Document:

EX-10.7

 Exhibit 10.7 
  

 
  

 2018 Bonus Plan- US 

Overview 
  

The Cardlytics Bonus Plan (“Bonus Plan”) rewards employees for helping Cardlytics (“Company”) reach our corporate goals and for
employees’ personal performance. This document provides details on the 2018 Bonus Plan. If you have additional questions, please speak with your manager or People Operations. 

Bonus Potential 
  

Your bonus potential is a percentage (%) of your annualized base salary. For each bonus period (either a quarter or the year), your bonus potential is based on
your base salary at the end of that period. Your bonus % is based upon your level and will be communicated to you by your manager. Your bonus % can also be found in Namely. 

Bonus Components 
  

Your bonus consists of two components: corporate and personal. The weight of each of these components depends upon your level. 

 
 

 
 Payout 
  

 

	 	•	 	Corporate component 

  

	 	•	 	Paid out quarterly based upon Company performance on two metrics 

  

	 	•	 	Typically paid out within 45 days of the end of each quarter 

  

	 	•	 	Personal component 

  

	 	•	 	Paid out annually based upon 2018 personal performance rating 

  

	 	•	 	Typically paid out within 60 days of the end of the year, but may be up to 90 days 

  

	 	•	 	The company must meet a minimum performance threshold for personal bonus to be paid 

  
 Cardlytics 2018 Bonus
Plan- US 

 

 
  

 Corporate Component 

 
 The corporate component of the bonus is paid out based
upon two metrics: 
  

	 	1.	Revenue 

  

	 	2.	Adjusted EBITDA 

 Each metric makes up 50% of the quarterly bonus potential. The goal for each metric will be
communicated at the beginning of the quarter. 
 Each metric is paid out independently at the following levels: 

 

	 	•	 	Under 90% of goal: 0% payout 

  

	 	•	 	90-99% of goal: 50% payout 

  

	 	•	 	100% of goal: 100% payout 

  

	 	•	 	Over 100% of goal: % for % payout, capped at 125% 

 Example: If the company hits 95% of Revenue and hits
100% of Adjusted EBITDA, then the Revenue portion will pay out at 50% and the Adjusted EBITDA portion at 100%. 
 Personal Component 

 
 The personal component of bonus is paid out based on
each employee’s performance rating for 2018 at the following levels: 
  

	 	•	 	Superstar: 110% payout 

  

	 	•	 	Achiever Plus: 105% payout 

  

	 	•	 	Achiever: 100% payout 

  

	 	•	 	Growing: 70% payout 

  

	 	•	 	Opportunity: 0% payout 

 The Company must hit at least 85% of the annual target for both metrics to
trigger personal payout. 
 C-Level/SVP 

 
 For
C-Level/SVP bonus plans, 20% of the employee’s target is paid out each quarter based upon quarterly corporate performance, and 20% is paid out annually based on annual corporate performance. Exec annual
component paid out just like the quarterly:     
  

	 	•	 	90-99% of goal: 50% payout 

  

	 	•	 	100% of goal: 100% payout 

  

	 	•	 	Over 100% of goal: % for % payout, capped at 125% 

  
 Cardlytics 2018 Bonus
Plan- US 

 

 
  

 Fine Print 

 
  

	 	•	 	Regular, full-time employees are eligible to participate 

  

	 	•	 	Employees hired during a quarter will be eligible for a pro-rated bonus for the quarter in which he/she was hired 

 

	 	•	 	Employees hired between January 1, 2018 and October 1, 2018 will be eligible for a pro-rated annual bonus; employees hired after October 1, 2018 will not be
eligible for any annual portion of the bonus but will be eligible for a pro-rated Q4 corporate bonus 

  

	 	•	 	Employees who switch from the bonus plan to a commission plan, or vice versa, will be eligible for pro-rated participation in the bonus plan based on the portion of the year
he/she was bonus eligible 

  

	 	•	 	Employees are not eligible to participate in a commission plan and the bonus plan simultaneously. Commissioned employees will only be eligible for incentive compensation through his/her commission plan

  

	 	•	 	You must be an active employee of Cardlytics on the date the bonus is paid in order to be eligible; participants who voluntarily resign prior to the bonus payment date may not be eligible for payment 

 

	 	•	 	The Bonus Plan, its guidelines and your participation are all subject to modification or termination at any time at the sole discretion of the Company 

 

	 	•	 	People Operations and Finance calculate bonus payments and their interpretations of the plan are final in all respects 

  

	 	•	 	Quarterly payments will typically be made 45 days after the end of the quarter, but will be no later than 60 days after the end of the quarter 

 

	 	•	 	Annual payments will typically be made 60 days after the end of the year, but will be made no later than 90 days after the end of the year 

 

	 	•	 	All bonus payments are subject to applicable federal, state and local tax withholdings 

  

	 	•	 	This plan does not create a contract of employment or a contract for pay or benefits 

  
 Cardlytics 2018 Bonus
Plan- USEX-10.11

 Exhibit 10.11 

AMENDED AND RESTATED SEPARATION PAY AGREEMENT 

This Amended and Restated Separation Pay Agreement (the “Agreement”) by and between Cardlytics, Inc. (the “Company”), and
                     (“You” or “Your”) (collectively, the “Parties”), is entered into and effective as of
            , 201     (the “Effective Date”). 

WHEREAS, You are currently employed by the Company; 

WHEREAS, the Company and You have agreed to certain payment obligations upon termination of Your employment Without Cause (as defined below)
or Your resignation for Good Reason (as defined below) under certain conditions set forth below, and the Parties desire to express the terms and conditions in this Agreement. 

NOW, THEREFORE, in consideration of the Company’s agreement to continue to employ You and in further consideration of the mutual
agreements set forth herein, it is agreed: 
 1. Termination of Offer Letter/Agreements. The Parties acknowledge and agree that, effective as of the
Effective Date, any and all offer letters, agreements, clauses, or policies between You and the Company relating to Your severance or separation pay shall be terminated in their entirety. You release and discharge the Company from any and all claims
or liability, whether known or unknown, arising out of or relating to any such offer letters, agreements, clauses, or policies between You and the Company. 

2. At-will Employment. This Agreement does not create a contract of employment. Your employment relationship
with the Company is at-will. This means that at either Your option or the Company’s option, Your employment may be terminated at any time, with or without cause, and for any other reason, with or without
notice. This Agreement does not alter the at-will employment relationship. 
 3. Termination. As an at-will employee, Your employment may be terminated at any time, and for any or no reason, including any of the following events: 

(a) Mutual written agreement between You and the Company at any time; 

(b) Your death; 
 (c) Your
disability which renders You unable to perform the essential functions of Your job even with reasonable accommodation, as determined by the Company in its sole and absolute discretion; 

(d) For Cause. For Cause shall mean a termination by the Company because of any one of the following events, regardless of whether the evidence
used to support a for Cause termination is acquired before or after the date Your employment is terminated by the Company: (i) Your insubordination; (ii) Your breach of any agreement with the Company; (iii) Your breach of Your
fiduciary duty to the Company; (iv) any act or omission by You which injures, or is likely to injure, the Company or the business reputation of the Company; (v) Your dishonesty, fraud, negligence, or misconduct; (vi)Your failure to
(1) satisfactorily perform Your duties under this Agreement, (2) follow the direction of any individual to whom You report, (3) abide by the policies, procedures, and rules of the Company, or (4) abide by laws applicable to You
in Your capacity as an employee, executive, or officer of the Company; or (vii) Your arrest, indictment for, conviction of, or entry of a plea of guilty or no contest to (a) a felony; or (b) a crime involving moral turpitude; 

(e) Your resignation for Good Reason. Good Reason shall exist if (i) the Company, without Your written consent, (a) materially
reduces Your then current authority, duties, or responsibilities, (b) materially reduces Your then current base salary, (c) commits a material breach of any agreement with You, or (d) materially changes the geographic location at
which You must perform services for the Company; (ii) You provide written notice to the Company of any such action within ninety (90) days of the date on which such action first occurs and provide the Company with thirty (30) days to
remedy such action (the “Cure Period”); (iii) the Company fails to remedy such action within the Cure Period; and (iv) You resign within thirty (30) days of the expiration of the Cure Period. Good Reason shall not include
any isolated, insubstantial, or inadvertent action that (a) is not taken in bad faith, and (b) is remedied by the Company within the Cure Period; 

(f) Your resignation without Good Reason; or 

(g) Without Cause. Without Cause means any termination by the Company which is not defined in subsections (a) through (f) above. 

4. Post-Termination Payment Obligations. If the Company terminates Your employment Without Cause, or You resign for Good Reason, then the Company shall: 

  

					
		  	- 1 -	  	
	  
 Employee’s
Initials
	  		  	9777098(GA)

 (a) Pay You all accrued but unpaid wages through the date Your employment terminates (the
“Termination Date”), based on Your then current base salary; and 
 (b) Following Your separation from service, (a) pay You a
separation payment equal to twelve (12) months of Your then current base salary, minus all applicable withholdings, including taxes and Social Security (the “Separation Payment”). The Separation Payment shall be divided and paid over
a period of twelve (12) months in accordance with the Company’s normal payroll schedule as of the Effective Date, beginning with the first such date that is at least sixty (60) days after the date of Your separation, provided that You
have complied with the Conditions set forth below as of such date; (b) pay You a pro-rated portion of Your annual bonus, if any, that would have been payable to You for such calendar year had You remained
employed by the Company for the entire calendar year, calculated by multiplying the bonus by a fraction, the numerator of which is the number of days in the calendar year of Your termination that precede the date of Your termination, and the
denominator of which is 365, all as determined in the sole and absolute discretion of the Company (the “Bonus”). The Bonus, if any, shall be subject to all applicable withholdings, and shall be paid on the same date the Company pays all
such other bonuses for such calendar year, provided that You have complied with the Conditions set forth below as of such date; and (c) subject to (A) Your timely election of continuation coverage under the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (“COBRA”), for You, (B) Your continued copayment of premiums at the same level and cost to You as if You were an employee of the Company (excluding, for purposes of calculating cost, an
employee’s ability to pay premiums with pre-tax dollars), and (C) Your continued compliance with the obligations in this Agreement, provide continued participation by You in the Company’s group
health plan (to the extent permitted under applicable law and the terms of such plan) for a period of twelve (12) months at the Company’s expense; provided that You are eligible and remain eligible for COBRA coverage; and provided,
further, that in the event that You obtain other employment that offers group health benefits, such payments (but not the ability to continue COBRA coverage at Your sole expense) shall immediately cease when You become eligible to participate in
such group health benefit plan. Except as set forth in this subsection, the Company shall have no other obligations to You, including under any provision of this Agreement or any other agreement, Company policy, or otherwise. The Company’s
obligation to pay You as set forth above shall be conditioned upon the following: 
 (i) Your execution of a Release Agreement in a form
prepared by the Company, which has become irrevocable within the sixty (60) day period after Your separation, and which includes, but is not limited to, Your release of the Company from any and all liability and claims of any kind; and 

(ii) Your compliance with all post-termination obligations to the Company to which You may be subject, including, but not limited to, any
restrictive covenants 
 (subclauses (i) and (ii) above, the “Conditions”). If You do not execute an effective Release Agreement as set forth
above, the Company shall have no obligation to pay the payments set forth above. The Company’s obligation to pay the payments set forth above shall terminate immediately upon any breach by You of any post-termination obligations to which You
are subject. 
 5. Set-Off. If You have any outstanding obligations to the Company upon the termination of
Your employment for any reason, You hereby authorize the Company to deduct any amounts owed to the Company from Your final paycheck and/or any amounts that would otherwise be due to You, including under this Agreement, to the extent permitted by
law, and except to the extent such amounts constitute “deferred compensation” under Section 409A of the Internal Revenue Code (the “Code”). 

6. Section 409A Compliance. The Parties agree that this Agreement shall be interpreted and administered in a manner so that any amount or benefit
payable hereunder shall be paid or provided in a manner that is exempt from, or, if that is not possible, then compliant with the requirements of Section 409A of the Code and applicable Internal Revenue Service guidance and Treasury Regulations
issued there under (and any applicable transition relief under Section 409A of the Code). Nevertheless, the tax treatment of the benefits provided under the Agreement is not warranted or guaranteed. Neither the Company nor its managers,
members, officers, employees, or advisers shall be held liable for any taxes, interest, penalties, or other monetary amounts owed by You as a result of the application of Section 409A of the Code. Any right to a series of installment payments
under this Agreement shall, for purposes of Section 409A of the Code, be treated as a right to a series of separate payments. 
 All reimbursements and
in-kind benefits provided under this Agreement that are includible in Your federal gross taxable income shall be made or provided in accordance with the requirements of Section 409A of the Code, including
the requirement that (i) any reimbursement is for expenses incurred during Your lifetime (or during a shorter period of time specified in this letter), (ii) the amount of expenses eligible for reimbursement or
in-kind benefit provided during a 

  

					
		  	- 2 -	  	
	  
 Employee’s
Initials
	  		  	9777098(GA)

 calendar year may not affect the expenses eligible for reimbursement, or
in-kind benefits to be provided, in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the
expense was incurred, and (iv) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

Additionally, notwithstanding anything in this Agreement to the contrary, any separation payments under this Agreement, and any other amount or benefit that
would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code and that would otherwise be payable or distributable hereunder by reason of Your termination, will
not be payable or distributable to You by reason of such circumstance unless the circumstances giving rise to such termination meet any description or definition of “separation from service” in Section 409A of the Code and applicable
regulations (without giving effect to any elective provisions that may be available under such definition). If this provision prevents the payment or distribution of any amount or benefit, such payment or distribution shall be made on the date, if
any, on which an event occurs that constitutes a Section 409A-compliant “separation from service.” 
 In the event that You are a
“specified employee” (as described in Code Section 409A), and any payment or benefit payable pursuant to this Agreement constitutes deferred compensation under Code Section 409A and would otherwise be payable upon Your
“separation from service” (as described in Code Section 409A), then no such payment or benefit shall be made before the date that is six (6) months after Your “separation from service” (or, if earlier, the date of Your
death). Any payment or benefit delayed by reason of the prior sentence (the “Delayed Payment”) shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment
schedule. 
 7. Stock Grants. In the event the Company consummates a Triggering Event (as such term is defined in the Company’s 2008 Stock Plan)
prior to completion of an initial public offering or a Change in Control (as that term is defined in the Company’s 2018 Equity Incentive Plan) after completion of an initial public offering (together Trigger Event and Change in Control shall be
referred to as “Trigger”) and either 90 days prior or 1 year after such Trigger, either (a) your employment is terminated by the Company for any reason other than Cause, or by You for Good Reason, (b) your role, responsibilities
or duties are materially changed, reduced, or eliminated, (c) your compensation is materially reduced, or (d) the geographic location of your employment is materially changed (each an “Acceleration Event”), then all of the
then-remaining unvested options, restricted shares, or restricted stock units which were granted prior to such Trigger shall immediate and fully vest and become exercisable on such Acceleration Event. 

8. Entire Agreement. This Agreement and the Covenants Agreement and Confidential Inventions Agreement both of which were executed by You in June 2014
and July 2014, respectively, (the “Prior Agreement”)(collectively, the “Agreements”) constitute the entire agreement between the Parties. The Prior Agreement is incorporated by reference, and any of Your post-termination
obligations contained in the Prior Agreement shall remain in full force and effect, and shall survive cessation of Your employment. You acknowledge that Your post-termination obligations contained in the Prior Agreement are valid, enforceable and
reasonably necessary to protect the interests of the Company, and You agree to abide by such obligations. These Agreements supersede any prior communications, agreements or understandings, whether oral or written, between the Parties arising out of
or relating to Your employment and the termination of that employment. Other than this Agreement, no other representation, promise or agreement has been made with You to cause You to sign this Agreement. 

9. Amendments. This Agreement may not be amended or modified except in writing signed by both Parties. 

10. Successors and Assigns. This Agreement shall be assignable to, and shall inure to the benefit of, the Company’s successors and assigns,
including, without limitation, successors through merger, name change, consolidation, or sale of a majority of the Company’s stock or assets, and shall be binding upon You and Your heirs and assigns. 

11. Governing Law/Consent to Jurisdiction and Venue. The laws of the State of Georgia shall govern this Agreement. If Georgia’s conflict of law
rules would apply another state’s laws, the Parties agree that Georgia law shall still govern. Any and all claims arising out of or relating to this Agreement shall be brought in a state or federal court of competent jurisdiction in Georgia.
The Parties consent to the personal jurisdiction of the state and/or federal courts located in Georgia, and waive (i) any objection to jurisdiction or venue, or (ii) any defense claiming lack of jurisdiction or improper venue, in any
action brought in such courts. 

  

					
		  	- 3 -	  	
	  
 Employee’s
Initials
	  		  	9777098(GA)

 IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the Effective Date. 

 

									
	Cardlytics, Inc.	 		 	You	 	
				
	By:	 	  
	 		 	  

					
	Its:	 	  
	 		 	Name:	 	  

					
	Date:	 	  
	 		 	Date:	 	  

  

					
		  	- 4 -	  	
	  
 Employee’s
Initials
	  		  	9777098(GA)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00278-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00278-of-00352.parquet"}]]