It looks like RewardLevel is set up as a broker. They get publishers to install widgets on the sign up forms, that data is then passed to advertisers (the reward offerer) and RewardLevel makes a commission on the conversions at the advertisers end. I would also guess that while the advertiser may be giving out a reward to each sign up on the publisher site (discount, voucher, coupon, gift etc) they may not be paying $5 to RewardLevel each time. There's probably separate language that defines what a conversion is for the advertiser such as a signup or enrollment in service with the company providing the incentive in addition to the initial sign up on the publishers landing page. We'll have to see if Noah speaks to how advertisers sign up as it's been asked a couple of times.