereof shall be
deemed to refer to the masculine, feminine, or neuter, and to the singular or plural, as the identity of the person or entity or persons or entities may require. It is acknowledged that each party had the opportunity to be represented by legal
counsel in the preparation of this Agreement, and accordingly every covenant, term and provision of this Agreement shall be construed simply according to its fair meaning and not strictly for or against any party hereto. This Agreement shall not be
construed against any party by virtue of a party being deemed the Agreement’s drafter. 
 9.6 Further Assurances.
The parties hereto will execute and deliver such further instruments and do such further acts and things as may be reasonably required to carry out the intent and purposes of this Agreement. 

9.7 Binding Effect and Non-Assignability. This Agreement shall be binding upon and shall inure to the benefit of the parties
hereto. This Agreement shall not be assignable without the mutual consent of the parties hereto. 
 9.8 Continuance of
Agreement. The rights, responsibilities, duties, representations, and warranties of the parties hereto, and the covenants and agreements herein contained, shall survive any closing and the execution hereof, and shall continue to bind the parties
hereto, and shall continue in full force and effect until each and every obligation of the parties hereto pursuant to this Agreement and any document or agreement incorporated herein by reference shall have been fully performed. 

9.9 Counterparts. This Agreement may be exercised in any number of counterparts, each of which shall be deemed an original but all
of which together shall constitute one and the same instrument, ad in making proof hereof it shall not be necessary to produce or account for more than one such counterpart. The parties agree that this Agreement may be executed by each party signing
one original and providing a facsimile (fax) or scanned copy of the signature page to the other party, provided that each party agrees to make its document with the original signature available to the other party upon request, and further provided
that the parties agree that the fax signature shall be treated as if it were an original signature, and neither party shall contest the validity of this Agreement based on the use of fax or scanned signatures. 

[SIGNATURE PAGES FOLLOW] 

  
 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the day and year first above written. 
  

					
		 	NEPTUNE MINERALS, INC.
			
		 	By:	 	/s/ John Morris
	Executed on June 3, 2011	 		 	John Morris, Chief Executive Officer

[signatures continue on following pages] 

  
 9 

 COUNTERPART SIGNATURE PAGE 

OF EXCHANGING SHAREHOLDER TO 
 SHARE EXCHANGE AGREEMENT 
 The undersigned hereby executes this Share Exchange Agreement as
an “Exchanging Shareholder” hereunder. This Agreement shall be effective as of the date set forth above in the first paragraph of this Agreement regardless of when the undersigned executes the same. 

 

					
	Name of Exchanging Shareholder:	 	 Odyssey Marine Exploration
	 	

					
			
	Signature of Exchanging Shareholder:	 	 /s/ Greg Stemm
	 	

					
			
	Title (if Exchanging Shareholder is an entity):	 	 CEO
	 	

					
			
	Date of Signature:	 	May 23, 2011	 	

					
			
	Address:	  	  
	  	

					
		
	  
	  	
		
	  
	  	
			
	Telephone Number:	 	  
	  	
			
	Facsimile Number:	 	  
	  	
			
	E-Mail Address:	 	  
	  	

  
 10

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