After undergoing a grueling, deadly elimination competition at the Taskmaster's Academy, the survivor is named the new Spymaster. In order to graduate, Spymaster must steal the top Christmas ornament at Stark's party.
The Taskmaster is training a number of men in a contest to become Justin Hammer's new right hand man. The winner of that contest, Nathan Lemon, becomes the new Spymaster, but as part of his graduation is asked to steal a ornament from a party being held by Tony Stark. Spymaster acquires what he was after and after a fight with Iron Man is let go because Iron Man does not want to endanger the people there.