In the previous issue, the Vulture was seeking revenge on Spider-Man for the times he's been defeated in the past. However, in the process of trying to get the Vulture to join his gang, a boss leader named Mr. Morgan was humiliated by the Vulture, and so wants revenge on the Vulture. To achieve this, he's hired the Hitman to kill Spider-Man, thus stopping the Vulture from achieving his vengeance. The Vulture attacks the Hitman, as he can't let that happen. As the two fight, Spider-Man recovers some of his strength, and manages to get out of the building between attacking the Vulture and Hitman. The Hitman tries following, but the Vulture tries attacking him once more. The Hitman overcomes this by spraying him with some gas which causes the Vulture to fly off in pain. During his report to Mr. Morgan, the Hitman reveals that although he was unsuccessful in killing Spider-Man, he did manage to place a tracer on both him and the Vulture.
At a restaurant nearby which has been seen quite a bit in the last few issues, Flash Thompson and Mary Jane visit it, only to be turned down by the owner, once again insisting that Sha Shan doesn't work there. Meanwhile, Spider-Man returns to where he hid his civilian clothes to find that they've become soaked in the snow, and that the intense cold has frozen that. He heads home and is unlucky enough to find that he's out of clean clothes, and so starts boiling his wet clothes to defrost him. Whilst this is happening, Peter is visited by Flash and Mary Jane, who have come to see if Peter knows what they could do concerning the restaurant where Sha Shan apparently works. Peter has no ideas, and during his conversation loses track of what's happening to his defrosting clothes, which shrink astonishingly.
Watching Spider-Man's tracer's blip, the Hitman notices that it's been stationary for a while, and that Spider-Man must be settling in for the night. He then sets out to kill Spider-Man and complete his end of the contract. As he heads towards Spider-Man's location, he passes the Vulture, and shoots at him, planning to kill Spider-Man right in front of his eyes. As the Vulture chases the Hitman, who's still heading for Spider-Man's location, Peter hears the commotion just as Flash and Mary Jane leave. He changes to Spider-Man, and starts fighting the Vulture, with the Hitman attacking him whenever he slows down. At one point, it looks as though the Vulture will succeed in killing Spider-Man, and so the Hitman shoots in between the two. However, the shot grazes Spider-Man, and he's knocked off the crane he's on.
Spider-Man manages to shoot out a webline to save his life, but is seemingly unconscious. The Vulture flies towards him, planning to finish him off once and for all, to which the Hitman watches with glee. The Hitman plans to shoot Spider-Man just as the Vulture reaches him, stealing the Vulture's revenge right in front of his eyes. As he fires the bullet, Spider-Man suddenly reveals that he's not unconscious, and grabs the Vulture with his legs, using him to block the bullet. The bullet doesn't kill the Vulture, but it does short out his power pack, draining the necessary power needed to keep him flying. In the confusion, the Hitman manages to escape as he realises that he's failed.