SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of the
Securities Exchange Act of 1934
November 10, 2005
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Date of Report (date of earliest event reported)
Odyssey Marine Exploration, Inc.
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Exact name of Registrant as Specified in its Charter
Nevada 1-31895 84-1018684
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State or Other Jurisdiction Commission File IRS Employer Identification
of Incorporation Number Number
5215 West Laurel Street, Tampa, Florida 33069
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Address of Principal Executive Offices, Including Zip Code
(813) 876-1776
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Registrant's Telephone Number, Including Area Code
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.
On November 10, 2005, the Board of Directors Odyssey Marine Exploration,
Inc. (the "Company") appointed Michael V. Barton as Interim Chief Executive
Officer of the Company. Also on November 10, 2005, John C. Morris temporarily
left his position as Chief Executive Officer to recover from a series of
medical treatments for a tumor in his neck. Mr. Morris will continue to serve
as a Director and Chairman of the Board of the Company. Mr. Morris expects to
be able to resume serving as CEO in several months.
Mr. Barton served as Odyssey's Chief Financial Officer from May 2002
until May 2004. Since that time, he served as Managing Director of Intrust
Advisors, LLC, and President of the Tampa Bay Estate Planning Council. From
1995 to May 2002 he was Vice President of the Wealth Management Group for
First Union National Bank where he assisted high net worth clients with estate
and business succession planning, investment strategies, and tax planning.
Prior to that, Mr. Barton worked in the mutual fund industry as a Senior
Compliance Officer and in public accounting. Mr. Barton received a B.S. in
Business Administration and Master of Accountancy degrees from the University
of South Florida. He is 45 years old.
Mr. Barton will receive an annualized salary of $240,000 during his term
as Interim CEO, which is expected to last no more than six months. It is also
expected that the Board of Directors will consider granting him an incentive
bonus package based on a recommendation by the Company's Compensation
Committee. However, the terms of such an incentive bonus package have not been
determined.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, hereunto duly authorized.
ODYSSEY MARINE EXPLORATION, INC.
Dated: November 10, 2005 By: /s/ Michael J. Holmes
Michael J. Holmes, Chief Financial
Officer