- Indiana runs into his house, past his giant dog, and into his dad's office, stoked to show his old man what he found. His dad tells him it can wait and orders him to start counting in Greek. Indiana obliges, but he's not happy about it.
- When he spots Scaredy Scout pulling up in a car with two guys, Indiana backs out of the room. His dad doesn't notice: he's too busy copying a painting of a knight into his journal.
- Scaredy Scout walks into the house and proudly tells Indiana that he brought the sheriff. So that's who that guy is.
- Indiana shows the sheriff the Cross of Coronado, and the sheriff says, "Cool, thanks. That belongs to this guy," and hands it over to—surprise—Fedora.
- Fedora then hands the cross over to one of his minions, who then runs outside and hands it over to a dapper dude in a white suit and a Panama hat who's standing beside the jalopy they rolled up in. Indiana seethes.
- Everybody files back out of the house. Before he leaves, Fedora tells Indiana that he lost today, but he doesn't have to like it. Then he puts his fedora on Indiana's bowed head. That explains where his trademark hat comes from, we guess.
- When Indiana raises his head, it's the Indiana Jones we were expecting, which is to say it's grown-up Indiana. He's on a boat, at night, and it's pouring. He smiles and then promptly gets punched in the face.
- A super tells us that we're on the Portuguese Coast, and it's 1938.
- A familiar-looking dapper dude in a white suit and Panama hat emerges from inside the boat and joins Indiana on the stormy deck. Indiana's not happy to see him.
- Panama Hat reaches into Indiana's satchel and pulls out the Cross of Coronado. "This is the second time I've had to reclaim my property from you," Panama Hat tells Indiana. We don't want to tell anybody their business, but maybe he should buy a lockbox or something. Just sayin'.
- Indiana tells Panama Hat that the cross belongs in a museum. Call back.
- Panama Hat tells Indiana that he belongs in a museum, too. Sick burn. Then he orders his watery goons to throw Indiana over the side of the boat.
- Indiana throws down with Panama Hat's goons. The Cross of Coronado gets dropped in the struggle and slides around the deck as the boat pitches back and forth, bombarded with monstrous waves.
- Just as the cross is about to slide overboard, Indiana grabs it. He punches even more goons, grabs on to a cargo hook, and swings himself over the side of the ship and into the choppy black water as Panama Hat looks on.
- An oil barrel gets tipped over, and the ship explodes.
- As Indiana clings to a life preserver, the Panama hat floats by.
- We think it's safe to say that these two won't cross paths a third time.