Form of Restricted Stock Unit Award Agreement



 Exhibit 10.2 
 REWARDS NETWORK INC. 
 RESTRICTED STOCK UNIT AWARD AGREEMENT 
 Rewards Network Inc., a Delaware corporation (the “Company”), hereby grants to
                     (the “Holder”), as of February 28, 2007 (the “Grant Date”), pursuant to the provisions of
the Company’s 2006 Long-Term Incentive Plan (the “Plan”), a restricted stock unit award (the “Award”) with respect to
                     shares of the Company’s Common Stock, $0.02 par value (“Stock”), upon and subject to the restrictions,
terms and conditions set forth below. Capitalized terms not defined herein shall have the meanings specified in the Plan. 
 1. Award
Subject to Acceptance of Agreement. The Award shall be null and void unless the Holder shall accept this Agreement by executing it in the space provided below and returning it to the Company. 
 2. Rights as a Stockholder. The Holder shall not be entitled to any privileges of ownership with respect to the shares of Stock subject to the
Award unless and until, and only to the extent, such shares become vested pursuant to Section 3 hereof and the Holder becomes a stockholder of record with respect to such shares. 
 3. Vesting of Shares Subject to Award. 
 3.1. Vesting Requirement. Except for the vesting of the Award upon termination following a Change in Control as provided in Section 7(f) of the Plan, the Award shall vest as follows: 
 Vesting of 75% of the Award based on EBITDA 
 If the Corporation achieves the 2007 EBITDA Performance Target (as defined below) the Award shall vest as follows: (i) on the first anniversary of the Grant Date with respect to 25% of the number of shares of
Stock subject to the Award, rounded up to the nearest whole share, (ii) on the second anniversary of the Grant Date with respect to an additional 25% of the number of shares of Stock subject to the Award, rounded down to the nearest whole share
and (iii) on the third anniversary of the Grant Date with respect to an additional 25% of the number of shares of Stock subject to the Award, rounded down to the nearest whole share. 
 If the Corporation does not achieve the 2007 EBITDA Performance Target, but achieves the 2008 Cumulative EBITDA Performance Target (as
defined below) the Award shall vest as follows: (i) on the second anniversary of the Grant Date with respect to 50% of the number of shares of Stock subject to the Award, rounded up to the nearest whole share and (ii) on the third
anniversary of the Grant Date with respect to an additional 25% of the number of shares of Stock subject to the Award, rounded down to the nearest whole share. 
 If the Corporation does not achieve the 2007 EBITDA Performance Target or 2008 Cumulative EBITDA Performance Target, but achieves the 2009
Cumulative EBITDA Performance Target (as defined below) the Award shall vest as follows: on the third anniversary of the Grant Date with respect to 75% of the number of shares of Stock subject to the Award, rounded up to the nearest whole share.








 If the Corporation does not achieve the 2007 EBITDA Performance Target, 2008 Cumulative
EBITDA Performance Target or the 2009 Cumulative EBITDA Performance Target, the Holder shall forfeit all rights with respect to 75% of the shares of Stock subject to the Award and all such unvested shares of Stock subject to the Award shall be
cancelled by the Company. 
 Vesting of 25% of the Award based on Net Revenue 
 If the Corporation achieves the 2007 Net Revenue Performance Target (as defined below) the Award shall vest as follows: (i) on the
first anniversary of the Grant Date with respect to 8-1/3% of the number of shares of Stock subject to the Award, rounded up to the nearest whole share, (ii) on the second anniversary of the Grant Date with respect to an additional 8-1/3% of
the number of shares of Stock subject to the Award, rounded down to the nearest whole share and (iii) on the third anniversary of the Grant Date with respect to an additional 8-1/3% of the number of shares of Stock subject to the Award, rounded
down to the nearest whole share. 
 If the Corporation does not achieve the 2007 Net Revenue Performance Target, but achieves
the 2008 Cumulative Net Revenue Performance Target (as defined below) the Award shall vest as follows: (i) on the second anniversary of the Grant Date with respect to 16-2/3% of the number of shares of Stock subject to the Award, rounded up to
the nearest whole share and (ii) on the third anniversary of the Grant Date with respect to an additional 8-1/3% of the number of shares of Stock subject to the Award, rounded down to the nearest whole share. 
 If the Corporation does not achieve the 2007 Net Revenue Performance Target or 2008 Cumulative Net Revenue Performance Target, but
achieves the 2009 Cumulative Net Revenue Performance Target (as defined below) the Award shall vest as follows: on the third anniversary of the Grant Date with respect to 25% of the number of shares of Stock subject to the Award, rounded up to the
nearest whole share. 
 If the Corporation does not achieve the 2007 Net Revenue Performance Target, 2008 Cumulative Net
Revenue Performance Target or the 2009 Cumulative Net Revenue Performance Target, the Holder shall forfeit all rights with respect to 25% of the shares of Stock subject to the Award and all such unvested shares of Stock subject to the Award shall be
cancelled by the Company. 
 Cancellation of unvested Award upon termination 
 If the Holder’s service with the Corporation terminates for any reason (except as provided in Section 7(f) of the Plan), the
Holder shall forfeit all rights with respect to the shares of Stock which are not vested as of the effective date of the Holder’s termination of service and such unvested portion of the Award shall be cancelled by the Company. 
 3.2. Performance Targets. “EBITDA” means earnings before interest, income taxes, depreciation and amortization. For purposes of
this Award, the Corporation’s EBITDA, including unusual and non-recurring gains and losses that may be excluded from 
  

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EBITDA, will be determined by the Corporation in its sole discretion, with the Committee making the final determination, and such determination will be
final, binding on Holder and not subject to review. 
 “2007 EBITDA Performance Target” means the Corporation
achieving an amount of EBITDA in 2007 as determined by the Corporation in its sole discretion. The Corporation shall determine the 2007 Performance Target and communicate it to Holder during the first quarter of 2007. 
 “2008 Cumulative EBITDA Performance Target” means the Corporation achieving an aggregate amount of EBITDA in 2007 and
2008 as determined by the Corporation in its sole discretion. The Corporation shall determine the 2008 Cumulative EBITDA Performance Target, if necessary, and communicate it to Holder during the first quarter of 2008. 
 “2009 Cumulative EBITDA Performance Target” means the Corporation achieving an aggregate amount of EBITDA in 2007, 2008
and 2009 as determined by the Corporation in its sole discretion. The Corporation shall determine the 2009 Cumulative EBITDA Performance Target, if necessary, and communicate it to Holder during the first quarter of 2009. 
 “Net Revenue” means sales, less cost of sales, provision for losses and member benefits. For purposes of this Award, the
Corporation’s Net Revenues will be determined by the Corporation in its sole discretion, with the Committee making the final determination, and such determination will be final, binding on Holder and not subject to review. 
 “2007 Net Revenue Performance Target” means the Corporation achieving an amount of Net Revenue in 2007 as determined by
the Corporation in its sole discretion. The Corporation shall determine the 2007 Net Revenue Performance Target and communicate it to Holder during the first quarter of 2007. 
 “2008 Cumulative Net Revenue Performance Target” means the Corporation achieving an aggregate amount of Net Revenue in
2007 and 2008 as determined by the Corporation in its sole discretion. The Corporation shall determine the 2008 Cumulative Net Revenue Performance Target, if necessary, and communicate it to Holder during the first quarter of 2008. 
 “2009 Cumulative Net Revenue Performance Target” means the Corporation achieving an aggregate amount of Net Revenue in
2007, 2008 and 2009 as determined by the Corporation in its sole discretion. The Corporation shall determine the 2009 Cumulative Net Revenue Performance Target, if necessary, and communicate it to Holder during the first quarter of 2009. 

4. Termination of Award. In the event that the Holder shall forfeit all or a portion of the shares of Stock subject to the Award, the Holder
shall, upon the Company’s request, promptly return this Agreement to the Company for cancellation. Such cancellation shall be effective regardless of whether the Holder returns this Agreement. 
  

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 5. Additional Terms and Conditions of Award. 
 5.1. Nontransferability of Award. The Award is not transferable by the Holder except by will or the laws of descent and distribution (or to a
designated Beneficiary in the event of the Holder’s death), provided, however, that with the written consent of the Committee the Award may be transferred to one or more Beneficiaries during the lifetime of the Holder in connection with the
Holder’s estate planning, consistent with the registration of the offer and sale of Stock on Form S-8 or Form S-3 or a successor registration form of the Securities and Exchange Commission. The Award may not be pledged, mortgaged, hypothecated
or otherwise encumbered and shall not be subject to the claims of creditors. 
 5.2. Investment Representation. The Holder hereby
represents and covenants that (a) any share of Stock acquired upon the vesting of the Award will be acquired for investment and not with a view to the distribution thereof within the meaning of the Securities Act of 1933, as amended (the
“Securities Act”), unless such acquisition has been registered under the Securities Act and any applicable state securities law; (b) any subsequent sale of any such shares shall be made either pursuant to an effective registration
statement under the Securities Act and any applicable state securities laws, or pursuant to an exemption from registration under the Securities Act and such state securities laws; and (c) if requested by the Company, the Holder shall submit a
written statement, in form satisfactory to the Company, to the effect that such representation (x) is true and correct as of the date of acquisition of any shares hereunder or (y) is true and correct as of the date of any sale of any such
shares, as applicable. As a further condition precedent to the delivery to the Holder of any shares subject to the Award, the Holder shall comply with all regulations and requirements of any regulatory authority having control of or supervision over
the issuance of the shares and, in connection therewith, shall execute any documents which the Board or any committee authorized by the Board shall in its sole discretion deem necessary or advisable. 
 5.3. Adjustment. In the event that the Committee shall determine that any dividend or other distribution (whether in the form of cash, Stock or
other property), recapitalization, forward or reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase or share exchange, or other similar corporate transaction or event, affects the Stock such that an adjustment is
appropriate to prevent dilution or enlargement of the rights of the Holder under the Award, then the Committee shall, in such manner as it may deem equitable, adjust the number and class of securities subject to the Award. In addition, the Committee
is authorized to make adjustments in the performance criteria set forth in Section 3.2 in recognition of unusual or nonrecurring events (including, without limitation, events described in the preceding sentence) affecting the Company or any
subsidiary or the financial statements of the Company or any subsidiary, or in response to changes in applicable laws, regulations or accounting principles. The decision of the Committee regarding any such adjustment shall be final, binding and
conclusive. 
 5.4. Compliance with Applicable Law. The Award is subject to the condition that if the listing, registration or
qualification of the shares subject to the Award upon any securities exchange or under any law, or the consent or approval of any governmental body, or the taking of any other action is necessary or desirable as a condition of, or in connection
with, the vesting or delivery of shares hereunder, the shares of Stock subject to the Award shall not vest or be delivered, in whole or in part, unless such listing, registration, qualification, consent or approval shall have been effected or
obtained, free of any conditions not acceptable to the Company. The Company agrees to use reasonable efforts to effect or obtain any such listing, registration, qualification, consent or approval. 
  

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 5.5. Delivery of Certificates. (a) Except to the extent the Holder makes an effective
deferral election pursuant to Section 5.5(b), as soon as practicable after the vesting of the Award, in whole or in part, the Company shall deliver or cause to be delivered one or more certificates issued in the Holder’s name (or such
other name as is acceptable to the Company and designated in writing by the Holder) representing the number of vested shares. The Company shall pay all original issue or transfer taxes and all fees and expenses incident to such delivery. 

(b) Not later than June 30, 2007, the Holder may submit an election, on a form and pursuant to procedures prescribed by the Company, to defer the
receipt of such shares, to the extent and effective upon the date they thereafter become vested, to a date specified in such election. As of the date such shares become vested, the Holder’s right to receive such deferred shares shall be
credited to a bookkeeping account maintained by the Company, which shall be further credited with dividend equivalents equal to the dividends that would have been paid on an equal number of shares of Common Stock and payable to the Holder in cash at
the same time the deferred shares are issued to the Holder. The Company shall not be required to fund, or otherwise segregate assets to be used for payment of Shares deferred pursuant to this Section 5.5(b). Notwithstanding the foregoing, the
Company, in the discretion of the Board, may maintain a grantor trust (a “Trust”) to hold assets to be used for payment of such deferred shares. The assets of the Trust shall remain the assets of the Company subject to the claims of its
general creditors. Any payments by a Trust of benefits provided to the Holder shall be considered payment by the Company and shall discharge the Company of any further liability for delivery of such shares. 
 5.6. Award Confers No Rights to Continued Employment. In no event shall the granting of the Award or its acceptance by the Holder give or be
deemed to give the Holder any right to continued employment by the Corporation. 
 5.7. Decisions of Board or Committee. The Board or
the Committee shall have the right to resolve all questions which may arise in connection with the Award. Any interpretation, determination or other action made or taken by the Board or the Committee regarding the Plan or this Agreement shall be
final, binding and conclusive, including, without limitation, determining whether the Corporation achieved the 2007 EBITDA Performance Target, the 2008 Cumulative EBITDA Performance Target, the 2009 Cumulative EBITDA Performance Target, the 2007 Net
Revenue Performance Target, the 2008 Cumulative Net Revenue Performance Target or the 2009 Cumulative Net Revenue Performance Target. 
 5.8.
Company to Reserve Shares. The Company shall at all times prior to the cancellation of the Award reserve and keep available, either in its treasury or out of it authorized but unissued shares of Stock, the full number of unvested shares
subject to the Award from time to time. 
 5.9. Agreement Subject to the Plan. This Agreement is subject to the provisions of the Plan
and shall be interpreted in accordance therewith. The Holder hereby acknowledges receipt of a copy of the Plan. 
  

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 6. Miscellaneous Provisions. 
 6.1. Meaning of Certain Terms. As used herein, the term “vest” shall mean no longer subject to forfeiture. 
 6.2. Successors. This Agreement shall be binding upon and inure to the benefit of any successor or successors of the Company and any person or
persons who shall, upon the death of the Holder, acquire any rights hereunder in accordance with this Agreement or the Plan. 
 6.3.
Notices. All notices, requests or other communications provided for in this Agreement shall be made, if to the Company, to Rewards Network Inc., Attention: General Counsel, Two North Riverside Plaza, Chicago, Illinois 60606, and if to the
Holder, to the last known address contained in the records of the Company. All notices, requests or other communications provided for in this Agreement shall be made in writing either (a) by personal delivery to the party entitled thereto,
(b) by electronic mail or facsimile with confirmation of receipt, (c) by mailing in the United States mails to the last known address of the party entitled thereto or (d) by express courier service. The notice, request or other
communication shall be deemed to be received upon personal delivery, upon confirmation of receipt of electronic mail or facsimile transmission, or upon receipt by the party entitled thereto if by United States mail or express courier service;
provided, however, that if a notice, request or other communication is not received during regular business hours, it shall be deemed to be received on the next succeeding business day of the Company. 
 6.4. Governing Law. This Agreement, the Award and all determinations made and actions taken pursuant hereto and thereto, to the extent not
otherwise governed by the laws of the United States, shall be governed by the laws of the State of Delaware and construed in accordance therewith without giving effect to conflicts of laws principles. 
 6.5. Counterparts. This Agreement may be executed in two counterparts each of which shall be deemed an original and both of which together shall
constitute one and the same instrument. 
  

					
	 	 	 REWARDS NETWORK INC.

			
		 	By:	 	  

		 	Name:	 	Ronald L. Blake
		 	Title:	 	President and Chief Executive Officer
		
	 Accepted this      day of March, 2007.
	 	
			
	  
	 		 	
	 Holder
	 		 	

  

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