Document:

exv10w10

Exhibit 10.10

MoneyGram International, Inc.

Non-Employee Director Compensation Arrangements

The following compensation program is available to non-employee directors of MoneyGram
International, Inc.

Retainers and Fees for Non-Employee Directors

An annual Board membership retainer of $75,000 shall be paid to each non-employee director. The
retainer shall be made in arrears in four equal installments on the first business day following
March 31, June 30, September 30, December 31 (each a “Payable Date”).

The Chair of the Audit committee shall receive an additional $15,000 in cash per year of
Chairmanship; payment will be made in arrears in four equal installments on each Payable Date.

The Chair of the Human Resources and Nominating committee shall receive an additional $7,500 in
cash per year of Chairmanship; payment will be made in arrears in four equal installments on each
Payable Date.

Non-employee directors are also reimbursed for their expenses for each Board or committee meeting
attended. To the extent that any taxable reimbursements are provided, they shall be made or
provided in accordance with Section 409A of the Internal Revenue Code and the Treasury Regulations
thereunder.

Equity Awards for Non-Employee Directors

Under the MoneyGram International, Inc. 2005 Omnibus Incentive Plan, as amended, each non-employee
director, at the annual meeting in May, shall receive a restricted stock unit (“RSU”) covering
shares of common stock the fair market value of which shall be equal to $75,000, as determined by
the per share closing price of the common stock on the New York Stock Exchange, as reported in the
consolidated transaction reporting system, on the date of award of the RSU. RSUs awarded under
this program shall be payable in shares.

Each RSU shall vest in full, if at all, upon the first anniversary of the date of award of such
RSU. If a director voluntarily resigns such director’s Board membership prior to the completion of
the one year vesting period, then such director’s RSU shall be forfeited in whole. Notwithstanding
the foregoing, a director’s RSUs then outstanding (i.e. granted and not previously forfeited) will
vest immediately and in full upon (i) a change in control (as defined in the standard Restricted
Stock Unit Award Agreement approved for use under the MoneyGram International, Inc. 2005 Omnibus
Incentive Plan) so long as the director remains on the Board through the date immediately prior to
the change in control; or (ii) the director ceases Board membership due to death or disability.

Proration of Retainer and Equity Awards

With respect to Directors who join the Board during a year, the Board may prorate such Director’s
retainer and/or equity award as it deems appropriate.

Amendment or Termination

The Board may amend, alter, suspend, discontinue or terminate this program at any time.exv10w11

Exhibit 10.11

MONEYGRAM INTERNATIONAL, INC.

RESTRICTED STOCK UNIT AWARD AGREEMENT

     This RESTRICTED STOCK UNIT AWARD AGREEMENT (the “Agreement”) is made by and between
MoneyGram International, Inc., a Delaware corporation (the “Company”) and                          
(“Participant”), a non-employee member of the Company’s Board of Directors (the “Board”). The
grant date of this award is                       (the “Grant Date”).

     1. Award. The Company hereby grants to Participant a restricted stock unit award covering                     shares
(the “Shares”) of Common Stock, $.01 par value per share, of the Company
according to the terms and conditions set forth herein and in the Company’s 2005 Omnibus Incentive
Plan (the “Plan”). Each restricted stock unit (a “Unit”) represents the right to receive one
Share, subject to the vesting requirements of this Agreement and the terms of the Plan. The Units
are granted under Section 6(c) and 6(d) of the Plan. A copy of the Plan will be furnished upon
request of Participant. Each capitalized term used but not defined in this Agreement shall have
the meaning assigned to that term in the Plan.

     2. Vesting. Except as otherwise provided in this Agreement, the Units shall vest in
full upon the first (1st) anniversary of the Grant Date.

     3. Restrictions on Transfer. The Units may not be sold, assigned, transferred or
pledged, other than by will or the laws of descent and distribution, and any such attempted
transfer shall be void.

     4. Forfeiture; Early Vesting. If Participant voluntarily terminates Board service
prior to vesting of the Units pursuant to Section 2 hereof, all of Participant’s rights to all of
the unvested Units shall be immediately and irrevocably forfeited, except that (i) if Participant’s
Board service terminates by reason of Disability (as defined below) prior to the vesting of Units
under Section 2 hereof; (ii) if Participant’s Board service terminates by reason of death prior to
the vesting of Units under Section 2 hereof; or (iii) upon a Change in Control, all Units granted
hereunder shall vest as of such event. Upon forfeiture, Participant will no longer have any rights
relating to the unvested Units. The Company reserves the right, in accordance with the Plan, to
accelerate vesting of each Unit as deemed necessary or appropriate in its sole and absolute
discretion.

     For purposes of this Agreement, , the following terms shall have the definitions set forth
below:

     (a) “Disability” shall mean total and permanent disability as approved by the Committee
administering the Plan.

     (b) “Change in Control” shall mean (i) a sale, transfer or other conveyance or disposition, in
any single transaction or series of transactions, of all or substantially all of the Company’s
assets, (ii) the transfer of more than 50% of the outstanding securities of the Company, calculated
on a fully-diluted basis, to an entity or group (within the meaning of

 

 

Section 13(d)(3) or 14(d)(2)
of the Securities Exchange Act of 1934 (the “Exchange Act”)), or (iii) the merger,
consolidation reorganization, recapitalization or share exchange of the Company with another
entity, in each case in clauses (ii) and (iii) above under circumstances in which the holders of
the voting power of the outstanding securities of the Company, as the case may be, immediately
prior to such transaction, together with such holders’ affiliates and related parties, hold less
than 50% in voting power of the outstanding securities of the Company or the surviving entity or
resulting entity, as the case may be, immediately following such transaction; provided,
however, that the issuance of securities by the Company shall not, in any event, constitute
a Change in Control, and for the avoidance of doubt a sale or other transfer or series of transfers
of all or any portion of the securities of the Company held by the Investors and their affiliates
and related parties shall not constitute a Change in Control unless such sale or transfer or series
of transfers results in a entity or group (as defined in the Exchange Act) other than the Investors
and their affiliates and related parties holding more than 50% in voting power of the outstanding
securities of the Company.

     5. Miscellaneous.

     (a) Issuance of Shares. As soon as administratively practicable following the
Participant’s vesting date under Section 2 or Section 4 hereof, as applicable, and the
Participant’s satisfaction of any required tax withholding obligations (but in no event later than
60 days following the vesting date), the Company shall cause Shares to be issued and evidenced in
such manner as the Company may deem appropriate, including book-entry registration or issuance of a
stock certificate or certificates. The number of Shares issued shall equal the number of Units
vested, reduced as necessary to cover applicable withholding obligations in accordance with Section
5(c) hereof. If it is administratively impracticable to issue Shares within the time frame
described above because issuances of Shares are prohibited or restricted pursuant to the policies
of the Company that are reasonably designed to ensure compliance with applicable securities laws or
stock exchange rules, then such issuance shall be delayed until such prohibitions or restrictions
lapse.

     (b) Rights as Shareholder. Units are not actual Shares, but rather, represent a right
to receive Shares according to the terms and conditions set forth herein and the terms of the Plan.
Accordingly, except as expressly provided in this Section 5(b), the issuance of a Unit shall not
entitle the Participant to any of the rights or benefits generally accorded to stockholders unless
and until a Share is actually issued under Section 5(a) hereof.

     (i) Dividends Payable Other than in Common Stock. If the payment date for a
dividend declared by the Board and payable in cash or in property other than cash or Common
Stock occurs prior to the date a Unit is settled, Participant will be credited with a number
of additional Units determined according to the following formula:

     Dividend value per share x Number of Restricted Stock Units

Fair Market Value

     For purposes of this formula:

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“Dividend value per share” means the amount of the cash dividend (or the per share value of
any dividend payable in property other than cash) declared per share of Common Stock for the
applicable payment date;

“Number of Restricted Stock Units” means the aggregate number of Units outstanding under
this Agreement as of the applicable dividend record date; and

“Fair Market Value” means the Fair Market Value of a share of Common Stock on the applicable
dividend payment date.

     (ii) Dividends in Common Stock. If the payment date for a dividend declared by
the Company’s Board and payable in Common Stock occurs prior to the date a Unit is settled,
Participant will be credited with a number of additional Units determined by multiplying the
aggregate number of Units outstanding under this Agreement as of the applicable dividend
record date by the number of shares of Common Stock payable as a dividend on each
outstanding share of Common Stock in connection with such dividend declaration.

     (iii) Treatment of Additional Restricted Stock Units. Any additional Units
granted under (i) or (ii) above are subject to the terms and conditions of this Agreement
and the Plan, and specifically will vest and be settled, or forfeited, to the extent and at
the time that the underlying Units to which such additional Units relate are subject to
vesting, settlement or forfeiture hereunder.

     (iv) Adjustments to Award. If a corporate transaction or event affects the
Units such that an adjustment is determined by the Committee to be appropriate in order to
prevent dilution or enlargement of the benefits or potential benefits intended to be made
available under the Plan, then in accordance with Section 4(c) of the Plan, the Committee
shall, in such manner as it may deem equitable, adjust any or all of the number and type of
Shares (or other securities or other property) subject to outstanding Units.

     (c) Taxes. You acknowledge that you will consult with your personal tax advisor
regarding the applicable federal, state, local or foreign tax consequences that arise in connection
with this Agreement. In order to comply with all applicable federal, state, local or foreign
income tax laws or regulations, the Company may take such action as it deems appropriate to ensure
that all applicable federal, state, local or foreign payroll, withholding, income or other
taxes, which are your sole and absolute responsibility, are withheld or collected from you, if
and to the extent required by applicable law.

     (d) Subject to Plan. This Award is subject to the terms and conditions of the Plan,
but the terms of the Plan shall not be considered an enlargement of any benefits under this
Agreement. In addition, this Award is subject to the rules and regulations promulgated pursuant to
the Plan, now or hereafter in effect. A copy of the Plan will be furnished upon request of the
Participant.

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     (e) No Right to Continued Service. This Agreement shall not confer on the Participant
any right with respect to continuance of service to the Company, nor will it interfere in any way
with the right of the Company to terminate such service at any time.

     (f) Governing Law. The validity, construction and effect of the Plan and the
Agreement, and any rules and regulations relating to the Plan and the Agreement, shall be
determined in accordance with the internal laws, and not the law of conflicts, of the State of
Delaware.

     (g) Severability. If any provision of the Agreement is or becomes or is deemed to be
invalid, illegal or unenforceable in any jurisdiction or would disqualify the Agreement under any
law deemed applicable by the Committee administering the Plan, such provision shall be construed or
deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended
without, in the determination of the Committee, materially altering the purpose or intent of the
Plan or the Agreement, such provision shall be stricken as to such jurisdiction or the Agreement,
and the remainder of the Agreement shall remain in full force and effect.

     (h) No Trust or Fund Created. Neither the Plan nor the Agreement shall create or be
construed to create a trust or separate fund of any kind or a fiduciary relationship between the
Company or any Affiliate and Participant or any other person.

     (i) Section 409A Provisions. The payment of Shares under this Agreement are intended
to be exempt from the application of section 409A of the Internal Revenue Code, as amended
(“Section 409A”) by reason of the short-term deferral exemption set forth in Treasury Regulation
§1.409A-1(b)(4). Notwithstanding anything in the Plan or this Agreement to the contrary, to the
extent that any amount or benefit hereunder that constitutes “deferred compensation” to the
Participant under Section 409A and applicable guidance thereunder is otherwise payable or
distributable to the Participant under the Plan or this Agreement solely by reason of the
occurrence of a Change in Control or due to the Participant’s Disability or separation from
service, such amount or benefit will not be payable or distributable to the Participant by reason
of such circumstance unless the Committee determines in good faith that (i) the circumstances
giving rise to such Change in Control, Disability or separation from service meet the definition of
a change in ownership or control, disability, or separation from service, as the case may be, in
Section 409A(a)(2)(A) of the Code and applicable final regulations, or (ii) the payment or
distribution of such amount or benefit would be exempt from the application of Section 409A by
reason of the short-term deferral exemption or otherwise (including, but not limited to, a payment
made pursuant to an involuntary separation arrangement that is exempt
from Section 409A under the “short-term deferral” exception). Any payment or distribution
that otherwise would be made to a Participant who is a specified employee as defined in Section
409A(a)(2)(B) of the Code on account of separation from service may not be made before the date
which is six months after the date of the specified employee’s separation from service (or if
earlier, upon the specified employee’s death) unless the payment or distribution is exempt from the
application of Section 409A by reason of the short term deferral exemption or otherwise.

     (j) Headings. Headings are given to the Sections and subsections of the Agreement
solely as a convenience to facilitate reference. Such headings shall not be deemed in any way

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material or relevant to the construction or interpretation of the Agreement or any provision
thereof.

     IN WITNESS WHEREOF, the Company and Participant have executed this Agreement on the date set
forth in the first paragraph.

	 	 	 	 	 	 	 	 	 

	 	 	MONEYGRAM INTERNATIONAL, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	PARTICIPANT	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Print Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

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