Common use of Section 2(a) Clause in Contracts

Section 2(a). Section 2(a) of the Promissory Note is hereby amended by deleting it in its entirety and inserting the following in lieu thereof: (a) Unless otherwise converted as provided herein, the Adjusted Principal Balance shall be due and payable in full upon written demand by the Lender; provided that the Lender agrees that it shall not demand payment of the Adjusted Principal Balance earlier than the first to occur of: (i) 30 days after the date on which (x) SEMARNAT makes a determination with respect to the current application for the Manifestacion de Impacto Ambiental relating to the Don Diego Project, which determination is other than an approval or (y) the Company or any of its affiliates withdraws such application without the Lender’s prior written consent; (ii) termination by Odyssey Marine Exploration, Inc. of the Stock Purchase Agreement; (iii) the occurrence of an Event of Default; (iv) March 30, 2016; or (v) if and only if the Investor shall have terminated the Stock Purchase Agreement pursuant to Section 8.1(d)(iii) thereof, March 30, 2016 (the date of such demand being the “Maturity Date”).”

Section 2(a). Section 2(a) of the Promissory Note is hereby amended by deleting it in its entirety and inserting the following in lieu thereof: (a) Unless otherwise converted as provided herein, the Adjusted Principal Balance shall be due and payable in full upon written demand by the Lender; provided that the Lender agrees that it shall not demand payment of the Adjusted Principal Balance earlier than the first to occur of: (i) 30 days after the date on which (x) SEMARNAT makes a determination with respect to the current application for the Manifestacion de Impacto Ambiental relating to the Don Diego Project, which determination is other than an approval or (y) the Company or any of its affiliates withdraws such application without the Lender’s prior written consent; (ii) termination by Odyssey Marine Exploration, Inc. of the Stock Purchase Agreement; (iii) the occurrence of an Event of Default; (iv) March 30December 31, 20162015; or (v) if and only if the Investor shall have terminated the Stock Purchase Agreement pursuant to Section 8.1(d)(iii) thereof, March 30, 2016 (the date of such demand being the “Maturity Date”).”