$360,000.00 Uses in Term Clause

Term from Separation Agreement and Release of All Claims

This Confidential Separation Agreement and Release of All Claims (Agreement) is entered into this 7th day of April, 2008, by and between William J. Putney (Mr. Putney), on the one hand, and MoneyGram Payment Systems, Inc. (MoneyGram) and Long Lake Partners, LLC (LLP), including all of their respective parent organizations, holding companies, predecessors, insurers, contractors, divisions, affiliates, related companies and joint ventures, business units, subsidiaries, and successors, its current or former officers, directors, employees, contractors, agents, heirs, legal counsel, suppliers, assigns, personal representatives, agents and partners (collectively referred to as Company).

Term. This Agreement shall commence on April 9, 2008 and, unless earlier terminated as described in Section 6 below, shall continue for twelve (12) months until April 8, 2009 (the Term).