Document:

Amendment No. 2 to the Non-Employee Director Awards Program

 Exhibit 10.18 
 AMENDMENT NUMBER TWO 
 TO THE 
 REWARDS NETWORK INC. 
 2006 NON-EMPLOYEE DIRECTOR AWARDS PROGRAM

 WHEREAS, Rewards Network Inc. (the “Corporation”) has heretofore adopted and maintains the Rewards Network Inc. 2006
Non-Employee Director Awards Program (the “Program”); and 
 WHEREAS, the Corporation desires to amend the Program to comply
with final regulations issued under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 
 NOW,
THEREFORE, pursuant to the power of amendment contained in Section 8.3 of the Program, the Program is hereby amended as follows, effective as of the date hereof: 
 1. Sections 6.1 and 6.2 of the Program are hereby amended to read in their entirety as follows: 
 Section 6.1. Time and Method of Payment. Distribution of a Non-Employee Director’s Deferral Account shall be made in a single distribution or in installments as elected by the Non-Employee Director in the initial Deferral
Election submitted by such Non-Employee Director under the Program; provided, however, that an election made by each Non-Employee Director prior to December 31, 2006 shall apply as the initial payment election under the Program. If a
Non-Employee Director’s Deferral Account is payable in a single distribution, the distribution shall be made within 30 days after the first day of the Program Year following the Termination Date (the “Distribution Date”). If a
Non-Employee Director’s Deferral Account is distributed in installments, then the Non-Employee Director’s Deferral Account shall be distributed in substantially equal annual installments over the period, not longer than 10 years, as
elected by the Non-Employee Director, and commencing as of the Distribution Date. 
 Section 6.2. Change in Payment
Election. A Non-Employee Director may elect to change either or both of the Distribution Date and the method of distribution in accordance with procedures prescribed by the Board; provided that (a) any such election shall not be effective
until 12 months after the date it is submitted by the Non-Employee Director, (b) any such election must be submitted at least 12 months 

 
prior to the previously scheduled Distribution Date and (c) any such election must provide for a new Distribution Date that is at least five years later
than the previously scheduled Distribution Date. In accordance with, and to the extent permitted by, the transition rule set forth in IRS Notice 2005-1, Q&A-19(c), and extended in the regulations under Section 409A of the Code and IRS
Notice 2007-86, which permits participants in deferred compensation plans to change the date on which deferred compensation is payable, (i) a Non-Employee Director may elect prior to January 1, 2008 to change the method of distribution of
his or her Deferral Account; provided that such election shall not apply to amounts that prior to such change would be payable prior to January 1, 2008 and shall not cause any amount to become payable prior to January 1, 2008, and
(ii) a Non-Employee Director may elect prior to January 1, 2009 to change the method of distribution of his or her Deferral Account; provided that such election shall not apply to amounts that prior to such change would be payable prior to
January 1, 2009 and shall not cause any amount to become payable prior to January 1, 2009. 
 IN WITNESS WHEREOF, the
Corporation has caused this instrument to be executed by its duly authorized officer on this 31st day of December, 2008. 
  

			
	Rewards Network Inc.
		
	By:	 	 /s/ Ronald L. Blake

  

 2Amendment No. 1 to Employment Agreement

 Exhibit 10.23 
 AMENDMENT NUMBER ONE TO 
 EMPLOYMENT AGREEMENT 
 WHEREAS, Rewards Network Inc. (the “Corporation”) and Ronald L. Blake (the “Executive”) have heretofore entered into an
Employment Agreement dated as of September 13, 2005 (the “Agreement”); and 
 WHEREAS, the Corporation and the
Executive desire to amend the Agreement to comply with final regulations issued under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 
 NOW, THEREFORE, pursuant to Section 21 of the Agreement, the Agreement is hereby amended as follows, effective as of January 1, 2009:

 1. Section 3(b) of the Agreement is hereby amended by adding the following sentence at the end thereof: 
 The annual bonus payable with respect to any fiscal year shall be paid within 2 1/2 months after the end of such fiscal year. 
 2. Section 3(e) of the Agreement is hereby amended by inserting the phrase “in accordance with Section 24” immediately after the phrase “reimburse the Executive,” where it appears
therein. 
 3. Section 4(a) of the Agreement is hereby amended by adding the following sentence at the end thereof: 
 The payments described in clauses (i), (ii) and (iii) above shall be paid not later than
March 15th of the year following the year in which the Executive’s death occurs, except to the extent the timing of such payment is
otherwise governed by the terms of an applicable plan, program or arrangement of the Corporation. 

 4. Section 4(b) of the Agreement is hereby amended by adding the following sentence at the end
thereof: 
 The payments described in clauses (i), (ii) and (iii) above shall
be paid not later than March 15th of the year following the year in which the Executive’s employment terminates, except to the extent the
timing of such payment is otherwise governed by the terms of an applicable plan, program or arrangement of the Corporation. 
 5.
Section 4(d) of the Agreement is hereby amended by adding the following to the end of clause (iv) in the second sentence thereof: 
 “, but in no event later than the date on which such options would have expired if the Executive had remained employed during such 90-day period 
 6. Section 4(f) of the Agreement is hereby amended by adding the following to the end of clause (iv) in the second sentence thereof: 
 “, but in no event later than the date on which such options would have expired if the Executive had remained employed during such 90-day period

 7. Section 4(f) of the Agreement is hereby amended by deleting the phrase “an isolated, insubstantial or inadvertent action or
failure which is remedied by the Corporation within 30 days after receipt of such notice,” and inserting in its place the phrase “an action or failure which is remedied by the Corporation within 90 days after receipt of such notice.”

 8. Section 4(h) of the Agreement is hereby amended by deleting the proviso where it appears therein, and by inserting in its place
the following proviso: 
 “provided such release (A) is executed and delivered to the Corporation within 45 days after the
date of the Executive’s separation from service and (B) is not 

  

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revoked by the Executive (or the Executive’s executor or other legal representative in the case of the Executive’s death or disability) within the
revocation period, if any (not to exceed seven days), made available by the Corporation with respect to such release.” 
 9. The
Agreement is hereby amended by adding the following new Section 24 at the end thereof: 
 24. Section 409A.
This Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and shall be interpreted and construed consistently with such intent. The payments to the
Executive pursuant to this Agreement are also intended to be exempt from Section 409A of the Code to the maximum extent possible, under either the separation pay exemption pursuant to Treasury regulation §1.409A-1(b)(9)(iii) or as
short-term deferrals pursuant to Treasury regulation §1.409A-1(b)(4). In the event the terms of this Agreement would subject the Executive to taxes or penalties under Section 409A of the Code (“409A Penalties”), the Corporation
and the Executive shall cooperate diligently to amend the terms of the Agreement to avoid such 409A Penalties, to the extent possible. To the extent any amounts under this Agreement are payable by reference to the Executive’s “termination
of employment,” such term shall be deemed to refer to the Executive’s “separation from service,” within the meaning of Section 409A of the Code. Notwithstanding any other provision in this Agreement, if the Executive is a
“specified employee,” as defined in Section 409A of the Code, as of the date of the Executive’s separation from service, then to the extent any amount payable under this Agreement (i) constitutes the payment of nonqualified
deferred compensation, within the meaning of Section 409A of the Code, (ii) is payable upon the Executive’s separation from service and (iii) under the terms of this Agreement would be payable prior to the six-month anniversary
of the Executive’s separation from service, such payment shall be delayed until the earlier to occur of (a) the six-month anniversary of the separation from service or (b) the date of the Executive’s death. Any reimbursement
payable to the Executive pursuant to this Agreement shall be conditioned on the submission by the Executive of all expense reports reasonably required by the Corporation under any applicable expense reimbursement policy, and shall be paid to the
Executive promptly following receipt of such expense reports, but in no event later than the last day of the calendar year following the calendar year in which the Executive incurred the reimbursable expense. Any amount of expenses eligible for
reimbursement, or in-kind benefit provided, during a calendar year shall not affect the amount of expenses eligible for reimbursement, or in-kind benefit to be provided, during any other calendar year. The right to any reimbursement or in-kind
benefit pursuant to this Agreement shall not be subject to liquidation or exchange for any other benefit. 
  

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 IN WITNESS WHEREOF, the Corporation has caused this instrument to be executed by its duly
authorized officer and the Executive has executed this instrument as of this 31st day of December, 2008. 
  

			
	Rewards Network Inc.
		
	By:	 	 /s/ Roya Behnia

		
		 	 /s/ Ronald L. Blake

		 	Executive

  

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