Document:

Rewards Network Inc. Severance Plan

 EXHIBIT 10.34 
 REWARDS NETWORK INC. 
 SEVERANCE PLAN 
 (Effective January 1, 2006) 

 REWARDS NETWORK INC. 
 SEVERANCE PLAN 
 (Effective January 1, 2006) 
 1. PURPOSE OF THE PLAN 
 The Rewards Network
Inc. Severance Plan, as set forth herein (the “Plan”), is effective as of January 1, 2006 (the “Effective Date”). The Plan provides severance benefits to eligible employees of Rewards Network Inc.
(“Rewards Network”) and its subsidiaries (collectively, the “Corporation”) whose employment terminates pursuant to the terms hereof. The Plan shall apply solely to persons who satisfy the applicable eligibility
criteria in Section 2 and all the criteria for participation in Section 3. The Plan supersedes all severance plans and policies previously adopted and maintained by the Corporation, other than Individual Severance Agreements.

 This document serves as both the Plan document and the summary plan description which is required to be provided to participants under the
Employee Retirement Income Security Act of 1974, as amended (“ERISA”). 
 Capitalized terms used in the Plan are defined in
Section 6. 
 2. ELIGIBILITY 
 Each individual who (i) is employed by the Corporation and treated in its employment records as (a) a part-time employee with at least one Year of Service or (b) a regular full-time employee, and (ii) is not a party to
an Individual Severance Agreement (an “Eligible Employee”) is eligible to participate in the Plan.  
 3. PARTICIPATION

 An Eligible Employee shall become a participant in the Plan (a “Participant”) only if (i) such Eligible
Employee’s employment with the Corporation terminates under circumstances that constitute a Qualifying Termination and (ii) such Eligible Employee executes, not later than his or her Termination Date or, if later, such date indicated by
the Plan Administrator, a waiver and release of claims against the Corporation (“Waiver and Release”) in the form prescribed by the Plan Administrator, and does not revoke such Waiver and Release within the revocation period, if
any, made available to such Eligible Employee by the Plan Administrator (the “Revocation Period”). The Corporation shall have no obligation to an Eligible Employee under this Plan unless and until the Eligible Employee executes the
Waiver and Release. If a court determines that an Eligible Employee has breached any Restrictive Covenant, the Corporation shall not be obligated to pay any severance benefits under this Plan. 
 4. SEVERANCE BENEFITS 
 4.1. Payment of
Benefit. Each Participant shall receive as severance pay the continued payment of such Participant’s Base Salary during the Salary Continuation Period set forth in Section 4.2. Such severance pay shall commence as soon as
administratively practicable after the Participant’s Termination Date, but in no event earlier than the expiration of the Participant’s Revocation Period, if any, and shall be paid in accordance with the Corporation’s payroll schedule
applicable to active employees. The Plan Administrator, in his or her sole discretion, may elect to pay the aggregate 
  

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 amount of severance pay to the Participant in a single lump sum payment not earlier than the expiration
of the Participant’s Revocation Period, if any. Participants shall not be considered employees of the Corporation for any purpose during the Salary Continuation Period, including without limitation for purposes of participation in, or the
accrual of benefits under, any employee benefit plan maintained by the Corporation. 
 4.2. Qualifying Termination. 
 (a) A Participant shall receive severance pay during the Salary Continuation Period set forth below, based on the Participant’s
employment position immediately prior to his or her Termination Date, if the Participant’s employment is terminated for the reasons set forth in Section 6.6(i) or (ii): 
  

			
	 Employment Position
	 	 Salary Continuation Period

		
	Vice President and above	 	Two months, plus three weeks for each Year of Service, not to exceed six months
		
	Exempt Non-Officer Management	 	One month, plus two weeks for each Year of Service, not to exceed six months
		
	Exempt (Non-Management) Staff (including, without limitation, sales representatives/account executives)	 	One month, plus one week for each Year of Service, not to exceed three months
		
	Non-Exempt Staff	 	Two weeks, plus one week for each Year of Service, not to exceed three months

 (b) A Participant shall receive severance pay during the Salary Continuation
Period set forth below, based on the Participant’s employment position immediately prior to his or her Termination Date, if the Participant’s employment is terminated for the reasons set forth in Section 6.6(iii): 

 

			
	Employment Position	 	Salary Continuation Period
		
	Vice President and above	 	One month, plus two weeks for each Year of Service, not to exceed six months
		
	Exempt Non-Officer Management	 	One month, plus one week for each Year of Service, not to exceed six months
		
	Exempt (Non-Management) Staff (including, without limitation, sales representatives/account executives)	 	Two weeks, plus one week for each Year of Service, not to exceed three months
		
	Non-Exempt Staff	 	One week, plus one week for each Year of Service, not to exceed three months

  

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 4.3. Other Terminations of Employment by the Corporation or a Participant. An Eligible Employee
whose employment terminates for any reason other than a Qualifying Termination shall have no rights to any severance benefits under this Plan. The remaining applicable provisions of this Plan (including the Restrictive Covenants) shall continue to
apply. 
 4.4. Offset for Statutory Payments. The severance benefits payable to a Participant under the Plan shall be reduced by any
payments required to be made to such Participant by the Corporation pursuant to any federal, state or local law in connection with such Participant’s termination of employment, including without limitation, payments during any advance notice
period pursuant to the Worker Adjustment and Retraining Notification Act. 
 4.5. Acceleration of Payments to Avoid Application of
Section 409A. If the payment of a Participant’s severance benefit pursuant to the schedule set forth above would cause such benefit to constitute nonqualified deferred compensation, within the meaning of Section 409A of the Code,
then the full amount of such severance benefit shall be paid prior to March 15th of the calendar year following
the year in which the Participant’s employment terminates. 
 5. TERMINATION OF PARTICIPATION; CESSATION OF BENEFITS 
 A Participant’s benefits under Section 4 of the Plan shall terminate on the last day of the Participant’s Salary Continuation
Period; provided that a Participant’s right to benefits shall terminate immediately on the date the Participant first breaches any of the Restrictive Covenants, in which case the Corporation may require the repayment of amounts paid under the
Plan prior to the discovery of such breach, and shall discontinue the payment of any additional amounts under the Plan. 
 6. DEFINITIONS

 In addition to terms previously defined, when used in the Plan, the following capitalized terms shall have the following meanings unless
the context clearly indicates otherwise: 
 6.1. “Base Salary” means the base salary paid or payable to a Participant by the
Corporation immediately prior to the Participant’s Termination Date. 
 6.2. “Board” means the Board of Directors of
Rewards Network. 
 6.3. “Cause” means, with respect to an Eligible Employee: 
 (a) the refusal to perform or disregard of the Eligible Employee’s duties or responsibilities, or of specific directives of the
officer or other executive of the Corporation to whom the Eligible Employee reports, including, without limitation, failure to comply with a performance improvement plan; 
 (b) the Eligible Employee’s willful, reckless or negligent commission of act(s) or omission(s) which have resulted in or are likely
to result in, a loss to, or damage to the reputation of, the Corporation or any of its affiliates, or that compromise the safety of any employee or other person; 
  

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 (c) an Eligible Employee’s act of fraud, embezzlement or theft in connection with
the Eligible Employee’s duties to the Corporation or in the course of his or her employment, or the Eligible Employee’s commission of a felony or any crime involving dishonesty or moral turpitude; 
 (d) an Eligible Employee’s violation of the Corporation’s policies or standards or of any statutory or common law duty of
loyalty to the Corporation; 
 (e) any breach by the Eligible Employee of any one or more of the Restrictive Covenants; or

 (f) the Corporation’s loss of confidence in the Eligible Employee’s ability to satisfactorily perform the
Eligible Employee’s duties and responsibilities, as documented by the Corporation in accordance with the Corporation’s policies. 
 6.4. “Code” means the Internal Revenue Code of 1986, as amended. 
 6.5. “Individual Severance
Agreement” means an individual employment or severance agreement between the Corporation and an employee of the Corporation that provides for the payment of severance benefits in connection with such employee’s termination of
employment. 
 6.6. “Qualifying Termination” means an involuntary termination of an Eligible Employee’s employment with
the Corporation pursuant to a written notice to such Eligible Employee of a decision by the Corporation: 
  

	 	(i)	to eliminate such Eligible Employee’s employment position; or 

  

	 	(ii)	to terminate such Eligible Employee’s employment in connection with a program intended to reduce the size of the Corporation’s workforce; or 

  

	 	(iii)	to terminate such Eligible Employee’s employment for a reason other than Cause. 

 A Qualifying Termination shall not mean termination of employment with the Corporation for any reason other than as set forth in clauses (i), (ii) and (iii) above, including, but not limited to: (A) a
termination of employment for Cause, (B) an Eligible Employee’s resignation or voluntary termination of employment for any reason, including retirement, (C) an Eligible Employee’s death or disability, or (D) the cessation of
an Eligible Employee’s employment with the Corporation as the result of the sale, spin-off or other divestiture of a plant, division, business unit or subsidiary, a merger or other business combination, or an outsourcing of a business unit of
the Corporation, followed by employment or reemployment with the purchaser or successor in interest to the Eligible Employee’s employer with regard to such plant, division, business unit or subsidiary, or an offer of employment by such
purchaser or successor in interest on terms and conditions reasonably comparable to the terms and conditions of the Eligible Employee’s employment with the Corporation immediately prior to such transaction. Whether a termination of employment
constitutes a Qualifying Termination shall be determined by the Plan Administrator in his or her sole discretion. 
  

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 6.7. “Restrictive Covenant” means any non-competition, non-solicitation, confidential
information or intellectual property covenants applicable to the Eligible Employee. 
 6.8. “Salary Continuation Period”
means the period indicated in Section 4 during which severance benefits are payable to a Participant under the Plan. 
 6.9.
“Taxes” means the federal, state, local and foreign income, employment, excise and other taxes payable by a Participant with respect to any applicable item of income. 
 6.10. “Termination Date” means the effective date of an Eligible Employee’s termination of employment with the Corporation.

 6.11. “Year of Service” means a Participant’s period of continuous, regular, employment with the Corporation
immediately preceding his or her Termination Date, including continuous employment with a predecessor employer purchased by the Corporation to the extent the Corporation recognized such service for benefit plan purposes at the time of the
acquisition. Such period of employment shall measured in whole years, with partial years rounded down to the nearest whole year. 
 7. FUNDING

 Nothing in the Plan shall be interpreted as requiring the Corporation to set aside any of its assets for the purpose of funding its
obligations under the Plan. No person entitled to benefits under the Plan shall have any right, title or claim in or to any specific assets of the Corporation, but shall have the right only as a general creditor to receive benefits from the
Corporation on the terms and conditions provided in the Plan. 
 8. ADMINISTRATION OF THE PLAN 
 The Plan shall be administered by the Senior Vice President, Human Resources of Rewards Network (the “Plan Administrator”), which shall
be the “named fiduciary” of the Plan for purposes of ERISA. The Plan Administrator has the sole and absolute power and authority to interpret and apply the provisions of this Plan to a particular circumstance, make all factual and legal
determinations, construe uncertain or disputed terms and make eligibility and benefit determinations in such manner and to such extent as the Plan Administrator, in his or her sole discretion may determine. Benefits under the Plan will be paid only
if the Plan Administrator, in his or her sole discretion, determines that an individual is entitled to them. 
 The Plan Administrator shall
promulgate any rules and regulations necessary to carry out the purposes of the Plan or to interpret the terms and conditions of the Plan. The rules, regulations and interpretations made by the Plan Administrator shall be applied on a uniform basis
and shall be final and binding on any Eligible Employee or former Eligible Employee and any successor in interest. 
 The Plan Administrator
may delegate any administrative duties, including, without limitation, duties with respect to the processing, review, investigation, approval and payment of severance pay, to designated individuals or committees. 
  

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 9. CLAIMS PROCEDURE 
 The Plan Administrator shall determine the status of an individual as an Eligible Employee and the eligibility and rights of any Eligible Employee or former Eligible Employee as a Participant to any severance pay
hereunder. Any Eligible Employee or former Eligible Employee who believes that he or she is entitled to receive severance pay under the Plan, including severance pay other than those initially determined by the Plan Administrator, may file a claim
in writing with the Plan Administrator. No later than 90 days after the receipt of the claim the Plan Administrator shall either allow or deny the claim in writing. 
 A denial of a claim, in whole or in part, shall be written in a manner calculated to be understood by the claimant and shall include the specific reason or reasons for the denial; specific reference to pertinent Plan
provisions on which the denial is based; a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; and an explanation of the claims
review procedure. 
 A claimant whose claim is denied (or his or her duly authorized representative) may, within 60 days after receipt of the
denial of his or her claim, request a review upon written application to the Corporation’s General Counsel; review pertinent documents; and submit issues and comments in writing. 
 The General Counsel shall notify the claimant of his or her decision on review within 60 days after receipt of a request for review unless special
circumstances require an extension of time for processing, in which case a decision shall be rendered as soon as possible, but not later than 120 days after receipt of a request for review. Notice of the decision on review shall be in writing. The
General Counsel’s decision on review shall be final and binding on any claimant or any successor in interest. 
 In reviewing a claim or
an appeal of a claim denial, the Plan Administrator or General Counsel shall have all of the powers and authority granted to the Plan Administrator pursuant to Section 8. 
 10. ARBITRATION 
 Any dispute, controversy or claim between the parties hereto arising out of
or in connection with or relating to Section 4 (other than disputes related to an alleged breach of the Restrictive Covenants) or any breach or alleged breach thereof, or any benefit or alleged benefit hereunder, shall be settled by
arbitration in Chicago, Illinois, before an impartial arbitrator pursuant to the rules and regulations of the American Arbitration Association (“AAA”) pertaining to the arbitration of commercial disputes. Any party may invoke the
right to arbitration. The arbitrator shall be selected by means of the parties striking alternatively from a panel of seven arbitrators supplied by the Chicago office of AAA. The arbitrator shall have the authority to interpret and apply the
provisions of this Section, consistent with Section 12.6 below. The decision of the arbitrator shall be final and binding upon the parties and a judgment thereon may be entered in the highest court of a forum, state or federal, having
jurisdiction. No arbitration shall be commenced after the date when institution of legal or equitable proceedings based upon such subject matter would be barred by the applicable statutes of limitations. Notwithstanding anything to the contrary
contained in this Section or elsewhere in this Plan, any party may bring an action in the District Court of Cook County, or the United States District 
  

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 Court for the Northern District of Illinois, if jurisdiction there lies, in order to maintain the status quo ante of the
parties. The “status quo ante” is defined as the last peaceable, uncontested status between the parties. However, neither the party bringing the action nor the party defending the action thereby waives its right to arbitration of any
dispute, controversy or claim arising out of or in connection or relating to this Plan. Notwithstanding anything to the contrary contained in this Section or elsewhere in this Plan, any party may seek relief in the form of specific performance,
injunctive or other equitable relief in order to enforce the decision of the arbitrator. The parties agree that in any arbitration commenced pursuant to this Plan, the parties shall be entitled to such discovery (including depositions, requests for
the production of documents and interrogatories) as would be available in a federal district court pursuant to Rules 26 through 37 of the Federal Rules of Civil Procedure. In the event that either party fails to comply with its discovery obligations
hereunder, the arbitrator shall have full power and authority to compel disclosure or impose sanctions to the full extent of Rule 37 of the Federal Rules of Civil Procedure. 
 11. AMENDMENT OR TERMINATION OF PLAN 
 The Corporation may amend, modify or terminate the Plan
at any time and without notice by written instrument adopted by the Compensation Committee of the Board or the Plan Administrator; provided, however, that no amendment, modification or termination shall deprive any Participant of any benefit that
the Plan Administrator previously has determined is payable under the Plan. 
 12. MISCELLANEOUS 
 12.1. Limitation on Rights. Participation in the Plan is limited to the individuals described in Sections 2 and 3, and the Plan
shall not apply to any voluntary or involuntary termination of employment that is not a Qualifying Termination. 
 12.2. No Mitigation.
A Participant shall not have any duty to mitigate the amounts payable by the Corporation under this Plan by seeking new employment following termination. Except as specifically otherwise provided in this Plan, all amounts payable pursuant to this
Plan shall be paid without reduction regardless of any amounts of salary, compensation or other amounts which may be paid or payable to the Participant as the result of the Participant’s employment by another employer. 
 12.3. Headings. Headings of sections in this document are for convenience only, and do not constitute any part of the Plan. 
 12.4. Severability. If any one or more Sections, subsections or other portions of this Plan are declared by any court or governmental authority to
be unlawful or invalid, such unlawfulness or invalidity shall not serve to invalidate any Section, subsection or other portion not so declared to be unlawful or invalid. Any Section, subsection or other portion so declared to be unlawful or invalid
shall be construed so as to effectuate the terms of such Section, subsection or other portion to the fullest extent possible while remaining lawful and valid. 
 12.5. Governing Law. The Plan shall be construed and enforced in accordance with ERISA and the internal laws of the State of Illinois (without regard to conflicts of law principles) to the extent such laws are
not preempted by ERISA. 
  

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 12.6. No Right to Continued Employment. Nothing in this Plan shall guarantee the right of an
Eligible Employee to continue in employment, and the Corporation retains the right to terminate an Eligible Employee’s employment at any time for any reason or for no reason. 
 12.7. Successors and Assigns. This Plan shall be binding upon and inure to the benefit of the Corporation and its successors and assigns and shall
be binding upon and inure to the benefit of a Participant and his or her legal representatives, heirs and assigns. Any successor to the business or assets of the Corporation which assumes or agrees to perform this Plan by operation of law, contract,
or otherwise shall be jointly and severally liable with the Corporation under this Plan as if such successor were the Corporation. 
 No
rights, obligations or liabilities of a Participant hereunder shall be assignable without the prior written consent of Rewards Network. In the event of the death of a Participant prior to receipt of severance pay to which he or she is entitled
hereunder (and after the Participant has signed the Waiver and Release), the severance pay described in Section 4 shall be paid to his or her estate; provided that the estate or other successor of the Participant has not revoked such
Waiver and Release. 
 12.8. Notices. All notices and other communications under this Plan shall be in writing and delivered by hand,
by nationally-recognized delivery service that promises overnight delivery, or by first-class registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

	 	(i)	if to a Participant, to such Participant at his or her most recent home address on file with the Corporation, 

  

	 	(ii)	if to the Corporation, to the Plan Administrator, 

 or to
such other address as either party shall have furnished to the other in writing. Notice and communications shall be effective when actually received by the addressee. 
 12.9. Number and Gender. Wherever appropriate, the singular shall include the plural, the plural shall include the singular, and the masculine shall include the feminine. 
 12.10. Tax Withholding. The Corporation may withhold from any amounts payable under this Plan or otherwise payable to a Participant any Taxes the
Corporation determines to be appropriate under applicable law and may report all such amounts payable to such authority as is required by any applicable law or regulation. 
 12.11. Compliance with Section 409A. The timing under which a Participant has a right to receive any payment under the Plan will automatically be modified, and a Participant’s rights under the Plan
shall be limited as necessary, to conform to any requirements under Section 409A of the Code, to the extent applicable to this Plan. 
  

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 13. ADMINISTRATIVE INFORMATION 
  

			
		
	Plan Sponsor:	  	Rewards Network Inc.
		
	Address:	  	 2 North Riverside Plaza, Suite 950
 Chicago, IL
60606

		
	Employer Identification Number:	  	84-6028875
		
	Plan Administrator:	  	Senior Vice President, Human Resources
		
	Address and Telephone:	  	 Rewards Network Inc.
 2 North Riverside Plaza, Suite
950
 Chicago, IL 60606
 312-521-6747

		
	Agent for Service of Legal Process:	  	 General Counsel
 Rewards Network Inc.
 2 North Riverside Plaza, Suite 950
 Chicago, IL 60606

		
	Plan Number:	  	503
		
	Type of Plan:	  	Severance benefit plan (welfare)
		
	Plan Year:	  	Calendar year

 14. ERISA RIGHTS 
 As a Participant in the Plan, you are entitled to certain rights and protections under ERISA. ERISA provides that all Participants shall be entitled to: 
  

	 	•	 	Examine, without charge, at the Plan Administrator’s office all Plan documents and copies of all documents filed by the Plan with the U.S. Department of Labor; and

  

	 	•	 	Obtain copies of all Plan documents and other Plan information upon written request to the Plan Administrator. The Plan Administrator may make a reasonable charge for the copies.

 As a participant in this Plan you are entitled to certain rights and protections under ERISA. ERISA provides that all Plan
participants shall be entitled to: 
  

	 	•	 	Examine, without charge, at the Plan Administrator’s office and at other specified locations all documents governing the Plan and a copy of the latest annual report (Form 5500
Series) filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration. 

  

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	 	•	 	Obtain, upon written request to the Plan Administrator, copies of documents governing the operation of the Plan and copies of the latest annual report (Form 5500 series) and updated
summary plan description. The Plan Administrator may make a reasonable charge for the copies. 

 In addition to creating rights
for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the Plan. The people who operate the Plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you and
other Plan participants and beneficiaries. No one, including your employer or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a benefit or exercising your rights under ERISA. 

If your claim for a benefit is denied or ignored, in whole or in part, you have a right to know why this was done, to obtain copies of documents
relating to the decision without charge, and to appeal any denial, all within certain time schedules. 
 Under ERISA, there are steps you can
take to enforce the above rights. For instance, if you request materials from the Plan and do not receive them within 30 days, you may file suit in a federal court. In such a case, the court may require the Plan Administrator to provide the
materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator. 
 If you have a claim for benefits which is denied or ignored, in whole or in part, you may file suit in a state or federal court. If it should happen that
you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in federal court. The court will decide who should pay court costs and legal fees. If you are successful, the
court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous. 
 If you have any questions about this statement or about your rights under ERISA, you should contact: 
  

	 	•	the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory; or 

  

	 	•	the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210.

  

	 	•	You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.

  

 - 10 -Amendment to Agreement between Rewards Network and American Express Travel

 Exhibit 10.39 
 AMENDMENT 
 This Amendment, effective as of March 13, 2006, amends the Agreement effective September 19,
2005 (Agreement) between American Express Travel Related Services Company, Inc., a New York corporation (AXP), and Rewards Network Services Inc., a Delaware corporation (RN). 
 Capitalized terms used but not defined herein have the meaning ascribed to them in the Agreement. Except as specifically set forth herein, the provisions of the
Agreement remain unchanged. 
 A. RN operates a rewards/loyalty program in the United States and Canada that entitles (i) individuals to earn
rewards by spending at Service Establishments and other merchants that participate in RN’s Frequency Programs and (ii) Service Establishments and other merchants to obtain services, including but not limited to one or more of the
following: marketing, access to capital, business intelligence reporting and loyal customers, through direct contractual relationships with RN. Individuals apply to become Frequency Program members, among several things, by registering, designating
their payment cards to receive credits under the Frequency Program, by agreeing to RN’s terms of membership, and by granting all required consent (either directly to RN or directly to AXP, depending upon the applicable Frequency Program) to the
collection, use, and disclosure of their personal information (such individuals who have become members of RN’s Frequency Programs and registered their American Express® Cards, RN Program Cardmembers). 
 B. The parties shall safeguard this information through an agreed upon enciphering method and hereby amend the terms of the Agreement to provide additional safeguards for all Cardmember information. 

The parties agree as follows: 
 1.
Scope of Agreement 
 The Agreement applies to RN’s Frequency Programs in the United States and Canada. 

2. RN Disclosures and Consents 
 a. RN represents and
warrants to AXP that RN makes the following disclosures to Cardmembers who become RN Program Cardmembers: (i) description of all personal information and all Cardmember and transactional data that RN collects, including indication of all
potential sources of such data including that such data is collected from Service Establishments and other merchants, payment card processors, or credit card companies, or any or all of them, (ii) identity of the collector of personal
information, (iii) purposes for which personal information will be used (including for administration of RN’s Frequency Programs), (iv) to whom the personal information, or portions thereof, may be disclosed, including the applicable
RN partner and the recipients or categories of recipients of the personal information, (v) whether providing personal information is voluntary or obligatory, and (vi) right of access and right to correct personal information. RN shall
provide to RN Program Cardmembers a method to update and correct their personal information (and, with respect to RN’s Frequency Programs in Canada, the right of access to their personal information). 
 b. RN shall obtain, from Cardmembers who enroll directly with RN to become RN Program Cardmembers, all consents required by applicable law for its collection, use, and
disclosure of personal information. RN shall archive evidence of such consent, and provide AXP, on request from time to time, evidence that RN has provided disclosure to such a RN Program Cardmember and that such a RN Program Cardmember has given
the required consent. 
 3. Transmission of the Shadow File 
 The parties shall follow the procedures set forth in Exhibit A hereto for transmitting and handling the Shadow File. 
 4. Insurance 
 RN shall provide and maintain in effect at all times
during the term of this Agreement, at its sole expense, the minimum insurance coverage set forth in Schedule B hereto to protect the parties from any liability that may arise out of or result from the Agreement, whether such liability arises during
RN’s performance or subsequent to completion of its performance thereunder. These insurance requirements shall not in any way limit RN’s indemnity obligations to AXP, nor shall they relieve or decrease the liability of RN in any way. AXP
does not in any way represent that the insurance or limits of insurance specified herein are sufficient or adequate to protect RN’s interests or liabilities. RN is responsible at RN’s sole expense for providing any additional insurance
that it deems necessary to protect those interests and liabilities. 
 5. Data Security 
 Notwithstanding anything to the contrary, RN shall abide by the information protection contract requirements (IPCR) set forth in Schedule C hereto. RN acknowledges that AXP’s current Data Security
Operating Policies are appended to the IPCR. 
 6. Audit 
 a. Without waiving AXP’s other audit rights under the Agreement, RN shall provide to AXP, its auditors (including 

  

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internal staff and independent auditors), inspectors, regulators, and other representatives as AXP may from time to time designate in writing upon fifteen
days advance notice, not more often than two times per year, access at reasonable times (and in the case of regulators at any time required by such regulators) to any facility at which RN performs the Agreement, to RN personnel, and to data and
records for the purpose of performing audits and inspections of RN. The scope of these audits and inspections shall be at AXP’s sole cost and expense and shall be limited to examining RN’s performance of the Agreement and conformance to
the terms thereof, including, to the extent applicable, by performing audits: (i) of practices and procedures; (ii) of systems, equipment, and software; (iii) of supporting information and calculations regarding compliance with
service level standards; (iv) of general controls and security practices and procedures; (v) of disaster recover and back-up procedures; and (vi) as reasonably necessary to enable AXP to meet, or to confirm that RN is meeting,
applicable regulatory and other legal requirements. 
 b. RN shall provide to such auditors, inspectors, regulators, and other representatives such
reasonable assistance as they request and cooperate with AXP or its designees in connection with audit functions and with regard to examinations by regulators. 
 c. AXP’s auditors and other representatives shall comply with RN’s reasonable security requirements and shall use commercially reasonable efforts to schedule and conduct audits in a manner that does not unreasonably
interfere with RN’s ordinary business operations. 
 d. Following an audit or examination, AXP will provide RN on request with a copy of the
final audit report. In addition, AXP may conduct, or request its independent auditors or examiners to conduct, an exit conference with RN to obtain factual concurrence with issues identified in the report. AXP may disclose the results of any such
audit report, review, and examination to its regulators. The parties shall meet promptly to review each audit report after its issuance and to agree upon the appropriate manner, if any, in which to respond to the changes suggested by the audit
report. If RN determines in its sole discretion that suggested changes contained in an audit report will require an unreasonable amount of personnel time or expense to resolve to AXP’s reasonable satisfaction, then RN may terminate the
Agreement upon 30 days’ advance written notice to AXP. 
 7. Termination 
 a. Nothing to the contrary withstanding, AXP may terminate the Agreement effective immediately by notice to RN if RN breaches any of the information protection requirements in Schedule B, or the covenants in
Sections 2 and 3 above, and such breaches are not cured within thirty days after receipt of notice thereof. 
 b. All provisions of the Agreement that
by their context are intended to survive termination, including Sections 8.b (Confidential Information), 8.d (Limitation of Liability), 8.e (Indemnification), and 8.m (Dispute Resolution, as added below), as well as RN’s liability for any fees
assessed against RN pursuant to this Amendment, shall survive termination of the Agreement. 
 8. Notices – AXP’s address to receive notices
is changed as follows: 
 To American Express at: 
 American Express Travel Related Services Company, Inc. 
 18850 North 56th Street 
 Phoenix, AZ 85054 
 Attn: Vice President,
Network Development 
 with a copy to: 
 American Express Travel Related Services Company, Inc. 
 3 World Financial Center 
 200 Vesey Street, Floor 49 
 New York, NY
10285-4902 
 Attn: General Counsel’s Office, ES Counsel 
 9. Miscellaneous 
 a. The fourth sentence of Section 8.b (Confidential Information) of the Agreement is
deleted and the following sentence inserted at the end of that subsection: 
 “The confidentiality obligations contained in this subsection shall not
apply to information that: (i) is already known to a party prior to disclosure by the other party; (ii) is or becomes available to the public through no breach of this subsection by the other party; (iii) is rightfully received from a
third party by the other party without a duty of confidentiality; (iv) is independently developed by a party; or (v) is required to be disclosed by law, regulation, or court order, provided that the disclosing party shall use reasonable
efforts to notify the other party prior to disclosure.” 
 b. Section 8.l of the Agreement is replaced in
its entirety with the following subsection. 
 “l. Governing Law - This Agreement is governed by and will be construed according to the
laws of the State of New York without regard to internal principles of conflicts of law. Any action by either party shall be brought in the appropriate federal or state court located in the County and State of New York. Each party consents to the
exclusive jurisdiction of such court and waives any claim of lack of jurisdiction or forum non conveniens.” 
  

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 c. Section 8.m (Negotiation/Mediation of Disputes) of the Agreement is replaced in its entirety with the
following subsection. 
 “m. Dispute Resolution 
 i. All Claims arising out of or in connection with this Agreement will be resolved pursuant to this section rather than by litigation. Claim means any claim
(including initial claims, counterclaims, cross-claims, and third party claims), dispute, or controversy between the parties arising from or relating to this Agreement, or the relationship resulting from this Agreement, whether based in contract,
tort (including negligence, strict liability, fraud, or otherwise), or statutes, regulations, or any other theory. In the event of any Claim, the parties will use commercially reasonable efforts to settle the Claim. To this effect, the party
asserting the Claim will provide notice thereof to the other party, and they will meet and negotiate with each other and, recognizing their mutual interests, attempt, in good faith, to reach a solution satisfactory to both parties. If they do not
reach a solution within a period of sixty days from the first meeting of the parties in negotiation, then the parties will attempt to settle the Claim through mediation, as described in subsection ii. below. 
 ii. Any Claim that has not been resolved pursuant to subsection a. above will be resolved, upon the election by either party, through mediation administered by an
entity or organization located in New York, New York mutually agreed upon by the parties. The parties will share equally in the costs of mediation. If they do not reach a solution within a period of sixty days from the first meeting of the parties
in mediation, then the parties will settle the Claim through binding arbitration, as described in subsection iii. below. 
 iii. Any Claim that has
not been resolved pursuant to subsection i. or ii. above will be resolved, upon the election by either party, through arbitration. The party asserting the Claim will select one of the following arbitration organizations, which will apply its rules
in effect at the time the Claim is filed. In the event of an inconsistency between this section and any rule or procedure of the arbitration organization, this section will control. The party asserting the Claim will simultaneously notify the other
party of its selection. If AXP’s selection is not acceptable to RN, then RN may select another of the following organizations within thirty days after it receives notice of our initial selection. Any arbitration hearing that RN attends will
take place in the federal judicial district where its headquarters is located. 
  

	 	•	 	National Arbitration Forum (NAF); P.O. Box 50191, Minneapolis, MN 55404-0191; 1-800-474-2371; www.arbitration-forum.com 

  

	 	•	 	American Arbitration Association (AAA): 335 Madison Avenue, New York, NY 10017; 1-800-778-7879; www.adr.org 

 iv. IF ARBITRATION IS CHOSEN BY ANY PARTY WITH RESPECT TO A CLAIM, NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM IN COURT OR HAVE A JURY TRIAL ON THAT
CLAIM, OR TO ENGAGE IN PRE-ARBITRATION DISCOVERY EXCEPT AS PROVIDED FOR IN THE RULES OR PROCEDURES OF NAF OR AAA, AS APPLICABLE. FURTHER, RN WILL NOT HAVE THE RIGHT TO PARTICIPATE IN A REPRESENTATIVE CAPACITY OR AS A MEMBER OF ANY CLASS OF CLAIMANTS
PERTAINING TO ANY CLAIM SUBJECT TO ARBITRATION. NOTE THAT OTHER RIGHTS THAT IT WOULD HAVE IN COURT MAY ALSO NOT BE AVAILABLE IN ARBITRATION. 
 v. All
parties to the arbitration must be individually named. There will be no right or authority for any Claims to be arbitrated or litigated on a class-action or consolidated basis, on behalf of the general public or other parties, or joined or
consolidated with claims of other parties, and the parties are specifically barred from doing so. The arbitrator’s authority to resolve Claims is limited to Claims between the parties alone, and the arbitrator’s authority to make
awards is limited to awards to the parties alone. 
 vi. The arbitrator will have the power and authority to grant equitable relief (e.g., injunction,
specific performance) and, cumulative with all other remedies, will grant specific performance whenever possible. The arbitrator will have no power or authority to alter this Agreement or any of its separate provisions, including this section, nor
to determine any matter or make any award except as provided in this section. 
 vii. Injunctive relief sought to enforce the confidentiality
provisions of this Agreement will not be subject to the requirements of this section. This section is not intended to, and does not, substitute for AXP’s ordinary business practices, policies, and procedures, including its rights to impose
fees. 
 viii. This section is made pursuant to a transaction involving interstate commerce and will be governed by the Federal Arbitration Act, 9
U.S.C. Sections 1-16 (FAA). The arbitrator will apply New York law and applicable statutes of limitations, honor claims of privilege recognized by law and, at the timely request of either party, provide a written and reasoned opinion
explaining his or her decision. The arbitrator will apply the rules of the arbitration organization selected, as applicable to matters relating to evidence and discovery, not the federal or any state rules of civil procedure 

  

 3 

 
or rules of evidence. The arbitrator’s decision will be final and binding, except for any rights of appeal provided by the FAA or if the amount of the
award exceeds US$100,000, any party can appeal that award to a three-arbitrator panel administered by NAF or AAA, as applicable, which will reconsider de novo any aspect of the initial award requested by majority vote and will be final and binding.
The decision of that three person panel may be appealed as provided by the FAA. The costs of such an appeal will be borne by the appellant regardless of the outcome of the appeal. The arbitration proceeding and all testimony, filings, documents, and
any information relating to or presented during the proceedings will be deemed to be confidential information not to be disclosed to any other party. Judgment upon the award rendered by the arbitrator may be entered in any state or federal court in
the federal judicial district where RN’s headquarters is located. 
 ix. All offers, promises, conduct, and statements, whether written or oral,
made in the course of the negotiations, mediations, arbitrations, and proceedings to confirm arbitration awards by either party, its agents, employees, experts or attorneys, or by the mediator or arbitrator, are confidential, privileged, and
inadmissible for any purpose, including impeachment or estoppel, in any other litigation or proceeding involving any of the parties, provided that evidence that is otherwise admissible or discoverable will not be rendered inadmissible or
non-discoverable as a result of its use in the negotiation, mediation, or arbitration. 
 x. Either party may seek equitable relief in arbitration
prior to arbitration on the merits to preserve the status quo pending completion of such process. This section may be enforced by any court of competent jurisdiction, and the party seeking enforcement will be entitled to an award of all costs,
including legal fees, to be paid by the party against whom enforcement is ordered.” 
 d. A new
Section 14.n is added to the Agreement as follows: 
 “n. Interpretation - In construing this Agreement, unless the context requires
otherwise: (i) the singular includes the plural and vice versa; (ii) the term or is not exclusive; (iii) the term including means “including, but not limited to;” (iv) the term day means calendar
day; (v) any reference to any agreement (including this Agreement), instrument, contract, policy, procedure, or other document refers to it as amended, supplemented, modified, suspended, replaced, restated, or novated from time to time; and
(vi) all captions, headings, and similar terms are for reference only.” 
 10. Press Releases and Public Announcements 
 Except as required by law, RN shall not make any disclosure to the public, whether in the form of a press release or otherwise, in respect of this Agreement or AXP except
with the prior written consent of AXP. RN shall notify AXP reasonably in advance of any filings containing references to AXP that RN intends to make with regulatory or governmental agencies. 
 11. Compliance with Law 
 Each party shall comply with all applicable
laws, regulations, and rules, including all applicable privacy and data security laws. 
 The parties have caused their duly authorized representatives to
execute this Amendment as of the date first written above. 
 AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC. 
  

			
	 By:
	 	 /s/ Seana Pitt

		 	Seana Pitt
		 	Vice President, Network Development
	
	REWARDS NETWORK SERVICES INC.
		
	 By:
	 	 /s/ Ronald L. Blake

	 Name:
	 	Ronald L. Blake
	 Title:
	 	President and Chief Executive Officer

  

 4

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