Document:

Exhibit
10.108

 

OUTSOURCING
AGREEMENT

 

This
OUTSOURCING AGREEMENT (this “Agreement”), dated as of October 3, 2019 (the “Effective Date”),
is made by and between Meredith Corporation, an Iowa corporation (“Meredith”), and theMaven, Inc., a Delaware
corporation (“Service Recipient”). Meredith and Service Recipient shall be referred to herein from time to
time as the “Parties.”

 

WHEREAS,
pursuant to that certain Asset Purchase Agreement (the “Purchase Agreement”), dated as of May 24, 2019 by and
among Meredith, TI Gotham Inc., and ABG-SI LLC (“Buyer”), Buyer agreed to purchase certain specified assets and assume
certain specified liabilities of the “Sports Illustrated” Business (as defined therein) as set forth therein;

 

WHEREAS,
Buyer licensed to Service Recipient the right to publish the print and digital editions of the Magazines (as defined below);

 

WHEREAS,
Buyer has requested that Meredith enter into this Agreement with Service Recipient to facilitate the transfer of the assets pursuant
to the Purchase Agreement;

 

WHEREAS,
Meredith will provide to Service Recipient certain services, as more particularly described in this Agreement, following the Second
Closing; and

 

WHEREAS,
each of Meredith and Service Recipient desire to reflect the terms of their agreement with respect to such services herein.

 

NOW,
THEREFORE, in consideration of the premises and mutual promises contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows:

 

ARTICLE
I.

 

CERTAIN
DEFINITIONS

 

Section
1.01. Definitions. As used in this Agreement, the following terms have the respective meanings set forth below.

 

“Affiliate”
means, with respect to any Person, any other Person who directly or indirectly, through one or more intermediaries, controls,
is controlled by, or is under common control with, such Person. The term “control” means the possession, directly
or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership
of voting securities, by contract, or otherwise, and the terms “controlled” and “controlling” have meanings
correlative thereto. Notwithstanding anything to the contrary, no Person shall be deemed an “Affiliate” of Service
Recipient by virtue of his, her or its direct or indirect ownership interest in Service Recipient.

 

“Agreement”
has the meaning set forth in the introductory paragraph to this Agreement.

 

“Ancillary Documents” has the meaning
ascribed to it in the Purchase Agreement.

 

“Applicable
Termination Date” means, with respect to each Service, the termination date specified with respect to such Service or
Service Category, as applicable, in Schedule A

 

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“Business”
has the meaning set forth in the Purchase Agreement.

 

“Business
Day” means a day, other than a Saturday, Sunday or federal holiday, on which commercial banks in New York City are open
for the general transaction of business.

 

“Change
Order” has the meaning set forth in Section 2.02(a).

 

“Confidential
Information” has the meaning set forth in Section 8.05(a).

 

“Consent”
has the meaning set forth in Section 2.02(b).

 

“Consumer
Data” means all subscriber, user or consumer data related to the Magazine in existence as of the date of this Agreement.

 

“Disclosing
Party” has the meaning set forth in Section 8.05(a).

 

“Dispute” has the meaning set forth in
Section 8.13.

 

“Effective
Date” has the meaning set forth in the introductory paragraph to this Agreement.

 

“Fees”
means, with respect to each Service or Service Category, the fees specified with respect to such Service or Service Category,
as applicable, in Schedule C, to be paid by Service Recipient in respect of such Service or Service Category to Meredith.

 

“Force
Majeure Event” has the meaning set forth in Section 8.03.

 

“Governmental
Entity” means any United States or foreign (i) federal, state, local, municipal or other government, (ii) governmental
or quasi-governmental entity of any nature (including any governmental agency, branch, department, official, or entity and any
court or other tribunal) or (iii) body exercising or entitled to exercise any administrative, executive, judicial, legislative,
police, regulatory, or taxing authority or power of any nature, including any arbitral tribunal.

 

“Group”
means the Meredith Group or Service Recipient Group, as applicable.

 

“Indemnified
Party” has the meaning set forth Section 5.01.

 

“Indemnifying
Party” has the meaning set forth in Section 5.01.

 

“Indemnitee”
means any person entitled to indemnification or reimbursement pursuant to ARTICLE V.

 

“Law”
means any United States or foreign federal, national, state, municipal or local law (including common law), statute, ordinance,
regulation, order, executive order, decree, rule, constitution, or treaty, or similar requirement of any Governmental Entity.

 

“Loss”
or “Losses” means damages, losses, liabilities, penalties, fines, charges, obligations, costs or settlement
payments, claims of any kind, interest or expenses (including reasonable attorneys’ fees and expenses).

 

“Magazine”
means the magazines entitled SPORTS ILLUSTRATED and SPORTS ILLUSTRATED FOR KIDS.

 

“Meredith”
has the meaning set forth in the introductory paragraph to this Agreement.

 

“Meredith Group” means Meredith
and its subsidiaries.

 

“Parties”
has the meaning set forth in the introductory paragraph to this Agreement.

 

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“Person”
means an individual, partnership, corporation, limited liability company, joint stock company, unincorporated organization or
association, joint venture, association, or other similar entity.

 

“Purchase
Agreement” has the meaning set forth in the recitals to this Agreement.

 

“Receiving
Party” has the meaning set forth in Section 8.05(a).

 

“Second
Closing” has the meaning set forth in the Purchase Agreement.

 

“Service Categories” means the categories
of Services identified in Schedule A.

 

“Service
Manager” has the meaning set forth in Section 2.03(a).

 

“Service
Recipient” has the meaning set forth in the recitals to this Agreement.

 

“Service
Recipient Content” means the content, materials or trademarks provided to Meredith by Service Recipient pursuant to
this Agreement after the Effective Date, including Buyer and third party content, materials, advertisements and marketing materials.

 

“Service
Recipient Group” means Service Recipient and its subsidiaries and the Affiliates of any thereof to the extent that such
subsidiaries and Affiliates materially participate in the operation of the Magazine after the Effective Date.

 

“Service
Recipient Trademarks” means the trademarks provided to Meredith by Service Recipient pursuant to this Agreement for
use by Meredith in connection with the Services.

 

“Services”
means the individual services included within the various Service Categories identified in Schedule A.

 

“Software”
has the meaning set forth in Section 2.05(b).

 

“Statement”
has the meaning set forth in Section 6.02.

 

“Sub-Contractor”
has the meaning set forth in Section 2.04(b).

 

“Term”
has the meaning set forth in Section 4.01.

 

“Third-Party
Costs” has the meaning set forth in Section 2.04(e).

 

“Third-Party
Service Providers” has the meaning set forth in Section 2.04(c).

 

“Transition Services” has the meaning
set forth in Section 4.02(f).

 

ARTICLE
II.

 

SERVICES

 

Section
2.01. Provision of Services.

 

(a)
On the terms and subject to the conditions set forth herein, commencing as of the Effective Date, Meredith shall have the exclusive
right to provide, and shall cause the applicable members of the Meredith Group and other parties providing services to Meredith
(including Third- Party Service Providers), to provide to Service Recipient the Services set forth in Schedule A for the
Magazine and its corresponding digital magazine editions. Schedule A may be updated to add or remove any of the Services
in accordance with Section 2.02.

 

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(b)
Service Recipient may, at its option, from time to time to the extent there is no additional cost to Meredith or its Affiliates,
delegate any or all of its rights to receive one or more of the Services under this Agreement to any member of Service Recipient
Group. Service Recipient shall be responsible for the acts or omissions of Service Recipient Group.

 

(c)
Meredith shall provide the Services using commercially reasonable efforts, and the Services shall be of a quality substantially
similar to that which Meredith provides for its own internal use of services that are the same as or similar to the Services.
Meredith agrees that the Services will meet the performance standards set forth on Schedule B. The Parties acknowledge
that Meredith may make changes from time to time in the manner of performing Services if Meredith is making similar changes in
performing the same or substantially similar Services for itself or other members of the Meredith Group. The foregoing shall include
making changes to specific vendors, licensors, software, platforms and Third-Party Service Providers. The Parties will cooperate
in good faith to remove the Services to the extent that a particular Service is no longer part of Meredith’s standard business
practice for the Meredith Group. In the event that any Service is removed pursuant to this Section 2.01(c), Meredith will
provide transitional assistance with respect to any such removed Service as reasonably necessary.

 

(d)
Meredith and Service Recipient agree that the specifications of the Magazine (including publication dates, frequency, size, page
count, rate base, and advertising/editorial ratio) shall be the specifications of the Magazine immediately prior to the Effective
Date. Such specifications may be amended from time to time by the Parties in accordance with Section 2.02.

 

(e)
Except as otherwise set forth in this Agreement, Meredith covenants and agrees that the manner, nature, quality and standard of
care (the “Standard of Care”) applicable to the provision or procurement by Meredith of the Services hereunder
shall be substantially the same as that of similar services which Meredith provided or procured for itself and its Affiliates
prior to the Effective Date. The Parties acknowledge that the manner and scope of the Services requested from time to time by
Service Recipient may impact how the Services are performed by Meredith. Meredith shall allocate to the Services any delay or
suspension of performance of any Service in a manner no less favorable than the manner by which it allocates such delay or suspension
of performance of Services to itself or any of its Affiliates’ business units or locations with respect to the provision
of comparable services. All current policies and internal reporting procedures of Meredith and its Affiliates with respect to
the Standard of Care shall remain the same throughout the Term. If Meredith fails to abide by the Standard of Care in the performance
of any applicable Service, upon receiving the written request of Service Recipient, Meredith shall promptly correct the error,
or re-perform or perform the Service, as requested by Service Recipient.

 

(f)
Commencing as of the Effective Date, Service Recipient shall, and shall cause the applicable members of Service Recipient Group
to pay, perform, discharge, and satisfy, as and when due, its obligations as Service Recipient under this Agreement, in each case
in accordance with the terms of this Agreement. Service Recipient shall meet the deadlines and obligations mutually agreed to
by the Parties, including any applicable lead times for each of the Services.

 

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Section
2.02. Changes to Services.

 

(a)
Service Recipient may, from time to time, request changes to the nature and scope of Services to be provided under this Agreement
(including the addition of new Services). Meredith agrees to consider any proposed changes in good faith and to notify Service
Recipient of the proposed adjustment to the Fees should Meredith agree to the change to the Services. The Parties may revise,
amend, alter, or otherwise change the nature and scope of the Services being provided hereunder by mutual written agreement incorporating
the change to the Service and the adjusted Fees (each, a “Change Order”). Each Change Order, when fully executed
by the Parties, shall be deemed to be incorporated into, and made a part hereof, this Agreement.

 

(b)
Service Recipient acknowledges that a Change Order may require the consent, approval or authorization of a Third-Party Service
Provider (each, a “Consent”) and nothing in this Agreement shall be deemed to require the provision of any
Service pursuant to a Change Order unless and until such Consent has been obtained. Meredith shall use commercially reasonable
efforts to obtain as reasonably promptly as possible any Consent that Meredith determines in its reasonable discretion is necessary
for the performance of Meredith’s obligations pursuant to this Agreement and the Change Order. Any fees, expenses or other
reasonable out-of-pocket costs incurred in addition to the Third-Party Costs shall be paid by Service Recipient. In the event
that the Consent, if required in order for Meredith to provide Services under the Change Order, is not obtained reasonably promptly,
Meredith shall notify Service Recipient and the Change Order will be terminated, unless the Parties agree to an alternative plan
(including Service Recipient obtaining a contract with such Person in its own name) for the provision of the Services under the
Change Order.

 

(c)
In the event that any service necessary to operate the Business as it has historically been operated prior to the Second Closing
was not included in Schedule A, and Service Recipient reasonably requires any such service in order to operate the Business
following the Second Closing, then, Service Recipient may notify Meredith that it wishes to receive such services. Promptly following
Meredith’s receipt of such notice, but subject to the receipt of any necessary Consents pursuant to Section 2.02(b),
Meredith and Service Recipient agree to amend this Agreement to add any such service to Schedule A, on terms reasonably
satisfactory to each of Meredith and Service Recipient.

 

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Section
2.03. Service Managers; Approvals.

 

(a)
Service Recipient and Meredith shall cooperate in good faith with each other in connection with the performance of the Services
hereunder. Meredith and Service Recipient agree to appoint one or more of its respective employees (each such employee, a “Service
Manager”) who will have overall responsibility for managing and coordinating the delivery and receipt of one or more
Services. The Service Managers will consult and coordinate with each other regarding the provision of Services. Each Service Manager
shall notify the other Party’s Service Manager of any failures, incidents or issues that may arise that present a risk to
the timely delivery of the Services generally to the extent such Service Manager is aware of a potential failure, incident or
issue. Meredith shall, as soon as reasonably practicable: (i) investigate the underlying cause(s) of the issue; (ii) use commercially
reasonable efforts to correct the failure and promptly resume performance of the Services in accordance with this Agreement; and
(iii) advise Service Recipient of the status of the issue and the remedial efforts being undertaken with respect thereto. Service
Recipient shall make available employees and other resources reasonably requested by Meredith in order to facilitate provision
of the Services. Service Recipient will, or will ensure that its Service Manager will, as applicable, perform or respond to, within
a reasonable time, any requests by Meredith or its Service Manager for directions, instructions, approvals, authorizations, decisions,
or other information reasonably necessary for Meredith to perform the Services. If Meredith fails to provide any Service when
and as required by this Agreement as a result of a failure of Service Recipient or its Service Manager to provide timely direction,
instruction, approval, authorization, decision, or other information following a written request by Meredith, Meredith shall not
be in breach or default of this Agreement with respect to such failure. Service Recipient and Meredith shall have the right, upon
prior written notice to the other, to replace its respective Service Managers from time to time with a substitute manager.

 

(b)
To the extent any approval of Service Recipient is required under this Agreement, such approval must be received in writing (including
but not limited to email). With regard to any such required approvals and except in such cases where any other period of time
is mutually agreed to by the Parties, Service Recipient shall respond within three (3) Business Days of receipt by Service Recipient’s
Service Manager of an email requesting approval as required under this Agreement. If Service Recipient fails to respond within
the foregoing approval period, Meredith may resend its initial notice together and indicate that the approval notice is a final
notice. If there is no response from Service Recipient to such second notice within two (2) additional Business Days, Service
Recipient shall be deemed to have approved the request.

 

Section
2.04. Personnel; Sub-Contractors; Third-Party
Service Providers.

 

(a)
Meredith shall determine in its sole discretion the personnel who shall perform the Services to be provided by it; provided, that
such persons shall have the requisite experience and qualifications to perform the applicable Services. Meredith shall pay for
all personnel and other related expenses, including salary or wages and benefits of its employees performing the Services, as
required by this Agreement. No Person providing Services to Service Recipient shall be deemed to be, or have any rights as, an
employee or agent of such Service Recipient. Meredith shall have no authority to bind Service Recipient by contract or otherwise.

 

(b)
Meredith may, at its option, from time to time and at no additional cost to Service Recipient or its Affiliates, delegate any
or all of its obligations to perform Services under this Agreement to any one or more members of the Meredith Group; provided
that such member of the Meredith Group is capable of performing such Services without a material diminution in quality. In addition,
Meredith may, as it deems necessary or desirable, engage the services of other professionals, consultants or other third parties
(each, a “Sub-Contractor”), in connection with the performance of the Services; provided, that Meredith shall
remain responsible for the Sub- Contractor’s performance of the applicable Services in accordance with the terms of this
Agreement, and Service Recipient shall not be liable for any costs with respect to such Sub- Contractor in excess of the Costs
corresponding to such Services prior to the engagement of such Sub-Contractor (except to the extent that such Costs would otherwise
be payable by Service Recipient (e.g., overtime costs)).

 

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(c)
Service Recipient and Meredith hereby acknowledge and agree that certain Services will be provided to Service Recipient by third
parties (each, a “Third-Party Service Provider”). The provision of any Services hereunder by Third-Party Service
Providers shall either be (i) in accordance with agreements entered into by Meredith on a company-wide basis or for multiple Meredith
magazines or for the Business, and not specifically for Service Recipient, or (ii) with the prior written consent of Service Recipient,
entered into by Meredith specifically for Service Recipient. Such Third-Party Service Providers may be set forth on Schedule
A in connection with the related Services or may otherwise be provided as a necessary or inherent part of the Services, whether
or not specifically itemized on Schedule A. Service Recipient hereby agrees to comply with Meredith’s reasonable
instructions provided in writing with respect to compliance with the terms of such agreements with the Third-Party Service Providers.

 

(d)
Service Recipient and Meredith hereby acknowledge and agree that certain third party Intellectual Property Rights will be licensed,
sublicensed or otherwise provided by Meredith for the benefit of Service Recipient to the extent that such licenses or sublicenses
are necessary in connection with and ancillary to the provision of the Services, and that the term for which such licenses or
sublicenses will be provided to Service Recipient will be the same as the term for which Service Recipient continues to receive
the relevant Services. Such licenses or sublicenses may be set forth on Schedule A in connection with the related Services
or may otherwise be provided as a necessary or inherent part of the Services, and, whether or not specifically itemized on Schedule
A, may include licenses to Intellectual Property Rights, including Software or other systems. Service Recipient hereby agrees
to comply with Meredith’s reasonable instructions provided in writing with respect to compliance with the terms of such
licenses and sublicenses.

 

(e)
Service Recipient shall be responsible for the payment of all costs attributable to Service Recipient for Third-Party Service
Providers, products and any licenses, in each case to the extent set forth on Schedule C or otherwise identified to Service
Recipient (the “Third-Party Costs”).

 

(f)
Meredith will work together with Service Recipient in good faith to mitigate any problems that may arise with respect to the provision
of Services by Third-Party Service Providers, including holding Third-Party Service Providers to terms of the applicable agreements
to same extent Seller does on behalf of its owned and operated publications. Meredith shall not have any liability whatsoever
to Service Recipient or be deemed in breach of its obligations under this Agreement as a result of any breach of any agreements
or failure to perform in accordance with the relevant agreement by any Third-Party Service Provider or any licensor under Section
2.04(d), except to the extent caused by Meredith’s gross negligence or willful misconduct. In case performance of any
terms or provisions hereof shall be delayed or prevented, in whole or in part, because of or related to the breach or non-performance
by any Third-Party Service Provider, then, upon prompt written notice thereof by Meredith to Service Recipient, Meredith shall
be excused from its obligations hereunder during the period such breach or non-performance or its effects continue, and no liability
shall attach against Meredith on account thereof; provided, however, that Meredith promptly resumes the required
performance upon the cessation of the breach or non- performance or its effects.

 

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(g)
To the extent that Meredith does not have the Consent of a Third-Party Service Provider or licensor to provide a Service or license
to Service Recipient, Service Recipient agrees to obtain, as soon as reasonably practicable using commercially reasonable efforts,
its own agreement with such Third-Party Service Provider or licensor. Meredith agrees to provide reasonable assistance to assist
Service Recipient in obtaining its own agreement, including providing Service Recipient with contact information and making introductions
with such Third- Party Service Providers and licensors. The Parties agree to work together in good faith to prioritize the transition
of certain mutually agreed to agreements.

 

Section
2.05. Licenses; Ownership.

 

(a)
Each Party hereby grants to the other Party a limited, non-exclusive, worldwide, royalty-free, nontransferable license, without
the right to sublicense (except to a member of the Meredith Group or a Sub-Contractor who is providing Services on Meredith’s
behalf, solely to the extent necessary for such member of the Meredith Group or Sub-Contractor to provide the Services), for the
Term of this Agreement, to use the applicable Intellectual Property Rights (including, with respect to Service Recipient, Service
Recipient Content, Service Recipient Trademarks and Consumer Data) solely to the extent necessary for the other Party to perform
its obligations or receive the Services provided hereunder, as applicable. Meredith shall have the right to integrate the Consumer
Data into its central consumer database and data management platform, and to use such Consumer Data in a similar manner in which
it uses its other consumer data.

 

(b)
Subject to the terms and conditions of this Agreement, to the extent the Services include the use of any Meredith software (the
“Software”), Meredith grants to Service Recipient a non-exclusive, non-transferable, non-sublicensable license
during the Term, solely for Service Recipient’s internal business purposes to access, use, perform, and digitally display
the Software as required for use of the Services. As between Meredith and Service Recipient, the Meredith Software is the exclusive
property of Meredith and its suppliers. Service Recipient agrees that, except to the extent permitted by this Agreement, the Purchase
Agreement or any of the other Ancillary Documents, it will not, and will not permit any user or other party to: (a) permit any
party to access the Software or use the Services, other than Service Recipient users authorized under this Agreement; (b) modify,
adapt, alter or translate the Software, except as expressly allowed herein; (c) sublicense, lease, rent, loan, distribute, or
otherwise transfer the Software to any third party; (d) reverse engineer, decompile, disassemble, or otherwise derive or determine
or attempt to derive or determine the source code (or the underlying ideas, algorithms, structure or organization) of the Software;
(e) use or copy the Software except as expressly allowed under this subsection; or (f) disclose or transmit any data contained
in the Software to any individual, except as expressly allowed herein. Except as expressly set forth herein in the Purchase Agreement
or in any of the other Ancillary Documents, no express or implied license or right of any kind is granted to Service Recipient
regarding the Software, or any part thereof, including any right to obtain possession of any source code, data or other technical
material relating to the Software.

 

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(c)
Meredith acknowledges and agrees that it will acquire no right, title, or interest (including any license rights or rights of
use) to any work product resulting from the provision of Services hereunder for Service Recipient’s exclusive use and such
work product shall remain the exclusive property of Service Recipient. To the extent that such work product does not automatically
vest with Service Recipient as a work made for hire, Meredith hereby assigns all right, title and interest in and to such work
product to Service Recipient. Service Recipient acknowledges and agrees that it will acquire no right, title or interest (other
than a non-exclusive, perpetual, royalty-free worldwide right of use) to any work product resulting from the provision of Services
hereunder that is not, in the reasonable judgment of Meredith, for Service Recipient’s exclusive use and such work product
shall remain the exclusive property of Meredith. To the extent Service Recipient has or obtains any rights in any such work product
that is not for Service Recipient’s exclusive use, Service Recipient hereby assigns to Meredith all of its right, title
and interest to such work product. Meredith hereby grant to Service Recipient a non-exclusive, perpetual, royalty-free, worldwide
license for Service Recipient and any Service Recipient Group member (and any of their permitted successors or assigns) to use,
modify, enhance, and reproduce pre-existing intellectual property or other work product owned by Meredith, any member of Meredith
Group, or a Sub-Contractor that may be embedded within or necessary for use of any work product that is the subject of this Section
2.05(c). Except as expressly set forth in this Section 2.05, each Party retains all right, title and interest in and
to its Intellectual Property Rights and no license or right, express or implied, is granted under this Agreement.

 

(d)
As between Meredith and Service Recipient, Service Recipient shall be the sole owner and have all right, title and interest in
and to the Magazine, Service Recipient Trademarks and Service Recipient Content. All uses of Service Recipient Trademarks and
the goodwill generated thereby shall inure solely to the benefit and be the property of Service Recipient.

 

Section
2.06. Responsibilities of Meredith. Meredith shall:

 

(a)
maintain sufficient resources to perform its obligations hereunder (notwithstanding any provision herein to the contrary);

 

(b)
promptly notify Service Recipient of any staffing problems and any other material problems that have occurred or are reasonably
anticipated to occur that would reasonably be expected to materially adversely affect Meredith’s ability to provide the
Services and the parties shall work together in good faith (including, on the part of Meredith, using commercially reasonable
efforts) to remedy any such problems; and

 

(c)
promptly notify Service Recipient of any compliance problems in connection with the Services that have occurred or are reasonably
anticipated to occur, and of which Meredith becomes aware.

 

Section
2.07. Responsibilities of Service Recipient. Service Recipient shall:

 

(a)
provide Meredith with access to its facilities as is reasonably necessary for Meredith to perform the Services it is obligated
to provide hereunder;

 

(b)
provide Meredith with information and documentation reasonably necessary for Meredith to perform the Services it is obligated
to provide hereunder; and

 

(c)
make available, as reasonably requested by Meredith, reasonable access to resources (including, without limitation, personnel)
and provide decisions in a reasonably timely manner in order that Meredith may perform its obligations hereunder. Meredith shall
incur no liability of any kind caused by Service Recipient’s failure to provide reasonable access.

 

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Section
2.08. Mutual Responsibilities. The Parties will use good faith efforts to cooperate with each other in all matters
relating to the provision and receipt of Services. Such cooperation shall include:

 

(a)
exchanging information relevant to the provision of Services hereunder;

 

(b)
good faith efforts to mitigate problems with the work environment interfering with the Services; and

 

(c)
each Party requiring its personnel to obey the security regulations and other published policies of the other Party while on the
other Party’s premises.

 

Notwithstanding
any of the foregoing or anything else herein, neither Party will be obligated to perform any action it reasonably believes is
in violation of any Law.

 

ARTICLE
III.

 

COMPENSATION

 

Section
3.01. Compensation for Services. As compensation for each Service rendered pursuant to this Agreement, Service Recipient
shall be required to pay to Meredith the Fees specified for such Service in Schedule C. The Costs set forth on Schedule
C are the Costs of Meredith personnel to perform the Services. Such costs are on a “cost plus most-favored nation”
basis as compared to the arrangements entered into by Meredith with the acquirors of the Time and Fortune titles
for the same services, as previously provided to Service Recipient (i.e., any element of profit or other comparable compensation
to Meredith for a Service Category will be no less favorable to Service Recipient than the profit or other comparable compensation
payable by the acquirors of the Time and Fortune titles for the those services, subject to any related terms and
conditions and other differences in the provision of such services to the other acquirors). The Costs on Schedule C do
not include costs allocable to Service Recipient for Third-Party Service Providers and any licenses which are necessary for Meredith
to perform the Services. Meredith shall allocate such costs to Service Recipient in a manner consistent with how Meredith allocates
corresponding costs to the acquirors of the Time and Fortune titles, as previously provided to Service Recipient.
At the request of Service Recipient, Meredith will provide copies of the relevant portions of the invoices, books, and records
substantiating the third-party costs (including, for the avoidance of doubt, relevant documentation substantiating actual consumption
or other metrics relating to Service Recipient or other Meredith publications to the extent third party costs are allocated on
pro-rata basis).

 

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Section
3.02. Payment Terms.

 

(a)
Meredith shall invoice Service Recipient monthly, within twenty (20) Business Days after the end of each month, or at such other
interval specified with respect to a particular Service in Schedule C, an amount equal to the aggregate Fees and Third-Party
Costs due for all Services provided in such month or other specified interval, as applicable. Service Recipient shall pay, or
shall cause another member of its Group to pay, such amount in full within thirty (30) days after receipt of each invoice by wire
transfer of immediately available funds to the account designated by Meredith for this purpose. Notwithstanding the foregoing,
solely with respect to the Fee (and not, for the avoidance of doubt, the Third-Party Costs), Service Recipient shall pay the Fees
for amounts due for October 2019 services no later than January 31, 2020, for November 2019 services no later than February 29,
2020, and for December 2019 services no later than March 31, 2020. Invoices shall be directed to Service Recipient’s Service
Manager or to such other person designated in writing from time to time by such Service Manager. Each invoice shall set forth
in reasonable detail the calculation of the charges and amounts for each Service during the month or other specified interval
to which such invoice relates. In addition to any other remedies for non- payment, if any payment is not received by Meredith
on or before the date such amount is due, then a late payment interest charge, calculated at a 10% per annum rate, shall immediately
begin to accrue and any late payment interest charges shall become immediately due and payable in addition to the amount otherwise
owed under this Agreement. Notwithstanding anything herein to the contrary, in the event that Service Recipient in good faith
disputes any portion of an invoice delivered hereunder by written notice to Meredith within 10 days following receipt of such
invoice, Service Recipient shall not be deemed to be in breach of this Agreement for non-payment pending resolution of the applicable
dispute; provided, that Service Recipient shall pay any portion of such invoice which is not in dispute in accordance with the
provisions of this Section 3.02; and provided, further, that any amounts disputed by Service Recipient which are finally
determined to be payable by Service Recipient shall be deemed to have accrued interest at a 10% per annum rate from the date payment
would have become due absent a dispute.

 

(b)
Meredith may apply any receipts due to Service Recipient to any payment due hereunder that is not received by Meredith on or before
the date such amount is due (excluding any amounts disputed in good faith pursuant to Section 3.02(a) above)

 

(c)
Service Recipient shall be responsible for all sales tax, value-added tax, goods and services tax or similar tax imposed or assessed
as a result of the provision of Services by Meredith.

 

Section
3.03. Books and Records. Meredith shall, and shall cause the members the Meredith Group to, maintain complete and
accurate books of account as necessary to reasonably support calculations of the Fees and Third-Party Costs for Services rendered
by the Meredith Group.

 

ARTICLE
IV.

 

TERM

 

Section
4.01. Commencement. This Agreement is effective as of the Effective Date and shall remain in effect (a) until the
occurrence of all Applicable Termination Dates hereunder or (b) with respect to a particular Service, until the occurrence of
the Applicable Termination Date applicable to such Service, unless earlier terminated (x) in its entirety or with respect to a
particular Service in accordance with Section 4.02, or (y) by mutual written consent of the Parties (the “Term”).

 

    	11

     

    

 

Section
4.02. Termination.

 

(a)
Except as otherwise provided in this Agreement or Schedule A, upon not less than forty five (45) days’ prior written
notice to Meredith, Service Recipient shall be entitled to terminate one or more Services Categories in whole (and not in part)
being provided by Meredith for any reason or no reason at all; provided, however, that (i) any costs, fees, or expenses
of Meredith, to the extent resulting directly from such early termination of Services, shall be borne by Service Recipient, and
(ii) the termination of some Service Categories may require the termination of other Service Categories. For the avoidance of
doubt, and notwithstanding anything to the contrary herein, Meredith will no longer have exclusivity pursuant to Section 2.01(a)
with respect to any terminated Service.

 

(b)
If Meredith or Service Recipient materially breaches any of its respective obligations under this Agreement (and the applicable
cure period set forth in Section 7.01 has expired), the non-breaching Party may terminate this Agreement effective upon
not less than thirty (30) days’ written notice of termination to the breaching Party.

 

(c)
Each Party shall have the right to terminate this Agreement immediately without notice to the other Party if such other Party
files a petition for bankruptcy, is adjudicated bankrupt, is insolvent, makes an assignment for the benefit of creditors, or enters
into an agreement with its creditors pursuant to other bankruptcy law; or upon notice to the other Party if a petition for bankruptcy
is filed against such other Party and such petition is not dismissed within forty-five (45) days after

 

(d)
Meredith shall have a right to terminate this Agreement effective on not less than sixty (60) days’ written notice of termination
to Service Recipient in the event that Service Recipient or a Service Recipient Group member (or any officer, director or senior
executive thereof): (i) is indicted or charged with a crime or becomes subject to a lawsuit involving actions of moral turpitude
or is terminated for acts of moral turpitude, (ii) is subject to any action by a third-party relating to moral turpitude or reputational
harm, or (iii) engages in willful conduct that is materially injurious to the business or reputation of Meredith.

 

(e)
In the event of any termination of this Agreement, Service Recipient shall remain liable for all of its obligations that accrued
hereunder prior to the date of such termination, including all obligations of Service Recipient to pay any amounts due to Meredith
hereunder.

 

(f)
Upon request by Service Recipient, upon at least thirty (30) days’ notice prior to the expiration or termination of this
Agreement or the applicable termination date with respect to any Service Category or Service, Meredith shall provide Service Recipient
with reasonable assistance services as Service Recipient may reasonably request to transition the Services to Service Recipient,
or to a third party service provider designated by Service Recipient (“Transition Services”) after notification
of any partial or whole termination or expiration of this Agreement, and such Transition Services shall continue until the effective
date of expiration or termination of this Agreement or the Applicable Termination Date with respect to any Service Category or
Service, as applicable (provided that, in no event will the Transition Services extend beyond the Applicable Termination Date
for any particular Service Category or Service). The Transition Services shall include Meredith’s provision of reasonable
assistance necessary to aid in the transfer of the affected Services from Meredith to Service Recipient or to any new service
provider selected by Service Recipient. Such Transition Services shall be governed by all applicable terms and conditions of the
Agreement; provided, however, that, Service Recipient shall compensate Meredith for any personnel costs (chargeable on a time
and materials basis) as well as third party costs to perform such Transition Services.

 

    	12

     

    

 

(g)
Sections 2.05(b), 2.05(c), 2.05(d), 3.01, 4.02(e), 4.03, Article V and Article
VIII shall survive any expiration or earlier termination of this Agreement.

 

Section
4.03. Return of Books, Records and Files. Upon the request of Service Recipient during the Term or after expiration
or termination of this Agreement, with respect to any Service for which Meredith holds books, records, data or files, including
current and archived copies of computer files, (i) owned solely by Service Recipient or members of Service Recipient Group and
used by Meredith in connection with the provision of a Service pursuant to this Agreement, (ii) created by Meredith and in Meredith’s
possession as a function of and relating solely to the provision of Services pursuant to this Agreement, or (iii) otherwise processed,
generated, calculated, derived or stored by, or transmitted to, Meredith or the Sub-Contractors or any third party providing Services
to the extent such records are solely applicable to Service Recipient, such books, records, data and files shall either be returned
to Service Recipient at Service Recipient’s cost or destroyed by Meredith, with certification of such destruction provided
to Service Recipient upon Service Recipient’s written request. Any information kept by a Meredith in electronic form in
a format proprietary to systems used by a Meredith shall also be transmitted to Service Recipient in a commonly available, non-proprietary
data interchange format, together with such data dictionary or other information as is reasonably required to identify the location,
types and other specifications of data for import into Service Recipient’s system; provided, that Meredith may retain
copies of any computer records or files containing such information which have been created pursuant to automatic archiving or
backup procedures until such computer records or files have been deleted in the ordinary course provided that Meredith maintains
the confidentiality of such information in accordance with the terms and provisions of this Agreement.

 

ARTICLE
V.

 

REPRESENTATIONS;
INDEMNIFICATION; DISCLAIMER

 

Section
5.01. Representations and Warranties. Service Recipient represents and warrants to Meredith that (i) neither Service
Recipient’s execution of this Agreement nor the consummation of the transactions contemplated by this Agreement will (a)
violate any provision of Service Recipient’s certificate of incorporation or bylaws; (b) violate any agreement to which
Service Recipient is a party; (c) require any authorization, consent or approval of, exemption, or other action by, or notice
to, any party; or (d) violate any Law to which Service Recipient is subject; (ii) Meredith’s use of the property licensed
and/or supplied by Service Recipient, including but not limited to Service Recipient Content and Service Recipient Trademarks,
hereunder to Meredith shall not infringe, violate the rights of any third party, violate the right of privacy, be disparaging
or defaming of any third party; and (iii) Service Recipient has secured sufficient rights to all Service Recipient Content for
publication and use by Meredith as anticipated hereunder without cost or expense by Meredith.

 

    	13

     

    

 

Section
5.02. Indemnification. Each Party, and on behalf of each member of its Group (the “Indemnifying Party”),
shall indemnify, defend, and hold harmless each other Party and each member of such other Party’s Group (each, an “Indemnified
Party” and collectively, the “Indemnified Parties”) from and against any and all Losses resulting
directly from any third party claim (“Third Party Losses”), incurred by the Indemnified Parties in connection
with the Services and arising out of, in connection with, or by reason of (a) the Indemnifying Party’s breach of any of
its covenants, obligations, representations or warranties contained herein, or (b) the fraud, gross negligence or willful misconduct
of the Indemnifying Party. Service Recipient shall indemnify, defend and hold harmless Meredith and each member of the Meredith
Group from and against any and all Third Party Losses incurred by Meredith resulting from (i) Meredith’s use of the Consumer
Data, Service Recipient Content or Service Recipient Trademarks; provided that Meredith’s use of such Consumer Data, Service
Recipient Content and/or Service Recipient Trademarks is in accordance with, and permitted by, the terms of this Agreement, or
(ii) any action or inaction of Service Recipient or a Service Recipient Group member.

 

Section
5.03. Limited Warranty. Meredith warrants to Service Recipient that (a) the Services performed by it or any member
of the Meredith Group shall be performed (i) in a workmanlike manner, (ii) in accordance with applicable Laws (including, without
limitation, the United States Foreign Corrupt Practices Act (and other similar Laws imposed by jurisdictions outside of the United
States), applicable import and export controls and applicable Laws relating to labor and employment practices), subject to the
standard set forth in Section 6.01, and (iii) by individuals qualified for the tasks to which they are assigned and (b)
Meredith will, while Services are being provided pursuant to this Agreement, use commercially reasonable efforts to maintain in
full force and effect, and not terminate or cancel, any material licenses, permits and other authorizations existing as of the
Effective Date and required to be maintained by Meredith in order to provide such Services.

 

Section
5.04. DISCLAIMER OF WARRANTIES. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 5.03, THE SERVICES TO BE PROVIDED
UNDER THIS AGREEMENT ARE FURNISHED WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY
OF MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE OR NON-INFRINGEMENT.

 

Section
5.05. Limitation on Liability.

 

(a)
EXCEPT IN THE CASE OF FRAUD, GROSS NEGLIGENCE OR WILLFUL MISCONDUCT AND WITH RESPECT TO EACH PARTY’S INDEMNIFICATION OBLIGATIONS
UNDER THIS AGREEMENT, IN NO EVENT SHALL ANY INDEMNIFYING PARTY BE LIABLE, WHETHER IN CONTRACT, IN TORT (INCLUDING NEGLIGENCE AND
STRICT LIABILITY) OR OTHERWISE TO THE OTHER PARTY (OR ANY OF ITS INDEMNITEES) FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, OR PUNITIVE
DAMAGES (INCLUDING LOSS OF PROFITS) AS A RESULT OF ANY BREACH, PERFORMANCE, OR NON-PERFORMANCE BY A PARTY UNDER THIS AGREEMENT,
EXCEPT AS MAY BE PAYABLE TO A CLAIMANT IN A THIRD-PARTY CLAIM. IN NO EVENT SHALL MEREDITH OR ANY MEMBER OF THE MEREDITH GROUP
BE LIABLE, WHETHER IN CONTRACT, IN TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR OTHERWISE TO SERVICE RECIPIENT OR ANY OF
ITS INDEMNITEES OR BE DEEMED IN BREACH OF THIS AGREEMENT FOR ANY SERVICES PROVIDED BY A THIRD-PARTY SERVICE PROVIDER.

 

    	14

     

    

 

(b)
EXCEPT IN THE CASE OF FRAUD, GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, A PARTY’S BREACH OF SUCH PARTY’S CONFIDENTIALITY
OBLIGATIONS (AS SPECIFIED IN SECTION 8.05), AND WITH RESPECT TO EACH PARTY’S INDEMNIFICATION OBLIGATIONS UNDER THIS
AGREEMENT, EACH GROUP’S TOTAL LIABILITY TO THE OTHER GROUP ARISING OUT OF, RELATED TO OR IN CONNECTION WITH THE SERVICES
OR THIS AGREEMENT FOR ANY AND ALL LOSSES OR CLAIMS SHALL NOT EXCEED IN THE AGGREGATE AN AMOUNT EQUAL TO THE TOTAL AMOUNT PAID
OR PAYABLE FOR SERVICES PROVIDED UNDER THIS AGREEMENT.

 

(c)
IN ADDITION, AND NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, MEREDITH SHALL NOT BE LIABLE FOR LOSSES RESULTING FROM CLAIMS
THAT ACTS OR OMISSIONS OF MEREDITH VIOLATED PRIVACY, CONSUMER PROTECTION OR OTHER APPLICABLE LAWS IN CONNECTION WITH THE PROVISION
OF SERVICES TO SERVICE RECIPIENT (I) TO THE EXTENT MEREDITH PERFORMED THE SERVICES IN ACCORDANCE WITH THIS AGREEMENT, OR IN ACCORDANCE
WITH THE DIRECTIONS, INSTRUCTIONS, APPROVALS, AUTHORIZATIONS OR DECISIONS OF SERVICE RECIPIENT OR SERVICE RECIPIENT’S SERVICE
MANAGER, (II) TO THE EXTENT MEREDITH HAS USED COMMERCIALLY REASONABLE EFFORTS TO COMPLY WITH APPLICABLE PRIVACY, CONSUMER PROTECTION
OR OTHER APPLICABLE LAWS CONSISTENT WITH THE EFFORTS MEREDITH USES FOR ITS OWN BUSINESSES, OR (III) TO THE EXTENT SUCH LOSSES
RESULT FROM SERVICE RECIPIENT’S PRIVACY POLICY DEVIATING FROM MEREDITH’S PRIVACY POLICY.

 

(d)
Service Recipient shall procure and maintain, at its sole cost and expense during the Term and for a period of three (3) years
thereafter (“Insurance Period”), (i) comprehensive general liability insurance (including, without limitation,
product liability insurance, inventory insurance, worker’s compensation insurance, operations liability insurance, advertising
injury insurance, and intellectual property insurance) and (ii) cybersecurity insurance, to defend and protect the Parties against
claims arising out of or in connection with the Businesses. Insurance must be obtained from a company reasonably acceptable to
Meredith, in an amount not less than One Million United States Dollars ($1 million USD) and Two Million United States Dollars
($2 million USD) in the aggregate for comprehensive general liability insurance, and in an amount not less than Five Million United
States Dollars ($5 million USD) and Ten Million United States Dollars ($10 million USD) in the aggregate, for cybersecurity insurance.
Within five (5) business days of the Effective Date, Service Recipient shall submit to Meredith a certificate of insurance naming
each of Meredith and TI Gotham, Inc. as additional insureds (“COI”), which COI, or a renewal or replacement
thereof, shall remain in force at all times during the Insurance Period, and shall require the insurer to provide at least thirty
(30) days’ prior written notice to Meredith, and all additional insureds, of any termination, cancellation or modification
thereof. In the event of any termination or cancellation, Service Recipient shall, prior to the effective date thereof, secure
a replacement policy from a company reasonable acceptable to Meredith, and deliver a replacement COI to Meredith. In the event
that any insurance policy required hereunder includes or permits a waiver of subrogation, such waiver shall apply to Meredith.
In the event that any insurance policy required hereunder provides for a waiver of subrogation in the event that such waiver is
required by a third-party agreement, then this Agreement shall be deemed to require such waiver. Service Recipient shall notify
Meredith of all claims regarding the Business under any of the foregoing policies of insurance promptly upon the filing thereof.
Service Recipient’s indemnification obligations hereunder shall not be limited by the amount of insurance requirements hereunder.

 

    	15

     

    

 

Section
5.06. Survival. The provisions of this ARTICLE V shall survive indefinitely, notwithstanding any expiration
or termination of all or any portion of this Agreement.

 

ARTICLE
VI.

 

OTHER
COVENANTS

 

Section
6.01. Compliance with Law. Notwithstanding anything to the contrary set forth in this Agreement, Meredith and Service
Recipient each agree that they will abide by all Laws applicable to this Agreement and their activities and performance hereunder.
With respect to privacy, consumer protection and other similar Laws, the Parties will use commercially reasonable efforts to comply
with such Laws consistent with customary industry practice, and in no event less than a Party’s compliance efforts with
respect to its own businesses. The Parties will cooperate in good faith to mitigate any legal compliance matters that could result
from differences in their respective privacy policies. If a Party becomes aware that it cannot satisfy any covenant, condition
or obligation of this Agreement as a result of any such Law, it shall promptly notify the other Party and the Parties shall use
all reasonable efforts to remediate the situation.

 

Section
6.02. Third-Party Costs. Commencing January 1, 2019, Service Recipient shall deposit or cause to be deposited all
amounts due to third parties for Services provided hereunder for the benefit of Service Recipient Group for each monthly billing
period, within thirty (30) days from delivery by Meredith of a statement that contains a reasonable level of detail of the Services
provided and the charges therefor (a “Statement”). Such Statement may be delivered by Meredith to Service Recipient
Group no more than thirty (30) days prior to the commencement of the applicable monthly billing period. Such amounts shall be
deposited by Service Recipient into the bank account of the Meredith Group set forth on Schedule C attached hereto, for
the payment to such third party by the Meredith Group. Any amounts so deposited shall be utilized solely for purposes of settling
any such payables for which the amounts were deposited on behalf of Service Recipient Group.

 

For
the avoidance of doubt, no member of the Meredith Group shall be liable to Service Recipient, any Service Recipient Group member
or any third party for (x) any breach of this Section 6.02 by Service Recipient or any Service Recipient Group member (including,
without limitation, if the Meredith Group does not pay a third party or account payable as a result of such breach) or (y) carrying
out the instructions of Service Recipient or any Service Recipient Group member, and each Service Recipient Group member and Service
Recipient, jointly and severally, shall indemnify and defend each Meredith Group member against, and shall hold them harmless
from, any and all Losses resulting from, arising out of, or incurred by any of them in connection with, or otherwise with respect
to the foregoing.

 

    	16

     

    

 

ARTICLE
VII.

 

BREACH,
NOTICE, AND CURE

 

Section
7.01. Breach, Notice, and Cure. No breach of this Agreement by a Party shall be deemed to have occurred unless a
non-breaching Party serves written notice on the breaching Party specifying the nature thereof and the breaching Party fails to
cure such breach, if any, (a) in the case of a breach of a Party’s payment obligations, within 10 Business Days after receipt
of such notice, and (b) in the case of a breach of a Party’s non-payment obligations, within 30 days after receipt of such
notice.

 

ARTICLE
VIII.

 

MISCELLANEOUS

 

Section
8.01. Notices. All notices, requests, claims, demands, and other communications hereunder shall be in writing and
shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by E-mail (to the E-mail address
provided by the relevant party, provided that any notice delivered by E-mail must be confirmed by the recipient to be received
under this Section 8.01), by overnight courier, or by registered or certified mail (postage prepaid, return receipt requested)
to the other Parties as follows:

 

To
any member of the Meredith Group:

 

Meredith
Corporation

1716
Locust Street

Des
Moines, Iowa 50309-3023

Attention:
John S. Zieser, General Counsel

 

with
a copy (which shall not constitute notice) to:

 

Cooley
LLP

1299
Pennsylvania Avenue, NW, Suite 700

Washington,
DC 20004-2400

Attention:
J. Kevin Mills and Aaron Binstock

Email:
kmills@cooley.com and abinstock@cooley.com

 

To
any member of Service Recipient Group:

 

TheMaven,
Inc.

1500
Fourth Avenue, Suite 200

Seattle,
WA 98101

Attention:
Legal Department

Email:
legal@maven.io

 

with
a copy (which shall not constitute notice) to:

 

Hand
Baldachin & Associates LLP

8
West 40th Street, 12th Floor

New
York, NY 10018

Attention:
Alan Baldachin

E-mail:
abaldachin@hballp.com

 

or
to such other address as the Party to whom notice is given may have previously furnished to the others in writing in the manner
set forth above.

 

    	17

     

    

 

Section
8.02. Amendment; Waivers. This Agreement may be amended or modified only by a written agreement executed and
delivered by each of the Parties. This Agreement may not be modified or amended except as provided in the immediately
preceding sentence and any purported amendment by any Party or Parties effected in a manner which does not comply with this Section
8.02 shall be null and void. By an instrument in writing, each of Meredith, on the one hand, and Service Recipient, on
the other hand, may waive compliance by the other with any term or provision of this Agreement that the other was or is
obligated to comply with or perform. Each of the Parties shall execute and deliver such other and further instruments and
documents consistent herewith and take such further actions as are or may become reasonably necessary or convenient to
effectuate and carry out the rights, obligations, intents or purposes of this Agreement.

 

Section
8.03. Force Majeure. In case performance of any terms or provisions hereof shall be delayed or prevented, in whole
or in part, because of or related to compliance with any applicable Law, or because of riot, war, public disturbance, strike,
labor dispute, fire, explosion, storm, flood, act of God, denial of service attacks or other “hacker” activity, or
act of terrorism that is not within the reasonable control of Meredith, and which by the exercise of reasonable diligence Meredith
is unable to prevent, or for any other reason which is not within the reasonable control of Meredith (each, a “Force
Majeure Event”), then, upon prompt written notice stating the date and extent of such interference and the cause thereof
by Meredith to Service Recipient, Meredith shall be excused from its obligations hereunder during the period such Force Majeure
Event or its effects continue, and no liability shall attach against either Meredith or Service Recipient on account thereof;
provided, however, that (i) Meredith uses commercially reasonable efforts to restore the affected Services as soon
as practicable, and promptly resumes the required performance upon the cessation of the Force Majeure Event or its effects, and
(ii) Meredith shall allocate to the Services any delay or suspension of performance of any Service in a manner no less favorable
than the manner by which it allocates such delay or suspension of performance of Services to itself or any of its Affiliates’
business units or locations with respect to the provision of comparable services. A Force Majeure Event shall not relieve Service
Recipient from liability or otherwise affect the obligation of Service Recipient to pay amounts due under this Agreement in a
timely manner for Services rendered prior to the occurrence of such Force Majeure Event or which are otherwise incurred prior
to the occurrence of that Force Majeure Event.

 

Section
8.04. Relationship of Parties. Nothing in this Agreement shall be deemed or construed by the Parties or any third
party as creating a relationship of principal and agent, partnership, or joint venture between the Parties, or with any individual
providing Services, it being understood and agreed that no provision contained herein, and no act of any Party or members of their
respective Groups, shall be deemed to create any relationship between the Parties or members of their respective Groups other
than the relationship set forth herein. Each Party and each Meredith Group member shall act under this Agreement solely as an
independent contractor and not as an agent or employee of any other Party or any of such Party’s subsidiaries or other affiliates.

 

    	18

     

    

 

Section
8.05. Confidentiality.

 

(a)
Each Party undertakes to treat as confidential and shall not, except as permitted in this Section 8.05, disclose or make
available to any third party (other than Sub-Contractors) all information in any medium or format (whether marked “confidential”
or not) which that Party (the “Receiving Party”) receives during the Term of this Agreement and for the purposes
of this Agreement from any other Party (the “Disclosing Party”) either directly or from any person, firm, Sub-Contractor,
company, or organization associated with the Disclosing Party, which concerns the business or operations of the Disclosing Party
or its Group and is owned by the Disclosing Party (the “Confidential Information”). The Receiving Party shall,
with respect to any Confidential Information received hereunder, use the same standard of care as it applies to its own Confidential
Information of similar character, provided that such standard is at least reasonable.

 

(b)
The Receiving Party may use the Confidential Information of the Disclosing Party as permitted under this Agreement and the Receiving
Party may provide its Affiliates, and its and their directors, officers, employees, agents, Sub-Contractors, auditors, and representatives
with access to such Confidential Information on a strict “need-to-know” basis only. Each Party shall ensure that its
Affiliates, and its and their directors, officers, employees, agents, Sub-Contractors, auditors, and representatives comply with
such Party’s obligations of confidence. Each separate recipient shall be bound to hold all such Confidential Information
in confidence to the standard required under this Agreement. Where such recipient is not an employee or director of the relevant
Receiving Party or one of its Affiliates, the Receiving Party shall provide the Confidential Information to such permitted persons
subject to reasonable and appropriate obligations of confidence. Each Party shall be responsible for any breach of this Section
8.05 by its Affiliates, and its and their directors, officers, employees, agents, Sub-Contractors, auditors, and representatives.

 

(c)
The provisions of this Section 8.05 shall not apply to any information which enters the public domain other than as a result
of a breach of this Section 8.05, is received from a third party which is under no confidentiality obligations with respect
to such information or is independently developed by one Party without the use of another Party’s Confidential Information.
The Receiving Party may disclose the Confidential Information of the Disclosing Party (i) where required to do so by applicable
Law or by any competent Governmental Entity (including any United States or foreign securities exchange) or (ii) in the case of
a Receiving Party that is an Affiliate of a public company, in accordance with the public filing practices of such public company.
In these circumstances, the Receiving Party shall give the Disclosing Party prompt advance written notice of the disclosures (where
lawful and practical to do so) so that the Disclosing Party has sufficient opportunity (where reasonably possible) to prevent
or control the manner of disclosure by appropriate legal means.

 

(d)
Except to the extent required under this Agreement or required for purposes of complying with applicable Law, all Confidential
Information, in written or other tangible media, shall be returned to the Disclosing Party or destroyed by the Receiving Party
(such destruction to be certified in writing to the Disclosing Party by an authorized officer of such Receiving Party) within
thirty (30) days following the expiration, termination, or cancellation of this Agreement and all electronic Confidential Information
shall be deleted from the Receiving Party’s systems.

 

    	19

     

    

 

(e)
The provisions of this Section 8.05 shall survive indefinitely, notwithstanding any termination of all or any portion of
this Agreement.

 

Section
8.06. Entire Agreement. This Agreement, the Purchase Agreement, the Ancillary Documents to which the Parties are
party thereto, along with the Annexes, Schedules, and Exhibits hereto and thereto, constitute the entire agreement among the Parties
with respect to the subject matter hereof and supersede all other prior agreements and understandings, both written and oral,
among the Parties with respect to subject matter hereof.

 

Section
8.07. Assignment; Third-Party Beneficiaries. This Agreement and the rights and obligations hereunder shall not
be assignable, delegable, or transferable, in whole or in part, whether by operation of law or otherwise, without the prior
written consent of the other Party, which consent shall not be unreasonably withheld; provided, however, that Service
Recipient may, without the prior written consent of Meredith, assign this Agreement to an Affiliate of Service Recipient that
holds assets of the Business (or is the direct parent of an entity that holds assets of the Business) and is receiving the
Services. Meredith may delegate any or all of its obligations to perform Services under this Agreement to any one or more of
the members of the Meredith Group or Sub-Contractors in accordance with Section 2.04(b); provided, further,
that Meredith shall remain primarily liable hereunder notwithstanding any such delegation or assignment. Any attempted
assignment in violation of this Section 8.07 shall be null and void. Subject to the preceding sentences, this
Agreement shall be binding upon, insure to the benefit of, and be enforceable by, the Parties and their respective successors
and permitted assigns. Except as otherwise set forth in this Agreement, this Agreement is not intended to nor will confer
upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

Section
8.08. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware
or any other jurisdiction) that would cause the application or the law of any jurisdiction other than the State of Delaware.

 

Section
8.09. Counterparts; Facsimile Signatures. This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same agreement. Delivery of an executed counterpart
of a signature page to this Agreement by facsimile or scanned pages shall be as effective as delivery of a manually executed counterpart
to this Agreement.

 

Section
8.10. Severability. If any term or other provision of this Agreement is invalid, illegal or unenforceable, all other
provisions of this Agreement shall remain in full force and effect so long as the economic or legal substance of the transactions
contemplated hereby is not affected in any manner materially adverse to any party.

 

    	20

     

    

 

Section
8.11. Construction; Interpretation. The term “this Agreement” means this Agreement together with the
schedules, exhibits, and annexes hereto, as the same may from time to time be amended, modified, supplemented or restated in accordance
with the terms hereof. References to any “Schedule” to this Agreement includes any updates or other amendments made
to such Schedule in accordance with this Agreement. The headings contained in this Agreement are inserted for convenience only
and shall not affect in any way the meaning or interpretation of this Agreement. No Party, nor its respective counsel, shall be
deemed the drafter of this Agreement for purposes of construing the provisions hereof, and all provisions of this Agreement shall
be construed according to their fair meaning and not strictly for or against any Party. Unless otherwise indicated to the contrary
herein by the context or use thereof: (i) the words, “herein,” “hereto,” “hereof” and words
of similar import refer to this Agreement as a whole, including the schedules, exhibits, and annexes, and not to any particular
section, subsection, paragraph, subparagraph or clause contained in this Agreement; (ii) masculine gender shall also include the
feminine and neutral genders, and vice versa; (iii) words importing the singular shall also include the plural, and vice versa;
(iv) the words “include,” “includes” or “including” shall be deemed to be followed by the
words “without limitation”; and (v) references to “$” or “dollar” or “US$” shall
be references to United States dollars.

 

Section
8.12. Exhibits, Schedules, Annexes. All exhibits, schedules, and annexes, and all documents expressly incorporated
into this Agreement, are hereby incorporated into this Agreement and are hereby made a part hereof as if set out in full in this
Agreement.

 

Section
8.13. Dispute Resolution. Upon the occurrence of any dispute or disagreement between the Parties hereto arising
out of or in connection with any term or provision of this Agreement, the subject matter hereof, or the interpretation or enforcement
hereof (in each case, a “Dispute”), the Parties shall engage in informal, good faith discussions and attempt
to resolve the Dispute during a period of ten (10) Business Days after a Party notifies the other of such Dispute in writing.
If the Parties are unable to resolve the Dispute during such period, then the provisions of Section 8.15 shall apply.

 

Section
8.14. Waiver of Jury Trial. EACH PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL
BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (I) ARISING UNDER THIS AGREEMENT OR (II) IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN
EACH CASE, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. EACH PARTY HEREBY FURTHER
AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND
THAT THE PARTIES MAY FILE A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES TO THE WAIVER
OF THEIR RIGHT TO TRIAL BY JURY.

 

    	21

     

    

 

Section
8.15. Jurisdiction and Venue. Each of the Parties (i) submits to the exclusive jurisdiction of the Court of Chancery
of the State of Delaware and any federal court located in the State of Delaware, or, if neither of such courts has jurisdiction,
any state court of the State of Delaware having jurisdiction, in any action or proceeding arising out of or relating to this Agreement,
(ii) agrees that all claims in respect of such action or proceeding may be heard and determined in any such court and (iii) agrees
not to bring any action or proceeding arising out of or relating to this Agreement in any other court. Each of the Parties waives
any defense of inconvenient forum to the maintenance of any action or proceeding so brought and waives any bond, surety, or other
security that might be required of any other Party with respect thereto. Each Party agrees that service of summons and complaint
or any other process that might be served in any action or proceeding may be made on such Party by sending or delivering a copy
of the process to the Party to be served at the address of the Party and in the manner provided for the giving of notices in Section
8.01. Nothing in this Section 8.15, however, shall affect the right of any Party to serve legal process in any other
manner permitted by Law. Each Party agrees that a final, non- appealable judgment in any action or proceeding so brought shall
be conclusive and may be enforced by suit on the judgment or in any other manner provided by Law.

 

Section
8.16. Remedies. The Parties agree that irreparable damage for which monetary damages, even if available, would not
be an adequate remedy, would occur in the event that the Parties do not perform their respective obligations under the provisions
of this Agreement in accordance with their specific terms or otherwise breach such provisions. It is accordingly agreed that the
Parties shall be entitled to an injunction or injunctions, specific performance and other equitable relief to prevent breaches
of this Agreement and to enforce specifically the terms and provisions of this Agreement. Each of the Parties agrees that it will
not oppose the granting of an injunction, specific performance and other equitable relief when expressly available pursuant to
the terms of this Agreement on the basis that the other Parties have an adequate remedy at law or an award of specific performance
is not an appropriate remedy for any reason at law or equity.

 

[Remainder
of page intentionally left blank.]

 

    	22Exhibit
10.109

 

TRANSITION
SERVICES AGREEMENT — THEMAVEN

 

This
TRANSITION SERVICES AGREEMENT (this “Agreement”), dated as of October 3, 2019 (the “Effective Date”),
is made by and between Meredith Corporation, an Iowa corporation (“Seller”), and theMaven, Inc., a Delaware
corporation (“Service Recipient”). Seller and Service Recipient shall be referred to herein from time to time
as the “Parties.”

 

WHEREAS,
pursuant to that certain Asset Purchase Agreement (the “Purchase Agreement”), dated as of May 24, 2019, by
and among Seller, TI Gotham Inc., and AGB-SI LLC (“Buyer”), Buyer agreed to purchase certain specified assets
and assume certain specified liabilities of the “Sports Illustrated” Business (as defined therein) as set forth therein;

 

WHEREAS,
Buyer licensed to Service Recipient the right to publish the print and digital editions of the Magazines (as defined below);

 

WHEREAS,
Buyer has requested that Seller enter into this Agreement with Service Recipient to facilitate the transfer of certain assets
pursuant to the Purchase Agreement;

 

WHEREAS,
Seller will provide to Service Recipient certain services, as more particularly described in this Agreement, for a limited period
of time following the Second Closing (defined below); and

 

WHEREAS,
each of Seller and Service Recipient desire to reflect the terms of their agreement with respect to such services herein.

 

NOW,
THEREFORE, in consideration of the premises and mutual promises contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows:

 

ARTICLE
I. 

 

CERTAIN DEFINITIONS

 

Section
1.01. Definitions. As used in this Agreement, the following terms have the respective meanings set forth below.

 

“Affiliate”
means, with respect to any Person, any other Person who directly or indirectly, through one or more intermediaries, controls,
is controlled by, or is under common control with, such Person. The term “control” means the possession, directly
or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership
of voting securities, by contract, or otherwise, and the terms “controlled” and “controlling” have meanings
correlative thereto. Notwithstanding anything to the contrary, no Person shall be deemed an “Affiliate” of Service
Recipient by virtue of his, her or its direct or indirect ownership interest in Service Recipient.

 

“Agreement”
has the meaning set forth in the introductory paragraph to this Agreement.

 

“Ancillary
Documents” has the meaning ascribed to it in the Purchase Agreement.

 

    	 	1	 

    	 

    

 

“Applicable
Termination Date” means, with respect to each Service, Service Category or Space Sharing, the termination date specified
with respect to such Service, Service Category or Space Sharing, as applicable, in Schedule A or Schedule B.

 

“Business”
has the meaning set forth in the Purchase Agreement.

 

“Business
Day” means a day, other than a Saturday, Sunday or federal holiday, on which commercial banks in New York City are open
for the general transaction of business.

 

“Confidential
Information” has the meaning set forth in Section 8.07(a).

 

“Consent” has the meaning set forth in
Section 2.01(k).

 

“Costs”
means, with respect to each Service or Service Category, the Costs specified with respect to such Service or Service Category,
as applicable, in Schedule C, to be paid by Service Recipient in respect of such Service or Service Category to Seller
of such Service or Service Category in accordance with Section 3.01.

 

“Disclosing
Party” has the meaning set forth in Section 8.07(a).

 

“Effective
Date” has the meaning set forth in the introductory paragraph to this Agreement.

 

“Force Majeure Event”
has the meaning set forth in Section 8.04.

 

“Governmental
Entity” means any United States or foreign (i) federal, state, local, municipal or other government, (ii) governmental
or quasi-governmental entity of any nature (including any governmental agency, branch, department, official, or entity and any
court or other tribunal) or (iii) body exercising or entitled to exercise any administrative, executive, judicial, legislative,
police, regulatory, or taxing authority or power of any nature, including any arbitral tribunal.

 

“Group”
means the Seller Group or Service Recipient Group, as applicable.

 

“Indemnified
Party” has the meaning set forth Section 5.01.

 

“Indemnifying
Party” has the meaning set forth in Section 5.01.

 

“Indemnitee”
means any person entitled to indemnification or reimbursement pursuant to ARTICLE V.

 

“Intellectual
Property Rights” has the meaning ascribed to it in the Purchase Agreement.

 

“Landlord” has the meaning
set forth in the applicable Real Property Lease.

 

“Law”
means any United States or foreign federal, national, state, municipal or local law (including common law), statute, ordinance,
regulation, order, executive order, decree, rule, constitution, or treaty, or similar requirement of any Governmental Entity.

 

“Leased
Real Property” means all leasehold or subleasehold estates and other rights to use or occupy any land, buildings, structures,
improvements, fixtures or other interest in real property held by Seller and used in the conduct of the Business as currently
conducted and identified on Schedule B.

 

“Loss”
or “Losses” means damages, losses, liabilities, penalties, fines, charges, obligations, costs or settlement
payments, claims of any kind, interest or expenses (including reasonable attorneys’ fees and expenses).

 

    	 	2	 

    	 

    

 

“Magazine”
means the magazine entitled SPORTS ILLUSTRATED and SPORTS ILLUSTRATED FOR KIDS.

 

“Parties”
has the meaning set forth in the introductory paragraph to this Agreement.

 

“Person”
means an individual, partnership, corporation, limited liability company, joint stock company, unincorporated organization or
association, joint venture, association, or other similar entity.

 

“Premises”
has the meaning set forth in the applicable Real Property Lease.

 

“Purchase Agreement” has the meaning set forth
in the recitals to this Agreement.

 

“Real
Property Lease” means all leases, subleases, licenses, concessions and other written agreements pursuant to which any
member of Seller Group holds any Leased Real Property.

 

“Receiving
Party” has the meaning set forth in Section 8.07(a).

 

“Second Closing” has the meaning set
forth in the Purchase Agreement.

 

“Seller”
has the meaning set forth in the introductory paragraph to this Agreement.

 

“Seller
Group” means Seller and its subsidiaries and the Affiliates of any thereof.

 

“Service
Categories” means the categories of Services identified in Schedule A.

 

“Service Manager” has
the meaning set forth in Section 2.01(e).

 

“Service
Recipient” has the meaning set forth in the introductory paragraph to this Agreement.

 

“Service
Recipient Group” means Service Recipient and its subsidiaries and the Affiliates of any thereof.

 

“Services”
means the individual services included within the various Service Categories identified in Schedule A.

 

“Space
Sharing” has the meaning set forth in Section 2.01(b).

 

“Standard
of Care” has the meaning set forth in Section 2.01(c).

 

“Sub-Contractor”
has the meaning set forth in Section 2.01(g).

 

“Transition
Services” has the meaning set forth in Section 4.02(d).

 

ARTICLE
II.

 

SERVICES
AND REAL PROPERTY LEASES

 

Section
2.01. Provision of Services & Space Sharing.

 

	 	(a)	On
                                         the terms and subject to the conditions set forth herein, commencing immediately after
                                         the Second Closing, Seller shall provide, and shall cause the applicable members of the
                                         Seller Group and other parties providing services to Seller, to provide to Service Recipient
                                         the Services set forth in Schedule A. Service Recipient may, at its option, from
                                         time to time to the extent there is no additional cost to Seller or its Affiliates, delegate
                                         any or all of its rights to receive one or more of the Services under this Agreement
                                         to any member of Service Recipient Group. Service Recipient shall be responsible for
                                         the acts or omissions of Service Recipient Group.

        

 

    	 	3	 

    	 

    

 

	 	(b)	On
    the terms and subject to the conditions set forth in the applicable Real Property Leases identified on Schedule B and
    this Agreement, Service Recipient shall have the right to continue to operate as required for the operation of the Business
    as conducted at the Second Closing at the applicable portion of the Premises occupied solely by the Business at the Second
    Closing (the “Space Sharing”). Subject to the applicable Landlord’s rights in accordance with the
    terms of the applicable Real Property Lease, in addition to use and occupancy of the applicable Premises, included in the
    right to Space Sharing, Service Recipient shall have the right to use the common areas of the applicable Premises and any
    additional areas identified on Schedule B. Service Recipient shall use the applicable Premises only for the permitted
    use as such term is defined in the applicable Real Property Lease. Service Recipient must timely take all actions to comply
    with the terms and conditions of the Real Property Leases.
	 	 	 
	 	(c)	Except
    as otherwise set forth in this Agreement, Seller covenants and agrees that the manner, nature, quality and standard of care
    (the “Standard of Care”) applicable to the provision or procurement by Seller of the Services hereunder
    shall be substantially the same as that of similar services which Seller provided or procured for itself and its Affiliates
    prior to the Effective Date. The Parties acknowledge that the manner and scope of the Services requested from time to time
    by Service Recipient may impact how the Services are performed by Seller. Seller shall allocate to the Services any delay
    or suspension of performance of any Service in a manner no less favorable than the manner by which it allocates such delay
    or suspension of performance of Services to itself or any of its Affiliates’ business units or locations with respect
    to the provision of comparable services. All current policies and internal reporting procedures of Seller and its Affiliates
    with respect to the Standard of Care shall remain the same throughout the term of this Agreement. If Seller fails to abide
    by the Standard of Care in the performance of any applicable Service, upon receiving the written request of Service Recipient,
    Seller shall promptly correct the error, or re-perform or perform the Service, as requested by Service Recipient.
	 	 	 
	 	(d)	Commencing
    immediately after the Second Closing, Service Recipient shall, and shall cause the applicable members of Service Recipient
    Group to pay, perform, discharge, and satisfy, as and when due, its obligations as Service Recipient under this Agreement,
    in each case in accordance with the terms of this Agreement. Service Recipient shall provide the services set forth on Schedule
    E.

 

    	 	4	 

    	 

    

 

	 	(e)	Service
    Recipient and Seller shall cooperate in good faith with each other in connection with the performance of the Services hereunder.
    Seller and Service Recipient agree to appoint one of its respective employees (each such employee, a “Service Manager”)
    who will have overall responsibility for managing and coordinating the delivery and receipt of Services. The Service Managers
    will consult and coordinate with each other regarding the provision of Services. Each Service Manager shall notify the other
    Party’s Service Manager of any failures, incidents or issues that may arise that present a risk to the timely delivery
    of the Services generally to the extent such Service Manager is aware of a potential failure, incident or issue. Seller shall,
    as soon as reasonably practicable: (i) investigate the underlying cause(s) of the issue; (ii) use commercially reasonable
    efforts to correct the failure and promptly resume performance of the Services in accordance with this Agreement; and (iii)
    advise Service Recipient of the status of the issue and the remedial efforts being undertaken with respect thereto. Service
    Recipient shall make available employees and other resources reasonably requested by Seller in order to facilitate provision
    of the Services. Service Recipient will, or will ensure that its Service Manager will, as applicable, perform or respond to,
    within a reasonable time, any requests by Seller or its Service Manager for directions, instructions, approvals, authorizations,
    decisions, or other information reasonably necessary for Seller to perform the Services. If Seller fails to provide any Service
    when and as required by this Agreement as a result of a failure of Service Recipient or its Service Manager to provide timely
    direction, instruction, approval, authorization, decision, or other information following a written request by Seller, Seller
    shall not be in breach or default of this Agreement with respect to such failure. Service Recipient and Seller shall have
    the right, upon prior written notice to the other, to replace its respective Service Managers from time to time with a substitute
    manager.
	 	 	 
	 	(f)	Seller
    shall determine in its sole discretion the personnel who shall perform the Services to be provided by it; provided, that such
    persons shall have the requisite experience and qualifications to perform the applicable Services. Seller shall pay for all
    personnel and other related expenses, including salary or wages and benefits of its employees performing the Services, as
    required by this Agreement. No Person providing Services to Service Recipient shall be deemed to be, or have any rights as,
    an employee or agent of such Service Recipient. Seller shall have no authority to bind Service Recipient by contract or otherwise.
	 	 	 
	 	(g)	Seller
    may, at its option, from time to time and at no additional cost to Service Recipient or its Affiliates, delegate any or all
    of its obligations to perform Services under this Agreement to any one or more of its Affiliates; provided that such Affiliate(s)
    are capable of performing such Services without a material diminution in quality. In addition, Seller may, as it deems necessary
    or desirable, engage the services of other professionals, consultants or other third parties (each, a “Sub-Contractor”),
    in connection with the performance of the Services; provided, that Seller shall remain responsible for the Sub- Contractor’s
    performance of the applicable Services in accordance with the terms of this Agreement, and Service Recipient shall not be
    liable for any Costs with respect to such Sub-Contractor in excess of the Costs corresponding to such Services prior to the
    engagement of such Sub-Contractor.
	 	 	 
	 	(h)	The
    Parties acknowledge that Seller may make changes from time to time in the manner of performing Services if Seller is making
    similar changes in performing the same or substantially similar Services for itself or other members of the Seller Group;
    provided, that (i) such changes are not reasonably expected to materially affect the Services in an adverse manner
    and (ii) Seller notifies Service Recipient in reasonable detail of any material change once the decision to make the change
    has been made. The foregoing shall include making changes to specific vendors, licensors, software, platforms and Third-Party
    Service Providers.

 

    	 	5	 

    	 

    

 

	 	(i)	Service
    Recipient and Seller hereby acknowledge and agree that certain Services will be provided to Service Recipient by third parties
    (each, a “Third-Party Service Provider”). The agreements with the Third-Party Service Providers are existing
    agreements entered into by Seller on a company-wide basis or for multiple Seller magazines or for the Business, and not specifically
    for Service Recipient. Such Third-Party Service Providers may be set forth on Schedule A in connection with the related
    Services or may otherwise be provided as a necessary or inherent part of the Services, whether or not specifically itemized
    on Schedule A. Service Recipient hereby agrees to comply with Seller’s reasonable instructions provided in writing
    with respect to compliance with the terms of such agreements with the Third-Party Service Providers. Seller will work together
    with Service Recipient in good faith to mitigate any problems that may arise with respect to the provision of Services by
    Third-Party Service Providers, including holding Third-Party Service Providers to terms of the applicable agreements to same
    extent Seller does on behalf of its owned and operated publications.
	 	 	 
	 	(j)	Service
    Recipient and Seller hereby acknowledge and agree that certain third party Intellectual Property Rights will be licensed,
    sublicensed or otherwise provided by Seller for the benefit of Service Recipient to the extent that such licenses or sublicenses
    are necessary in connection with and ancillary to the provision of the Services, and that the term for which such licenses
    or sublicenses will be provided to Service Recipient will be the same as the term for which Service Recipient continues to
    receive the relevant Services. Such licenses or sublicenses may be set forth on Schedule A in connection with the related
    Services or may otherwise be provided as a necessary or inherent part of the Services, and, whether or not specifically itemized
    on Schedule A, may include licenses to Intellectual Property Rights, including software, or other systems. Service
    Recipient hereby agrees to comply with Seller’s reasonable instructions provided in writing with respect to compliance
    with the terms of such licenses and sublicenses.
	 	 	 
	 	(k)	Nothing
    in this Agreement shall be deemed to require the provision of any Service or Space Sharing by Seller to Service Recipient
    if the provision of such Service or Space Sharing requires the consent, approval, or authorization of any Person (including
    any Governmental Entity), whether under applicable Law, by the terms of any contract to which Seller or any other Seller Group
    member is a party, or otherwise (each, a “Consent”), unless and until such Consent has been obtained.

 

(i)
Seller shall use commercially reasonable efforts to obtain as reasonably promptly as possible any Consent of any Person that Seller
determines in its reasonable discretion is necessary for the performance of Seller’s obligations pursuant to this Agreement.
Any fees, expenses or other reasonable out of pocket costs incurred in connection with obtaining any such Consents shall be paid
by Service Recipient, and Service Recipient shall use commercially reasonable efforts to provide assistance as necessary in obtaining
such Consents.

 

    	 	6	 

    	 

    

 

(ii)
In the event that the Consent of any Person, if required in order for Seller to provide Services or Space Sharing, is not obtained
reasonably promptly after the Second Closing, Seller shall notify Service Recipient and the Parties shall cooperate in devising
an alternative manner (including Service Recipient obtaining a contract with such Person in its own name) for the provision of
the Services or Space Sharing affected by such failure to obtain such Consent and the Costs associated therewith, such alternative
manner. If Service Recipient approves such an alternative plan (including Costs to be reasonably satisfactory to Service Recipient),
Seller shall provide the Services or Space Sharing in such alternative manner and Service Recipient shall pay for such Services
or Space Sharing based on the alternative Costs. If Service Recipient does not approve such an alternative plan or no alternative
plan is available, the affected Service shall be removed from this Agreement and the related Costs shall be reduced to reflect
the removal of such Service or Space Sharing.

 

(iii)
The Parties agree to discuss in good faith the transition of certain agreements with Third-Party Service Providers or licensors
prior to the expiration of this Agreement. If Service Recipient seeks to enter into its own agreements with Third-Party Service
Providers or licensors, Seller agrees to provide reasonably assist Service Recipient in obtaining its own agreements, including
providing Service Recipient with contact information and making introductions with such Third-Party Service Providers and licensors.

 

(iv)
The Services and Space Sharing shall not include, and no Seller Group member shall be obligated to provide, any service or facilities
the provision of which to Service Recipient following the Second Closing would constitute a violation of any applicable Law. In
addition, notwithstanding anything to the contrary herein, Seller will not be required to perform or to cause to be performed
any of the Services or provide the Space Sharing for the benefit of any third party or any other Person other than Service Recipient
or its Affiliates.

 

	 	(l)	Each
                                         Party hereby grants to the other Party a limited, non-exclusive, worldwide, royalty-
                                         free, nontransferable license, without the right to sublicense (except to an Affiliate
                                         or a Sub-Contractor who is providing Services on Seller’s behalf, solely to the
                                         extent necessary for such Affiliate or Sub-Contractor to provide the Services), for the
                                         term of the applicable Service, to use the Intellectual Property Rights owned by (or
                                         in the case of Service Recipient, owned by or licensed to) such Party solely to the extent
                                         necessary for the other Party to perform its obligations or receive the Services provided
                                         hereunder, as applicable. Seller acknowledges and agrees that it will acquire no right,
                                         title, or interest (including any license rights or rights of use) to any work product
                                         resulting from the provision of Services hereunder for Service Recipient’s exclusive
                                         use and such work product shall remain the exclusive property of Service Recipient. To
                                         the extent Seller has or obtains any rights in any such work product for Service Recipient’s
                                         exclusive use, Seller hereby assigns to Service Recipient all of its right, title and
                                         interest to such work product. Service Recipient acknowledges and agrees that it will
                                         acquire no right, title or interest (other than a non- exclusive, perpetual, royalty-free
                                         worldwide right of use) to any work product resulting from the provision of Services
                                         hereunder that is not, in the reasonable judgment of Seller, for Service Recipient’s
                                         exclusive use and such work product shall remain the exclusive property of Seller. To
                                         the extent Service Recipient has or obtains any rights in any such work product that
                                         is not for Service Recipient’s exclusive use, Service Recipient hereby assigns
                                         to Seller all of its right, title and interest to such work product. Seller hereby grants
                                         to Service Recipient a non-exclusive, perpetual, royalty-free, worldwide license for
                                         Service Recipient and any Service Recipient Group members (and any of their permitted
                                         successors or assigns) to use, modify, enhance, and reproduce pre-existing intellectual
                                         property or other work product owned by Seller, any member of Seller Group, or a Sub-Contractor
                                         that may be embedded within or necessary for use of any work product that is the subject
                                         of this Section 2.01(l). Except as expressly set forth in this Section 2.01(l),
                                         each Party retains all right, title and interest in and to its Intellectual Property
                                         Rights and no license or right, express or implied, is granted under this Agreement.

        

 

    	 	7	 

    	 

    

 

	 	(m)	Subject
    to Section 2.02 and Section 3.02, the Parties agree that the Services and Space Sharing set forth in Schedule
    A and Schedule B constitute all of the services and facilities to be provided by members of the Seller Group after
    the Second Closing, except for those services to be provided by the Seller Group pursuant to any applicable Ancillary Document
    (as defined in the Purchase Agreement).

 

Section
2.02. Service Amendments, Additions and Removals.

 

	 	(a)	Schedule
    A and Schedule B may be amended at any time by the written agreement of all Parties, including to add, amend or
    remove any additional Services, Service Categories or Space Sharing.
	 	 	 
	 	(b)	In
    the event that any service necessary to operate the Business as it has historically been operated prior to the Second Closing
    was not included in Schedule A, and Service Recipient reasonably requires any such service in order to operate the
    Business following the Second Closing, then, Service Recipient may notify Seller that it wishes to receive such service on
    a transitional basis. Promptly following Seller’s receipt of such notice, but subject to the receipt of any necessary
    Consents pursuant to Section 2.01(j), Seller and Service Recipient agree to amend this Agreement to add any such service
    to Schedule A, on terms reasonably satisfactory to each of Seller and Service Recipient or, if Seller and Service Recipient
    fail to reach agreement, on terms substantially similar to those on which such Service was provided to or by Seller prior
    to the Effective Time and at a cost in accordance with Section 3.01.

 

Section
2.03. Responsibilities of Seller. Seller shall:

 

(a)
maintain sufficient resources to perform its obligations hereunder (notwithstanding any provision herein to the contrary);

 

(b)
promptly notify Service Recipient of any staffing problems and any other material problems that have occurred or are reasonably
anticipated to occur that would reasonably be expected to materially adversely affect Seller’s ability to provide the Services
and the parties shall work together in good faith (including, on the part of Seller, using commercially reasonable efforts) to
remedy any such problems; and

 

(c)
promptly notify Service Recipient of any compliance problems in connection with the Services that have occurred or are reasonably
anticipated to occur, and of which Seller becomes aware.

 

    	 	8	 

    	 

    

 

Section
2.04. Responsibilities of Service Recipient. Service Recipient shall:

 

(a)
provide Seller with access to its facilities as is reasonably necessary for Seller to perform the Services it is obligated to
provide hereunder;

 

(b)
provide Seller with information and documentation reasonably necessary for Seller to perform the Services it is obligated to provide
hereunder; and

 

(c)
make available, as reasonably requested by Seller, reasonable access to resources (including, without limitation, personnel) and
provide decisions in a reasonably timely manner in order that Seller may perform its obligations hereunder. Seller shall incur
no liability of any kind caused by Service Recipient’s failure to provide reasonable access.

 

Section
2.05. Mutual Responsibilities. The Parties will use good faith efforts to cooperate with each other in all matters
relating to the provision and receipt of Services. Such cooperation shall include:

 

 (a)
exchanging information relevant to the provision of Services hereunder;

 

(b)
good faith efforts to mitigate problems with the work environment interfering with the Services; and

 

(c)
each Party requiring its personnel to obey the security regulations and other published policies of the other Party while on the
other Party’s premises.

 

Notwithstanding
any of the foregoing or anything else herein, neither Party will be obligated to perform any action it reasonably believes is
in violation of any Law.

 

ARTICLE
III.

 

COMPENSATION

 

Section
3.01. Compensation for Services. As compensation for each Service rendered pursuant to this Agreement and the Space
Sharing, Service Recipient shall be required to pay to Seller the Costs specified for such Service and the Space Sharing in Schedule
C. The Costs set forth on Schedule C (other than with respect to any Space Sharing) are the Costs of Seller personnel
to perform the Services. Such costs are on a “cost plus most-favored nation” basis as compared to the arrangements
entered into by Seller with the acquirors of the Time and Fortune titles for the same services, as previously provided
to Service Recipient (i.e., any element of profit or other comparable compensation to Seller for a Service Category will be no
less favorable to Service Recipient than the profit or other comparable compensation payable by the acquirors of the Time and
Fortune titles for the those services, subject to any related terms and conditions and other differences in the provision
of such services to the other acquirors). The Costs on Schedule C do not include costs allocable to Service Recipient for
Third-Party Service Providers and any licenses which are necessary for Seller to perform the Services. Seller shall allocate such
costs to Service Recipient in a manner consistent with how Seller allocates corresponding costs to the acquirors of the Time
and Fortune titles, as previously provided to Service Recipient. At the request of Service Recipient, Seller will provide
copies of the relevant portions of the invoices, books, and records substantiating the third-party costs (including, for the avoidance
of doubt, relevant documentation substantiating actual consumption or other metrics relating to Service Recipient or other Seller
publications to the extent third party costs are allocated on pro-rata basis).

 

    	 	9	 

    	 

    

 

Section
3.02. Adjustments to Costs. If at any time following the date of this Agreement, the Parties agree to add, amend
or remove any additional Services or Space Sharing pursuant to Section 2.02, then, concurrently with the addition, amendment
or removal of such additional Services or Space Sharing, the Parties shall work in good faith to amend Schedule A, Schedule
B and/or Schedule C to reflect such additional Services or Space Sharing, and the related Costs.

 

Section
3.03. Payment Terms.

 

	 	(a)	Seller
    shall invoice Service Recipient monthly, within 20 Business Days after the end of each month, or at such other interval specified
    with respect to a particular Service or Space Sharing in Schedule C, an amount equal to the aggregate Costs due for
    (i) all Services, (ii) Space Sharing and (iii) all actual, out-of-pocket costs attributable to Service Recipient for third-party
    service providers and any licenses, provided in such month or other specified interval, as applicable. Service Recipient shall
    pay, or shall cause another member of its Group to pay, such amount in full within 30 days after receipt of each invoice by
    wire transfer of immediately available funds to the account designated by Seller for this purpose. Notwithstanding the foregoing,
    Service Recipient shall pay the amounts due for October 2019 (including services and third party costs) no later than January
    31, 2020, for November 2019 no later than February 29, 2020, and for December 2019 no later than March 31, 2020. Invoices
    shall be directed to Service Recipient’s Service Manager or to such other person designated in writing from time to
    time by such Service Manager. Each invoice shall set forth in reasonable detail the calculation of the charges and amounts
    for each Service and the Space Sharing during the month or other specified interval to which such invoice relates. In addition
    to any other remedies for non-payment, if any payment is not received by Seller on or before the date such amount is due,
    then a late payment interest charge, calculated at a 10% per annum rate, shall immediately begin to accrue and any late payment
    interest charges shall become immediately due and payable in addition to the amount otherwise owed under this Agreement. Notwithstanding
    anything herein to the contrary, in the event that Service Recipient in good faith disputes any portion of an invoice delivered
    hereunder by written notice to Seller within 10 days following receipt of such invoice, Service Recipient shall not be deemed
    to be in breach of this Agreement for non- payment pending resolution of the applicable dispute; provided, that Service
    Recipient shall pay any portion of such invoice which is not in dispute in accordance with the provisions of this Section
    3.03; and provided, further, that any amounts disputed by Service Recipient which are finally determined
    to be payable by Service Recipient shall be deemed to have accrued interest at a 10% per annum rate from the date payment
    would have become due absent a dispute.
	 	 	 
	 	(b)	Seller
                                         will pay to Service Provider any accounts receivable received by Seller on behalf of
                                         Service Provider on a monthly basis; provided that Seller may apply any receipts due
                                         to Service Recipient to any payment due hereunder that is not received by Seller on or
                                         before the date such amount is due (excluding any amounts disputed in good faith pursuant
                                         to Section 3.03(a) above). Service Recipient shall be responsible for all sales
                                         tax, value-added tax, goods and services tax or similar tax imposed or assessed as a
                                         result of the provision of Services and Space Sharing by Seller.

        

 

    	 	10	 

    	 

    

 

Section
3.04. Limited Warranty. Seller warrants to Service Recipient that (a) the Services performed by it or any of its
Affiliates shall be performed (i) in a workmanlike manner, (ii)
in accordance with applicable Laws (including, without limitation, the United States Foreign Corrupt Practices Act (and other
similar Laws imposed by jurisdictions outside of the United States), applicable import and export controls and applicable Laws
relating to labor and employment practices), and (iii) by individuals qualified for the tasks to which they are assigned, and
(b) Seller will, while Services are being provided pursuant to this Agreement, use commercially reasonable efforts to maintain
in full force and effect, and not terminate or cancel, any material business licenses, permits and other authorizations existing
as of the Effective Date and required to be maintained by Seller in order to provide such Services. Subject to the terms and provisions
of this Agreement, all Services to be provided by Seller hereunder shall be provided in a timely manner in accordance with the
Schedules hereto and the reasonable requests of Service Recipient (as they relate to the timing of provision of Services).

 

Section
3.05. DISCLAIMER OF WARRANTIES. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 3.04, THE SERVICES AND SPACE SHARING
TO BE PROVIDED UNDER THIS AGREEMENT ARE FURNISHED WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING
ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE. OTHER THAN AS EXPRESSLY SET FORTH IN SECTION 3.04,
NO MEMBER OF THE SELLER GROUP MAKES ANY REPRESENTATION OR WARRANTY THAT ANY SERVICE COMPLIES WITH ANY APPLICABLE LAW. NOTWITHSTANDING
THE FOREGOING, NOTHING IN THIS SECTION 3.05 SHALL BE DEEMED TO LIMIT, EXPAND OR OTHERWISE MODIFY THE REPRESENTATIONS AND
WARRANTIES MADE BY SELLERS PURSUANT TO THE PURCHASE AGREEMENT OR ANY REMEDIES IN CONNECTION THEREWITH.

 

Section
3.06. Books and Records. Seller shall, and shall cause the members the Seller Group to, maintain complete and accurate
books of account as necessary to reasonably support calculations of the Costs for Services rendered by the Seller Group.

 

ARTICLE
IV.

 

TERM

 

Section
4.01. Commencement. This Agreement is effective as of the date hereof and shall remain in effect (a) until the occurrence
of all Applicable Termination Dates hereunder or (b) with respect to a particular Service Category or the Space Sharing, until
the occurrence of the Applicable Termination Date applicable to such Service Category or Space Sharing, unless earlier terminated
(x) in its entirety or with respect to a particular Service Category or Space Sharing, in each case in accordance with Section
4.02, or (y) by mutual written consent of the Parties.

 

    	 	11	 

    	 

    

 

Section
4.02. Termination.

 

	 	(a)	Subject
    to Seller’s rights set forth in Section 7.02, if (i) Service Recipient materially breaches any of its obligations
    under this Agreement, and (ii) the applicable cure period set forth in Section 7.01 has expired without cure, Seller
    shall have the right to terminate Service Recipient’s right to Space Sharing of one or more of the Premises by delivering
    not less than thirty (30) days prior written notice to Service Recipient.
	 	 	 
	 	(b)	If
    Seller or Service Recipient materially breaches any of its respective obligations under this Agreement (and the applicable
    cure period set forth in Section 7.01 has expired), the non-breaching Party may terminate this Agreement effective
    upon not less than 30 days’ written notice of termination to the breaching Party.
	 	 	 
	 	(c)	Except
    as otherwise provided in this Agreement or Schedule A, upon not less than 30 days’ prior written notice to Seller,
    Service Recipient shall be entitled to terminate one or more Service Categories, in whole, being provided by Seller for any
    reason or no reason at all; provided, however, that (i) any costs, fees, or expenses of Seller, to the extent
    resulting directly from such early termination of Services, shall be borne by Service Recipient, and (ii) the termination
    of some Service Categories may require the termination of other Service Categories.
	 	 	 
	 	(d)	In
    the event of any termination of this Agreement in its entirety or with respect to any Service Category, Service or the Space
    Sharing, Service Recipient shall remain liable for all of its obligations that accrued hereunder prior to the date of such
    termination, including all obligations of Service Recipient to pay any amounts due to Seller hereunder.
	 	 	 
	 	(e)	Upon
    request by Service Recipient, upon at least thirty (30) days’ notice prior to the expiration or termination of this
    Agreement or the Applicable Termination Date with respect to any Service Category or Service, Seller shall provide Service
    Recipient with reasonable assistance services as Service Recipient may reasonably request to transition the Services to Service
    Recipient, or to a third party service provider designated by Service Recipient (“Transition Services”)
    after notification of any partial or whole termination or expiration of this Agreement, and such Transition Services shall
    continue until the effective date of expiration or termination of this Agreement or the Applicable Termination Date with respect
    to any Service Category or Service, as applicable (provided that, in no event will the Transition Services extend beyond the
    Applicable Termination Date for any particular Service Category or Service). The Transition Services shall include Seller’s
    provision of reasonable assistance necessary to aid in the transfer of the affected Services from Seller to Service Recipient
    or to any new service provider selected by Service Recipient. Such Transition Services shall be governed by all applicable
    terms and conditions of the Agreement; provided, however, that, Service Recipient shall compensate Seller for any personnel
    costs (chargeable on a time and materials basis) as well as third party costs to perform such Transition Services.
	 	 	 
	 	(f)	Upon
    termination of the Space Sharing, Service Recipient shall (i) remove all of its personal property and (ii) shall surrender
    the applicable Premises to Seller in good condition, subject to ordinary wear and tear.

 

    	 	12	 

    	 

    

 

Section
4.03. Return of Books, Records and Files. Upon the request of Service Recipient during the term or after the termination
of a Service with respect to which Seller holds books, records, data or files, including current and archived copies of computer
files, (i) owned solely by Service Recipient or its Affiliates and used by Seller in connection with the provision of a Service
pursuant to this Agreement, (ii) created by Seller and in Seller’s possession as a function of and relating solely to the
provision of Services pursuant to this Agreement, or (iii) otherwise processed, generated, calculated, derived or stored by, or
transmitted to, Seller or the Sub- Contractors or any third parties providing Services to the extent such records are solely applicable
to Service Recipient, such books, records, data and files shall either be returned to Service Recipient at Service Recipient’s
cost or destroyed by Seller, with certification of such destruction provided to Service Recipient upon Service Recipient’s
written request. Any information kept by Seller in electronic form in a format proprietary to systems used by Seller shall also
be transmitted to Service Recipient in a commonly available, non-proprietary data interchange format, together with such data
dictionary or other information as is reasonably required to identify the location, types and other specifications of data for
import into Service Recipient’s system; provided, that Seller may retain copies of any computer records or files
containing such information which have been created pursuant to automatic archiving or backup procedures until such computer records
or files have been deleted in the ordinary course provided that Seller maintains the confidentiality of such information in accordance
with the terms and provisions of this Agreement.

 

ARTICLE
V.

 

INDEMNIFICATION

 

Section
5.01. Indemnification. Subject to the limitations set forth in Section 5.02, each Party, on its own behalf and on
behalf of each member of its Group (the “Indemnifying Party”), shall indemnify, defend, and hold harmless each
other Party and each member of such other Party’s Group (each, an “Indemnified Party” and collectively,
the “Indemnified Parties”) from and against any and all Losses resulting directly from any third-party claim
incurred by the Indemnified Parties in connection with the Services arising out of, in connection with, or by reason of the fraud,
gross negligence or willful misconduct of the Indemnifying Party or a breach of this Agreement by the Indemnifying Party. In addition,
Service Recipient, and on behalf of each member of its Group, shall indemnify, defend and hold harmless Seller and each member
of its Group from and against any and all Losses to the extent arising out of or in connection with (i) the presence of any personnel
of Service Recipient Group at the Leased Real Properties (including any damage to the premises or any assets thereon from any
action or inaction of any personnel or Service Recipient Group, the failure of Service Recipient personnel to comply with building
policies and procedures (to the extent copy of such building policies shall have been delivered to Service Recipient) and any
personal injuries suffered by any Service Recipient personnel), unless such Losses result from the gross negligence or willful
misconduct of Seller or any member of Seller Group, (ii) Service Recipient’s breach of any Real Property Leases (to the
extent copy of such Real Property Lease shall have been delivered to Service Recipient), or (iii) any action or in action of Service
Recipient, or a member of Service Recipient Group.

 

Section
5.02. Limitation on Liability.

 

	 	(a)	EXCEPT
    IN THE CASE OF FRAUD, GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, IN NO EVENT SHALL ANY INDEMNIFYING PARTY BE LIABLE, WHETHER
    IN CONTRACT, IN TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR OTHERWISE TO THE OTHER PARTY (OR ANY OF ITS INDEMNITEES)
    FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES (INCLUDING LOSS OF PROFITS) AS A RESULT OF ANY BREACH, PERFORMANCE,
    OR NON-PERFORMANCE BY A PARTY UNDER THIS AGREEMENT, EXCEPT AS MAY BE PAYABLE TO A CLAIMANT IN A THIRD- PARTY CLAIM.

 

    	 	13	 

    	 

    

 

	 	(b)	EXCEPT
    IN THE CASE OF FRAUD, GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, EACH GROUP’S TOTAL LIABILITY TO THE OTHER GROUP ARISING
    OUT OF, RELATED TO OR IN CONNECTION WITH THE SERVICES OR THIS AGREEMENT FOR ANY AND ALL LOSSES OR CLAIMS SHALL NOT EXCEED
    IN THE AGGREGATE AN AMOUNT EQUAL TO THE TOTAL COSTS PAYABLE UNDER THIS AGREEMENT; PROVIDED, HOWEVER, THAT THIS
    LIMITATION OF LIABILITY SHALL NOT IN ANY WAY LIMIT THE PARTY’S LIABILITY TO THE EXTENT THAT THE LIABILITY IS CAUSED
    BY (I) A PARTY’S FRAUD OR WILLFUL MISCONDUCT, (II) A PARTY’S BREACH OF SUCH PARTY’S CONFIDENTIALITY OBLIGATIONS
    (AS SPECIFIED IN SECTION 8.07) OR (III) WITH RESPECT TO EACH PARTY’S INDEMNIFICATION OBLIGATIONS UNDER THIS AGREEMENT.
	 	 	 
	 	(c)	IN
    ADDITION, AND NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, SELLER SHALL NOT BE LIABLE FOR LOSSES RESULTING FROM CLAIMS
    THAT ACTS OR OMISSIONS OF SELLER VIOLATED PRIVACY, CONSUMER PROTECTION OR OTHER APPLICABLE LAWS IN CONNECTION WITH THE PROVISION
    OF SERVICES TO SERVICE RECIPIENT (I) TO THE EXTENT SELLER PERFORMED THE SERVICES IN ACCORDANCE WITH THIS AGREEMENT, OR IN
    ACCORDANCE WITH THE DIRECTIONS, INSTRUCTIONS, APPROVALS, AUTHORIZATIONS OR DECISIONS OF SERVICE RECIPIENT OR SERVICE RECIPIENT’S
    SERVICE MANAGER, (II) TO THE EXTENT SELLER HAS USED COMMERCIALLY REASONABLE EFFORTS TO COMPLY WITH APPLICABLE PRIVACY, CONSUMER
    PROTECTION OR OTHER APPLICABLE LAWS CONSISTENT WITH THE EFFORTS SELLER USES FOR ITS OWN BUSINESSES, OR (III) TO THE EXTENT
    SUCH LOSSES RESULT FROM SERVICE RECIPIENT’S PRIVACY POLICY DEVIATING FROM SELLER’S PRIVACY POLICY.

 

Section
5.03. Survival. The provisions of this ARTICLE V shall survive indefinitely, notwithstanding any termination
of all or any portion of this Agreement.

 

ARTICLE
VI.

 

OTHER COVENANTS

 

Section
6.01. Authority of Seller. Seller shall not be permitted to bind Service Recipient or any of its Affiliates or enter
into any agreements (oral or written), contracts, leases, licenses or other documents (including the signing of checks, notes,
bills of exchange or any other document, or accessing any funds from any bank accounts of Service Recipient or any of its Affiliates)
on behalf of Service Recipient or any of its Affiliates except with the express prior written consent of Service Recipient which
consent may be given from time to time as the need arises and for such limited purposes as expressed therein.

 

    	 	14	 

    	 

    

 

Section
6.02. Certain Conditions Precedent. No Seller Group member shall be obligated to pay any amounts to any third party
on behalf of any Service Recipient Group member (including, without limitation, in respect of any accounts payable of Service
Recipient Group for which any Seller Group member is providing Accounts Payable Services) unless and until the following conditions
shall have been met:

 

	 	(a)	to
    the extent the Seller Group does not have sufficient cash receipts in respect of the accounts receivable of Service Recipient
    Group to pay such third party, Service Recipient Group shall deposit cash in an amount equal to the amount owed to such third
    party into the bank account of the Seller Group set forth on Schedule D attached hereto for the payment to such third
    party by the Seller Group; and
	 	 	 
	 	(b)	Service
    Recipient Service Manager shall have instructed the Seller Group in writing that such third party shall be paid.

 

For
the avoidance of doubt, no member of the Seller Group shall be liable to Service Recipient, any Service Recipient Group member
or any third party for (x) any breach of this Section 6.02 by Service Recipient or any Service Recipient Group member (including,
without limitation, if the Seller Group does not pay a third party or account payable as a result of such breach) or (y) carrying
out the instructions of Service Recipient or any Service Recipient Group member, and each Service Recipient Group member and Service
Recipient, jointly and severally, shall indemnify and defend each Seller Group member against, and shall hold them harmless from,
any and all Losses resulting from, arising out of, or incurred by any of them in connection with, or otherwise with respect to
the foregoing.

 

Section
6.03 Additional Documents. Service Recipient agrees to reasonably cooperate and promptly execute such additional
documents or agreements as may be reasonably required by Seller and/or the applicable Landlord to document the Space Sharing.

 

Section
6.04 Compliance with Laws. Notwithstanding anything to the contrary set forth in this Agreement, Seller and Service
Recipient each agree that they will abide by all Laws applicable to this Agreement and their activities and performance hereunder.
With respect to privacy, consumer protection and other similar Laws, the Parties will use commercially reasonable efforts to comply
with such Laws consistent with customary industry practice, and in no event less than a Party’s compliance efforts with
respect to its own businesses. The Parties will cooperate in good faith to mitigate any legal compliance matters that could result
from differences in their respective privacy policies. If a Party becomes aware that it cannot satisfy any covenant, condition
or obligation of this Agreement as a result of any such Law, it shall promptly notify the other Party and the Parties shall use
all reasonable efforts to remediate the situation.

 

    	 	15	 

    	 

    

 

ARTICLE
VII.

 

BREACH,
NOTICE, AND CURE

 

Section
7.01. Breach, Notice, and Cure. No breach of this Agreement by a Party shall be deemed to have occurred unless a
non-breaching Party serves written notice on the breaching Party specifying the nature thereof and the breaching Party fails to
cure such breach, if any, (a) in the case of a breach of a Party’s payment obligations, within 10 Business Days after receipt
of such notice, and (b) in the case of a breach of a Party’s non-payment obligations, within 30 days after receipt of such
notice.

 

Section
7.02. Space Sharing Default. The occurrence of a default, as such term is defined in the applicable Real Property
Lease, by Service Recipient shall constitute a default and breach of this Agreement by Service Recipient. In the event of a default
by Service Recipient which would give rise to a right on the part of the applicable Landlord to terminate the applicable Real
Property Lease, and as a result of such breach such Landlord takes any action to terminate the applicable Real Property Lease
or recover possession of the applicable Premises, Seller shall have the right to immediately terminate this Agreement with respect
to the Space Sharing and recover possession of the applicable Premises from Service Recipient. Service Recipient shall indemnify
Seller in accordance with Article V hereof and shall be entitled to receive from Service Recipient all costs and damages required
to be paid to the applicable Landlord with respect to such default by Service Recipient.

 

ARTICLE
VIII.

 

MISCELLANEOUS

 

Section
8.01. Notices. All notices, requests, claims, demands, and other communications hereunder shall be in writing and
shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by E-mail (to the E-mail address
provided by the relevant party, provided that any notice delivered by E-mail must be confirmed by the recipient to be received
under this Section 8.01), by overnight courier, or by registered or certified mail (postage prepaid, return receipt requested)
to the other Parties as follows:

 

To
any member of the Seller Group:

 

Meredith Corporation

1716
Locust Street

Des
Moines, Iowa 50309-3023

Attention:
John S. Zieser, General Counsel

 

with
a copy (which shall not constitute notice) to:

 

Cooley
LLP

1299
Pennsylvania Avenue, NW, Suite 700

Washington,
DC 20004-2400

Attention:
J. Kevin Mills and Aaron Binstock

Email:
kmills@cooley.com and abinstock@cooley.com

 

    	 	16	 

    	 

    

 

To
any member of Service Recipient Group:

 

TheMaven,
Inc.

1500
Fourth Avenue, Suite 200

Seattle,
WA 98101 Attention: Legal Department Email: legal@maven.io

 

with
a copy (which shall not constitute notice) to:

 

Hand
Baldachin & Associates LLP

8 West 40th Street, 12th Floor

New York, NY 10018

Attention:
Alan Baldachin

E-mail:
abaldachin@hballp.com

 

or
to such other address as the Party to whom notice is given may have previously furnished to the others in writing in the manner
set forth above.

 

Section
8.02. Amendment; Waivers. This Agreement may be amended or modified only by a written agreement executed and delivered
by each of the Parties. This Agreement may not be modified or amended except as provided in the immediately preceding sentence
and any purported amendment by any Party or Parties effected in a manner which does not comply with this Section 8.02 shall
be null and void. By an instrument in writing, each of Seller, on the one hand, and Service Recipient, on the other hand, may
waive compliance by the other with any term or provision of this Agreement that the other was or is obligated to comply with or
perform.

 

Section
8.03. Title to Data. Each Party acknowledges that it will acquire no right, title, or interest (including any license
rights or rights of use) in any data, firmware or software, or the licenses therefor that are owned by the other Party or its
Group by reason of the provision or receipt of the Services hereunder, except as expressly provided in Section 2.01(l).

 

Section
8.04. Force Majeure. In case performance of any terms or provisions hereof shall be delayed or prevented, in whole
or in part, because of or related to compliance with any applicable Law, or because of riot, war, public disturbance, strike,
labor dispute, fire, explosion, storm, flood, act of God, denial of service attacks or other “hacker” activity, or
act of terrorism that is not within the reasonable control of Seller, and which by the exercise of reasonable diligence Seller
is unable to prevent, or for any other reason which is not within the reasonable control of Seller (each, a “Force Majeure
Event”), then, upon prompt written notice stating the date and extent of such interference and the cause thereof by
Seller to Service Recipient, Seller shall be excused from its obligations hereunder during the period such Force Majeure Event
or its effects continue, and no liability shall attach against either Seller or Service Recipient on account thereof; provided,
however, that (i) Seller uses commercially reasonable efforts to restore the affected Services as soon as practicable,
and promptly resumes the required performance upon the cessation of the Force Majeure Event or its effects, and (ii) Seller shall
allocate to the Services any delay or suspension of performance of any Service in a manner no less favorable than the manner by
which it allocates such delay or suspension of performance of Services to itself or any of its Affiliates’ business units
or locations with respect to the provision of comparable services. A Force Majeure Event shall not relieve Service Recipient from
liability or otherwise affect the obligation of Service Recipient to pay amounts due under this Agreement in a timely manner for
Services rendered prior to the occurrence of such Force Majeure Event or which are otherwise incurred prior to the occurrence
of that Force Majeure Event.

 

    	 	17	 

    	 

    

 

 

Section
8.05. Terms of the Purchase Agreement. The Parties agree that, in the event of any inconsistencies or ambiguities
or conflict between this Agreement and the Purchase Agreement with respect to the subject matter hereof, the terms of the Purchase
Agreement shall govern.

 

Section
8.06. Relationship of Parties. Nothing in this Agreement shall be deemed or construed by the Parties or any third
party as creating a relationship of principal and agent, partnership, or joint venture between the Parties, or with any individual
providing Services, it being understood and agreed that no provision contained herein, and no act of any Party or members of their
respective Groups, shall be deemed to create any relationship between the Parties or members of their respective Groups other
than the relationship set forth herein. Each Party and each Seller Group member shall act under this Agreement solely as an independent
contractor and not as an agent or employee of any other Party or any of such Party’s Affiliates.

 

Section
8.07. Confidentiality.

 

	 	(a)	Each
    Party undertakes to treat as confidential and shall not, except as permitted in this Section 8.07, disclose or make
    available to any third party (other than Sub-Contractors) all information in any medium or format (whether marked “confidential”
    or not) which that Party (the “Receiving Party”) receives during the term of this Agreement and for the
    purposes of this Agreement from any other Party (the “Disclosing Party”) either directly or from any person,
    firm, Sub-Contractor, company, or organization associated with the Disclosing Party, which concerns the business or operations
    of the Disclosing Party or its Affiliates and is owned by the Disclosing Party (the “Confidential Information”).
    The Receiving Party shall, with respect to any Confidential Information received hereunder, use the same standard of care
    as it applies to its own Confidential Information of similar character, provided that such standard is at least reasonable.
	 	 	 
	 	(b)	The
    Receiving Party may use the Confidential Information of the Disclosing Party for the purposes of this Agreement and the Receiving
    Party may provide its Affiliates, and its and their directors, officers, employees, agents, Sub-Contractors, auditors, and
    representatives with access to such Confidential Information on a strict “need-to-know” basis only. Each Party
    shall ensure that its Affiliates, and its and their directors, officers, employees, agents, Sub-Contractors, auditors, and
    representatives comply with such Party’s obligations of confidence. Each separate recipient shall be bound to hold all
    such Confidential Information in confidence to the standard required under this Agreement. Where such recipient is not an
    employee or director of the relevant Receiving Party or one of its Affiliates, the Receiving Party shall provide the Confidential
    Information to such permitted persons subject to reasonable and appropriate obligations of confidence. Each Party shall be
    responsible for any breach of this Section 8.07 by its Affiliates, and its and their directors, officers, employees,
    agents, Sub-Contractors, auditors, and representatives, including, with respect to Service Recipient, for any breach of this
    Section 8.07 by any Service Recipient employee or contractor located on a Seller property pursuant to the Space Sharing.

 

    	 	18	 

    	 

    

 

	 	(c)	The
    provisions of this Section 8.07 shall not apply to any information which enters the public domain other than as a result
    of a breach of this Section 8.07, is received from a third party which is under no confidentiality obligations with
    respect to such information or is independently developed by one Party without the use of another Party’s Confidential
    Information. The Receiving Party may disclose the Confidential Information of the Disclosing Party (i) where required to do
    so by applicable Law or by any competent Governmental Entity (including any United States or foreign securities exchange)
    or (ii) in the case of a Receiving Party that is an Affiliate of a public company, in accordance with the public filing practices
    of such public company. In these circumstances, the Receiving Party shall give the Disclosing Party prompt advance written
    notice of the disclosures (where lawful and practical to do so) so that the Disclosing Party has sufficient opportunity (where
    reasonably possible) to prevent or control the manner of disclosure by appropriate legal means.
	 	 	 
	 	(d)	Except
    to the extent required under this Agreement or required for purposes of complying with applicable Law, all Confidential Information,
    in written or other tangible media, shall be returned to the Disclosing Party or destroyed by the Receiving Party (such destruction
    to be certified in writing to the Disclosing Party by an authorized officer of such Receiving Party) within thirty (30) days
    following the expiration, termination, or cancellation of this Agreement and all electronic Confidential Information shall
    be deleted from the Receiving Party’s systems.
	 	 	 
	 	(e)	The
    provisions of this Section 8.07 shall survive indefinitely, notwithstanding any termination of all or any portion of
    this Agreement.

 

Section
8.08. Entire Agreement. This Agreement, the Purchase Agreement, the Ancillary Documents to which the Parties are
party thereto, along with the Annexes, Schedules, and Exhibits hereto and thereto, constitute the entire agreement among the Parties
with respect to the subject matter hereof and supersede all other prior agreements and understandings, both written and oral,
among the Parties with respect to subject matter hereof.

 

Section
8.09. Assignment; Third-Party Beneficiaries. This Agreement and the rights and obligations hereunder shall not be
assignable or transferable, in whole or in part, whether by operation of law or otherwise, without the prior written consent of
the other Party, which consent shall not be unreasonably withheld; provided, however, that (a) Service Recipient may, without
the prior written consent of Seller, assign this Agreement to an Affiliate of Service Recipient that holds assets of the Business
(or is the direct parent of an entity that holds assets of the Business) and is receiving the Services and (b) Seller may, without
the prior written consent of Service Recipient, delegate any or all of its obligations to perform Services under this Agreement
to any one or more of its Affiliates or Sub-Contractors in accordance with Section 2.01(g); provided, further,
that Seller shall remain primarily liable hereunder notwithstanding any such delegation or assignment. Any attempted assignment
in violation of this Section 8.09 shall be null and void. Subject to the preceding sentence, this Agreement shall be binding upon,
insure to the benefit of, and be enforceable by, the Parties and their respective successors and permitted assigns. Except as
otherwise set forth in this Agreement, this Agreement is not intended to nor will confer upon any other Person any right, benefit
or remedy of any nature whatsoever under or by reason of this Agreement.

 

    	 	19	 

    	 

    

 

Section
8.10. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware
or any other jurisdiction) that would cause the application or the law of any jurisdiction other than the State of Delaware.

 

Section
8.11. Counterparts; Facsimile Signatures. This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same agreement. Delivery of an executed counterpart
of a signature page to this Agreement by facsimile or scanned pages shall be as effective as delivery of a manually executed counterpart
to this Agreement.

 

Section
8.12. Severability. If any term or other provision of this Agreement is invalid, illegal or unenforceable, all other
provisions of this Agreement shall remain in full force and effect so long as the economic or legal substance of the transactions
contemplated hereby is not affected in any manner materially adverse to any party.

 

Section
8.13. Construction; Interpretation. The term “this Agreement” means this Agreement together with the
schedules, exhibits, and annexes hereto, as the same may from time to time be amended, modified, supplemented or restated in accordance
with the terms hereof. The headings contained in this Agreement are inserted for convenience only and shall not affect in any
way the meaning or interpretation of this Agreement. No Party, nor its respective counsel, shall be deemed the drafter of this
Agreement for purposes of construing the provisions hereof, and all provisions of this Agreement shall be construed according
to their fair meaning and not strictly for or against any Party. Unless otherwise indicated to the contrary herein by the context
or use thereof: (i) the words, “herein,” “hereto,” “hereof” and words of similar import refer
to this Agreement as a whole, including the schedules, exhibits, and annexes, and not to any particular section, subsection, paragraph,
subparagraph or clause contained in this Agreement; (ii) masculine gender shall also include the feminine and neutral genders,
and vice versa; (iii) words importing the singular shall also include the plural, and vice versa; (iv) the words “include,”
“includes” or “including” shall be deemed to be followed by the words “without limitation”;
and (v) references to “$” or “dollar” or “US$” shall be references to United States dollars.

 

Section
8.14. Exhibits, Schedules, Annexes. All exhibits, schedules, and annexes, and all documents expressly incorporated
into this Agreement, are hereby incorporated into this Agreement and are hereby made a part hereof as if set out in full in this
Agreement.

 

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Section
8.15. Waiver of Jury Trial. EACH PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL
BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (I) ARISING UNDER THIS AGREEMENT OR (II) IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN
EACH CASE, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. EACH PARTY HEREBY FURTHER
AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND
THAT THE PARTIES MAY FILE A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES TO THE WAIVER
OF THEIR RIGHT TO TRIAL BY JURY.

 

Section
8.16. Jurisdiction and Venue. Each of the Parties (i) submits to the exclusive jurisdiction of the Court of Chancery
of the State of Delaware and any federal court located in the State of Delaware, or, if neither of such courts has jurisdiction,
any state court of the State of Delaware having jurisdiction, in any action or proceeding arising out of or relating to this Agreement,
(ii) agrees that all claims in respect of such action or proceeding may be heard and determined in any such court and (iii) agrees
not to bring any action or proceeding arising out of or relating to this Agreement in any other court. Each of the Parties waives
any defense of inconvenient forum to the maintenance of any action or proceeding so brought and waives any bond, surety, or other
security that might be required of any other Party with respect thereto. Each Party agrees that service of summons and complaint
or any other process that might be served in any action or proceeding may be made on such Party by sending or delivering a copy
of the process to the Party to be served at the address of the Party and in the manner provided for the giving of notices in Section
8.01. Nothing in this Section 8.16, however, shall affect the right of any Party to serve legal process in any other
manner permitted by Law. Each Party agrees that a final, non- appealable judgment in any action or proceeding so brought shall
be conclusive and may be enforced by suit on the judgment or in any other manner provided by Law.

 

Section
8.17. Remedies. The Parties agree that irreparable damage for which monetary damages, even if available, would not
be an adequate remedy, would occur in the event that the Parties do not perform their respective obligations under the provisions
of this Agreement in accordance with their specific terms or otherwise breach such provisions. It is accordingly agreed that the
Parties shall be entitled to an injunction or injunctions, specific performance and other equitable relief to prevent breaches
of this Agreement and to enforce specifically the terms and provisions of this Agreement. Each of the Parties agrees that it will
not oppose the granting of an injunction, specific performance and other equitable relief when expressly available pursuant to
the terms of this Agreement on the basis that the other Parties have an adequate remedy at law or an award of specific performance
is not an appropriate remedy for any reason at law or equity.

 

[Remainder
of page intentionally left blank.]

 

    	 	21	 

    	 

    

 

IN
WITNESS WHEREOF, the Parties have executed and delivered this Transition Services Agreement as of the day and year first above
written.

 

	 	MEREDITH
    CORPORATION
	 	 	 
	 	By:	/s/
    Joseph H. Ceryanec
	 	Name:
    	Joseph
    H. Ceryanec
	 	Title:	Chief
    Financial Officer.

 

[Signature
Page to Transition Services Agreement - Maven]

 

    	 	22	 

    	 

    

 

IN
WITNESS WHEREOF, the Parties have executed and delivered this Transition Services Agreement as of the day and year first above
written.

 

	 	THEMAVEN,
    INC.
	 	 	 
	 	By:	/s/
    James Heckman
	 	Name:
    	James
    Heckman
	 	Title:
    	Chief
    Executive Officer

 

[Signature
Page to Transition Services Agreement - Maven]

 

    	 	23

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