Document:

Affinion Group Holdings, Inc. 2005 Stock Incentive Plan, dated October 17, 2005

 Exhibit 10.6 
 AFFINION GROUP HOLDINGS, INC. 
 2005 STOCK INCENTIVE PLAN 

 ARTICLE I 
 PURPOSE OF THE PLAN 
 The purpose of the AFFINION GROUP HOLDINGS, INC. 2005 STOCK INCENTIVE PLAN (the
“Plan”) is (i) to further the growth and success of Affinion Group Holdings, Inc., a Delaware corporation (the “Company”), and its Subsidiaries (as hereinafter defined) by enabling directors and employees of, or consultants
to, the Company or any of its Subsidiaries to acquire Shares (as hereinafter defined), thereby increasing their personal interest in such growth and success, and (ii) to provide a means of rewarding outstanding performance by such persons to
the Company and/or its Subsidiaries. Awards granted under the Plan (the “Awards”) shall be nonqualified stock options (referred to herein as “Options” or “NSOs”) and rights to purchase Shares. In the Plan, the terms
“Parent” and “Subsidiary” mean “Parent Corporation” and “Subsidiary Corporation,” respectively, as such terms are defined in Sections 424(e) and (f) of the Internal Revenue Code of 1986, as amended (the
“Code”). 
 ARTICLE II 
 DEFINITIONS 
 As used in the Plan, the following terms shall have the meanings set forth below: 
 “Adoption Agreement” means an agreement between the Company and a holder of Shares, pursuant to which such holder agrees to become a party to
the Management Investor Rights Agreement. 
 “Affiliate” means with respect to any Person, any other Person that, directly or
indirectly through one or more intermediaries controls, is controlled by, or is under common control with, such Person and/or one or more Affiliates thereof. As used in this definition, the term “control,” including the correlative terms
“controlling,” “controlled by” and “under common control with,” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies (whether through the ownership of
securities or any partnership or other ownership interests, by contract or otherwise) of a Person. The term “Affiliate” shall not include at any time any portfolio companies of Apollo Management V, L.P. or any of its Affiliates, other than
Affinion Group Holdings, Inc. and its Subsidiaries. 
 “Award” has the meaning set forth in Article I hereof. 
 “Award Agreement” means any writing setting forth the terms of an Award that has been duly authorized and approved by the Board or the
Committee. 
 “Board” has the meaning set forth in Section 3.1 hereof. 
 “Capital Stock” means any and all shares of, interests and participations in, and other equivalents (however designated) of stock, including
without limitation all Shares and preferred stock. 
  

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 “Cause” means, with respect to a Termination of Relationship: (i) if such Participant is
at the time of termination a party to an employment agreement with the Company or any of its Subsidiaries that defines such term, the meaning given in the employment agreement; (ii) otherwise if such Participant is at the time of termination a
party to an Award Agreement that was entered into under the Plan and defines such term, the meaning given in the Award Agreement; and (iii) in all other cases, a Termination of Relationship by the Company or any of its Subsidiaries or
Affiliates based on such Participant’s (A) commission of a felony or an act of moral turpitude; (B) act of dishonesty or willful misconduct; (C) material breach of the Participant’s obligations hereunder or any other
agreement entered into between the Participant and the Company or any of its Subsidiaries or Affiliates; or (D) breach of the Company’s policies or procedures that causes material harm to the Company or its business reputation. 

“Closing Date” means October 17, 2005. 
 “Code” has the meaning set forth in Article I hereof. 
 “Committee” has the meaning set
forth in Section 3.1 hereof. 
 “Common Stock” means the common stock of the Company, par value $.01 per share. 
 “Company” has the meaning set forth in Article I hereof. 
 “Disability” means, with respect to each Participant, (i) if such Participant is at the time of termination a party to an employment agreement with the Company or any of its Subsidiaries that defines
such term, the meaning given in the employment agreement; (ii) otherwise if such Participant is at the time of termination a party to an Award Agreement that was entered into under the Plan and defines such term, the meaning given in the Award
Agreement that the Participant, and (iii) in all other cases that such Participant (i) is unable to engage in any substantial gainful activity by reason of any medically determinable physical of mental impairment which can be expected to
result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of any medically determinable physical of mental impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident or health plan covering employees of the Company. 
 “Distributed Securities” means any securities received by the Investor as a return on the Investor Investment that have been distributed to
investors in investment funds managed by Apollo Management V, L.P. or any of its Affiliates. 
 “Effective Date” means the date the
Plan is adopted by the Board. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Fair Market Value” means (i) on the Closing Date, the price the Investor pays to acquire the Common Stock, and (ii) as of any
subsequent date, the closing price of the Common Stock on any national securities exchange or any national market system (including, but not limited to, The NASDAQ National Market) on that date, or if no prices are reported on that date, on the last

  

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 preceding date on which such prices of the Common Stock are so reported. If the Common Stock is not then listed on any
national securities exchange but is traded over the counter at the time determination of its Fair Market Value is required to be made, its Fair Market Value shall be deemed to be equal to the average between the reported high and low sales prices of
Common Stock on the most recent date on which Common Stock was publicly traded. If the Common Stock is not publicly traded at the time a determination of its Fair Market Value is made, the Board shall determine its Fair Market Value in such manner
as it deems appropriate (such determination shall be made in a manner that satisfies Section 409A of the Code (to the extent applicable) and in good faith as required by Section 422(c)(1) of the Code, and may be based on the advice of an
independent investment banker or appraiser recognized to be an expert in making such valuations). 
 “Good Reason” means with
respect to a Termination of Relationship: (i) if such Participant is at the time of termination a party to an employment agreement with the Company or any of its Subsidiaries that defines such term (or a term of like import, such as
“constructive discharge”), the meaning given in the employment agreement; (ii) otherwise if such Participant is at the time of termination a party to an Award Agreement that was entered into under the Plan and defines such term, the
meaning given in the Award Agreement; and (iii) in all other cases, a Termination of Relationship by the Participant following a reduction by greater than 30% of the Participant’s annual base salary (but not including any diminution
related to a broader compensation reduction that is not limited to any particular employee or executive); provided, however, that such reduction described in clause (iii) shall not constitute Good Reason unless the Participant shall have
notified the Company in writing describing such reduction within 60 days of its initial occurrence and then only if the Company shall have failed to cure such reduction within thirty (30) days after the Company’s receipt of such written
notice. 
 “Independent Third Party” means any Person that (i) did not own in excess of five percent (5%) of the Common
Stock deemed outstanding (on a fully diluted basis) as of the first anniversary of the Effective Date; and (ii) is not an Affiliate of any such owner. 
 “Investor” means, collectively, Apollo Investment Fund V, L.P., each of its Affiliates and any other investment fund or vehicle managed by Apollo Management V, L.P. or any of its Affiliates (including any
successors or assigns of any such manager). 
 “Investor Investment” means direct or indirect investments in Shares or other
Capital Stock of the Company made by the Investor on or after the Closing Date, but excluding any purchases or repurchases of Shares on any securities exchange or any national market system after an initial Public Offering. The term “Investor
Investment” excludes any investment originally made by the Investor in a Person other than the Company or a Subsidiary. 
 “Investor IRR” means the pretax compounded annual internal rate of return calculated on a quarterly basis realized by the Investor on the Investor Investment, based on the aggregate amount invested by the Investor for all Investor
Investments and the aggregate amount of cash received by, and Distributed Securities distributed to, the Investor in respect of all Investor Investments, assuming all Investor Investments were purchased by one Person and were held continuously by
such Person. The Investor IRR shall be determined based on the actual time of each Investor Investment and actual cash received by, and Distributed Securities distributed to, 
  

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 the Investor in respect of all Investor Investments and including, as a return on each Investor Investment, any cash
dividends, cash distributions, cash sales or cash interest made by the Company or any Subsidiary in respect of such Investor Investment during such period, but excluding any other amounts payable that are not directly attributable to an Investor
Investment and excluding any management fees. For purposes of determining Investor IRR in respect of Distributed Securities, the fair market value of those securities on the date on which the Distributed Securities are distributed shall be used for
purposes of calculating the annual internal rate of return, and such date shall be deemed the date on which the return on the Investor Investment was received by the Investor. 
 “Management Investor Rights Agreement” means the Management Investor Rights Agreement, dated as of the Closing Date, among the Company and the
holders party thereto, as it is amended, supplemented, restated or otherwise modified from time to time. 
 “Notice” has the
meaning set forth in Section 5.7 hereof. 
 “NSOs” has the meaning set forth in Article I hereof. 
 “Option” has the meaning set forth in Article I hereof. 
 “Option Price” has the meaning set forth in Section 5.4 hereof. 
 “Option Shares”
has the meaning set forth in Section 5.7(b) hereof. 
 “Participant” has the meaning set forth in Article IV hereof.

 “Permitted Assignee” has the meaning set forth in Section 8.2 hereof. 
 “Person” shall be construed broadly and shall include, without limitation, an individual, a partnership, a corporation, an association, a joint
stock company, a limited liability company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 
 “Plan” has the meaning set forth in Article I hereof. 
 “Public Offering” means the closing of a public offering of Common Stock pursuant to a registration statement declared effective under the Securities Act, except that a Public Offering shall not include
(i) an offering made primarily pursuant to a registration statement on Form S-4 in connection with a business combination or on Form S-8 in connection with an employee benefit plan of the Company or made primarily to employees or consultants of
the Company; or (ii) an offering of a de minimis number of Shares. 
 “Purchase Price” has the meaning set forth in
Section 6.2 hereof. 
 “Realization Event” means (i) the consummation of a Sale of the Company; or (ii) any
transaction or series of related transactions in which the Investor sells at least 50% of the Shares directly or indirectly acquired by it (from the Company or otherwise) and at least 50% of the aggregate of all Investor Investments. 
  

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 “Reorganization” has the meaning set forth in Section 7.1 hereof. 
 “Reserved Shares” means, at any time, an aggregate of 2,062,500 Shares, as the same may be adjusted at or prior to such time in accordance with
Section 7.1. 
 “Sale of the Company” means the sale of the Company to one or more Independent Third Parties, pursuant to
which such party or parties acquire (i) Capital Stock of the Company possessing the voting power to elect a majority of the Board (whether by merger, consolidation, recapitalization or sale or transfer of the Company’s Capital Stock or
otherwise); or (ii) all or substantially all of the Company’s assets determined on a consolidated basis. 
 “Securities
Act” means the Securities Act of 1933, as amended. 
 “Shares” means shares of Common Stock. 
 “Stock Award” means an Award of the right to purchase Shares under Article VI of the Plan. 
 “Subsidiary” means any corporation or other entity of which the Company owns securities or interests having a majority, directly or indirectly,
of the ordinary voting power in electing the board of directors, managers, general partners or similar governing Persons thereof. 
 “Termination Date” means the tenth anniversary of the Effective Date. 
 “Termination of Relationship” means
(i) if the Participant is an employee of the Company or any Subsidiary, the termination of the Participant’s employment with the Company and its Subsidiaries for any reason; (ii) if the Participant is a consultant to the Company or
any Subsidiary, the termination of the Participant’s consulting relationship with the Company and its Subsidiaries for any reason; and (iii) if the Participant is a director of the Company or any Subsidiary, the termination of the
Participant’s service as a director of the Company or such Subsidiary for any reason. Unless otherwise specifically provided by the Committee, a Termination of Relationship shall not be treated as having occurred to the extent that a
Participant retains the status of employee, consultant or director with respect to the Company or any Subsidiary following a termination described in clause (i), (ii) or (iii). 
 “Vested Options” means Options that have vested in accordance with the applicable Award Agreement. 
 ARTICLE III 
 ADMINISTRATION OF THE
PLAN; SHARES SUBJECT TO THE PLAN 
 3.1 Committee. 
 The Plan shall be administered by the Board of Directors of the Company (the “Board”) or the Compensation Committee (the “Committee”) appointed from time to time by the Board, in consultation with
the Chief Executive Officer of the Company, in the event the Chief Executive Officer is not a member of the Compensation Committee. The term “Committee” shall, for all purposes of the Plan other than this Article III, be deemed to refer to
the Board if the Board is administering the Plan. 
  

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 3.2 Procedures. 
 The Committee shall adopt such rules and regulations as it shall deem appropriate concerning the holding of meetings and the administration of the Plan. The entire Committee shall constitute a quorum and the actions
of the entire Committee present at a meeting, or actions approved in writing by the entire Committee, shall be the actions of the Committee. 
 3.3
Interpretation; Powers of Committee. 
 Except as may otherwise be expressly reserved to the Board as provided herein, and with
respect to any Award, except as may otherwise be provided in the Award Agreement evidencing such Award or an employment agreement between the Participant and Company, the Committee shall have all powers with respect to the administration of the
Plan, including the authority to: 
  

	 	(a)	determine eligibility and the particular persons who will receive Awards; 

  

	 	(b)	grant Awards to eligible persons, determine the price and number of securities to be offered or awarded to any of such persons, determine the other specific terms and conditions of
Awards consistent with the express limits of the Plan, establish the installments (if any) in which such Awards will become exercisable or will vest and the respective consequences thereof (or determine that no delayed exercisability or vesting is
required), and establish the events of termination or reversion of such Awards; 

  

	 	(c)	approve the forms of Award Agreements, which need not be identical either as to type of Award or among Participants; 

  

	 	(d)	construe and interpret the provisions of the Plan and any Award Agreement or other agreement defining the rights and obligations of the Company and Participants under the Plan, make
factual determinations with respect to the administration of the Plan, further define the terms used in the Plan, and prescribe, amend and rescind rules and regulations relating to the administration of the Plan; 

  

	 	(e)	cancel, modify, or waive the Company’s rights with respect to, or modify, discontinue, suspend, or terminate any or all outstanding Awards held by Participants, subject to any
required consent under Article X; 

  

	 	(f)	accelerate or extend the exercisability or extend the term of any or all outstanding Awards, subject to any consent required under Article X; and 

  

	 	(g)	make all other determinations and take such other action as contemplated by the Plan or as may be necessary or advisable for the administration of the Plan and the effectuation of
its purposes. 

  

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 All decisions of the Board or the Committee, as the case may be, shall be reasonable and made in good
faith and shall be conclusive and binding on all Participants in the Plan. In making any determination or in taking or not taking any action under the Plan, the Committee or the Board, as the case may be, may obtain the advice of experts, including
employees of and professional advisors to the Company. The Committee may delegate ministerial, non-discretionary functions to individuals who are officers or employees of the Company. No director, officer or agent of the Company or any Subsidiary
will be liable for any action, omission or decision under the Plan taken, made or omitted in good faith. 
 3.4 Compliance with Code
Section 162(m). 
 In the event the Company becomes a “publicly-held corporation” as defined in Code
§ 162(m)(2), the Company may establish a committee of outside directors meeting the requirements of Code § 162(m)(2) to (i) approve Awards that might reasonably be anticipated to result in the payment of employee remuneration
that would otherwise exceed the limit on employee remuneration deductible for income tax purposes by the Company pursuant to Code § 162(m); and (ii) administer the Plan. In such event, the powers reserved to the Committee in the Plan
shall be exercised by such compensation committee. In addition, Awards under the Plan shall be granted upon satisfaction of the conditions to such grants provided pursuant to Code § 162(m) and any Treasury Regulations promulgated
thereunder. 
 3.5 Number of Shares. 
 Subject to the provisions of Article VII (relating to adjustments upon changes in capital structure and other corporate transactions), the aggregate number of Shares with respect to which Awards may be granted under the Plan shall not
exceed the Reserved Shares. Shares that are subject to or underlie Options granted under the Plan that expire or for any reason are canceled or terminated without having been exercised (or Shares subject to or underlying the unexercised portion of
any Options, in the case of Options that were partially exercised at the time of their expiration, cancellation or termination), as well as Shares that are subject to Stock Awards made under the Plan that are not actually purchased pursuant to such
Stock Awards, will again, except to the extent prohibited by law or applicable listing or regulatory requirements, be available for subsequent Award grants under the Plan. 
 3.6 Reservation of Shares. 
 The number of Shares reserved for issuance with respect to Awards
granted under the Plan shall at no time be less than the maximum number of Shares which may be issued or delivered at any time pursuant to outstanding Awards. 
  

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 ARTICLE IV 
 ELIGIBILITY 
 4.1 General. 
 Awards may be granted under the Plan only to persons who are employees, consultants or directors of the Company or any of its Subsidiaries on the date of
the grant. Each such person to whom an Award is granted under the Plan is referred to herein as a “Participant.” 
 ARTICLE V

 STOCK OPTIONS 
 5.1
General. 
 Options may be granted under the Plan at any time and from time to time on or prior to the Termination Date. Each
Option granted under the Plan shall be designated as an NSO and shall be subject to the terms and conditions applicable to NSOs set forth in the Plan. Each Option shall be evidenced by an Award Agreement incorporating the terms and provisions of the
Plan that shall be executed by the Company and the Participant. The Award Agreement shall specify the number of Shares for which such Option shall be exercisable, the exercise price for such Shares and the other terms and conditions of the Option.

 5.2 Vesting. 
 The Committee, in
its sole discretion, shall determine whether and to what extent any Options are subject to vesting based upon the Participant’s continued service to, or the Participant’s performance of duties for, the Company and its Subsidiaries, or upon
any other basis. 
 5.3 Date of Grant. 
 Except as may be otherwise provided in an Award Agreement, the date of grant of an Option under the Plan shall be the date as of which the Committee approves the grant. 
 5.4 Option Price. 
 The price (the “Option Price”) at which each Share may be
purchased shall be determined by the Committee and set forth in the Award Agreement. In no event, however, may the Committee determine an Option Price that is less than the Fair Market Value of a Share on the date of grant. 
 5.5 Automatic Termination of Options. 
 Each
Option granted under the Plan, to the extent not previously exercised, shall automatically terminate and shall become null and void and be of no further force or effect upon such date or dates as are set forth in the applicable Award Agreement,
consistent with the terms of the Plan. 
  

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 5.6 Payment of Option Price. 
 The aggregate Option Price shall be paid in cash (by wire transfer of immediately available funds to a bank account of the Company designated by the Committee or by delivery of a personal or certified check payable to
the Company); provided that at the time an Option is granted under the Plan or thereafter, the Committee may, in its sole discretion, specify one or more of the following other forms of payment that may be used by a Participant (but only to the
extent permitted by applicable law) upon exercise of his or her Option: 
 (a) by cancellation of indebtedness of the Company owed to the
Participant; 
 (b) by surrender of Shares that either (i) have been owned by the Participant for more than six months and have been
paid for within the meaning of Rule 144 under the Securities Act (and, if such Shares were purchased from the Company or any Subsidiary thereof by means of a promissory note, such note has been fully paid with respect to such shares); or
(ii) were obtained by the Participant in the public market (but, subject in any case, to the applicable limitations of Rule 16b-3 under the Exchange Act); 
 (c) by waiver of compensation due or accrued to the Participant for services rendered to the Company or any of its Subsidiaries; 
 (d) such other method as the Committee may from time to time approve; or 
 (e) a combination of the methods
set forth in this Section 5.6. 
 5.7 Notice of Exercise. 
 A Participant (or other person, as provided in Section 8.2) may exercise an Option (for the Shares represented thereby) granted under the Plan in whole or in part (but for the purchase of whole Shares only), as
provided in the Award Agreement evidencing his or her Option, by delivering a written notice (the “Notice”) to the Secretary of the Company. The Notice shall state: 
 (a) That the Participant elects to exercise the Option; 
 (b) The number of Shares with respect to which the Option is being exercised (the “Option Shares”); 
 (c) The method of payment for the Option Shares (which method must be available to the Participant under the terms of his or her Award Agreement); 
 (d) The date upon which the Participant desires to consummate the purchase of the Option Shares (which date must be prior to the termination of such Option); and 
  

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 (e) Any additional provisions consistent with the Plan as the Committee may from time to time require.

 The exercise date of an Option shall be the date on which the Company receives the Notice from the Participant. Such Notice shall also
contain, to the extent such Participant is not then a party to the Management Investor Rights Agreement (and the Management Investor Rights Agreement has not been terminated prior to such date), an Adoption Agreement, in form and substance
satisfactory to the Board pursuant to which the Participant agrees to become a party to the Management Investor Rights Agreement. 
 5.8 Issuance of
Certificates. 
 The Company shall issue stock certificates in the name of the Participant (or other person exercising the applicable
Option in accordance with the provisions of Section 8.2), representing the Shares purchased upon exercise of the Option as soon as practicable after receipt of the Notice and payment of the aggregate Option Price for such Shares; provided that
the Company, in its sole discretion, may elect to not issue any fractional Shares upon the exercise of an Option (determining the fractional Shares after aggregating all Shares issuable to a single holder as a result of an exercise of an Option for
more than one Share) and, in lieu of issuing such fractional Shares, shall pay the Participant the Fair Market Value thereof as determined by the Board in good faith. Neither the Participant nor any person exercising an Option in accordance with the
provisions of Section 8.2 shall have any privileges as a stockholder of the Company with respect to any Shares of stock issuable upon exercise of an Option granted under the Plan until the date of issuance of stock certificates representing
such Shares pursuant to this Section 5.8. Notwithstanding the foregoing, the Committee reserves the right to account for Shares through book entry or other electronic means rather than the issuance of stock certificates. 
 ARTICLE VI 
 STOCK AWARDS

 6.1 General. 
 Stock Awards
may be granted under the Plan at any time and from time to time on or prior to the Termination Date. Each Stock Award shall be evidenced by an Award Agreement that shall be executed by the Company and the Participant. The Award Agreement shall
specify the terms and conditions of the Stock Award, including without limitation the number of Shares covered by the Stock Award, the purchase price for such Shares and the deadline for the purchase of such Shares. 
 6.2 Purchase Price; Payment. 
 The price (the
“Purchase Price”) at which each Share covered by the Stock Award may be purchased upon exercise of a Stock Award shall be determined by the Committee and set forth in the applicable Award Agreement. The Company will not be obligated to
issue certificates evidencing Shares purchased under this Article VI unless and until it receives full payment of the aggregate Purchase Price therefor and all other conditions to the purchase, as determined by the Committee, have been satisfied.
The Purchase Price of any shares subject to a Stock Award must be paid in full at the time of the purchase. 
  

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 ARTICLE VII 
 ADJUSTMENTS 
 7.1 Changes in Capital Structure. 
 If the Common Stock is changed by reason of a stock split, reverse stock split, stock combination or stock dividend or reclassification, or converted into
or exchanged for other securities or property as a result of a merger, consolidation, recapitalization or reorganization (a “Reorganization”), or if any extraordinary dividend or other distribution is paid on or in respect of Common Stock,
the Board in its sole discretion shall make such adjustments in the number and class of shares of stock available under the Plan as shall be reasonably necessary to preserve to a Participant rights substantially proportionate to his rights existing
immediately prior to such transaction or event (but subject to the limitations and restrictions on such existing rights), including, without limitation, a corresponding adjustment changing the number and kind of shares of stock subject to, and the
Option Price or Purchase Price applicable to, each Award or portion thereof outstanding at the time of such transaction or event, or to redeem any such award for cash or other property. The Option Price of any Option shall not be less than the Fair
Market Value of the Common Stock. 
 7.2 Special Rules. 
 The following rules shall apply in connection with Section 7.1 above: 
 (a) No adjustment shall be made
for cash dividends (except as described in Section 7.1) or the issuance to stockholders of rights to subscribe for additional Shares or other securities (except in connection with a Reorganization); and 
 (b) Any adjustments referred to in Section 7.1 shall be made by the Board in its discretion and shall, absent manifest error, be conclusive and
binding on all Persons holding any Awards granted under the Plan. 
 7.3 Right to Include Options upon a Realization Event. 
 Upon a Realization Event, the Company may, but is not obligated to, purchase each outstanding Vested Option and unvested Option for a per share amount
equal to (i) the amount per share received in respect of the Shares sold in such transaction constituting the Realization Event (ii) less the Option Price thereof. In the event the amount in (i) would not exceed the amount in (ii),
Options may be cancelled for no payment. The provisions of this paragraph shall not be construed, however, to limit or reduce any rights of the Company or the Participant under the Management Investor Rights Agreement. 
  

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 ARTICLE VIII 
 RESTRICTIONS ON AWARDS 
 8.1 Compliance With Securities Laws. 
 No Awards shall be granted under the Plan, and no Shares shall be issued and delivered pursuant to Awards granted under the Plan, unless and until the
Company and/or the Participant shall have complied with all applicable Federal or state registration, listing and/or qualification requirements and all other requirements of law or of any regulatory agencies having jurisdiction. 
 The Committee in its discretion may, as a condition to the delivery of any Shares pursuant to any Award granted under the Plan, require the applicable
Participant (i) to represent in writing that the Shares received pursuant to such Award are being acquired for investment and not with a view to distribution and (ii) to make such other representations and warranties as are deemed
reasonably appropriate by the Committee. Stock certificates representing Shares acquired under the Plan that have not been registered under the Securities Act shall, if required by the Committee, bear such legends as may be required by the
Management Investor Rights Agreement and the applicable Award Agreement. 
 8.2 Nonassignability of Awards. 
 Unless otherwise specifically provided by the Committee in an Award Agreement, no Award granted under the Plan shall be assignable or otherwise
transferable by the Participant, except by designation of a beneficiary, by will or by the laws of descent and distribution. An Award may be exercised during the lifetime of the Participant only by the Participant, unless the Participant becomes
subject to a Disability. If a Participant dies or becomes subject to a Disability, his or her Options shall thereafter be exercisable, during the period specified in the applicable Award Agreement (as the case may be), by his or her designated
beneficiary or if no beneficiary has been designated in writing, by his or her executors or administrators to the full extent (but only to such extent) to which such Options were exercisable by the Participant at the time of (and after giving effect
to any vesting that may occur in connection with) his or her death or Disability. Notwithstanding the foregoing, a Participant may assign or transfer an Award with the prior consent of the Committee to a “Family Member” as such term is
defined in Rule 701 of the Securities Act (each transferee thereof, a “Permitted Assignee”); provided that such Permitted Assignee shall be bound by and subject to all of the terms and conditions of the Plan and the Award Agreement
relating to the transferred Award and shall execute an agreement satisfactory to the Company evidencing such obligations; and provided further that such Participant shall remain bound by the terms and conditions of the Plan. The Company shall
cooperate with any Permitted Assignee and the Company’s transfer agent in effectuating any transfer permitted under this Section 8.2. 
 Before issuing any Shares under the Plan to any person who is not already a party to the Management Investor Rights Agreement, the Company shall obtain an executed Adoption Agreement from such person, unless a Public Offering shall have
already occurred. 
 8.3 No Right to an Award or Grant. 
 Neither the adoption of the Plan nor any action of the Board or the Committee shall be deemed to give an employee, director or consultant any right to be granted an Option to purchase Shares, receive an Award under
the Plan except as may be evidenced by an Award Agreement 
  

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 duly executed on behalf of the Company, and then only to the extent of and on the terms and conditions expressly set
forth in the Award Agreement. The Plan will be unfunded. The Company will not be required to establish any special or separate fund or to make any other segregation of funds or assets to assure the payment of any Award. 
 8.4 No Evidence of Employment or Service. 
 Nothing contained in the Plan or in any Award Agreement shall confer upon any Participant any right with respect to the continuation of his or her employment by or service with the Company or any of its Subsidiaries or interfere in any way
with the right of the Company or any such Subsidiary, in its sole discretion (subject to the terms of any separate agreement to the contrary), at any time to terminate such employment or service or to increase or decrease the compensation of the
Participant from the rate in existence at the time of the grant of an Award. 
 8.5 No Restriction of Corporate Action. 
 Nothing contained in the Plan or in any Award Agreement will be construed to prevent the Company or any Subsidiary or Affiliate of the Company from taking
any corporate action that is deemed by the Company or by its Subsidiaries and Affiliates to be appropriate or in its best interest, whether such action would have an adverse effect on the Plan or any Award made under the Plan. No Participant or
beneficiary of a Participant will have any claim against the Company or any affiliate as a result of any corporate action. 
 8.6 Date of Employment
Termination. 
 A Participant’s employment with the Company or a Subsidiary shall be considered to have terminated effective on
the last day of the Participant’s actual and active employment with the Company or such Subsidiary, whether such day is selected by agreement with the Participant or unilaterally by the Company or such Subsidiary and whether with or without
advance notice to the Participant. For the avoidance of doubt, no period of notice that is given or that ought to have been given under applicable law in respect of such termination of employment will be utilized in determining entitlement under the
Plan. 
 ARTICLE IX 
 TERM OF THE PLAN 
 The Plan shall become effective on the Effective Date and shall terminate on the Termination Date. No
Awards may be granted after the Termination Date. Any Award outstanding as of the Termination Date shall remain in effect and the terms of the Plan will apply until such Award terminates as provided in the applicable Award Agreement. 
 ARTICLE X 
 AMENDMENT OF PLAN

 The Plan may be modified or amended in any respect by the Committee with the prior approval of the Board; provided, however, that the
approval of the holders of a majority of the 
  

 13 

 votes that may be cast by all of the holders of shares of Common Stock of the Company entitled to vote (voting together
as a single class, with each such holder entitled to cast one vote per share held by such holder) shall be obtained prior to any such amendment becoming effective if such approval is required by law or is necessary to comply with regulations
promulgated by the Securities and Exchange Commission under Section 16(b) of the Exchange Act. Notwithstanding the foregoing, the Plan may not be modified or amended as it pertains to any existing Award Agreement if such modification or
amendment would materially impair the rights of the applicable Participant without the consent of such Participant. 
 ARTICLE XI

 CAPTIONS 
 The use
of captions in the Plan is for convenience. The captions are not intended to provide substantive rights. 
 ARTICLE XII 
 WITHHOLDING TAXES 
 The Awards granted
to Participants under the Plan are subject to taxation in accordance with Section 83(a) of the Code. Accordingly, upon any exercise or payment of any Award, the Company shall have the right at its option and in its sole discretion to
(i) require the Participant to pay or provide for payment of the amount of any taxes which the Company may be required to withhold with respect to such exercise or payment (which payment may be a condition precedent to an exercise);
(ii) deduct from any amount payable to the Participant in cash or securities in respect of the Award the amount of any taxes which the Company may be required to withhold with respect to such exercise or payment; (iii) reduce the number of
Shares to be delivered to the Participant in connection with such exercise or payment by the appropriate number of Shares, valued at their then Fair Market Value, to satisfy the minimum withholding obligation; or (iv) effect such withholding
through such other method as the Committee may from time to time approve. In no event will the value of Shares withheld under clause (iii) above exceed the minimum amount of required withholding under applicable law. 
 ARTICLE XIII 
 SECTION 83(b) ELECTION

 Each Participant awarded a Stock Award may, but is not obligated to, make an election under Section 83(b) of the Code to be taxed
currently with respect to any Stock Award issued under the Plan. The election permitted under this Article XIII shall comply in all respects with and shall be made within the period of time prescribed under Section 83(b) of the Code. Each
Participant shall prepare such forms as are required to make an election under Section 83(b) of the Code. The Company shall have no liability to any grantee who fails to make a permitted Section 83(b) election in a timely manner.

  

 14 

 ARTICLE XIV 
 CODE SECTION 409A COMPLIANCE 
 The Plan is intended to provide for non-statutory stock option
benefits that are not deemed to be deferred compensation and thus are not subject to the provisions of Code § 409A. If the Plan is deemed to be subject to Code § 409A, however, the Company may modify the Plan and any Awards
granted under the Plan to comply with Code § 409A guidance. 
 ARTICLE XV 
 SECTION 16 COMPLIANCE 
 It is intended
that the Plan and any Award made to a Participant subject to Section 16 of the Exchange Act meet all of the requirements of Rule 16b-3. If any provisions of the Plan or any Award would disqualify the Plan or the Award, or would otherwise not
comply with Rule 16b-3, such provision or Award will be construed or deemed amended to conform to Rule 16b-3. 
 ARTICLE XVI

 OTHER PROVISIONS 
 Each Award granted under the Plan may contain such other terms and conditions not inconsistent with the Plan as may be determined by the Committee, in its sole discretion. 
 ARTICLE XVII 
 NUMBER AND GENDER 
 With respect to words used in the Plan, the singular form shall include the plural form, the masculine gender shall include the feminine gender, and vice
versa, as the context requires. 
 ARTICLE XVIII 
 GOVERNING LAW 
 All questions concerning the construction, interpretation and validity of the Plan
and the instruments evidencing the Awards granted hereunder shall be governed by and construed and enforced in accordance with the domestic laws of the State of Delaware, without giving effect to any choice or conflict of law provision or rule
(whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. In furtherance of the foregoing, the internal law of the State of Delaware will control
the interpretation and construction of the Plan, even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply. 
  

 15 

 ARTICLE XIX 
 MISCELLANEOUS 
 Shares payable under the Plan pursuant to Awards will be payable in shares of Common
Stock or from the general assets of the Company, and (except as provided in Article III) no special or separate reserve, fund or deposit will be made to assure payment of such Awards. No grantee, beneficiary or other person will have any
right, title or interest in any fund or in any specific asset (including Shares) of the Company by reason of any Award hereunder. Neither the provisions of the Plan (or of any related documents), nor the creation or adoption of the Plan, nor any
action taken pursuant to the provisions of the Plan will create, or be construed to create, a trust of any kind or a fiduciary relationship between the Company and any grantee, beneficiary or other person. To the extent that a grantee, beneficiary
or other person acquires a right to receive payment pursuant to any Award hereunder, such right will be no greater than the right of any unsecured general creditor of the Company. 
 The Management Investor Rights Agreement provides for additional restrictions and limitations with respect to Shares (including additional restrictions
and limitations on the voting or transfer of Shares). To the extent that such restrictions are greater than those set forth in the Plan or any Award Agreement, such restrictions and limitations shall apply to any Shares acquired pursuant to the
exercise of Awards or otherwise issued or delivered pursuant to an Award and are incorporated herein by this reference. 
 The Certificate of
Incorporation and Bylaws of the Company, as either of them may lawfully be amended, supplemented or restated from time to time, may provide for additional restrictions and limitations with respect to Shares (including additional restrictions and
limitations on the voting or transfer of Shares) or priorities, rights and preferences as to securities and interests prior in rights to the Shares. To the extent that these restrictions and limitations are greater than those set forth in the Plan
or any Award Agreement, such restrictions and limitations shall apply to any Shares acquired pursuant to Awards and are incorporated herein by this reference. 
 *        *        *        *        *      
  * 
 As adopted by the Board of Directors of Affinion Group Holdings, Inc. on October 17, 2005. 
  

 16Restricted Stock Agreement dated as of October 17, 2005

 Exhibit 10.7 
  

			
		 	 RESTRICTED STOCK AGREEMENT (this
 “Agreement”) dated as of October 17, 2005,
 between AFFINION GROUP HOLDINGS, INC.,
 a Delaware corporation, (the “Company”)
 and NATHANIEL J. LIPMAN (the “Purchaser”).

 WHEREAS, pursuant to the Purchase Agreement made and entered into as of the 26th day
of July, 2005, by and among Affinion Group, Inc. (f/k/a Affinity Acquisition, Inc.), the Company (f/k/a Affinity Acquisition Holdings, Inc.) and Cendant Corporation, the Company will acquire all of the equity interests in Cendant Marketing Group,
LLC (formerly Cendant Membership Services Holdings LLC) and Cendant International Holdings Limited (the “Transaction”); 
 WHEREAS, the Company, acting through the Committee with the consent of the Company’s Board of Directors (the “Board”) will grant to the Purchaser, effective as of the date the Transaction closes (the
“Grant Date”), under the Affinion Group Holdings, Inc. 2005 Stock Incentive Plan (the “Plan”) a number of shares of Common Stock (“Shares”) on the terms and subject to the conditions set forth in
this Agreement and the Plan; and 
 WHEREAS, Affinion Group, Inc. and the Purchaser have executed an Employment Agreement of even date
herewith; 
 NOW, THEREFORE, in consideration of the promises and of the mutual agreements contained in this Agreement, the parties
hereto hereby agree as follows: 
 Section 1. The Plan. The terms and provisions of the Plan are hereby incorporated into this
Agreement as if set forth herein in their entirety. In the event of a conflict between any provision of this Agreement and the Plan, the provisions of the Plan shall control. A copy of the Plan may be obtained from the Company by the Purchaser upon
request. Capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed thereto in the Plan. 
 Section 2. Grant. Subject to the terms of this Agreement, the Company hereby grants to the Purchaser a Stock Award with respect to an aggregate of 50,000 restricted shares of Common Stock of the Company (subject to adjustment as
provided in Article VII of the Plan) (the “Restricted Shares”) at a purchase price of $0.01 per share (the “Purchase Price”). The Purchaser agrees to promptly pay to the Company, in accordance with Section 6.2
of the Plan, the amount of the aggregate Purchase Price for the Restricted Shares. 
 Section 3. Vesting. The Restricted Shares
shall vest, and the restrictions imposed on the Restricted Shares pursuant to this Section 3 shall lapse, on the fifth anniversary of the Grant Date, provided that the Purchaser has not previously incurred a Termination of Relationship. The
Restricted Shares shall accelerate and vest in full upon a Sale of the Company, provided the Purchase has not incurred a Termination of Relationship before such time. Prior to vesting, the Restricted Shares, any interest therein, amount payable in
respect thereof, and any Restricted 

 Property (as defined in Section 19), may not be sold or transferred by the Purchaser. After vesting, the Restricted
Shares shall have the same attributes as other Shares, as set forth in the Management Investor Rights Agreement. Restricted Shares are subject to repurchase as set forth in the Management Investor Rights Agreement; provided, however, that Restricted
Shares that have not yet vested shall be subject to repurchase at the “Purchase Price” as defined in Section 6.2 of the Plan rather than as defined in the Management Investor Rights Agreement. 
 Section 4. Purchaser’s Service. Nothing in this Agreement or in the Option shall confer upon the Purchaser any right to continue as an
employee of, or other service provider to, the Company or any of its Subsidiaries or Affiliates or interfere in any way with the right of the Company, its Subsidiaries or its Affiliates, as the case may be, in its sole discretion, to terminate the
Purchaser’s employment or service relationship or to increase or decrease the Purchaser’s compensation at any time. 
 Section 5. Securities Law Representations. The Purchaser acknowledges that the Option and the Restricted Shares are not being registered under the Securities Act, based, in part, in reliance upon an exemption from registration
under Rule 701 promulgated under the Securities Act, and a comparable exemption from qualification under applicable state securities laws, as each may be amended from time to time. The Purchaser, by executing this Agreement, hereby makes the
following representations to the Company and acknowledges that the Company’s reliance on federal and state securities law exemptions from registration and qualification is predicated, in substantial part, upon the accuracy of these
representations: 
  

	 	•	 	The Purchaser is acquiring the Restricted Shares solely for the Purchaser’s own account, for investment purposes only, and not with a view to or an intent to sell, or to offer
for resale in connection with any unregistered distribution, all or any portion of the shares within the meaning of the Securities Act and/or any applicable state securities laws. 

  

	 	•	 	The Purchaser has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the Restricted Shares. The Purchaser has been
furnished with, and/or has access to, such information as he considers necessary or appropriate for deciding whether to purchase the Restricted Shares. However, in evaluating the merits and risks of an investment in the Restricted Shares, the
Purchaser has and will rely only upon the advice of his own legal counsel, tax advisors, and/or investment advisors. 

  

	 	•	 	The Purchaser is aware that the Restricted Shares may be of no practical value, that any value they may have depends on their vesting, and that any investment in common shares of a
closely held corporation such as the Company is non-marketable, non-transferable and could require capital to be invested for an indefinite period of time, possibly without return, and at substantial risk of loss. 

  

	 	•	 	The Purchaser understands that the Restricted Shares will be characterized as “restricted securities” under the federal securities laws, and that, under such laws and
applicable regulations, such securities may be resold without registration under the Securities Act only in certain limited circumstances, including in 

  

 2 

	 	  	accordance with the conditions of Rule 144 promulgated under the Securities Act, as presently in effect. The Purchaser acknowledges receiving a copy of Rule 144 promulgated under
the Securities Act, as presently in effect, and represents that he is familiar with such rule, and understands the resale limitations imposed thereby and by the Securities Act and the applicable state securities law. 

  

	 	•	 	The Purchaser has read and understands the restrictions, limitations and Company rights set forth in the Management Investor Rights Agreement, the Plan and this Agreement that will
be imposed on the Restricted Shares (including those restrictions and limitations which will continue after the shares have vested). The Purchaser acknowledges that to the extent the Purchaser is not a party to the Management Investor Rights
Agreement at the time that the Purchaser purchases the Restricted Shares, such purchase shall be treated for all purposes as effecting the Purchaser’s simultaneous execution of the Management Investor Rights Agreement and the Purchaser shall be
bound thereby. 

  

	 	•	 	The Purchaser has not relied upon any oral representation made to the Purchaser relating to the Restricted Shares or upon information presented in any promotional meeting or
material relating to the Restricted Shares. 

  

	 	•	 	The Purchaser understands and acknowledges that (a) any certificate evidencing the Restricted Shares (or evidencing any other securities issued with respect thereto pursuant to
any stock split, stock dividend, merger or other form of reorganization or recapitalization) when issued shall bear any legends which may be required by applicable federal and state securities laws or the Management Investor Rights Agreement, and
(b) except as otherwise provided under the Management Investor Rights Agreement, the Company has no obligation to register the Shares or file any registration statement under federal or state securities laws. The Committee reserves the right to
account for Shares through book entry or other electronic means rather than the issuance of stock certificates. 

 Section 6. Designation of Beneficiary. The Purchaser may appoint any individual or legal entity in writing as his beneficiary to receive any Shares (to the extent not previously terminated or forfeited) under this Agreement upon
the Purchaser’s death or becomes subject to a Disability. The Purchaser may revoke his designation of a beneficiary at any time and a new beneficiary appointed in writing. To be effective, the Purchaser must complete the designation of a
beneficiary or revocation of a beneficiary by written notice to the Company under Section 10 of this Agreement before the date of the Purchaser’s death. In the absence of a beneficiary designation, the legal representative of the
Purchaser’s estate shall be deemed the beneficiary. 
 Section 7. Notices. All notices, claims, certifications, requests,
demands and other communications hereunder shall be in writing and shall be deemed to have been duly given and delivered if personally delivered or if sent by nationally-recognized overnight courier, by telecopy, or by registered or certified mail,
return receipt requested and postage prepaid, addressed as follows: 
 If to the Company, to it at: 
 Affinion Group Holdings, Inc. 
 c/o Apollo Management V, L.P. 
 9 West 57th Street 
 New York, New York 10019

 Facsimile: (212) 515-3264 
 Attention: Marc Becker 
  

 3 

 With a copy to (which copy will not constitute notice): 
 O’Melveny & Myers LLP 
 Times Square Tower 
 7 Times Square 
 New York, NY 10036 
 Telecopy: (212) 326-2061 Attention: Adam K. Weinstein, Esq. 
 If to the Purchaser, to the Purchaser at the address set forth on the signature
page hereto; or to such other address as the party to whom notice is to be given may have furnished to the other party in writing in accordance herewith. Any such notice or other communication shall be deemed to have been received (a) in the
case of personal delivery, on the date of such delivery (or if such date is not a business day, on the next business day after the date of delivery), (b) in the case of nationally-recognized overnight courier, on the next business day after the
date sent, (c) in the case of telecopy transmission, when received (or if not sent on a business day, on the next business day after the date sent), and (d) in the case of mailing, on the third business day following that on which the
piece of mail containing such communication is posted. 
 Section 8. Waiver of Breach. The waiver by either party of a breach of
any provision of this Agreement must be in writing and shall not operate or be construed as a waiver of any other or subsequent breach. 
 Section 9. Purchaser’s Undertaking. The Purchaser hereby agrees to take whatever additional actions and execute whatever additional documents the Company may in its reasonable judgment deem necessary or advisable in order
to carry out or effect one or more of the obligations or restrictions imposed on the Purchaser pursuant to the express provisions of this Agreement and the Plan. 
 Section 10. Modification of Rights. The rights of the Purchaser are subject to modification and termination in certain events as provided in this Agreement and the Plan (with respect to the Options granted
hereby). Notwithstanding the foregoing, the Purchaser’s rights under this Agreement and the Plan may not be materially impaired without the Purchaser’s prior written consent. 
 Section 11. Governing Law. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT
GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW PROVISION OR RULE (WHETHER OF THE STATE OF DELAWARE OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE 
  

 4 

 OF DELAWARE TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING, THE INTERNAL LAW OF THE STATE OF DELAWARE WILL CONTROL THE
INTERPRETATION AND CONSTRUCTION OF THIS AGREEMENT, EVEN IF UNDER SUCH JURISDICTION’S CHOICE OF LAW OR CONFLICT OF LAW ANALYSIS, THE SUBSTANTIVE LAW OF SOME OTHER JURISDICTION WOULD ORDINARILY APPLY. 
 Section 12. Counterparts. This Agreement may be executed in one or more counterparts, and each such counterpart shall be deemed to be an
original, but all such counterparts together shall constitute but one agreement. 
 Section 13. Entire Agreement. This Agreement,
the Plan, and the other writings referred to herein constitute the entire agreement between the parties with respect to the subject matter hereof and thereof and supersede all prior written or oral negotiations, commitments, representations and
agreements with respect thereto. 
 Section 14. Severability. It is the desire and intent of the parties hereto that the
provisions of this Agreement be enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular provision of this Agreement shall be
adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting
the validity or enforceability of such provision in any other jurisdiction. Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or unenforceable in such jurisdiction, it shall, as to such
jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. 
 Section 15. Waiver of Jury Trial. Each party hereto hereby irrevocably and unconditionally waives, to the fullest extent it may legally and
effectively do so, trial by jury in any suit, action or proceeding arising hereunder. 
 Section 16. Dividend and Voting Rights.
After the Grant Date, the Purchaser shall be entitled to cash dividends and voting rights with respect to the Restricted Shares subject to the Award even though such Shares are not vested, provided that such rights shall terminate immediately as to
any Restricted Shares that are repurchased by the Company. 
 Section 17. Tax Withholding. The Company shall reasonably determine
the amount of any federal, state, local or other income, employment, or other taxes which the Company or any of its subsidiaries may reasonably be obligated to withhold with respect to the grant, vesting, making of an election under
Section 83(b) of the Code or other event with respect to the Restricted Shares. The Company’s obligation to deliver the Restricted Shares or any certificates evidencing the Restricted Shares (or to make a book entry or other electronic
notation indicating ownership of the Restricted Shares), or otherwise remove the restrictive notations or legends on such shares or certificates that refer to nontransferability as set forth in Section 3 of this Agreement, is subject to the
condition precedent that the Purchaser either pay or provide for the amount of any such withholding obligations in such manner as may be authorized by the Administrator under, or as may otherwise be permitted under, Article VII of the Plan.

  

 5 

 Section 18. Stock Power; Power of Attorney. Concurrent with the execution and delivery of
this Agreement, the Purchaser shall deliver to the Company an executed stock power in the form attached hereto as Exhibit A, in blank, with respect to the Restricted Shares and any related Restricted Property. The Purchaser, by acceptance of the
Award, shall be deemed to appoint, and does so appoint by execution of this Agreement, the Company and each of its authorized representatives as the Purchaser’s attorney(s)-in-fact to (1) effect any transfer to the Company (or other
purchaser, as the case may be) of the Restricted Shares acquired pursuant to this Agreement (including any related Restricted Property) that are repurchased by the Company (or other permitted purchaser), and (2) execute such documents as the
Company or such representatives deem necessary or advisable in connection with any such transfer. 
 Section 19. Adjustments Upon
Specified Events. Upon the occurrence of certain events relating to the Corporation’s stock contemplated by Section 7.3.1 of the Plan, the Committee may, to such extent (if any) it deems appropriate and equitable in the circumstances,
make adjustments in the number and kind of securities that may become vested under the Award. If any adjustment is made to the Restricted Shares pursuant to Section 7.3.1 of the Plan, the restrictions applicable to the Restricted Shares will
continue in effect with respect to any consideration or other securities (the “Restricted Property” and, for the purposes of this Agreement, “Restricted Shares” shall include “Restricted Property,” unless the
context otherwise requires) received in respect of such Restricted Shares. Such Restricted Property shall vest at such times and in such proportion as the Restricted Shares to which the Restricted Property is attributable vest, or would have vested
pursuant to the terms hereof if such Restricted Shares had remained outstanding. To the extent that the Restricted Property includes any cash (other than regular cash dividends provided for in Section 5 hereof), such cash shall be invested,
pursuant to policies established by the Administrator, in interest bearing deposits of a depository institution selected by the Committee, the earnings on which shall be added to and become a part of the Restricted Property. 
 [Signature Pages Follow] 
  

 6 

 IN WITNESS WHEREOF, the parties hereto have executed this Restricted Stock Agreement as of the
date first written above. 
  

			
	AFFINION GROUP HOLDINGS, INC.
		
	By:	 	 /s/ Robert G. Rooney

	Name:	 	Robert G. Rooney
	Title:	 	Executive Vice President
	
	PURCHASER
	
	See attached signature page

  

 7 

			
	PURCHASER
		
		 	 /s/ Nathaniel J. Lipman

	Name:	 	Nathaniel J. Lipman
		
		 	Residence Address:

  
  

				
	 Number of Restricted Shares:
	  	 	50,000
		
	 Purchase Price per Share:
	  	$	0.01

 EXHIBIT A 
 STOCK POWER 
 FOR VALUE RECEIVED and pursuant to that certain Restricted Stock Agreement
between Affinion Group Holdings, Inc., a Delaware corporation (the “Company”), and the individual named below (the “Individual”) dated as of
                                    , the Individual hereby
sells, assigns and transfers to the Company, an aggregate of              shares of Common Stock of the Company, standing in the Individual’s name on the books of the Company
and represented by stock certificate number(s)
                                     to which this instrument
is attached, and hereby irrevocably constitutes and appoints
                                        
                                       as his or her
attorney in fact and agent to transfer such shares on the books of the Company, with full power of substitution in the premises. 
 Dated                     ,
                     
  

	
	 
	Signature
	
	  
	Print Name

 (Instruction: Please do not fill in any blanks other than the signature line. The purpose of the
assignment is to enable the Corporation to exercise its sale/purchase option set forth in the Restricted Stock Agreement without requiring additional signatures on the part of the Individual.)

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