Document:

Document

Exhibit 10.3

AMENDED AND RESTATED EMPLOYMENT AGREEMENT
AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”), dated as of June 15, 2021 and effective as of July 1, 2021 (the “Effective Date”), between News Corporation, a Delaware corporation (the “Company”), with offices at 1211 Avenue of the Americas, New York, NY 10036, and David B. Pitofsky, residing at the address that is on file with the Company (the “Executive”).
W I T N E S S E T H:
WHEREAS, the Executive is currently employed as Executive Vice President, General Counsel and Chief Compliance Officer of the Company pursuant to an employment agreement between the Company and the Executive, dated as of November 9, 2017 (the “Prior Agreement”); and
WHEREAS, the Company and the Executive desire to amend and restate the Prior Agreement.
NOW, THEREFORE, in consideration of the premises and mutual agreements hereinafter contained, the parties hereto agree as follows:
1.    Duties. 
(a)    The Company agrees to employ the Executive and the Executive agrees to be employed by the Company for the Term (as hereinafter defined). During the Term, the Executive shall: (i) have the title and the duties of Executive Vice President, General Counsel and Chief Compliance Officer of the Company; and (ii) report directly to the Chief Executive Officer of the Company. 
(b)    If the Executive is elected as a member of the board of directors or an officer of the Company or any subsidiaries or affiliates, the Executive agrees to serve in such capacity or capacities without additional compensation. 
(c)    During the Term the Executive shall devote substantially all of the Executive’s business time and attention and give the Executive’s best efforts and skill to furthering the business and interests of the Company and to the performance of executive duties consistent with the Executive’s position as Executive Vice President, General Counsel and Chief Compliance Officer of the Company and the terms of this Agreement.

2.    Term. “Term” as used herein shall mean the period from the Effective Date through June 30, 2024 (the “Term End Date”); provided, however, if the Term is terminated earlier in accordance with this Agreement, the Term shall mean the period from the Effective Date through the effective date of such earlier termination. The Term shall be terminated earlier only in accordance with Sections 8 and 9. Not later than six (6) months prior to the end of the Term, the parties hereto shall begin discussions to determine whether they are interested in continuing the employment of the Executive after the Term, and if so, they shall enter into good faith negotiations with respect to such continuing employment. Following the completion of the Term, except to the extent set forth in this Agreement (including, without limitation, Section 10(i)), (i) the provisions of this Agreement will automatically expire and (ii) in the absence of a new written employment contract signed by both the Executive and an authorized representative of the Company, any continued employment with the Company will be at will, of no fixed term and may be terminated (with at least ten (10) business days’ prior written notice) at any time by either the Executive or the Company for any or no reason. 
3.    Location. The Executive shall be based and essentially render services in the New York City metropolitan area at the principal office maintained by the Company in such area.  The Executive will travel as reasonably required to perform the Executive’s functions hereunder.
4.    Compensation. 
(a)    Base Salary. As compensation for the Executive’s services, the Executive shall receive a base salary (the “Base Salary”) at an annual rate of not less than $1,200,000, which shall be reviewed annually, to be paid in the same manner as other senior executives of the Company are paid (which shall be no less frequently than monthly). 
(b)    Annual Bonus. In addition, the Executive will be eligible to receive an annual bonus (the “Annual Bonus”) with a target (the “Annual Bonus Target”) of not less than $1,200,000, which shall be reviewed annually. The actual payout of the Annual Bonus will be calculated based upon the metrics and targets established and approved by the Compensation Committee. Any Annual Bonus granted shall be paid in cash at the same time as other senior executives of the Company are paid, and in all events no later than March 15 of the calendar year following the calendar year in which the applicable fiscal year ends.
(c)    Long-Term Incentive. The Executive shall also be entitled to receive an annual award (the “Equity Bonus”) under the Company’s 2013 Long-Term Incentive Plan, as amended, or any other Company performance-based long-term equity-based incentive program (the “Plan”), in accordance with the terms and conditions of the Plan, that has a target of not less than $1,600,000, which shall be reviewed annually. The Equity Bonus shall be in a form and subject to terms and conditions, including claw-back provisions, determined by the Company and consistent with those of equity awards to comparable senior executives of the Company. 
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5.     Other Benefits. The Executive shall be entitled to the following benefits (collectively, the “Benefits”):
(a)    The Executive shall be entitled to participate in all of the following incentive or benefit plans or arrangements presently in effect or hereafter adopted by the Company or its applicable affiliates and to such other perquisites as are applicable to other senior executives of the Company of equal rank, including, but not limited to, any profit-sharing, pension, group medical, dental, disability and life insurance or other similar benefit plans, subject to the terms of the applicable plans and arrangements. 
(b)    The Executive shall be entitled to six (6) weeks of paid vacation annually, subject to the terms of the Company’s vacation policy. All accrued vacation days should be used in the year in which they are earned as the Company does not allow carryover of unused vacation days or provide for a cash payout in respect of such days upon a termination of employment. 
6.    Business Expenses. During the Term, the Company shall pay, or reimburse the Executive for, all expenses reasonably and necessarily incurred by the Executive in connection with the Executive’s performance of the Executive’s duties hereunder. Such business expenses shall be reimbursed as provided in Section 23(f).
7.    Confidentiality; Certain Restrictions/Covenants.
(a)    The Executive shall hold all of the Company’s Confidential Information (as hereinafter defined) in strictest confidence, and will not, directly or indirectly, take, publish, use or disclose any of the Company’s Confidential Information at any time after the termination of the Executive’s employment, for any reason, except as may be required by law, provided that upon learning of any such legal requirement, the Executive shall promptly provide the Company with written notice to the Company of any such legal requirement in enough time for it to try to obtain an appropriate protective order or other remedy. For purposes of this Agreement, the phrase “Confidential Information” means personal information regarding past and present executives of the Company and its affiliates, including their family members, all trade secrets and information on costs, pricing, and materials, supplier information, customer lists and customer information, vendor lists and vendor information, employee lists and employee information, market share reports, customer contract terms and rates, account management, financial information, audit information, research, development, marketing plans, promotion plans, and/or compilations of information that was disclosed to or acquired by the Executive during or in the course of the Executive’s employment that relates to the business of the Company and is not generally available to the public or generally known in the Company’s industry. 
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(b)    Confidential Information does not include that information which the Executive can affirmatively prove by clear and convincing evidence:  (i) is, at the time of disclosure, in the public domain other than as a result of disclosure (whether by act or omission) by the Executive or by other persons to whom the Executive has disclosed such information; (ii) was available to the Executive without an obligation of confidentiality prior to the Executive’s employment with the Company; (iii) is independently developed by the Executive having had no access to any Confidential Information and without the use of any such information; or (iv) becomes available to the Executive without an obligation of confidentiality from a source, other than the Company, having the legal right to disclose such information. 
(c)    Pursuant to 18 U.S.C. § 1833(b), the Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret of the Company or any of its subsidiaries that (i) is made (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to the Executive’s attorney and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. If the Executive files a lawsuit for retaliation by the Company or any of its subsidiaries for reporting a suspected violation of law, the Executive may disclose the trade secret to the Executive’s attorney and use the trade secret information in the court proceeding, if the Executive files any document containing the trade secret under seal and does not disclose the trade secret except under court order. Nothing in this Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such section.
(d)    All papers, books, records, files, proposals or other documents, and all computer software, software applications, files, databases, and the like relating to the business and affairs of the Company or which contain Confidential Information, whether prepared by the Executive or otherwise coming into the Executive’s possession, shall remain the exclusive property of the Company and shall not be removed from its premises except as necessary for the performance of the Executive’s responsibilities and in furtherance of the interests of the Company. Upon the termination of the Executive’s employment for any reason, the Executive will immediately surrender and turn over to the Company any property of the Company which the Executive may have in the Executive’s possession, custody or control, no matter where located, and whether in electronic, paper or other format, including but not limited to, records, files, drawings, documents, models, disks, computers and other equipment, and the Executive shall not keep any copies or portions thereof, including any material contained on the Executive’s personal computer which is currently located at the Executive’s residence, if any, including any files the Executive may have saved or downloaded from the Company’s computer system. 
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(e)    While the Executive is employed by the Company and after the Executive’s employment terminates for whatever reason, the Executive agrees not to publicly criticize the Company, its affiliates or subsidiaries, and their respective officers, directors, stockholders or employees and agrees further not to cause material harm to the Company by speaking of any such party in an unflattering way. This requirement will not prohibit the Executive from providing truthful testimony if required by law, and subject to the Executive’s obligation to provide the Company prior notice of such legal requirement pursuant to Section 7(a).  In addition, nothing in this Agreement or in any other agreement between the Executive and the Company will prohibit the Executive from reporting to any governmental agency or governmental entity information concerning possible violations of law or regulation.
(f)    In order to protect the Company’s goodwill with its clients, vendors and employees, during the Term and for one (1) year following termination of the Executive’s employment for any reason, the Executive shall not, directly or indirectly, either personally or on behalf of any other entity (whether as a director, stockholder, owner, partner, consultant, principal, employee, agent or otherwise), engage in any of the following conduct: (a) canvass, solicit or accept any business on behalf of any of the Company’s competitors from any business or organization that had interacted with the Company during the last three (3) years of the Executive’s employment provided, however that this provision does not conflict with Executive’s professional, ethical rights and responsibilities; (b) solicit or recruit for employment, hire, employ, attempt to employ, or engage or attempt to engage as a contractor or consultant any individual employed by the Company or its affiliates, or entice or suggest to such individual to terminate his or her employment with the Company; or (c) take any action which is intended, or would reasonably be expected to, adversely affect the Company, its subsidiaries, or their respective businesses, reputation, or relationship with their clients, business partners or vendors. 
(g)    During the Term, the Executive shall not engage, and shall not solicit any employees of the Company or its affiliates to engage, in any other commercial activities that may in any way interfere with the performance of the Executive’s duties or responsibilities to the Company. 
(h)    The Executive shall at all times be subject to, comply with and carry out such rules, regulations, policies, directions and restrictions applicable to the Company’s employees generally as the Company may from time to time establish, including, without limitation, the Company’s Standards of Business Conduct, Electronic Communications Policy and Claw-back Policies, as well as those imposed by law. The Executive acknowledges that the Executive has received copies of such policies, and has reviewed, understands and will comply with such policies.
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(i)    The Executive acknowledges that the relationship between the Executive and the Company is exclusively that of employer and employee and that the Company’s obligations to the Executive are exclusively contractual in nature. The Company shall be the sole owner of all the fruits and proceeds of the Executive’s services hereunder, including, but not limited to, all ideas, concepts, formats, suggestions, developments, arrangements, designs, packages, programs, promotions and other intellectual properties which the Executive may create in connection with the Executive’s services hereunder and during the Term, free and clear of any claims by the Executive (or anyone claiming under the Executive) of any kind or character whatsoever (other than the Executive’s right to compensation hereunder). The Executive shall, at the request of the Company, execute such assignments, certificates or other instruments as the Company may from time to time deem necessary or desirable to evidence, establish, maintain, perfect, protect, enforce or defend its right, title and interest in or to any such properties.
(j)    The Company shall have the right to use the Executive’s name, biography and likeness in connection with its business, including in advertising its products and services, and may grant this right to others, but not for use as a direct endorsement.
8.    Termination by the Company. The Executive’s employment hereunder may be terminated by the Company without any breach of this Agreement only under the following circumstances:
(a)    The Executive’s employment hereunder shall terminate upon the Executive’s death.
(b)    If, as a result of the Executive’s incapacity and disability due to physical or mental illness, the Executive fails to perform the Executive’s duties hereunder for a period of seven (7) months during the Term and is unable to provide the Company with a note from the Executive’s treating physician that provides for a definite and reasonable return to work date, the Company may terminate the Executive’s employment hereunder.
(c)    The Company may terminate the Executive’s employment hereunder for “cause” (as hereinafter defined). For purposes of this Agreement, “cause” shall mean: (i) the Executive is convicted of, or pleads guilty or nolo contendere to, a felony or crime involving moral turpitude; (ii) the Executive engages in conduct that constitutes willful neglect or willful misconduct in carrying out the Executive’s duties under this Agreement, and such breach remains uncured following fifteen (15) days prior written notice given by the Company to the Executive specifying such breach, provided such breach is capable of being cured; (iii) the Executive has breached any material representation, warranty, covenant or term of this Agreement, including among other things, a breach of written Company policy, and such breach remains uncured following twenty-one (21) days’ prior written notice specifying such breach given by the Company to the Executive, provided such breach is capable of being cured; (iv) the Executive’s act of fraud or deceit in the performance of the Executive’s job duties; (v) the Executive intentionally engages in conduct which impacts negatively and materially on the reputation or image of the Company, its affiliates or any of their respective products; and/or (vi) the Executive’s use of or addiction to illegal drugs. 
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(d)    The Company may terminate the Executive’s employment other than for cause, death or disability, subject to Section 10(d).
(e)    Any termination of the Executive’s employment by the Company (other than termination pursuant to subsection (a) of this Section 8) shall be communicated by a written Notice of Termination to the Executive. For purposes of this Agreement, a “Notice of Termination” shall mean a notice that shall indicate the specific termination provision in this Agreement relied upon and shall set forth in full detail the facts and circumstances claimed to provide the basis for termination of the Executive’s employment under the provision so indicated.
(f)    “Date of Termination” shall mean (i) if the Executive’s employment is terminated by the Executive’s death, the date of the Executive’s death, or (ii) if the Executive’s employment is terminated pursuant to subsections (b), (c) or (d) of this Section 8 or by the Executive pursuant to Section 9, the date specified in the Notice of Termination. 
9.     Termination by the Executive.
(a)    At the Executive’s option, and provided the following occurrences satisfy the “Good Reason” safe harbor within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and Section 1.409A-1(n)(2)(ii) of the Treasury Regulations promulgated thereunder, the Executive may terminate the Executive’s employment without any breach of this Agreement only under the following circumstances:
(i)    in the event of a material breach of the Agreement by the Company;
(ii)    if the Executive is required to be based and primarily render services in areas other than within 50 miles of the New York City metropolitan area; or
(iii)    if there is a material diminution in the Executive’s duties thereby diminishing the Executive’s role (other than during a period of the Executive’s mental or physical incapacity). 
(b)    Any Good Reason termination of the Executive’s employment by the Executive shall be communicated by a written Notice of Termination delivered to the Chief Human Resources Officer and the Chief Executive Officer of the Company within ninety (90) days of the condition giving rise to such Good Reason first occurring, and the Company shall have thirty (30) days from such notice to cure the condition giving rise to such Good Reason, as set forth in Section 1.409A-1(n)(ii)(2)(C) of the Treasury Regulations. If the Good Reason condition remains uncured following such cure period, in order to resign for Good Reason the Executive must actually terminate employment no later than thirty (30) days following the end of such cure period.
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10.    Compensation upon Termination.
(a)    If the employment of the Executive is terminated pursuant to Section 8(a), by reason of the Executive’s death, the Company agrees to pay directly to the Executive’s surviving spouse (or to another recipient designated in writing by the Executive from time to time), or if the Executive’s spouse shall not survive the Executive, then to the legal representative of the Executive’s estate: (i) for a period of twelve (12) months (commencing with the Date of Termination) an amount equal to and payable at the same rate as the Executive’s then current Base Salary; (ii) any Annual Bonus payable but not yet paid with respect to any fiscal year ended prior to the Date of Termination (the “Unpaid Prior Year Bonus”), payable no later than the time specified in Section 4(b); (iii) a pro rata portion of the Annual Bonus Executive would have earned for the fiscal year of termination had no termination occurred (calculated based on the then-current Annual Bonus Target and the number of days the Executive was employed by the Company in the fiscal year during which the Date of Termination occurs compared to the total number of days in such fiscal year) (the “Pro-rated Current Year Bonus”), payable no later than the September 15 of the fiscal year following the fiscal year of the Date of Termination; and (iv) continued vesting of any Equity Bonus awards or awards under the Plan that were granted prior to the Date of Termination for a period of one (1) year following the Date of Termination, with payments made at the same times they would have been made had the Executive continued to be employed through such date (and, for the avoidance of doubt, any such awards that would not have been payable but for continued employment through such date shall be forfeited). The foregoing payments shall be in addition to what the Executive's spouse, beneficiaries or estate may be eligible to receive pursuant to any employee benefit plan or life insurance policy then provided to the Executive or maintained by the Company. The payments provided for in this Section 10(a) shall fully discharge the obligations of the Company and its affiliates hereunder and the Company and its affiliates shall be under no obligation to provide any further compensation to the Executive, the Executive’s surviving spouse or the legal representative of the Executive’s estate. 
(b)    During any period that the Executive fails to perform the Executive’s duties hereunder as a result of incapacity and disability due to physical or mental illness, the Company shall continue to provide to the Executive the then current Base Salary and the Benefits until the Executive returns to the Executive’s duties or until the Executive’s employment is terminated pursuant to Section 8(b); provided, however, that should the Executive fail to perform the Executive’s duties but remain employed for a period of twelve (12) months, the Company will cease paying the Base Salary. In addition, if the Executive’s employment is terminated pursuant to Section 8(b), the Executive shall receive: (A) any Unpaid Prior Year Bonus, payable no later than the time specified in Section 4(b); (B) the Pro-rated Current Year Bonus, payable no later than the September 15 of the fiscal year following the fiscal year of the Date of Termination; and (C) with respect to Equity Bonus awards or awards under the Plan, vesting, payment and other terms as provided for herein or under the terms of the applicable Plan documents. The foregoing payments shall be in addition to what the Executive may be eligible to receive pursuant to any disability benefit plan then provided to the Executive or maintained by the Company. The payments provided for in this Section 10(b) shall fully discharge the obligations of the Company and its affiliates hereunder and the Company and its affiliates shall be under no obligation to provide any further compensation to the Executive. 
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(c)    If the Executive’s employment shall be terminated for cause pursuant to Section 8(c) or if the Executive shall resign other than for Good Reason pursuant to Section 9, the Executive shall receive the then current Base Salary and the Benefits through the Date of Termination and any Unpaid Prior Year Bonus, payable no later than the time specified in Section 4(b). The payments provided for in this Section 10(c) shall fully discharge the obligations of the Company and its affiliates hereunder and the Company and its affiliates shall be under no obligation to provide any further compensation to the Executive. 
(d)    If the Company shall terminate the Executive’s employment pursuant to Section 8(d), or if the Executive shall terminate the Executive’s employment hereunder for Good Reason pursuant to Section 9, the Executive shall receive: (i) the greater of (A) the then current Base Salary and the Annual Bonus in the same manner as though the Executive continued to be employed hereunder through the Term End Date and (B) each of the then current Base Salary and the Annual Bonus paid in the same manner as though the Executive continued to be employed hereunder for the successive twenty-four (24) months following the Date of Termination, in each case with the Annual Bonus payment(s) based on the then current Annual Bonus Target; provided that each Annual Bonus payment shall be made in the fiscal year following the fiscal year relating to such Annual Bonus, in no event later than September 15 of such fiscal year; (ii) any Unpaid Prior Year Bonus, payable no later than the time specified in Section 4(b)); (iii) the Pro-rated Current Year Bonus, payable no later than the September 15 of the fiscal year following the fiscal year of the Date of Termination; (iv) continued vesting of any Equity Bonus awards or awards under the Plan that were granted prior to the Date of Termination in the same manner as though the Executive continued to be employed hereunder through the later of the Term End Date or one (1) year following the Date of Termination, with payments made at the same times they would have been made had the Executive continued to be employed through such date (and, for the avoidance of doubt, any Equity Bonus awards that would not have been payable but for continued employment through such date shall be forfeited); and (v) Company-paid premiums under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, for the Executive and the Executive’s eligible dependents for up to the successive eighteen (18) months following the Date of Termination, which amounts shall either be paid directly or reimbursed to the Executive by the Company. The payments provided for in this Section 10(d) shall fully discharge the obligations of the Company and its affiliates hereunder and the Company and its affiliates shall be under no obligation to provide any further compensation to the Executive. 
(e)    A precondition to the Company’s obligation to pay compensation and provide benefits to the Executive (or the Executive’s surviving spouse or the legal representative of the Executive’s estate) pursuant to this Section 10 (other than accrued but unpaid Base Salary) shall be the execution and non-revocation by the Executive, or as the case may be, the Executive’s surviving spouse or the legal representative of the Executive’s estate, of the Company’s then standard separation agreement and general release (which shall include, among other provisions, non-solicitation restrictions for the duration of post-termination compensation and benefits) and the continued compliance with the terms, conditions and covenants set forth therein. 
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(f)    For the avoidance of doubt, any post-employment bonus payments or equity grants that vest or remain eligible for vesting will remain subject to the Company’s claw-back policies and terms and conditions of the applicable Plan documents. 
(g)    Without duplicating any benefits set forth in this Section 10, upon any termination of employment, the Executive (or the Executive’s spouse, beneficiaries or estate) will be entitled to any unreimbursed business expenses approved in accordance with the Company’s policy and due the Executive through termination and to receive any benefits vested, and to make all elections and receive all payments and rights under all employee benefit, pension, insurance and other plans in which the Executive participated in accordance with the terms and conditions of the plan concerned. Such business expenses shall be reimbursed as provided in Section 23(f). 
(h)    The Executive shall have no duty to mitigate the Executive’s damages hereunder and any income earned by the Executive following the Executive’s termination without cause (as defined in Section 8(c)) or the Executive’s resignation for Good Reason pursuant to Section 9 shall not reduce the compensation payable to the Executive hereunder. 
(i)    If, following the completion of the Term on the Term End Date, the Executive is not offered a new employment agreement by the Company on terms at least as favorable to the Executive as the terms set forth herein and the Executive is subsequently terminated without cause, then the Executive will be entitled to receive the payments and benefits set forth in Section 10(d) above (using the same Base Salary and Annual Bonus Target as in effect immediately prior to the expiration of the Term on the Term End Date).  
11.    Survival of Agreement. This Agreement shall inure to the benefit of the Company and any other successors and general assigns of the Company or any other corporation or entity which is a parent, subsidiary or affiliate of the Company to which this Agreement is assigned, and any other corporation or entity into which the Company may be merged or with which it may be consolidated. For purposes of clarity, the Company may assign this Agreement in the event of an asset or stock sale of all or a majority of the Company to the controlling corporation or entity surviving or resulting from such asset or stock sale. The terms, conditions, promises and covenants set forth in Sections 7 through 23 shall survive the termination of this Agreement and the Executive’s employment (in accordance with their respective terms) for any reason.
12.    Indemnity; Cooperation. 
(a)    The Company will indemnify and defend the Executive to the extent permitted under and in accordance with the formation documents, charters, bylaws or applicable insurance policies of the Company and any applicable law or statute affording the Executive a right of indemnification and defense, including but not limited to Section 145 of Title 8 of the Delaware Chancery Code, for any acts or omissions made by the Executive in good faith in the course of the Executive’s employment with the Company. 
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(b)    During the Term and for a period of three (3) years after the termination of the Executive’s employment for any reason, and during all reasonable times thereafter, and at all times observing the professional ethics requirements of his job, the Executive will (i) fully cooperate with the Company in providing truthful testimony as a witness or a declarant in connection with any present or future litigation, administrative or arbitral proceeding involving the Company or any of its affiliates with respect to which the Executive may have relevant information and (ii) assist the Company during the investigatory and discovery phases (or prior thereto) of any judicial, administrative, internal, arbitral or grievance proceeding involving the Company or any of its affiliates and with respect to which the Executive may have relevant information. The Company will, within thirty (30) days of the Executive producing receipts satisfactory to the Company, reimburse the Executive for any reasonable and necessary expenses incurred by the Executive in connection with such cooperation.
(c)    Without limiting any other provision of this Agreement, this Section 12 shall survive the termination or expiration of this Agreement for any reason whatsoever.
13.    Notices. All notices, requests, demands or other communications provided for hereby shall be in writing and shall be deemed to have been duly given (a) when delivered personally, (b) one (1) day after having been sent by telegram, telecopy or similar electronic means, or by overnight courier service against receipt, or (c) four (4) days after having been sent within the continental United States by first-class certified mail, return receipt requested, postage prepaid, to the other party. Any notices to the Company shall be sent to the Chief Human Resources Officer and the Chief Executive Officer of the Company at the principal executive offices of the Company. Any notices to the Executive shall be sent to the last known address of the Executive on record with the Company.
14.    Governing Law. This Agreement shall be enforced, governed by and construed in accordance with the laws of the State of New York. Each party hereby submits to the exclusive jurisdiction of the Supreme Court of the State of New York, and the United States District Court for the Southern District of New York, for the purpose of enforcement of this Agreement and waives, and agrees not to assert, as a defense in any such action or proceeding, that such party was not subject to the personal jurisdiction of any such court or that venue is improper for lack of residence, inconvenient forum or otherwise. The parties also agree that service of process (the method by which a party may be served with any such court papers) may be made by overnight mail at the applicable address set forth in Section 13. The Company may also have other rights and remedies it may have at any time against the Executive, whether by law or under this Agreement.
15.    Construction. Each party acknowledges that such party has participated with, at its option, the advice of counsel, in the preparation of this Agreement. The language of all provisions of this Agreement shall in all cases be construed as a whole, extending to it its fair meaning, and not strictly for or against either of the parties. The parties agree that they have jointly prepared and approved the language of the provisions of this Agreement and that should any dispute arise concerning the interpretation of any provision hereof, neither party shall be deemed the drafter nor shall any such language be presumptively construed in favor of or against either party.
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16.    Severability. The conditions and provisions set forth in this Agreement shall be severable, and if any condition or provision or portion thereof shall be held invalid or unenforceable, then said condition or provision shall not in any manner affect any other condition or provision and the remainder of this Agreement and every section thereof construed without regard to said invalid condition or provision, shall continue in full force and effect.
17.    Assignment. Neither party shall have the right, subject to Section 11, to assign the Executive’s rights and obligations with respect to the Executive’s actual employment duties without the prior consent of the other party.
18.    Entire Agreement. This Agreement constitutes the entire understanding between the parties hereto with respect to the subject matter hereof, and this Agreement supersedes and renders null and void any and all prior oral or written agreements, understandings or commitments pertaining to the subject matter hereof between the Executive and the Company or any of its affiliates, including, without limitation, the Prior Agreement. No waiver or modification of the terms or provisions hereof shall be valid unless in writing signed by the party so to be charged thereby and then only to the extent therein set forth.
19.    Withholding and Payroll Practices. All salary, severance payments, bonuses or benefits provided by the Company under this Agreement shall be net of any tax or other amounts required to be withheld by the Company under applicable law and shall be paid in the ordinary course pursuant to the Company’s then existing payroll practices or as otherwise specified in this Agreement.
20.    Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.
21.    Headings. Headings in this Agreement are for reference only and shall not be deemed to have any substantive effect.
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22.    Section 280G. 
(a)    Notwithstanding any other provisions of this Agreement to the contrary, in the event that it shall be determined that any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (the “Payments”), would constitute an “excess parachute payment” within the meaning of Section 280G of the Code, the Company shall reduce (but not below zero) the aggregate present value of the Payments under the Agreement to the Reduced Amount (as hereinafter defined), if reducing the Payments under this Agreement will provide the Executive with a greater net after-tax amount than would be the case if no such reduction was made. The Payments shall be reduced as described in the preceding sentence only if (1) the net amount of the Payments, as so reduced (and after subtracting the net amount of federal, state and local income and payroll taxes on the reduced Payments), is greater than or equal to (2) the net amount of the Payments without such reduction (but after subtracting the net amount of federal, state and local income and payroll taxes on the Payments and the amount of Excise Tax (as hereinafter defined) to which the Executive would be subject with respect to the unreduced Payments). Any reduction shall be made in accordance with Section 409A of the Code.
(b)    The “Reduced Amount” shall be an amount expressed in present value that maximizes the aggregate present value of Payments without causing any Payment under this Agreement to be subject to the Excise Tax, determined in accordance with Section 280G(d)(4) of the Code. The term “Excise Tax” means the excise tax imposed under Section 4999 of the Code, together with any interest or penalties imposed with respect to such excise tax. 
(c)    All determinations to be made under this Section 22 shall be made by an independent registered public accounting firm or consulting firm selected by the Company immediately prior to a change in control, which shall provide its determinations and any supporting calculations both to the Company and the Executive within ten (10) days of the change in control. Any such determination by such firm shall be binding upon the Company and the Executive. All fees and expenses of the accounting or consulting firm in performing the determinations referred to in this Section 22 shall be borne solely by the Company. 
23.    Section 409A.
(a)    This Agreement is intended to comply with Section 409A of the Code, and will be interpreted accordingly. References under this Agreement to the Executive’s termination of employment shall be deemed to refer to the date upon which the Executive has experienced a “separation from service” within the meaning of Section 409A of the Code.
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(b)    Notwithstanding anything herein to the contrary, (i) if at the time of the Executive’s separation from service with the Company, the Executive is a “specified employee” as defined in Section 409A of the Code (and any related regulations or other pronouncements thereunder) and the deferral of the commencement of any payments or benefits otherwise payable hereunder or payable under any other compensatory arrangement between the Executive and the Company, or any of its affiliates as a result of such separation from service is necessary in order to prevent any accelerated or additional tax under Section 409A of the Code, then the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) until the date that is six (6) months following the Executive’s separation from service (or the earliest date as is permitted under Section 409A of the Code), at which point all payments deferred pursuant to this Section shall be paid to the Executive in a lump sum and (ii) if any other payments of money or other benefits due to the Executive hereunder could cause the application of an accelerated or additional tax under Section 409A of the Code, such payments or other benefits shall be deferred if deferral will make such payment or other benefits compliant under Section 409A of the Code, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner that does not cause such an accelerated or additional tax. Any payments deferred pursuant to the preceding sentence shall be paid together with interest thereon at a rate equal to the applicable Federal rate for short-term instruments.
(c)    To the extent any reimbursements or in-kind benefits due to the Executive under this Agreement constitute “deferred compensation” under Section 409A of the Code, any such reimbursements or in-kind benefits shall be paid to the Executive in a manner consistent with Treas. Reg. Section 1.409A-3(i)(1)(iv). Additionally, to the extent that the Executive’s receipt of any in-kind benefits from the Company or its affiliates must be delayed pursuant to this Section due to the Executive’s status as a “specified employee”, the Executive may elect to instead purchase and receive such benefits during the period in which the provision of benefits would otherwise be delayed by paying the Company (or its affiliates) for the fair market value of such benefits (as determined by the Company in good faith) during such period. Any amounts paid by the Executive pursuant to the preceding sentence shall be reimbursed to the Executive (with interest thereon) as described above on the date that is six (6) months following the Executive’s separation from service.
(d)    Each payment made under this Agreement shall be designated as a “separate payment” within the meaning of Section 409A of the Code.
(e)    The Company shall consult with the Executive in good faith regarding the implementation of the provisions of this Section. Without limiting the generality of the foregoing, the Executive shall notify the Company if the Executive believes that any provision of this Agreement (or of any award of compensation, including equity compensation, or benefits) would cause the Executive to incur any additional tax under Section 409A of the Code and, if the Company concurs with such belief after good faith review or the Company independently makes such determination, then the Company shall, after consulting with the Executive, use reasonable best efforts to reform such provision to comply with Section 409A of the Code through good faith modifications to the minimum extent reasonably appropriate to conform with Section 409A of the Code.
14

(f)    Any amount that the Executive is entitled to be reimbursed for any business-related expenses borne by the Executive under this Agreement will be reimbursed to the Executive as promptly as practicable and in any event not later than the last day of the calendar year after the calendar year in which the expenses are incurred. The amount of expenses eligible for reimbursement during any calendar year will not affect the amount of expenses eligible for reimbursement in any other calendar year.
(g)    Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within thirty (30) days following the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of the Company.
(h)    Unless this Agreement provides a specified and objectively determinable payment schedule to the contrary, to the extent that any payment of base salary or other compensation is to be paid for a specified continuing period of time beyond the Executive’s termination of employment in accordance with the Company’s payroll practices (or other similar term), the payments of such base salary or other compensation shall be made on a monthly basis.
(i)    To the extent that severance payments or benefits pursuant to this Agreement are conditioned upon the execution and delivery by the Executive of a separation agreement and general release (and the expiration of any revocation rights provided therein) which could become effective in one of two (2) taxable years of the Executive depending on when the Executive executes and delivers such separation agreement and general release, any deferred compensation payment (which is subject to Section 409A of the Code) that is conditioned on execution of the separation agreement and general release shall be made within ten (10) days after the separation agreement and general release becomes effective and such revocation rights have lapsed, but not earlier than the first business day of the later of such taxable years. 
24.    Representations.  The Company represents that the Company’s execution and delivery of this Agreement and the performance of its obligations hereunder: (a) has been authorized by all required corporate action on the part of the Company; and (b) will not conflict with, result in any breach of, or constitute a default under, any contract, agreement or arrangement to which the Company is a party.  The Executive represents that the Executive’s execution and delivery of this Agreement and the performance of the Executive’s obligations hereunder will not conflict with, result in any breach of, or constitute a default under, any contract, agreement or arrangement to which the Executive is a party.  

[Signature page follows]
 
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IN WITNESS WHEREOF, the parties hereto have affixed their signatures as of the day and year first above written.

									
	NEWS CORPORATION
		DAVID B. PITOFSKY

			
			
	By:  /s/ Dana Ritzcovan
		/s/ David B. Pitofsky

	Name: Dana Ritzcovan
		
	Title: Chief Human Resources OfficerExhibit
10.1

 

ASSET
PURCHASE AGREEMENT

 

This
ASSET PURCHASE AGREEMENT (this “Agreement”) is dated as of August 6, 2021 by and between Informa Pop Culture
Events, Inc., a corporation organized under the laws of the State of Delaware (the “Buyer”) and Kick the Can
Corp., a corporation organized under the laws of the State of Nevada (the “Seller”)

 

RECITALS

 

WHEREAS,
the Seller owns, operates and produces the pop culture events known as Wizard World Chicago, Wizard World Cleveland, Wizard
World New Orleans, Wizard World Philadelphia, Wizard World Portland and Wizard World St. Louis (each, an “Event”
and, collectively, the “Events”); and

 

WHEREAS,
the Buyer desires to purchase, and the Seller desires to sell, transfer and assign to the Buyer, certain assets, properties and rights
of the Seller used in or otherwise relating to its business of operating and producing the Events, upon the terms and conditions set
forth in this Agreement.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is acknowledged, the parties, intending to be legally
bound, hereby agree as follows:

 

ARTICLE
1

DEFINITIONS

 

1.1
Defined Terms. For purposes of this Agreement, the following terms have the meanings specified or referred to in this Section
1.1:

 

“Affiliate”:
Means, with respect to any Person (the “specified Person”), any other Person directly or indirectly controlling, controlled
by, or under direct or indirect common control with the specified Person and shall include (i) any Person owning beneficially or of record,
directly or indirectly, greater than twenty-five percent (25%) of the equity interest in the specified Person, (ii) any Person of which
the specified Person (or their Affiliate) shall own beneficially or of record, directly or indirectly, greater than twenty-five percent
(25%) of the equity interest; provided, however, for the Seller, Affiliate does not include any investor in Wizard Brands, Inc.,
solely by virtue of their investment in Wizard Brands, Inc. A Person will be deemed to “control” another Person if that Person
possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of the other Person, whether
through the ownership of voting securities, by contract or otherwise.

 

“Agreed
Claim”: As defined in Section 7.5.3.

 

“Agreement”:
As defined in the preamble to this Agreement.

 

“Allocation
Schedule”: As defined in Section 8.4.

 

    	 

     

    

 

“Arbiter”:
Means a nationally recognized independent accounting firm mutually acceptable to the Buyer and the Seller.

 

“Assignment
and Assumption Agreement”: As defined in Section 3.3.1(d).

 

“Assumed
Chicago 2021 Contracts”: As defined in Section 2.1(d).

 

“Assumed
Contracts”: Means, collectively, the Assumed Chicago 2021 Contracts and the Assumed Legacy Contracts.

 

“Assumed
Legacy Contracts”: Means, collectively, the Assumed Legacy Floor Space Contracts, the Assumed Legacy Ticket Contracts and
the Assumed Legacy Venue Contracts.

 

“Assumed
Legacy Floor Space Contracts”: As defined in Section 4.10.7.

 

“Assumed
Legacy Ticket Contracts”: As defined in Section 4.10.8.

 

“Assumed
Legacy Venue Contracts”: As defined in Section 2.3(d).

 

“Assumed
Liabilities”: As defined in Section 2.3.

 

“Business
Day”: Means any day other than a Saturday, Sunday or other day on which banks located in New York, New York are authorized
or required by Law to close.

 

“Buyer”:
As defined in the preamble to this Agreement.

 

“Buyer
Indemnitee”: As defined in Section 7.2.

 

“Closing”:
As defined in Section 3.2.

 

“Closing
Date”: As defined in Section 3.2.

 

“Competitive
Business”: As defined in Section 6.3.

 

“Contract”:
Means any agreement, contract, instrument, obligation, promise, or undertaking (whether written or oral and whether express or implied).

 

“Damages”:
As defined in Section 7.2.

 

“Databases”
means all lists and databases of the Seller’s customers, vendors, suppliers, exhibitors, sponsors, venue owners, advertisers, speakers,
attendees, contractors and service providers relating to and only for the Events (whether individually or collectively).

 

“Direct
Claim”: As defined in Section 7.5.1.

 

“Direct
Claim Notice”: As defined in Section 7.5.1.

 

    	2

     

    

 

“Disclosure
Memorandum”: As defined in the first paragraph of Article 4.

 

“E-commerce
Retained Business”: As defined in Section 2.2.

 

“Encumbrance”:
Means any charge, claim, lien, pledge, security interest, mortgage, easement, right of way, option, right of first refusal, or restriction
or adverse claim of any kind, or any other encumbrance or exception to title of any kind.

 

“Estimated
Closing Statement”: As defined in Section 3.4.

 

“Event”
or “Events”: As defined in the Recitals of this Agreement.

 

“Event
Employees”: Means Seller’s employees who are responsible for the Events and listed on Part 1.1 of the Disclosure
Memorandum (which list shall include the name and daily compensation rate of such Persons, which shall be used to determine the aggregate
amount of the Event Employees Stub Period Obligations hereunder).

 

“Event
Employees Stub Period Obligations”: As defined in Section 2.2.

 

“Excluded
Assets”: As defined in Section 2.2.

 

“Excluded
Liabilities”: As defined in Section 2.4.

 

“Files
and Records”: Means the existing physical and electronic files, documents, books and other records of the Seller relating
to and only for the Events (whether individually or collectively), including without limitation: (i) all Databases; (ii) historical sales,
pricing, royalty and other financial records and data; (iii) reasonably accessible, material correspondence files with exhibitors, sponsors,
advertisers, speakers, prospects and venue owners; (iv) current advertising, promotional and programming materials; and (v) current schematics,
technical information and data, competitor information, strategic information, operating guides, studies and reports.

 

“Final
Closing Statement”: As defined in Section 3.4.

 

“Final
Closing Statement Deficit”: Means, in the event the aggregate Pre-Closing Sales Proceeds exceed the aggregate Event Employees
Stub Period Obligations, an amount equal to (x) the aggregate Pre-Closing Sales Proceeds minus (y) the aggregate Event Employees Stub
Period Obligations.

 

“Final
Closing Statement Surplus”: Means, in the event the aggregate Event Employees Stub Period Obligations exceed the aggregate
Pre-Closing Sales Proceeds, an amount equal to (x) the aggregate Event Employees Stub Period Obligations minus (y) the aggregate Pre-Closing
Sales Proceeds.

 

“Financial
Statements”: As defined in Section 4.4.

 

“GAAP”:
Means U.S. generally accepted accounting principles, applied on a consistent basis.

 

    	3

     

    

 

“Governmental
Body”: Means any: (i) nation, state, county, city, town, village, district, or other jurisdiction of any nature; (ii) federal,
state, local, municipal, foreign, or other government; (iii) governmental or quasi-governmental authority of any nature (including any
governmental agency, branch, department, official, or entity and any court or other tribunal); or (iv) body exercising, or entitled to
exercise, any administrative, executive, judicial, legislative, police, regulatory, or taxing authority or power of any nature.

 

“Indemnified
Party”: As defined in Section 7.4.1.

 

“Indemnifying
Party”: As defined in Section 7.4.1.

 

“Intellectual
Property”: Means any of the following rights in any jurisdiction: (i) patents and patent applications; (ii) trademarks,
service marks, trade dress, corporate, trade, and business names and other indicia of origin, whether registered or unregistered, and
all registrations and applications for the same and all associated goodwill; (iii) all internet domain names and social media accounts;
(iv) all works of authorship, whether registered as copyrights or unregistered, and all pending applications for the same and all associated
moral rights and special rights of authorship; (v) Trade Secrets; and (vi) all other intellectual property and proprietary rights recognized
by Law.

 

“Internal
Revenue Code”: Means the Internal Revenue Code of 1986, as amended, or any successor law, and regulations issued by the
Internal Revenue Service pursuant to the Internal Revenue Code or any successor law.

 

“Knowledge”:
The Seller will be deemed to have “Knowledge” of a particular fact or other matter if Scott Kaufman or Peter Katz is aware
of such fact or other matter after due and appropriate inquiry. The Buyer will be deemed to have “Knowledge” of a particular
fact or other matter if Stuart Poyser or Aman Gupta is aware of such fact or other matter after due and appropriate inquiry.

 

“Law”:
Means any federal, state, local, municipal, foreign, international, multinational, or other administrative order, constitution, law,
ordinance, principle of common law, court order, consent, decree, regulation, license, permit, statute, or treaty.

 

“Legacy
Floor Space Contract Schedule”: As defined in Section 4.10.7.

 

“Legacy
Ticket Contract Schedule”: As defined in Section 4.10.8.

 

“Non-Event
Entities”: the direct and indirect subsidiaries of Wizard Brands, Inc. solely to the extent such subsidiaries are not and
have never been involved in the Events or any substantially similar business to the Events.

 

“Order”:
Means any award, decision, injunction, judgment, order, ruling, subpoena, or verdict entered, issued, made, or rendered by any Governmental
Body or by any arbitrator.

 

    	4

     

    

 

“Overlap
Period”: Means any taxable year or other taxable period beginning on or before and ending after the Closing Date.

 

“Permit”:
Means any approval, consent, license, permit, certification, registration, waiver, or other authorization issued, granted, given, or
otherwise made available by or under the authority of any Governmental Body or pursuant to any Law.

 

“Person”:
Means any individual, corporation (including any non-profit corporation), general or limited partnership, limited liability company,
joint venture, estate, trust, association, organization, labor union, or other entity or Governmental Body.

 

“Pre-Closing
Admission Ticket Sales Proceeds”: As defined in Section 2.1.

 

“Pre-Closing
Floor Space Sales Proceeds”: As defined in Section 2.1.

 

“Pre-Closing
Sales Proceeds”: As defined in Section 2.1.

 

“Privacy
and Security Laws”: Means Laws regarding collecting, accessing, using, disclosing, electronically transmitting, securing,
sharing, transferring and storing personally identifiable data, including federal, state or foreign Laws or regulations regarding (i)
data privacy and information security, (ii) data breach notification (as applicable), and/or (iii) trespass, computer crime and other
Laws governing unauthorized access to or use of electronic data.

 

“Proceeding”:
Means any action, arbitration, audit, hearing, investigation, litigation, or suit (whether civil, criminal, administrative, investigative,
or informal) commenced, brought, conducted, or heard by or before, or otherwise involving, any Governmental Body or arbitrator.

 

“Purchased
Assets”: As defined in Section 2.1.

 

“Region”:
As defined in the Recitals of this Agreement.

 

“Releasees”:
As defined in Section 6.2.

 

“Released
Claims”: As defined in Section 6.2.

 

“Representatives”:
Means officers, directors, employees, consultants, and agents.

 

“Restricted
Party”: As defined in Section 6.3.

 

“Retained
Business”: As defined in Section 2.2.

 

“Seller”:
As defined in the preamble to this Agreement.

 

“Seller
Indemnitee”: As defined in Section 7.3.

 

“Tangible
Event Property”: As defined in Section 2.1(e).

 

    	5

     

    

 

“Tax”:
Means any tax (including any income tax, capital gains tax, value-added tax, sales tax, property tax, gift tax or transfer tax), levy,
assessment, tariff, duty (including any customs duty), deficiency, or other fee, and any related charge or amount (including any fine,
penalty, interest, or addition to tax), imposed, assessed, or collected by or under the authority of any Governmental Body or payable
pursuant to any tax-sharing agreement or any other Contract relating to the sharing or payment of any such tax, levy, assessment, tariff,
duty, deficiency, or fee.

 

“Tax
Return”: Means any return (including any information return), report, statement, schedule, notice, form, or other document
or information filed with or submitted to, or required to be filed with or submitted to, any Governmental Body in connection with the
determination, assessment, collection, or payment of any Tax or in connection with the administration, implementation, or enforcement
of or compliance with any Law relating to any Tax.

 

“Third-Party
Claim”: As defined in Section 7.4.1.

 

“Third-Party
Claim Notice”: As defined in Section 7.4.1.

 

“Trade
Secrets”: Means any trade secrets or other proprietary and confidential information, including unpatented inventions, invention
disclosures, financial data, technical data, personal information, customer lists, supplier lists, business plans, know-how, formulae,
methods (whether or not patentable), designs, processes, procedures, source code, object code, and data collections.

 

“Transaction
Documents”: Means, collectively, this Agreement (including the Disclosure Memorandum) and all other agreements, documents
and instruments contemplated by Section 3.3.

 

“Transfer
Taxes”: As defined in Section 8.1.

 

1.2
Construction. In interpreting this Agreement, the following rules of construction shall apply:

 

1.2.1
Where the context requires, the use of the singular form in this Agreement will include the plural, the use of the plural will
include the singular, and the use of any gender will include any and all genders.

 

1.2.2
The word “including” (and, with correlative meaning, the word “include”) means that the generality of any
description preceding such word is not limited, and the words “shall” and “will” are used interchangeably
and have the same meaning.

 

1.2.3
References in this Agreement to “Articles”, “Sections” or “Exhibits” shall be to Articles,
Sections or Exhibits of or to this Agreement unless otherwise specifically provided.

 

1.2.4
References in this Agreement to “dollars” or “$” shall mean United States Dollars.

 

    	6

     

    

 

ARTICLE
2

SALE
OF PURCHASED ASSETS AND ASSUMPTION OF ASSUMED LIABILITIES

 

2.1
Sale of Purchased Assets. Upon the terms and subject to the conditions of this Agreement, the Buyer agrees to purchase,
and the Seller agrees to sell, transfer and assign to the Buyer, on the Closing Date (except as specifically set forth in Section 3.4),
the Purchased Assets and all of the Seller’s right, title and interest in and to the Purchased Assets, free and clear of any Encumbrances
of any kind whatsoever (except as set forth in the Disclosure Memorandum). The “Purchased Assets” shall mean
all of the Seller’s right, title and interest in and to the following assets:

 

(a)
Intentionally omitted;

 

(b)
Files and Records;

 

(c)
the Assumed Legacy Contracts;

 

(d)
all attendee and exhibitor Contracts related to and only for the Wizard World Chicago 2021 Event, in each case only to the extent such
Contracts are expressly listed on Part 2.1(d) of the Disclosure Memorandum (collectively, the “Assumed Chicago 2021 Contracts”);

 

(e)
all signs, exhibit booths, registration kiosks and other similar assets used in the operation of the Events, in each case solely to the
extent set forth on Part 2.1(e) of the Disclosure Memorandum (collectively, the “Tangible Event Property”);

 

(f)
all goodwill associated with the Events;

 

(g)
all prepaid expenses, advances, credits and deposits relating to and only for the Events in the Regions as of the Closing Date;

 

(h)
all accounts receivable relating to and only for the Events;

 

(i)
all cash and cash equivalent receivables from the sale of admission tickets (minus any Taxes attributable to such sales, which Seller
hereby agrees to pay to the applicable Governmental Body owed such Taxes in accordance with the last sentence of Section 8.2 hereof)
for the Wizard World Chicago 2021 Event collected by Seller during the period between June 24, 2021 and Closing, to the extent and in
the amount reflected on the Final Closing Statement (“Pre-Closing Admission Ticket Sales Proceeds”);

 

(j)
all cash and cash equivalent receivables from the sale of convention floor space (minus any Taxes attributable to such sales, which Seller
hereby agrees to pay to the applicable Governmental Body owed such Taxes in accordance with the last sentence of Section 8.2 hereof)
for the Wizard World Chicago 2021 Event collected by Seller during the period between June 24, 2021 and Closing, to the extent and in
the amount reflected on the Final Closing Statement (“Pre-Closing Floor Space Sales Proceeds” and collectively
with Admission Ticket Sales, the “Pre-Closing Sales Proceeds”);

 

    	7

     

    

 

2.2.
Excluded Assets. Notwithstanding anything herein to the contrary, the Purchased Assets shall not include any of the following,
whether owned by, held by or relating to the Seller (collectively, the “Excluded Assets”):

 

(a)
all cash and cash equivalents of the Seller other than the Pre-Closing Sales Proceeds;

 

(b)
all real property owned, leased, occupied or controlled by the Seller;

 

(c)
all tangible personal property other than the Tangible Event Property;

 

(d)
all rights in and to all Intellectual Property of Seller, including, without limitation, the “Wizard World” trademark;

 

(e)
all Contracts other than the Assumed Contracts;

 

(f)
to the extent not otherwise listed as Purchased Assets in Section 2.1, all of the Seller’s right, title and interest in and to
(x) the assets related to Seller’s e-commerce businesses, including, but not limited to, those currently operated under the names
Wizard World Vault, Wizard World Virtual Experiences, Wizard World Live Stream and Wizard World NFTs (the “E-commerce Retained
Business”); and (y) all assets related to Non-Event Entities and the internal operations of Wizard Brands, Inc. and its
Affiliates, (collectively with the E-commerce Retained Business, and the Unrelated Retained Business, the “Retained Business”);
and

 

(g)
the corporate seals, organizational documents, minute books, stock books, Tax Returns, books of account or other records having to do
with the corporate organization of Seller, all employee-related or employee benefit-related files or records, and any other books and
records which Seller is prohibited from disclosing or transferring to Buyer under applicable Law and is required by applicable Law to
retain.

 

2.3.
Assumption of Liabilities. Upon the terms and subject to the conditions of this Agreement, the Buyer agrees, effective
at the Closing, to (or to cause its permitted assignees to) assume and pay, perform and discharge when due, only the following liabilities
and obligations of the Seller (collectively, the “Assumed Liabilities”):

 

(a)
all liabilities and obligations under the Assumed Chicago 2021 Contracts, including unfulfilled obligations in respect of the currently
scheduled Wizard World Chicago 2021 Event represented by the Pre-Closing Admission Ticket Sales Proceeds and the Pre-Closing Floor Space
Sales Proceeds, except that the Buyer shall not assume or pay, discharge or perform any liabilities or obligations arising out of any
breach by the Seller of any provision of any Assumed Contract;

 

    	8

     

    

 

(b)
all liabilities and obligations under the Assumed Legacy Ticket Contracts, except that (i) the Buyer shall not assume or pay, discharge
or perform any obligations arising out of any of the Assumed Legacy Ticket Contracts with respect to deferred revenue liabilities for
admissions tickets sold by the Seller in respect of editions of the Events that were cancelled or postponed due to the COVID-19 pandemic
that exceed, in the aggregate, the amount set forth on Part 2.3(b) of the Disclosure Memorandum and (ii) Buyer shall not assume or pay,
discharge or perform any liabilities or obligations arising out of any breach by the Seller of any provision of any Assumed Legacy Ticket
Contract (other than to the extent that the cancellation or postponement of any edition of the Event is considered a breach of any such
Assumed Legacy Ticket Contract);

 

(c)
all liabilities and obligations under the Assumed Legacy Floor Space Contracts, except that (i) the Buyer shall not assume or pay, discharge
or perform any obligations arising out of any of the Assumed Legacy Floor Space Contracts with respect to deferred revenue liabilities
for convention floor space sold by the Seller in respect of editions of the Events that were cancelled or postponed due to the COVID-19
pandemic that exceed, in the aggregate, the amount set forth in Part 2.3(c) of the Disclosure Memorandum and (ii) Buyer shall not assume
or pay, discharge or perform any liabilities or obligations arising out of any breach by the Seller of any provision of any Assumed Legacy
Floor Space Contract (other than to the extent that the cancellation or postponement of any edition of the Event is considered a breach
of any such Assumed Legacy Floor Space Contract);

 

(d)
all liabilities and obligations under the venue Contracts as set forth on Part 2.3(d)(1) of the Disclosure Memorandum (the “Assumed
Legacy Venue Contracts”), except that (i) the Buyer shall not assume or pay, discharge or perform any obligations arising
out of any of the Assumed Legacy Venue Contracts with respect to accounts payable liabilities that exceed, in the aggregate, the amount
set forth in Part 2.3(d)(2) of the Disclosure Memorandum and (ii) Buyer shall not assume or pay, discharge or perform any liabilities
or obligations arising out of any breach by the Seller of any provision of any Assumed Legacy Venue Contract (other than to the extent
that the cancellation or postponement of any edition of the Event is considered a breach of any such Assumed Legacy Venue Contract);
and

 

(e)
all employment related liabilities and obligations with respect to Event Employees in respect of the period beginning as of August 1,
2021 through and including the Closing Date, to the extent and in the amount reflected on the Final Closing Statement (“Event
Employees Stub Period Obligations”).

 

    	9

     

    

 

2.4.
Excluded Liabilities. Notwithstanding anything contained herein to the contrary, other than the Assumed Liabilities, the
Buyer shall not assume, or cause to be assumed, or be deemed to have assumed or caused to have assumed or be liable or responsible for
any liabilities or obligations (whether known or unknown, fixed, absolute, matured, unmatured, accrued or contingent, now existing or
arising after the date hereof) of the Seller or any of its Affiliates, including the following (such obligations and liabilities not
assumed hereunder, the “Excluded Liabilities”):

 

(a)
any liabilities or obligations incurred in connection with the operation of the Events on or prior to the Closing Date, except to the
extent such liabilities or obligations expressly constitute Assumed Liabilities;

 

(b)
any liabilities or obligations relating to any current or former employee or independent contractor of the Seller or any of its Affiliates,
other than the Event Employees Stub Period Obligations;

 

(c)
any Taxes (i) attributable to the Events or the Purchased Assets with respect to any period ending on or prior to the Closing Date or
(ii) otherwise imposed on the Seller or any of its Affiliates;

 

(d)
any liabilities or obligations related to the Excluded Assets;

 

(e)
any liabilities or obligations arising out of or relating to any Contract which is not an Assumed Contract;

 

(f)
any liabilities or obligations related to any Proceeding or claim pertaining to or affecting any of the Events, the Purchased Assets,
the Seller or any of its Affiliates, to the extent based on any fact or event arising prior to the Closing Date, whether the commencement
of such Proceeding or claim is before or after the Closing Date, except to the extent such liabilities or obligations expressly constitute
Assumed Liabilities; and

 

(g)
any liabilities or obligations of the Seller or any its Affiliates with respect to indebtedness, whether for borrowed money or otherwise,
except to the extent such liabilities or obligations expressly constitute Assumed Liabilities.

 

ARTICLE
3

CONSIDERATION;
CLOSING; POST-CLOSING

 

3.1
Consideration. The sole and exclusive consideration for the sale, transfer and assignment of the Purchased Assets to the
Buyer shall be the assumption, payment, performance and discharge by the Buyer (or its permitted assignees to) of the Assumed Liabilities
when due pursuant to Section 2.3 above. The Seller acknowledges that no monetary or any other form of consideration (other than reimbursement
for the Event Employees Stub Period Obligations which shall be paid in accordance with Section 3.3 below) shall be payable or otherwise
owed to the Seller by the Buyer in connection with the sale, transfer and assignment of the Purchased Assets to the Buyer.

 

3.2
Closing. The closing of the purchase and sale provided for in this Agreement (the “Closing”)
is being held simultaneously with the execution and delivery of this Agreement on the date hereof (the “Closing Date”).
The parties have elected to effect the Closing by exchanging facsimile and/or other electronic executed signature pages of the Transaction
Documents on the date hereof. The Closing shall be deemed effective as of 12:00:01 a.m. Eastern Prevailing Time on the Closing Date.

 

    	10

     

    

 

3.3
Closing Obligations.

 

3.3.1
Deliveries to the Buyer. At the Closing, the Seller will deliver to the Buyer each of the following:

 

(a)
evidence satisfactory to the Buyer that each of the consents and notices identified in Part 4.3.2 of the Disclosure Memorandum has been
obtained or delivered, as applicable;

 

(b)
a certificate of the appropriate state official, dated as of a date not more than fifteen (15) days prior to the Closing Date, attesting
to the existence and good standing of the Seller in the State of Delaware;

 

(c)
a signed copy of the Bill of Sale in the form attached hereto as Exhibit A, duly executed by the Seller;

 

(d)
a signed counterpart to the Assignment and Assumption Agreement in the form attached hereto as Exhibit B (the “Assignment
and Assumption Agreement”), duly executed by the Seller;

 

(e)
a signed copy of the Assignment of Databases in the form attached hereto as Exhibit C, duly executed by the Seller;

 

3.3.2 Deliveries
to the Seller. At the Closing, the Buyer will deliver to the Seller each of the following:

 

(a)
a signed counterpart to the Assignment and Assumption Agreement, duly executed by the Buyer; and

 

(b)
a certificate of the appropriate state official, dated as of a date not more than fifteen (15) days prior to the Closing Date, attesting
to the existence and good standing of the Buyer in its state of incorporation.

 

3.4
Post-Closing Obligations.

 

(a)
The Seller and Buyer agree that the estimated amounts of the Pre-Closing Admission Ticket Sales Proceeds, Pre-Closing Floor Space Sales
Proceeds, and Employee Stub Period Obligations as of the Closing Date are as set forth on the Estimated Closing Statement, attached to
Part 3.4 of the Disclosure Memorandum (the “Estimated Closing Statement”). Within ten (10) Business Days following
the Closing, the Seller shall provide to the Buyer in writing the final amounts for the Pre-Closing Admission Ticket Sales Proceeds,
Pre-Closing Floor Space Sales Proceeds, and Employee Stub Period Obligations (the “Final Closing Statement”).
The parties agree to cooperate in good faith to resolve any dispute concerning the Final Closing Statement. If there is any dispute concerning
the Final Closing Statement that has not been resolved by the parties by the date that is thirty (30) days after the delivery of the
Final Closing Statement to the Buyer, then either party shall be permitted to submit such dispute to a court of competent jurisdiction
in accordance with Section 9.11.

 

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(b)
Within five (5) Business Days following the delivery of the Final Closing Statement, (x) if there is a Final Closing Statement Deficit,
then the Seller shall pay to the Buyer an amount equal to the Final Closing Statement Deficit or (y) in the event there is a Final Closing
Statement Surplus, the Buyer shall pay the Seller an amount equal to Final Closing Statement Surplus.

 

(c)
All payments required under this Section 3.4 shall be made in cash by wire transfer of immediately available funds to such bank account(s)
as shall be designated in writing by the recipient(s) prior to the applicable payment date.

 

ARTICLE
4

REPRESENTATIONS
AND WARRANTIES OF THE SELLER

 

Except
as set forth in the disclosure memorandum delivered by the Seller to the Buyer concurrently with the execution and delivery of this Agreement
(the “Disclosure Memorandum”), the Seller hereby represents and warrants to the Buyer as follows:

 

4.1
Organization and Good Standing. The Seller is a corporation validly existing and in good standing under the laws of the
State of Nevada.

 

4.2
Authority; Enforceability.

 

4.2.1
Power and Authority. Each Transaction Document and each other agreement and instrument to be executed by the Seller in connection
herewith has been duly and validly authorized by the Seller and has been (or upon execution will have been) duly and validly executed
and delivered by the Seller. The Seller has the necessary corporate power and authority to execute and deliver each of the Transaction
Documents to which it is a party and to perform its obligations thereunder.

 

4.2.2
Enforceability. Each Transaction Document and each other agreement and instrument to be executed by the Seller in connection herewith,
constitutes (or upon execution will constitute) the legal, valid, and binding obligation of the Seller, enforceable against the Seller
in accordance with its respective terms (assuming the due authorization, execution and delivery by the other party hereto and thereto),
subject to applicable bankruptcy, insolvency, reorganization, moratorium and similar Laws affecting creditors’ rights and remedies
generally.

 

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4.3
No Conflict; Consents.

 

4.3.1
Except as set forth on Part 4.3.1 of the Disclosure Memorandum, neither the execution and delivery of any Transaction Document nor the
consummation or performance of any of the transactions contemplated by the Transaction Documents will, directly or indirectly (with or
without notice or lapse of time): (a) contravene, conflict with, or result in a violation of any (i) provision of the certificate of
formation, operating agreement or other similar organizational documents of the Seller or (ii) resolution adopted by the managers or
the members of the Seller, (b) contravene, conflict with, or result in a violation of any Law or any Order to which the Seller or any
of the assets owned or used by the Seller may be subject or bound, (c) contravene, conflict with, or result in a violation or breach
of any provision of, or give any Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or
performance of, or to cancel, terminate, or modify, any Assumed Contract or any Permit necessary to operate the Events, or (d) result
in the imposition or creation of any Encumbrance upon or with respect to any of the Purchased Assets; except in the cases of clauses
(b), (c) and (d), where the contravention, conflict, violation, breach, conflict, default, acceleration, cancelation, termination, modification,
or imposition would not be material to the Events or the Purchased Assets.

 

4.3.2
Except as set forth on Part 4.3.2 of the Disclosure Memorandum, the Seller is not required to give notice to, or obtain consent from,
any Person in connection with the execution and delivery of this Agreement or any of the other Transaction Documents, or the consummation
or performance of any of the transactions contemplated hereby or thereby, except where the failure to give such notice or obtain such
consent would not be material to the Events or the Purchased Assets.

 

4.4
Financial Statements. The Seller has delivered to the Buyer the profit and loss statements in respect of the Events held
in calendar years 2018, 2019 and 2020 (collectively, the “Financial Statements”). The Financial Statements
are true and correct in all material respects for the periods covered thereby and were prepared in accordance with the books and records
of the Seller in respect of the Events. The Financial Statements are attached to Part 4.4 of the Disclosure Memorandum.

 

4.5
Title to Purchased Assets; Sufficiency of Assets.

 

4.5.1
Title to Purchased Assets. The Seller is in possession of and has good title to, or has valid leasehold interests in or valid
rights under Contract to use, all of the Purchased Assets, free and clear of all Encumbrances (other than as set forth on the Disclosure
Memorandum and imperfections of title or Encumbrances, if any, that have not had, and would not have, a material adverse effect), and
will convey the same to the Buyer as of the Closing Date.

 

4.5.2
Sufficiency of Assets. Except as set forth on Part 4.5.2 of the Disclosure Memorandum, the sale and transfer of the Purchased
Assets will constitute a conveyance to the Buyer, free and clear of any Encumbrances (other than the Excluded Assets and as set forth
on the Disclosure Memorandum and imperfections of title or Encumbrances, if any, that have not had, and would not have, a material adverse
effect), of all the assets, properties, interests and rights owned or used or held for use by the Seller. From and after the Closing,
to Seller’s Knowledge, no Person shall have any right, title or interest in or right to use any Purchased Assets other than the
Buyer.

 

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4.6
Taxes. The Seller has duly and timely filed all Tax Returns required to be filed with respect to the income or operations
of the Events or the ownership of the Purchased Assets. All such Tax Returns were complete and correct in all material respects at the
time of filing. All Taxes due and payable with respect to taxable periods covered by such Tax Returns, or with respect to which the Seller
is or might be otherwise be liable for such periods, have been timely paid or are being contested in good faith. The Seller is not delinquent
in the payment of any Tax relating to and only for the Events, nor has any Tax deficiency been asserted in writing, or, to the Seller’s
Knowledge, threatened against the Seller. No Encumbrances for Taxes exist with respect to any of the Purchased Assets (other than Encumbrances
for Taxes, assessments, or governmental charges or claims that are not yet due and payable). None of the Purchased Assets are “United
States real property interests” within the meaning of Section 897(c) of the Internal Revenue Code.

 

4.7
Compliance with Laws. To its Knowledge, the Seller is in compliance, in all material respects, with each Law that is or
was applicable to the operation of the Events or the ownership or use of any of the Purchased Assets. No Proceeding, charge, complaint,
claim, demand or notice has been filed or commenced against the Seller alleging such non-compliance.

 

4.8
Legal Proceedings; Orders. There is no Proceeding pending or, to the Knowledge of the Seller, threatened and, during the
five year period ending on the date hereof, there has been no, Proceeding: (a) that has been commenced by or against the Seller or that
otherwise relates to or may affect the Events or any of the Purchased Assets; or (b) that challenges, or that may have the effect of
preventing, delaying, making illegal, or otherwise interfering with, any of the transactions contemplated by the Transaction Documents;
in each case which if determined adversely to Seller would be material to any of the Events or the Purchased Assets. The Seller is not
subject to any Order (with the exception of the generally applicable Covid-19 pandemic-related Orders) applicable specifically to the
Events or any of the Purchased Assets.

 

4.9
Absence of Changes. Since January 1, 2019, with the exception of the changes due to the COVID-19 pandemic, the Seller has
operated the Events only in the ordinary course consistent with past practice and, with the exception of the COVID-19 pandemic, there
has not been any event or circumstance that has had, or could result in, a material adverse effect on the Events.

 

4.10
Contracts.

 

4.10.1
Assumed Contracts. Prior to the execution and delivery of this Agreement, the Buyer has been provided with (i) true and complete
copies of all written Assumed Contracts, together with all amendments, supplements and modifications thereto (and true and complete summaries
of all oral amendments, supplements and modifications), and (ii) true and complete written descriptions of all oral Assumed Contracts.

 

4.10.2
No Defaults. The Seller is, and at all times has been, in compliance in all material respects with the terms and requirements
of each Assumed Contract under which the Seller has or had any obligation or liability or by which the Seller or any of the assets owned
or used by the Seller is or was bound. To the Seller’s Knowledge, each other Person that has or had any obligation or liability
under any Assumed Contract under which the Seller has or had any rights is, and at all times has been, in compliance in all material
respects with the terms and requirements of such Assumed Contract. No event has occurred or circumstance exists that (with or without
notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give the Seller or, to the
Seller’s Knowledge, any other Person the right to declare a default or exercise any remedy under, or to accelerate the maturity
or performance of, or to cancel, terminate, or modify, any Assumed Contract.

 

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4.10.3
Standard Contracts. A sample set of existing exhibitor, sponsor and speaker Contracts used or intended to be used with respect
to and only for the Events are contained in Part 4.10.3 of the Disclosure Memorandum.

 

4.10.4
Barter Contracts. Part 4.10.4 of the Disclosure Memorandum sets forth each Contract relating to and only for the Events to which
the Seller is party relating to the exchange of goods or services of the Seller in exchange for other goods and services of another Person,
without the use of money.

 

4.10.5
No Non-Compete Restrictions. No Assumed Contract contains any non-compete or other similar provision which restricts the ability
of the Seller (or any of its assignees) to materially engage in any business or activity.

 

4.10.6
No Other Material Contracts. The Seller is not a party to any Contract which is material to the other than the Assumed Contracts.

 

4.10.7
Assumed Legacy Floor Space Contracts. Part 4.10.7(a) of the Disclosure Memorandum (the “Legacy Floor Space Contract
Schedule”) sets forth each Contract with any Person who purchased convention floor space from Seller in respect of editions
of the Events that were cancelled or postponed due to the COVID-19 pandemic (the “Assumed Legacy Floor Space Contracts”),
including the name of the Person and the dollar amount of Seller’s unfulfilled obligations to such Person. The Seller represents
and warrants that the Legacy Floor Space Contract Schedule represents a true, correct and complete list of unfulfilled obligations to
any and all Persons who purchased convention floor space from Seller in respect of editions of the Events that were cancelled or postponed
due to the COVID-19 pandemic. The Seller further represents and warrants that all Assumed Legacy Floor Space Contracts conform to Seller’s
standard terms and conditions with respect to convention floor space sales, as set forth in Party 4.10.7(b) of the Disclosure Memorandum,
in each case without any material deviation.

 

4.10.8
Assumed Legacy Ticket Contracts. Part 4.10.8(a) of the Disclosure Memorandum (the “Legacy Ticket Contract Schedule”)
sets forth each Contract with any Person who purchased any admission ticket from Seller in respect of editions of the Events that were
cancelled or postponed due to the COVID-19 pandemic (the “Assumed Legacy Ticket Contracts”), including the
name of the Person and the dollar amount of Seller’s unfulfilled obligations to such Person. The Seller represents and warrants
that the Legacy Ticket Contract Schedule represents a true, correct and complete list of unfulfilled obligations to any and all Persons
who purchased any admission ticket from Seller in respect of editions of the Events that were cancelled or postponed due to the COVID-19
pandemic. The Seller further represents and warrants that all Assumed Legacy Ticket Contracts conform to Seller’s standard terms
and conditions with respect to ticket sales, as set forth in Party 4.10.8(b) of the Disclosure Memorandum, in each case without any material
deviation.

 

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4.10.9
Assumed Legacy Venue Contracts. The Seller represents and warrants that Part 2.3(d)(1) of the Disclosure Memorandum sets forth
a true, correct and complete list of outstanding accounts payable to any and all Persons with respect to the use of venues in respect
of editions of the Events that were cancelled or postponed due to the COVID-19 pandemic.

 

4.11
Insurance. The Seller has maintained commercially reasonable insurance coverage with respect to the Events and the Purchased
Assets for the past three (3) years. The Seller has not made claims under any insurance policy covering the Events or the Purchased Assets
during the past three (3) years.

 

4.12
Intentionally Omitted.

 

4.13
Brokers or Finders. The Seller has not incurred any obligation or liability, contingent or otherwise, for brokerage or
finders’ fees or agents’ commissions or other similar payment in connection with the Transaction Documents or the transactions
contemplated thereby.

 

4.14
Commercial Relationships. The relationships of the Seller with its vendors, exhibitors, sponsors, customers, speakers and
lessors that are material to the operation of the Events are good commercial working relationships and no such material vendor, exhibitor,
sponsor, customer, speaker or lessor (a) has terminated, or threatened in writing to terminate, other than as a result of the COVID-19
pandemic, its relationship with the Seller or (b) has during the last year, other than as a result of the COVID-19 pandemic, decreased
materially, or threatened to decrease materially, its services, supplies or materials to the Seller or its usage of the Seller’s
services or products in connection with the Events. No such vendor, exhibitor, sponsor, customer, speaker or lessor has made the Seller
aware that the transactions contemplated by the Transaction Documents will adversely affect its relationship with the Buyer (as successor
owner, operator and producer of the Events).

 

4.15
Hotel Occupancy Guarantees. Except as set forth on Part 4.15 of the Disclosure Memorandum, the Seller has not made any
hotel occupancy guarantee or agreed to any attrition clause with any hotel with respect to any edition of the Events scheduled to occur
after the date hereof.

 

4.16
Privacy. The Seller has (i) complied in all material respects with its published privacy policies with respect to the Events,
to its Knowledge and except as disclosed in Section 4.16 of the Disclosure Memorandum; (ii) with all applicable Privacy and Security
Laws; and (iii) with all Assumed Contracts relating to data privacy, data protection and data security, and (iv) Seller has taken commercially
reasonable measures to ensure that personally identifiable information included in the Purchased Assets is protected against loss, damage,
and unauthorized access, use, modification, or other misuse. Except for disclosures of such personally identifiable information required
by Law or specifically authorized by the provider of personally identifiable information pursuant to a written Contract or privacy policy
or as otherwise permitted by Law, the Seller does not sell, rent or otherwise make available to any independent, third-party Person any
such personally identifiable information included in the Purchased Assets. To the Knowledge of the Seller, there has been no loss, damage,
or unauthorized access, use, modification, or other misuse of any such information by the Seller or any of its Representatives. As of
the date of hereof, no Person (including any Governmental Body) has made any claim or commenced any Proceeding or investigation with
respect to loss, damage, or unauthorized access, use, modification, or other misuse of any personally identifiable information included
in the Purchased Assets by the Seller or any of its Representatives. Except as described in Section 4.16 of the Disclosure Memorandum,
the consummation of the transactions contemplated by the Transaction Documents and the transfer of personally identifiable information
to the Buyer will not violate the Seller’s published privacy policy with respect to the Events as it currently exists or as it
existed at any time during which any of such information was collected or obtained.

 

    	16

     

    

 

4.17
Affiliate Transactions. Intentionally omitted.

 

4.18
Exclusive Representations. Except for the representations and warranties contained in this Article 4, the Seller hereby
disclaims any other express or implied representations or warranties concerning the Seller, the Events or the Purchased Assets.

 

ARTICLE
5

REPRESENTATIONS AND WARRANTIES OF THE BUYER

 

The
Buyer represents and warrants to the Seller as follows:

 

5.1
Organization and Good Standing. The Buyer is a corporation duly organized, validly existing, and in good standing under
the laws of the State of Delaware.

 

5.2
Authority; Enforceability.

 

5.2.1
Power and Authority. Each Transaction Document and each other agreement and instrument to be executed by the Buyer in connection
herewith has been duly and validly authorized the Buyer and has been (or upon execution will have been) duly and validly executed and
delivered by the Buyer. The Buyer has the necessary corporate right, power and authority to execute and deliver each of the Transaction
Documents to which it is a party and to perform its respective obligations under each of the Transaction Documents to which it is a party.

 

5.2.2
Enforceability. Each Transaction Document and each other agreement and instrument to be executed by the Buyer in connection herewith,
constitutes (or upon execution will constitute) the legal, valid, and binding obligation of the Buyer, enforceable against the Buyer
in accordance with its terms (assuming the due authorization, execution and delivery by the other parties hereto and thereto), subject
to applicable bankruptcy, insolvency, reorganization, moratorium and similar Laws affecting creditors’ rights and remedies generally.

 

5.3
No Conflict; Consents.

 

5.3.1
Neither the execution and delivery of any Transaction Document by the Buyer nor the consummation or performance of any of the transactions
contemplated by the Transaction Documents by the Buyer will give any Person the right to prevent, delay, or otherwise interfere with
any of the transactions contemplated by the Transaction Documents pursuant to: (a) any provision of the Buyer’s charter, bylaws
or other similar organizational documents; (b) any resolution adopted by the board of directors or the stockholders of the Buyer; or
(c) any Law or Order to which the Buyer may be subject; except in the case of clauses (b) and (c), as would not reasonably be expected
to prohibit or materially restrict, impede or delay the consummation of the transactions contemplated by this Agreement.

 

    	17

     

    

 

5.3.2
The Buyer will not be required to give any notice to, or obtain any consent from, any Person in connection with the execution and delivery
of this Agreement or the consummation or performance of any of the transactions contemplated by the Transaction Documents, except as
would not reasonably be expected to prohibit or materially restrict, impede or delay the consummation of the transactions contemplated
by this Agreement.

 

5.4
Certain Proceedings. There is no pending Proceeding that has been commenced against the Buyer and that would reasonably
be expected to have the effect of preventing, delaying, making illegal, or otherwise interfering with, any of the transactions contemplated
by the Transaction Documents. To the Buyer’s Knowledge, no such Proceeding has been threatened.

 

5.5
Brokers or Finders. The Buyer and its officers and agents have incurred no obligation or liability, contingent or otherwise,
for brokerage or finders’ fees or agents’ commissions or other similar payment in connection with this Agreement.

 

5.6
Exclusive Representations. Except for the representations and warranties contained in this Article 5, the Buyer hereby
disclaims any other express or implied representations or warranties concerning the Buyer.

 

ARTICLE
6

COVENANTS

 

6.1
Confidentiality. The Seller acknowledges that, through the Seller’s longstanding relationship with and involvement
in the Events, the Seller has gained confidential and other proprietary information concerning the Events. The Seller acknowledges that
disclosing information specific to the Events to third parties would be detrimental to the Buyer and could place the Buyer at a competitive
disadvantage. The Seller agrees that it shall not, and it shall cause its Affiliates and each of their respective Representatives not
to, at any time following the Closing, directly or indirectly disclose or disseminate to any Person other than the Buyer, Buyer’s
Affiliates, or Seller’s Affiliates, or their respective Representatives who need to know such information, or directly or indirectly
use, any such information specific to the Events. The foregoing restriction shall not apply to: (a) any information that is or becomes
generally available to the public other than as a result of a disclosure, directly or indirectly, by the Seller in breach of this Agreement;
(b) any information obtained by the Seller from a third party which the Seller, after due inquiry, has no reason to believe is violating
any obligation of confidentiality to the Buyer; or (c) any information that the Seller is required by Law to disclose. It is further
acknowledged and agreed, that information that is related to the Retained Business is not subject to the restrictions of this Section
6.1.

 

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6.2
Databases. The Seller acknowledges agrees that, from and after the Closing, neither the Seller nor any of its Affiliates
shall be permitted to use the Databases for any reason or purpose whatsoever. Accordingly, as promptly as practicable and in any event
within one (1) Business Day after the Closing (provided that the Buyer shall have first received a copy of the Databases), the Seller
shall, and shall cause its Affiliates to, use commercially reasonable efforts to destroy any and all copies of the Databases (whether
in physical, electronic or other form) in their possession; however, Seller and its Affiliates may retain a copy of the Databases, or
any portion thereof, that (a) Seller is required to keep for compliance purposes as required by applicable Law; or (b) have been created
electronically pursuant to automatic or ordinary course archiving, back-up, security or disaster recovery systems or procedures.

 

6.3
Non-Compete; Non-Solicit. In consideration of the numerous mutual promises contained in this Agreement, the Seller covenants
and agrees that, Seller will not, and will not allow any of its Affiliates or their respective Representatives (collectively, “Restricted
Parties”) to, directly or indirectly, during the period of fifty-four (54) months commencing on the Closing Date, anywhere
in the United States and Canada: (a) enter into or engage in the business of operating or producing any consumer or trade show, conference,
exposition or similar physical event, in each case that in any way relates to pop culture subject matter, such as comics, science fiction,
anime or gaming (a “Competitive Business”); (b) directly or indirectly possess an interest in, manage, control,
participate in, consult with or render services for any other Person engaged in any Competitive Business; (c) request, solicit or induce,
or attempt to request, solicit or induce, any employee of the Buyer or any of its Affiliates to leave the Buyer or any of its Affiliates
for any reason whatsoever, except that such Restricted Party shall not be restricted from hiring any such employee who responds to a
general solicitation through a public medium or general or mass mailing by or on behalf of such Restricted Party that is not targeted
at employees of the Buyer or any of its Affiliates; or (d) interfere with, disrupt or attempt to disrupt the relationship, contractual
or otherwise, between the Buyer and any vendor, exhibitor, sponsor, customer, speaker or lessor of the Buyer in respect of any of the
Events, or in any way encourage them to terminate or otherwise alter their relationship with the Buyer; provided, however, in each case,
such restrictions shall not apply to conduct related to the Retained Business so long as the Retained Business is not expanded in any
manner as would include any Competitive Business.

 

6.4
Consents. To the extent that the Seller’s rights under any Assumed Contract may not be assigned to the Buyer without
the consent of any third party which consent has not been obtained, this Agreement shall not constitute an agreement to assign the same
if an attempted assignment would constitute a breach thereof or be unlawful, and the Seller shall use its commercially reasonable efforts
to obtain any such required consent(s) as promptly as possible. If any such consent shall not be obtained or if any attempted assignment
would be ineffective or would impair the Buyer’s rights under the Assumed Contract in question such that the Buyer would not in
effect acquire the benefit of all such rights, the Seller shall, to the maximum extent permitted by Law, act after the date hereof as
the Buyer’s agent in order to obtain for it the benefits thereunder and shall cooperate with the Buyer in any other reasonable
arrangement designed to provide such benefits to the Buyer.

 

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ARTICLE
7

INDEMNIFICATION

 

7.1
Survival.

 

7.1.1
All representations and warranties in this Agreement will survive the Closing: (a) indefinitely with respect to matters covered by Sections
4.2, 4.5.1 and 5.2, (b) until sixty (60) calendar days after the expiration of all applicable statutes of limitation (including all periods
of extension, whether automatic or permissive) with respect to matters covered by Sections 4.6, , 4.13, and 5.5; and (c) for a period
of twenty-four (24) calendar months after the Closing Date in the case of each other representation and warranty. Any claim for indemnification
with respect to any of such matters that is not asserted by notice given as herein provided relating thereto within such specified period
of survival may not be pursued and is hereby irrevocably waived after such time; provided, however, that claims resulting from, arising
out of or relating to actual fraud shall not be waived and shall survive indefinitely.

 

7.1.2
All covenants and agreements respectively made by the Seller and the Buyer in this Agreement shall survive in accordance with their respective
terms.

 

7.1.3
Any claim for indemnification asserted within the applicable period of survival as herein provided will be timely made for purposes hereof,
regardless of whether such claim has been resolved during such survival period.

 

7.2
Indemnification and Payment of Damages by the Seller. The Seller will indemnify the Buyer and each of its Affiliates and
their respective Representatives (each, a “Buyer Indemnitee”) in respect of, and hold each of them harmless
from and against, and will pay to such Buyer Indemnitee the amount of, any loss, liability, claim, damage, fine, penalty, deficiency,
cost of settlement or compromise, expense (including costs of investigation and defense, court costs and reasonable fees of attorneys,
accountants and other experts or other reasonable expenses of litigation or other proceedings or of any claim, default or assessment)
or diminution of value, whether or not involving a third-party claim (collectively, “Damages”), resulting from,
arising out of or relating to:

 

(a)
any breach of any representation or warranty made by the Seller in this Agreement;

 

(b)
any breach by the Seller of any covenant or obligation of the Seller in this Agreement; and

 

(c)
any and all Excluded Liabilities; provided, however, that the indemnification obligation in this Section 7.2(c) shall not be limited
by any applicable survival period set forth in Section 7.1.

 

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7.3
Indemnification and Payment of Damages by the Buyer. The Buyer will indemnify the Seller and each of its Affiliates and
their respective Representatives (each, a “Seller Indemnitee”) in respect of, and hold each of them harmless
from and against, and will pay to such Seller Indemnitee the amount of, any Damages resulting from, arising out of or relating to:

 

(a)
any breach of any representation or warranty made by the Buyer in this Agreement;

 

(b)
any breach by the Buyer of any covenant or obligation of the Buyer in this Agreement;

 

(c)
any and all Assumed Liabilities; provided, however, that the indemnification obligation in this Section 7.3(c) shall not be limited by
any applicable survival period set forth in Section 7.1; and

 

(d)
Purchaser’s use of any Purchased Asset or Purchaser’s operation of the Events or employment of the Event Employees, in each
case after the Closing Date (other than Damages arising from any act or omission of the Seller or its Affiliates, or from a matter for
which any Buyer Indemnitee is entitled to indemnification pursuant to Section 7.2); provided, however, that the indemnification
obligation in this Section 7.3(d) shall survive only until the date that is eighteen (18) months after the Closing Date.

 

7.4
Procedures for Indemnification – Third Party Claims.

 

7.4.1
Promptly after receipt by any party hereto entitled to indemnification pursuant to Section 7.2 or Section 7.3 (each, an “Indemnified
Party”) of notice of the commencement of any Proceeding by any Person who is not a party to this Agreement or an Affiliate
of a party to this Agreement or a Representative of the foregoing (a “Third-Party Claim”) against such Indemnified
Party with respect to which any other party hereto is obligated to provide indemnification under this Agreement (an “Indemnifying
Party”), such Indemnified Party will give prompt written notice (a “Third-Party Claim Notice”)
to the Indemnifying Party of the commencement of such Third-Party Claim. The failure to give such prompt Third-Party Claim Notice shall
not, however, relieve the Indemnifying Party of its indemnification obligations, except and only to the extent that the Indemnifying
Party forfeits rights or defenses by reason of such failure. Such notice by the Indemnified Party shall describe the Third-Party Claim
in reasonable detail, shall include copies of all material written evidence thereof and shall indicate the estimated amount, if reasonably
practicable, of the Damages that have been or may be sustained by the Indemnified Party. The Indemnifying Party shall have the right
to participate in, or by giving written notice to the Indemnified Party within ten (10) days after the Indemnifying Party’s receipt
of the Third-Party Claim Notice, to assume the defense of any Third-Party Claim at the Indemnifying Party’s expense and by the
Indemnifying Party’s own counsel, and the Indemnified Party shall cooperate in good faith in such defense. In the event that the
Indemnifying Party assumes the defense of any Third-Party Claim, subject to Section 7.4.2, it shall have the right to take such action
as it deems necessary to avoid, dispute, defend, appeal or make counterclaims pertaining to any such Third-Party Claim. The Indemnified
Party shall have the right, at its own cost and expense, to participate in the defense of any Third-Party Claim with counsel selected
by it subject to the Indemnifying Party’s right to control the defense thereof. If the Indemnifying Party elects not to compromise
or defend such Third-Party Claim or fails to promptly notify the Indemnified Party in writing of its election to defend as provided in
this Agreement, the Indemnified Party may pay, compromise, defend such Third-Party Claim and seek indemnification for any and all Damages
based upon, arising from or relating to such Third-Party Claim. The Seller and the Buyer shall cooperate with each other in all reasonable
respects in connection with the defense of any Third-Party Claim, including making available records relating to such Third-Party Claim
and furnishing, without expense (other than reimbursement of actual documented out-of-pocket expenses) to the defending party, management
employees of the non-defending party as may be reasonably necessary for the preparation of the defense of such Third-Party Claim. If
the Indemnifying Party elects to assume the defense of any Third-Party Claim, such election to assume such defense shall conclusively
establish for purposes of this Agreement that the claims comprising such Third-Party Claim are within the scope and subject to indemnification
by the Indemnifying Party under this Article 7.

 

    	21

     

    

 

7.4.2
Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not compromise or settle any Third-Party Claim without
the Indemnified Party’s consent unless (i) there is no finding or admission of any violation of Laws or any violation of the rights
of any Person and no effect on any other claims that may be made against the Indemnified Party, (ii) the sole relief provided is monetary
damages that are paid in full by the Indemnifying Party and no injunctive or other restrictive relief is imposed upon the Indemnified
Party; (iii) the Indemnified Party shall have been fully and unconditionally released from all liability with respect to any compromise
or settlement of such Third-Party Claim. Notwithstanding the foregoing, the Indemnified Party may take over the control of the defense
or settlement of a Third-Party Claim with respect to which the Indemnifying Party has assumed defense at any time if it irrevocably waives
its right to indemnity under Section 7.2 or Section 7.3, as the case may be, with respect to such Third-Party Claim.

 

7.5
Procedure for Indemnification – Direct Claims.

 

7.5.1
Any claim by an Indemnified Party on account of Damages which do not result from a Third-Party Claim (a “Direct Claim”)
shall be asserted by the Indemnified Party giving the Indemnifying Party prompt written notice thereof (a “Direct Claim Notice”).
The failure to give such prompt Direct Claim Notice shall not, however, relieve the Indemnifying Party of its indemnification obligations,
except and only to the extent that the Indemnifying Party forfeits rights or defenses by reason of such failure. Such Direct Claim Notice
shall describe the Direct Claim in reasonable detail, shall include copies of all material written evidence thereof and shall indicate
the estimated amount, if reasonably practicable, of the Damages that have been or may be sustained by the Indemnified Party.

 

7.5.2
In the event that the Indemnifying Party shall object to the indemnification of an Indemnified Party in respect of any claim or claims
specified in any Direct Claim notice, the Indemnifying Party shall, within thirty (30) days after receipt by the Indemnifying Party of
such Direct Claim Notice, deliver to the Indemnified Party a notice to such effect, specifying in reasonable detail the basis for such
objection, and the Indemnifying Party and the Indemnified Party shall, within the sixty (60) day period beginning on the date of receipt
by the Indemnified Party of such objection, attempt in good faith to agree upon the rights of the respective parties with respect to
each of such claims to which the Indemnifying Party shall have so objected. If the Indemnified Party and the Indemnifying Party shall
succeed in reaching agreement on their respective rights with respect to any of such claims, the Indemnified Party and the Indemnifying
Party shall promptly prepare and sign a memorandum of agreement setting forth such agreement. Should the Indemnified Party and the Indemnifying
Party be unable to agree as to any particular item or items or amount or amounts within such time period, then the Indemnified Party
shall be permitted to submit such dispute to the courts set forth in Section 9.11.

 

    	22

     

    

 

7.5.3
Claims for Damages specified in any Direct Claim Notice to which an Indemnifying Party shall not object in writing within thirty (30)
days of receipt of such Direct Claim Notice, claims for Damages covered by a memorandum of agreement of the nature described in Section
7.5.2, claims for Damages the validity and amount of which have been the subject of judicial determination as described in Section 7.5.2
and Section 9.11, and claims for Damages which shall have been settled as described in Section 7.4.2 are hereinafter referred to, collectively,
as “Agreed Claims”. Within ten (10) Business Days of the determination of the amount of any Agreed Claim (or
at such other time as the Indemnified Party and the Indemnifying Party shall agree), the Indemnifying Party shall pay to the Indemnified
Party (except in the case where a payment has been already effected pursuant to Section 7.7) an amount equal to the Agreed Claim by wire
transfer in immediately available funds to the bank account or accounts designated by the Indemnified Party in a notice to the Indemnifying
Party not less than two (2) Business Days prior to such payment.

 

ARTICLE
8

TAX MATTERS

 

8.1
Transfer Taxes. All stamp, transfer, documentary, sales and use, value added, registration and other such taxes and fees
(including any penalties and interest) incurred in connection with this Agreement or the transactions contemplated hereby (collectively,
the “Transfer Taxes”) shall be paid by the Seller, and the Seller shall, at its own expense, properly file
on a timely basis all necessary Returns and other documentation with respect to any Transfer Tax and provide to the Buyer evidence of
payment of all Transfer Taxes.

 

8.2
Apportionment. All Taxes and Tax liabilities with respect to the income or operations of the Events or the ownership of
the Purchased Assets that relate to any Overlap Period shall be apportioned between the Seller and the Buyer as follows: (i) in the case
of Taxes other than income, sales and use and withholding Taxes, on a per diem basis; and (ii) in the case of income, sales and use and
withholding Taxes, as determined from the books and records with respect to the Events at the close of business on the Closing Date.
The Seller shall be liable for, and pay when due, all Taxes with respect to the income or operations of the Events or the ownership of
the Purchased Assets that are attributable to all periods ending on or prior to the Closing Date; provided that the Seller shall provide
the Buyer with reasonable evidence of the payment of any sales and use Taxes related to the Pre-Closing Sales Proceeds promptly after
the payment thereof by the Seller.

 

8.3
Certain Restrictions. The Seller shall not take any actions (including, but not limited to, filing any Tax Return or amended
Tax Return, responding to any audit or inquiry by a taxing authority with respect to the Events or the Purchased Assets, or settling
or compromising any controversy with a taxing authority with respect to the Events or the Purchased Assets) that could affect the Tax
liability of the Buyer or any of its Affiliates without the prior written consent of the Buyer.

 

    	23

     

    

 

8.4
Valuation and Allocation. The Seller and the Buyer agree to allocate the Assumed Liabilities among the Purchased Assets
as set forth on the allocation schedule finally determined pursuant to this Section 8.4 (the “Allocation Schedule”).
A draft of the Allocation Schedule shall be prepared by the Buyer and delivered to the Seller within ninety (90) days following the Closing
Date. If the Seller notifies the Buyer in writing that the Seller objects to one or more items reflected in the Allocation Schedule,
the Seller and the Buyer shall negotiate in good faith to resolve such dispute; provided, however, that if the Seller and the Buyer are
unable to resolve any dispute with respect to the Allocation Schedule within one hundred twenty (120) days following the Closing Date,
such dispute shall be resolved by the Arbiter. The fees and expenses of the Arbiter shall be borne equally by the Seller and the Buyer.
The valuations and allocations determined pursuant to this Section 8.4 shall be used to file timely any information that may be required
to be filed pursuant to applicable Tax regulations promulgated under Section 1060(b) of the Internal Revenue Code, and shall be used
in connection with the preparation of Internal Revenue Service Form 8594 as such form relates to the transactions contemplated by this
Agreement. Neither the Seller nor the Buyer shall file any Tax Return or other document or otherwise take any position which is inconsistent
with the allocation determined pursuant to this Section 8.4 except as may be adjusted by subsequent agreement following an audit by the
Internal Revenue Service or by court decision.

 

ARTICLE
9

GENERAL
PROVISIONS

 

9.1
Notices.

 

9.1.1
Any notice, consent, request or other communication required or provided for by this Agreement shall be in writing and shall be deemed
to have been duly and properly given or served for any purpose only if (i) delivered personally (with written confirmation of receipt),
(ii) sent by e-mail, (iii) sent by registered or certified mail, return receipt requested, or (iv) sent by an internationally recognized
courier service, postage and charges prepaid, in each case to the appropriate addresses set forth below:

 

	If
    to the Seller: 	Kick
    the Can Corp.
	 	2700
    Homestead Road
	 	Park
    City, UT 84098
	 	Attn:
    Scott D. Kaufman
	 	E-mail:
    scott@wizardbrands.com
	 	 
	with
    a copy to:	Kick
    the Can Corp.
	 	2700
    Homestead Road
	 	Park
    City, UT 84098
	 	Attn:
    Legal
	 	E-mail:
    sasheikh@wizardbrands.com

 

    	24

     

    

 

	If
    to the Buyer:	Informa
    PLC
	 	605
    Third Avenue, 22nd Floor
	 	New
    York, NY 10158
	 	Attention:
    Stuart Poyser
	 	E-mail:
    stuart.poyser@informa.com
	 	 
	with
    a copy to:	Informa
    PLC
	 	605
    Third Avenue, 22nd Floor
	 	New
    York, NY 10158
	 	Attention:
    Brian Vasandani, Esq.
	 	E-mail:
    brian.vasandani@informa.com
	 	 

 

9.1.2
All such notices, requests, consents and other communications shall be deemed to have been given (i) in the case of personal delivery,
on the date of such delivery, (ii) in the case of e-mail, when received, (iii) in the case of registered or certified mailing, postage
and charges prepaid, return receipt requested, on the third (3rd) Business Day following the date of such mailing and (iv) in the case
of mailing by an internationally recognized express courier service, if sent by next day delivery providing receipt of delivery, on the
second (2nd) Business Day following the date of such mailing.

 

9.2
Expenses. Except as otherwise set forth herein, each party to this Agreement will pay its own respective costs and expenses
(including legal and accounting costs and expenses) incurred by such party in connection with the Transaction Documents and the transactions
contemplated thereby.

 

9.3
Public Announcements. No press release or other public announcement related to this Agreement and the other Transaction
Documents or the transactions contemplated hereby and thereby shall be issued or made by any party hereto (or any Affiliate of any party
hereto) without the joint approval of the Buyer and the Seller unless required by any Law or any Governmental Body (in each case, in
the reasonable opinion of counsel); provided, however, that in the event any disclosure is required by any Law or any Governmental Body,
the party required to make such disclosure shall (i) provide the other party with reasonable advance notice and a reasonable opportunity
to provide comments, which the party required to make such disclosure agrees to reasonably consider and (ii) otherwise use its reasonable
best efforts, to the extent legally permissible, to remove or limit any personally identifiable information and any commercially sensitive
information from any such disclosure.

 

9.4
Further Assurances. At any time and from time to time after the Closing Date, without further consideration, each party
hereto shall, at the reasonable request of the other party hereto, execute and deliver such further instruments of conveyance, assignment,
assumption and transfer with respect to the Purchased Assets and the Assumed Liabilities and take such further action as may be necessary
or appropriate in order to (a) effectuate the intent of this Agreement, (b) perfect or record title of the Buyer in the Purchased Assets,
(c) put the Buyer in possession of the Purchased Assets and (d) provide such other party with the intended benefits of this Agreement.
In the event that the Seller retains any of the Purchased Assets, the Seller agrees to promptly transfer or cause the transfer of such
Purchased Assets to the Buyer at the Seller’s expense. Without limiting the foregoing, the Seller shall, and shall cause its Affiliates
to, promptly pay or deliver to the Buyer any monies or checks received by Seller or its Affiliates that relate to the Wizard World Chicago
2021 Event or any other edition of the Event scheduled to take place after the Closing Date (without duplication of any payments made
by the Seller pursuant to Section 3.4). In the event that the Buyer receives any of the Excluded Assets, the Buyer agrees to promptly
return or cause the return of such assets to the Seller at the Seller’s expense.

 

    	25

     

    

 

9.5
Waiver. The rights and remedies of the parties to this Agreement are cumulative and not alternative. Neither the failure
nor any delay by any party in exercising any right, power, or privilege under this Agreement or the documents referred to in this Agreement
will operate as a waiver of such right, power, or privilege, and no single or partial exercise of any such right, power, or privilege
will preclude any other or further exercise of such right, power, or privilege or the exercise of any other right, power, or privilege.
To the maximum extent permitted by applicable Law: (a) no claim or right arising out of this Agreement or the other Transaction Documents
can be discharged by one party, in whole or in part, by a waiver or renunciation of the claim or right unless in writing signed by the
other party; (b) no waiver that may be given by a party will be applicable except in the specific instance for which it is given; and
(c) no notice to or demand on one party will be deemed to be a waiver of any obligation of such party or of the right of the party giving
such notice or demand to take further action without notice or demand as provided in this Agreement or the other Transaction Documents.

 

9.6
Entire Agreement and Modification. This Agreement, together with the Transaction Documents, supersedes all prior agreements
and understandings, both written and oral, between the parties with respect to its subject matter and constitutes (along with the Disclosure
Memorandum, Exhibits, Transaction Documents, and any other documents referred to in this Agreement) a complete and exclusive statement
of the terms of the agreement between the parties with respect to its subject matter. This Agreement may not be amended except by a written
agreement executed by each of the parties to this Agreement.

 

9.7
Assignments and Successors; No Third-Party Rights. No party may assign any of its rights under this Agreement without the
prior written consent of the other parties except that (i) the Buyer may assign its rights under this Agreement to any of its Affiliates
(only to extent the jurisdiction of formation of such Affiliate is within the United States) provided such party remains obligated hereunder,
and (ii) in the event of liquidation or dissolution of the Seller, the Seller may assign its rights under this Agreement to any of its
Affiliates (only to extent the jurisdiction of formation of such Affiliate is within the United States) provided such party remains obligated
hereunder. Subject to the preceding sentence, this Agreement will apply to, be binding in all respects upon, and inure to the benefit
of the successors and permitted assigns of the parties. Nothing expressed or referred to in this Agreement will be construed to give
any Person other than the parties to this Agreement any legal or equitable right, remedy, or claim under or with respect to this Agreement
or any provision of this Agreement. This Agreement and all of its provisions and conditions are for the sole and exclusive benefit of
the parties to this Agreement and their successors and permitted assigns.

 

    	26

     

    

 

9.8
Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction,
the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable
only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

 

9.9
Section Headings. The headings of Articles, Sections and subsections in this Agreement are provided for convenience only
and will not affect its construction or interpretation.

 

9.10
Governing Law. This Agreement will be governed by the laws of the State of Delaware, without regard to conflicts of laws
principles.

 

9.11
Consent to Jurisdiction. Each party irrevocably consents and agrees that any legal action or proceeding with respect to
this Agreement and any action for enforcement of any judgment in respect thereof will be brought in the state or Federal courts located
within New Castle County in the State of Delaware, and, by execution and delivery of this Agreement, each party to this Agreement hereby
submits to and accepts for itself and in respect of its property, generally and unconditionally, the exclusive jurisdiction of the aforesaid
courts and appellate courts from any appeal thereof. Each party further irrevocably consents to the service of process out of any of
the aforementioned courts in any such action or proceeding by the manner set forth in Section 9.1. Each party hereby irrevocably waives
any objection that it may now or hereafter have to the laying of venue of any of the aforesaid actions or proceedings arising out of
or in connection with this Agreement brought in the courts referred to above and hereby further irrevocably waives and agrees not to
plead or claim in any such court that any such action or proceeding brought in any such court has been brought in an inconvenient forum.
Nothing in this Section 9.11 shall be deemed to constitute a submission to jurisdiction, consent or waiver with respect to any matter
not specifically referred to herein.

 

9.12
Specific Performance. Each party acknowledges that money damages would be both incalculable and an insufficient remedy
for any breach of this Agreement by such party and that any such breach may cause the other party irreparable harm. Accordingly, each
party also agrees that, in the event of any breach or threatened breach of the provisions of this Agreement by such party, the other
party shall be entitled to seek equitable relief (and the other party agrees not to raise any objections specifically to the availability
of the equitable remedy of specific performance as a possible remedy) without the requirement of posting a bond or other security, including
in the form of injunctions and orders for specific performance. Any and all remedies herein expressly conferred upon a party will be
deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such party, and the exercise
by a party of any one remedy will not preclude the exercise of any other remedy.

 

9.13
Securities and Antitrust Laws. Each party is aware, and will advise its Representatives who are informed of the matters
that are the subject of this Agreement, of the restrictions imposed by the United States securities laws on the purchase or sale of securities
by any person who has received material, non-public information from the issuer of such securities and on the communication of such information
to any other person when it is reasonably foreseeable that such other person is likely to purchase or sell such securities in reliance
upon such information and that similar obligations exist under securities law and regulation in Canada, the United Kingdom, and other
countries and jurisdictions. Each party hereby confirms that it and its Affiliates shall take any action necessary to prevent the use
of any Confidential Information in a way which might violate any securities, antitrust or other applicable law.

 

    	27

     

    

 

9.14
DTSA Notice. The parties acknowledge receipt of the following notice pursuant to 18 U.S.C. § 1833(b)(1) (Defend Trade
Secrets Act): An individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure
of a trade secret that is made in confidence to a federal, state, or local government official or to an attorney solely for the purpose
of reporting or investigating a suspected violation of law. An individual shall not be held criminally or civilly liable under any federal
or state trade secret law for the disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other
proceeding, if such filing is made under seal. An individual who files a lawsuit for retaliation by an employer for reporting a suspected
violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding,
if the individual files any document containing the trade secret under seal; and does not disclose the trade secret, except pursuant
to court order.

 

9.15
Counterparts. This Agreement may be executed in two or more counterparts, all of which taken together shall constitute
but one instrument. Delivery of a copy of this Agreement or such other document (including, without limitation, the Exhibits to this
Agreement) bearing an original signature by facsimile transmission, by electronic mail in portable document format (.pdf) form, or by
any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect
as physical delivery of the paper document bearing the original signature.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	28

     

    

 

IN
WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first written above.

 

	 	INFORMA
    POP CULTURE EVENTS, INC.
	 	 	 
	 	By:	/s/
    Brian Vasandani
	 	Name:	Brian
    Vasandani
	 	Title:	Vice
    President
	 	 	 
	 	KICK
    THE CAN CORP.
	 	 	 
	 	By:
    	/s/
    Scott D. Kaufman
	 	Name:
	Scott
    D. Kaufman
	 	Title:	 CEO

 

 

 

    	 

     

    

 

Exhibit
A

 

Form
of Bill of Sale

 

See
attached.

 

    	 

     

    

 

Exhibit
B

 

Form
of Assignment and Assumption Agreement

 

See
attached.

 

    	 

     

    

 

Exhibit
C

 

Form
of Assignment of Databases

 

See
attached.

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