Smitty WerbenJagerManJensen

Mr. Krabs, using a fake ghost, tells SpongeBob that a man named "Smitty WerbenJagerManJensen" was #1. He also said that SpongeBob's soda-drinking hat is his and that he has to return it to him immediately, so SpongeBob buries it with this fish, apparently forgetting the "Jager."

Mr. Krabs tries to get the hat out of Smitty's grave in order to sell it for a large amount of money, possibly $1,000,000. However, Smitty is actually an undead being and orders for his hat back but Mr. Krabs refuses. Smitty then summons a whole army of undead fish. Mr. Krabs believes that they would take turns feasting on his insides, then eat his brain and leave his body for the buzzards. Smitty, however, finds that concept to be disgusting and just wants the hat back. He then gives Mr. Krabs two options: give the hat back or suffer an attack from the army of the living dead.

The skeletons attack Mr. Krabs, who defeats them all with a makeshift sword out of a swordfish's skull. Smitty is eventually killed by Mr. Krabs (even though he is already dead). Mr. Krabs then tries to sell it to four people for $1,000,000. The hat, however, lost its value and nobody would buy it. They then laugh at him for thinking it would still be worth $1,000,000.