Document:

Severance Agreement dated November 9, 2004

 Exhibit 10.14 
 SEVERANCE AGREEMENT 
 Severance Agreement dated as of November 9, 2004 (the
“Agreement”), by and between Trilegiant Corporation, a Delaware corporation (the “Company”), and Thomas Rusin (the “Executive”). 
 WHEREAS, the Company currently employs the Executive as an Executive Vice President; and 
 WHEREAS, each of
the Company and the Executive desires to establish severance protection rights for Executive as more fully set forth herein. 
 NOW
THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 SECTION I 
 EFFECT OF TERMINATION OF EMPLOYMENT WITHOUT CAUSE 
 A. Without Cause Termination. If the Executive’s employment is terminated by the Company and its affiliates pursuant to a Without Cause
Termination (as defined below), then, subject to the Executive executing a release of claims against the Company and its subsidiaries and affiliates as more fully described in Section I(D), the Company will pay the Executive a lump sum amount equal
to $225,000.00 (or, if his current base salary as of the date of the Without Cause Termination is higher than $225,000, then such higher base salary amount), plus any salary and bonus amounts which are earned but unpaid through the date of such
termination. For purposes of this Section I(A), bonus amounts shall be deemed to be “earned” by the Executive only to the extent that the Executive remains employed by the Company or its subsidiaries or affiliates as of the end of the
applicable period for which any performance tied to such award is measured. Except as provided in this paragraph (and except for any remaining obligations under any then applicable employee benefit, stock option, restricted stock or similar plan
(and any agreements entered into in connection therewith) and except as provided in Section VI below), the Company and its subsidiaries and affiliates will have no further obligations to the Executive hereunder. 
 B. Termination for Cause; Resignation. If the Executive’s employment terminates due to a Termination for Cause or a Resignation, any salary
amounts which are earned but unpaid through the date of such termination will be paid to the Executive in a lump sum. Except as provided in this paragraph (and except for any remaining obligations under any then applicable employee benefit, stock
option, restricted stock or similar plan (and any agreements entered into in connection therewith), the Company and its subsidiaries and affiliates will have no further obligations to the Executive hereunder. 
  

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 C. For purposes of this Agreement, the following terms have the following meanings: 
 i. “Termination for Cause” means (i) the Executive’s willful failure to substantially perform his or her duties as an
employee of the Company or any of its subsidiaries or affiliates (other than any such failure resulting from incapacity due to physical or mental illness), (ii) any act of fraud, misappropriation, dishonesty, embezzlement or similar conduct
against the Company or any of its subsidiaries or affiliates, (iii) the Executive’s conviction of a felony or any crime involving moral turpitude (which conviction, due to the passage of time or otherwise, is not subject to further appeal)
or (iv) the Executive’s gross negligence in the performance of his or her duties. 
 ii. “Without Cause
Termination” or “Terminated Without Cause” means termination of the Executive’s employment by the Company and its subsidiaries and affiliates other than due to death, Disability or Termination for Cause. 
 iii. “Resignation” means a termination of the Executive’s employment by the Executive, other than in connection with a
Constructive Discharge. 
 iv. “Disability” means the Executive’s inability to perform his or her duties
hereunder as a result of serious physical or mental illness or injury for a period of no less than 60 consecutive days, together with a determination by an independent medical authority that (i) the Executive is currently unable to perform such
duties and (ii) in all reasonable likelihood such disability will continue for an additional period in excess of 60 days beyond such original 60-day period. Such medical authority shall be selected by the Company and such opinion shall be
binding on the Company and the Executive. 
 v. “Constructive Discharge” means (i) any reduction of the
Executive’s then-applicable base salary as of the date in question or (ii) the relocation of the Executive’s primary office to any location other than Southern Connecticut or the New York metropolitan area. The Executive will provide
the Company a written notice which describes the circumstances being relied on for the termination with respect to this Agreement within thirty (30) days after the event giving rise to the notice. The Company will have thirty (30) days
after receipt of such notice to remedy the situation prior to the termination for Constructive Discharge. 
 D. Conditions to Payment and
Acceleration. All payments and benefits due to the Executive under this Section I shall be made or provided as soon as reasonably practicable (and in any event within 20 days of the execution by the Executive of the release referred to below);
provided that such payments and benefits shall be subject to, and contingent upon, the execution by the Executive (or the Executive’s beneficiary or estate) of a release of claims against the Company and its subsidiaries and affiliates
and their respective representatives in such form as shall be determined by the Company in its sole discretion. The payments due to the Executive under this Section I shall be in lieu of any other severance benefits otherwise payable to the
Executive under any severance plan of the Company or its affiliates. 
  

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 SECTION II 
 OTHER DUTIES OF THE EXECUTIVE 
 DURING AND AFTER EMPLOYMENT WITH THE COMPANY 
 A. Cooperation on Legal Matters. The Executive will, with reasonable notice during or after the Executive’s employment with the Company,
furnish information as may be in his or her possession and, subject to reimbursement of any reasonable expenses incurred, will fully cooperate with the Company and its affiliates to the extent reasonably requested in connection with any claims or
legal action in which the Business (as defined in Section II(E) below) or the Company or any of its subsidiaries or affiliates (collectively, the “Corporation”) is or may become a party. 
 B. Non-Compete Provisions. The Executive agrees that throughout the Executive’s employment with the Corporation and for a period of one
(1) year following the termination of that employment (regardless of whether such termination is voluntary, involuntary or otherwise), the Executive shall not: 
 i. Engaging in a Competing Business - accept or maintain employment with, or act as a principal of, investor in or advisor or
consultant to, or otherwise become affiliated with in any other capacity (other than as a holder of less than 1% of the total outstanding equity securities of any publicly-held company), any person, firm, corporation or other entity which competes,
or undertakes to compete, in any manner with the Corporation in relation to the Business (as it may be conducted from time to time following the date hereof) (a “Competing Business”); or 
 ii. Soliciting Customers of the Business - solicit, induce or encourage, either directly or indirectly, any customer, client,
partner or other third party having a relationship with the Business, either (i) to terminate, reduce or modify in any way adverse to the Business, any relationship such person or entity may have with the Business, or (ii) engage in
business with any Competing Business (as defined in Section II(B)(i) above); or 
 iii. Soliciting Employees of the
Business - solicit, induce or encourage, either directly or indirectly, any employee of the Business to leave his or her employment or take any action to assist any successor employer or any other entity, either directly or indirectly, in
soliciting, inducing or encouraging any employee of the Business to leave his or her employment; or hire or employ, or assist in the hiring or employment of, either directly or indirectly, any individual that was employed by the Business within 180
days preceding the date of such other hiring or employment. 
 The provisions of this Section II(B) shall apply to and encompass those
geographic areas in which the Corporation engages in the Business, or delivers services related to the Business, during the Executive’s period of employment with the Corporation (it being understood that any Internet-based business activities
of the Business shall be deemed to be worldwide in their geographic scope, unless specifically limited to a specified area). The Executive acknowledges that the uniqueness of the Business, including its size and extensive business and customer
relationships, makes it difficult (if not meaningless) to assign a narrower geographical limitation. 
  

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 C. Confidentiality Obligations. The Executive acknowledges that the Confidential Information (as
defined in Section II(E) below) is confidential and is a unique and valuable asset of the Corporation. The Executive agrees that Executive shall not, directly or indirectly, (a) reveal or cause to be revealed to any person or entity the
Confidential Information (except either (x) during the period of the Executive’s employment with the Corporation to the extent reasonably necessary in the performance of Executive’s duties on the Corporation’s behalf or
(y) to the extent disclosure is expressly required by law and Executive provides the Corporation with prior written notice of any such compelled disclosure), and (b) make use of any Confidential Information for Executive’s own
purposes or for the benefit of any person or organization other than the Corporation and its affiliates. In addition, the Executive recognizes that the Corporation has received, and may receive from time to time in the future, from third parties
their confidential or proprietary information subject to a duty on the Corporation’s part to maintain the confidentiality of such information and to use it only for certain limited purposes; accordingly, the Executive agrees to hold all such
third party confidential or proprietary information in the strictest confidence and not to disclose it to any person or entity or to use it, except as necessary in carrying out Executive’s work for the Corporation consistent with the
Corporation’s agreement with such third party. 
 D. Assignment of Intellectual Property. The Executive agrees that Executive
will make full written disclosure to the Corporation, will hold in trust for the sole right and benefit of the Corporation, and hereby assigns to the Corporation, or its designee, all of Executive’s right, title, and interest in and to any and
all Inventions (as defined in Section II(E) below). The Executive further acknowledges that all original works of authorship which are made be Executive (solely or jointly with others) within the scope of and during the period of Executive’s
employment with the Corporation and which are protectible by copyright are “works made for hire,” as that term is defined in the United States Copyright Act. The Executive agrees to assist the Corporation, or its designee, at the
Corporation’s expense, in every proper way to secure the Corporation’s rights in the Inventions in any and all countries, including the disclosure to the Corporation of all pertinent information and data with respect thereto, the execution
of all applications, specifications, oaths, assignments and all other instruments which the Corporation shall deem necessary in order to apply for and obtain such rights and in order to assign and convey to the Corporation, its successors, assigns
and nominees the sole and exclusive rights, title and interest in and to such Inventions. 
 E. Defined Terms. For purposes of this
Agreement, (a) the term “Business” shall mean (i) any business of the Corporation involving the offering of membership-based products or services to consumers, whether marketed directly to consumers or marketed through any
financial institution, retailer or one or more other third parties, and whether marketed through direct mail, telemarketing methods, general advertising, the Internet, any computer online service or other-wise, as well as (ii) any other
business that the Corporation engages in during Executive’s period of employment with the Corporation if the Executive is actively involved in any of the operations or activities of such other business during any portion of such period of
employment, and if as a result of such active involvement in such business, the Executive is exposed to any Confidential Information relating to such other business, (b) the term “Confidential Information” shall mean all
inventions, trade secrets, business methods, financial projections, business plans or other information (whether in written, oral, electronic or other form) pertaining to the affairs, business, clients, customers or other relationships of the

  

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Corporation and its affiliates and all other confidential and proprietary business information of the Corporation and its affiliates (whether related to the
Business or otherwise); provided that the term “Confidential Information” shall not include any of the information referred to above that is or becomes generally available to the public, other than as a result of a breach by
the Executive or his or her representatives of the provisions of this Agreement, and (c) the term “Inventions” shall mean all inventions, original works of authorship, developments, concepts, improvements or trade secrets,
whether or not patentable or registrable under copyright or similar laws, which the Executive may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time
the Executive is in the employ of the Corporation, together with any and all copyrights, patents, trademarks or other intellectual property rights related thereto. 
 F. Remedies Available. The Executive hereby acknowledges that damages at law may be an insufficient remedy to the Company if the Executive violates the terms of this Agreement and that the Company will be
entitled, upon making the requisite showing, to preliminary and/or permanent injunctive relief in any court of competent jurisdiction to restrain the breach of or otherwise to specifically enforce any of the covenants contained in this Section II
without the necessity of showing any actual damage or that monetary damages would not provide an adequate remedy. Such right to an injunction will be in addition to, and not in limitation of, any other rights or remedies the Company may have.
Without limiting the generality of the foregoing, neither party will oppose any motion the other party may make for any expedited discovery or hearing in connection with any alleged breach of this Section II. 
 G. Extension of Time Periods. The period of time during which the provisions of this Section II will be in effect will be extended by the length
of time during which the Executive is in breach of the terms hereof as determined by any court of competent jurisdiction on the Company’s application for injunctive relief. 
 H. Essential Nature of Restrictions. The Executive agrees that the restrictions contained in this Section II are an essential inducement for the
compensation the Executive is granted hereunder and that but for the Executive’s agreement to comply with such restrictions, the Company would not have entered into this Agreement. 
 SECTION III 
 WITHHOLDING TAXES 
 The Executive acknowledges and agrees that the Company may directly or indirectly withhold from any payments under this Agreement all federal, state,
city or other taxes that will be required pursuant to any law or governmental regulation. 
 SECTION IV 
 EFFECT OF PRIOR AGREEMENTS 
 Except for
the Release, Covenant Not to Compete, Confidentiality and Waiver and Consent Agreement, dated as of January 30, 2004, by and among by and among Executive, Cendant Corporation (“Cendant”), Cendant Membership Services Holdings
Subsidiary, Inc., the Company (formerly known as CMS Subsidiary Inc.) and TRL Group (formerly known as 

  

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Trilegiant Corporation), this Agreement will supersede any prior employment agreement or arrangement between the Company and the Executive and/or between the
Executive and Cendant Corporation or any of its subsidiaries or affiliates, and any such prior agreement or arrangement will be deemed terminated without any remaining obligations of either party thereunder; provided that any prior agreements
pertaining to noncompetition, confidentiality, works-for-hire and any other similar covenants between the Executive and Cendant, the Company or any of their respective subsidiaries or affiliates (including, without limitation, any stock subscription
and/or stockholders agreements entered into between the Company and the Executive prior to the date hereof), as well as any employee benefit, stock option, restricted stock or other similar plans (as well as any agreements entered into in connection
therewith), shall remain in full force and effect in accordance with their respective terms. 
 SECTION V 
 SURVIVAL 
 Sections II, III, and IV
will continue in full force in accordance with their respective terms notwithstanding any termination of the Executive’s employment and regardless of the manner or circumstances of such termination. 
 SECTION VI 
 MISCELLANEOUS 

A. Modification and Waiver. This Agreement may not be modified or amended except in writing signed by the parties. No term or condition of this
Agreement will be deemed to have been waived except in writing by the party charged with waiver. A waiver will operate only as to the specific term or condition waived and will not constitute a waiver for the future or act on anything other than
that which is specifically waived. 
 B. Severability. All provisions of this Agreement are intended to be severable. In the event any
provision or restriction contained herein is held to be invalid or unenforceable in any respect, in whole or in part, such finding will in no way affect the validity or enforceability of any other provision of this Agreement. The parties hereto
further agree that any such invalid or unenforceable provision will be deemed modified so that it will be enforced to the greatest extent permissible under law, and to the extent that any court of competent jurisdiction determines any restriction
herein to be unreasonable in any respect or unenforceable because of its scope, duration, geographic coverage or otherwise, such court shall have the power to modify or limit this Agreement to the extent necessary so that it can be enforced to the
greatest extent permissible under law. 
 C. Consolidation, Merger, or Sale Of Assets. Nothing in this Agreement will preclude the
Company from consolidating or merging into or with, or transferring all or substantially all of its assets to, any other corporation or entity (including, without limitation, any affiliate or subsidiary of Cendant Corporation or the Company) which
assumes this Agreement and all obligations and undertakings of the Company hereunder. Upon such a consolidation, merger or sale of assets the term “Company” will mean such other corporation or entity and this Agreement will continue in
full force and effect. 
  

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 D. Governing Law. This Agreement has been executed and delivered in the State of Connecticut and
its validity, interpretation, performance and enforcement will be governed by the internal laws of that state. 
  

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 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

	
	 TRILEGIANT CORPORATION

	
	 /s/ Nathaniel J. Lipman

	 By: Nathaniel J. Lipman

	 Title: Chief Executive Officer

	
	 THOMAS RUSIN

	
	 /s/ Thomas Rusin

  

 8Subscription Agreement dated as of October 17, 2005

 Exhibit 10.15 
  

			
		    	SUBSCRIPTION AGREEMENT (this “Agreement”), dated as of October     , 2005 between AFFINION GROUP HOLDINGS, INC., a Delaware Corporation,
(the “Company”) and INVESTOR (as set forth on the Signature Page) (“Investor”).

 WHEREAS, Investor desires to purchase certain shares of the Company’s common stock;
and 
 WHEREAS, pursuant to the Purchase Agreement made and entered into as of the 26th day of July, 2005, by and among Affinion
Group, Inc. (f/k/a Affinity Acquisition, Inc.), the Company (f/k/a Affinity Acquisition Holdings, Inc.) and Cendant Corporation, the Company will acquire all of the equity interests in Cendant Marketing Group, LLC and Cendant International Holdings
Limited (the “Transaction”); 
 WHEREAS, the Company is willing to sell the Company’s common stock to Investor
on the terms and conditions provided below. 
 NOW, THEREFORE, in consideration of the promises and of the mutual covenants contained
in this Agreement, the parties hereby agree as follows: 
 1. Subscription. Investor hereby subscribes for and offers to purchase as of
the closing of the Transaction (the “Closing”) [Item 1(a) on the Signature Page] shares of the Company’s common stock, par value $0.01 per share, (the “Shares”) at the purchase price of $[Item 1(b) on
the Signature Page] per Share for the aggregate amount indicated in Section 2 of this Agreement. 
 2. Tender of
Consideration. Investor hereby irrevocably tenders this Agreement, and on the Closing will be deemed to pay $[Item 2 on the Signature Page], by means of a dollar-for-dollar reduction of the Payments payable to Investor under the Retention
Letter (as such terms are defined in Section 3), as aggregate consideration for the Shares. 
 3. Retention Letter. Investor is a
party to a letter agreement with Cendant Marketing Group, LLC or its affiliate, as amended through June 28, 2005 (the “Retention Letter”). Notwithstanding the timing of the payments set forth in the Retention Letter (the
“Payments”), Investor hereby acknowledges that: 
 (a) Investor will receive, on or about the Closing, [Item 1(a) on the
Signature Page] Shares, representing a portion of the Payments equal to $[Item 2 on the Signature Page]); 
 (b) Investor will
receive, on or about the Closing, an amount of the Payments in cash equal to $[Item 3 on the Signature Page]; 
 (c) all amounts
payable to Investor are subject to applicable withholding. 

 4. Risk of Forfeiture. Notwithstanding anything to the contrary contained herein, consistent with
the Retention Letter, to the extent Investor’s employment with the Company terminates for Cause as set forth in the Retention Letter (with the Company substituted for Cendant therein) or due to Investor’s resignation prior to the first
anniversary of the Closing, Investor shall immediately forfeit to the Company [Item 4 on the Signature Page] Shares, and the Company may reflect any such forfeiture on its share records without any further action required by Investor.
Investor, upon purchasing the Shares, shall be deemed to appoint, and does so appoint by execution of this Agreement, the Company and each of its authorized representatives as Investor’s attorney(s) in fact to (a) effect any forfeiture by
Investor to the Company of [Item 4 on the Signature Page] Shares pursuant to this Section 4, (b) effect any transfer to the Company of any Shares that are repurchased by the Company pursuant to Section 5 of the Management Investor
Rights Agreement (as defined below), and (c) execute such documents as the Company or such representatives deem necessary or advisable in connection with any such transfer or forfeiture. 
 5. Representations and Warranties of Investor. Investor hereby represents and warrants to the Company as follows: 
 (a) Investor is a “United States Person” within the meaning of Section 7701(a)(30) of the Internal Revenue Code, meaning that Investor is a
citizen or resident of the United States; 
 (b) Investor understands that the Shares have not been registered under the Securities Act of
1933, as amended (the “Securities Act”), and that this sale is being made in reliance on one or more exemptions for private offerings; 
 (c) The Shares for which Investor hereby subscribes are being acquired solely for Investor’s own account and for investment only. Investor is not purchasing the Shares with a view to or for the resale,
distribution, subdivision or fractionalization thereof and Investor has no plans to enter into any contract, undertaking, agreement or arrangement for any such purpose. Investor understands and agrees that the Company shall have no obligation to
recognize the ownership, beneficial or otherwise, of such Shares of anyone other than Investor and that no such Shares shall be transferable except upon the conditions set forth in the Management Investor Rights Agreement by and among the Company
and its stockholders, dated as of the date of this Agreement, a copy of which previously has been reviewed by Investor with counsel of his choice prior to becoming a party thereto (the “Management Investor Rights Agreement”);

 (d) Investor (i) has adequate means of providing for Investor’s current needs and possible contingencies, and Investor has no
need for liquidity in his investment in the Company, (ii) can bear the economic risk of losing his entire investment in the Company, (iii) has, alone or together with a Purchaser Representative (as defined in Rule 501(h) of the Securities
Act), such knowledge and experience in financial and business matters that Investor is capable of evaluating the relative risks and merits of this investment; and (iv) is an “Accredited Investor” within the meaning of
Section 5(g). 
 (e) Investor acknowledges that he has been provided with such information as he deems necessary to evaluate the merits
and risks of investing in the Shares and has been afforded the opportunity to ask such questions as he deemed necessary, and to receive answers from, representatives of the Company concerning the merits and risk of investing in the Shares;

 (f) In making the decision to invest in the Company, Investor has relied solely upon independent
investigations made by Investor. No representations or warranties, oral or otherwise, have been made to Investor or any party acting on Investor’s behalf that are inconsistent with the written materials which have been supplied to Investor by
the Company. 
 (g) To qualify as an Accredited Investor, Investor must satisfy at least one of the following alternative criteria:

 (i) Investor is a natural person whose individual net worth (or joint net worth with Investor’s spouse) is in excess of $1,000,000
(net worth or joint net worth includes the equity in one’s home); or 
 (ii) Investor is a natural person whose individual income (not
joint income with Investor’s spouse) in each of the prior two years was in excess of $200,000 or whose joint income with Investor’s spouse in each of the prior two years was in excess of $300,000, and who has a reasonable expectation of
reaching at least the same income level in the current year; or 
 (iii) Investor is a trust with total assets in excess of $5,000,000, not
formed for the specific purpose of acquiring the Shares, whose purchase is directed by a person with such knowledge and experience in financial and business matters that he or she is capable of evaluating the merits and risks of an investment in the
Shares; or 
 (iv) Investor is one of our directors or executive officers; or 
 (v) Investor is an entity in which all of the equity owners are Accredited Investors. 
 6. Transferability. Investor agrees not to transfer or assign this Agreement or any of Investor’s interest in this Agreement or in the
Company except as allowed by the terms of the Management Investor Rights Agreement, and further agrees that the assignment and transferability of the Shares acquired pursuant hereto shall be allowed only in accordance with applicable law and the
terms of the Management Investor Rights Agreement. 
 7. Revocation. Investor agrees that Investor will not cancel, terminate or
revoke this Agreement or any agreement made in connection with this Agreement. 
 8. Further Representations and Warranties of
Investor. 
 (a) Authority. Investor has full power, legal right and authority to execute, deliver and perform the terms of this
Agreement and to consummate the transactions contemplated by this Agreement and no consent of any third party not previously obtained is required to do so. The execution and delivery of this Agreement and the consummation of the transactions
contemplated by this Agreement have been duly and validly authorized by all requisite action and no other proceedings on the part of Investor are necessary to authorize this 

 Agreement or to consummate the transactions so contemplated. This Agreement has been duly and validly executed and
delivered by Investor and, assuming this Agreement has been duly authorized, executed and delivered by the other parties hereto, constitutes a valid and binding agreement of Investor, enforceable against Investor in accordance with its terms,
subject to applicable bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial
reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity). 
 (b) No
Conflicts. The execution, delivery and performance by Investor of this Agreement and any other agreement, certificate or document executed by Investor in connection with this Agreement, and the transactions (and the consummation of the
transactions) contemplated by this Agreement and any related agreements will not: (i) violate or conflict with any laws, rules or regulations of any government authority having jurisdiction; or (ii) result in the breach of, or constitute a
default (with or without notice or lapse of time, or both) under, or require any consent under, any provision of (x) any debt instrument, indenture, mortgage agreement or other instrument or arrangement to which Investor is a party or
(y) any judgment, order or decree by which Investor is bound. 
 9. Representations and Warranties of the Company. 
 (a) Authority. The Company has full power, legal right and authority to execute, deliver and perform the terms of this Agreement, to issue the
Shares in accordance with the terms and subject to the conditions of this Agreement, to consummate the transactions contemplated by this Agreement and no consent of any third party not previously obtained is required to do so. The execution and
delivery of this Agreement and the consummation of the transactions contemplated by this Agreement have been duly and validly authorized by all requisite action and no other proceedings on the part of the Company are necessary to authorize this
Agreement or to consummate the transactions contemplated by this Agreement. This Agreement has been duly and validly executed and delivered by the Company and, assuming this Agreement has been duly authorized, executed and delivered by the other
parties hereto, constitutes a valid and binding agreement of the Company, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors’ rights
and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in
equity). 
 (b) No Conflicts. The execution, delivery and performance by the Company of this Agreement and any other agreement
executed by the Company in connection herewith, and the transactions (and the consummation of the transactions) contemplated by this Agreement and any related agreements will not: (i) violate or conflict with any laws, rules or regulations of
any government authority having jurisdiction; or (ii) result in the breach of, or constitute a default (with or without notice or lapse of time, or both) under, or require any consent under, any provision of (x) any debt instrument,
indenture, mortgage agreement or other instrument or arrangement to which the Company is a party or (y) any judgment, order or decree by which the Company is bound. 

 (c) Capitalization. After giving effect to the transactions contemplated to take place on the
Closing, the capitalization of the Company will be as set forth on Attachment A. Upon issuance, the Shares will be duly authorized and validly issued, fully paid and nonassessable. 
 10. Miscellaneous. 
 (a) All notices
or other communications given or made hereunder shall be in writing and shall be delivered or mailed by registered or certified mail, return receipt requested, postage prepaid, to (i) the Company c/o Apollo Management V, L.P., 9 West
57th Street, New York, New York 10019, Attention: Marc Becker and (ii) Investor at his home address most
recently on file with the Company. 
 (b) Notwithstanding the place where this Agreement may be executed by any of the parties hereto, the
parties expressly agree that all the terms and provisions hereof shall be construed in accordance with and governed by the laws of the State of Delaware. 
 (c) This Agreement, the Management Investor Rights Agreement and the Retention Letter (as defined on the Signature Page) constitute the entire agreement between the parties hereto with respect to the subject
matter hereof and may be amended only by a writing executed by all parties. 
 (d) Whenever required by the context hereof, the singular
shall include the plural, and vice-versa. Any gender-specific reference applies to the other gender as context requires. 
 (e) All
covenants, agreements, representations and warranties made herein shall survive the execution and delivery hereof and transfer of any Shares. 
 11. Legends. All certificates evidencing Shares owned by Investor or its respective transferees permitted hereunder shall in addition to any other legend required by contract or applicable law bear a legend in substance as follows:

 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR PURSUANT TO ANY STATE OR BLUE SKY SECURITIES LAWS. THESE SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SAID ACT OR LAWS. THE SECURITIES REPRESENTED BY THIS
CERTIFICATE ARE ALSO SUBJECT TO A MANAGEMENT INVESTOR RIGHTS AGREEMENT DATED AS OF [            ] AMONG THE ISSUER OF SUCH SECURITIES (THE “COMPANY”) AND THE OTHER PARTIES NAMED
THEREIN. THE TERMS OF SUCH MANAGEMENT INVESTOR RIGHTS AGREEMENT INCLUDE AMONG OTHER THINGS, RESTRICTIONS ON TRANSFER. A COPY OF SUCH AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST. 

 SIGNATURE PAGE 
  

			
	Investor:	 	                                      
                   (full name in which ownership of the Shares is to be registered).
		
	Item 1(a):	 	Number of Shares to be delivered to Investor at or about the Closing:
		
	Item 1(b):	 	Price per Share: $
		
	Item 2:	 	Consideration for the Shares: $
		
	Item 3:	 	Cash payment, if any, to be received at or about the Closing (before withholding): $
		
	Item 4:	 	Shares subject to forfeiture pursuant to Section 4:
	
	Investor’s Social Security Number or other Taxpayer Identification Number:
                    

  

			
	INVESTOR
		
	By:	 	 [See Annex A]

	Name:

 The foregoing Subscription Agreement is accepted and agreed to by the Company as of the date
set forth below. 
  

			
	AFFINION GROUP HOLDINGS, INC.
		
	By:	 	 /s/ Nathaniel J. Lipman

	Name:	 	Nathaniel J. Lipman
	Title:	 	Chief Executive Officer

 Date of Acceptance: October 17, 2005 

 Annex A 
  

														
	 Investor
	  	Item 1(a)	  	Item 1(b)	  	Item 2	  	Item 3	  	Item 4
	 Robert Rooney
	  	100,000	  	$	10	  	$	1,000,000	  	$	275,000	  	38,250
	 Todd Siegel
	  	73,200	  	$	10	  	$	732,000	  	$	1,568,000	  	69,000
	 Michael Raucher
	  	50,000	  	$	10	  	$	500,000	  	$	500,000	  	30,000
	 Thomas Rusin
	  	47,600	  	$	10	  	$	476,000	  	$	974,000	  	43,500

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]