Five year before the rest of Volume I, Norman Osborne is met by Nick Fury in a cafe. Fury informs Osborne that an espionage agent know as The Chameleon has stolen top secret files on the remnants of the super-soldier formula which created Captain America. Fury then hires Osborne to recreate said formula. Norman returns to Oscorp Industries and meets with Dr. Otto Octavious. Otto proceeds to ask of Osborne why he is forced to preside over science camp every year. He then informs Osborne that there was one talented boy at science camp, a Peter Parker. Norman requests Otto get started on recreating the super-soldier formula immediately.

Peter and Uncle Ben exit and ice cream store and Ben gives Peter a lesson in ethics. Upon hearing a woman in trouble he decides to follow the code he just passed onto Peter and help the women. She escapes but Ben is brutally beat by the thugs that were attempting to mug her. He is shot through the head. Peter had been observing from a distance but runs over to his Uncle screaming. The shooter shoots Peter in the leg but let's him live.