Document:

Form of The Western Union Company Executive Severance Plan

 Exhibit 10.7 
 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level) Effective ________________ 
  

	1.	Purpose 

 This severance/change in control
policy (the “Policy”) is established by The Western Union Company, a Delaware corporation (“Western Union”), to enable Western Union to offer a form of income protection to its Eligible Executives in the event their employment
with the Company is involuntarily terminated other than for Cause. The Policy is also intended to secure for the benefit of the Company the services of the Eligible Executives in the event of a potential or actual Change in Control without concern
for whether such executives might be hindered in discharging their duties by the personal uncertainties and risks associated with a Change in Control, by affording such executives the opportunity to protect the share value they have helped create as
of the date of any Change in Control and offering income protection to such executives in the event their employment terminates involuntarily or for Good Reason in connection with a Change in Control. 
 This Policy shall constitute a “welfare plan” within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”) and shall be construed in a manner consistent with such intent. 
  

	2.	Effective Date 

 The effective date of this
Policy is _____________, 2006 (the “Effective Date”). 
  

	3.	Definitions 

 Base Salary means
the Eligible Executive’s current annualized rate of base cash compensation as paid on each regularly scheduled payday for the executive’s regular work schedule as of his or her Termination Date and including any before-tax contributions
that are deducted for Company benefit plan purposes. Base Salary shall not include taxable or nontaxable fringe benefits or awards, vacation, performance awards, bonus, commission or other incentive pay, or any payments which are not made on each
regular payday, regardless of how such payments may be characterized. 
 Board means the Board of Directors of Western Union.

 Cause means the willful and continued failure by an Eligible Executive to substantially perform the duties assigned by the
Company (other than a failure resulting from Disability), the willful engagement by an Eligible Executive in conduct which is demonstrably injurious to the Company (monetarily or otherwise), any act of dishonesty, the commission of a felony, the
continued failure by an Eligible Executive to meet performance standards, an Eligible Executive’s excessive absenteeism or a significant violation by an Eligible Executive of any statutory or common law duty of loyalty to the Company.

 Change in Control means 
  

	 	(a)	 the acquisition by any individual, entity or group (a “Person”), including any “person” within the meaning of Section 13(d)(3) or 14(d)(2)
of the Exchange Act, of beneficial ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act, of 25% or more of either (i) the then outstanding shares of common stock of Western Union (the “Outstanding Common
Stock”) or (ii) the combined voting power of the then outstanding securities of Western Union entitled to vote generally in the election of directors (the “Outstanding Voting Securities”); excluding, however, the following:
(A) any acquisition directly from Western Union (excluding any acquisition resulting from the exercise of an exercise, conversion or exchange privilege unless the security being so exercised, converted or exchanged was acquired directly from
Western Union), (B) any acquisition by Western Union, (C) any acquisition by an employee benefit plan (or 

 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

	 	 
related trust) sponsored or maintained by Western Union or any corporation controlled by Western Union or (D) any acquisition by any corporation
pursuant to a transaction which complies with clauses (i), (ii), and (iii) of subsection (c) of this definition; provided further, that for purposes of clause (B), if any Person (other than Western Union or any employee benefit plan (or
related trust) sponsored or maintained by Western Union or any corporation controlled by Western Union) shall become the beneficial owner of 25% or more of the Outstanding Common Stock or 25% or more of the Outstanding Voting Securities by reason of
an acquisition by Western Union, and such Person shall, after such acquisition by Western Union, become the beneficial owner of any additional shares of the Outstanding Common Stock or any additional Outstanding Voting Securities and such beneficial
ownership is publicly announced, such additional beneficial ownership shall constitute a Change in Control; 

  

	 	(b)	the cessation of individuals who constitute the Board (the “Incumbent Board”) as of the date this Policy is adopted by the Committee, to constitute at least a majority of
such Incumbent Board; provided that any individual who becomes a director of Western Union subsequent to the date this Policy is adopted by the Committee whose election, or nomination for election by Western Union’s stockholders, was approved
by the vote of at least a majority of the directors then comprising the Incumbent Board shall be deemed a member of the Incumbent Board; and provided further, that any individual who was initially elected as a director of Western Union as a result
of an actual or threatened solicitation by a Person other than the Board for the purpose of opposing a solicitation by any other Person with respect to the election or removal of directors, or any other actual or threatened solicitation of proxies
or consents by or on behalf of any Person other than the Board shall not be deemed a member of the Incumbent Board; 

  

	 	(c)	the consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of Western Union (a “Corporate
Transaction”); excluding, however, a Corporate Transaction pursuant to which (i) all or substantially all of the individuals or entities who are the beneficial owners, respectively, of the Outstanding Common Stock and the Outstanding
Voting Securities immediately prior to such Corporate Transaction will beneficially own, directly or indirectly, more than 60% of, respectively, the outstanding shares of common stock, and the combined voting power of the outstanding securities
entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Corporate Transaction (including, without limitation, a corporation which as a result of such transaction owns Western Union or all
or substantially all of Western Union’s assets either directly or indirectly) in substantially the same proportions relative to each other as their ownership, immediately prior to such Corporate Transaction, of the Outstanding Common Stock and
the Outstanding Voting Securities, as the case may be, (ii) no Person (other than Western Union; any employee benefit plan (or related trust) sponsored or maintained by Western Union or any corporation controlled by Western Union; the
corporation resulting from such Corporate Transaction; and any Person which beneficially owned, immediately prior to such Corporate Transaction, directly or indirectly, 25% or more of the Outstanding Common Stock or the Outstanding Voting
Securities, as the case may be) will beneficially own, directly or indirectly, 25% or more of, respectively, the outstanding shares of common stock of the corporation resulting from such Corporate Transaction or the combined voting power of the
outstanding securities of such corporation entitled to vote generally in the election of directors and (iii) individuals who were members of the Incumbent Board will constitute at least a majority of the members of the board of directors of the
corporation resulting from such Corporate Transaction; or 

  

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 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

	 	(d)	the consummation of a plan of complete liquidation or dissolution of Western Union. 

 Committee means the Compensation and Benefits Committee of the Board or its delegate or successor. 
 Company means Western Union or its subsidiaries or any successor (whether direct or indirect, by purchase, merger, consolidation, reorganization or otherwise, including, without limitation, any successor due to a Change in
Control) to the business or assets of Western Union, except that for purposes of Section 16, the definition of Change of Control and other provisions where the context so requires, Company means Western Union or any such successor. 

Disability means the inability of the Eligible Executive to substantially perform such executive’s duties and responsibilities due
to a physical or mental condition (i) that would entitle such executive to benefits under the Company’s long-term disability plan or, if the Committee deems it relevant, any disability rights provided as a matter of local law or
(ii) if such executive is not eligible for long-term disability benefits under any plan sponsored by the Company, that would, as determined by the Committee, entitle such executive to benefits under the Company’s long-term disability plan
if the executive were eligible therefor. 
 Eligible Executive means an individual who is designated by Western Union as an
insider for purposes of Section 16 of the Exchange Act and who is a member of Western Union’s Executive Committee on the earlier of his or her Termination Date or the date of a Change in Control. 
 Exchange Act means the Securities Exchange Act of 1934, as amended. 
 Good Reason means any one or more of the following: (i) action by the Company resulting in a diminution of the Eligible
Executive’s titles or positions with the Company, (ii) a reduction in the Eligible Executive’s Base Salary or bonus, or (iii) action by the Company to require the relocation of the Eligible Executive more than thirty-five
(35) miles from the Eligible Executive’s current principal work location without the executive’s consent. Within 30 days after the Eligible Executive becomes aware of one or more actions or inactions described in the preceding
sentence, the Eligible Executive shall deliver written notice to the Company of the action(s) or inaction(s) (the “Good Reason Notice”). The Company shall have 30 days after the Good Reason Notice is delivered to cure the particular
action(s) or inaction(s). If the Company so effects a cure, the Good Reason Notice will be deemed rescinded and of no further force and effect. 
 Severance Benefits means the benefits payable to an Eligible Executive pursuant to this Policy, other than the Change in Control-related benefits payable pursuant to Sections 7(c)(ii) and 8 hereof. 
 Severance Period means with respect to Western Union’s Chief Executive Officer the 36 consecutive month period commencing on the
executive’s Termination Date and with respect to all other Eligible Executives the 24 consecutive month period commencing on the executives’ Termination Date. 
 Termination Date means the date on which the Eligible Executive’s employment with the Company terminates for a reason set forth under Section 5. 
  

	4.	Eligibility 

 All Eligible Executives who
have been on the Company’s or a Company subsidiary’s or affiliate’s payroll for at least three months are eligible to receive benefits according to the terms of this Policy. Executives are not eligible for any benefits under this
Policy during the first three months of their employment. 
  

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 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

	5.	Eligible Termination Reasons 

  

	 	(a)	Prior to the occurrence of a Change in Control, action by the Company (or in the case of an Eligible Executive employed by a subsidiary of the Company, by such subsidiary) to
involuntarily terminate the employment of an Eligible Executive with the Company (and its subsidiaries), but not including a termination of employment on account of death, Disability or for Cause. 

  

	 	(b)	After the occurrence of a Change in Control, (i) action by the Company (or in the case of an Eligible Executive employed by a subsidiary of the Company, by such subsidiary) to
involuntarily terminate the employment of an Eligible Executive with the Company (and its subsidiaries), but not including a termination of employment on account of death, Disability or for Cause, or (ii) voluntary termination of employment by
an Eligible Executive for Good Reason during the period commencing on and ending twenty-four (24) months after the date of the Change in Control. 

  

	6.	Non-Eligible Termination Reasons 

 A
non-eligible termination reason is any reason for an Eligible Executive’s termination of employment by the Company and its subsidiaries that is not an eligible termination reason described in Section 5. 
  

	7.	Severance and Change in Control Benefits. The provisions of this Section are subject, without limitation, to the provisions of Section 9 hereof.

  

	 	(a)	Severance Pay. If an Eligible Executive’s employment with the Company is terminated after the Effective Date for any reason set forth in Section 5, the Company
shall pay the Eligible Executive the following amounts: 

  

	 	(i)	An amount equal to 2 multiplied by the sum of (1) the Eligible Executive’s Base Salary and (2) the target bonus payable to the Eligible Executive pursuant to the
Company’s Senior Executive Incentive Plan (or the bonus plan then applicable to the executive), for the year in which the Termination Date occurs. 

  

	 	(ii)	A prorated amount of the Eligible Executive’s target bonus under the Company’s Senior Executive Incentive Plan (or the bonus plan then applicable to the executive) for the
year in which the Termination Date occurs. Such prorated amount shall be equal to the product of (1) the Eligible Executive’s target bonus for the year in which the Termination Date occurs and (2) the ratio of the number of days
elapsed during such year prior to the Termination Date to 365. 

  

	 	(iii)	For purposes of this subsection (a), if an Eligible Executive’s annual target bonus has not yet been established for the year in which the Termination Date occurs, the Eligible
Executive’s annual target bonus for the immediately preceding year shall be used to determine the Eligible Executive’s Severance Pay. If no such prior year target bonus exists with respect to the Eligible Executive, the target bonus
established for a similarly situated Eligible Executive shall be used, as determined by the Committee. 

  

	 	(b)	 Continued Health Benefits Coverage. If an Eligible Executive’s employment with the Company is terminated after the Effective Date for any reason set
forth in Section 5, the Eligible Executive 

  

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 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

	 	 
and his or her eligible dependents shall be given the opportunity to elect continued group health coverage under the Consolidated Omnibus Budget
Reconciliation Act of 1986, as amended (“COBRA”) with respect to all group health plans in which the Eligible Executive and his or her dependents were participating immediately prior to such termination. Provided that the Eligible
Executive (and/or his or her dependents) timely elects such coverage,                      the Company shall pay to the Eligible Executive, as an
additional Severance Benefit, a lump sum approximately equal to the difference in cost between COBRA premiums and active employee premiums for 18 months of COBRA coverage as calculated by the Company in its discretion as of the Termination Date,
which payment shall constitute taxable income to the Eligible Executive and which shall be paid in a lump sum on the first date in which the Eligible Executive begins to receive Severance Payments under this Policy. An Eligible Executive receiving
Severance Benefits under this Policy shall also be entitled to receive during the Severance Period any financial planning benefits which the Eligible Executive was receiving as of the Termination Date, but shall not be entitled to receive any other
perquisites after such date. Notwithstanding the foregoing, the executive’s continued group health coverage under this subsection shall cease as of the date the executive becomes eligible to receive such benefits under a subsequent
employer’s benefit programs, to the extent permitted under COBRA. Eligible Executives receiving Severance Benefits under this Policy are not eligible to continue contributions to the Company’s qualified retirement plans or nonqualified
deferred compensation program. 

  

	 	(c)	Equity-Based Awards 

  

	 	(i)	Non-Change in Control. If an Eligible Executive’s employment with the Company is terminated for an eligible termination reason described in Section 5(a), all
outstanding equity-based awards granted to the Eligible Executive under The Western Union Company 2006 Long-Term Incentive Plan (or a successor plan) (hereinafter the “LTIP”) that are eligible to become fully vested and exercisable
contingent upon the Eligible Executive’s continued employment and the passage of time (whether or not the Company or the executive have attained any specified performance goals) (“Time Vested Awards”), other than Time Vested Awards
that are Stock Awards (as defined in the LTIP), shall continue to vest solely on account of the passage of time during the Eligible Executive’s Severance Period and be exercisable in accordance with their terms until the end of the Eligible
Executive’s Severance Period (or, if earlier, the expiration of the original term of the award) but not thereafter. If an Eligible Executive’s employment with the Company is terminated for an eligible termination reason described in
Section 5(a), all Time Vested Awards granted to the Eligible Executive under the LTIP that are Stock Awards shall vest on a prorated basis effective on the Eligible Executive’s Termination Date. Such prorated vesting shall be calculated on
a grant-by-grant basis by multiplying the number of unvested shares subject to each Stock Award by a fraction, the numerator of which is the number of days that have elapsed between the grant date and the Eligible Executive’s Termination Date
and the denominator of which is the number of days between the grant date and the date the shares would have become fully vested had the Eligible Executive not terminated his or her employment. This subsection shall not affect the vesting,
exercisability or payment of any LTIP award that is not a Time Vested Award. 

  

	 	(ii)	 Change in Control. In the event of a Change in Control, all outstanding equity-based awards granted to the Eligible Executive under the LTIP that are Time
Vested Awards (including but not limited to grants of nonqualified stock options, stock appreciation 

  

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 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

	 	 
rights, restricted stock awards, and restricted stock unit awards) shall become fully vested and exercisable or payable as of the effective date of the
Change in Control. In addition, in the event of a Change in Control, all outstanding equity-based awards granted to the Eligible Executive under the LTIP that are not Time Vested Awards and that are eligible to become exercisable, vested or payable
(or which provide for accelerated exercisability, vesting or payment) upon the attainment of specified performance goals shall become fully vested and exercisable or payable as if any applicable performance period had lapsed and as if the
performance goals had been satisfied at the target level (or, if greater, based upon actual performance) as of the effective date of the Change in Control. In the event this subsection applies, nonqualified stock options and stock appreciation
rights granted to an Eligible Executive shall remain exercisable until the earliest of the end of the Eligible Executive’s Severance Period, if applicable, the date otherwise provided for in the LTIP if the Eligible Executive terminated
employment for a non-eligible termination reason described in Section 6, or the expiration of the original term of the award. 

  

	 	(d)	Legal Fees. If after exhausting the administrative remedies provide for in Section 19 herein, an Eligible Executive commences litigation and as a result thereof, whether
by judgment or settlement, becomes entitled to receive benefits in an amount greater than prior to such litigation, the Company shall pay the reasonable legal fees and related expenses incurred by the Eligible Executive in connection with such
litigation. 

  

	8.	Certain Additional Payments 

  

	 	(a)	Notwithstanding anything in this Policy to the contrary, in the event it is determined that any payments or benefits provided by the Company to or on behalf of an Eligible Executive
(whether pursuant to the terms of this Policy or otherwise) (any such payments or benefits being referred to in this Section as “Payments”), but determined without taking into account any additional payments required under this Section,
would be subject to the excise tax imposed by Code Section 4999, or any interest or penalties are incurred by the Eligible Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, collectively
referred to herein as the “Excise Tax”), then the Eligible Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount so that after payment by the Eligible Executive of all federal, state and
local taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any federal, state or local income taxes (and any interest and penalties imposed with respect thereto) and the Excise Tax imposed
upon the Gross-Up Payment, the Eligible Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. Notwithstanding the foregoing, if it is determined that the Eligible Executive otherwise would be entitled
to a Gross-Up Payment, but that the Payments to the Eligible Executive do not exceed 110% of the amount which is one dollar less than the smallest amount that would give rise to any Excise Tax (the “Reduced Amount”), then no Gross-Up
Payment shall be made to the Eligible Executive and the Payments shall be reduced to the Reduced Amount. In such event, the reduction will occur in the following order unless the Eligible Executive elects in writing a different order (provided,
however, that such election shall be subject to Company approval if made on or after the date on which the event that triggers the Payment occurs): (i) reduction of cash payments; (ii) cancellation of accelerated vesting of equity awards;
and (iii) reduction of other employee benefits. If acceleration of vesting of compensation from an Eligible Executive’s equity awards is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of
grant unless the Eligible Executive elects in writing a different order for cancellation. 

  

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 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

	 	(b)	Subject to the provisions of Section 8(c), all determinations required to be made under this Section, including whether and when a Gross-Up Payment is required and the amount
of such Gross-Up Payment and the assumptions to be used in arriving at such determination, shall be made by the independent registered public accounting firm engaged by the Company for general audit purposes as of the day prior to the effective date
of the Change in Control (the “Accounting Firm”). In the event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Company shall appoint another nationally
recognized independent registered public accounting firm to make the determinations required hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder). The Accounting Firm shall provide its calculations, together
with detailed supporting documentation, to the Company and the Eligible Executive within fifteen (15) calendar days after the date on which the Eligible Employee’s right to Payment is triggered (if requested at that time by the Company or
the Eligible Executive) or such other time as requested by the Company or the Eligible Executive. All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Section 8,
shall be paid by the Company to the Eligible Executive within five days of the receipt of the Accounting Firm’s determination. If the Accounting Firm determines that no Excise Tax is payable by the Eligible Executive, it shall furnish the
Eligible Executive with a written opinion that no Excise Tax will be imposed. Any good faith determination by the Accounting Firm shall be binding upon the Company and the Eligible Executive. As a result of the uncertainty in the application of Code
Section 4999 at the time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments which will not have been made by the Company should have been made (“Underpayment”), consistent with the
calculations required to be made hereunder. In the event that the Company exhausts its remedies pursuant to Section 8(c) and the Eligible Executive thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine
the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of the Eligible Executive. 

  

	 	(c)	The Eligible Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require the payment by the Company of the Gross-Up
Payment. Such notification shall be given as soon as practicable but no later than 10 business days after the Eligible Executive is informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which
such claim is requested to be paid. The Eligible Executive shall not pay such claim prior to the expiration of the 30-day period following the date on which the Eligible Executive gives such notice to the Company (or such shorter period ending on
the date that any payment of taxes with respect to such claim is due). If the Company notifies the Eligible Executive in writing prior to the expiration of such period that it desires to contest such claim, the Eligible Executive shall:

  

	 	(i)	give the Company any information reasonably requested by the Company relating to such claim; 

  

	 	(ii)	take such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time, including, without limitation, accepting legal
representation with respect to such claim by an attorney reasonably selected by the Company; 

  

	 	(iii)	cooperate with the Company in good faith in order effectively to contest such claim; and 

  

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 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

	 	(iv)	permit the Company to participate in any proceedings relating to such claim; 

 provided, however, that the Company shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred by the Eligible Executive in connection with such contest and shall
indemnify and hold the Eligible Executive harmless, on an after-tax basis, for any Excise Tax or federal, state or local income tax (including interest and penalties with respect thereto) imposed as a result of such representation and payment of
costs and expenses. Without limitation on the foregoing provisions of this Section 8(c), the Company shall control all proceedings taken in connection with such contest and, at its sole option, may pursue or forgo any and all administrative
appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct the Eligible Executive to pay the tax claimed and sue for a refund or contest the claim in any permissible
manner, and the Eligible Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided further, that
if the Company directs the Eligible Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to the Eligible Executive on an interest-free basis and shall indemnify and hold the Eligible Executive
harmless, on an after-tax basis, from any Excise Tax or federal, state or local income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with respect to such
advance; and provided further, that any extension of the statute of limitations relating to payment of taxes for the taxable year of the Eligible Executive with respect to which such contested amount is claimed to be due is limited solely to such
contested amount. Furthermore, the Company’s control of the contest shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and the Eligible Executive shall be entitled to settle or contest, as the case
may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 
  

	 	(d)	If, after the receipt by the Eligible Executive of an amount advanced by the Company pursuant to Section 8(c), the Eligible Executive becomes entitled to receive, and receives,
any refund with respect to such claim, the Eligible Executive shall (subject to the Company’s complying with the requirements of Section 8(c)) promptly pay to the Company the amount of such refund (together with any interest paid or
credited thereon after taxes applicable thereto). If, after the receipt by the Eligible Executive of an amount advanced by the Company pursuant to Section 8(c), a determination is made that the Eligible Executive shall not be entitled to any
refund with respect to such claim and the Company does not notify the Eligible Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall be forgiven and
shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 

  

	9.	Requirement of Release and Restrictive Covenant 

 The provision of Severance Benefits under this Policy is conditioned upon the Eligible Executive timely signing an Agreement and Release (in a form satisfactory to the Company) which will include restrictive covenants and a comprehensive
release of all claims. In this Agreement and Release, the Eligible Executive will be asked to release the Company and its directors, officers, employees and agents from any and all claims the Eligible Executive may have against them, including but
not limited to any contract, tort, or wage and hour claims, and any claims under Title VII, the ADEA, the ADA, ERISA, and other federal, state or local laws. Under the Agreement and Release, the Eligible Executive must also agree not 

  

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 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

 
to solicit business similar to any business offered by the Company from any Company customer, not to advise any entity to cancel or limit its business with
the Company, not to recruit, solicit, or encourage any employee to leave their employment with the Company, not to perform the same or substantially the same functions or job duties that the Eligible Executive performed for the Company for any
business enterprise engaging in activities that compete with the business activities of the Company, not to disclose any of Company’s trade secrets or confidential information, and not to disparage the Company or its employees in any way. These
obligations are in addition to any other non-solicitation, noncompete, nondisclosure, or confidentiality agreements the Eligible Executive may have executed while employed by Company. No Severance Benefits will commence under this Policy prior to
the eighth day following the date on which the Company has received the Eligible Executive’s fully executed Agreement and Release. 
  

	10.	Method of Payment 

 Cash Severance Benefits
payable hereunder to an Eligible Executive under the Policy on account of a termination of employment that occurs prior to a Change in Control, other than the amount payable pursuant to Section 7(b) shall be paid in substantially equal
installments consistent with the Company’s executive payroll practice during the Executive’s Severance Period. Cash Severance Benefits payable hereunder to an Eligible Executive under the Policy on account of a termination of employment
that occurs on or after the date a Change in Control occurs shall be paid in a lump sum. Payment of cash Severance Benefits under this Policy shall commence on or as soon as administratively practical following the date which is six months after the
Eligible Executive’s Termination Date and shall be paid in full no later than the end of the Eligible Executive’s Severance Period. In no event shall payment of any Severance Benefit be made prior to the effective date of the release
described in Section 9 above. In all cases, the payment of Severance Benefits under this Policy shall comply with the provisions of Section 409A of the Internal Revenue Code of 1986, as amended, to the extent applicable. If an Eligible
Executive dies after becoming eligible for Severance Benefits and executing an Agreement and Release but before full receipt of all cash Severance Benefits, the remaining cash Severance Benefits will be paid to the Eligible Executive’s estate
in one lump sum. If an Eligible Executive dies after becoming eligible for Severance Benefits but before executing an Agreement and Release, his or her estate or representative may not execute an Agreement and Release and no Severance Benefits with
respect to the Eligible Executive are payable under this Policy. All payments under this Policy will be net of amounts withheld with respect to taxes, offsets, or other obligations. 
  

	11.	Offsets  

 The Company may, in its discretion
and to the extent permitted under applicable law, offset against the Eligible Executive’s benefits under this Policy any other severance or termination benefits payable to the Eligible Executive by the Company (whether by contract or as a
result of the requirements of applicable law), the value of unreturned property, and any outstanding loan, debt or other amount the Eligible Executive owes to the Company. The Company may recover any overpayment of benefits made to an Eligible
Executive or an Eligible Executive’s estate under this Policy or, to the extent permitted by applicable law, offset any other overpayment made to the Eligible Executive against any Policy benefits or other amount the Company owes the Eligible
Executive or the Eligible Executive’s estate. 
  

	12.	Outplacement 

 In the Committee’s sole
and absolute discretion, Eligible Executives who are eligible for Severance Benefits under the Policy also may be eligible for outplacement services selected by the Company. Eligibility for and the scope of any outplacement services will be
determined in the sole discretion of the 

  

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 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

 
Committee. Under no circumstances shall any Eligible Executive be eligible to receive a cash payment in lieu of outplacement services. 
  

	13.	Re-employment and Other Employment 

 In the
event an Eligible Executive is re-employed by the Company prior to the commencement of or within the Severance Period, the payment of any Severance Benefits payable with respect to the prior termination immediately will cease and such Severance
Benefits shall no longer be payable under this Policy. 
 Subject to Section 9 of this Policy, if an Eligible Executive obtains
employment (other than with the Company) while receiving Severance Benefits, the Eligible Executive shall continue to receive any remaining cash Severance Benefits in accordance with the payment schedule then in effect, but, except as otherwise
required under applicable law, he or she will no longer be eligible to receive continued benefits under Section 7(b) of this Policy as of the date the executive becomes eligible to receive such benefits under a subsequent employer’s
benefit programs. 
  

	14.	Funding 

 This Policy is not funded, and
payment of benefits hereunder shall be made solely from the general assets of the Company. An Eligible Executive entitled to benefits hereunder shall have only the rights of a general creditor of the Company. 
  

	15.	Administration 

 This Policy shall be
administered by the Committee, which as the Named Fiduciary shall have the absolute discretion and exclusive right to interpret, construe and administer the Policy and to make final determinations on all questions arising under the Policy, including
but not limited to questions concerning eligibility for, the amount of and receipt of Policy benefits. All decisions of the Committee will be conclusive, final and binding upon the parties. Notwithstanding the foregoing, upon the occurrence of a
Change in Control, determinations of the Committee hereunder shall be subject to de novo judicial review. 
  

	16.	Amendment or Termination of the Policy 

 The
Company reserves the right to amend or terminate this Policy at any time in its sole discretion, provided, however, that during the period commencing upon the earliest of (a) the signing of a definitive agreement that, if consummated,
would result in a Change in Control, (b) the filing of a tender offer with the Securities and Exchange Commission that, if accepted, would result in a Change in Control, or (c) the election of a director to the Board who is not a member of
the Incumbent Board (each, a “Triggering Event”) and ending upon the earlier of (x) the date on which the Committee in its sole discretion determines that the Triggering Event will not actually result in a Change in Control, or
(y) the 36 month anniversary of the Change in Control, the Company shall not amend or terminate this Policy without the consent of each affected Eligible Executive. 
  

	17.	Limitation on Individually Negotiated Severance Arrangements  

 As of the Effective Date, this Policy is intended to be the sole source of severance and change in control benefits for Eligible Executives. Absent prior Board approval, no individual agreement shall be entered into
with any Eligible Executive or any person being considered for promotion or hire as an Eligible Executive which would provide severance or change in control-type benefits. 
  

 - 10 - 

 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

	18.	Miscellaneous 

 No executive shall vest in
any entitlement to or eligibility for benefits under this Policy until he or she has satisfied all requirements for eligibility and the conditions required to receive the benefits specified in this Policy have been satisfied. No interest shall
accrue on any benefit to which an Eligible Executive may be entitled under this Policy. No benefits hereunder, whether or not in pay status, shall be subject to any pledge or assignment, and no creditor may attach or garnish any Eligible
Executive’s Policy benefits. This Policy does not create any contract of employment or right to employment for any period of time. Employment with the Company is at-will, and may be terminated by either the Company or the Eligible Executive at
any time for any reason. 
  

	19.	Review Procedure 

 Executives eligible to
receive benefits under this Policy will be notified of such eligibility as soon as administratively practicable after the event occurs which gives rise to the provision of Policy benefits. If an executive who believes he or she is eligible to
receive Policy benefits does not receive such notice or disagrees with the amount of benefits set forth in such notice, or if an executive is informed that he or she is not eligible for benefits under this Policy, the executive (or his or her legal
representative) may file a written claim for benefits with the Company’s senior human resources executive or such other officer or body designated by the Committee for this purpose. The written claim must include the facts supporting the claim,
the amount claimed, and the executive’s name and mailing address. 
 If the claim is denied in part or in full, the Company’s senior
human resources executive (or other designated officer or body) will notify the executive by mail no later than 90 days (or 180 days in special circumstances) after receipt of the written claim. The notice of denial will state the specific reasons
for the denial, the provisions of the Policy on which the denial is based, a description of any additional information or material required by the Committee to consider the claim if applicable, as well as an explanation as to why such information or
material is necessary, an explanation of the Policy’s review procedures and the time limits applicable to such procedures, and the executive’s right to bring a civil action under ERISA Section 502(a) in the event of an adverse
determination upon review. 
 An executive (or his or her legal representative) may appeal the denial by filing a written appeal with the
Committee. The written appeal must be received no later than 60 days after the executive or legal representative received the notice of denial. During the same 60-day period, the executive or legal representative may have reasonable access to
pertinent documents and may submit written comments and supporting documents, records and other materials to the Committee. The Committee will review the appeal and notify the executive or legal representative by mail of its final decision no later
than the next regularly scheduled Committee meeting, or if the appeal is received less than 30 days before such meeting, the second regularly scheduled meeting after the Committee receives the written appeal. 
 Rights Under the Employee Retirement Income Security Act (ERISA) 
 As a participant in the Policy, an Eligible Executive is entitled to certain rights and protections under ERISA which provides that all Policy participants shall be entitled to: 
 Receive Information About The Policy And Benefits 
 The executive may examine, without charge, at the plan administrator’s office and at other specified locations such as worksites, all documents governing the plan and a copy of the latest annual report 

  

 - 11 - 

 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

 
(Form 5500 Series) filed with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration.

 The executive may obtain, upon written request to the plan administrator, copies of documents governing the operation of the Policy
including copies of the latest annual report (Form 5500 Series). The administrator may make a reasonable charge for the copies. 
 The
executive may receive a summary of the plans’ annual financial report. The plan administrator is required by law to furnish each participant with a copy of this summary annual report. 
 Prudent Actions by Policy Fiduciaries 
 In addition to creating rights for Policy participants, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people who operate the Policy, called “fiduciaries” of the
Policy, have a duty to do so prudently and in the interest of the Policy participants and beneficiaries. No one, including an executive’s employer or any other person, may fire an executive or otherwise discriminate against an executive in any
way to prevent such executive from obtaining a welfare benefit or exercising his or her rights under ERISA. 
 Enforcement of
Rights 
 If an executive’s claim for benefits is denied or ignored, in whole or in part, the executive has a right to know why
this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. 
 Under ERISA, there are steps that can be taken to enforce the above rights. For example, if an executive requests a copy of Policy documents or the latest annual report from the Policy and does not receive them within 30 days, the executive
may file suit in a Federal court. In such a case, the court may require the plan administrator to provide the materials, and pay the executive up to $110 a day until the executive receives the materials, unless the materials were not sent because of
reasons beyond the control of the administrator. If an executive has a claim for benefits which is denied or ignored, in whole or in part, he or she may file suit in a state or Federal Court. If it should happen that the Policy fiduciaries misuse
the plan’s money, or if an executive is discriminated against for asserting his or her rights, the executive may seek assistance from the U.S. Department of Labor, or may file a suit in a Federal court. The court will decide who should pay
court costs and legal fees. If the executive is successful the court may order the person the executive has sued to pay these costs and fees. If the executive loses, the court may order the executive to pay these costs and fees, for example, if it
finds the executive’s claim is frivolous. 
 Assistance With Questions 
 An executive who has questions about the Policy should contact the plan administrator. If an executive has any questions about this statement or about his
or her rights under ERISA, or if the executive needs assistance in obtaining documents from the plan administrator, he or she should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in a
telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, NW, Washington, D.C. 20210. The executive may also obtain certain publications
about his or her rights and responsibilities under ERISA by calling the publication’s hotline of the Employee Benefits Security Administration. 
  

 - 12 - 

 THE WESTERN UNION COMPANY 
 SEVERANCE/CHANGE IN CONTROL POLICY 
 (Executive Committee Level)

  

 ADDITIONAL INFORMATION 
 The details on the following chart are provided for the Eligible Executive’s information and possible use. 
  

					
	 Name of Policy
	  	Type of Policy	  	Policy Year:
	 The Western Union Company Severance/
 Change in Control Policy
	  	Welfare	  	1/1 - 12/31
	 (Executive Committee Level)
	  		  	

 Type of Policy Administration 
 Self-Administered 
 Policy Sponsor

 The Western Union Company 
 12500 E. Belford Avenue 
 Englewood, CO 80112 
 Plan Administrator 
 Compensation and Benefits Committee of the Board of Directors 
 c/o The Western Union Company 
 Office of the General Counsel 
 12500 E. Belford Avenue 
 Englewood, CO 80112 
 Agent for Service
of Legal Process 
 The Western Union Company 
 Office of the General Counsel 
 12500 E. Belford Avenue 
 Englewood, CO 80112 
 In addition, service of legal process may be made upon the Plan Administrator. 
 Identification Number (Policy Sponsor) 
 __ - __________ 
 Identification Number (Policy) 
 _____ 
 THIS DESCRIPTION OF THE WESTERN UNION COMPANY SEVERANCE/CHANGE IN CONTROL POLICY FOR EXECUTIVE COMMITTEE-LEVEL PARTICIPANTS SERVES AS THE OFFICIAL PLAN DOCUMENT AND AS THE LEGAL SUMMARY PLAN DESCRIPTION.

  

 - 13 -Form of The Western Union Company Supplemental Incentive Savings Plan

 Exhibit 10.8 
 The Western Union Company 
 Supplemental Incentive Savings Plan 
 ARTICLE I 
 PURPOSE AND HISTORY OF
THE PLAN 
 1.1 Plan History. The Western Union Company (the “Company”) hereby continues a portion of its
nonqualified deferred compensation plan as The Western Union Company Supplemental Incentive Savings Plan (the “Plan”) as a separate plan, effective as of the date that the Company was spun off from First Data Corporation (“Spin-Off
Date”). Effective as of the Spin-Off Date, the Plan is being spun off from the First Data SISP. 
 1.2 Accounts Spun Off From the
First Data SISP. The following accrued liabilities under the First Data SISP are hereby spun off from the First Data SISP and held in the Plan, effective as of the Spin-Off Date: 
  

	 	(a)	liability equal to the bookkeeping accounts for deferrals contributed after December 31, 2004, plus related earnings, by Participants who are Business Employees.

  

	 	(b)	liability equal to the bookkeeping accounts for employer matching contributions, Service-Related Contributions, and ISP Plus Contributions to the extent non-vested as of
December 31, 2004, and for employer matching contributions, Service-Related Contributions, and ISP Plus Contributions allocated after December 31, 2004, plus related earnings, by Participants who are Business Employees.

 For purposes of this Section 1.2, “Business Employees” means a Transferred Employee or any other individual employed at any
time on or prior to the Spin-Off Date by the Company or its Affiliates who has, as of the Spin-Off Date, or who, immediately prior to his or her termination of employment with all of First Data Corporation and its Affiliates, had employment duties
primarily related to the business of providing consumer to consumer money transfer services, consumer to business payment services, retail money order services and certain prepaid services. For purposes of this Section 1.2, “Transferred
Employee” means an employee of First Data Corporation or any of its Affiliates (other than the Company or any of its Affiliates) whose employment is transferred to the Company or any of its Affiliates immediately prior to the Spin-Off Date.

 1.3 Purpose of the Plan. The purpose of the Plan is to further the growth and development of the Company by enhancing the
Company’s ability to attract and retain select employees by providing a select group of senior management and highly compensated employees of the Company and its Affiliates the opportunity to defer a portion of their cash compensation. The Plan
is intended to provide Participants with an opportunity to supplement their retirement income through deferral of current 

  

			
		  	1

 
compensation. The Plan is an unfunded plan that is intended to comply with the requirements of Code § 409A. The Plan is intended to be an unfunded
plan maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees within the meaning of Title I of the Employee Retirement Income Security Act of 1974, as amended.

 ARTICLE II 
 DEFINITIONS 
 2.1 “Account” means the Participant’s Deferral Account, Western
Union Matching Account, First Data Matching Account, First Data ISP Plus Contributions Account, First Data Service-Related Contributions Account, and First Data eOne Global Employer Basic Contributions Account, if applicable. 
 2.2 “Affiliate” shall mean any entity which is treated as a single employer together with the Company pursuant to
Code § 414(b) or (c), and any other entity or organization designated as an Affiliate by the Committee. 
 2.3
“Base Salary” means a Participant’s annualized base salary, without taking into account (a) commissions, bonus amounts of any kind, reimbursements of expenses, income realized upon exercise of stock
options or sales of stock, or (b) deferrals of income under this Plan or any other employee benefit plan of the Company or an Affiliate. 
 2.4 “Board” means the Board of Directors of the Company. 
 2.5
“Bonus” means the payout amount earned by a Participant under one of the Company’s annual bonus or incentive compensation plans. 
 2.6 “Change in Control” means Change in Control as defined in The Western Union Company 2006 Long-Term Incentive
Plan, or a successor plan. 
 2.7 “Code” means the United States Internal Revenue Code of 1986, as
amended. 
 2.8 “Committee” means, prior to the Spin-Off Date, the First Data Corporation Employee
Benefits Committee, and, on and after the Spin-Off Date, The Western Union Company Employee Benefits Committee or its successor. 
 2.9
“Company” means The Western Union Company. 
 2.10 “Deferral
Account” means the record maintained by the Company for each Participant who has an account balance for the cumulative amount of (a) account balances accumulated under the First Data SISP with respect to deferred Salary and
Bonus amounts which were spun off from the First Data SISP into this Plan, (b) Salary or Bonus amounts deferred pursuant to this Plan, and (c) imputed gains or losses on those amounts accrued as provided in Article IV of the Plan.

  

			
		  	2

 2.11 “Deferred Compensation Agreement” means, collectively, the
written agreements between a Participant and the Company (or an Affiliate) or between a Participant and First Data Corporation (or any of First Data Corporation’s affiliates) in the form prescribed by the Committee, whereby a Participant
irrevocably agrees to defer a portion of his or her Salary and/or Bonus. 
 2.12 “Designated
Beneficiary” shall mean the person or persons designated by a Participant pursuant to rules prescribed by the Committee to receive any benefits payable pursuant to the Plan upon his or her death. In the absence of a beneficiary
designation, or if a Participant’s Designated Beneficiary dies prior to the Participant’s death, the Participant’s Designated Beneficiary shall be his or her surviving spouse, if any, and if none, his or her estate. 
 2.13 “Disability” or “Disabled” means the participant is (a) unable to engage
in any substantially gainful activity by reason of any medically determinable physical or 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 (b) is, by
reason of any medically determinable physical or 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 3 months under an accident or health plan covering employees of the Company. 
 2.14 “Distribution Election”
means the election in accordance with Section 3.3 by a Participant which specifies the time and form in which all or a portion of the Participant’s Account will be distributed to the Participant. 
 2.15 “Employee” means a full time employee on the United States payroll of the Company or an Affiliate. 

2.16 “First Data eOne Global Employer Basic Contributions Account” means the record maintained by the Company
for each Participant who has an account balance for the cumulative amount of (a) account balances accumulated under the First Data SISP with respect to First Data eOne Global Employer Basic Contributions which were spun off from the First Data
SISP to this Plan, and (b) imputed gains or losses on those amounts accrued as provided in Article IV of the Plan. 
 2.17
“First Data ISP Plus Contributions Account” means the record maintained by the Company for each Participant who has an account balance for the cumulative amount of (a) account balances accumulated under the
First Data SISP with respect to ISP Plus Contributions which were spun off from the First DATA SISP to this Plan, and (b) imputed gains or losses on those amounts accrued as provided in Article IV of the Plan. 
 2.18 “First Data Service-Related Contributions Account” means the record maintained by the Company for each
Participant who has an account balance for the cumulative amount of (a) account balances accumulated under the First Data SISP with 

  

			
		  	3

 
respect to Service-Related Contributions which were spun off from the First DATA SISP to this Plan, and (b) imputed gains or losses on those amounts
accrued as provided in Article IV of the Plan. 
 2.19 “First Data SISP” means the First Data
Corporation Supplemental Incentive Savings Plan and the First Data Corporation Supplemental Incentive Savings Plan-2. 
 2.20
“First Data Matching Account” means the record maintained by the Company for each Participant who has an account balance for the cumulative amount of (a) account balances accumulated under the First Data
SISP with respect to employer matching contributions which were spun off from the First Data SISP to this Plan, and (b) imputed gains or losses on those amounts accrued as provided in Article IV of the Plan. 
 2.21 “Incentive Savings Plan” or “ISP” means The Western Union Company
Incentive Savings Plan, as amended from time to time. 
 2.22 “Investment Fund” means any of the
notional investments as may be identified by the Company from time to time to which Participants may allocate all or any portion of their Accounts for purposes of determining the gains or losses to be assigned to the Accounts. Investment Funds shall
be notional, unfunded, and used solely for the purpose of determining imputed gains or losses in a Participant’s Account. Effective before the Spin-Off Date, the available Investment Fund and applicable earnings rate shall be the First Data
Fixed Interest Rate as determined under the First Data SISP. Effective after the Spin-Off Date and prior to January 1, 2007, Participants may choose to have gains or losses determined under (a) the available Investment Fund and applicable
earnings rate offered under the First Data SISP as of the Spin-Off Date or (b) the investment options available to participants under the Incentive Savings Plan, excluding any brokerage account option or any employer stock fund. Effective on
and after January 1, 2007, the available Investment Funds shall be the same investment options available to participants under the Incentive Savings Plan, excluding any brokerage account option or any employer stock fund. 
 2.23 “Participant” means an Employee who has satisfied the Plan’s eligibility criteria and who has entered
into a written Deferred Compensation Agreement in accordance with the provisions of the Plan. 
 2.24
“Person” shall have the meaning given in Section 3(a)(9) of the Securities Exchange Act of 1934, as modified and used in Sections 13(d) and 14(d) thereof, except that such term shall not include (i) the
Company or any of its subsidiaries, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its subsidiaries, (iii) an underwriter temporarily holding securities pursuant to an offering
of such securities, or (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company. 
  

			
		  	4

 2.25 “Plan” means The Western Union Company Supplemental Incentive Savings Plan.

 2.26 “Plan Year” means the calendar year. 
 2.27 “Potential Change in Control” means any of the following: if (a) the Company enters into an agreement, the consummation
of which would result in the occurrence of a Change in Control of the Company; (b) the Company or any person publicly announces an intention to take or consider taking actions which if consummated would constitute a Change in Control of the
Company; (c) any Person becomes the beneficial owner, directly or indirectly, of securities of the Company representing 9.5% or more of either the then outstanding shares of common stock of the Company or the combined voting power of the
Company’s then outstanding securities; unless that Person has filed a schedule under Section 13 of the Securities Exchange Act of 1934 and the rules and regulations promulgated under Section 13, and that schedule (including any and
all amendments) indicates that the Person has no intention to (i) control or influence the management or policies of the Company, or (ii) take any action inconsistent with a lack of intention to control or influence the management or
policies of the Company; or (d) the Board adopts a resolution to the effect that a Potential Change in Control has occurred. 
 2.28
“Salary” means a Participant’s Base Salary plus commissions and incentive compensation other than Bonus paid to the Participant for personal services rendered by the Participant to the Company during a calendar year.

 2.29 “Separation from Service” shall have the meaning assigned to it by Code § 409A and the regulations
thereunder. Whether an authorized leave of absence, or absence in military or government service, shall constitute a Separation from Service shall be determined by the Committee in accordance with Code § 409A. 
 2.30 “Severe Financial Hardship” means an unforeseeable emergency causing severe financial hardship to the
Participant resulting from one or more of the following: 
  

	 	(a)	Accident or illness of the Participant, the Participant’s spouse or dependent (as defined in Code § 152); 

  

	 	(b)	Loss of the Participant’s property due to casualty; and 

  

	 	(c)	Similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. 

 The purchase of a home or payment of college tuition is not a Severe Financial Hardship. The definition of Severe Financial Hardship and the amount available to the
Participant as a result of a Severe Financial Hardship shall be interpreted in accordance with Code § 409A. 
  

			
		  	5

 2.31 “Specified Employee” means an Employee who is “key employee” (as
defined in Code § 416(i) without regard to Code § 416(i)(5)) at any time during the 12-month period ending on the December 31 of a Plan Year (the “Identification Date”), excluding any Employee who is a nonresident
alien during the entire 12-month period ending with the Identification Date. An Employee shall be treated as a Specified Employee only for the 12-month period beginning on the next April 1 following the Identification Date. Any individual who
was a key employee of First Data Corporation as of the Spin-Off Date shall also be considered a key employee of the Company until the end of the 12-month period beginning on the first day of the fourth month following the most recent date before the
Spin-Off Date that First Data Corporation identified its key employees for purposes of determining specified employees. 
 2.32
“Spin-Off Date” means the date that the Company was spun off from First Data Corporation. 
 2.33 “Vested
Interest” means a Participant’s nonforfeitable interest in his or her Account, determined in accordance with Article V. 
 2.34 “Western Union Matching Account” means the record maintained by the Company for each Participant who has an account balance for the cumulative amount of (a) Company matching contribution
pursuant to this Plan, and (b) imputed gains or losses on those amounts accrued as provided in Article IV of the Plan. 
 2.35
“Year of Service” means a year of service as defined in The Western Union Company Incentive Savings Plan. 
 ARTICLE III 
 PARTICIPANT DEFERRALS AND COMPANY CONTRIBUTIONS 
 3.1 Eligibility. The Company shall identify those Employees who are eligible to contribute to the Plan. Eligibility to be a Participant in
the Plan and to contribute to the Plan is entirely at the discretion of the Company and shall be limited to a select group of senior management or highly compensated employees. Eligibility to contribute to the Plan for any calendar year shall not
confer the right to contribute during any subsequent year. 
 3.2 Deferrals. An eligible Employee may elect to defer up to 80%
of the Participant’s Salary and Bonus, subject to such additional guidelines and limitations adopted by the Committee, by entering into a Deferred Compensation Agreement in accordance with Section 3.3. The Salary and Bonus otherwise
payable to a Participant during each Plan Year beginning after the date of the election shall be reduced by the amount elected to be deferred, and the Participant’s Deferral Account shall be credited for the amount deferred. Employees shall
make separate elections with respect to deferrals of Salary and Bonus. Deferrals from Salary shall be withheld in substantially equal amounts from Salary payable for the Plan Year to which the Deferred Compensation Agreement relates. Deferrals from
Bonus shall be withheld from the Bonus otherwise payable for the Plan Year to which the Deferred Compensation 

  

			
		  	6

 
Agreement relates. Elections to defer Salary and Bonus are irrevocable, except as otherwise provided in this Plan. 
 Deferred Compensation Agreements Transferred From the First Data SISP. The Company shall continue to apply all Deferred Compensation Agreements entered into with
Business Employees prior to the Spin-Off Date as provided in this paragraph. With respect to Business Employees who continue to be eligible to contribute to the Plan, Deferred Compensation Agreements shall be continued as if the Deferred
Compensation Agreements had been made under this Plan and will be continued as provided in Section 3.3. With respect to Business Employees who are no longer eligible to contribute to the Plan following the Spin-Off Date, Deferred Compensation
Agreements for Salary deferrals shall remain in effect for Salary paid by December 31, 2006, and Deferred Compensation Agreements for Bonus deferrals shall remain in effect until the Bonuses are paid with respect to all Bonuses for which the
service period has commenced as of the Spin-Off Date. 
 3.3 Execution of Deferred Compensation Agreement. 
  

	 	(a)	Newly Eligible Employees. An eligible Employee who has not previously been eligible to participate in the Plan (or any other plan considered an “account balance
plan” under Code § 409A) and who wishes to participate in the Plan must execute a Deferred Compensation Agreement within 30 days after he or she became eligible to participate in the Plan. The Deferred Compensation Agreement shall be
effective with respect to services performed subsequent to the execution of the Deferred Compensation Agreement, including services in subsequent Plan Years (unless changed in accordance with the Plan). The Employee may change his or her initial
Deferred Compensation Agreement election at any time through the date that is 30 days after he or she became eligible to participate in the Plan. The Deferred Compensation Agreement shall become irrevocable with respect to the current Plan Year
after the 30 day period, except as otherwise provided in the Plan. The Employee may change his or her Deferred Compensation Agreement election with respect to services to be performed in any subsequent Plan Year under the provisions in
Section 3.3(b). 

 In the Employee’s first year of participation, if the Bonus for which the election is made is
an annual bonus or is otherwise based on a specified performance period, then the Employee’s Deferred Compensation Agreement election with respect to Bonus will apply only to the portion of Bonus equal to the total amount of Bonus multiplied by
the ratio of the number of days remaining in the performance period after the date of the Deferred Compensation Agreement over the total number of days in the performance period. 
  

			
		  	7

	 	(b)	Previously Eligible Employees. An eligible Employee who has previously been eligible to participate in the Plan (or any other plan considered an “account balance
plan” under Code § 409A) and who wishes to change his or her deferral election or make an initial deferral election after the period provided in Section 3.3(a) must enter into a Deferred Compensation Agreement with respect to
services performed during a Plan Year at any time prior to the beginning of the Plan Year. The new Deferred Compensation Agreement election shall be effective for the Plan Year and all subsequent Plan Years, except that the Employee may change his
or her Deferred Compensation Agreement deferral election at any time through the December 31 prior to the beginning of the Plan Year. After the December 31 prior to the beginning of the Plan Year, the Deferred Compensation Agreement
deferral election shall become irrevocable with respect to that Plan Year, except as otherwise provided in the Plan. The Committee may, in its sole discretion, establish earlier deadlines or annual enrollment periods for such election changes during
which such elections must be made. 

  

	 	(c)	Cancellation of Deferral Election for 401(k) Plan Hardship Distribution. Notwithstanding a Participant’s deferral election in his or her Deferred Compensation Agreement,
a Participant’s deferral election shall be cancelled if required under the 401(k) plan sponsored by the Company or an Affiliate which is the Participant’s Employer due to the Participant’s hardship distribution from the 401(k) plan,
pursuant to the requirements of Code § 1.401(k)-1(d)(3). After the cancellation required under the 401(k) plan has expired, the Participant may execute a new Deferred Compensation Agreement under this Plan, in accordance with the timing
requirements for previously eligible employees, under Section 3.3(b). 

 3.4 Company Matching Contributions.
For any Plan Year in which a Participant is contributing the maximum amount to the ISP and is contributing to the Plan, the Participant’s Western Union Matching Account shall be credited with amounts that would have been contributed by the
Company and credited to the Participant’s ISP accounts as employer matching contributions in accordance with the terms of the ISP if the limitations of Code §§ 402(g) and 401(a)(17) did not apply and the contributions being
matched included both the Participant’s deferral contributions (other than catch-up contributions) to the ISP and the Participant’s contributions to the Plan. Employer matching contributions shall be credited to the Participant’s
Western Union Matching Account as of the date employer matching contributions would have been credited to the Participant’s accounts under the ISP if the limitations of Code §§ 402(g) and 401(a)(17) did not apply. 
 3.5 Company Discretionary Contributions. For any Plan Year, the Company may, in its discretion, credit a Participant’s Account in an
amount determined in the sole discretion of the Committee at any time and without regard to any amount credited to the Account of any other Participant. 
  

			
		  	8

 ARTICLE IV 
 DEEMED INVESTMENT OF ACCOUNTS 
 4.1 Committee’s Selection of Investment Funds.
Effective before the Spin-Off Date, the Committee shall identify one or more Investment Funds based upon which imputed gains or losses shall be credited to Participants’ Deferred Accounts. The Committee may add or eliminate Investment Funds
from time to time in its sole discretion. No identification by the Committee of an Investment Fund shall give, or be deemed for any purpose to give, a Participant an interest in any asset or investment held by the Company for any purpose. Effective
before the Spin-Off Date, the Committee in its sole discretion shall determine the interest or earnings rates to be applied with respect to an Investment Fund. Effective after the Spin-Off Date and prior to January 1, 2007, Participants may
choose to have gains or losses determined under (a) the available Investment Fund and applicable earnings rate offered under the First Data SISP as of the Spin-Off Date or (b) the investment options available to participants under the
Incentive Savings Plan, excluding any brokerage account option or any employer stock fund. Effective on and after January 1, 2007, the available Investment Funds shall be the same investment options available to participants under the Incentive
Savings Plan, excluding any brokerage account option or any employer stock fund. 
 4.2 Participant Identification of Investment
Funds. Participants shall select one or more Investment Funds with respect to which imputed gains or losses shall be attributed (credited or debited) to the Participant’s Account. Participants who are active employees may change the
allocation of future deferrals to or from any Investment Fund on any business day, with any change effective as soon as administratively practicable. Effective on and after the Spin-Off Date, all Participants may, upon notice to the Plan’s
recordkeeper, shift the allocation of all or any portion of their Deferred Account balance among any of the Investment Funds, on any business day. Changes received by the Plan’s recordkeeper prior to the close of trading on the New York Stock
Exchange will be effective as of that day. Changes received by the recordkeeper after such time on any day will be effective as of the end of the next trading day on the New York Stock Exchange. Effective January 1, 2007, if a Participant does
not choose an Investment Fund, the Participant’s Account shall be invested in the Target Retirement fund based on the Participant’s age as of the default investment election date. 
 4.3 Daily Valuation. The Committee shall maintain a record of each Participant’s Account. Each Participant’s Account shall be
adjusted on a daily basis to reflect the deemed gains or losses of the Investment Funds selected by the Participant. 
 4.4 Initial
Investment Fund for Accounts. A Participant’s Account in this Plan which was spun off from the First Data SISP shall be deemed invested in the same Investment Fund in which the Participant’s Account was deemed invested under the
First Data SISP. 
  

			
		  	9

 ARTICLE V 
 VESTING 
 5.1 Vesting in Deferral Account, First Data ISP Plus Contributions Account, and First
Data Service-Related Contributions Account. Each Participant shall be 100% vested in the Participant’s Deferral Account, First Data ISP Plus Contributions Account, and First Data Service-Related Contributions Account at all times.

 5.2 Vesting in Western Union Matching Account. Each Participant shall be vested in the Participant’s Western Union
Matching Account in accordance with the following vesting schedule: 
  

			
	 Years of Service
	  	Vesting Percentage
	 Less than 1
	  	    0%
	 1
	  	  25%
	 2
	  	  50%
	 3
	  	  75%
	 4 or more
	  	100%

 5.3 Vesting in First Data Matching Account and First Data eOne Global Employer Basic
Contributions Account. The vested portion in each Participant’s First Data Matching Account and First Data eOne Global Employer Basic Contributions Account at time of the determination will be equal to an amount (“X”)
determined by the formula: 
 X = P (AB + (R x D)) - (R x D) 
 For purposes of applying the formula: 
  

	 	•	 	P is the Participant’s current (as of the date the vested portion is being determined) vesting percentage determined in accordance with the vesting schedule.

  

	 	•	 	AB is the Participant’s current (as of the date the vested portion is being determined) First Data Matching Account balance (or First Data eOne Global Employer Basic
Contributions Account, as applicable). 

  

	 	•	 	D is the grandfathered (vested) portion of the First Data Matching Account balance (or First Data eOne Global Employer Basic Contributions Account, as applicable) as of
December 31, 2004 which was spun off to The Western Union Company Grandfathered Supplemental Incentive Savings Plan. 

  

	 	•	 	R is the current (as of the date the vested portion is being determined) First Data Matching Account balance (or First Data eOne Global Employer Basic Contributions Account balance,
as applicable), divided by the December 31, 2004 First Data Matching Account balance (or First Data eOne Global Employer Basic Contributions Account balance, as applicable) in this Plan. 

  

			
		  	10

 The following vesting schedule applies for purposes of this Section 5.3, based on the
Participant’s Years of Service at the time of the determination: 
  

			
	 Years of Service
	  	Vesting
Percentage
	 Less than 1
	  	    0%
	 1
	  	  25%
	 2
	  	  50%
	 3
	  	  75%
	 4 or more
	  	100%

 5.4 100% Vesting Events. Each Participant shall be 100% vested in the
Participant’s entire Account to the extent not already vested upon the Participant’s death, the Participant’s Disability, the Participant’s attainment of age 65, or the termination of the Plan. 
 5.5 Service with a Competitor or Violation of Agreement. If a Participant provides services for remuneration to a Competitor following his
or her Separation from Service, or if a Participant has violated any restrictive covenants agreement or any non-solicitation or non-compete agreement the Participant has signed with the Company, the Participant shall forfeit the Participant’s
entire Account under the Plan, other than the Participant’s Deferral Account, regardless of whether the Participant was vested in the amounts being forfeited. The Committee shall determine whether a Participant provides services to a Competitor
or whether a Participant has violated any agreement in its sole discretion. 
 ARTICLE VI 
 DISTRIBUTIONS 
 6.1 Distributions
in General. Payment of the Participant’s Account shall commence as soon as administratively practicable following the earliest of the following dates: 
  

	 	(a)	Specified Payment Date. The date the Participant specifies in a Distribution Election that has not been postponed pursuant to Section 6.3, with respect to the portion of
the Account subject to the Distribution Election. Each Participant may specify up to 5 different dates on which lump sum payments will be made to the Participant. Payments based on specific dates shall be made in a lump sum payment as soon as
administratively practicable following the latest of: (1) the specified date, (2) December 31 following the payment date, or (3) the 15th day of the 3rd month following the payment date. The payment date
may be any calendar date that is more than three years following the end of the Plan Year to which the Deferred Compensation Agreement relates. 

  

	 	(b)	 Separation from Service. The date the Participant has a Separation from Service, or a specified time period following the Participant’s Separation from
Service, to the extent the Participant has elected all or any portion of the Participant’s Account to be distributed as a result of the Participant’s 

  

			
		  	11

	 	 
Separation from Service. Distribution as a result of Separation from Service shall be made in accordance with the Participant’s election.

  

	 	(i)	Form of Distribution. A Participant may elect distribution in the form of a lump sum payment or quarterly or annual installments over a period of up to 10 years. Each
installment shall be determined by dividing the Participant’s Account balance by the number of remaining installments. Notwithstanding a Participant’s Distribution Election, if, upon a Participant’s Separation from Service, the
Participant’s Account is less than $50,000 on the date distribution is to commence, the recipient shall receive a lump sum payment of the Participant’s Account no later than the December 31 following the Participant’s Separation
from Service or the 15th day of the 3rd month following the Participant’s Separation from Service, if later. 

  

	 	(ii)	Time of Commencement. A Participant may also elect the time period for when the lump sum payment is made or when installments commence following the Participant’s
Separation from Service. A Participant may elect immediate commencement or a time period following Separation from Service that is prior to the 5th anniversary of the Participant’s Separation from Service. If the Participant is a Specified Employee on the date payment will commence as a result of Separation from Service, any amounts
otherwise payable prior to the 6th month anniversary of the Participant’s Separation from Service shall be
delayed until the day following the 6th month anniversary of the Participant’s Separation from Service.

  

	 	(c)	Disability. The date the Participant becomes Disabled. The Participant’s entire Account balance shall be distributed in a lump sum payment as soon as administratively
practicable following the determination that the Participant is Disabled. 

  

	 	(d)	Death. The date of the Participant’s death. The Participant’s entire Account balance shall be distributed in a lump sum payment as soon as administratively
practicable following the Participant’s date of death. 

 6.2 Distribution Elections for Timing and Form of
Payment. A Participant may make a Distribution Election with respect to amounts deferred under the Participant’s Deferred Compensation Agreement when the Participant executes his or her Deferred Compensation Agreement. 
 Default Distribution Election. If a Participant fails to make a Distribution Election with respect to all or any portion of the Participant’s Account, the
Participant shall be deemed to have elected to receive a lump sum distribution upon the Participant’s Separation from Service with respect to the portion of the Participant’s Account for which no Distribution 

  

			
		  	12

 
Election has been made. The deemed election will be effective as of the date the initial Deferred Compensation Agreement is effective, and as of that date,
cannot be changed except as provided in the Plan with respect to changing Distribution Elections. 
 Distribution Elections for Accounts From the First
Data SISP. A Participant who was formerly a participant in the First Data SISP and whose balance under the First Data SISP was spun off from the First Data SISP to this Plan shall be deemed to have the same Distribution Election as previously
filed with respect to the First Data SISP, unless the Participant changes the election in accordance with the procedures in this Plan. 
 6.3
Changing Distribution Election. 
  

	 	(a)	Requirements. A Participant may change his or her Distribution Election as to timing and/or form of payment if: 

  

	 	(i)	the Participant executes a new Distribution Election at least 12 months prior to the earliest date payment would have commenced under the prior Distribution Election;

  

	 	(ii)	any payments under the new Distribution Election will not commence earlier than 5 years from the earliest date payment would have otherwise been made under the prior specified
payments; and 

  

	 	(iii)	the new Distribution Election will not take effect until 12 months after the date it was executed by the Participant. 

  

	 	(b)	Changing Distribution Election for Pre-2007 Account Balance. Notwithstanding the requirements in this Section 6.3 that would otherwise apply, a Participant may change
his or her Distribution Election with respect to the First Data SISP Account spun off from the First Data SISP to the Plan and all amounts credited to the Account for period beginning January 1, 2005 and ending December 31, 2006, provided
that the Participant makes a new Distribution Election no later than December 31, 2006. Any such election (i) will apply only to amounts that would not otherwise be payable in 2006, and (ii) will not apply to the extent that the
election change would cause an amount to be paid in 2006 that would not otherwise be payable in 2006. 

 6.4 Designation
of Beneficiary. A Participant may designate one or more Designated Beneficiaries (who may be designated contingently or successively) by filing a written notice of designation with the Committee in such form as the Committee may prescribe.
Each designation will automatically revoke any prior designations by the same Participant. Any beneficiary designation will be effective as of the date on which the written designation is received by the Committee during the lifetime of the
Participant. 
  

			
		  	13

 6.5 Severe Financial Hardship. In the event of a Severe Financial Hardship of a
Participant, the Participant may request distribution of some or all of the Participant’s Account. The Committee shall require such evidence as is reasonably necessary to determine if a distribution is warranted and satisfies the requirements
of a Severe Financial Hardship pursuant to Code § 409A. The Committee shall determine the amount available to the Participant in accordance with published guidance under Code § 409A. 
 6.6 Payments on Account of Failure to Comply with Code § 409A. If any portion of the Participant’s Account that has not yet
been distributed must be included in the Participant’s taxable income for a calendar year pursuant to Code § 409A, the Committee shall distribute the portion of the Account that has been included in the Participant’s taxable
income as soon as administratively practicable. 
 ARTICLE VII 
 DEFERRED COMPENSATION AND BENEFITS TRUST 
 Upon the occurrence of any Potential
Change in Control, the Company may in its discretion transfer to the DCB Trust an amount of cash, marketable securities, or other property acceptable to the trustee equal in value of up to 105% of the amount necessary to pay the Company’s
obligations with respect to Accounts under this Plan (the “Funding Amount”). Any cash, marketable securities, and other property so transferred shall be held, managed, and disbursed by the trustee subject to and in accordance with the
terms of the DCB Trust. In addition, from time to time, the Company may make any and all additional transfers of cash, marketable securities, or other property acceptable to the trustee as may be necessary in order to maintain the Funding Amount
with respect to this Plan. Any amounts transferred to the DCB Trust under this paragraph shall, at any time prior to the consummation of a Potential Change in Control, be returned to the Company by the Trustee at the Company’s request. The
Company and any successor shall continue to be liable for the ultimate payment of Participants’ Accounts. 
 Notwithstanding the
immediately preceding paragraph, the Company will not transfer any cash, securities, or other property to the DCB Trust at a time when such a transfer would cause adverse tax consequences under Code § 409A, as amended by the Pension
Protection Act of 2006. 
 ARTICLE VIII 
 AMENDMENT, MODIFICATION AND TERMINATION 
 8.1 Amendment and Termination. The Committee
may, at its sole discretion, amend or terminate the Plan at any time, provided that the amendment or termination shall not adversely affect the vested or accrued rights or benefits of any Participant without the Participant’s prior consent.

 8.2 Further Actions to Conform to Code Section 409A. This Plan is intended to satisfy the requirements of Code
§ 409A (including current and future guidance issued by 

  

			
		  	14

 
the Department of Treasury or the Internal Revenue Service). To the extent that any provision of this Plan fails to satisfy those requirements, the provision
shall be applied in operation in a manner that, in the good-faith opinion of the Committee, brings the provision into compliance with those requirements while preserving as closely as possible the original intent of the Plan provision. The Committee
shall amend the Plan as necessary to comply with the requirements of Code § 409A. 
 ARTICLE IX 
 ADMINISTRATION AND INTERPRETATION 
 The
Committee shall have final discretion, responsibility, and authority to administer and interpret the Plan. This includes the discretion and authority to determine all questions of fact, eligibility, or benefits relating to the Plan. The Committee
may also adopt any rules it deems necessary to administer the Plan. The Committee’s responsibilities for administration and interpretation of the Plan shall be exercised by Company employees who have been assigned those responsibilities by the
Company’s management. Any Company employee exercising responsibilities relating to the Plan in accordance with this Article shall be deemed to have been delegated the discretionary authority vested in the Committee with respect to those
responsibilities, unless limited in writing by the Committee. Any Participant may appeal any action or decision of these employees to the Committee. Claims for benefits under the Plan and appeals of claim denials shall be in accordance with Articles
XI and XII. Any interpretation by the Committee shall be final and binding on the Participants. 
 ARTICLE X 
 MISCELLANEOUS 
 10.1
Non-assignability. Neither a Participant nor a Designated Beneficiary may voluntarily or involuntarily anticipate, assign, or alienate (either at law or in equity) any benefit under the Plan, and the Committee shall not recognize any
such anticipation, assignment, or alienation. Furthermore, a benefit under the Plan shall not be subject to attachment, garnishment, levy, execution, or other legal or equitable process. Any attempted sale, conveyance, transfer, assignment, pledge
or encumbrance of the rights, interests, or benefits provided pursuant to the terms of the Plan or the levy of any attachment or similar process thereupon, shall be null and void and without effect. 
 10.2 Taxes. The Company shall deduct from all payments made under this Plan all applicable federal or state taxes required by law to be
withheld. 
 10.3 Governing Law. To the extent not preempted by federal law, the Plan shall be construed in accordance with,
and shall be governed by, the laws of the state of Colorado. 
 10.4 Form of Communication. Any election, application, claim,
notice, or other communication required or permitted to be made by a Participant to the Committee shall be made in such form as the Committee may prescribe, and shall not be effective until the 

  

			
		  	15

 
date specified in the Plan or by the Committee for such communication. If no form or date is specified, such communication shall be effective upon receipt of
the communication in writing by the Company’s Senior Vice President, Compensation and Benefits at 12500 East Belford Avenue, Englewood, CO 80112. 
 10.5 Service Providers. The Company may, in its sole discretion, retain one or more independent entities to provide services to the Company in connection with the operation and administration of the
Plan. Except as may be specifically delegated or assigned to any such entity in writing, the Company shall retain all discretionary authority under this Plan. No Participant or other person shall be a third party beneficiary with respect to, or have
any rights or recourse under, any contractual arrangement between the Company and any such service provider. 
 10.6 Unsecured General
Creditor. Participants and their beneficiaries, heirs, successors, and assigns shall have no legal or equitable rights, interest, or claims in any property or assets of the Company. The assets of the Company shall not be held under any trust
for the benefit of Participants, their beneficiaries, heirs, successors, or assigns, or held in any way as collateral security for the fulfilling of the obligations of the Company under this Plan. Any and all Company assets shall be, and remain, the
general, unpledged, unrestricted assets of the Company. The Company’s obligation under the Plan shall be an unfunded and unsecured promise of the Company to pay money in the future. 
 10.7 Gender and Number. Except when otherwise indicated by the context, the masculine gender shall also include the feminine gender and
vice versa, and the definition of any term herein the singular shall also include the plural and vice versa. 
 10.8 No Right to
Continued Employment. Nothing contained in the Plan shall confer upon any Participant any right with respect to the continuation of the Participant’s employment by, or consulting relationship with, the Company, or interfere in any way
with the right of the Company, subject to the terms of any separate employment agreement or other contract to the contrary, at any time to terminate such services or to increase or decrease the compensation of the Participant. Nothing in this Plan
shall limit or impair the Company’s right to terminate the employment of any employee. Participation in this Plan is a matter entirely separate from any pension right or entitlement the Participant may have and from the terms or conditions of
the Participant’s employment. Any Participant who leaves the employment of the Company shall not be entitled to any compensation for any loss of any right or any benefit or prospective right or benefit under this Plan which the Participant
might otherwise have enjoyed whether such compensation is claimed by way of damages for wrongful dismissal or other breach of contract by of compensation for loss or otherwise. 
 10.9 Participation in Other Plans. Nothing in this Plan shall affect any right which the Participant may otherwise have to participate in
any retirement plan or agreement which the Company or an Affiliate has or may adopt. 
  

			
		  	16

 10.10 Entire Understanding. This instrument contains the entire understanding between the
Company and the Participants participating in the Plan relating to the Plan, and supersedes any prior agreement between the parties, whether written or oral. Neither this Plan nor any provision of the Plan may be waived, modified, amended, changed,
discharged or terminated except as provided in the Plan. 
 10.11 Provisions Severable. To the extent that any one or more of
the provisions of the Plan shall be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired. 
 10.12 Headings. The article and section headings are for convenience only and shall not be used in interpreting or construing the Plan.

 10.13 Successors, Mergers, or Consolidations. Any agreement under the Plan shall inure to the benefit of and be binding upon
(a) the Company and its successors and assigns and upon any corporation into which the Company may be merged or consolidated, and (b) the Participant and his or her heirs, executors, administrators, and legal representatives. 

ARTICLE XI 
 CLAIMS PROCEDURE

 Claims for benefits under the Plan shall be filed in writing, within 60 days after the event giving rise to a claim, with the
Company’s Senior Vice President, Compensation and Benefits (the “Plan Administrator”), who shall have absolute discretion to determine whether benefits are payable under the Plan, interpret and apply the Plan, evaluate the facts and
circumstances, and make a determination with respect to the claim in the name and on behalf of the Committee. The claim shall include a statement of all relevant facts and copies of all documents, materials, or other evidence that the claimant
believes relevant to the claim. 
 The Plan Administrator shall furnish a notice to any claimant whose claim for benefits under the Plan has
been denied within 90 days from receipt of the claim. This 90-day period may be extended if special circumstances require an extension, provided that the time period cannot exceed a total of 180 days from the Plan’s receipt of the
claimant’s claim and the written notice of the extension is provided before the expiration date of the initial 90-day claim period. If an extension is required, the Plan Administrator shall provide a written notice of the extension that
contains the expiration date of the initial 90-day claim period, the special circumstances that require an extension, and the date by which the Plan Administrator expects to render its benefits determination. 
 The Plan Administrator’s claim denial notice shall set forth: 
  

	 	(b)	the specific reason or reasons for the denial; 

  

			
		  	17

	 	(c)	specific references to pertinent Plan provisions on which the denial is based; 

  

	 	(d)	a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why the material or information is necessary; and

  

	 	(e)	an explanation of the Plan’s claims review procedure describing the steps to be taken by a claimant who wishes to submit his or her claim for review, including any applicable
time limits, and a statement of the Participant’s or beneficiary’s right to bring a civil action under ERISA § 502(a) if the claim is denied on review. 

 A claimant who wishes to appeal the adverse determination must request a review in writing to the Plan Administrator within 60 days after the appealing
claimant received the denial of benefits. 
 ARTICLE XII 
 CLAIMS REVIEW PROCEDURE 
 Any Participant, former Participant, or Designated Beneficiary of either,
who has been denied a benefit claim, shall be entitled, upon written request, to a review of the denied claim by the Committee. A claimant appealing a denial of benefits (or the authorized representative of the claimant) shall be entitled to:

  

	 	(f)	submit in writing any comments, documents, records and other information relating to the claim and request a review; 

  

	 	(g)	review pertinent Plan documents; and 

  

	 	(h)	upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claim. A document, record, or other information
shall be considered relevant to the claim if such document, record, or other information (i) was relied upon in making the benefit determination, (ii) was submitted, considered, or generated in the course of making the benefit
determination, without regard to whether such document, record, or other information was relied upon in making the benefit determination, or (iii) demonstrates compliance with the administrative processes and safeguards designed to ensure and
verify that benefit claim determinations are made in accordance with the Plan and that, where appropriate, the Plan provisions have been applied consistently with respect to similarly situated Participants or Designated Beneficiaries.

 The Committee shall reexamine all facts related to the appeal and make a final determination as to whether the denial of
benefits is justified under the circumstances. 
  

			
		  	18

 Decision on Review. The decision on review of a denied claim shall be made in the following
manner: 
  

	 	(a)	The decision on review shall be made by the Committee, who may in its discretion hold a hearing on the denied claim. The Committee shall make its decision solely on the basis of the
written record, including documents and written materials submitted by the Participant or Designated Beneficiary (or the authorized representative of the Participant or Designated Beneficiary). The Committee shall make its decision promptly, which
shall ordinarily be not later than 60 days after the Plan’s receipt of the request for review, unless special circumstances (such as the need to hold a hearing) require an extension of time for processing. In that case a decision shall be
rendered as soon as possible, but not later than 120 days after receipt of the request for review. If an extension of time is required due to special circumstances, the Committee will provide written notice of the extension to the Participant or
Designated Beneficiary prior to the time the extension commences, stating the special circumstances requiring the extension and the date by which a final decision is expected. 

  

	 	(b)	The decision on review shall be in writing, written in a manner calculated to be understood by the Participant or Designated Beneficiary. If the claim is denied, the written notice
shall include specific reasons for the decision, specific references to the pertinent Plan provisions on which the decision is based, a statement of the Participant’s or Designated Beneficiary’s right to bring an action under ERISA §
502(a), and a statement that the Participant or Designated Beneficiary is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claimant’s claim
for benefits. A document, record, or other information shall be considered relevant to the claim if such document, record, or other information (i) was relied upon in making the benefit determination, (ii) was submitted, considered, or
generated in the course of making the benefit determination, without regard to whether such document, record, or other information was relied upon in making the benefit determination, or (iii) demonstrates compliance with the administrative
processes and safeguards designed to ensure and verify that benefit claim determinations are made in accordance with the Plan and that, where appropriate, the Plan provisions have been applied consistently with respect to similarly situated
claimants. 

  

	 	(c)	The Committee’s decision on review shall be final. In the event the decision on review is not provided to the Participant or Designated Beneficiary within the time required,
the claim shall be deemed denied on review. 

  

			
		  	19

 ARTICLE XIII 
 LAWSUITS, JURISDICTION, AND VENUE 
 No lawsuit claiming entitlement to benefits under this Plan may
be filed prior to exhausting the claims and claims review procedures described in Articles IX and X. Any such lawsuit must be initiated no later than (a) one year after the event(s) giving rise to the claim occurred, or (b) 60 days after a
final written decision was provided to the claimant under Article X, whichever is sooner. Any legal action involving benefits claimed or legal obligations relating to or arising under this Plan may be filed only in Federal District Court in the city
of Denver, Colorado. Federal law shall be applied in the interpretation and application of this Plan and the resolution of any legal action. To the extent not preempted by federal law, the laws of the state of Colorado shall apply. 
 ARTICLE XIV 
 EFFECTIVE DATE OF PLAN

 Effective as of the Spin-Off Date, the Plan is being spun off from the First Data SISP. 
 The Company hereby agrees to the provisions of the Plan and in witness of its agreement, the Company by its duly authorized officer has executed the Plan
on the date written below. 
  

			
	THE WESTERN UNION COMPANY
		
	 By:
	 	  
		
	 Title:
	 	  
		
	 Date:
	 	  

  

			
		  	20

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