Document:

EXHIBIT 10.3

 

INDEMNIFICATION
AGREEMENT

 

THIS
INDEMNIFICATION AGREEMENT (the “Agreement”) is made and entered into as of July 15, 2016 by and among Wizard
World, Inc., a Delaware corporation (the “Company”), and Mr. John D. Maatta (“Indemnitee”).

 

WITNESSETH
THAT:

 

WHEREAS,
highly competent persons have become more reluctant to serve corporations as directors, officers or in other capacities unless
they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and
actions against them arising out of their service to and activities on behalf of the corporation;

 

WHEREAS,
the Board of Directors of the Company (the “Board”) has determined that, in order to attract and retain qualified
individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons
serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary
and widespread practice among United States-based corporations and other business enterprises, the Company believes that, given
current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more
exclusions. At the same time, directors, officers, and other persons in service to corporations or business enterprises are being
increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally
would have been brought only against the Company or business enterprise itself. The certificate of incorporation and the bylaws
of the Company require indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification
pursuant to Section 145 of the General Corporation Law of the State of Delaware (“GCL”). The certificate of incorporation
and the GCL expressly provide that the indemnification provisions set forth therein are not intended to be exclusive, and thereby
contemplate that contracts may be entered into between the Company and members of the Board, officers and other persons with respect
to indemnification;

 

WHEREAS,
the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining
such persons;

 

WHEREAS,
the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
of the Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty
of such protection in the future;

 

WHEREAS,
it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses
on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the
Company free from undue concern that they will not be so indemnified;

 

WHEREAS,
this Agreement is a supplement to and in furtherance of the certificate of incorporation and the bylaws of the Company and any
resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of
Indemnitee thereunder; and

 

    	 	 	 

    	 

    

 

WHEREAS,
Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company as an officer
on the condition that Indemnitee be further indemnified.

 

NOW,
THEREFORE, in consideration of Indemnitee’s agreement to serve as an officer after the date hereof, the parties hereto agree
as follows:

 

1.Indemnity
of Indemnitee. The Company hereby agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted by law,
as such may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality
thereof:

 

(a)Proceedings
Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided
in this Section l(a) if, by reason of his Corporate Status (as hereinafter defined), the Indemnitee is, or is threatened
to be made, a party to or participant in any Proceeding (as hereinafter defined) other than a Proceeding by or in the right of
the Company. Pursuant to this Section 1(a), Indemnitee shall be indemnified against all Expenses (as hereinafter defined),
judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by him, or on his behalf, in connection
with such Proceeding or any claim, issue or matter therein, if the Indemnitee acted in good faith and in a manner the Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company, and with respect to any criminal Proceeding,
had no reasonable cause to believe the Indemnitee’s conduct was unlawful.

 

(b)Proceedings
by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section
1(b) if, by reason of his Corporate Status, the Indemnitee is, or is threatened to be made, a party to or participant in any
Proceeding brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee shall be indemnified against
all Expenses actually and reasonably incurred by the Indemnitee, or on the Indemnitee’s behalf, in connection with such
Proceeding if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to
the best interests of the Company; provided, however, if applicable law so provides, no indemnification against such Expenses
shall be made in respect of any claim, issue or matter in such Proceeding as to which Indemnitee shall have been adjudged to be
liable to the Company with respect to the matter claimed for indemnification unless and to the extent that any court of the State
of New York or the court in which such action or suit was brought shall determine that such indemnification may be made.

 

(c)Indemnification
for Expenses of a Party Who is Successful on the Merits or Otherwise. Notwithstanding and in addition to any other provision
of this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a party to and is successful, on the merits
or otherwise, in any Proceeding, he shall be indemnified to the maximum extent permitted by law, as such may be amended from time
to time, against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee
is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all
claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably
incurred by him or on his behalf in connection with each successfully resolved claim, issue or matter. For purposes of this Section
and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
shall be deemed to be a successful result as to such claim, issue or matter.

 

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2.Additional
Indemnity. In addition to, and without regard to any limitations on, the indemnification provided for in Section 1
of this Agreement, the Company shall and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties,
fines and amounts paid in settlement actually and reasonably incurred by him or on his behalf if, by reason of his Corporate Status,
he is, or is threatened to be made, a party to or participant in any Proceeding (including, without limitation, a Proceeding by
or in the right of the Company), including, without limitation, all liability arising out of the negligence or active or passive
wrongdoing of Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant to this Agreement
shall be that the Company shall not be obligated to make any payment to Indemnitee that is finally determined (under the procedures,
and subject to the presumptions, set forth in Sections 6 and 7 of this Agreement) to be unlawful.

 

3.Contribution.

 

(a)Whether
or not the indemnification provided in Sections 1 and 2 of this Agreement is available, in respect of any threatened,
pending or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined
in such action, suit or proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or settlement
of such action, suit or proceeding without requiring Indemnitee to contribute to such payment and the Company hereby waives and
relinquishes any right of contribution it may have against Indemnitee. The Company shall not enter into any settlement of any
action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit
or proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

(b)Without
diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee
shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action,
suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding),
the Company shall contribute to the amount of expenses (including, without limitation, attorneys’ fees and disbursements),
judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion
to the relative benefits received by the Company and all officers, directors or employees of the Company, other than Indemnitee,
who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee,
on the other hand, from the transaction from which such action, suit or proceeding arose; provided, however, that the proportion
determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by reference to
the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee who are jointly
liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other
hand, in connection with the events that resulted in such expenses, judgments, fines or settlement amounts, as well as any other
equitable considerations which the Law may require to be considered. The relative fault of the Company and all officers, directors
or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action,
suit or proceeding), on the one hand, and Indemnitee, on the other hand, shall be determined by reference to, among other things,
the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability
is primary or secondary and the degree to which their conduct is active or passive.

 

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(c)The
Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of contribution which may be brought by
officers, directors or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee.

 

(d)To
the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee
for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee,
whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection
with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in
light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and
Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of
the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

 

4.Indemnification
for Expenses of a Witness or in Response to a Subpoena. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee, by reason of Indemnitee’s Corporate Status, is a witness, or receives a subpoena, in any Proceeding to
which Indemnitee is not a party, Indemnitee shall be indemnified against all Expenses paid or incurred by Indemnitee in connection
therewith and in the manner set forth in this Agreement.

 

5.Advancement
of Expenses. Notwithstanding any other provision of this Agreement, the Company shall advance all Expenses incurred by or
on behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within thirty (30)
days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time
to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence
the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by an undertaking by or on behalf of Indemnitee
to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against
such Expenses. Any advances and undertakings to repay pursuant to this Section 5 shall be unsecured and interest free and
made without regard to Indemnitee’s ability to repay such advances.

 

6.Procedures
and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for Indemnitee
rights of indemnity that are as favorable as may be permitted under the GCL and public policy of the State of Delaware. Accordingly,
the parties agree that the following procedures and presumptions shall apply in the event of any question as to whether Indemnitee
is entitled to indemnification under this Agreement:

 

(a)To
obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith
such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and
to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a
request for indemnification, advise the Board in writing that Indemnitee has requested indemnification.

 

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(b)Upon
written request by Indemnitee for indemnification pursuant to the first sentence of Section 6(a) of this Agreement, a determination,
if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one
of the following four methods, which shall be at the election of the Board: (1) by a majority vote of the Disinterested Directors
(as hereinafter defined), even though less than a quorum, (2) by a majority vote of a committee of Disinterested Directors designated
by a majority vote of the Disinterested Directors, even though less than a quorum, (3) if there are no Disinterested Directors
or if the Disinterested Directors so direct, by Independent Counsel (as hereinafter defined) in a written opinion to the Board,
a copy of which shall be delivered to the Indemnitee, or (4) if so directed by the Board, by the stockholders of the Company.

 

(c)If
the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b) of this
Agreement, the Independent Counsel shall be selected as provided in this Section 6(c). The Independent Counsel shall be
selected by the Board. Indemnitee may, within 10 days after such written notice of selection shall have been given, deliver to
the Company, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted
only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel”
as defined in this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent
a proper and timely objection, the person so selected shall act as Independent Counsel. If a reasonable written objection is made,
the Independent Counsel selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court
has determined that such objection is without merit. If, within 20 days after submission by Indemnitee of a written request for
indemnification pursuant to Section 6(a) of this Agreement, no Independent Counsel shall have been selected and not objected
to, either the Company or Indemnitee may petition any Court in the State of New York or other court of competent jurisdiction
for resolution of any objection which shall have been made by the Indemnitee to the Company’s selection of Independent Counsel
and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall
designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent
Counsel under Section 6(b) of this Agreement. The Company shall pay any and all reasonable fees and expenses of Independent
Counsel incurred by such Independent Counsel in connection with acting pursuant to Section 6(b) of this Agreement, and
the Company shall pay all reasonable fees and expenses incident to the procedures of this Section 6(c), regardless of the
manner in which such Independent Counsel was selected or appointed.

 

(d)In
making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption
shall have the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure of the Company
(including by its directors or Independent Counsel) to have made a determination prior to the commencement of any action pursuant
to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct,
nor an actual determination by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such
applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable
standard of conduct.

 

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(e)Indemnitee
shall be deemed to have acted in good faith if Indemnitee’s action is based on: (i) the records or books of account of the
Enterprise (as hereinafter defined) (including, without limitation, financial statements); (ii) information supplied to Indemnitee
by the officers of the Enterprise in the course of their duties; (iii) the advice of legal counsel for the Enterprise; or (iv)
information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser
or other expert selected with reasonable care by the Enterprise. In addition, the knowledge and/or actions, or failure to act,
of any director, officer, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the
right to indemnification under this Agreement. Whether or not the foregoing provisions of this Section 6(e) are satisfied,
it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he reasonably believed
to be in or not opposed to the best interests of the Company. Anyone seeking to overcome this presumption shall have the burden
of proof and the burden of persuasion by clear and convincing evidence.

 

(f)If
the person, persons or entity empowered or selected under this Section 6 to determine whether Indemnitee is entitled to
indemnification shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor,
the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled
to such indemnification absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary
to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a
prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable
time, not to exceed an additional thirty (30) days, if the person, persons or entity making such determination with respect to
entitlement to indemnification in good faith requires such additional time to obtain or evaluate documentation and/or information
relating thereto; and provided, further, that the foregoing provisions of this Section 6(f) shall not apply if the determination
of entitlement to indemnification is to be made by the stockholders pursuant to item (4) of Section 6(b) of this Agreement
and if (A) within fifteen (15) days after receipt by the Company of the request for such determination, the Board or the Disinterested
Directors, if appropriate, resolve to submit such determination to the stockholders for their consideration at an annual meeting
thereof to be held within seventy-five (75) days after such receipt and such determination is made thereat, or (B) a special meeting
of stockholders is called within fifteen (15) days after such receipt for the purpose of making such determination, such meeting
is held for such purpose within sixty (60) days after having been so called and such determination is made thereat.

 

(g)Indemnitee
shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to
indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information
which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably
necessary to such determination. Any Independent Counsel, member of the Board or stockholder of the Company shall act reasonably
and in good faith in making a determination regarding the Indemnitee’s entitlement to indemnification under this Agreement.
Any costs or expenses (including, without limitation, attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating
with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination
as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless
therefrom.

 

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(h)The
Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to
avoid expense, delay, distraction, disruption and uncertainty. In the event that any action, claim or proceeding to which Indemnitee
is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement
of such action, claim or proceeding with or without payment of money or other consideration) it shall be presumed that Indemnitee
has been successful on the merits or otherwise in such action, suit or proceeding. Anyone seeking to overcome this presumption
shall have the burden of proof and the burden of persuasion by clear and convincing evidence.

 

(i)The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon
a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely
affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner
which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding,
that Indemnitee had reasonable cause to believe that his conduct was unlawful.

 

7.Remedies
of Indemnitee.

 

(a)In
the event that (i) a determination is made pursuant to Section 6 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no
determination of entitlement to indemnification is made pursuant to Section 6(b) of this Agreement within ninety (90) days
after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to this
Agreement within ten (10) days after receipt by the Company of a written request therefor or (v) payment of indemnification is
not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification or such determination
is deemed to have been made pursuant to Section 6 of this Agreement, Indemnitee shall be entitled to an adjudication in
an appropriate court of the State of California, or in any other court of competent jurisdiction, of Indemnitee’s entitlement
to such indemnification. Indemnitee shall commence such proceeding seeking adjudication within one (1) year following the date
on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a). The Company shall not
oppose Indemnitee’s right to seek any such adjudication.

 

(b)In
the event that a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding commenced pursuant to this Section 7 shall be conducted in all respects as
a de novo trial on the merits, and Indemnitee shall not be prejudiced by reason of the adverse determination under Section
6(b) of this Agreement.

 

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(c)If
a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent
(i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s misstatement
not materially misleading in connection with the application for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

(d)In
the event that Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of his rights under, or to recover
damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies
maintained by the Company, the Company shall pay on his behalf, in advance, any and all expenses (of the types described in the
definition of Expenses in this Agreement) actually and reasonably incurred by him in such judicial adjudication, regardless of
whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of expenses or insurance recovery.

 

(e)The
Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section 7 that the procedures
and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company
is bound by all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all Expenses and, if
requested by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request therefore) advance, to
the extent not prohibited by law, such expenses to Indemnitee, which are incurred by Indemnitee in connection with any action
brought by Indemnitee for indemnification or advance of Expenses from the Company under this Agreement or under any directors’
and officers’ liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined
to be entitled to such indemnification, advancement of Expenses or insurance recovery, as the case may be.

 

(f)
Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this
Agreement shall be required to be made prior to the final disposition of the Proceeding.

 

8.Non-Exclusivity;
Survival of Rights; Insurance; Subrogation.

 

(a)The
rights of indemnification as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee
may at any time be entitled under applicable law, the certificate of incorporation and the bylaws of the Company, any agreement,
a vote of stockholders, a resolution of the Board or otherwise. No amendment, alteration or repeal of this Agreement or of any
provision of this Agreement shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken
or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal. To the extent that a change
in the GCL, whether by statute or judicial decision, permits greater indemnification than would be afforded currently under the
certificate of incorporation, the bylaws of the Company and this Agreement, it is the intent of the parties hereto that Indemnitee
shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended
to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other
right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of
any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

 

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(b)To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees,
or agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan
or other enterprise that such person serves at the request of the Company, the Company shall obtain coverage for Indemnitee under
such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any director,
officer, employee, agent or fiduciary under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant
to the terms of this Agreement, the Company has director and officer liability insurance in effect, the Company shall give prompt
notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies.
The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee,
all amounts payable as a result of such proceeding in accordance with the terms of such policies.

 

(c)In
the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

(d)The
Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the
extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

 

(e)The
Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the
Company as a director, officer, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of
expenses from such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.

 

9.Exception
to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this
Agreement to make any indemnity in connection with any claim made against Indemnitee:

 

(a)for
which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except
with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or

 

(b)for
an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of Company securities pursuant to
Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or common
law; or

 

(c)subject
to Section 7(d), in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee (including, without
limitation, any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers,
employees or other indemnitees), unless (i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation
or (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable
law.

 

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10.Duration
of Agreement. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is
an executive of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise) and shall continue thereafter for (i) an additional three
(3) years or (ii) so long as Indemnitee shall be subject to any Proceeding (or any proceeding commenced under Section 7
of this Agreement) by reason of his Corporate Status, whether or not he is acting or serving in any such capacity at the time
any liability or expense is incurred for which indemnification can be provided under this Agreement, whichever such additional
term is longer. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and
their respective successors (including, without limitation, any direct or indirect successor by purchase, merger, consolidation
or otherwise to all or substantially all of the business or assets of the Company), assigns, spouses, heirs, executors and personal
and legal representatives.

 

11.Security.
To the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide security
to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other
collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent of
the Indemnitee.

 

12.Enforcement.

 

(a)The
Company expressly confirms and agrees that it has entered into this Agreement and assumes the obligations imposed on it hereby
in order to induce Indemnitee to serve as an officer of the Company, and the Company acknowledges that Indemnitee is relying upon
this Agreement in serving as an officer of the Company.

 

(b)This
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter of this Agreement and
supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the
subject matter of this Agreement.

 

13.Definitions.
For purposes of this Agreement:

 

(a)“Corporate
Status” means the status of a person who is or was a director, officer, employee, agent or fiduciary of or consultant
to the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that
such person is or was serving at the express written request of the Company.

 

(b)“Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.

 

(c)“Enterprise”
means the Company and any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that
Indemnitee is or was serving at the express written request of the Company as a director, officer, employee, agent or fiduciary.

 

    	 	10	 

    	 

    

 

(d)“Expenses”
means all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses,
duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements or
expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating,
participating, or being or preparing to be a witness in a Proceeding. Expenses also shall include Expenses incurred in connection
with any appeal resulting from any Proceeding, including without limitation the premium, security for, and other costs relating
to any cost bond, supersede as bond, or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid
in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

(e)“Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither
presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material
to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under
similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder.
Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable
standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee
in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of the
Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and
damages arising out of or relating to this Agreement or its engagement pursuant hereto.

 

(f)“Proceeding”
means any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry,
administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the Company
or otherwise and whether civil, criminal, administrative or investigative, in which Indemnitee was, is or will be involved as
a party or otherwise, by reason of the fact that Indemnitee is or was an officer or director of the Company, by reason of any
action taken by him or of any inaction on his part while acting as an officer or director of the Company, or by reason of the
fact that he is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of another corporation,
partnership, joint venture, trust or other Enterprise; in each case whether or not he is acting or serving in any such capacity
at the time any liability or expense is incurred for which indemnification can be provided under this Agreement; but excluding
any such proceeding initiated by an Indemnitee pursuant to Section 7 of this Agreement to enforce his rights under this
Agreement.

 

14.Severability.
The invalidity or unenforceability of any provision of this Agreement shall in no way affect the validity or enforceability of
any other provision. Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification
rights to the fullest extent permitted by applicable laws. In the event any provision of this Agreement conflicts with any applicable
law, such provision shall be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve such
conflict.

 

    	 	11	 

    	 

    

 

15.Modification
and Waiver. No supplement, modification, termination or amendment of this Agreement shall be binding unless executed in writing
by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provisions of this Agreement (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

16.Notice
by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any
summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may
be subject to indemnification covered hereunder. The failure to so notify the Company shall not relieve the Company of any obligation
which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay materially
prejudices the Company.

 

17.Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent
during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five (5) days after
having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit
with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications
shall be sent:

 

	 	(a)	To
    Indemnitee at the address set forth on the signature page hereto.
	 	 	 
	 	(b)	To
    the Company at:
	 	 	 
	 	 	Wizard
    World, Inc.
	 	 	2201
    Park Place, Suite 101
	 	 	El
    Segundo, CA 90245

 

or
to such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may
be.

 

18.Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile signature and in two
or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

19.Headings.
The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part
of this Agreement or to affect the construction thereof.

 

20.Governing
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed
and enforced in accordance with, the laws of the State of New York, without regard to its conflict of laws rules. The parties
hereto hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this
Agreement shall be brought in any court of the State of New York (the “New York Court”), and not in any other
state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive
jurisdiction of the California Court for purposes of any action or proceeding arising out of or in connection with this Agreement,
(iii) waive any objection to the laying of venue of any such action or proceeding in the California Court, and (v) waive, and
agree not to plead or to make, any claim that any such action or proceeding brought in the New York Court has been brought in
an improper or inconvenient forum.

 

[-signature
page follows-]

 

    	 	12	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and year first above written.

 

	 	WIZARD
    WORLD, INC.
	 	 	 
	 	By:	/s/
    Greg Suess 
	 	Name:	Greg
    Suess
	 	Title:	Chairman
    of the Compensation Committee
	 	 	 
	 	INDEMNITEE
	 	 	 
	 	/s/ John D. Maatta 
	 	John D. Maatta
	 	 	 
	 	Address:
	 	 	 
	 	John
    D. Maatta, President & CEO
	 	Wizard
    World, Inc.
	 	2201
    Park Place, Suite 101
	 	El
    Segundo, CA 90245

 

[Signature
page to Indemnification Agreement]EXHIBIT 10.4

 

WIZARD
WORLD, INC. 

NON-QUALIFIED
STOCK OPTION AGREEMENT

 

EMPLOYEE

 

THIS
NON-QUALIFIED STOCK OPTION AGREEMENT (the “Agreement”) entered into as of July 15, 2016 but effective as of
May 3, 2016, by and between Wizard World, Inc. (the “Company”) and John D. Maatta (the “Optionee”).

 

WHEREAS,
pursuant to the authority of the Board of Directors (the “Board”), the Company has granted the Optionee the
right to purchase common stock, $0.0001 par value per share (“Common Stock”) of the Company pursuant to stock
options granted under an equity incentive plan approved by the Board;

 

WHEREAS,
the Company and Optionee are entering into that certain Employment Agreement of even date herewith (the “Employment Agreement”)
whereby, among other things, the Optionee shall serve the Company’s President and Chief Executive Officer.

 

NOW
THEREFORE, in consideration of the mutual covenants and promises hereafter set forth and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

1.Grant
of Non-Qualified Options. The Company hereby irrevocably grants to the Optionee the right and option to purchase all or any
part of an aggregate of 1,100,000 shares of authorized but unissued or treasury common stock of the Company (the “Options”)
on the terms and conditions herein set forth. The Common Stock shall be unregistered under the Securities Act of 1933, as amended
(the “Securities Act”), unless the Company voluntarily files a registration statement covering such shares
Common Stock with the Securities and Exchange Commission. The Options are not intended to be Incentive Stock Options as defined
by Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”).

 

2.Price.
The exercise price of the shares of Common Stock subject to the Options granted hereunder shall be in accordance with Schedule
2 attached hereto.

 

3.Vesting.

 

(a)The
Options shall vest in accordance with Schedule 2 attached hereto, subject to the Optionee continuing to perform services
for the Company in the capacity in which the grant was received on each applicable vesting date. In lieu of fractional vesting,
the number of Options shall be rounded up each time until fractional Options are eliminated.

 

(b)Subject
to Sections 3(c) and 4 of this Agreement, Options may be exercised by providing to the Company the Notice of Option Exercise in
the form attached hereto as Exhibit A after vesting and remain exercisable until 5:30 p.m. New York time on the date that
is the fifth (5th) year anniversary of the date first written on this Agreement.

 

    	1

    	 

    

 

(c)However,
notwithstanding any other provision of this Agreement, at the option of the Board in its sole and absolute discretion, all Options
shall be immediately forfeited in the event any of the following events occur:

 

(i)The
termination of the Optionee’s employment with the Company for Cause or without Good Reason, including, but not limited to,
Optionee’s voluntary termination of his employment, as such terms are defined in the Employment Agreement;

 

(ii)The
Optionee purchases or sells securities of the Company without written authorization in accordance with the Company’s insider
trading policy then in effect, if any;

 

(iii)The
Optionee (A) discloses, publishes or authorizes anyone else to use, disclose or publish, without the prior written consent of
the Company, any proprietary or confidential information of the Company, including, without limitation, any information relating
to existing or potential customers, business methods, financial information, trade or industry practices, sales and marketing
strategies, employee information, vendor lists, business strategies, intellectual property, trade secrets or any other proprietary
or confidential information or (B) directly or indirectly uses any such proprietary or confidential information for the individual
benefit of the Optionee or the benefit of a third party;

 

(iv)During
the Term (as defined in the Employment Agreement) of the Optionee’s employment under the Employment Agreement and for a
period of two (2) years thereafter, the Optionee disrupts or damages, impairs or interferes with the business of the Company or
its Affiliates by recruiting, soliciting or otherwise inducing any of their respective employees to enter into employment or other
relationship with any other business entity, or terminate or materially diminish their relationship with the Company or its Affiliates,
as applicable;

 

(v)During
the Term (as defined in the Employment Agreement) of the Optionee’s employment under the Employment Agreement and for a
period of one (1) year thereafter, the Optionee solicits or directs business of any person or entity who is (A) a customer of
the Company or its Affiliates at any time or (B) solicited to be a “prospective customer” of the Company or its Affiliates,
in any case either for such Optionee or for any other person or entity. For purposes of this clause (v), “prospective
customer” means a person or entity who contacted, or is contacted by, the Company or its Affiliates regarding the provision
of services to or on behalf of such person or entity; provided that the Optionee has actual knowledge of such prospective
customer;

 

(vi)The
Optionee fails to reasonably cooperate to effect a smooth transition of the Optionee’s duties and to ensure that the Company
is apprised of the status of all matters the Optionee is handling or is unavailable for consultation after termination of employment
of the Optionee if such availability is a condition of any agreement to which the Company and the Optionee are parties;

 

    	2

    	 

    

 

(vii)The
Optionee fails to assign all of such Optionee’s rights, title and interest in and to any and all ideas, inventions, formulas,
source codes, techniques, processes, concepts, systems, programs, software, computer data bases, trademarks, service marks, brand
names, trade names, compilations, documents, data, notes, designs, drawings, technical data and/or training materials, including
improvements thereto or derivatives therefrom, whether or not patentable or subject to copyright or trademark or trade secret
protection, developed and produced by the Optionee used or intended for use by or on behalf of the Company or the Company’s
clients;

 

(viii)The
Optionee acts in a disloyal manner to the Company, such as making comments, whether oral or in writing, that tend to disparage
or injure (i) the reputation or business of the Company or its Affiliates, or is likely to result in discredit to, or loss of
business, reputation or goodwill of, the Company or its Affiliates or (ii) its directors, officers or stockholders; or

 

(ix)A
finding by the Board that the Optionee has acted against the interests of the Company or in a manner that has or may have a detrimental
effect on the Company.

 

(d)For
purposes of this Agreement, “Affiliate” means with respect to a person or entity, any other person or entity
controlled by, in control of or under common control with such person or entity, and “controlled,” “controlled
by,” and “under common control with” shall mean direct or indirect possession of the power to direct or cause
the direction of management or policies (whether through ownership of voting securities, by contract or otherwise) of a person
or entity.

 

4.Termination
of Relationship.

 

(a)If
for any reason, except death or disability as provided below, the Optionee ceases to perform the services for which the Options
were granted, all unvested options shall be automatically and irrefutably forfeited effective three months from the date the Optionee
ceases to perform such services, except as otherwise provided herein.

 

(b)If
the Optionee shall die while performing services for the Company, such Optionee’s estate or any Transferee (as defined hereinafter)
shall have the right within twelve (12) months from the date of death to exercise the Optionee’s vested Options, subject
to Section 3(c) hereof. For the purpose of this Agreement, “Transferee” shall mean an individual to whom such
Optionee’s vested Options are transferred by will or by the laws of descent and distribution.

 

(c)If
the Optionee shall become disabled while performing services for the Company within the meaning of Section 22(e)(3) of the Code,
the three-month period referred to in Section 4(a) of this Agreement shall be extended to one year.

 

5.Profits
on the Sale of Certain Shares; Redemption. If any of the events specified in Section 3(c) of this Agreement occur within one
(1) year from the last date the Optionee performed services for which the Options were granted (the “Termination Date”),
all profits earned from the sale of the Company’s securities, including the sale of shares of Common Stock underlying the
Options, during the two (2) year period commencing one (1) year prior to the Termination Date shall be forfeited and forthwith
paid by the Optionee to the Company within ten (10) days after the Optionee receives written demand from the Company for such
payment and a copy of the documentation of the sale, including, without limitation, the purchase price therefor. Further, in such
event, the Company may at its option redeem shares of Common Stock acquired upon exercise of the Options by payment of the exercise
price to the Optionee. The Company’s rights under this Section 5 do not lapse one year from the Termination Date, but are
a contract right subject to any appropriate statutory limitation period. 

 

    	3

    	 

    

 

6.Transfer.No
transfer of the Options by the Optionee by will or by the laws of descent and distribution shall be effective to bind the Company
unless the Company shall have been furnished with written notice thereof and a copy of the letters testamentary or such other
evidence as the Board may deem necessary to establish the authority of the estate and the acceptance by the Transferee or Transferees
of the terms and conditions of the Options.

 

7.Method
of Exercise. The Options shall be exercisable by a written notice in the manner and form identified on Exhibit A hereto which
information shall include:

 

(a)
state the election to exercise the Options, the number of shares to be exercised, the natural person in whose name the stock
certificate or certificates for such shares of Common Stock is to be registered and such person’s address and social security
number (or if more than one, the names, addresses and social security numbers of such persons);

 

(b)
contain such representations and agreements as to the holder’s investment intent with respect to such shares of Common
Stock as set forth in Section 11 hereof;

 

(c)
be signed by the person or persons entitled to exercise the Options and, if the Options are being exercised by any person
or persons other than the Optionee, be accompanied by proof, satisfactory to counsel for the Company, of the right of such person
or persons to exercise the Options; and

 

(d)
be accompanied by full payment of the purchase or exercise price in United States dollars in cash or by bank or cashier’s
check, certified check or money order or in the form of shares pursuant to the 2011 Third Amended and Restated Stock Incentive
and Award Plan of the Company (the “2011 Plan”). 

 

The
certificate or certificates for shares of Common Stock as to which the Options shall be exercised shall be registered in the name
of the person or persons exercising the Options.

 

8.Sale
of Shares Acquired Upon Exercise of Options. If the Optionee is an officer (as defined by Section 16(b) of the Securities
Exchange Act of 1934, as amended (“Section 16(b)”), any shares of the Company’s Common Stock acquired
pursuant to Options granted hereunder cannot be sold by the Optionee, subject to Rule 144 promulgated under the Securities Act,
until at least six (6) months elapse from the date of grant of the Options, except in the case of death or disability or if the
grant was exempt from the short-swing profit provisions of Section 16(b).

 

9.Adjustments.
Upon the occurrence of any of the following events, the Optionee’s rights with respect to Options granted to such Optionee
hereunder shall be adjusted as hereinafter provided unless otherwise specifically provided in a written agreement between the
Optionee and the Company relating to such Options:

 

    	4

    	 

    

 

(a)If
the shares of Common Stock shall be subdivided or combined into a greater or smaller number of shares, respectively, or if the
Company shall issue any shares of its Common Stock as a stock dividend on its outstanding shares of Common Stock, the number of
shares of Common Stock deliverable upon the exercise of the Options shall be appropriately increased or decreased proportionately,
and appropriate adjustments shall be made in the exercise price per share to reflect such subdivision, combination or stock dividend,
as applicable;

 

(b)If
the Company is to be consolidated with or acquired by another entity pursuant to an acquisition, the board of directors of any
entity assuming the obligations of the Company hereunder (the “Successor Board”) shall either (i) make appropriate
provision for the continuation of such Options by substituting on an equitable basis for the shares then subject to such Options
the consideration payable with respect to the outstanding shares of Common Stock of the Company in connection with such acquisition
or (ii) terminate all Options in exchange for a cash payment equal to the excess of the fair market value of the shares of Common
Stock subject to such Options over the exercise price thereof;

 

(c)In
the event of a recapitalization or reorganization of the Company (other than a transaction described in Section 9(b) above) pursuant
to which securities of the Company or of another corporation are issued with respect to the outstanding shares of Common Stock,
the Optionee upon exercising the Options shall be entitled to receive for the purchase price paid upon such exercise, the securities
such Optionee would have received if such Optionee had exercised such Optionee’s Options prior to such recapitalization
or reorganization;

 

(d)Except
as expressly provided herein, no issuance by the Company of shares of Common Stock of any class or securities convertible into
shares of Common Stock of any class shall affect, and no adjustment by reason thereof shall be made with respect to, the number
or exercise price of shares subject to Options. No adjustments shall be made for dividends or other distributions paid in cash
or in property other than securities of the Company;

 

(e)No
fractional shares shall be issued and the Optionee shall receive from the Company cash based on the fair market value of the shares
of Common Stock in lieu of such fractional shares; or

 

(f)The
Board or the Successor Board shall determine the specific adjustments to be made under this Section 9, and its determination shall
be conclusive. If the Optionee receives securities or cash in connection with a corporate transaction described in Section 9(a),
(b) or (c) above as a result of owning such restricted Common Stock, such securities or cash shall be subject to all of the conditions
and restrictions applicable to the restricted Common Stock with respect to which such securities or cash were issued, unless otherwise
determined by the Board or the Successor Board.

 

10.
Necessity to Become Holder of Record. Neither the Optionee, the Optionee’s estate, nor the Transferee have any
rights as a shareholder with respect to any shares of Common Stock covered by the Options until such Optionee, estate or Transferee,
as applicable, shall have become the holder of record of such shares of Common Stock. No adjustment shall be made for cash dividends
or cash distributions, ordinary or extraordinary, in respect of such shares of Common Stock for which the record date is prior
to the date on which such Optionee, estate or Transferee, as applicable, shall become the holder of record thereof.

 

    	5

    	 

    

 

11.
Conditions to Exercise of Options. 

 

(a)In
order to enable the Company to comply with the Securities Act and relevant state law, the Company may require the Optionee, the
Optionee’s estate or any Transferee, as a condition of the exercising of the Options granted hereunder, to give written
assurance satisfactory to the Company that the shares of Common Stock subject to the Options are being acquired for such Optionee’s,
estate’s or Transferee’s, as applicable, own account, for investment only, with no view to the distribution of same,
and that any subsequent resale of any such shares of Common Stock either shall be made pursuant to a registration statement under
the Securities Act and applicable state law which has become effective and is current with regard to the shares of Common Stock
being sold, or shall be pursuant to an exemption from registration under the Securities Act and applicable state law.

 

(b)The
Options are subject to the requirement that, if at any time the Board shall determine, in its sole and absolute discretion, that
the listing, registration or qualification of the shares of Common Stock subject to the Options upon any securities exchange or
under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary as a condition of,
or in connection with the issue or purchase of such shares of Common Stock under the Options, the Options may not be exercised
in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected. 

 

12.
Duties of Company. The Company will at all times during the term of the Options:

 

(a)
Reserve and keep available for issue such number of shares of its authorized and unissued shares of Common Stock as will be
sufficient to satisfy the requirements of this Agreement;

 

(b)
Pay all original issue taxes with respect to the issue of shares of Common Stock pursuant hereto and all other fees and expenses
necessarily incurred by the Company in connection therewith; and

 

(c)
Use its best efforts to comply with all laws and regulations which, in the opinion of counsel for the Company, shall be applicable
thereto.

 

13.Severability.
In the event any parts of this Agreement are found to be void, the remaining provisions of this Agreement shall nevertheless be
binding with the same effect as though the void parts were deleted.

 

14.Arbitration.
Any controversy, dispute or claim arising out of or relating to this Agreement, or its interpretation, application, implementation,
breach or enforcement which the parties hereto are unable to resolve by mutual agreement, shall be settled by submission by either
party of the controversy, claim or dispute to binding arbitration in New York County, New York (unless the parties agree in writing
to a different location), before a single arbitrator in accordance with the rules of the American Arbitration Association then
in effect. The decision and award made by the arbitrator shall be final, binding and conclusive on all parties hereto for all
purposes, and judgment may be entered thereon in any court having jurisdiction thereof.

 

    	6

    	 

    

 

15.Benefit.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their legal representatives, successors
and assigns.

 

16.Notices
and Addresses. All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in writing,
and shall be sufficiently given if delivered to the addressees in person, by FedEx or similar receipted delivery as follows:

 

	 	The
    Optionee:	John
    D. Maatta
	 	 	15266
    Valley Vista Boulevard
	 	 	Sherman
    Oaks, CA 91403
	 	 	 
	 	The
    Company:	Wizard
    World, Inc.
	 	 	2201
    Park Place, Suite 101
	 	 	El
    Segundo, CA 90245

 

or
to such other address as either of them, by notice to the other, may designate from time to time. The transmission confirmation
receipt from the sender’s facsimile machine shall be evidence of successful facsimile delivery. Time shall be counted to,
or from, as the case may be, the delivery in person or by mailing.

 

17.Attorneys’
Fees. In the event that there is any controversy or claim arising out of or relating to this Agreement, or to the interpretation,
breach or enforcement thereof, and any action or proceeding is commenced to enforce the provisions of this Agreement, the prevailing
party shall be entitled from the non-prevailing party to its reasonable attorneys’ fee, costs and expenses.

 

18.Governing
Law. This Agreement and any dispute, disagreement, or issue of construction or interpretation arising hereunder whether relating
to its execution, its validity, the obligations provided herein or performance, shall be governed or interpreted according to
the laws of the State of New York without regard to choice of law considerations. 

 

19.Oral
Evidence. This Agreement, along with the 2011 Plan and the Employment Agreement, constitute the entire agreement between the
parties hereto and supersedes all prior oral and written agreements between the parties hereto with respect to the subject matter
hereof. Neither this Agreement nor any provision hereof may be changed, waived, discharged or terminated except by a statement
in writing signed by the party or parties against which enforcement or the change, waiver discharge or termination is sought.

 

20.Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. The execution of this Agreement may be made by facsimile signature, which shall
be deemed to be an original.

 

21.Section
Headings. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect,
in any matter, or be deemed to interpret in whole or in part, any of the terms or provisions of this Agreement.

 

[-signature
page follows-]

 

    	7

    	 

    

 

IN
WITNESS WHEREOF the parties hereto have set their hand the day and year first above written.

 

	 	WIZARD
    WORLD, INC.
	 	 	 
	 	By:	/s/
    Greg Suess 
	 	 	Greg
    Suess
	 	 	Chairman
    of the Compensation Committee
	 	 	 
	 	OPTIONEE
	 	 	 
	 	By:	/s/
    John D. Maatta 
	 	 	John
    D. Maatta

 

    	[Signature
                                         page to Non-Qualified Stock Option Agreement]

    	 

    

 

EXHIBIT
A

 

FORM
OF NOTICE OF OPTION EXERCISE

 

To:Wizard
World, Inc. (the “Company”)

 

(1)The
undersigned hereby elects to purchase __________ shares of Common Stock of the Company (the “Shares”) pursuant to
the terms of the Option Agreement by and between the Company and the undersigned dated as of __________ ___, 20__, and tenders
herewith payment of the exercise price in full as set forth below.

 

(2)Payment
shall take the form of (check applicable box):

 

[  ]
in lawful money of the United States in the form of a check made payable by the undersigned to the Company; or

 

[  ]
in lawful money of the United States in the form of a wire transfer to the account specified by the Company;

 

[  ]
in the form of shares of Common Stock pursuant to Section 5(d) of the Plan.

 

(3)Please
issue a certificate or certificates representing the Shares in the name of the undersigned or in such other name as is specified
below:

 

____________________________________

 

The
Shares shall be delivered via overnight courier (with tracking information to be provided to the undersigned) to the following
address:

 

_____________________________

_____________________________

_____________________________

Attn:
________________________

Tel:
_________________________

 

	 	OPTIONEE
	 	 
	 	 

  

    	[Exhibit
                                         A to Non-Qualified Stock Option Agreement]

    	 

    

 

SCHEDULE
2

 

VESTING
AND EXERCISE PRICE OF OPTIONS

 

	Number of Options	 	Exercise Price	 	Vesting Date
	300,000	 	$0.50	 	Only upon a Change in Control*
	100,000	 	$0.50	 	June 30, 2016
	100,000	 	$0.50	 	September 30, 2016
	100,000	 	$0.50	 	December 31, 2016
	100,000	 	$0.55	 	March 31, 2017
	100,000	 	$0.55	 	June 30, 2017
	100,000	 	$0.55	 	September 30, 2017
	100,000	 	$0.60	 	December 31, 2017
	100,000	 	$0.60	 	March 31, 2018

 

*
“Change in Control” has the meaning assigned to in the Employment Agreement.

 

    	[Schedule
                                         2 to Non-Qualified Stock Option Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}]]