Amendment No. 8 to Discover Financial Services Directors Compensation Plan (Effective January 1, 2019)

Contract Categories: Human Resources › Compensation Agreements
Summary

This amendment updates the compensation plan for directors of Discover Financial Services, effective January 1, 2019. It revises the annual retainer and committee chair fees for eligible directors, specifying that the Independent Chair receives $210,000 annually, while the chairs of the Audit, Compensation and Leadership Development, Nominating and Governance, and Risk Oversight Committees receive annual fees of $30,000, $25,000, $20,000, and $30,000, respectively. The amendment clarifies compensation amounts for these leadership roles within the board.

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EX-10.63 3 dfsex106312312018.htm AMENDMENT NO. 8 TO THE DIRECTORS' COMPENSATION PLAN OF DISCOVER FINANCIAL SERVIC Exhibit


Exhibit 10.63

Amendment No. 8 to the Discover Financial Services
Directors’ Compensation Plan
Effective January 1, 2019, the Discover Financial Services Directors’ Compensation Plan (the “Plan”), is hereby amended in the following respects:

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The Plan is amended by replacing the text of Subsection 7(b) Lead Director and Chairpersons. in Section 7 Retainer and Other Fees in its entirety with the following:

(b)    Independent Chair and Committee Chairpersons. In addition to the Annual Retainer provided for in Section 7(a), each Eligible Director who is the (i) Independent Chair shall be entitled to an annual retainer of $210,000; (ii) the Audit Committee Chair shall be entitled to an annual Committee Chair fee of $30,000; (iii) the Compensation and Leadership Development Committee Chair shall be entitled to an annual Committee Chair fee of $25,000; (iv) the Nominating and Governance Committee Chair shall be entitled to an annual Committee Chair fee of $20,000; and (v) the Risk Oversight Committee Chair shall be entitled to an annual Committee Chair fee of $30,000.