Document:

Exhibit 10.110

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
Executive Employment Agreement (this “Agreement”) is made and entered into as of October 1, 2020 (the “Effective
Date”) between TheMaven, Inc., a Delaware corporation (“Company”) and Andrew Kraft, an individual
(the “Executive”).

 

RECITALS

 

WHEREAS,
Company desires to employ Executive as its Chief Operating Officer (“COO”), and Executive desires to accept
this offer of employment, effective as of the Effective Date.

 

WHEREAS,
Company and Executive have determined that the terms and conditions of this Agreement are reasonable and in their mutual best
interests and accordingly desire to enter into this Agreement in order to provide for the terms and conditions upon which Executive
shall be employed by Company.

 

NOW
THEREFORE, in consideration of the foregoing and the respective covenants, agreements and representations and warranties set
forth herein, the parties to this Agreement, intending to be legally bound, agree as follows:

 

Article
1.

TERMS OF EMPLOYMENT

 

1.1.
Employment and Acceptance.

 

(a).
Employment and Acceptance. On and subject to the terms and conditions of this Agreement, Company shall employ Executive
and Executive hereby accepts such employment.

 

(b).
Title: Executive shall have the title of Chief Operating Officer (“COO”).

 

(c).
Responsibilities and Duties. Executive’s duties shall consist of such duties and responsibilities as are consistent
with the position of a COO including those duties listed in Exhibit A hereto and such other duties and responsibilities
as are mutually determined from time to time by Company’s Chief Executive Officer (“CEO”). Company acknowledges
that Executive currently acts as an advisor to Konduit, Placements.io, and IRIS.tv, none of which are competitive to Company.
Executive shall disclose all advisory roles for third parties for which he is engaged as of the Effective Date. Any changes in
advisor status or additional advisory roles Executive accepts must be disclosed by Executive to Company and any additions to Executive’s
responsibilities with such companies he advises must be first approved by Company in writing, e-mail to be sufficient.

 

(d).
Reporting. Executive shall report directly to the CEO, unless otherwise directed by the Board.

 

    	 

     

    

 

(e).
Performance of Duties; Travel. With respect to Executive’s duties hereunder, at all times, Executive shall be subject
to the instructions, control, and direction of the Board, and act in accordance with Company’s Certificate of Incorporation,
Bylaws and other governing policies, rules and regulations, except to the extent that Executive is aware that such documents conflict
with applicable law. Executive shall devote Executive’s business time, attention and ability to serving Company on an exclusive
and full-time basis as aforesaid and as the Board may reasonably require. Executive shall also travel as required by Executive’s
duties hereunder and shall comply with Company’s then-current travel policies. Company acknowledges that Executive lives
a substantial distance from New York City, and consequently it agrees that it will reimburse Executive for his reasonable hotel
and related expenses for overnight stays in New York City when entertaining customers or performing his duties during the later
evening or early morning hours.

 

(f).
Location. Executive shall be based in New York, NY and have a substantial in-person presence at Company’s New York
offices. Nevertheless it is expressly understood that Executive’s duties will require him to travel regularly out of the
New York area for periods of time. Executive will attend all in person meetings of the Board and will be expected to travel to
attend major conferences as reasonably required.

 

(g).
Officer. Executive shall, if requested, also serve as an officer of Company or of any Affiliate of Company for no additional
compensation.

 

1.2
Compensation and Benefits.

 

(a).
Annual Salary. Executive shall receive an annualized salary of $380,000 (“Annual Salary”). Annual Salary
shall be payable on a semi-monthly basis or such other payment schedule as used by Company for its senior-level executives from
time to time, less such deductions as shall be required to be withheld by applicable law and regulation and consistent with Company’s
practices. The Annual Salary payable to Executive will be reviewed annually by the Board. The Annual Salary shall be reduced by
15% solely for October 2020 and this reduction shall not constitute Good Reason (as defined in Section 1.5(i)).

 

(b).
Bonus Eligibility.

 

(i).
Annual Bonus. For each fiscal year of Executive’s employment, Executive shall be eligible to receive a $220,000 annual
bonus (“Annual Bonus”), to be made in quarterly payments of $55,000 at 100% attainment of performance metrics
to be agreed upon with the CEO by the end of January in each calendar year (“Quarterly Payments”); provided,
however, that Executive shall be guaranteed the full Quarterly Payments for Fourth Quarter 2020 and First Quarter 2021.

 

(ii).
Payment of Bonuses. The Quarterly Payments shall be paid within 45 days after the end of the applicable fiscal quarter.

 

(iii).
Eligibility for Bonuses. In order to be eligible to receive any Quarterly Payment, Executive must be employed by Company
on the last day of the applicable fiscal quarter.

 

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(c).
Prior Equity Incentives.

 

(i).
In connection with Executive’s prior employment with Company, (i) on December 13, 2018, Company issued to Executive (A)
options to acquire 1,000,000 shares (the “Time Options”) of common stock of Company (“Common Stock”)
subject to monthly vesting over 36 months commencing from the date of the grant; and (B) options to acquire 700,000 shares (the
“Performance Options”) of Common Stock subject to vesting based on the achievement during 2019 of the performance
targets set forth therein; and (ii) on April 10, 2019, Company issued to Executive options to acquire 1,354,193 shares (the “Stock
Price Target Options,” and together with the Time Options and the Performance Options, the “Options”)
of Common Stock subject to vesting based on both time and stock price targets. Executive’s continued service hereunder shall
constitute continuous service for the purposes of the Options. For purposes of clarity, the Time Options shall be fully vested
as of December 14, 2020, so long as Executive is not terminated for Cause or resigns without Good Reason before that date. Company
acknowledges that 400,000 shares of the Performance Options had been earned by Executive as of January 1, 2020, that Executive
has not vested in any further Performance Options since January 1, 2020, and that Executive shall no longer vest in any additional
Performance Options. Executive’s continued service hereunder shall also constitute continuous service for the purposes of
any other options provided under additional agreements by Company to Executive during any previous period of employment between
Company and Executive.

 

(ii).
Executive acknowledges that at the time of the grants, the shares underlying the Options were not authorized and available for
issuance, therefore the Options will be considered to be unfunded options. Executive agrees that no part of the Options may be
exercised until the later of the increase in the authorized shares of Common Stock in sufficient number of shares to permit the
exercise from time to time of such Option or the later completion of the vesting conditions and exercise date as set forth therein.
In the event the shares underlying the Options are not authorized and available for issuance and should Executive be terminated
without Cause or resign for Good Reason, Company shall grant to Executive a reasonable time to exercise that shall at least extend
until such Options become authorized for exercise.

 

(d).
Stock Option Grant.

 

(i).
Company will grant to Executive options to purchase shares of Company’s Common Stock, restricted stock units or restricted
stock awards (collectively, “New Options”) pursuant to Company’s 2019 Equity Incentive Plan (the “Plan”)
subject to the conditions described therein. The type and number of New Options and the terms associated with vesting and accelerated
vesting of the New Options shall be commensurate with similarly situated executives when considering all Options (including previously
held options and common stock) held by those similarly situated executives. The New Options vesting is subject, among other restrictions,
to vesting over three years, and to Company’s right to cancel a portion of the New Options, each as described in the Plan.

 

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(ii).
In connection with the New Options, Executive acknowledges that at the time of the grants, the shares underlying the New Options
are not authorized and available for issuance, therefore the New Options are considered to be unfunded options. Executive agrees
that no part of the New Options may be exercised until the later of the increase in the authorized shares of Common Stock in sufficient
number of shares to permit the exercise from time to time of such New Options or the later completion of the vesting conditions
and exercise date as set forth therein. In the event the shares underlying the New Options are not authorized and available for
issuance and should Executive be terminated without Cause or resign for Good Reason, Company shall grant to Executive a reasonable
time to exercise that shall at least extend until such Options become authorized for exercise.

 

(e).
Expenses. Executive shall be reimbursed for all ordinary and necessary out-of-pocket business expenses reasonably and actually
incurred or paid by Executive in the performance of Executive’s duties in accordance with Company’s policies upon
presentation of such expense statements or vouchers or such other supporting information as Company may require.

 

(f).
Benefits. Executive shall be entitled to fully participate in all benefit plans that are in place and available to senior-level
executives of Company from time to time, including, without limitation, medical, dental, vision and life insurance (if offered),
in each case subject to the general eligibility, participation and other provisions set forth in such plans.

 

(g).
Paid Time Off. Executive shall be entitled to paid time off based on Company’s policies in effect from time to time.

 

(h).
Clawback Provisions. Notwithstanding any other provisions in this Agreement to the contrary, any incentive-based compensation,
or any other compensation, paid to Executive pursuant to this Agreement or any other agreement or arrangement with Company which
is subject to recovery under any law, government regulation, or stock exchange listing requirement, will be subject to such deductions
and clawback as may be required to be made pursuant to such law, government regulation, or stock exchange listing requirement.

 

1.3
Term; Termination of Employment.

 

(a).
At-Will Employment. Executive’s employment hereunder shall commence on the Effective Date and shall continue until
terminated earlier pursuant to Section 1.3(b) of this Agreement. The period during which Executive is employed by Company hereunder
is hereinafter referred to as the “Term.” Executive’s employment with Company is “at-will.”
This means that it is not for any specified period of time and can be terminated by Executive or by Company at any time, and for
any or no reason or cause. This “at-will” nature of your employment shall remain unchanged during the Term, and can
only be changed by an express written agreement that is signed by you and the CEO. For purposes of clarification, your status
as an at-will employee shall not affect your eligibility for severance pursuant to Section 1.3(d).

 

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(b).
Termination of Employment. Executive’s employment may be terminated by Company or Executive as follows:

 

(i).
Termination for Cause. Company may terminate Executive’s employment at any time for Cause upon written notice to
Executive setting forth the termination date and, in reasonable detail, the circumstances claimed to provide a basis for termination
pursuant to this Section 1.3(b)(i), without any requirement of a notice period and without payment of any compensation of any
nature or kind; provided, however, that if the Cause is pursuant to subsections (i), (ii), (vi) or (vii) of the
definition of Cause (appearing below), the CEO must give Executive the written notice referenced above within (30) days of the
date that the CEO becomes aware or has knowledge of, or reasonably should have become aware or had knowledge of, such act or omission,
and Executive will have thirty (30) days to cure such act or omission. Upon payment of the amounts set forth in Section 1.3(d),
Executive shall not be entitled to any benefits or payments (other than those required under Section 1.3(d)).

 

(ii).
Termination without Cause. Company may terminate Executive’s employment at any time without Cause upon written notice
to Executive, subject to Sections 1.3(c) and 1.3(d).

 

(iii).
Permanent Incapacity. In the event of the “Permanent Incapacity” of Executive (which shall mean by reason
of illness or disease or accidental bodily injury, Executive is so disabled that Executive is unable to ever work again), Executive
may thereupon be terminated by Company upon written notice to Executive without payment of any severance of any nature or kind
(including, without limitation, by way of anticipated earnings, damages or payment in lieu of notice); provided that, in the event
of Executive’s termination pursuant to this Subsection 1.3(b)(iii), Company shall pay or cause to be paid to Executive (i)
the amounts prescribed by Section 1.3(d) below through the date of Permanent Incapacity, and (ii) the amounts specified in any
benefit and insurance plans applicable to Executive as being payable in the event of the permanent incapacity or disability of
Executive, such sums to be paid in accordance with the provisions of those plans as then in effect.

 

(iv).
Death. If Executive’s employment is terminated by reason of Executive’s death, Executive’s beneficiaries
or estate will be entitled to receive and Company shall pay or cause to be paid to them or it, as the case may be, (i) the amounts
prescribed by Section 1.3(d) through the date of death, and (ii) the amounts specified in any benefit and insurance plans applicable
to Executive as being payable in the event of the death of Executive, such sums to be paid in accordance with the provisions of
those plans as then in effect.

 

(v).
Termination by Executive. Executive may terminate employment with Company upon giving 30 days’ written notice or
such shorter period of notice as Company may accept. Executive may resign for Good Reason subject to Section 1.3(c) and 1.3(d).
If Executive resigns for any reason not constituting Good Reason, Executive shall not be entitled to any severance or other benefits
(other than those required under Section 1.3(d)).

 

(c).
Termination without Cause or by Executive for Good Reason. If Executive’s employment with Company is terminated by
Company without Cause or by Executive for Good Reason, then Executive shall be eligible to: (i) receive severance in the amount
equal to 50% of the sum of Employees Annual Salary and the Annual Bonus which would be received at 100% goal attainment (less
all withholdings and applicable deductions) to be paid as salary continuation (“Severance Payment”); (ii) receive
payment for earned bonuses pursuant to the bonus targets referenced in Section 1.2(b) (“Bonus Payment”); (iii)
direct payment or reimbursement (at Company’s sole discretion) by Company of COBRA costs (if any) for six months (“COBRA
Reimbursement”); and (iv) immediate acceleration of the vesting of any unvested Time Options or Stock Price Target Options
(“Equity Acceleration”). The Severance Payment, Bonus Payment, COBRA Reimbursement and Equity Acceleration
are the only severance or other payments or payments in lieu of notice that Executive will be eligible to receive under this Agreement.
Any right of Executive to the Severance Payment, Bonus Payment, COBRA Reimbursement and Equity Acceleration shall be contingent
on Executive signing, not revoking and complying with a standard form of release agreement with Company.

 

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(d).
Company Obligations upon Termination. Upon termination of Executive’s employment pursuant to any of the circumstances
listed in Section 1.3(b), Executive (or Executive’s estate) shall be entitled to receive: (i) the portion of Executive’s
Annual Salary earned through the date of termination, but not yet paid to Executive, (ii) any expense reimbursements owed to Executive
pursuant to this Agreement, and (iii) any amount accrued and arising from Executive’s participation in, or benefits accrued
under any employee benefit plans, programs or arrangements, which amounts shall be payable in accordance with the terms and conditions
of such employee benefit plans, programs or arrangements.

 

(e).
Statutory Deductions. All payments required to be made to Executive, his beneficiaries, or his estate under this Section
shall be made net of all deductions required to be withheld by applicable law and regulation. Executive shall be solely responsible
for the satisfaction of any taxes (including employment taxes imposed on employees and taxes on nonqualified deferred compensation).
Although Company intends and expects that the Plan and its payments and benefits will not give rise to taxes imposed under Code
Section 409A, neither Company nor its employees, directors, or their agents shall have any obligation to hold Executive harmless
from any or all of such taxes or associated interest or penalties.

 

(f).
Fair and Reasonable, etc. The parties acknowledge and agree that the payment provisions contained in this Section are fair
and reasonable, and Executive acknowledges and agrees that such payments are inclusive of any notice or pay in lieu of notice
or vacation or severance pay to which she would otherwise be entitled under statute, pursuant to common law or otherwise in the
event that his employment is terminated pursuant to or as contemplated in this Section 1.3.

 

1.4
Restrictive Covenants.

 

(a).
Non-Competition. Because of Company’s legitimate business interests and the good and valuable consideration offered
to Executive, during Executive’s employment, Executive shall not engage in Prohibited Activity in the publishing industry
or in the development, implementation, operation, supply and marketing of a business, product or service aggregating third party
content publishers and providing them publishing and monetization services (the “Competing Business”). For
purposes of this Section 1.4, “Prohibited Activity” is activity in which Executive contributes his knowledge
directly and specifically as an employee, employer, owner, operator, manager, advisor, consultant, agent, employee, partner, director,
stockholder, officer, volunteer, intern, or any other similar capacity to an entity engaged in the Competing Business. Nothing
herein shall prohibit Executive from purchasing or owning less than five percent (5%) of the publicly traded securities of any
corporation that engages in the Competing Business, provided that such ownership represents a passive investment and that Executive
is not a controlling person of, or a member of a group that controls, such corporation. Specifically, Executive shall resign from
any advisory roles for a Competing Business for which he is engaged as of the Effective Date.

 

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(b).
Non-Solicitation of Employees. During Executive’s employment and for a period of one year following the termination
of Executive’s employment with Company for any reason, except that such period shall be for six (6) months should Executive
be terminated without Cause or Executive resign for Good Reason, Executive agrees and covenants not to directly or indirectly,
alone or in concert with others, solicit, encourage, influence, recruit, or induce or attempt to solicit, encourage, influence,
recruit or induce, or direct any other person or entity to take any of the aforementioned actions, any employee of Company to
cease working for Company and/or to begin working with any other person or entity. This non-solicitation provision explicitly
covers all forms of oral, written, or electronic communication, including, but not limited to, communications by e-mail, regular
mail, express mail, telephone, fax, instant message, and social media, including, but not limited to, Facebook, LinkedIn, Instagram,
and Twitter, and any other social media platform, whether or not in existence at the time of entering into this Agreement.

 

Notwithstanding
the foregoing, this Section shall not deemed to have been breached or violated by the placement of general advertisements that
may be targeted to a particular geographic or technical area but that are not specifically targeted toward employees of Company.

 

(c).
Non-Solicitation of Customers. Company has a legitimate business interest in protecting its substantial and ongoing customer
relationships. Executive understands and acknowledges that because of Executive’s experience with and relationship to Company,
Executive will have access to and learn about much or all of Company’s customer information. “Customer Information”
includes, but is not limited to, names, phone numbers, addresses, e-mail addresses, order history, order preferences, chain of
command, pricing information, and other information identifying facts and circumstances specific to the customer and relevant
to customer sales and the provision to customers of services.

 

Executive
understands and acknowledges that loss of this customer relationship and/or goodwill will cause significant and irreparable harm.

 

In
exchange for Executive’s employment by Company, and based on Executive’s access to Confidential Information during
Executive’s employment and/or after the termination of Executive’s employment with Company for any reason, Executive
agrees and covenants that, during Executive’s employment and for a period of one year following the termination of Executive’s
employment with Company for any reason, except that such period shall be for six (6) months should Executive be terminated without
Cause or Executive resigns for Good Reason, Executive will not directly or indirectly contact (including but not limited to e-mail,
regular mail, express mail, telephone, fax, instant message, or social media, including but not limited to Facebook, LinkedIn,
Instagram or Twitter, or any other social media platform, whether or not in existence at the time of entering into this Agreement),
attempt to contact, or meet with Company’s customers or prospective customers as described below to solicit, induce or persuade
(or attempt to solicit, induce or persuade) such customers or prospective customers to modify or terminate their business relationship
with Company. Executive acknowledges that the obligations set forth in the Confidentiality Agreement govern Executive’s
actions with respect to performing services for any third party both during and after Executive’s employment with Company.

 

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This
restriction shall only apply to:

 

(i).
Customers Executive contacted in any way during the past 12 months;

 

(ii).
Customers about whom Executive has trade secret or confidential information;

 

(iii).
Customers who became customers during Executive’s employment with Company;

 

(iv).
Customers about whom Executive has information that is not available publicly; and

 

(v).
Prospective customers with whom Executive is engaged in active sales communications or with whom Executive is aware that Company
is otherwise engaged in active sales communications.

 

(d).
Confidential Information; Proprietary Rights. You will have access to the trade secrets, business plans, and production
processes of Company. You will be required to sign a Confidentiality and Proprietary Rights Agreement. Furthermore, you acknowledge
that the Confidentiality and Proprietary Rights Agreement you signed on December 13, 2018 remains in full force and effect.

 

(e).
Acknowledgment by Executive. Executive acknowledges and confirms that: (i) the restrictive covenants contained in this
Section 1.4 are reasonably necessary to protect the legitimate business interests of Company; (ii) the restrictions contained
in this Section 1.4 (including, without limitation, the length of the term of the provisions of this Section 1.4) are not overbroad,
overlong, or unfair and are not the result of overreaching, duress, or coercion of any kind; and (iii) Executive’s entry
into this Agreement and, specifically this Section 1.4, is a material inducement and required condition to Company’s entry
into this Agreement.

 

(f).
Reformation by Court. In the event that a court of competent jurisdiction shall determine that any provision of this Section
1.4 is invalid or more restrictive than permitted under the governing law of such jurisdiction, then only as to enforcement of
this Section 1.4 within the jurisdiction of such court, such provision shall be interpreted and enforced as if it provided for
the maximum restriction permitted under such governing law.

 

(g).
Survival. The provisions of this Section 1.4 shall survive the termination of this Agreement.

 

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(h).
Injunction. It is recognized and hereby acknowledged by the parties hereto that a breach by Executive of any of the covenants
contained in this Section 1.4 will cause irreparable harm and damage to Company, the monetary amount of which may be virtually
impossible to ascertain. As a result, Executive recognizes and hereby acknowledges that Company shall be entitled to an injunction
from any court of competent jurisdiction (without the necessity of posting a bond) enjoining and restraining any violation of
any or all of the covenants contained in this Section 1.4 by Executive or any of Executive’s Affiliates, associates, partners
or agents, either directly or indirectly, and that such right to injunction shall be cumulative and in addition to whatever other
remedies Company may possess.

 

1.5
Definitions. The following capitalized terms used herein shall have the following meanings:

 

(a).
“Affiliate” shall mean, with respect to any Person, any other Person, directly or indirectly, controlling,
controlled by or under common control with such Person.

 

(b).
“Agreement” shall mean this Agreement, as amended from time to time.

 

(c).
“Annual Salary” shall have the meaning specified in Section 1.2(a).

 

(d).
“Board” shall mean the Board of Directors of Company.

 

(e).
“Cause” means the (i) Executive’s willful and continued failure substantially to perform the duties of
Executive under this Agreement (other than any such failure resulting from incapacity due to physical or mental illness); (ii)
Executive’s willful and continued failure to comply with any valid and legal directive of the Chief Executive Officer in
accordance with this Agreement; (iii) Executive’s engagement in dishonesty, illegal conduct, or willful misconduct, which
is, in each case, materially and demonstrably injurious to Company or its Affiliates; (iv) Executive’s embezzlement, misappropriation,
or fraud against Company or any of its Affiliates; (v) Executive’s conviction of or plea of guilty or nolo contendere to
a crime that constitutes a felony (or state law equivalent) or a crime that constitutes a misdemeanor involving moral turpitude
if such felony or misdemeanor is work-related, materially impairs Executive’s ability to perform services for Company, or
results in a material loss to Company or material damage to the reputation of Company; (vi) Executive’s violation of a material
policy of Company that has been previously delivered to Executive in writing if such failure causes material harm to Company;
or (vii) Executive’s material breach of any material obligation under this Agreement or any other written agreement between
Executive and Company. No act or failure to act on the part of Executive shall be considered “willful” unless it is
done, or omitted to be done, by Executive in bad faith or without reasonable belief that Executive’s action or omission
was in the best interests of Company.

 

(f).
“Code” shall have the meaning of the Internal Revenue Code of 1986, as it may be amended from time to time.

 

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(g).
“Company” shall have the meaning specified in the introductory paragraph hereof; provided that, (i) “Company”
shall include any successor to Company and (ii) for purposes of Section 1.5, the term “Company” also shall include
any existing or future subsidiaries of Company that are operating during any of the time periods described in Section 1.1(a) and
any other entities that directly or indirectly, through one or more intermediaries, control, are controlled by or are under common
control with Company during the periods described in Section 1.1(a).

 

(h).
“Good Reason” shall mean any of the following events, which has not been either consented to in advance by
Executive in writing or, with respect only to subsections (i), (ii), (v) or (vi) below, cured by Company within a reasonable period
of time, not to exceed 30 days, after Executive provides written notice within 30 days of the initial existence of one or more
of the following events: (i) a material reduction in Annual Salary or Bonuses for which Executive is eligible; provided, however,
that Company may reduce Executive’s Annual Salary or Bonuses in a force majeure event under Section 2.1 or where the reduction
is consistent with similar compensation reductions among Company’s executive employees; (ii) a material breach of the Agreement
by Company; (iii) requiring Executive to take any action which would violate any federal or state law; (iv) any requirement that
Executive’s duties be performed outside of a 100-mile radius of New York City for more than two (2) days per week on average,
(it being understood that certain weeks will require lengthier stays outside of New York City); or (v) any
material reduction in Executive’s title or scope of responsibility. Good Reason shall not exist unless Executive
terminates his employment within seventy-five (75) days following the initial existence of the condition or conditions that Company
has failed to cure, if applicable.

 

(i).
“Person” shall mean any individual, corporation (including any non-profit corporation), general partnership,
limited partnership, limited liability partnership, joint venture, estate, trust, company (including any limited liability company
or joint stock company), firm or other enterprise, association, organization or entity.

 

Article
2.

MISCELLANEOUS PROVISIONS

 

2.1
Force Majeure. In the event either party is unable to perform its or his obligations under the terms of this Agreement
because of acts of God; act of government; war; natural disaster; pandemics, epidemics or other outbreaks of disease, such party
shall not be liable to the other for any damages resulting from such failure to perform or otherwise from such causes. Company
acknowledges that this Section shall only apply to Executive so long as Company applies it consistently with respect to similarly
situated executives at Company.

 

2.2
Further Assurances. Each of the parties hereto shall execute and cause to be delivered to the other party hereto such instruments
and other documents, and shall take such other actions, as such other party may reasonably request for the purpose of carrying
out or evidencing any of the transactions contemplated by this Agreement.

 

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2.3
Notices. All notices hereunder shall be in writing and shall be sent by (a) certified or registered mail, return receipt
requested, (b) national prepaid overnight delivery service, (c) electronic transmission (following with hard copies to be sent
by prepaid overnight delivery Service) or (d) personal delivery with receipt acknowledged in writing. All notices shall be addressed
to the parties hereto at their respective addresses as set forth below (except that any party hereto may from time to time upon
fifteen days’ written notice change its address for that purpose), and shall be effective on the date when actually received
or refused by the party to whom the same is directed (except to the extent sent by registered or certified mail, in which event
such notice shall be deemed given on the third day after mailing).

 

(a).
If to Company:

 

TheMaven,
Inc.

225
Liberty Street

27th
Floor

New
York, NY 10821

E-mail:
hr@maven.io

 

(b).
If to Executive:

 

Andrew
Q. Kraft

_________________

_________________

 

2.4
Headings. The underlined or boldfaced headings contained in this Agreement are for convenience of reference only, shall
not be deemed to be a part of this Agreement and shall not be referred to in connection with the construction or interpretation
of this Agreement.

 

2.5
Counterparts. This Agreement may be executed in several counterparts, each of which shall constitute an original and all
of which, when taken together, shall constitute one agreement.

 

2.6
Governing Law; Jurisdiction and Venue.

 

(a).
This Agreement shall be construed in accordance with, and governed in all respects by, the internal laws of the State of New York
(without giving effect to principles of conflicts of laws), except to the extent preempted by federal law.

 

(b).
Any legal action or other legal proceeding relating to this Agreement or the enforcement of any provision of this Agreement shall
be brought or otherwise commenced exclusively in any state or federal court located in New York
County, New York.

 

2.7
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors
and assigns (if any). Company will use commercially reasonable efforts to require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of Company expressly to
assume and agree to perform this Agreement in the same manner and to the same extent that Company would have been required to
perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean both Company
as defined above and any such successor that assumes and agrees to perform this Agreement, by operation of law or otherwise. Executive
shall not assign this Agreement or any of Executive’s rights or obligations hereunder (by operation of law or otherwise)
to any Person without the consent of Company.

 

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2.8
Remedies Cumulative; Specific Performance. The rights and remedies of the parties hereto shall be cumulative (and not alternative).
The parties to this Agreement agree that, in the event of any breach or threatened breach by any party to this Agreement of any
covenant, obligation or other provision set forth in this Agreement for the benefit of any other party to this Agreement, such
other party shall be entitled (in addition to any other remedy that may be available to it) to (a) a decree or order of specific
performance or mandamus to enforce the observance and performance of such covenant, obligation or other provision, and (b) an
injunction restraining such breach or threatened breach. The parties to this Agreement further agree that in the event Executive
prevails on any material claim (in a final adjudication) in any legal proceeding brought against Company to enforce Executive’s
rights under this Agreement, Company will reimburse Executive for the reasonable legal fees incurred by Executive in connection
with such proceeding.

 

2.9
Waiver. No failure on the part of any Person to exercise any power, right, privilege or remedy under this Agreement, and
no delay on the part of any Person in exercising any power, right, privilege or remedy under this Agreement, shall operate as
a waiver of such power, right, privilege or remedy and no single or partial exercise of any such power, right, privilege or remedy
shall preclude any other or further exercise thereof or of any other power, right, privilege or remedy. No Person shall be deemed
to have waived any claim arising out of this Agreement, or any power, right, privilege or remedy under this Agreement, unless
the waiver of statutory claim, power, right, privilege or remedy is expressly set forth in a written instrument duly executed
and delivered on behalf of such Person; and any such waiver shall not be applicable or have any effect except in the specific
instance in which it is given.

 

2.10
Code Section 409A Compliance. To the extent amounts or benefits that become payable under this Agreement on account of
Executive’s termination of employment (other than by reason of Executive’s death) constitute a distribution under
a “nonqualified deferred compensation plan” within the meaning of Code Section 409A (“Deferred Compensation”),
Executive’s termination of employment shall be deemed to occur on the date that Executive incurs a “separation from
Service” with Company within the meaning of Treasury Regulation Section 1.409A-1(h). If at the time of Executive’s
separation from service, Executive is a “specified Executive” (within the meaning of Code Section 409A and Treasury
Regulation Section 1.409A-1(i)), the payment of such Deferred Compensation shall commence on the first business day of the seventh
month following Executive’s separation from Service and Company shall then pay Executive, without interest, all such Deferred
Compensation that would have otherwise been paid under this Agreement during the first six months following Executive’s
separation from service had Executive not been a specified Executive. Thereafter, Company shall pay Executive any remaining unpaid
Deferred Compensation in accordance with this Agreement as if there had not been a six-month delay imposed by this paragraph.
If any expense reimbursement by Executive under this Agreement is determined to be Deferred Compensation, then the reimbursement
shall be made to Executive as soon as practicable after submission for the reimbursement, but no later than December 31 of the
year following the year during which such expense was incurred. Any reimbursement amount provided in one year shall not affect
the amount eligible for reimbursement in another year and the right to such reimbursement shall not be subject to liquidation
or exchange for another benefit. In addition, if any provision of this Agreement would subject Executive to any additional tax
or interest under Code Section 409A, then Company shall reform such provision; provided that Company shall (x) maintain,
to the maximum extent practicable, the original intent of the applicable provision without subjecting Executive to such additional
tax or interest and (y) not incur any additional compensation expense as a result of such reformation.

 

    	12

     

    

 

2.11
Amendments. This Agreement may not be amended, modified, altered or supplemented other than by means of a written instrument
duly executed and delivered on behalf of all of the parties hereto.

 

2.12
Severability. In the event that any provision of this Agreement, or the application of any such provision to any Person
or set of circumstances, shall be determined to be invalid, unlawful, void or unenforceable to any extent, the remainder of this
Agreement, and the application of such provision to Persons or circumstances other than those as to which it is determined to
be invalid, unlawful, void or unenforceable, shall not be impaired or otherwise affected and shall continue to be valid and enforceable
to the fullest extent permitted by law,

 

2.13
Parties in Interest. Except as provided herein, none of the provisions of this Agreement are intended to provide any rights
or remedies to any Person other than the parties hereto and their respective successors and assigns (if any).

 

2.14
Entire Agreement. This Agreement sets forth the entire understanding of the parties hereto relating to the subject matter
hereof and supersedes all prior agreements, term sheets and understandings between the parties relating to the subject matter
hereof. Furthermore, this Agreement completely supersedes and invalidates the provisions of Section 2 of the Confidential Separation
Agreement and General Release, dated April 13, 2020 (“Separation Agreement”).

 

2.15
Headings. The headings in this Agreement are for convenience of reference only.

 

.[SIGNATURE
PAGE TO EXECUTIVE

EMPLOYMENT AGREEMENT TO FOLLOW]

 

    	13

     

    

  

[SIGNATURE
PAGE TO EXECUTIVE EMPLOYMENT AGREEMENT]

 

The
parties hereto have caused this Agreement to be executed and delivered as of the date first set forth above.

 

	 	COMPANY:
	 	 	 
	 	THEMAVEN,
    INC.
	 	 	 
	 	By:
    	/s/
    Ross Levinsohn
	 	 	Ross
    Levinsohn
	 	 	Chief
    Executive Officer
	 	 	 
	 	EXECUTIVE:
	 	 	 
	 	/s/ Andrew Kraft
	 	Andrew Kraft

 

    	14

     

    

 

Exhibit
A

 

Chief
Operating Officer Job Description

 

Objectives
of this Role

 

	 	●	Collaborate
    with the CEO and other senior leadership in setting and driving organizational vision, operational strategy, and hiring needs
	 	 	 
	 	●	Translate
    strategy into actionable goals for performance and growth helping to implement organization-wide goal setting, performance
    management, and annual operating planning
	 	 	 
	 	●	Oversee
    company operations and employee productivity, building a highly inclusive culture ensuring team members thrive and organizational
    outcomes are met
	 	 	 
	 	●	Ensure
    effective recruiting, onboarding, professional development, performance management, and retention
	 	 	 
	 	●	Adhere
    to company, federal, state, and local business requirements, enforcing compliance and taking action when necessary

 

Daily
and Monthly Responsibilities

 

	 	●	Analyze
    internal operations and identify areas of process enhancement
	 	 	 
	 	●	Develop
    actionable business strategies and plans that ensure alignment with short-term and long-term objectives developed in tandem
    with the CEO
	 	 	 
	 	●	Supervising
    all daily operations of the company, including product, HR, information technology, vendor procurement, marketing and sales
	 	●	Manage
    capital investment and expenses to ensure the company achieves targets relative to growth and profitability
	 	 	 
	 	●	Monitor
    performance with tracking and establish corrective measures as needed, and prepare detailed reports, both current and forecasting
	 	 	 
	 	●	Maintain
    and build trusted relationships with key Company personnel, customers, clients, partners, and stakeholders

 

    	15Exhibit 10.111

 

TheMaven,
Inc.

 

Proposal
for Publisher Warrant Program

 

Background
- Prior Warrant Program

 

The
warrant program previously approved by the board authorized the issuance of up to 2 million shares of common stock to an unlimited
number of persons (the “Prior Program”).

 

Management
proposes terminating the Prior Program for the following reasons:

 

	 	●	Administration
    of the Prior Program has proved burdensome
	 	 	 
	 	●	All
    warrants issued under the Prior Program are deep under water and not serving to motivate holders
	 	 	 
	 	●	The
    terms of the warrants under the Prior Program no longer reflect the optimal structure for the company

 

Warrants
for up to a total of 4,340,500 shares were issued under the Prior Program. As of September 30, 2018, warrants for 1,566,192 shares
were outstanding and the remainder had been returned to the pool.

 

Proposed
New Warrant Program

 

Management
is asking the board to approve a new warrant program to incentivize and compensate the performance of publishers by providing
them with the opportunity to earn Maven stock based on their performance (the “New Program”). The warrants
under the New Program (“New Warrants”) may be issued to existing publishers in order to augment their existing
position as well as to new publishers, in each instance for a number of shares deemed appropriate by management.

 

It
is intended that enterprise level publishers will not be eligible to participate in the program, although exceptions may be made.

 

The
New Program:

 

	 	● 	Warrants
    will be granted in batches twice per year (each a “Warrant Issuance Date”) – for example January
    1 and July 1
	 	 	 
	 	 	 	○	Each
    publisher will be granted a warrant as of the first Warrant Issuance Date following their “go live” date.
	 	 	 	 	 
	 	 	 	○	This
    simplifies administration and also ensures sites going live later in the year don’t have a truncated Earning Date calculation
    (see below) for the first December 31 after they launch.
	 	 	 	 	 
	 	● 	There
    will be three earning dates for each warrant: February 15 in each year following issuance (each an “Earning Date”),
    based on a measure date of the preceding December 31 (each a “Measure Date”), provided the applicable warrant
    had been issued as of the applicable Measure Date.
	 	 	 
	 	 	 	○ 	i.e.,
    the first Measure Date for a warrant issued January 1, 2019 will be December 31, 2019 and the first Earning Date will be February
    15, 2020

 

    	 

     

    

 

	 	●	1/3
    of the warrant shares will be allocated to and eligible to be earned on each of the three Earning Dates.
	 	 	 
	 	●	On
    each Earning Date:
	 	 	 
	 	 	 	○	The
    number of earned shares is calculated at a rate of 3,333 shares for every 100,000 average unique users, measured across the
    three calendar months immediately preceding the applicable Measure Date.
	 	 	 	 	 
	 	 	 	○	Earned
    shares are capped at the number of warrant shares allocated to that Earning Date.
	 	 	 	 	 
	 	 	 	○	Any
    unearned shares are lost and return to the pool.
	 	 	 	 	 
	 	 	 	○	Any
    earned shares are immediately exercisable for the rest of the warrant term, provided that any earned shares for which warrants
    are exercised will be subject to a lock up through December 31 of the year of the applicable Earning Date.
	 	 	 	 	 
	 	 	 	○	Publisher
    must be in good standing as of the applicable Earning Date in order to earn and vest shares.
	 	 	 	 	 
	 	●	Warrant
    term is 5 years, subject to early termination in the event that the Publisher’s partner agreement is terminated.
	 	 	 
	 	●	The
    maximum number of shares available to be earned under the warrant must be determined at issuance.
	 	 	 
	 	 	 	○ 	We
    need to be sure to judge this correctly, as unearned shares will not be available again until after the respective Earning
    Dates.
	 	 	 	 	 
	 	● 	Management
    proposed that the board approve a pool of up to 5 million shares for the new warrant program allowing management to issue
    warrants up that number without further approval.

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