Document:

Exhibit
4.14

 

DESCRIPTION
OF THE REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

The
following is a summary of all material characteristics of the capital stock of TheMaven, Inc., a Delaware corporation (“theMaven,”
the “Company,” “we,” “us,” or “our”), as set forth in our Restated Certificate
of Incorporation, as amended (the “Certificate of Incorporation”) and our Amended and Restated Bylaws (the “Bylaws”),
and as registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The summary
does not purport to be complete and is qualified in its entirety by reference to our Certificate of Incorporation and our Bylaws,
each of which are incorporated by reference as exhibits to the Annual Report on Form 10-K of which this Exhibit 4.14 is a part
and to the provisions of the Delaware General Corporate Law (the “DGCL”). We encourage you to review complete copies
of our Certificate of Incorporation and our Bylaws, and the applicable provisions of the DGCL for additional information.

 

General

 

Our
authorized capital stock consists of 1,001,000,000 shares, divided into 1,000,000,000 shares of common stock, par value $0.01
per share (the “Common Stock”), and 1,000,000 shares of preferred stock, par value $0.01 per share (“Preferred
Stock”). Under our Certificate of Incorporation, our board of directors (our “Board”) has the authority to issue
such shares of Common Stock and Preferred Stock in one or more classes or series, with such voting powers, designations, preferences
and relative, participating, optional or other special rights, if any, and such qualifications, limitations or restrictions thereof,
if any, as shall be provided for in a resolution or resolutions adopted by our Board and filed as designations.

 

Common
Stock

 

As
of March 22, 2020, 230,202,832 shares of our Common Stock were outstanding.

 

Holders
of our Common Stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders,
including the election of directors, and are entitled to receive dividends when and as declared by our Board out of funds legally
available therefore for distribution to stockholders and to share ratably in the assets legally available for distribution to
stockholders in the event of the liquidation or dissolution, whether voluntary or involuntary, of theMaven. We have not paid any
dividends and do not anticipate paying any dividends on our Common Stock in the foreseeable future. It is our present policy to
retain earnings, if any, for use in the development of our business. Our Common Stockholders have cumulative voting rights in
the election of directors and have no preemptive, subscription, or conversion rights. Our Common Stock is not subject to redemption
by us.

 

The
transfer agent and registrar for our Common Stock is American Stock Transfer and Trust Company, LLC.

 

Preferred
Stock

 

Of
the 1,000,000 shares of Preferred Stock authorized, our Board has previously designated:

 

	 	●	2,000
    shares of Preferred Stock as Series F Convertible Preferred Stock, none of which is currently outstanding;
	 	●	1,800
    shares of Preferred Stock as Series G Convertible Preferred Stock; of which approximately 168 shares remain outstanding;
	 	●	23,000
    shares of Preferred Stock as Series H Convertible Preferred Stock; of which 19,596 shares remain outstanding;
	 	●	25,800
    shares of Preferred Stock as Series I Convertible Preferred Stock, all previously outstanding shares of which were converted
    into shares of our Common Stock on or about December 18, 2020;
	 	●	35,000
    shares of Preferred Stock as Series J Convertible Preferred Stock, all previously outstanding shares of which were converted
    into shares of our Common Stock on or about December 18, 2020;
	 	●	20,000
    shares of Preferred Stock as Series K Convertible Preferred Stock, all previously outstanding shares of which were converted
    into shares of our Common Stock on or about December 18, 2020

 

    	 

    	 

    

 

Of
the 1,000,000 shares of Preferred Stock, 892,400 shares of our Preferred Stock remain available for designation by our Board.
Accordingly, our Board is empowered, without stockholder approval, to issue Preferred Stock with dividend, liquidation, conversion,
voting or other rights that could adversely affect the voting power or other rights of the holders of Common Stock. The issuance
of Preferred Stock could have the effect of restricting dividends on the Common Stock, diluting the voting power of the Common
Stock, impairing the liquidation rights of the Common Stock, or delaying or preventing a change in control of us, all without
further action by our stockholders.

 

Series
H Convertible Preferred Stock

 

The
Series H Convertible Preferred Stock has a stated value of $1,000, convertible into shares of our common stock, at the option
of the holder subject to certain limitations, at a conversion rate equal to the stated value divided by the conversion price of
$0.33 per share. In addition, if at any time prior to the nine month anniversary of the closing date, we sell or grant any option
or right to purchase or issue any shares of our common stock, or securities convertible into shares of our common stock, with
net proceeds in excess of $1,000,000 in the aggregate, entitling any person to acquire shares of our common stock at an effective
price per share that is lower than the then conversion price (such lower price, the “Base Conversion Price”), then
the conversion price will be reduced to equal the Base Conversion Price. All the shares of Series H Preferred Stock automatically
convert into shares of our common stock on the fifth anniversary of the closing date at the then-conversion price. The number
of shares issuable upon conversion of the Series H Convertible Preferred Stock will be adjusted in the event of stock splits,
stock dividends, combinations of shares, and similar transactions. Each share of Series H Convertible Preferred Stock is entitled
to vote on an as-if-converted to common stock basis, subject to beneficial ownership blocker provisions and other certain conditions.

 

Certain
Provisions of our Certificate of Incorporation, our Bylaws, and the DGCL

 

Certain
provisions in our Certificate of Incorporation and Bylaws, as well as certain provisions of the DGCL, may be deemed to have an
anti-takeover effect and may delay, deter, or prevent a tender offer or takeover attempt that a stockholder might consider to
be in its best interests, including attempts that might result in a premium being paid over the market price of the shares held
by stockholders. These provisions contained in our Certificate of Incorporation and Bylaws include the items described below.

 

	 	●	Special
    Meetings of Stockholders. Our Bylaws provide that special meetings of our stockholders may be called only by a majority
    of our Board, the Chairman of our Board, our Chief Executive Officer, or President (in the absence of our Chief Executive
    Officer).
	 	●	Stockholder
    Advance Notice Procedures. Our Bylaws provide that stockholders seeking to present proposals before a meeting of stockholders
    or to nominate candidates for election as directors at a meeting of stockholders must provide timely notice in writing and
    also specify requirements as to the form and content of a stockholder’s notice. These provisions may delay or preclude
    stockholders from bringing matters before a meeting of our stockholders or from making nominations for directors at a meeting
    of stockholders, which could delay or deter takeover attempts or changes in our management.
	 	●	Exclusive
    Forum. Our Bylaws provide that unless we consent in writing to the selection of an alternative forum, the courts in the
    State of Delaware are, to the fullest extent permitted by applicable law, the sole and exclusive forum for any claims, including
    claims in the right of the Company, any action asserting a claim arising pursuant to any provision of the DGCL, our Certificate
    of Incorporation, or our Bylaws, any action to interpret, apply, enforce, or determine the validity of our Certificate of
    Incorporation or our Bylaws, or any action asserting a claim governed by the internal affairs doctrine.
	 	●	Undesignated
    Preferred Stock. Because our Board has the power to establish the preferences and rights of the shares of any additional
    series of Preferred Stock, it may afford holders of any Preferred Stock preferences, powers, and rights, including voting
    and dividend rights, senior to the rights of holders of our Common Stock, which could adversely affect the holders of Common
    Stock and could discourage a takeover of us even if a change of control of theMaven would be beneficial to the interests of
    our stockholders.

 

    	 

    	 

    

 

These
and other provisions contained in our Certificate of Incorporation and Bylaws are expected to discourage coercive takeover practices
and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first
negotiate with our Board. However, these provisions could delay or discourage transactions involving an actual or potential change
in control of us, including transactions in which stockholders might otherwise receive a premium for their shares over then current
prices. Such provisions could also limit the ability of stockholders to remove current management or approve transactions that
stockholders may deem to be in their best interests.

 

In
addition, we are subject to the provisions of Section 203 of the DGCL. Section 203 of the DGCL prohibits a publicly-held Delaware
corporation from engaging in a “business combination” with an “interested stockholder” for a period of
three years after the person became an interested stockholder, unless:

 

	●	The
    board of directors of the corporation approved the business combination or other transaction in which the person became an
    interested stockholder prior to the date of the business combination or other transaction;
	●	Upon
    consummation of the transaction that resulted in the person becoming an interested stockholder, the person owned at least
    85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining
    the number of shares outstanding, shares owned by persons who are directors and also officers of the corporation and shares
    issued under which employee participants do not have the right to determine confidentially whether shares held subject to
    the plan will be tendered in a tender or exchange offer; or
	●	on
    or subsequent to the date the person became an interested stockholder, the board of directors of the corporation approved
    the business combination and the stockholders of the corporation authorized the business combination at an annual or special
    meeting of stockholders by the affirmative vote of at least 66-2/3% of the outstanding voting stock of the corporation that
    is not owned by the interested stockholder.

 

A
“business combination” includes mergers, asset sales, and other transactions resulting in a financial benefit to the
interested stockholder. Subject to certain exceptions, an “interested stockholder” is a person who, together with
affiliates and associates, owns, or within the prior three years did own, 15% or more of a corporation’s voting stock.

Section
203 of the DGCL could depress our stock price and delay, discourage, or prohibit transactions not approved in advance by our Board,
such as takeover attempts that might otherwise involve the payment to our stockholders of a premium over the market price of our
Common Stock.Exhibit 4.18

 

THIS
WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD,
PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED UNLESS (I) A REGISTRATION STATEMENT COVERING SUCH SHARES IS EFFECTIVE
UNDER THE ACT AND IS QUALIFIED UNDER APPLICABLE STATE AND FOREIGN LAW OR (II) THE TRANSACTION IS EXEMPT FROM THE REGISTRATION
AND PROSPECTUS DELIVERY REQUIREMENTS UNDER THE ACT AND THE QUALIFICATION REQUIREMENTS UNDER APPLICABLE STATE AND FOREIGN LAW AND,
IF THE CORPORATION REQUESTS, AN OPINION SATISFACTORY TO THE CORPORATION TO SUCH EFFECT HAS BEEN RENDERED BY COUNSEL OR (III) SUCH
SECURITIES ARE SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER THE ACT.

 

THEMAVEN,
INC.

 

Warrant
To Purchase Common Stock

 

Warrant
No.: ___

Date
of Issuance: ______, 20__ (“Issuance Date”)

 

TheMaven,
Inc., a Delaware corporation (the “Company”), hereby certifies that, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, ________ (the “Publisher”), the registered holder
hereof or its permitted assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase
from the Company, at the Exercise Price (as defined in Section 1(b)) then in effect, upon exercise of this Warrant (including
any Warrants to purchase Common Stock issued in exchange, transfer or replacement hereof, the “Warrant”), at
any time or times on or after the applicable Earning Date (as defined in Section 1(a)), but not after 11:59 p.m., New York time,
on the Expiration Date (as defined in Section 16), up to __,__ shares of fully paid and non-assessable shares of Common Stock
of the Company (the “Warrant Shares”), subject to adjustment as herein provided. Except as otherwise defined
herein, capitalized terms in this Warrant shall have the meanings set forth in Section 16. This Warrant has been issued in connection
with the Holder’s service to the Company.

 

    	 

     

    

 

1.
EXERCISE OF WARRANT.

 

(a)
Earning of Warrant Shares. One third of the Warrant Shares shall be available to vest and become exercisable on each [February
15 of each of the first three years following the Issuance Date] (each such date, an “Earning Date” and each
such third of the Warrant Shares in respect of an Earning Date, the “Eligible Warrant Shares”) based on the
metrics described below measured as of the December 31 most immediately preceding applicable Earning Date (each a “Measure
Date”) for the three calendar months up to and including the Measure Date (the “Measure Period”);
provided that in respect of any Earning Date the Issuance Date occurred on or before the start of the applicable Measure Period.
The vesting of the Warrant Shares on each Earning Date shall be based on the average number of monthly Organic Unique Visitors
(as defined in Section 15) the Website (as defined below) has received during the Measure Period, with the Warrant Shares vesting
at a rate of 3,333 shares for every one hundred thousand (100,000) Average Unique Visitors (as defined below); provided that on
any Earning Date only the applicable Eligible Warrant Shares may vest. The Company shall notify (the “Notice”)
the Publisher of the number of earned shares for each Earning Date no later than __ days following the applicable Measure Date.
The Notice shall state the number of monthly Organic Unique Visitors the Publisher has received in each month during the Measure
Period, the calculated monthly average for the Measure Period (the “Average Unique Visitors”), and the total
amount of Warrant Shares that will vest on each Vesting Date (the “Earned Shares”). All the Eligible Warrant
Shares that are not deemed as Earned Shares as of the applicable Earning Date shall be terminated and void as of such Earning
Date. In the event that the Publisher contract with the Company is terminated for any reason, then from and after such termination
no further Earning Dates shall occur and no further Warrant Shares shall vest and become exercisable. Notwithstanding anything
in this Warrant to the contrary, the aggregate number of shares of Common Stock issuable upon exercise of this Warrant shall not
exceed __,___.

 

(b)
Unfunded Warrant. The shares that may be issued on exercise of this Warrant, as of the Issuance Date, are not authorized
and available for issuance, therefore this Warrant is currently considered an unfunded warrant. The Holder agrees that, subject
to Section 1(a), no part of this Warrant may be exercised until the Company has filed an amendment to its Certificate of Incorporation
increasing its number of authorized shares of Common Stock to a sufficient number to permit the full exercise of this Warrant
and all other Warrants of like tenor.

 

(c)
Exercise Price. The exercise price of the Earned Shares shall be $_____ (the (“Exercise Price”), which
will be the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the date of this Warrant.

 

(d) Mechanics
of Exercise. Subject to the terms and conditions hereof (including the limitations set forth in Section 1(b)), the Earned
Shares may be exercised by the Holder on any day on or after the applicable Earning Date, in whole or in part, by delivery to
the Company of this Warrant along with a notice, in the form attached hereto as Exhibit A (the “Exercise
Notice”), of the Holder’s election to exercise this Warrant. Concurrent with the delivery of the Exercise
Notice, the Holder shall deliver payment to the Company of an amount equal to the Exercise Price multiplied by the number of
Earned Shares as to which this Warrant was so exercised (the “Aggregate Exercise Price”) in cash or via
wire transfer of immediately available funds if the Holder did not notify the Company in such Exercise Notice that the
exercise was made pursuant to a Cashless Exercise (as defined in Section 1(e)). Within a reasonable time after receipt of a
fully-completed and executed Exercise Notice, together with the Aggregate Exercise Price if applicable, the Company shall
transmit an acknowledgment of confirmation of receipt of the Exercise Notice, in the form attached hereto as Exhibit
B, to the Holder and the Company’s transfer agent (the “Transfer Agent”) to arrange the issuance
of the Warrant Shares to which the Holder is entitled by book entry, certificate delivery or DTC Fast Automated Securities
Transfer Program, as determined by the Company. Upon delivery of this Warrant, the executed Exercise Notice and payment of
the Aggregate Exercise Price if applicable, the Holder shall be deemed for all corporate purposes to have become the holder
of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date such Warrant
Shares are credited to the Holder’s DTC account. If this Warrant is submitted in connection with any exercise pursuant
to this Section and the number of Warrant Shares represented by this Warrant submitted for exercise is greater than the
number of Warrant Shares being acquired upon an exercise, then the Company shall issue and deliver to the Holder a new
Warrant (in accordance with Section 4(d)) representing the right to purchase the number of Warrant Shares purchasable
immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this Warrant
is exercised (taking into account any cashless exercise pursuant to Section 1(e)). No fractional shares of Common Stock are
to be issued upon the exercise of this Warrant, but rather the number of shares of Common Stock to be issued shall be rounded
to the nearest whole number.

 

 

 

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(e) Cashless
Exercise. Notwithstanding anything contained herein to the contrary (other than Section 1(f)), the Holder may, in its
sole discretion, exercise this Warrant in whole or in part and, in lieu of making the cash payment otherwise contemplated to
be made to the Company upon such exercise in payment of the Aggregate Exercise Price, elect instead to receive upon such
exercise the “Net Number” of shares of Common Stock determined according to the following formula (a
“Cashless Exercise”):

 

	 	Net
    Number = 	(A
    x B) - (A x C)	 
	 	 	B	 

 

For
purposes of the foregoing formula:

 

A=
the total number of shares with respect to which this Warrant is then being exercised.

 

B=
the Closing Sale Price on the Trading Day immediately preceding the date the Exercise Notice is executed and delivered to the
Company.

 

C=
the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.

 

(f)
Disputes. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the number
of Warrant Shares to be issued pursuant to the terms hereof, the Company shall issue to the Holder the number of Warrant Shares
that are not disputed and resolve such dispute in accordance with Section 12.

 

2.
ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF
WARRANT SHARES. In addition to the adjustments set forth in Section 1, the Exercise Price and number of Warrant Shares issuable
upon exercise of this Warrant are subject to adjustment from time to time as set forth in this Section 2.

 

(a) Stock
Dividends and Splits. Without limiting any provision of Section 2, if the Company, at any time on or after the date
hereof while this Warrant remains outstanding, (i) pays a stock dividend on one or more classes of its then outstanding
shares of Common Stock or otherwise makes a distribution on any class of capital stock that is payable in shares of Common
Stock, (ii) subdivides (by any stock split, stock dividend, recapitalization or otherwise) its then outstanding shares of
Common Stock into a larger number of shares or (iii) combines (by combination, reverse stock split or otherwise) its then
outstanding shares of Common Stock into a smaller number of shares, then in each such case the Exercise Price shall be
multiplied by a fraction of which the numerator shall be the number of shares of Common Stock outstanding immediately before
such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such
event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date
for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to
clause (ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or
combination.

 

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(b) Number
of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to paragraph (a) of this Section 2,
the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or decreased
proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the adjusted number of
Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment.

 

(c) Calculations.
All calculations under this Section 2 shall be made by rounding to the nearest cent or the nearest 1/100th of a
share, as applicable.

 

3.
WARRANT HOLDER NOT DEEMED A STOCKHOLDER.
Except as otherwise specifically provided herein, the Holder shall not be entitled to vote or receive dividends or be deemed the
holder of share capital of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon
the Holder, solely in its capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right
to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock,
consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise,
prior to the issuance to the Holder of the Warrant Shares which it is then entitled to receive upon the due exercise of this Warrant.

 

4.
REISSUANCE OF WARRANTS.

 

(a) Transfer
of Warrant. If this Warrant is to be transferred, the Holder shall surrender this Warrant to the Company, whereupon the
Company will issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 4(d)), registered in
the name of the transferee, representing the right to purchase the number of Warrant Shares being transferred by the Holder
and, if less than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in
accordance with Section 4(d)) to the Holder representing the right to purchase the number of Warrant Shares not being
transferred.

 

(b) Lost,
Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of this Warrant (as to which a written certification and the indemnification contemplated
below shall suffice as such evidence), and, in the case of loss, theft or destruction, of any indemnification undertaking by
the Holder to the Company in customary and reasonable form and, in the case of mutilation, upon surrender and cancellation of
this Warrant, the Company shall execute and deliver to the Holder a new Warrant (in accordance with Section 4(d))
representing the right to purchase the Warrant Shares then underlying this Warrant.

 

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(c) Exchangeable
for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office of
the Company, for a new Warrant or Warrants (in accordance with Section 4(d)) representing in the aggregate the right to
purchase the number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the right to
purchase such portion of such Warrant Shares as is designated by the Holder at the time of such surrender; provided, however,
no warrants for fractional shares of Common Stock shall be given.

 

(d) Issuance
of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such new
Warrant (i) shall be of like tenor with this Warrant, (ii) shall represent, as indicated on the face of such new Warrant, the
right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to
Section 4(a) or Section 4(c), the Warrant Shares designated by the Holder which, when added to the number of shares of Common
Stock underlying the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares
then underlying this Warrant), (iii) shall have an issuance date, as indicated on the face of such new Warrant which is the
same as the Issuance Date, and (iv) shall have the same rights and conditions as this Warrant.

 

5.
LOCK-UP PERIOD. The Holder agrees that
in the event this Warrant is exercised with respect to Earned Shares during the calendar year following the Earning Date on which
those Earned Shares were earned, then from the date of the issuance of such shares (the “Locked-Up Shares”)
through and including December 31 of such year (the “Lock-Up Period”), the Holder will not (i) offer, pledge,
sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right
or warrant to purchase, lend or otherwise transfer or dispose of his, her or its Locked-Up Shares, or (ii) enter into any swap
or other agreement, arrangement or transaction that transfers to another, in whole or in part, directly or indirectly, any of
the economic consequence of ownership of any of his, her or its Locked-Up Shares, whether any transaction described in clause
(i) or (ii) is to be settled by delivery of the Company’s Common Stock, other securities, in cash or otherwise, without
the prior written consent of the Company.

 

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6.
COMPLIANCE WITH THE SECURITIES ACT.

 

(a)
Agreement to Comply with the Securities Act; Legends. The Holder, by acceptance of this Warrant, agrees to comply in all
respects with the provisions of this Section 6 and the restrictive legend requirements set forth on the face of this Warrant and
further agrees that such Holder shall not offer, sell or otherwise dispose of this Warrant or any Warrant Shares to be issued
upon exercise hereof except under circumstances that will not result in a violation of the Securities Act of 1933, as amended
(the “Securities Act”). This Warrant and all Warrant Shares issued upon exercise of this Warrant (unless registered
under the Securities Act) shall be stamped or imprinted with a legend in substantially the following form (in addition to any
legends required by any stockholders agreement, proxy or applicable law):

 

“THIS
WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD,
PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED UNLESS (I) A REGISTRATION STATEMENT COVERING SUCH SHARES IS EFFECTIVE
UNDER THE ACT AND IS QUALIFIED UNDER APPLICABLE STATE AND FOREIGN LAW OR (II) THE TRANSACTION IS EXEMPT FROM THE REGISTRATION
AND PROSPECTUS DELIVERY REQUIREMENTS UNDER THE ACT AND THE QUALIFICATION REQUIREMENTS UNDER APPLICABLE STATE AND FOREIGN LAW AND,
IF THE CORPORATION REQUESTS, AN OPINION SATISFACTORY TO THE CORPORATION TO SUCH EFFECT HAS BEEN RENDERED BY COUNSEL OR (III) SUCH
SECURITIES ARE SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER THE ACT.

 

THE
SECURITIES ISSUABLE UPON THE EXERCISE OF THIS WARRANT ARE SUBJECT TO CERTAIN ADDITIONAL RESTRICTIONS ON TRANSFER SET FORTH IN
THIS WARRANT.”

 

(b)
Representations of the Holder. In connection with the issuance of this Warrant, the Holder specifically represents, as
of the date hereof, to the Company by acceptance of this Warrant as follows:

 

(i)
The Holder is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act.
The Holder is acquiring this Warrant and the Warrant Shares to be issued upon exercise hereof for investment for its own account
and not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant or the Warrant
Shares, except pursuant to sales registered or exempted under the Securities Act.

 

(ii)
The Holder understands and acknowledges that this Warrant and the Warrant Shares to be issued upon exercise hereof are “restricted
securities” under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not
involving a public offering and that, under such laws and applicable regulations, such securities may be resold without registration
under the Securities Act only in certain limited circumstances. In addition, the Holder represents that it is familiar with Rule
144 under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities
Act.

 

7.
NOTICES. The Company will give notice
to the Holders promptly upon each adjustment of the Exercise Price and the number of Warrant Shares. All notices, requests, consents,
claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when
delivered by hand; (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested);
(c) on the date sent by facsimile or e-mail of a PDF document (with confirmation of transmission) if sent during normal business
hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient; or (d) on the third
day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must
be sent to the respective parties at the addresses indicated below:

 

If
to the Company:

 

TheMaven,
Inc.

1500
Fourth Avenue, Suite 200, Seattle, WA 98101

Attention:
Chief Executive Officer

Email:
notices@maven.io

 

If
to a Holder, to its address, facsimile number or e-mail address set forth herein or on the books and records of the Company.

 

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8.
AMENDMENT AND WAIVER. Except as otherwise
provided herein, this Warrant may only be amended, modified or supplemented by an agreement in writing signed by each party hereto.
No waiver by the Company or the Holder of any of the provisions hereof shall be effective unless explicitly set forth in writing
and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure,
breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring
before or after that waiver. No failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from
this Warrant shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy,
power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power
or privilege.

 

9.
SEVERABILITY. If any provision of this
Warrant is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction, the
provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent
that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity
of the remaining provisions of this Warrant so long as this Warrant as so modified continues to express, without material change,
the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability
of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties
or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in
good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect
of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

10.
GOVERNING LAW. This Warrant shall be governed
by and construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation and
performance of this Warrant shall be governed by, the internal laws of the State of New York, without giving effect to any choice
of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the
application of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action
or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner
permitted by law. Nothing contained herein shall be deemed or operate to preclude either party from bringing suit or taking other
legal action against the other party in any other jurisdiction to enforce a judgment or other court ruling in favor of the such
party. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION
OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    	7

     

    

 

11.
CONSTRUCTION; HEADINGS. This Warrant shall
be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any Person as the drafter hereof.
The headings of this Warrant are for convenience of reference and shall not form part of, or affect the interpretation of, this
Warrant.

 

12.
DISPUTE RESOLUTION. In the case of a dispute
as to the determination of the Exercise Price, the Closing Sale Price or fair market value or the arithmetic calculation of the
Warrant Shares, as the case may be, the Company or the Holder (as the case may be) shall submit the disputed determinations or
arithmetic calculations (as the case may be) within two (2) Business Days after receipt of the applicable notice giving rise to
such dispute to the Company or the Holder (as the case may be). The Holder and the Company shall negotiate in good faith to resolve
the dispute.

 

13.
REMEDIES, BREACHES AND INJUNCTIVE RELIEF.
The remedies provided in this Warrant shall be cumulative and in addition to all other remedies available at law or in equity.
Each party acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the other party and that
the remedy at law for any such breach may be inadequate. Each party therefore agrees that, in the event of any such breach or
threatened breach, the other party shall be entitled, in addition to all other available remedies, to seek an injunction restraining
any breach, without the necessity of showing economic loss and without any bond or other security being required.

 

14.
TRANSFER. This Warrant may not be offered
for sale, sold, transferred or assigned without the consent of the Company, and will be subject to compliance with the Securities
Act and other applicable law. The issuance of shares and certificates for shares as contemplated hereby upon the exercise of this
Warrant shall be made without charge to the Holder or such shares for any issuance tax or other costs in respect thereof, provided
that the Company shall not be required to pay any tax (a) based upon the net income of the Holder or (b) that may be payable in
respect of any transfer involved in the issuance and delivery of any certificate in a name other than the Holder or its agent
on its behalf.

 

15.
REGISTRATION RIGHTS. The Holder shall
not have registration rights with respect to the Holder’s Warrant or Warrant Shares.

 

16.
CERTAIN DEFINITIONS. For purposes of this
Warrant, the following terms shall have the following meanings:

 

(a)
“Bloomberg” means Bloomberg, L.P.

 

    	8

     

    

 

(b)
“Business Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City
of New York are authorized or required by law to remain closed.

 

(c)
“Website” means the _____ web pages on “maven.io” (or successor websites) or otherwise operating
on the Company’s technology platform and associated mobile application(s), which are operated and/or controlled by Publisher.

 

(d)
“Closing Sale Price” means, for any security as of any date, the last closing trade price for such security
on the Principal Market, as reported by Bloomberg, or, if the Principal Market begins to operate on an extended hours basis and
does not designate the closing trade price, then the last trade price of such security prior to 4:00 p.m., New York time, as reported
by Bloomberg.

 

(e)
“Common Stock” means the Company’s shares of common stock, $0.01 par value per share.

 

(f)
“Expiration Date” means the earlier of (i) the fifth anniversary of the date of this Warrant and (ii) the date
that is 30 days after the termination for any reason of the agreement under which the Company ceases to host the Website.

 

(g)
“Organic Unique Visitor” is the number of unduplicated (counted only once) organic (not paid) visitors to the
Website during any calendar month, excluding bots or other non-human traffic. Unique Visitors shall be determined by Google Analytics,
or if Google Analytics is not then providing such service, such other, reputable, independent third party provider of such similar
services identified by the Company.

 

(h)
“Person” means an individual, a limited liability company, a partnership, a joint venture, a corporation, a
trust, an unincorporated organization, any other entity or a government or any department or agency thereof.

 

(i)
“Principal Market” means the a national securities exchange in the United States or a recognized United States
trading medium which provides daily reports of the prices at which securities are offered and traded.

 

(j)
“Trading Day” means any day on which the Common Stock is traded on the Principal Market.

 

    	9

     

    

  

IN
WITNESS WHEREOF, the Company has caused this Warrant to purchase Common Stock to be duly executed as of the Issuance Date
set out above.

 

	 	THEMAVEN,
    INC.
	 	 	                
	 	By:	 
	 	Name:
    	 
	 	Title:
    	 

 

    	10

     

    

 

EXHIBIT
A

 

EXERCISE
NOTICE

 

TO
BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS

WARRANT
TO PURCHASE COMMON STOCK

 

THEMAVEN,
INC.

 

The
undersigned holder hereby exercises the right to purchase _________________ of the shares of Common Stock (“Warrant Shares”)
of TheMaven, Inc., a Delaware corporation (the “Company”), evidenced by the Warrant to purchase Common Stock
(the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective meanings
set forth in the Warrant.

 

1.
Form of Exercise Price. The Holder intends that payment of the Exercise Price shall be made as:

 

		____________	a
                                         “Cash Exercise” with respect to _________________ Warrant Shares;
                                         and/or
	 	 	 
		____________	a
                                         “Cashless Exercise” with respect to _______________ Warrant Shares.

 

2.Payment
of Exercise Price. In the event that the Holder has elected a Cash Exercise with respect to some or all of the Warrant Shares
to be issued pursuant hereto, the Holder shall pay the Aggregate Exercise Price in the sum of $___________________ to the Company
in accordance with the terms of the Warrant.

 

3.Delivery
of Warrant Shares. The Company shall deliver to Holder, or its designee or agent as specified below, __________ Warrant Shares
in accordance with the terms of the Warrant. Delivery shall be made to Holder, or for its benefit, to the following address:

 

_______________________

_______________________

 

Date:
_______________ __, ______

 

	 	 
	Name
    of Registered Holder	 
	 	           	 
	By:	 	 
	Name:	 	 
	Title:	 	 

 

    	 

     

    

 

EXHIBIT
B

 

ACKNOWLEDGMENT

 

The
Company hereby acknowledges this Exercise Notice and hereby directs ______________ to issue the above indicated number of shares
of Common Stock in accordance with the Transfer Agent Instructions dated _________, 20__, from the Company and acknowledged and
agreed to by _______________.

 

	 	THEMAVEN,
    INC.
	 	 	                
	 	By:	 
	 	Name:	 
	 	Title:

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