Odyssey Marine approves executive bonus plan tied to ExO NAFTA arbitration outcome

ODYSSEY MARINE EXPLORATION INC

Compensation Committee approved 2024 plan for CEO and named executives with one-time cash bonuses.
Bonuses payable only if NAFTA arbitration or settlement yields gross award sufficient to cover litigation debt and Odyssey receives at least $7M cash post-July 1, 2024.
Bonus pool ranges from 0.25% to 1.00% of gross award or settlement, paid pro rata among eligible executives.
If bonus exceeds 200% of base salary, half is deferred until one year after first payment.
Plan replaces traditional cash annual incentive for 2024, citing executive dedication to ExO matter.

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