Document:

Exhibit

Exhibit 10.17

INDEMNIFICATION AGREEMENT

THIS INDEMNIFICATION AGREEMENT is made and entered into this 12thday of October, 2010 ("Agreement"), by and between INLAND WESTERN RETAIL REAL ESTATE TRUST, INC., a Maryland corporation (the "Company"), and Julie Swinehart ("Indemnitee").

WHEREAS, at the request of the Company, Indemnitee currently serves as an officer of the Company and may, therefore, be subjected to claims, suits or proceedings arising as a result of his service; and

WHEREAS, as an inducement to Indemnitee to continue to serve as such officer, the Company has agreed to indemnify and to advance expenses and costs incurred by Indemnitee in connection with any such claims, suits or proceedings, to the maximum extent permitted by law; and
WHEREAS, the parties by this Agreement desire to set forth their agreement regarding indemnification and advance of expenses;

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:

Section I.    Definitions.  For purposes of this Agreement:

(a)        "Change in Control" means a change in control of the Company occurring after the Effective Date of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended (the "Act"), whether or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such a Change in Control shall be deemed to have occurred if after the Effective Date (i) any "person" (as such term is used in Sections 13(d) and 14(d) of the Act) is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the Company representing 15% or more of the combined voting power of the Company's then outstanding securities without the prior approval of at least two-thirds of the members of the Board of Directors in office immediately prior to such person attaining such percentage interest; (ii) there occurs a proxy contest, or the Company is a party to a merger, consolidation, sale of assets, plan of liquidation or other reorganization not approved by at least two-thirds of the members of the Board of Directors then in office, as a consequence of which members of the Board of Directors in office immediately prior to such transaction or event constitute less than a majority of the Board of Directors thereafter; or (iii) during any period of two consecutive years, other than as a result of an event described in clause (a)(ii) of this Section 1, individuals who at the beginning of such period constituted the Board of Directors (including for this purpose any new director whose election or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of such period) cease for any reason to constitute at least a majority of the Board of Directors.

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(b)"Corporate Status" means the status of a person who is or was a director, trustee, officer, employee or agent of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise for which such person is or was serving at the request of the Company.

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

(d)"Effective Date" means the date set forth in the first paragraph of this Agreement.

(e)"Expenses" shall include all reasonable and out-of-pocket attorneys' fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, or being or preparing to be a witness in a Proceeding.

(f)"Independent Counsel" means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party, or (ii) any other party to or witness in the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Counsel" shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement. If a Change of Control has not occurred, Independent Counsel shall be selected by the Board of Directors, with the approval of Indemnitee, which approval will not be unreasonably withheld. If a Change of Control has occurred, Independent Counsel shall be selected by Indemnitee, with the approval of the Board of Directors, which approval will not be unreasonably withheld.

(g)"Proceeding" includes any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, administrative hearing or any other proceeding, whether civil, criminal, administrative or investigative (including on appeal), except one pending or completed on or before the Effective Date, unless otherwise specifically agreed in writing by the Company and Indemnitee.

Section 2.    Services by Indemnitee.  Indemnitee will serve as an officer of the Company. However, this Agreement shall not impose any obligation on Indemnitee or the Company to continue Indemnitee's service to the Company beyond any period otherwise required by law or by other agreements or commitments of the parties, if any.

Section 3.    Indemnification - General.  The Company shall indemnify, and advance Expenses to, Indemnitee (a) as provided in this Agreement and (b) otherwise to the maximum extent permitted by Maryland law in effect on the date hereof and as amended from time to time; provided, however, that no change in Maryland law shall have the effect of reducing the benefits available to Indemnitee hereunder based on Maryland law as in effect on the date hereof. The rights of Indemnitee 

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provided in this Section 3 shall include, without limitation, the rights set forth in the other sections of this Agreement, including any additional indemnification permitted by Section 2-418(g) of the Maryland General Corporation Law ("MGCL").

Section 4.    Proceedings Other Than Proceedings by or in the Right of the Company.  Indemnitee shall be entitled to the rights of indemnification provided in this Section 4 if, by reason of his Corporate Status, he is, or is threatened to be, made a party to or a witness in any threatened, pending, or completed Proceeding, other than a Proceeding by or in the right of the Company. Pursuant to this Section 4, Indemnitee shall be indemnified against all judgments, penalties, fines and amounts paid in settlement and all Expenses actually and reasonably incurred by him or on his behalf in connection with a Proceeding by reason of his Corporate Status unless it is established that (i) the act or omission of Indemnitee was material to the matter giving rise to the Proceeding and (a) was committed in bad faith or (b) was the result of active and deliberate dishonesty, (ii) Indemnitee actually received an improper personal benefit in money, property or services, or (iii) in the case of any criminal Proceeding, Indemnitee had reasonable cause to believe that his conduct was unlawful.

Section 5.    Proceedings by or in the Right of the Company.  Indemnitee shall be entitled to the rights of indemnification provided in this Section 5 if, by reason of his Corporate Status, he is, or is threatened to be, made a party to or a witness in any threatened, pending or completed Proceeding brought by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 5, Indemnitee shall be indemnified against all amounts paid in settlement and all Expenses actually and reasonably incurred by him or on his behalf in connection with such Proceeding unless it is established that (i) the act or omission of Indemnitee was material to the matter giving rise to such a Proceeding and (a) was committed in bad faith or (b) was the result of active and deliberate dishonesty or (ii) Indemnitee actually received an improper personal benefit in money, property or services.

Section 6.    Court-Ordered Indemnification.  Notwithstanding any other provision of this Agreement, a court of appropriate jurisdiction, upon application of Indemnitee and such notice as the court shall require, may order indemnification in the following circumstances:

(a)if it determines Indemnitee is entitled to reimbursement under Section 2-418(d)(1) of the MGCL, the court shall order indemnification, in which case Indemnitee shall be entitled to recover the expenses of securing such reimbursement; or

(b)if it determines that Indemnitee is fairly and reasonably entitled to indemnification in view of all the relevant circumstances, whether or not Indemnitee (i) has met the standards of conduct set forth in Section 2-418(b) of the MGCL or (ii) has been adjudged liable for receipt of an improper personal benefit under Section 2-418(c) of the MGCL, the court may order such indemnification as the court shall deem proper. However, indemnification with respect to any Proceeding by or in the right of the Company or in which liability shall have been adjudged in the circumstances described in Section 2-418(c) of the MGCL shall be limited to Expenses actually and reasonably incurred by him or on his behalf in connection with a Proceeding.

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Section 7.    Indemnification for Expenses of a Party Who is Wholly or Partly Successful.  Notwithstanding any other provision of this Agreement, and without limiting any such provision, to the extent that Indemnitee is, by reason of his Corporate Status, made a party to and is successful, on the merits or otherwise, in the defense of any Proceeding, he shall be indemnified for all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee under this Section 7 for all Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully resolved claim, issue or matter, allocated on a reasonable and proportionate basis. For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

Section 8.    Advance of Expenses.  The Company shall advance all reasonable Expenses actually and reasonably incurred by or on behalf of Indemnitee in connection with any Proceeding (other than a Proceeding brought to enforce indemnification under this Agreement, applicable law, the Charter or Bylaws of the Company, any agreement or a resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors) to which Indemnitee is, or is threatened to be, made a party or a witness, within ten days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by a written affirmation by Indemnitee of Indemnitee's good faith belief that the standard of conduct necessary for indemnification by the Company as authorized by law and by this Agreement has been met and a written undertaking by or on behalf of Indemnitee, in substantially the form attached hereto as Exhibit A or in such form as may be required under applicable law as in effect at the time of the execution thereof, to reimburse the portion of any Expenses advanced to Indemnitee relating to claims, issues or matters in the Proceeding as to which it shall ultimately be established that the standard of conduct has not been met and which have not been successfully resolved as described in Section 7. To the extent that Expenses advanced to Indemnitee do not relate to a specific claim, issue or matter in the Proceeding, such Expenses shall be allocated on a reasonable and proportionate basis. The undertaking required by this Section 8 shall be an unlimited general obligation by or on behalf of Indemnitee and shall be accepted without reference to Indemnitee's financial ability to repay such advanced Expenses and without any requirement to post security therefor.

Section 9.    Procedure for Determination of Entitlement to Indemnification.

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

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(b)Upon written request by Indemnitee for indemnification pursuant to the first sentence of Section 9(a) hereof, a determination, if required by applicable law, with respect to Indemnitee's entitlement thereto shall promptly be made in the specific case: (i) if a Change in Control shall have occurred, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee; or (ii) if a Change of Control shall not have occurred, (A) by the Board of Directors (or a duly authorized committee thereof) by a majority vote of a quorum consisting of Disinterested Directors (as herein defined), or (B) if a quorum of the Board of Directors consisting of Disinterested Directors is not obtainable or, even if obtainable, such quorum of Disinterested Directors so directs, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee, or (C) if so directed by a majority of the members of the Board of Directors, by the stockholders of the Company. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee's entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination in the discretion of the Board of Directors or Independent Counsel if retained pursuant to clause (ii)(B) of this Section 9. Any Expenses actually and reasonably incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee's entitlement to indemnification) and the Company shall indemnify and hold Indemnitee harmless therefrom.

Section 10.    Presumptions and Effect of Certain Proceedings.

(a)In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 9(a) of this Agreement, and the Company shall have the burden of proof to overcome that presumption in connection with the making of any determination contrary to that presumption.

(b)The termination of any Proceeding by judgment, order, settlement, conviction, a plea of nolo contendere or its equivalent, or an entry of an order of probation prior to judgment, does not create a presumption that Indemnitee did not meet the requisite standard of conduct described herein for indemnification.

Section 11.    Remedies of Indemnitee.

(a)    If (i) a determination is made pursuant to Section 9 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advance of Expenses is not timely made pursuant to Section 8 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 9(b) of this Agreement within 60 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 7 of this Agreement within ten days after receipt by the Company of a written 

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request therefor, or (v) payment of indemnification is not made within ten days after a determination has been made that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to an adjudication in an appropriate court located in the State of Maryland, or in any other court of competent jurisdiction, of his entitlement to such indemnification or advance of Expenses. Alternatively, Indemnitee, at his option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 11(a); provided, however, that the foregoing clause shall not apply to a proceeding brought by Indemnitee to enforce his rights under Section 7 of this Agreement.

(b)    In any judicial proceeding or arbitration commenced pursuant to this Section 11 the Company shall have the burden of proving that Indemnitee is not entitled to indemnification or advance of Expenses, as the case may be.

(c)    If a determination shall have been made pursuant to Section 9(b) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 11, absent a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's statement not materially misleading, in connection with the request for indemnification.

(d)    In the event that Indemnitee, pursuant to this Section 11, seeks a judicial adjudication of or an award in arbitration to enforce his rights under, or to recover damages for breach of, this Agreement, Indemnitee shall be entitled to recover from the Company, and shall be indemnified by the Company for, any and all Expenses actually and reasonably incurred by him in such judicial adjudication or arbitration. If it shall be determined in such judicial adjudication or arbitration that Indemnitee is entitled to receive part but not all of the indemnification or advance of Expenses sought, the Expenses incurred by Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately prorated.

Section 12.    Defense of the Underlying Proceeding.

(a)Indemnitee shall notify the Company promptly upon being served with or receiving any summons, citation, subpoena, complaint, indictment, information, notice, request or other document relating to any Proceeding which may result in the right to indemnification or the advance of Expenses hereunder; provided, however, that the failure to give any such notice shall not disqualify Indemnitee from the right, or otherwise affect in any manner any right of Indemnitee, to indemnification or the advance of Expenses under this Agreement unless the Company's ability to defend in such Proceeding or to obtain proceeds under any insurance policy is materially and adversely prejudiced thereby, and then only to the extent the Company is thereby actually so prejudiced.

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(b)Subject to the provisions of the last sentence of this Section 12(b) and of Section 12(c) below, the Company shall have the right to defend Indemnitee in any Proceeding which may give rise to indemnification hereunder; provided, however, that the Company shall notify Indemnitee of any such decision to defend within 15 calendar days following receipt of notice of any such Proceeding under Section 12(a) above. The Company shall not, without the prior written consent of Indemnitee, which shall not be unreasonably withheld or delayed, consent to the entry of any judgment against Indemnitee or enter into any settlement or compromise which (i) includes an admission of fault of Indemnitee or (ii) does not include, as an unconditional term thereof, the full release of Indemnitee from all liability in respect of such Proceeding, which release shall be in form and substance reasonably satisfactory to Indemnitee. This Section 12(b) shall not apply to a Proceeding brought by Indemnitee under Section 11 above or Section 18 below.

(c)Notwithstanding the provisions of Section 12(b) above, if in a Proceeding to which Indemnitee is a party by reason of Indemnitee's Corporate Status, (i) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld, that he may have separate defenses or counterclaims to assert with respect to any issue which may not be consistent with other defendants in such Proceeding, (ii) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld, that an actual or apparent conflict of interest or potential conflict of interest exists between Indemnitee and the Company, or (iii) if the Company fails to assume the defense of such Proceeding in a timely manner, Indemnitee shall be entitled to be represented by separate legal counsel of Indemnitee's choice, subject to the prior approval of the Company, which shall not be unreasonably withheld, at the expense of the Company. In addition, if the Company fails to comply with any of its obligations under this Agreement or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any Proceeding to deny or to recover from Indemnitee the benefits intended to be provided to Indemnitee hereunder, Indemnitee shall have the right to retain counsel of Indemnitee's choice, subject to the prior approval of the Company, which shall not be unreasonably withheld, at the expense of the Company (subject to Section 11(d)), to represent Indemnitee in connection with any such matter.

Section 13.    Non-Exclusivity; Survival of Rights; Subrogation; Insurance.

(a)The rights of indemnification and advance of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Charter or Bylaws of the Company, any agreement or a resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal.

(b)In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all 

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papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

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

Section 14.    Insurance. The Company will use its reasonable best efforts to acquire directors and officers liability insurance, on terms and conditions deemed appropriate by the Board of Directors of the Company, with the advice of counsel, covering Indemnitee or any claim made against Indemnitee for service as a director or officer of the Company and covering the Company for any indemnification or advance of Expenses made by the Company to Indemnitee for any claims made against Indemnitee for service as a director or officer of the Company. Without in any way limiting any other obligation under this Agreement, the Company shall indemnify Indemnitee for any payment by Indemnitee arising out of the amount of any deductible or retention and the amount of any excess of the aggregate of all judgments, penalties, fines, settlements and reasonable Expenses actually and reasonably incurred by Indemnitee in connection with a Proceeding over the coverage of any insurance referred to in the previous sentence.

Section 15.    Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is or may be, by reason of his Corporate Status, a witness in any Proceeding, whether instituted by the Company or any other party, and to which Indemnitee is not a party but in which the Indemnitee receives a subpoena to testify, he shall be advanced all reasonable Expenses and indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith.

Section 16.    Duration of Agreement; Binding Effect.

(a)This Agreement shall continue until and terminate ten years after the date that Indemnitee's Corporate Status shall have ceased; provided, that the rights of Indemnitee hereunder shall continue until the final termination of any Proceeding then pending in respect of which Indemnitee is granted rights of indemnification or advance of Expenses hereunder and of any proceeding commenced by Indemnitee pursuant to Section 11 of this Agreement relating thereto.

(b)The indemnification and advance of Expenses provided by, or granted pursuant to, this Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, trustee, officer, employee or agent of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise which such person is or was serving at the written request of the Company, and shall inure to the benefit of Indemnitee and his spouse, assigns, heirs, devisees, executors and administrators and other legal representatives.

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(c)The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

Section 17.    Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

Section 18.    Exception to Right of Indemnification or Advance of Expenses. Notwithstanding any other provision of this Agreement, Indemnitee shall not be entitled to indemnification or advance of Expenses under this Agreement with respect to any Proceeding brought by Indemnitee, unless (a) the Proceeding is brought to enforce indemnification under this Agreement, and then only to the extent in accordance with and as authorized by Sections 8 and 11 of this Agreement, or (b) the Company's Bylaws, as amended, the Charter, a resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors or an agreement approved by the Board of Directors to which the Company is a party expressly provide otherwise.

Section 19.    Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. One such counterpart signed by the party against whom enforceability is sought shall be sufficient to evidence the existence of this Agreement.

Section 20.    Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

Section 21.    Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

Section 22.    Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, 

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or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed:
(a)    If to Indemnitee, to: The address set forth on the signature page hereto.
(b)    If to the Company to:
Inland Western Retail Real Estate Trust, Inc.
2901 Butterfield Road
Oak Brook, Illinois  60523
Attn:  President and Chief Executive Officer

With a copy to:
Inland Western Retail Real Estate Trust, Inc.
2901 Butterfield Road
Oak Brook, Illinois  60523
Attn:  General Counsel

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

Section 23.    Governing Law. The parties agree that this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Maryland, without regard to its conflicts of laws rules.

Section 24.    Miscellaneous. Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate.

[SIGNATURE PAGE FOLLOWS]

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

	
				
	ATTEST:
	 
	COMPANY

	 
	 
	 
	 

	 
	 
	INLAND WESTERN RETAIL REAL ESTATE

	 
	 
	TRUST, INC., a Maryland corporation

	 
	 
	 
	 

	/s/ DENNIS K. HOLLAND
	 
	By:
	/s/ STEVEN P. GRIMES

	Dennis K. Holland
	 
	 
	Steven P. Grimes

	Secretary
	 
	 
	President, Chief Executive Officer, Chief

	 
	 
	 
	Financial Officer and Treasurer

	
				
	WITNESS:
	 
	INDEMNITEE

	 
	 
	 
	 

	/s/ BRIAN GRADY
	 
	/s/ JULIE SWINEHART

	Brian Grady
	 
	Julie Swinehart

	 
	 
	 
	 

	 
	 
	Address:
	Inland Western Retail Real

	 
	 
	 
	Estate Trust, Inc.

	 
	 
	 
	2901 Butterfield Road

	 
	 
	 
	Oak Brook, IL 60523

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EXHIBIT A
FORM OF UNDERTAKING TO REPAY EXPENSES ADVANCED
The Board of Directors of Inland Western Retail Real Estate Trust, Inc.

Re: Undertaking to Repay Expenses Advanced

Ladies and Gentlemen:

This undertaking is being provided pursuant to that certain Indemnification Agreement dated the ____ day of     ___________________, 20___, by and between Inland Western Retail Real Estate Trust, Inc. (the "Company") and the undersigned Indemnitee (the "Indemnification Agreement"), pursuant to which I am entitled to advance of expenses in connection with [description of proceeding] (the "Proceeding").

Terms used herein and not otherwise defined shall have the meanings specified in the Indemnification Agreement.

I am subject to the Proceeding by reason of my Corporate Status or by reason of alleged actions or omissions by me in such capacity. I hereby affirm that at all times, insofar as I was involved as an officer of the Company, in any of the facts or events giving rise to the Proceeding, I (1) acted in good faith and honestly, (2) did not receive any improper personal benefit in money, property or services and (3) in the case of any criminal proceeding, had no reasonable cause to believe that any act or omission by me was unlawful.

In consideration of the advance of Expenses by the Company for reasonable attorneys' fees and related expenses incurred by me in connection with the Proceeding (the "Advanced Expenses"), I hereby agree that if, in connection with the Proceeding, it is established that (1) an act or omission by me was material to the matter giving rise to the Proceeding and (a) was committed in bad faith or (b) was the result of active and deliberate dishonesty or (2) I actually received an improper personal benefit in money, property or services or (3) in the case of any criminal proceeding, I had reasonable cause to believe that the act or omission was unlawful, then I shall promptly reimburse the portion of the Advanced Expenses relating to the claims, issues or matters in the Proceeding as to which the foregoing findings have been established and which have not been successfully resolved as described in Section 7 of the Indemnification Agreement. To the extent that Advanced Expenses do not relate to a specific claim, issue or matter in the Proceeding, I agree that such Expenses shall be allocated on a reasonable and proportionate basis.

IN WITNESS WHEREOF, I have executed this Affirmation and Undertaking on this day of __________________, _______ .

WITNESS:

________________________ (SEAL)Exhibit 10.3

 

JERRICK MEDIA HOLDINGS,
INC.

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration
Rights Agreement (this “Agreement”) is made and entered into this ______day of October, 2017, by and
among Jerrick Media Holdings, Inc., a Nevada corporation (the “Company”), and each Holder of the Notes
and Warrants issued by the Company pursuant to a Securities Purchase Agreement, dated as of the date hereof, by and between each
Investor and the Company (the “SPA”).

 

The Underlying
Shares shall have the registration rights as set forth herein.

 

The Company and the
Investor hereby agree as follows:

 

1.                 
Definitions. Capitalized terms used and not otherwise defined herein that are defined in the SPA shall
have the meanings given such terms in the SPA. As used in this Agreement, the following terms shall have the following meanings:

 

“Closing
Date” means the date of the closing of the private placement of the Secured Convertible Promissory Notes (the “Notes”).

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the Company’s common stock par value $0.0001 per share.

 

“Conversion
Shares” means all shares of Common Stock issuable upon conversion of the Notes.

 

“Demand
Effectiveness Date” shall have the meaning set forth in Section 2(b).

 

“Demand
Filing Date” shall have the meaning set forth in Section 2(b).

 

“Demand
Notice” shall have the meaning set forth in Section 2(b).

 

“Demand
Registration Statement” shall have the meaning set forth in Section 2(b).

 

“Effectiveness
Period” shall mean from the date hereof until the earlier to occur of the date when all Registrable Securities covered
by a Registration Statement either (a) have been sold pursuant to a Registration Statement or an exemption from the registration
requirements of the Securities Act, and (b) pursuant to a written opinion of Company counsel acceptable to the Company’s
transfer agent and the legal counsel for the Holders, may be sold pursuant to Rule 144(k).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Holder”
or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities
(including any permitted assignee).

 

    	

     

    

 

“Indemnified
Party” shall have the meaning set forth in Section 5(c).

 

“Indemnifying
Party” shall have the meaning set forth in Section 5(c).

 

“Investor”
shall mean each purchaser of Notes and Warrants pursuant to the SPA.

 

“Investors”
shall mean, collectively, each Investor.

 

“Losses”
shall have the meaning set forth in Section 5(a).

 

“Mandatory
Effectiveness Date” means, with respect to the Mandatory Registration Statement required to be filed pursuant to
Section 2(a) of this Agreement.

 

“Mandatory
Filing Date” shall have the meaning set forth in Section 2(a).

 

“Mandatory
Registration Statement” shall have the meaning set forth in Section 2(a).

 

“Notes”
means the 15% Senior Secured Convertible Promissory Notes in the aggregate principal amount of up to $6,000,000 issued to certain
Investors including the Investor.

 

“Person”
shall mean an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited
liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding,
such as a deposition), whether commenced or threatened.

 

“Prospectus”
means the prospectus included in the Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated
under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of
any portion of the Registrable Securities covered by the Registration Statement, and all other amendments and supplements to the
Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference
in such Prospectus.

 

“Registrable
Securities” means (i) the Underlying Shares, and (ii) any shares of Common Stock issued or issuable upon any stock
split, dividend or other distribution, recapitalization, anti-dilution adjustment or similar event with respect to the foregoing
or in connection with any provisions in the Notes and/or Warrants.

 

“Registration
Statement” means any registration statement required to be filed hereunder (which, at the Company's option, may be
an existing registration statement of the Company previously filed with the Commission, but not declared effective), including
(in each case) the Prospectus, amendments and supplements to the registration statement or Prospectus, including pre- and post-effective
amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in the registration
statement.

 

    	2 

     

    

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“Rule 415”
means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to
time, or any similar Rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“Rule 424”
means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to
time, or any similar Rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Trading
Day” means (a) a day on which the Common Stock is listed or quoted for trading on a Trading Market, or (b) if
the Common Stock is not trading on a Trading Market, a day on which the Common Stock is quoted in the over-the-counter market as
reported by Pink Sheets LLC (or any similar organization or agency succeeding to its functions of reporting price); provided, that
in the event that the Common Stock is not listed or quoted as set forth in (a) and (b) hereof, then Trading Day shall mean
a Business Day;

 

“Trading
Market” means the following markets or exchanges on which the Common Stock is listed or quoted for trading on the
date in question: the OTC Bulletin Board, the American Stock Exchange, the New York Stock Exchange, the NASDAQ Global Market or
the NASDAQ Capital Market.

 

“Underlying
Shares” means collectively, all Conversion Shares and the Warrant Shares.

 

“Warrant
Shares” means all shares of Common Stock issuable upon exercise of the Warrants.

 

“Warrants”
means the Common Stock purchase warrants in the amount of [_________] shares issued to the Investor by the Company which are exercisable
at [$0.___] per share.

 

2.                 
Registration.

(a)               
Mandatory Registration. The Company shall, on the date that is one hundred and twenty (120) days from the Closing
Date (the “Mandatory Filing Date”), file with the Commission a Registration Statement (the “Mandatory
Registration Statement”), covering the resale of all of the Registrable Securities for an offering to be made on
a continuous basis pursuant to Rule 415. The Mandatory Registration Statement required hereunder shall be on Form S-1 or Form
S-3 (except if the Company is not then eligible to register for resale the Registrable Securities on Form S-1 or Form S-3, in which
case the Mandatory Registration Statement shall be on another appropriate form in accordance herewith). The Company shall use its
best efforts to cause the Mandatory Registration Statement to become effective, no later than one hundred and twenty (120) days
after the Mandatory Filing Date (the “Mandatory Effectiveness Date”) and to keep the Mandatory Registration
Statement continuously effective under the Securities Act until the earlier of (i) when all Registrable Securities have been sold
pursuant to the Mandatory Registration Statement, and (ii) the date on which the Registration Statement may be sold without any
restrictions pursuant to Rule 144 of the Securities Act.

    	3 

     

    

 

(b)              
Demand Registration Rights. At any time commencing on the date nine (9) months following the Closing Date, the Holders
owning no less than 50.1% of the aggregate principal amount of the Notes then outstanding shall have the one-time right, by written
notice signed by such 50.1% of Holders, provided to the Company (the “Demand Notice”), to demand the
Company to register for resale all Registrable Securities under and in accordance with the provisions of the Securities Act by
filing with the Commission a Registration Statement covering the resale of all of the Registrable Securities (the “Demand
Registration Statement”). Such Demand Registration Statement shall be (i) filed by the Company with the Commission
no later than forty-five (45) days after receipt by the Company of the Demand Notice (the “Demand Filing Date”),
and (ii) the Company shall use its reasonable best efforts to have the Demand Registration Statement declared effective by the
Commission no later than ninety (90) days after the Demand Filing Date (the “Demand Effectiveness Date”).
The Demand Registration Statement required hereunder shall be on Form S-1 or Form S-3 (except if the Company is not then eligible
to register for resale the Registrable Securities on Form S-1 or Form S-3, in which case the Demand Registration Statement shall
be on another appropriate form). The Company shall keep the Demand Registration Statement continuously effective under the Securities
Act until the earlier of (i) the date when all Registrable Securities have been sold pursuant to the Demand Registration Statement,
and (ii) the date on which the Registration Statement may be sold without any restrictions pursuant to Rule 144 of the Securities
Act.

(c)               
Filing Default Damages. If a Demand Registration Statement or Mandatory Registration Statement (as the case may be)
is not filed on or prior to the Demand Filing Date or Mandatory Filing Date (as the case may be), then the Company shall pay to
the Holders of the Underlying Shares, for each thirty (30) day period of such failure and until the date a Mandatory Registration
Statement or Demand Registration Statement (as the case may be) is filed and/or the Registrable Securities may be sold pursuant
to Rule 144, an amount in cash, as partial liquidated damages and not as a penalty, equal to two (2%) percent of the aggregate
gross proceeds paid by the Holders for the Notes. The maximum liquidated damages shall be equal to 15% of the aggregate gross proceeds.
If the Company fails to pay any partial liquidated damages pursuant to this Section 2(c) in full within five (5) days of
the date payable, the Company shall pay interest thereon at a rate of 18% per annum (or such lesser maximum amount that is permitted
to be paid by applicable law) to the Holders, accruing daily from the date such partial liquidated damages are due until such amounts,
plus all such interest thereon, are paid in full.

(d)              
Effectiveness, etc.; Default Damages. If a Mandatory Registration Statement or Demand Registration Statement (as
the case may be) is not declared effective by the Commission on or prior to the Mandatory Effectiveness Date or the Demand Effectiveness
Date, respectively, or the Commission declared any such Registration Statement effective, but the Holders of Registrable Securities
cannot sell such Registrable Securities thereunder, for any reason or no reason, then the interest rate shall increase two percent
(2%) above the current interest rate, and will continue to increase two percent (2%) above the then effective interest rate after
every 30-day period thereafter in which the Company remains in default. In no event shall any interest to be paid under the Notes
exceed the maximum rate permitted by law. Notwithstanding the foregoing, the Company shall not be responsible to pay any penalties
if the delay in effectiveness is the result of any comment relating to Rule 415, provided that the Company is working diligently
to cause such effectiveness.

    	4 

     

    

 

(e)               
Piggyback Registration Rights. If, at any time following the date hereof, there is not an effective Registration
Statement covering the Registrable Securities and the Company shall determine to prepare and file with the Commission a registration
statement relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities,
other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents, relating to equity
securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection
with stock option or other employee benefit plans, then the Company shall send to each Holder a written notice of such determination
at least twenty (20) days prior to the filing of any such registration statement and shall automatically include in such registration
statement all Registrable Securities; provided, however, that (i) if, at any time after giving written notice of
its intention to register any securities and, prior to the effective date of the registration statement filed in connection with
such registration, the Company determines for any reason not to proceed with such registration, the Company will be relieved of
its obligation to register any Registrable Securities in connection with such registration, and (ii) in case of a determination
by the Company to delay registration of its securities, the Company will be permitted to delay the registration of Registrable
Securities for the same period as the delay in registering such other securities.

3.           
Registration Procedures. In connection with the Company's registration obligations hereunder, and during the period
in which the Company is required or elects to keep a registration statement effective (the “Effectiveness Period”),
the Company shall:

(a)               
(i) Prepare and file with the Commission such amendments, including post-effective amendments, to the Registration Statement
and the Prospectus used in connection therewith as may be necessary to keep the Registration Statement continuously effective as
to the applicable Registrable Securities for the Effectiveness Period; (ii) cause the related Prospectus to be amended or supplemented
by any required Prospectus supplement, and as so supplemented or amended, to be filed pursuant to Rule 424; and (iii) respond
to any comments received from the Commission with respect to the Registration Statement or any amendment thereto.

(b)              
Notify each Holder of Registrable Securities included in the Registration Statement, as promptly as reasonably possible,
but no later than three (3) business days after the date when: (i) (A) when a Prospectus or any Prospectus supplement or post-effective
amendment to the Registration Statement has been filed, provided, however, that such Holder has previously requested in
writing to receive notice of such filing; (B) when the Commission notifies the Company whether there will be a “review”
of the Registration Statement and whenever the Commission comments in writing on the Registration Statement, provided, however,
that such Holder has previously requested in writing to receive notice of such notification; and (C) when the Registration Statement
or any post-effective amendment has become effective; (ii) of any request by the Commission or any other Federal or state governmental
authority during the period of effectiveness of the Registration Statement for amendments or supplements to the Registration Statement
or Prospectus or for additional information; (iii) of the issuance by the Commission or any other federal or state governmental
authority of any stop order suspending the effectiveness of the Registration Statement covering any or all of the Registrable Securities
or the initiation of any Proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the
suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction,
or the initiation of any Proceeding for such purpose; and (v) of the occurrence of any event that makes, or with the passage of
time would make, the financial statements included in the Registration Statement ineligible for inclusion therein, or, that makes,
or with the passage of time would make, any statement made in the Registration Statement or Prospectus or any document incorporated
or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to the Registration
Statement, Prospectus or other documents so that, in the case of the Registration Statement or the Prospectus, as the case may
be, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

    	5 

     

    

 

(c)               
Use its best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order suspending the effectiveness
of the Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable
Securities for sale in any jurisdiction, at the earliest practicable moment.

(d)              
Promptly deliver to each Holder no later than five (5) business days after the Effectiveness Date, without charge, two (2)
copies of the final Prospectus or Prospectuses (including each form of prospectus) and each amendment or supplement thereto (and,
upon the request of the Holder such additional copies as such Persons may reasonably request in connection with resales by the
Holder of Registrable Securities). The Company hereby consents to the use of such Prospectus and each amendment or supplement thereto
by the Holder in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any amendment
or supplement thereto, except after the giving of any notice pursuant to Section 3(b).

(e)               
Prior to any resale of Registrable Securities by a Holder, use its best efforts to register or qualify or cooperate with
the selling Holders in connection with the registration or qualification (or exemption from the registration or qualification)
of such Registrable Securities for the resale by the Holder under the securities or Blue Sky Laws of such jurisdictions within
the United States as any Holder reasonably requests in writing, to keep such registration or qualification (or exemption therefrom)
effective during the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the disposition
in such jurisdictions of the Registrable Securities covered by the Registration Statement; provided, however, that
the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified, subject
the Company to any material tax in any such jurisdiction where it is not then so subject, or file a general consent to service
of process in any such jurisdiction.

(f)               
Upon the occurrence of any event contemplated by Section 3(b)(v), as promptly as reasonably possible, prepare
a supplement or amendment, including a post-effective amendment, to the Registration Statement or a supplement to the related Prospectus
or any document incorporated or deemed to be incorporated therein by reference, and file any other required document so that, as
thereafter delivered, neither the Registration Statement nor such Prospectus will contain an untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading.

(g)              
Use its best efforts to comply with all applicable rules and regulations of the Commission relating to the registration
of the Registrable Securities pursuant to the Registration Statement or otherwise.

    	6 

     

    

 

(h)              
The Company covenants that it shall file the reports required to be filed by it under the Securities Act and the Exchange
Act and the rules and regulations adopted by the SEC thereunder so long as the Holder owns any Registrable Securities, but in no
event longer than two (2) years; provided, however, that the Company may delay any such filing but only pursuant
to Rule 12b-25 under the Exchange Act, and the Company shall take such further reasonable action as the Holder may reasonably
request (including, without limitation, promptly obtaining any required legal opinions from Company counsel necessary to effect
the sale of Registrable Securities under Rule 144 and paying the related fees and expenses of such counsel), all to the extent
required from time to time to enable such Holder to sell Registrable Securities without registration under the Securities Act within
the limitation of the exemptions provided by (a) Rule 144 under the Securities Act, as such Rule may be amended
from time to time, or (b) any similar rule or regulation hereafter adopted by the Commission. Upon the request of any Holder
of Registrable Securities, the Company will deliver to such Holder a written statement as to whether it has complied with such
requirements.

4.            
Registration Expenses. All fees and expenses incident to the performance of or compliance with this Agreement
by the Company shall be borne by the Company whether or not any Registrable Securities are sold pursuant to the Registration Statement,
other than fees and expenses of counsel or any other advisor retained by the Holders and discounts and commissions with respect
to the sale of any Registrable Securities by the Holders. The fees and expenses referred to in the foregoing sentence shall include,
without limitation, (i) all registration and filing fees (including, without limitation, fees and expenses (A) with respect to
any filings required to be made with the Trading Market on which the Common Stock is then listed for trading, and (B) in compliance
with applicable state securities or Blue Sky laws), (ii) printing expenses (including, without limitation, expenses of printing
certificates for Registrable Securities and of printing prospectuses if the printing of prospectuses is reasonably requested by
the holders of a majority of the Registrable Securities included in the Registration Statement), (iii) messenger, telephone and
delivery expenses, (iv) fees and disbursements of counsel for the Company, (v) Securities Act liability insurance, if the Company
so desires such insurance, in its sole discretion, and (vi) fees and expenses of all other Persons retained by the Company in connection
with the consummation of the transactions contemplated by this Agreement.

5.             
Indemnification

(a)               
Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and
hold harmless the Holder, the officers, directors, agents and employees of it, each Person who controls the Holder (within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers, directors, agents and
employees of each such controlling Person, to the fullest extent permitted by applicable law, from and against any and all losses,
claims, damages, liabilities, costs (including, without limitation, reasonable attorneys' fees) and expenses relating to an Indemnified
Party’s actions to enforce the provisions of this Section 5 (collectively, “Losses”), as
incurred, to the extent arising out of or relating to any untrue or alleged untrue statement of a material fact contained in the
Registration Statement, any Prospectus or any form of prospectus, or in any amendment or supplement thereto, or in any preliminary
prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein
or necessary to make the statements therein (in the case of any Prospectus or form of prospectus or supplement thereto, in light
of the circumstances under which they were made) not misleading, except to the extent, but only to the extent, that (1) such untrue
statements or omissions are based solely upon information regarding such Holder furnished (or in the case of an omission, not furnished)
in writing to the Company by or on behalf of such Holder expressly for use therein, or to the extent that such information relates
to such Holder or such Holder's proposed method of distribution of Registrable Securities and was reviewed and expressly approved
in writing by such Holder expressly for use in the Registration Statement, such Prospectus or such form of prospectus, or in any
amendment or supplement thereto, (2) in the case of an occurrence of an event of the type specified in Section 3(b)(ii)-(v),
the use by such Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing that the Prospectus
is outdated or defective and prior to the receipt by such Holder of written notice from the Company that the use of the applicable
Prospectus may be resumed, or (3) the failure of the Holder to deliver a prospectus prior to the confirmation of a sale. The Company
shall notify the Holders promptly of the institution, threat or assertion of any Proceeding of which the Company is aware in connection
with the transactions contemplated by this Agreement.

    	7 

     

    

 

(b)              
Indemnification by Holder. The Holder shall indemnify and hold harmless the Company, its directors, officers, agents
and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20
of the Exchange Act), and the directors, officers, agents or employees of such controlling Persons, to the fullest extent permitted
by applicable law, from and against all Losses, as incurred, to the extent arising out of or based upon: (x) the Holder's failure
to comply with the prospectus delivery requirements of the Securities Act or (y) any untrue or alleged untrue statement of a material
fact contained in any Registration Statement, any Prospectus, or any form of prospectus, or in any amendment or supplement thereto
or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required
to be stated therein or necessary to make the statements therein not misleading (i) to the extent, but only to the extent, that
such untrue statement or omission is contained in any information so furnished (or in the case of an omission, not furnished)
in writing by or on behalf of such Holder to the Company specifically for inclusion in the Registration Statement or such Prospectus
(or, in each case, any amendment or supplement thereto) or (ii) to the extent that (1) such untrue statements or omissions are
based solely upon information regarding such Holder furnished (or in the case of an omission, not furnished) in writing to the
Company by or on behalf of such Holder expressly for use therein, or to the extent that such information relates to such Holder
or such Holder's proposed method of distribution of Registrable Securities, such Prospectus or such form of Prospectus or in any
amendment or supplement thereto, or (2) in the case of an occurrence of an event of the type specified in Section 3(b)(ii)-(v),
the use by such Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing that the Prospectus
is outdated or defective and prior to the receipt by such Holder of written notice from the Company that the use of the applicable
Prospectus may be resumed, or (3) the failure of the Holder to deliver a Prospectus prior to the confirmation of a sale. In no
event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the Subscription Amount
paid by the Holder in the Purchase Agreement.

(c)               
Conduct of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled
to indemnity hereunder (an “Indemnified Party”), such Indemnified Party shall promptly notify the Person
from whom indemnity is sought (the “Indemnifying Party”) in writing, and the Indemnifying Party shall
have the right to assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party
and the payment of all fees and expenses incurred in connection with defense thereof; provided, however, that the
failure of any Indemnified Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities
pursuant to this Agreement, except and only to the extent that such failure shall have materially prejudiced the Indemnifying Party.

 

    	8 

     

    

An Indemnified Party
shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the fees
and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party has
agreed in writing to pay such fees and expenses; (2) the Indemnifying Party shall have failed promptly to assume the defense of
such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding; or (3) the named
parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party,
and such Indemnified Party shall have been advised by counsel that a conflict of interest is likely to exist if the same counsel
were to represent such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party notifies the Indemnifying
Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall
not have the right to assume the defense thereof and the reasonable fees and expenses of one separate counsel for all Indemnified
Parties in any matters related on a factual basis shall be at the expense of the Indemnifying Party). The Indemnifying Party shall
not be liable for any settlement of any such Proceeding effected without its written consent, which consent shall not be unreasonably
withheld. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any
pending Proceeding in respect of which any Indemnified Party is a party, unless such settlement includes an unconditional release
of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding.

All reasonable fees
and expenses of the Indemnified Party (including reasonable fees and expenses to the extent incurred in connection with investigating
or preparing to defend such Proceeding in a manner not inconsistent with this Section) shall be paid to the Indemnified Party,
as incurred, within ten (10) Trading Days of written notice thereof to the Indemnifying Party; provided, however,
that the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and expenses applicable
to such actions for which such Indemnified Party is not entitled to indemnification hereunder, determined based upon the relative
faults of the parties.

(d)              
Contribution. If a claim for indemnification under Section 5(a) or Section 5(b) is unavailable
to an Indemnified Party (by reason of public policy or otherwise), then each Indemnifying Party, in lieu of indemnifying such
Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such
proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Party in connection with
the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The
relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether
any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission of
a material fact, has been taken or made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party,
and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such action, statement
or omission. The amount paid or payable by a party as a result of any Losses shall be deemed to include, subject to the limitations
set forth in Section 5(c), any reasonable attorneys' or other reasonable fees or expenses incurred by such party in
connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification
provided for in this Section was available to such party in accordance with its terms.

    	9 

     

    

 

(e) 
          Rule 144. As long as any Holder owns any Notes, Warrants or Registrable
Securities, the Company covenants to timely file (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to Section 13(a) or 15(d) of the
Exchange Act. As long as any Holder owns any Notes, Warrants or Registrable Securities, if the Company is not required to
file reports pursuant to Section 13(a) or 15(d) of the Exchange Act, it will prepare and furnish to the Holders and make
publicly available in accordance with Rule 144(c) promulgated under the Securities Act annual and quarterly financial
statements, together with a discussion and analysis of such financial statements in form and substance substantially similar
to those that would otherwise be required to be included in reports required by Section 13(a) or 15(d) of the Exchange Act,
as well as any other information required thereby, in the time period that such filings would have been required to have been
made under the Exchange Act. The Company further covenants that it will take such further action as any Holder may reasonably
request, all to the extent required from time to time to enable such person to sell Conversion Shares and Warrant
Shares without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated
under the Securities Act, including providing any legal opinions relating to such sale pursuant to Rule 144, if such person
is deemed by the Company’s counsel to be in compliance with the rules and regulations set forth in Rule 144. Upon the
request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to
whether it has complied with such requirements.

6.            
Miscellaneous.

(a)               
Compliance. The Holder covenants and agrees that it will comply with the prospectus delivery requirements of the
Securities Act as applicable to it in connection with sales of Registrable Securities pursuant to the Registration Statement.

(b)              
Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended,
modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the same shall
be in writing and signed by the Company and each Holder of the then outstanding Registrable Securities.

(c)               
Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder
shall be in writing and shall be deemed given and effective on the earliest of (i) the Trading Day following the date of delivery
to the courier service, if sent by nationally recognized overnight courier service, (ii) the third Trading Day following the date
of mailing, if sent by first-class, registered or certified mail, postage prepaid, (iii) the Trading Day following transmission
by electronic mail with receipt confirmed or acknowledged, or (iv) upon actual receipt by the party to whom such notice is required
to be given. The address for such notices and communications shall be delivered and addressed as set forth in the Purchase Agreement
or to such other address as shall be designated in writing from time to time by a party hereto.

    	10 

     

    

 

(d)              
Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted
assigns of each of the parties and shall inure to the benefit of the Holder.

(e)               
Execution and Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed
shall be deemed to be an original and, all of which taken together shall constitute one and the same Agreement. In the event that
any signature is delivered by facsimile transmission, such signature shall create a valid binding obligation of the party executing
the same (or on whose behalf such signature is executed) with the same force and effect as if such facsimile signature were the
original thereof.

(f)               
Governing Law. This Agreement shall be governed by and construed exclusively in accordance with the internal laws
of the State of New York without regard to the conflicts of laws principles thereof. The parties hereto hereby irrevocably agree
that any suit or proceeding arising directly and/or indirectly pursuant to or under this Agreement, shall be brought solely in
a federal or state court located in the City, County and State of New York. By its execution hereof, the parties hereby covenant
and irrevocably submit to the in personam jurisdiction of the federal and state courts located in the City, County
and State of New York and agree that any process in any such action may be served upon any of them personally, or by certified
mail or registered mail upon them or their agent, return receipt requested, with the same full force and effect as if personally
served upon them in New York. The parties hereto waive any claim that any such jurisdiction is not a convenient forum for any such
suit or proceeding and any defense or lack of in personam jurisdiction with respect thereto. In the event of any such action
or proceeding, the party prevailing therein shall be entitled to payment from the other party hereto of its reasonable counsel
fees and disbursements.

(g)              
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use
their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result
as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention
of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any
of such that may be hereafter declared invalid, illegal, void or unenforceable.

(h)              
Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect
the meaning hereof.

 

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

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	 	JERRICK MEDIA HOLDINGS, INC.
	 	 
	 	By: 	
	 	 	Jeremy
    Frommer
Chief Executive Officer

 

	 	 	 
	 	 	 	 
	By:	 	 	 
	 	Name:	 	 
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	Address	 	 
	 	 	 
	 	 	 
	Facsimile Number	 	 

       

 

    	12

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