Document:

2011 Equity Incentive Plan

 Exhibit 10.15 
 LOYALTY ALLIANCE ENTERPRISE CORPORATION 
 2011 EQUITY INCENTIVE PLAN

 1. Purposes of the Plan. The purposes of this Plan are: 

 

	 	•	 	 to attract and retain the best available personnel for positions of substantial responsibility, 

 

	 	•	 	 to provide additional incentive to Employees, Directors and Consultants, and 

 

	 	•	 	 to promote the success of the Company’s business. 

 The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted Shares, Restricted Share Units, Share Appreciation Rights, Performance Units and Performance Shares.

 2. Definitions. As used herein, the following definitions will apply: 

(a) “Administrator” means the Board or any of its Committees as will be administering the Plan, in accordance with
Section 4 of the Plan. 
 (b) “ADS” means an American Depository Share corresponding to a Share or Shares,
as applicable. 
 (c) “Applicable Laws” means the requirements relating to the administration of equity-based
awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Plan Shares are listed or quoted and the applicable laws of any foreign country or jurisdiction where
Awards are, or will be, granted under the Plan. 
 (d) “Award” means, individually or collectively, a grant
under the Plan of Options, Share Appreciation Rights, Restricted Shares, Restricted Share Units, Performance Units or Performance Shares. 
 (e) “Award Agreement” means the written or electronic agreement setting forth the terms and provisions applicable to each Award granted under the Plan. The Award Agreement is subject to
the terms and conditions of the Plan. 
 (f) “Board” means the Board of Directors of the Company. 

(g) “Change in Control” means the occurrence of any of the following events: 

(i) A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group
(“Person”), acquires ownership of the shares of the Company that, together with the shares held by such Person, constitutes more than fifty percent (50%) of the total voting power of the shares of the Company; provided,
however, that for purposes of this subsection (i), the acquisition of additional shares by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the shares of the Company will not be considered a
Change in Control; or 

  
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 (ii) A change in the effective control of the Company which occurs on the date that a
majority of members of the Board is replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes
of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or 

(iii) A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires
(or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than 50% of the total gross
fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following will not constitute a change in the ownership of a substantial
portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s shareholders immediately after the transfer, or (B) a transfer of assets by the Company to: (1) a shareholder of the Company
(immediately before the asset transfer) in exchange for or with respect to the Company’s shares, (2) an entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company, (3) a Person,
that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding shares of the Company, or (4) an entity, at least 50% of the total value or voting power of which is owned, directly or indirectly, by a
Person described in this subsection (iii)(B)(3). For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities
associated with such assets. 
 For purposes of this Section 2(g), persons will be considered to be acting as a group if
they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of shares, or similar business transaction with the Company. 
 (h) “Code” means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will be a reference to any successor or amended section of the Code.

 (i) “Committee” means a committee of Directors or of other individuals satisfying Applicable Laws appointed
by the Board in accordance with Section 4 hereof. 
 (j) “Company” means Loyalty Alliance Enterprise
Corporation, a Cayman Islands corporation, or any successor thereto. 
 (k) “Consultant” means any person,
including an advisor, engaged by the Company or a Parent or Subsidiary to render services to such entity. 
 (l)
“Director” means a member of the Board. 

  
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 (m) “Disability” means total and permanent disability as defined in
Section 22(e)(3) of the Code, provided that in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and
non-discriminatory standards adopted by the Administrator from time to time. 
 (n) “Employee” means any
person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment”
by the Company. 
 (o) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(p) “Exchange Program” means a program under which (i) outstanding Awards are surrendered or cancelled in exchange
for Awards of the same type (which may have higher or lower exercise prices and different terms), Awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any outstanding Awards to a financial
institution or other person or entity selected by the Administrator, and/or (iii) the exercise price of an outstanding Award is reduced. The Administrator will determine the terms and conditions of any Exchange Program in its sole discretion.

 (q) “Fair Market Value” means, as of any date, the value of Plan Shares as the Administrator may determine
in good faith by reference to the price of such shares on any established stock exchange or a national market system on the day of determination if the Plan Shares are so listed on any established stock exchange or a national market system. If the
Plan Shares are not listed on any established stock exchange or a national market system, the value of Plan Shares will be as the Administrator may determine in good faith. 
 (r) “Fiscal Year” means the fiscal year of the Company. 
 (s)
“Incentive Stock Option” means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 

(t) “Inside Director” means a Director who is an Employee. 

(u) “Nonstatutory Stock Option” means an Option that by its terms does not qualify or is not intended to qualify as an
Incentive Stock Option. 
 (v) “Officer” means a person who is an officer of the Company within the meaning of
Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 
 (w) “Option” means
a stock option granted pursuant to the Plan. 
 (x) “Ordinary Share” means an ordinary share of the Company.

 (y) “Outside Director” means a Director who is not an Employee. 

  
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 (z) “Parent” means a “parent corporation,” whether now or
hereafter existing, as defined in Section 424(e) of the Code. 
 (aa) “Participant” means the holder of an
outstanding Award. 
 (bb) “Performance Share” means an Award denominated in Plan Shares which may be earned in
whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10. 
 (cc) “Performance Unit” means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which
may be settled for cash, Plan Shares or other securities or a combination of the foregoing pursuant to Section 10. 
 (dd)
“Period of Restriction” means the period during which the transfer of Restricted Shares are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the
passage of time, the achievement of target levels of performance, or the occurrence of other events as determined by the Administrator. 
 (ee) “Plan” means this 2011 Equity Incentive Plan. 
 (ff)
“Plan Shares” means, as applicable, Ordinary Shares or ADSs. 
 (gg) “Registration Date” means
the effective date of the first registration statement that is filed by the Company and declared effective pursuant to Section 12(g) of the Exchange Act, with respect to any class of the Company’s securities. 

(hh) “Restricted Share” means a Plan Share issued pursuant to a Restricted Share award under Section 7 of the Plan,
or issued pursuant to the early exercise of an Option. 
 (ii) “Restricted Share Unit” means a bookkeeping
entry representing an amount equal to the Fair Market Value of one Plan Share, granted pursuant to Section 8. Each Restricted Share Unit represents an unfunded and unsecured obligation of the Company. 

(jj) “Rule 16b-3” means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is
being exercised with respect to the Plan. 
 (kk) “Section 16(b)” means Section 16(b) of the Exchange
Act. 
 (ll) “Service Provider” means an Employee, Director or Consultant. 

(mm) “Share” means an Ordinary Share, as adjusted in accordance with Section 13 of the Plan. 

(nn) “Share Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to
Section 9 is designated as a Share Appreciation Right. 

  
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 (oo) “Subsidiary” means a “subsidiary corporation”, whether now
or hereafter existing, as defined in Section 424(f) of the Code. 
 3.
Shares Subject to the Plan. 
 (a) Shares Subject to the Plan. Subject to
the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan is such number of Shares as shall be equal to 10,000,000 Shares, plus (i) any Shares that, as of the Registration Date, have
been reserved but not issued pursuant to any awards granted under the Company’s 2009 Equity Incentive Plan (the “Existing Plan”) and are not subject to any awards granted thereunder, and (ii) any Shares subject to stock
options or similar awards granted under the Existing Plan that expire or otherwise terminate without having been exercised in full and Shares issued pursuant to awards granted under the Existing Plan that are forfeited to or repurchased by the
Company, with the maximum number of Shares to be added to the Plan pursuant to clauses (i) and (ii) equal to 10,750,000 Shares. The Shares may be authorized, but unissued, or reacquired Shares. 

(b) Automatic Share Reserve Increase. The number of Shares available for issuance under the Plan will be increased on the first
day of each Fiscal Year beginning with the 2012 Fiscal Year, in an amount equal to the least of (i) 6,000,000 Shares, (ii) four percent (4%) of the outstanding Shares on the last day of the immediately preceding Fiscal Year or
(iii) such number of Shares determined by the Board. 
 (c) Lapsed Awards. If an Award expires or becomes
unexercisable without having been exercised in full, is surrendered pursuant to an Exchange Program, or, with respect to Restricted Shares, Restricted Share Units, Performance Units or Performance Shares, is forfeited to or repurchased by the
Company due to failure to vest, the unpurchased Shares (or for Awards other than Options or Share Appreciation Rights, the forfeited or repurchased Shares) which were subject thereto will become available for future grant or sale under the Plan
(unless the Plan has terminated). With respect to Share Appreciation Rights, only Shares actually issued (i.e., the net Shares issued) pursuant to a Share Appreciation Right will cease to be available under the Plan; all remaining Shares under
Share Appreciation Rights will remain available for future grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been issued under the Plan under any Award will not be returned to the Plan and will not become
available for future distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Shares, Restricted Share Units, Performance Shares or Performance Units are repurchased by the Company or are forfeited to
the Company, such Shares will become available for future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations related to an Award will become available for future grant or sale under
the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the foregoing and, subject to
adjustment as provided in Section 13, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 3(a), plus, to the extent allowable under
Section 422 of the Code and the Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan pursuant to Sections 3(b) and 3(c). 

  
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 (d) Share Reserve. The Company, during the term of this Plan, will at all times
reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of the Plan. 
 (e)
Application to ADSs. For purposes of calculating the number of Shares issued under this Plan (and for purposes of calculating any other Share limit set forth herein), the issuance of an ADS shall be deemed to equal one Share, provided,
however, that if the number of Shares represented by an ADS is other than on a one-to-one basis, the number of Shares issued under this Plan (and any other Share limit set forth herein) shall be adjusted to reflect such issuance of ADSs. 

4. Administration of the Plan. 
 (a) Procedure. 
 (i) Multiple Administrative Bodies. Different
Committees with respect to different groups of Service Providers may administer the Plan. 
 (ii) Section 162(m).
To the extent that the Administrator determines it to be desirable to qualify Awards granted hereunder as “performance-based compensation” within the meaning of Section 162(m) of the Code, the Plan will be administered by a Committee
of two (2) or more “outside directors” within the meaning of Section 162(m) of the Code. 
 (iii) Rule
16b-3. To the extent desirable to qualify transactions hereunder as exempt under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3. 

(iv) Other Administration. Other than as provided above, the Plan will be administered by (A) the Board or (B) a
Committee, which committee will be constituted to satisfy Applicable Laws. 
 (b) Powers of the Administrator. Subject to
the provisions of the Plan, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: 

(i) to determine the Fair Market Value; 
 (ii) to select the Service Providers to whom Awards may be granted hereunder; 

(iii) to determine the number of Plan Shares to be covered by each Award granted hereunder; 

(iv) to approve forms of Award Agreements for use under the Plan; 

(v) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and
conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or
limitation regarding any Award or the Plan Shares relating thereto, based in each case on such factors as the Administrator will determine; 

  
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 (vi) to determine the terms and conditions of any, and to institute any Exchange Program;

 (vii) to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan; 

(viii) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans
established for the purpose of satisfying applicable foreign laws; 
 (ix) to modify or amend each Award (subject to
Section 18(c) of the Plan), including but not limited to the discretionary authority to extend the post-termination exercisability period of Awards; 
 (x) to allow Participants to satisfy withholding tax obligations in such manner as prescribed in Section 14; 
 (xi) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the Administrator; 

(xii) to allow a Participant to defer the receipt of the payment of cash or the delivery of Plan Shares that would otherwise be due to
such Participant under an Award; and 
 (xiii) to make all other determinations deemed necessary or advisable for administering
the Plan. 
 (c) Effect of Administrator’s Decision. The Administrator’s decisions, determinations and
interpretations will be final and binding on all Participants and any other holders of Awards. 
 5. Eligibility.
Nonstatutory Stock Options, Share Appreciation Rights, Restricted Shares, Restricted Share Units, Performance Shares and Performance Units may be granted to Service Providers. Incentive Stock Options may be granted only to Employees. 

6. Stock Options. 
 (a) Grant of Stock Options. Subject to the terms and conditions of the Plan, an Option may be granted to Service Providers at any time and from time to time as will be determined by the
Administrator, in its sole discretion. Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding such designation, to the extent that the aggregate Fair Market
Value of the Plan Shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars
($100,000), such Options will be treated as Nonstatutory Stock Options. For purposes of this Section 6(a), Incentive Stock Options will be taken into account in the order in which they were granted. The Fair Market Value of the Plan Shares will
be determined as of the time the Option with respect to such Plan Shares is granted. 

  
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 (b) Number of Shares. The Administrator will have complete discretion to determine
the number of Plan Shares subject to an Option granted to any Participant. 
 (c) Exercise Price and Other Terms. The
Administrator, subject to the provisions of the Plan, will have complete discretion to determine the terms and conditions of Options granted under the Plan, provided, however, that the exercise price will not be less than one hundred percent
(100%) of the Fair Market Value of a Plan Share on the date of grant. In addition, in the case of an Incentive Stock Option granted to an employee of the Company or any Parent or Subsidiary of the Company who, at the time the Incentive Stock
Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of shares of the Company or any Parent or Subsidiary, the per Plan Share exercise price will be no less than one hundred ten percent
(110%) of the Fair Market Value per Plan Share on the date of grant. Notwithstanding the foregoing provisions of this Section 6(c), Options may be granted with a per Plan Share exercise price of less than one hundred percent (100%) of
the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code and the Treasury Regulations thereunder. 

(d) Option Agreement. 
 (i) Terms and Conditions. Each Option grant will be evidenced by an Award Agreement that will specify the exercise price, the term of the Option, the acceptable forms of consideration for exercise
(which may include any form of consideration permitted by Section 6(d)(ii), the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine. 

(ii) Form of Consideration. The Administrator will determine the acceptable form of consideration for exercising an Option,
including the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form of consideration at the time of grant. Such consideration may consist entirely of: (1) cash; (2) check;
(3) promissory note, to the extent permitted by Applicable Laws, (4) other Shares, provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Plan Shares as to which such Option
will be exercised and provided that accepting such Shares will not result in any adverse accounting consequences to the Company, as the Administrator determines in its sole discretion; (5) consideration received by the Company under a
broker-assisted (or other) cashless exercise program (whether through a broker or otherwise) implemented by the Company in connection with the Plan; (6) by net exercise; (7) such other consideration and method of payment for the issuance
of Plan Shares to the extent permitted by Applicable Laws; or (8) any combination of the foregoing methods of payment. 

(e) Term of Option. The term of each Option will be stated in the Award Agreement. In the case of an Incentive Stock Option, the
term will be ten (10) years from the date of grant or such shorter term as may be provided in the Award Agreement. Moreover, in the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is
granted, owns Shares representing more than ten percent (10%) of the total combined voting power of all classes of Shares of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five (5) years from the
date of grant or such shorter term as may be provided in the Award Agreement. 

  
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 (f) Exercise of Option. 

(i) Procedure for Exercise; Rights as a Shareholder. Any Option granted hereunder will be exercisable according to the terms of
the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Plan Share. 

An Option will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the Administrator will
specify from time to time) from the person entitled to exercise the Option, and (ii) full payment for the Plan Shares with respect to which the Option is exercised (together with applicable withholding taxes). Full payment may consist of any
consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Plan Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested by the Participant,
in the name of the Participant and his or her spouse. Until the Plan Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends
or any other rights as a shareholder will exist with respect to the Plan Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Plan Shares promptly after the Option is exercised.
No adjustment will be made for a dividend or other right for which the record date is prior to the date the Plan Shares are issued, except as provided in Section 13 of the Plan. 

Exercising an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale
under the Option, by the number of Shares as to which the Option is exercised. 
 (ii) Termination of Relationship as a
Service Provider. If a Participant ceases to be a Service Provider, other than upon the Participant’s death or Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to
the extent that the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will
remain exercisable for three (3) months following the Participant’s termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered
by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option
will revert to the Plan. 
 (iii) Disability of Participant. If a Participant ceases to be a Service Provider as a
result of the Participant’s Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the Option is vested on the date of termination (but in no event later than
the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following the Participant’s termination.
Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the
Participant does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

  
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 (iv) Death of Participant. If a Participant dies while a Service Provider, the
Option may be exercised following the Participant’s death within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of death (but in no event may the option be exercised later than the
expiration of the term of such Option as set forth in the Award Agreement), by the Participant’s designated beneficiary, provided such beneficiary has been designated prior to Participant’s death in a form acceptable to the Administrator.
If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s
will or in accordance with the laws of descent and distribution. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following Participant’s death. Unless otherwise provided
by the Administrator, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not so exercised within the time
specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 
 7. Restricted
Shares. 
 (a) Grant of Restricted Shares. Subject to the terms and provisions of the Plan, the Administrator, at any
time and from time to time, may grant Restricted Shares to Service Providers in such amounts as the Administrator, in its sole discretion, will determine. 
 (b) Restricted Share Agreement. Each Award of Restricted Shares will be evidenced by an Award Agreement that will specify the Period of Restriction, the number of Plan Shares granted, and such
other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines otherwise, the Company as escrow agent will hold Restricted Shares until the restrictions on such Plan Shares have lapsed.

 (c) Transferability. Except as provided in this Section 7, Restricted Shares may not be sold, transferred,
pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction. 
 (d) Other
Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Restricted Shares as it may deem advisable or appropriate. 
 (e) Removal of Restrictions. Except as otherwise provided in this Section 7, Restricted Shares covered by each Restricted Share grant made under the Plan will be released from escrow as soon
as practicable after the last day of the Period of Restriction or at such other time as the Administrator may determine. The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed. 

  
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 (f) Voting Rights. During the Period of Restriction, Service Providers holding
Restricted Shares granted hereunder may exercise full voting rights with respect to those Plan Shares, unless the Administrator determines otherwise. 
 (g) Dividends and Other Distributions. During the Period of Restriction, Service Providers holding Restricted Shares will be entitled to receive all dividends and other distributions paid with
respect to such Plan Shares, unless the Administrator provides otherwise. If any such dividends or distributions are paid in Plan Shares, the Plan Shares will be subject to the same restrictions on transferability and forfeitability as the
Restricted Shares with respect to which they were paid. 
 (h) Return of Restricted Shares to Company. On the date set
forth in the Award Agreement, the Restricted Shares for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. 
 8. Restricted Share Units. 
 (a) Grant. Restricted Share Units may
be granted at any time and from time to time as determined by the Administrator. After the Administrator determines that it will grant Restricted Share Units under the Plan, it will advise the Participant in an Award Agreement of the terms,
conditions, and restrictions related to the grant, including the number of Restricted Share Units. 
 (b) Vesting Criteria
and Other Terms. The Administrator will set vesting criteria in its discretion, which, depending on the extent to which the criteria are met, will determine the number of Restricted Share Units that will be paid out to the Participant. The
Administrator may set vesting criteria based upon the achievement of Company-wide, business unit, or individual goals (including, but not limited to, continued employment), or any other basis determined by the Administrator in its discretion.

 (c) Earning Restricted Share Units. Upon meeting the applicable vesting criteria, the Participant will be entitled to
receive a payout as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Share Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to
receive a payout. 
 (d) Form and Timing of Payment. Payment of earned Restricted Share Units will be made as soon as
practicable after the date(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may only settle earned Restricted Share Units in cash, Plan Shares, or a combination of both. 

(e) Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Share Units will be forfeited to the
Company. 

  
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 9. Share Appreciation Rights. 

(a) Grant of Share Appreciation Rights. Subject to the terms and conditions of the Plan, a Share Appreciation Right may be granted
to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. 

(b) Number of Shares. The Administrator will have complete discretion to determine the number of Share Appreciation Rights granted
to any Service Provider. 
 (c) Exercise Price and Other Terms. The per Plan Share exercise price for the Plan Shares to
be issued pursuant to exercise of a Share Appreciation Right will be determined by the Administrator and will be no less than one hundred percent (100%) of the Fair Market Value per Plan Share on the date of grant. Otherwise, the Administrator,
subject to the provisions of the Plan, will have complete discretion to determine the terms and conditions of Share Appreciation Rights granted under the Plan. 
 (d) Share Appreciation Right Agreement. Each Share Appreciation Right grant will be evidenced by an Award Agreement that will specify the exercise price, the term of the Share Appreciation Right,
the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine. 

(e) Expiration of Share Appreciation Rights. A Share Appreciation Right granted under the Plan will expire upon the date
determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 6(e) relating to the maximum term and Section 6(f) relating to exercise also will apply to
Share Appreciation Rights. 
 (f) Payment of Share Appreciation Right Amount. Upon exercise of a Share Appreciation
Right, a Participant will be entitled to receive payment from the Company in an amount determined by multiplying: 
 (i) The
difference between the Fair Market Value of a Plan Share on the date of exercise over the exercise price; times 
 (ii) The
number of Plan Shares with respect to which the Share Appreciation Right is exercised. 
 At the discretion of the
Administrator, the payment upon Share Appreciation Right exercise may be in cash, in Plan Shares of equivalent value, or in some combination thereof. 
 10. Performance Units and Performance Shares. 
 (a) Grant of Performance
Units/Shares. Performance Units and Performance Shares may be granted to Service Providers at any time and from time to time, as will be determined by the Administrator, in its sole discretion. The Administrator will have complete discretion in
determining the number of Performance Units and Performance Shares granted to each Participant. 

  
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 (b) Value of Performance Units/Shares. Each Performance Unit will have an initial
value that is established by the Administrator on or before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Plan Share on the date of grant. 

(c) Performance Objectives and Other Terms. The Administrator will set performance objectives or other vesting provisions
(including, without limitation, continued status as a Service Provider) in its discretion which, depending on the extent to which they are met, will determine the number or value of Performance Units/Shares that will be paid out to the Service
Providers. The time period during which the performance objectives or other vesting provisions must be met will be called the “Performance Period.” Each Award of Performance Units/Shares will be evidenced by an Award Agreement that will
specify the Performance Period, and such other terms and conditions as the Administrator, in its sole discretion, will determine. The Administrator may set performance objectives based upon the achievement of Company-wide, divisional, or individual
goals, applicable federal or state securities laws, or any other basis determined by the Administrator in its discretion. 
 (d)
Earning of Performance Units/Shares. After the applicable Performance Period has ended, the holder of Performance Units/Shares will be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the
Performance Period, to be determined as a function of the extent to which the corresponding performance objectives or other vesting provisions have been achieved. After the grant of a Performance Unit/Share, the Administrator, in its sole
discretion, may reduce or waive any performance objectives or other vesting provisions for such Performance Unit/Share. 
 (e)
Form and Timing of Payment of Performance Units/Shares. Payment of earned Performance Units/Shares will be made as soon as practicable after the expiration of the applicable Performance Period. The Administrator, in its sole discretion, may
pay earned Performance Units/Shares in the form of cash, in Plan Shares (which have an aggregate Fair Market Value equal to the value of the earned Performance Units/Shares at the close of the applicable Performance Period) or in a combination
thereof. 
 (f) Cancellation of Performance Units/Shares. On the date set forth in the Award Agreement, all unearned or
unvested Performance Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan. 
 11.
Leaves of Absence/Transfer Between Locations. Unless the Administrator provides otherwise, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Participant will not cease to be an Employee in the case of
(i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no such leave may exceed three
(3) months, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months following the first
(1st) day of such leave any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option. 

  
 -13-

 12. Transferability of Awards. Unless determined otherwise by the Administrator, an
Award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by the Participant. If
the Administrator makes an Award transferable, such Award will contain such additional terms and conditions as the Administrator deems appropriate. 
 13. Adjustments; Dissolution or Liquidation; Merger or Change in Control. 

(a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Plan Shares, other securities,
or other property), recapitalization, share split, reverse share split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Plan Shares or other securities of the Company, or other change in the
corporate structure of the Company affecting the Plan Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will adjust the number and
class of Plan Shares that may be delivered under the Plan and/or the number, class, and price of Plan Shares covered by each outstanding Award, and the numerical Share limits in Section 3 of the Plan. 

(b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will
notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action.

 (c) Change in Control. In the event of a merger or Change in Control, each outstanding Award will be treated as the
Administrator determines, including, without limitation, that each Award be assumed or an equivalent option or right substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. The Administrator will not be
required to treat all Awards similarly in the transaction. 
 In the event that the successor corporation does not assume or
substitute for the Award, the Participant will fully vest in and have the right to exercise all of his or her outstanding Options and Share Appreciation Rights, including as to Plan Shares as to which such Awards would not otherwise be vested or
exercisable, all restrictions on Restricted Shares and Restricted Share Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent
(100%) of target levels and all other terms and conditions met. In addition, if an Option or Share Appreciation Right is not assumed or substituted in the event of a Change in Control, the Administrator will notify the Participant in writing or
electronically that the Option or Share Appreciation Right will be exercisable for a period of time determined by the Administrator in its sole discretion, and the Option or Share Appreciation Right will terminate upon the expiration of such period.

 For the purposes of this subsection (c), an Award will be considered assumed if, following the Change in Control, the Award
confers the right to purchase or receive, for each Plan Share, subject to the Award immediately prior to the Change in Control, the consideration (whether shares, cash, or other securities or property) received in the Change in Control by holders of
Plan Shares for each Plan Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Plan Shares); provided, however,
that if such consideration received in the Change in Control is not solely ordinary shares of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration to be received
upon the exercise of an Option or Share Appreciation Right or upon the payout of a Restricted Share Unit, Performance Unit or Performance Share, for each Plan Share subject to such Award, to be solely ordinary shares of the successor corporation or
its Parent equal in fair market value to the per share consideration received by holders of Plan Shares in the Change in Control. 

  
 -14-

 Notwithstanding anything in this Section 13(c) to the contrary, an Award that vests, is
earned or paid-out upon the satisfaction of one or more performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the Participant’s consent; provided, however, a modification
to such performance goals only to reflect the successor corporation’s post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption. 

Notwithstanding anything in this Section to the contrary, if a payment under an Award Agreement is subject to Code Section 409A and
if the change in control definition contained in the Award Agreement or other agreement related to the Award does not comply with the definition of “change in control” for purposes of a distribution under Code Section 409A, then any
payment of an amount that is otherwise accelerated under this Section will be delayed until the earliest time that such payment would be permissible under Code Section 409A without triggering any penalties applicable under Code
Section 409A. 
 14. Tax. 
 (a) Withholding Requirements. Prior to the delivery of any Plan Shares or cash pursuant to an Award (or exercise thereof), the Company will have the power and the right to deduct or withhold, or
require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local, foreign or other taxes (including the Participant’s FICA obligation) required to be withheld with respect to such Award (or exercise thereof).

 (b) Withholding Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may
specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation) (i) paying cash, (ii) electing to have the Company withhold otherwise deliverable cash or Plan
Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld, or (iii) delivering to the Company already-owned Plan Shares having a Fair Market Value equal to the minimum statutory amount required to be
withheld. The Fair Market Value of the Plan Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld. 
 (c) Compliance With Code Section 409A. Awards will be designed and operated in such a manner that they are either exempt from the application of, or comply with, the requirements of Code
Section 409A such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code Section 409A, except as otherwise determined in the sole discretion of the Administrator. The
Plan and each Award Agreement under the Plan is intended to meet the requirements of Code Section 409A and will be construed and interpreted in accordance with such intent, except as otherwise determined in the sole discretion of the
Administrator. To the extent that an Award or payment, or the settlement or deferral thereof, is subject to Code Section 409A the Award will be granted, paid, settled or deferred in a manner that will meet the requirements of Code
Section 409A, such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code Section 409A. 

  
 -15-

 15. No Effect on Employment or Service. Neither the Plan nor any Award will confer
upon a Participant any right with respect to continuing the Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way with the Participant’s right or the Company’s right to terminate such
relationship at any time, with or without cause, to the extent permitted by Applicable Laws. 
 16. Date of Grant. The
date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to
each Participant within a reasonable time after the date of such grant. 
 17. Term of Plan. Subject to Section 21
of the Plan, the Plan will become effective upon its adoption by the Board. It will continue in effect for a term of ten (10) years from the date adopted by the Board, unless terminated earlier under Section 18 of the Plan. 

18. Amendment and Termination of the Plan. 
 (a) Amendment and Termination. The Board may at any time amend, alter, suspend or terminate the Plan. 
 (b) Shareholder Approval. The Company will obtain shareholder approval of any Plan amendment to the extent necessary and desirable to comply with Applicable Laws. 

(c) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the Plan will impair the rights of
any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator’s
ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 
 19. Conditions Upon Issuance of Plan Shares. 
 (a) Legal Compliance.
Plan Shares will not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such Plan Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the
Company with respect to such compliance. 
 (b) Investment Representations. As a condition to the exercise of an Award,
the Company may require the person exercising such Award to represent and warrant at the time of any such exercise that the Plan Shares are being purchased only for investment and without any present intention to sell or distribute such Plan Shares
if, in the opinion of counsel for the Company, such a representation is required. 

  
 -16-

 20. Inability to Obtain Authority. The inability of the Company to obtain authority
from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Plan Shares hereunder, will relieve the Company of any liability in respect of the failure
to issue or sell such Plan Shares as to which such requisite authority will not have been obtained. 
 21. Shareholder
Approval. The Plan will be subject to approval by the shareholders of the Company within twelve (12) months after the date the Plan is adopted by the Board. Such shareholder approval will be obtained in the manner and to the degree required
under Applicable Laws. 

  
 -17-Form Employment Agreement

 Exhibit 10.16 
 LOYALTY ALLIANCE ENTERPRISE CORPORATION 
 [COLUMN A]
EMPLOYMENT AGREEMENT 
 This Agreement is entered into as of [Column B] (the “Effective Date”) by
and between Loyalty Alliance Enterprise Corporation (the “Company”), and [Column A] (“Executive”). 
 1. Duties and Scope of Employment. 
 (a) Positions and Duties. As of
the Effective Date, Executive will continue to serve as [Column C] of the Company. Executive will render such business and professional services in the performance of [his/her] duties, consistent with [his/her] position within the Company, as
will reasonably be assigned to [him/her] by the Company’s Board of Directors (the “Board”). The period of Executive’s employment under this Agreement is referred to herein as the “Employment Term.”

 (b) Board Membership. During the Employment Term, Executive will serve as a member of the Board, subject to any
required Board or shareholder approval. In the event Executive’s employment hereunder terminates for any reason, Executive agrees that [he/she] will immediately resign as a member of the Board upon a request from the Board that [he/she] do so.

 (c) Obligations. During the Employment Term, Executive will perform [his/her] duties faithfully and to the best of
[his/her] ability and will devote an amount of [his/her] business time and efforts to the Company as is necessary to perform [his/her] duties. The Company acknowledges that Executive performs services as an officer of PayEase Corp.
(“PayEase”), the company from which the Company was spun off. The Company agrees to permit Executive to continue performing services for PayEase in [his/her] current capacity as an officer and director thereof, provided that
(i) such duties do not materially interfere with the performance of [his/her] duties to the Company hereunder and provided further that in providing such services Executive does not breach [his/her] fiduciary duties and duties of loyalty to the
Company and (ii) Executive shall devote at least [Column D] of [his/her] business time and efforts to the Company. 

(d) Work Location. During the Employment Term, Executive will be required to travel extensively to perform the services required
by this Agreement, including, without limitation, performing services out of the Company’s offices located in California and Hong Kong. As a result of Executive providing services to the Company in multiple jurisdictions, the Company may
require Executive to also enter into an employment agreement or labor contract with a subsidiary of the Company. 

  
 1 

 2. Employment Term. Executive’s employment with the Company pursuant to this
Agreement will continue from the Effective Date until the three-year anniversary of the Effective Date, unless terminated earlier as provided herein. On the third anniversary of the Effective Date and on each annual anniversary of the Effective Date
thereafter, this Agreement automatically will renew for an additional term of one year, unless at least thirty (30) days prior to such anniversary, Executive or the Company gives the other party written notice that the Agreement will not be
renewed. Notwithstanding the foregoing, the parties agree that Executive’s employment with the Company will at all times, including during the Employment Term, be “at-will” employment and may be terminated at any time with or without
cause or notice. Executive understands and agrees that neither [his/her] job performance nor promotions, commendations, bonuses or the like from the Company give rise to or in any way serve as the basis for modification, amendment, or extension, by
implication or otherwise, of [his/her] employment with the Company. However, as described in this Agreement, Executive may be entitled to severance benefits depending on the circumstances of Executive’s termination of employment with the
Company. 
 3. Compensation. 
 (a) Base Salary. From the Effective Date, the Company will pay Executive an annual salary of $[            ] as compensation for
[his/her] services (the “Base Salary”). The Base Salary will be paid periodically in accordance with the Company’s normal payroll practices and be subject to the usual, required withholding. Executive’s salary will be
subject to review, and Executive will be eligible for adjustments based upon the Company’s normal performance review practices. 
 (b) Bonus. Executive will be eligible to receive an annual bonus in an amount up to one-half of Executive’s Base Salary. The Board or Compensation Committee of the Board (the
“Committee”) will determine in its discretion whether Executive will be granted any such annual bonus and the terms and amounts of any such annual bonus. Executive also will be eligible to participate in any other bonus plans or
programs maintained from time to time by the Company on such terms and conditions as determined by the Board or the Committee. Any earned bonus will be paid in the next regular payroll period after the Board or the Committee determines that it has
been earned, but in no event shall the bonus be paid after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which the bonus is earned, or (ii) March 15 following the calendar year in which the bonus is earned. 

(c) Equity. Executive will be eligible to receive awards of stock options, restricted stock, restricted stock units or other
equity awards pursuant to any plans or arrangements the Company may have in effect from time to time. The Board or Committee will determine in its discretion whether Executive will be granted any such equity awards and the terms of any such award in
accordance with the terms of any applicable plan or arrangement that may be in effect from time to time. 
 4. Executive
Benefits. During the Employment Term, Executive will be entitled to participate in the Executive benefit plans currently and hereafter maintained by the Company of general applicability to other senior executives of the Company, subject to the
terms and conditions of such plans, including eligibility requirements. The Company reserves the right to cancel or change the benefit plans and programs it offers to its Executives at any time. 

5. Vacation. Executive will be entitled to paid vacation of 20 days per year in accordance with the Company’s vacation
policy. Vacation time does not accrue during any leave of absence. The timing and duration of specific vacations shall be mutually and reasonably agreed to by the parties hereto. 

  
 2 

 6. Expenses. The Company will reimburse Executive for reasonable travel,
entertainment or other expenses incurred by Executive in the furtherance of or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to
time. 
 7. Change in Control. In the event of a Change in Control that occurs while Executive is employed by the Company
pursuant to this Agreement, one hundred percent (100%) of [his/her] then outstanding equity awards will vest in full. 
 8.
Severance. 
 (a) Termination; Resignation. If (i) the Company terminates Executive’s employment with
the Company without Cause, (ii) Executive’s employment with the Company terminates due to death or Disability, or (iii) Executive resigns from [his/her] employment with the Company for Good Reason, then, subject to this Section 8
and Section 12, Executive will be entitled to receive: 
 (i) a lump sum payment equal to three (3) times
(a) Executive’s annual Base Salary and (b) annual target bonus, both at the level in effect immediately prior to [his/her] termination date; 
 (ii) accelerated vesting of all outstanding equity awards as to 100% of the then unvested portion of any such award; 
 (iii) two years following any such termination in which to exercise any outstanding stock options or other similar rights to acquire Company ordinary shares that are granted to Executive on or after the
date the parties execute this Agreement, or, if later, the Effective Date; and 
 (iv) if Executive timely elects continuation
coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and Executive’s eligible dependents, the Company will reimburse Executive for the monthly premiums under COBRA
for such coverage (at the coverage levels in effect immediately prior to Executive’s termination) until the earlier of (1) a period of eighteen (18) months from the date of Executive’s termination of employment, or (2) the
date upon which Executive and/or Executive’s eligible dependents becomes covered under similar plans. In addition, and notwithstanding anything to the contrary in this clause (iv), if the Company determines in its sole and reasonable discretion
that it cannot reimburse Executive the COBRA premiums without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to Executive a taxable
monthly payment in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue [his/her] group health coverage in effect on the date of such termination, which payments will be made regardless of whether
Executive elects COBRA continuation coverage. 
 (b) Separation Agreement and Release of Claims. The receipt of any
severance pursuant to Section 8 will be subject to Executive signing and not revoking a separation agreement and release of claims in substantially the form attached hereto as Exhibit A (the “Release”) and provided that
Release becomes effective and irrevocable no later than sixty (60) days following the termination date (such deadline, the “Release Deadline”). If the Release does not become effective by the Release Deadline, Executive will
forfeit any rights to severance or benefits under this Agreement. In no event will severance payments or benefits be paid or provided until the Release becomes effective and irrevocable. 

  
 3 

 (c) Continuing Requirements. Except as otherwise provided by applicable law, the
receipt of any severance benefits pursuant to Section 8(a) will be subject to Executive not violating the provisions of Section 12(a), (b) or (c). In the event Executive breaches the provisions of Section 12(a), (b) or (c),
all continuing payments and benefits to which Executive may otherwise be entitled pursuant to Section 8(a) will immediately cease and Executive will have such period of time as originally set forth in [his/her] award agreement (without taking
into effect the two-year extended post-termination exercise period set forth in Section 8(a)) to exercise any stock options or other similar rights to acquire Company ordinary shares. 

(d) Section 409A. 
 (i) Notwithstanding anything to the contrary in this Agreement, no severance pay or benefits to be paid or provided to Executive, if any, pursuant to this Agreement, when considered together with any
other severance payments or separation benefits that are considered deferred compensation under Code Section 409A, and the final regulations and any guidance promulgated thereunder (“Section 409A”) (together, the
“Deferred Compensation Separation Benefits”) will be paid or otherwise provided until Executive has a “separation from service” within the meaning of Section 409A. 

(ii) Any severance payments or benefits under this Agreement that would be considered Deferred Compensation
Severance Benefits will be paid on, or, in the case of installments, will not commence until, the sixtieth
(60th) day following Executive’s separation from
service, or, if later, such time as required by Section 8(d)(iii). Any installment payments that would have been made to Executive during the sixty (60) day period immediately following Executive’s separation from service but for the
preceding sentence will be paid to Executive on the sixtieth (60th) day following Executive’s separation from service and the remaining payments shall be made as provided in this Agreement. 

(iii) Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified employee” within the meaning of
Section 409A at the time of Executive’s termination (other than due to death), then the Deferred Compensation Separation Benefits that are payable within the first six (6) months following Executive’s separation from service,
will become payable on the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of Executive’s separation from service. All subsequent Deferred Compensation Separation Benefits, if any,
will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Executive dies following Executive’s separation from service, but prior to the six (6) month
anniversary of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of Executive’s death and all other Deferred
Compensation Separation Benefits will be payable in accordance with the payment schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement is intended to constitute separate payments for purposes of
Section 1.409A-2(b)(2) of the Treasury Regulations. 

  
 4 

 (iv) Any amount paid under this Agreement that satisfies the requirements of the
“short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute Deferred Compensation Separation Benefits for purposes of clause (i) above. 

(v) Any amount paid under this Agreement that qualifies as a payment made as a result of an involuntary separation from service pursuant
to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit (as defined below) will not constitute Deferred Compensation Separation Benefits for purposes of clause (i) above. 

(vi) The foregoing provisions are intended to comply with the requirements of Section 409A so that none of the severance payments
and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. The Company and Executive agree to work together in good faith to consider
amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to Executive under Section 409A. 

Except as otherwise expressly provided herein, to the extent any expense reimbursement or the provision of any in-kind benefit under this
Agreement is determined to be subject to Section 409A of the Code, the amount of any such expenses eligible for reimbursement, or the provision of any in-kind benefit, in one calendar year shall not affect the expenses eligible for
reimbursement in any other taxable year (except for any lifetime or other aggregate limitation applicable to medical expenses), in no event shall any expenses be reimbursed after the last day of the calendar year following the calendar year in which
the Executive incurred such expenses, and in no event shall any right to reimbursement or the provision of any in-kind benefit be subject to liquidation or exchange for another benefit. 

(e) No Duty to Mitigate. Executive will not be required to mitigate the amount of any payment contemplated by this Agreement, nor
will any earnings that Executive may receive from any other source reduce any such payment. 
 (f) Parachute
Payments. In the event that the severance and other benefits provided for in this Agreement or otherwise payable to the Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Code and
(ii) but for this Section, would be subject to the excise tax imposed by Section 4999 of the Code, then, at Executive’s discretion, Executive’s severance and other benefits under this Agreement shall be payable either (i) in
full, or (ii) as to such lesser amount which would result in no portion of such severance and other benefits being subject to the excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking into account the
applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by Executive on an after-tax basis, of the greatest amount of severance benefits under this Agreement, notwithstanding that
all or some portion of such severance benefits may be taxable under Section 4999 of the Code. Any reduction shall be made in the following manner: first a pro rata reduction of (i) cash payments subject to Section 409A of
the Code as deferred compensation and (ii) cash payments not subject to Section 409A of the Code, and second a pro rata cancellation of (i) equity-based compensation subject to Section 409A of the Code as deferred compensation
and (ii) equity-based compensation not subject to Section 409A of the Code. Reduction in either cash payments or equity compensation benefits shall be made pro rata between and among benefits which are subject to Section 409A of
the Code and benefits which are exempt from Section 409A of the Code. Unless Company and Executive otherwise agree in writing, any determination required under this Section shall be made in writing by Company’s accountants (the
“Accountants”), whose determination shall be conclusive and binding upon Executive and Company for all purposes. For purposes of making the calculations required by this Section, the Accountants may make reasonable assumptions and
approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. Company and Executive shall furnish to the Accountants such information and
documents as the Accountants may reasonably request in order to make a determination under this Section. Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section.

  
 5 

 9. Definitions. 

(a) Cause. For purposes of this Agreement, “Cause” is defined as (i) an act of dishonesty made by Executive
in connection with Executive’s responsibilities as an employee which is intended to result in substantial personal enrichment of the Executive, (ii) Executive’s conviction of a felony or any crime involving fraud, embezzlement or any
other act of moral turpitude, (iii) Executive’s intentional gross misconduct, (iv) Executive’s unauthorized use or disclosure of any proprietary information or trade secrets of the Company; (v) Executive’s material
breach of the Confidential Information Agreement after the Company has provided Executive with written notice of such material breach and a description of the acts constituting such material breach and Executive has failed to cure such material
breach within 30 business days after receiving such notice; or (vi) Executive’s continued failure to perform [his/her] employment duties after Executive has received a written demand of performance from the Company with specifically sets
forth the factual basis for the Company’s belief that Executive has not substantially performed [his/her] duties and has failed to cure such non-performance to the Company’s satisfaction within 30 business days after receiving such notice.

 (b) Change in Control. For purposes of this Agreement, “Change in Control” means the occurrence of
any of the following events: 
 (i) A change in the ownership of the Company which occurs on the date that any one person, or
more than one person acting as a group (“Person”), acquires ownership of the shares of the Company that, together with the shares held by such Person, constitutes more than fifty percent (50%) of the total voting power of the
shares of the Company; provided, however, that for purposes of this subsection (i), the acquisition of additional shares by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the shares of the
Company will not be considered a Change in Control; or 
 (ii) A change in the effective control of the Company which occurs on
the date that a majority of members of the Board is replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or
election. For purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or 

  
 6 

 (iii) A change in the ownership of a substantial portion of the Company’s assets which
occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value
equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following will not
constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s shareholders immediately after the transfer, or (B) a transfer of assets by
the Company to: (1) a shareholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s shares, (2) an entity, 50% or more of the total value or voting power of which is owned,
directly or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding shares of the Company, or (4) an entity, at least 50% of the total value or
voting power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For purposes of this clause (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being
disposed of, determined without regard to any liabilities associated with such assets. 
 For purposes of this definition,
persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of shares, or similar business transaction with the Company. 

(c) Disability. For purposes of this Agreement, “Disability” means Executive’s absence from [his/her]
responsibilities with the Company on a full-time basis for 180 calendar days in any consecutive twelve (12) month period as a result of Executive’s mental or physical illness or injury. 

(d) Good Reason. For purposes of this Agreement, “Good Reason” means Executive’s resignation within thirty
(30) days following the occurrence of one or more of the following, without Executive’s consent: (i) the assignment to Executive of any duties, or the reduction of Executive’s duties, either of which results in a material
diminution of Executive’s authority, duties, or responsibilities with the Company in effect immediately prior to such assignment, or the removal of Executive from such position and responsibilities; (ii) a material reduction in
Executive’s Base Salary; (iii) a material change in the geographic location at which Executive must perform services (in other words, the relocation of Executive to a facility that is more than thirty (30) miles from Executive’s
current location); and (iv) the failure of the Company to obtain assumption of this Agreement by any successor, provided, however, that, any such termination by Executive shall only be deemed for Good Reason pursuant to this
definition if: (1) Executive gives the Company written notice of [his/her] intent to terminate for Good Reason within ninety (90) days following the first occurrence of the condition(s) that [he/she] believes constitute(s) Good Reason,
which notice shall describe such condition(s); (2) the Company fails to remedy such condition(s) within thirty (30) days following receipt of the written notice (the “Cure Period”); and (3) Executive
voluntarily terminates [his/her] employment within one year following the end of the Cure Period. 

  
 7 

 (e) Section 409A Limit. For purposes of this Agreement, “Section 409A
Limit” will mean the lesser of two (2) times: (i) Executive’s annualized compensation based upon the annual rate of pay paid to Executive during Executive’s taxable year preceding Executive’s taxable year of
Executive’s termination of employment as determined under Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under
a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which Executive’s employment is terminated. 
 10. Indemnification. Subject to applicable law, Executive will be provided indemnification to the maximum extent permitted by the Company’s bylaws and Certificate of Incorporation, including,
if applicable, any directors and officers insurance policies, with such indemnification to be on terms determined by the Board or any of its committees, but on terms no less favorable than provided to any other Company executive officer or director
and subject to the terms of any separate written indemnification agreement. 
 11. Confidential Information. If Executive
has not already done so, Executive agrees to enter into the Company’s standard Confidential Information and Invention Assignment Agreement (the “Confidential Information Agreement”) no later than the Effective Date. 

12. Non-Solicitation; Non-Disparagement; Other Requirements. 

(a) Non-Solicitation. Until the date one (1) year after the termination of Executive’s employment with the Company for
any reason, Executive agrees not, either directly or indirectly, to solicit, induce, recruit or encourage any employee of the Company (or any parent or subsidiary of the Company) to leave [his/her] employment either for Executive or for any other
Person. Executive represents that [he/she] (i) is familiar with the foregoing covenant not to solicit, and (ii) is fully aware of [his/her] obligations hereunder, including, without limitation, the reasonableness of the length of time,
scope and geographic coverage of these covenants. 
 (b) Non-Disparagement. During the Employment Term and thereafter,
neither Executive nor the Company will knowingly disparage, criticize, or otherwise make any derogatory statements regarding the Company, its directors, or its officers nor the Executive, as the case may be. The foregoing restrictions will not apply
to any statements that are made truthfully in response to a subpoena or other compulsory legal process or pursuant to the requirements of any applicable law or regulation (including, without limitation, any rule, regulation or policy statement of
any applicable securities exchange, market or automated quotation system). 
 (c) Confidentiality Agreement. During the
Employment Term and thereafter, Executive will continue to comply with the terms of the Confidential Information Agreement. 

13. Assignment. This Agreement will be binding upon and inure to the benefit of (a) the heirs, executors and legal
representatives of Executive upon Executive’s death and (b) any successor of the Company. Any such successor of the Company will be deemed substituted for the Company under the terms of this Agreement for all purposes. For this purpose,
“successor” means any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the Company.
None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted assignment, transfer, conveyance or
other disposition of Executive’s right to compensation or other benefits will be null and void. 

  
 8 

 14. Notices. All notices, requests, demands and other communications called for
hereunder will be in writing and will be deemed given (i) on the date of delivery if delivered personally, (ii) one (1) day after being sent by a well established commercial overnight service, or (iii) four (4) days after
being mailed by registered or certified mail, return receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other addresses as the parties may later designate in writing: 

If to the Company: 
 Loyalty Alliance Enterprise Corporation 
 Suite 6005, 60/F, Central Plaza

 18 Harbour Road, Wanchai, Hong Kong 
 Attn: Chief Executive Officer 
 If to Executive: 

at the last residential address provided by Executive to the Company. 

15. Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be
illegal, unenforceable or void, this Agreement will continue in full force and effect without said provision. 
 16.
Arbitration and Equitable Relief. 
 (a) Arbitration. In consideration of Executive’s employment with the
Company, its promise to arbitrate all employment-related disputes, and Executive’s receipt of the compensation, pay raises, and other benefits paid to Executive by the Company, at present and in the future, Executive agrees that any and all
controversies, claims, or disputes with anyone (including the Company and any employee, officer, director, shareholder, or benefit plan of the Company, in their capacity as such or otherwise), arising out of, relating to, or resulting from
Executive’s employment with the Company or the termination of Executive’s employment with the Company, including any breach of this Agreement, shall be subject to binding arbitration under the arbitration provisions set forth in California
Code of Civil Procedure Sections 1280 through 1294.2, including section 1281.8 (the “Act”), and pursuant to California law. The federal arbitration act shall continue to apply with full force and effect notwithstanding the
application of procedural rules set forth in the Act. Disputes that Executive agrees to arbitrate, and thereby agrees to waive any right to a trial by jury, include any statutory claims under local, state, or federal law, including, but not
limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities act of 1990, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the Sarbanes-Oxley Act, the Worker
Adjustment and Retraining Notification Act, the California Fair Employment and Housing Act, the Family and Medical Leave Act, the California Family Rights Act, the California Labor Code, claims of harassment, discrimination, and wrongful
termination, and any statutory or common law claims. Notwithstanding the foregoing, Executive understands that nothing in this Agreement constitutes a waiver of [his/her] rights under Section 7 of the National Labor Relations Act.
Executive further understands that this agreement to arbitrate also applies to any disputes that the Company may have with Executive. 

  
 9 

 (b) Procedure. Executive agrees that any arbitration will be administered by Judicial
Arbitration & Mediation Services, Inc. (“JAMS”), pursuant to its employment arbitration rules & procedures (the “JAMS Rules”), which are available at
http://www.jamsadr.com/rules-employment-arbitration/. Executive agrees that the arbitrator shall have the power to decide any motions brought by any party to the arbitration, including motions for summary judgment and/or adjudication, and
motions to dismiss and demurrers, applying the standards set forth under the California Code of Civil Procedure. Executive agrees that the arbitrator shall issue a written decision on the merits. Executive also agrees that the arbitrator shall have
the power to award any remedies available under applicable law, and that the arbitrator shall award attorneys’ fees and costs to the prevailing party, where provided by applicable law. Executive agrees that the decree or award rendered by the
arbitrator may be entered as a final and binding judgment in any court having jurisdiction thereof. Executive understands that the Company will pay for any administrative or hearing fees charged by the arbitrator or JAMS except that Executive shall
pay any filing fees associated with any arbitration that Executive initiates, but only so much of the filing fees as Executive would have instead paid had Executive filed a complaint in a court of law. Executive agrees that the arbitrator shall
administer and conduct any arbitration in accordance with California law, including the California Code of Civil Procedure and the California Evidence Code, and that the arbitrator shall apply substantive and procedural California law to any dispute
or claim, without reference to rules of conflict of law. To the extent that the JAMS rules conflict with California law, California law shall take precedence. Executive agrees that any arbitration under this Agreement shall be conducted in Santa
Clara County, California. 
 (c) Remedy. Except as provided by the Act and this Agreement, arbitration shall be the sole,
exclusive, and final remedy for any dispute between Executive and the Company. Accordingly, except as provided for by the Act and this Agreement, neither Executive nor the Company will be permitted to pursue court action regarding claims that are
subject to arbitration. 
 (d) Administrative Relief. Executive understands that this Agreement does not prohibit
Executive from pursuing an administrative claim with a local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, including, but not limited to, the Department of Fair
Employment and Housing, the Equal Employment Opportunity Commission, the National Labor Relations Board, or the Workers’ Compensation Board. This Agreement does, however, preclude Executive from pursuing court action regarding any such claim,
except as permitted by law. 
 (e) Voluntary Nature of Agreement. Executive acknowledges and agrees that [he/she] is
executing this Agreement voluntarily and without any duress or undue influence by the Company or anyone else. Executive acknowledges and agrees that [he/she] has carefully read this Agreement and that [he/she] has asked any questions needed for
[him/her] to understand the terms, consequences, and binding effect of this Agreement and fully understands it, including that [he/she] is waiving [his/her] right to a jury trial. Finally, Executive agrees that [he/she] has been
provided an opportunity to seek the advice of an attorney of [his/her] choice before signing this Agreement. 

  
 10 

 17. Integration. This Agreement, together with the Confidential Information Agreement
and other agreements referenced herein, represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements whether written or oral. This Agreement may be
modified only by agreement of the parties by a written instrument executed by the parties that is designated as an amendment to this Agreement. 
 18. Waiver of Breach. The waiver of a breach of any term or provision of this Agreement, which must be in writing, will not operate as or be construed to be a waiver of any other previous or
subsequent breach of this Agreement. 
 19. Survival. The Company’s and Executive’s responsibilities under
Section 12 of this Agreement and the Confidential Information Agreement shall survive the termination of this Agreement. 

20. Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form a part of
this Agreement. 
 21. Tax Withholding. All payments made pursuant to this Agreement will be subject to withholding of
applicable taxes. 
 22. Governing Law. This Agreement will be governed by the laws of the State of California
(notwithstanding its conflict of laws provisions). 
 23. Acknowledgment. Executive acknowledges that [he/she] has had
the opportunity to discuss this matter with and obtain advice from [his/her] private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering
into this Agreement. 
 24. Counterparts. This Agreement may be executed in counterparts, and each counterpart will have
the same force and effect as an original and will constitute an effective, binding agreement on the part of each of the undersigned. 
 [Remainder of Page Intentionally Left Blank] 

  
 11 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the
Company by their duly authorized officers, as of the day and year first above written. 
 COMPANY: 

LOYALTY ALLIANCE ENTERPRISE CORPORATION 
  

									
	By:	 	 [Column E]
	 		 	Date:	 	 [Column B]

	Title:	 	 [Column F]
	 		 		 	
				
	EXECUTIVE:	 		 		 	
				
	 /s/ [Column A]
	 		 	Date:	 	 [Column B]

	[Column A]	 		 		 	

 [SIGNATURE PAGE TO [COLUMN A] EMPLOYMENT AGREEMENT] 

  
 12 

 EXHIBIT A 

SEPARATION AGREEMENT AND RELEASE 

  
 13 

 SEPARATION AGREEMENT AND RELEASE 

This Separation Agreement and Release (“Agreement”) is made by and between [Column A] (“Employee”) and Loyalty
Alliance Enterprise Corporation (the “Company”) (collectively referred to as the “Parties” or individually referred to as a “Party”). 
 RECITALS 
 WHEREAS, Employee was employed by the Company; 

WHEREAS, Employee signed an At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement with the
Company on [Column B] (the “Confidentiality Agreement”); 
 WHEREAS, Employee and the Company executed the
[Column A] Employment Agreement dated [Column B] (the “Employment Agreement”) 
 WHEREAS, the Company
has granted Employee the equity awards set forth on Exhibit A hereto; 
 WHEREAS, the Employee’s employment with the
Company terminated effective [Click And Type Date] (the “Termination Date”); 
 WHEREAS, in accordance with
Section 8 of Employment Agreement, Employee has agreed to enter into and not revoke this Agreement as a condition to receiving the severance benefits described in the Employment Agreement; and 

WHEREAS, the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions, and demands that
the Employee may have against the Company and any of the Releasees as defined below, including, but not limited to, any and all claims arising out of or in any way related to Employee’s employment with or separation from the Company;

 NOW, THEREFORE, in consideration of the mutual promises made herein, the Company and Employee hereby agree as follows:

 COVENANTS 
 1. Consideration. Executive will become entitled to the severance benefits set forth in Section 8(a) of the Employment Agreement upon this Agreement becoming effective and irrevocable within
the time period set forth in the Employment Agreement. 
 2. Payment of Salary and Receipt of All Benefits. Employee
acknowledges and represents that, other than the consideration set forth in this Agreement, the Company has paid or provided all salary, wages, bonuses, accrued vacation/paid time off, premiums, leaves, housing allowances, relocation costs,
interest, severance, outplacement costs, fees, reimbursable expenses, commissions, stock, stock options, vesting, and any and all other benefits and compensation due to Employee. 

  
 Page 1 of 7

 3. Release of Claims. Employee agrees that the foregoing consideration represents
settlement in full of all outstanding obligations owed to Employee by the Company and its current and former officers, directors, employees, agents, investors, attorneys, shareholders, administrators, affiliates, benefit plans, plan administrators,
insurers, trustees, divisions, and subsidiaries, and predecessor and successor corporations and assigns (collectively, the “Releasees”). Employee, on [his/her] own behalf and on behalf of [his/her] respective heirs, family members,
executors, agents, and assigns, hereby and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, demand, or cause of action
relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Employee may possess against any of the Releasees arising from any omissions, acts, facts, or damages that have occurred up until and including
the Effective Date of this Agreement, including, without limitation: 
 a. any and all claims relating to or arising from
Employee’s employment relationship with the Company and the termination of that relationship; 
 b. any and all claims
relating to, or arising from, Employee’s right to purchase, or actual purchase of shares of stock of the Company, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable
state corporate law, and securities fraud under any state or federal law; 
 c. any and all claims for wrongful discharge of
employment; termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent
or intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander;
negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; conversion; and disability benefits; 

d. any and all claims for violation of any federal, state, or municipal statute, including, but not limited to, Title VII of the
Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay Act; the Fair Labor Standards Act; the Fair Credit Reporting Act; the Age Discrimination in Employment
Act of 1967; the Older Workers Benefit Protection Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act; the Sarbanes-Oxley Act of 2002; the California
Family Rights Act; the California Labor Code; the California Workers’ Compensation Act; and the California Fair Employment and Housing Act; 
 e. any and all claims for violation of the federal or any state constitution; 
 f.
any and all claims arising out of any other laws and regulations relating to employment or employment discrimination; 
 g. any
claim for any loss, cost, damage, or expense arising out of any dispute over the nonwithholding or other tax treatment of any of the proceeds received by Employee as a result of this Agreement; and 

  
 Page 2 of 7

 h. any and all claims for attorneys’ fees and costs. 

Employee agrees that the release set forth in this section shall be and remain in effect in all respects as a complete general release as
to the matters released. This release does not extend to any obligations incurred under this Agreement or to any rights Employee may have under any right to indemnification by the Company under the Employment Agreement, its Memorandum and Articles
of Association or any other agreement with the Company or to any rights under any fiduciary policy which [he/she] is a beneficiary. This release does not release claims that cannot be released as a matter of law, including, but not limited to,
Employee’s right to file a charge with or participate in a charge by the Equal Employment Opportunity Commission, or any other local, state, or federal administrative body or government agency that is authorized to enforce or administer laws
related to employment, against the Company (with the understanding that any such filing or participation does not give Employee the right to recover any monetary damages against the Company; Employee’s release of claims herein bars Employee
from recovering such monetary relief from the Company). Employee represents that [he/she] has made no assignment or transfer of any right, claim, complaint, charge, duty, obligation, demand, cause of action, or other matter waived or released by
this Section. 
 4. Acknowledgment of Waiver of Claims under ADEA. Employee acknowledges that [he/she] is waiving and
releasing any rights [he/she] may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary. Employee agrees that this waiver and release does not apply to any rights or
claims that may arise under the ADEA after the Effective Date of this Agreement. Employee acknowledges that the consideration given for this waiver and release is in addition to anything of value to which Employee was already entitled. Employee
further acknowledges that [he/she] has been advised by this writing that: (a) [he/she] should consult with an attorney prior to executing this Agreement; (b) [he/she] has twenty-one (21) days within which to consider this
Agreement; (c) [he/she] has seven (7) days following [his/her] execution of this Agreement to revoke this Agreement; (d) this Agreement shall not be effective until after the revocation period has expired; and (e) nothing in this
Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically
authorized by federal law. In the event Employee signs this Agreement and returns it to the Company in less than the 21-day period identified above, Employee hereby acknowledges that [he/she] has freely and voluntarily chosen to waive the time
period allotted for considering this Agreement. 
 5. Company Release of Claims. The Company, on behalf of its respective
officers, directors, investors, shareholders, administrators, affiliates, divisions, subsidiaries, predecessor and successor corporations, agents, and assigns hereby fully and forever releases Employee and [his/her] respective heirs, family members,
executors, agents, and assigns from, and agrees not to sue concerning, any claim, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that it may possess arising from
any omissions, acts or facts that have occurred up until and including the date Employee received notice of [his/her] termination of employment from the Company. Notwithstanding any release provided for herein, this Agreement shall not serve to
release any claims by the Company against Employee for any claims relating to fraud, embezzlement, misappropriation of the Company’s trade secrets, or conduct that is violative of criminal law. Moreover, this release does not extend
to any obligations incurred under this Agreement. Furthermore, this release does not release claims that cannot be released as a matter of law. 

  
 Page 3 of 7

 6. Civil Code Section 1542. The Parties represent that they are not aware of any
claim by either of them other than the claims that are released by this Agreement. The Parties acknowledge that they have had the opportunity to seek the advice of legal counsel and are familiar with the provisions of California Civil Code
Section 1542, which provides as follows: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR. 
 The Parties, being aware of said code section, agree to expressly waive any rights they may have thereunder, as well as under any other statute or common law principles of similar effect. 

7. No Pending or Future Lawsuits. Employee represents that [he/she] has no lawsuits, claims, or actions pending in [his/her] name,
or on behalf of any other person or entity, against the Company or any of the other Releasees. Employee also represents that [he/she] does not intend to bring any claims on [his/her] own behalf or on behalf of any other person or entity against the
Company or any of the other Releasees. 
 8. Trade Secrets and Confidential Information/Company Property. Employee
reaffirms and agrees to observe and abide by the terms of the Confidentiality Agreement, specifically including the provisions therein regarding nondisclosure of the Company’s trade secrets and confidential and proprietary information, and
nonsolicitation of Company employees. Employee’s signature below constitutes [his/her] certification under penalty of perjury that [he/she] has returned all documents and other items provided to Employee by the Company, developed or obtained by
Employee in connection with [his/her] employment with the Company, or otherwise belonging to the Company. 
 9. No
Cooperation. Employee agrees that [he/she] will not knowingly encourage, counsel, or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third
party against any of the Releasees, unless under a subpoena or other court order to do so or as related directly to the ADEA waiver in this Agreement. Employee agrees both to immediately notify the Company upon receipt of any such subpoena or court
order, and to furnish, within three (3) business days of its receipt, a copy of such subpoena or other court order. If approached by anyone for counsel or assistance in the presentation or prosecution of any disputes, differences, grievances,
claims, charges, or complaints against any of the Releasees, Employee shall state no more than that [he/she] cannot provide counsel or assistance. 
 10. Nondisparagement. Employee and the Company agree to refrain from any disparagement, defamation, libel, or slander of any of the Releasees, and agrees to refrain from any tortious interference
with the contracts and relationships of any of the Releasees. Employee shall direct any inquiries by potential future employers to the Company’s human resources department, which shall use its best efforts to provide only the Employee’s
last position and dates of employment. 

  
 Page 4 of 7

 11. Breach. In addition to the rights provided in the “Attorneys’
Fees” section below, Employee acknowledges and agrees that any material breach of this Agreement, unless such breach constitutes a legal action by Employee challenging or seeking a determination in good faith of the validity of the waiver
herein under the ADEA, or of any provision of the Confidentiality Agreement shall entitle the Company immediately to recover and/or cease providing the consideration provided to Employee under this Agreement and to obtain damages, except as provided
by law. 
 12. No Admission of Liability. Employee understands and acknowledges that this Agreement constitutes a
compromise and settlement of any and all actual or potential disputed claims by Employee. No action taken by the Company hereto, either previously or in connection with this Agreement, shall be deemed or construed to be (a) an admission of the
truth or falsity of any actual or potential claims or (b) an acknowledgment or admission by the Company of any fault or liability whatsoever to Employee or to any third party. 

13. Costs. The Parties shall each bear their own costs, attorneys’ fees, and other fees incurred in connection with the
preparation of this Agreement. 
 14. Arbitration. The Parties agree that any and all disputes arising out of the terms
of this Agreement, their interpretation, and any of the matters herein released, shall be subject to arbitration as provided for in the Confidentiality Agreement. 
 15. Tax Consequences. The Company makes no representations or warranties with respect to the tax consequences of the payments and any other consideration provided to Employee or made on [his/her]
behalf under the terms of this Agreement. Employee agrees and understands that [he/she] is responsible for payment, if any, of local, state, and/or federal taxes on the payments and any other consideration provided hereunder by the Company and any
penalties or assessments thereon. 
 16. Authority. The Company represents and warrants that the undersigned has the
authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Agreement. Employee represents and warrants that [he/she] has the capacity to act on [his/her] own behalf and on
behalf of all who might claim through [him/her] to bind them to the terms and conditions of this Agreement. Each Party warrants and represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any
of the claims or causes of action released herein. 
 17. No Representations. Employee represents that [he/she] has had
an opportunity to consult with an attorney, and has carefully read and understands the scope and effect of the provisions of this Agreement. Employee has not relied upon any representations or statements made by the Company that are not specifically
set forth in this Agreement. 
 18. Severability. In the event that any provision or any portion of any provision hereof
or any surviving agreement made a part hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable, or void, this Agreement shall continue in full force and effect without said provision or portion
of provision. 

  
 Page 5 of 7

 19. Attorneys’ Fees. Except with regard to a legal action challenging or seeking
a determination in good faith of the validity of the waiver herein under the ADEA, in the event that either Party brings an action to enforce or effect its rights under this Agreement, the prevailing Party shall be entitled to recover its costs and
expenses, including the costs of mediation, arbitration, litigation, court fees, and reasonable attorneys’ fees incurred in connection with such an action. 
 20. Entire Agreement. This Agreement represents the entire agreement and understanding between the Company and Employee concerning the subject matter of this Agreement and Employee’s
employment with and separation from the Company and the events leading thereto and associated therewith, and supersedes and replaces any and all prior agreements and understandings concerning the subject matter of this Agreement and Employee’s
relationship with the Company, with the exception of the Confidentiality Agreement and the Stock Agreements. 
 21. No Oral
Modification. This Agreement may only be amended in a writing signed by Employee and the Company’s Chief Executive Officer. 
 22. Governing Law. This Agreement shall be governed by the laws of the State of California, without regard for choice-of-law provisions. Employee consents to personal and exclusive jurisdiction and
venue in the State of California. 
 23. Effective Date. Employee understands that this Agreement shall be null and void
if not executed by [him/her] within twenty one (21) days. Each Party has seven (7) days after that Party signs this Agreement to revoke it. This Agreement will become effective on the eighth (8th) day after Employee signed this
Agreement, so long as it has been signed by the Parties and has not been revoked by either Party before that date (the “Effective Date”). 
 24. Counterparts. This Agreement may be executed in counterparts and by facsimile, and each counterpart and facsimile shall have the same force and effect as an original and shall constitute an
effective, binding agreement on the part of each of the undersigned. 
 25. Voluntary Execution of Agreement. Employee
understands and agrees that [he/she] executed this Agreement voluntarily, without any duress or undue influence on the part or behalf of the Company or any third party, with the full intent of releasing all of [his/her] claims against the Company
and any of the other Releasees. Employee acknowledges that: 
  

	 	(a)	[he/she] has read this Agreement; 

  

	 	(b)	[he/she] has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of [his/her] own choice or has elected not to retain
legal counsel; 

  

	 	(c)	[he/she] understands the terms and consequences of this Agreement and of the releases it contains; and 

 

	 	(d)	[he/she] is fully aware of the legal and binding effect of this Agreement. 

  
 Page 6 of 7

 IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set
forth below. 
  

							
		 		 	[COLUMN A], an individual
			
	Dated:                     , 20    	 		 	  

		 		 	[Column A]
			
		 		 	LOYALTY ALLIANCE ENTERPRISE CORPORATION
				
	Dated:                     , 20    	 		 	By	 	  

		 		 		 	 [Click and Type Officer Name]

[Click and Type Title]

  
 Page 7 of 7

											
	 Column A
	  	 Column B
	  	 Column C
	  	 Column D
	  	 Column E
	  	 Column F

	Abraham Jou	  	July 1, 2011	  	Chairman	  	sixty percent (60%)	  	Deborah Wang	  	Director
	Deborah Wang	  	July 1, 2011	  	Chief Financial Officer and General Counsel	  	eighty percent (80%)	  	Abraham Jou	  	Chairman
	Frederick Sum	  	July 1, 2011	  	Chief Executive Officer	  	seventy percent (70%)	  	Abraham Jou	  	Chairman

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