Amendment No. 10 to Discover Financial Services Directors’ Compensation Plan

Contract Categories: Human Resources › Compensation Agreements
Summary

This amendment updates the Discover Financial Services Directors’ Compensation Plan to grant a one-time $20,000 fee to each director who served on a Special Committee formed on June 16, 2022. The amendment is effective as of December 14, 2022, and supplements existing retainer and fee provisions for eligible directors. The main parties involved are Discover Financial Services and its eligible directors.

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EX-10.59 3 a4q22dfsex105912312022.htm EX-10.59 Document

Exhibit 10.59
Amendment No. 10 to the Discover Financial Services
Directors’ Compensation Plan
Effective as of December 14, 2022, the Discover Financial Services Directors’ Compensation Plan (the “Plan”), is hereby amended in the following respects:
•Adding the following subsection (e) to the text of Section 7 Retainer and Other Fees:
(e)    Special Committee. In addition to the Annual Retainer and fees provided for in Sections 7(a)-(c) above, each Eligible Director who is a Member of the Special Committee formed on June 16, 2022 shall be entitled to a one-time committee member fee of $20,000.