Document:

EX-10.5

 Exhibit 10.5 

AMENDMENT NO. 3 TO THE STOCKHOLDER AGREEMENT 

This Amendment (this “Amendment”), dated as of December 12, 2013, is made by Affinion Group Holdings, Inc., a
corporation organized under the laws of the State of Delaware (the “Company”) and each of the Major Stockholders of the Company that is a party hereto. 

WHEREAS, the Company and each of the Major Stockholders are parties to that certain Stockholder Agreement, dated as of January 14, 2011,
as amended as of September 20, 2012, and as further amended as of May 7, 2013 (the “Stockholder Agreement”); 

WHEREAS, Section 10(h) of the Stockholder Agreement provides, among other things, that the Stockholder Agreement may be amended by the
Company from time to time with the written consent of (a) Holders holding at least a majority of the issued and outstanding Common Shares held by all Holders and (b) for so long as any Major Stockholder is a Major Stockholder, such Major
Stockholder; 
 WHEREAS, the Major Stockholders hold, in the aggregate, Common Shares representing more than a majority of the issued and
outstanding Common Shares held by all Holders; 
 WHEREAS, the parties desire to amend the Stockholder Agreement in connection with the
proposed restructuring of the Company’s and its subsidiaries’ outstanding indebtedness pursuant to (i) exchange offers for the Company’s outstanding 11.625% Senior Notes due 2015 and Affinion Group, Inc.’s
(“AGI”) outstanding 11 1⁄2% Senior Subordinated Notes due 2015 and (ii) amendments to AGI’s amended and restated credit agreement
(collectively, the “Transactions”); and 
 WHEREAS, capitalized terms used and not otherwise defined herein have the
meanings set forth in the Stockholder Agreement. 
 NOW, THEREFORE, in consideration of the covenants and agreements contained herein and in
the Stockholder Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company agrees as follows: 

A. Amendments to the Stockholder Agreement. 

1. Section 2(d) – Board of Directors – Composition. The first sentence of Section 2(d) of the Stockholder Agreement
is hereby amended and restated to read as follows: 
 “(d) Composition. Subject to the Warrantholder Rights
Agreement, dated as of December 12, 2013, by and among the Company and the investors party thereto (the “Warrantholder Rights Agreement”), the Board shall consist of twelve members; provided, that, (x) the Board may
increase the size of the Board to the extent required by the rules of the exchange on which the Common Stock is listed, if any, to allow a majority of the Directors to be Independent Directors or to permit the full exercise of all rights provided in
this Section 2(d) and (z) the Board may decrease the size of the Board following a Termination Event or Multiple Nominee Termination Event but not to a number below the greater of (A) the number of Directors on the Board
immediately following such event and (B) the aggregate number of Directors that Persons have the right to nominate in accordance with this Section 2 after giving effect to such event.” 

 2. Section 10(a) of the Stockholder Agreement is hereby amended by adding the
following sentence at the end thereof: 
 “From and after such time as the Series B Warrants (as defined in the Warrant Agreement dated
as of December 12, 2013, by and between the Company and Wells Fargo Bank, National Association, as warrant agent) become exercisable (the “Control Event”), Sections 2(a), 2(b), 2(c), 2(d),
2(e), 2(g), 2(h), 3, 5 and 7(a) hereof shall be ineffective.” 
 3. From and after the
Control Event, the definition of “Board Rights” shall be amended by replacing it with the following: 
 ““Board
Rights” means all rights of any Person to nominate Directors to the Board as set forth in the Warrantholder Rights Agreement dated as of December 12, 2013, among the Company and the investors party thereto (the “Warrantholder
Rights Agreement”).” 
 4. From and after the Control Event, Section 2 of the Stockholder Agreement shall be
amended by adding the following new subsection 2(k): 
 “2(k) Directors. From and after the occurrence of the Control Event (as
defined below) each Major Stockholder agrees to vote all its Common Shares on matters subject to the vote of such Major Stockholder and to take all other necessary or desirable actions within its control (whether in such Major Stockholder’s
capacity as a Major Stockholder or otherwise, including attendance at meetings in person or by proxy for purposes of obtaining a quorum and execution of written consents in lieu of meetings), and the Company shall, as promptly as practicable, take
all necessary and desirable actions within its control (including calling special meetings of the Board and the Major Stockholder), so that each of the Directors whom the holders of class A common stock, par value $0.01 per share, of the Company
(the “Class A Common Stock,” and such Directors, the “Class A Directors”), are entitled to nominate and elect shall be appointed or elected from nominees determined as follows: 

(i) each Major Stockholder shall have the right to nominate one Class A Director for so long as it beneficially owns, together with its
Affiliates, at least 5% of the issued and outstanding Common Shares on a fully diluted basis; provided, that, for the foregoing purposes, Common Shares owned by any other Persons that were stockholders of Webloyalty Holdings, Inc. immediately
prior to the acquisition of Webloyalty Holdings, Inc. by Affinion Group, Inc. shall be deemed to be owned by General Atlantic and its Affiliates; 

(ii) Apollo shall have the right, together with its Board Rights Transferees, if any, to nominate one additional Class A Director for so
long as it beneficially owns, together with its Affiliates, at least 10% of the issued and outstanding Common Shares on a fully diluted basis; and 

  
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 (iii) the holders of a majority of the issued and outstanding shares of Class A Common
Stock shall nominate the remaining Class A Directors; and 
 (iv) notwithstanding anything to the contrary contained herein, if a Major
Stockholder ceases to qualify as a Major Stockholder, whether as a result of dilution, Transfer or otherwise, then the rights of the Major Stockholder under Section 2(k)(i) and all other provisions of this Section 2, as
applicable to such Major Stockholder’s Director nominee, shall terminate automatically (a “Post-Control Event Termination Event”); and if a Major Stockholder, together with its Affiliates, ceases to beneficially own the minimum
requisite percentage of the issued and outstanding Common Shares, whether as a result of dilution, Transfer or otherwise, to nominate a Director under Section 2(k)(ii), then the rights of such Major Stockholder under such Section and all
other related provisions of this Section 2 shall terminate automatically (a “Post-Control Event Multiple Nominee Termination Event”). Within three Business Days after the occurrence of a Post-Control Event Termination
Event or Post-Control Event Multiple Nominee Termination Event, as applicable, due to a Transfer or other action taken by a Major Stockholder, such Major Stockholder shall provide the Company with written notice of such event. Each Major Stockholder
shall cause its nominee or nominees, as applicable, to execute and deliver a resignation, substantially in the form attached thereto as Exhibit D, prior to becoming a Director which shall be irrevocable and shall be effective with respect to
the Company and any Subsidiaries for which such nominee becomes a Director automatically upon the occurrence of a Post-Control Event Termination Event or Post-Control Event Multiple Nominee Termination Event. For the avoidance of doubt, nothing
contained herein shall limit the ability of a Transferee to become a Major Stockholder in accordance with this Agreement.” 
 5.
Notwithstanding anything to the contrary contained in the Stockholder Agreement (including Section 10(k) thereof), the Holders (as defined in the Warrantholder Rights Agreement) shall be deemed to be third party beneficiaries of this Amendment
and the provisions of the Stockholder Agreement contained herein. 
 6. Effectiveness. Notwithstanding anything the contrary set
forth herein, this Amendment shall become effective only when and if the Transactions are consummated on the terms set forth in the Restructuring Support Agreement dated as of November 7, 2013. If the Restructuring Support Agreement is
terminated and the Transactions are not consummated on the terms set forth in the Restructuring Support Agreement, this Agreement shall terminate automatically and be of no force and effect without having given effect to any of the amendments
contemplated herein. 

  
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 B. Miscellaneous. Subject to the Warrantholder Rights Agreement, this Amendment and the
Stockholder Agreement contain the complete agreement among the Company, the undersigned and the Holders and supersede any prior understandings, agreements, letters of intent, or representations by or among such parties, written or oral, to the
extent they relate to the subject matter hereof. Except as specifically amended hereby, (i) the Stockholder Agreement shall remain in full force and effect, and (ii) the terms and provisions of Section 10 of the Stockholder
Agreement are incorporated herein by reference as if set forth herein in their entirety and shall apply mutatis mutandis to this Amendment. 

*      *      *      *     
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 This Amendment is executed by the Company, Apollo and General Atlantic to be effective as of the
date first above written. 
  

					
	THE COMPANY:
	
	AFFINION GROUP HOLDINGS, INC.
		
	By:	 	 /s/ Todd H. Siegel

		 	Name:	 	Todd H. Siegel
		 	Title:	 	Chief Executive Officer

  
 [Signature Page to
Amendment No. 3 to Stockholder Agreement] 

 
					
	AFFINION GROUP HOLDINGS, LLC.
		
	By:	 	 /s/ Marc E. Becker

		 	Name:	 	Marc E. Becker
		 	Title:	 	President

  
 [Signature Page to
Amendment No. 3 to Stockholder Agreement] 

 
					
	GAPCO GMBH & CO. KG
		
	By:	 	GAPCO Management GmbH,
		 	its General Partner
		
	By:	 	 /s/ Thomas J. Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director
	
	GAP COINVESTMENTS III, LLC
	By: General Atlantic LLC, its Managing Member
		
	By:	 	 /s/ Thomas J. Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director
	
	GAP COINVESTMENTS IV, LLC
	By: General Atlantic LLC, its Managing Member
		
	By:	 	 /s/ Thomas J. Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director
	
	GAPSTAR, LLC
		
	By:	 	 /s/ Thomas J. Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director

  
 [Signature Page to
Amendment No. 3 to Stockholder Agreement] 

 
					
	GAP-W HOLDINGS, L.P.
	By:	 	General Atlantic GenPar, L.P.,
		 	its General Partner
		
	By:	 	General Atlantic LLC,
		 	its General Partner
		
	By:	 	 /s/ Thomas J. Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director
	
	GENERAL ATLANTIC PARTNERS 79, L.P.
	By:	 	General Atlantic LLC,
		 	its General Partner
		
	By:	 	 /s/ Thomas J. Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director

  
 [Signature Page to
Amendment No. 3 to Stockholder Agreement]EX-10.6

 Exhibit 10.6 

AMENDMENT TO THE AMENDED AND RESTATED 

CONSULTING AGREEMENT 
 This
Amendment (this “Amendment”), dated as of December 12, 2013, is made by Affinion Group, Inc., a corporation organized under the laws of the State of Delaware (the “Company”) and Apollo Management V, L.P., a
Delaware limited partnership (“Apollo”), and acknowledged and consented to by General Atlantic Service Company, a Delaware limited liability company (“General Atlantic”). 

WHEREAS, the Company and Apollo are parties to that certain Amended and Restated Consulting Agreement, dated as of January 14, 2011 (the
“Consulting Agreement”); 
 WHEREAS, Section 12 of the Consulting Agreement provides, among other things, that the
Consulting Agreement may be amended by the written agreement of the Company and Apollo; 
 WHEREAS, reference is made to that certain letter
agreement by and between Apollo and General Atlantic, dated as of January 14, 2011, in respect of the Consulting Agreement, pursuant to which Apollo cannot agree to modify the Consulting Agreement except for such modifications that do not
adversely affect the rights of General Atlantic without the prior written consent of General Atlantic; 
 WHEREAS, the Company and Apollo
desire to amend the Consulting Agreement in connection with the proposed restructuring of the Company’s and its subsidiaries’ outstanding indebtedness pursuant to (i) exchange offers for the Company’s outstanding 11.625% Senior
Notes due 2015 and Affinion Group, Inc.’s (“AGI”) outstanding 11 1⁄2% Senior Subordinated Notes due 2015 and (ii) amendments to
AGI’s amended and restated credit agreement (collectively, the “Transactions”); and 
 WHEREAS, capitalized terms used
and not otherwise defined herein have the meanings set forth in the Consulting Agreement. 
 NOW, THEREFORE, in consideration of the
covenants and agreements contained herein and in the Consulting Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Apollo agree as follows: 

A. Amendments to the Consulting Agreement. 

1. Section 4(e). The first sentence of Section 4(e) of the Consulting Agreement is hereby amended and restated to read as
follows: 
 “(e) Accrual and Subordination of Payments. Notwithstanding anything to the contrary set forth
herein, Apollo hereby acknowledges and agrees that: (i) so long as the Holdings Senior Notes or any amounts thereunder are outstanding or otherwise unpaid in full, the Consulting Fee shall not be paid or payable by the Company or any of its
Affiliates; provided that, notwithstanding the Consulting Fee so not being paid or payable, the Consulting Fee shall continue to accrue so long as this Agreement remains in effect, and the Consulting Fee will become

 
payable after all of the Holdings Senior Notes and any and all amounts thereunder are no longer outstanding and are paid in full; and (ii) any and all amounts payable to Apollo or any of its
Affiliates under this Agreement shall be subordinated in all respects to any and all amounts outstanding from time to time under the Holdings Senior Notes. The holders of the Holdings Senior Notes shall be third party beneficiaries of the provisions
of this Section 4.” 
 2. Section 4(f). Section 4(f) of the Consulting Agreement is hereby amended by
adding the following definition as subclause (ii), and the remaining subclauses shall be re-numbered as as appropriate: 
 “(ii)
“Holdings Senior Notes” means the 13.75%/14.50% Senior Secured PIK/Toggle Notes due 2018 of Affinion Group Holdings, Inc. issued on or about December 12, 2013 (as may be increased for any in-kind payment thereon, but without
regard to any subsequent new issuances of notes under the indenture governing the Holdings Senior Notes).” 
 3. Notwithstanding
anything to the contrary contained in the Consulting Agreement, the Holders (as defined in the Warrantholder Rights Agreement) shall be deemed to be third party beneficiaries of this Amendment and the provisions of the Consulting Agreement contained
herein. 
 4. Effectiveness. Notwithstanding anything the contrary set forth herein, this Amendment shall become effective only when
and if the Transactions are consummated on the terms set forth in the Restructuring Support Agreement dated as of November 7, 2013. If the Restructuring Support Agreement is terminated and the Transactions are not consummated on the terms set
forth in the Restructuring Support Agreement, this Agreement shall terminate automatically and be of no force and effect without having given effect to any of the amendments contemplated herein. 

B. Miscellaneous. Subject to the Warrantholder Rights Agreement, this Amendment and the Consulting Agreement contain the complete
agreement among the Company, Apollo, General Atlantic and the Holders (as defined in the Warranholder Rights Agreement) and supersede any prior understandings, agreements, letters of intent, or representations by or among such parties, written or
oral, to the extent they relate to the subject matter hereof. Except as specifically amended hereby, (i) the Consulting Agreement shall remain in full force and effect, and (ii) the terms and provisions of Section 8 through
15 of the Consulting Agreement are incorporated herein by reference as if set forth herein in their entirety and shall apply mutatis mutandis to this Amendment. 

*      *      *      *     
 * 

  
 2 

 This Amendment is executed by the Company and Apollo to be effective as of the date first above
written. 
  

					
	AFFINION GROUP, INC.
		
	By:	 	 /s/ Todd H. Siegel

		 	Name:	 	Todd H. Siegel
		 	Title:	 	Chief Executive Officer

  
 [Signature Page to
Amendment to Consulting Agreement] 

 
					
	APOLLO MANAGEMENT V, L.P.
		
	By:	 	AIF V Management, LLC, its general partner
		
	By:	 	 /s/ Marc E. Becker

		 	Name:	 	Marc E. Becker
		 	Title:	 	Vice President

  
 [Signature Page to
Amendment to Consulting Agreement] 

 Acknowledged and consented to by: 
  

					
	GENERAL ATLANTIC SERVICE COMPANY, LLC
		
	By:	 	 /s/ Thomas J. Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Vice President

  
 [Signature Page to
Amendment to Consulting Agreement]

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