DESCRIPTION OF COMPENSATION OF DIRECTORS

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EX-10.33 4 a13-24727_1ex10d33.htm EX-10.33

Exhibit 10.33

 

DESCRIPTION OF COMPENSATION OF DIRECTORS

 

First Data Corporation (the “Company”) directors do not receive compensation. However, all of the directors of the Company are also directors of the Company’s parent company, First Data Holdings Inc. (“Holdings”). The Governance, Compensation and Nominations Committee (the “Committee”) of the Board of Directors of Holdings has approved compensation for each non-employee directors of Holdings of $40,000 per year payable in semi-annual installments. Such directors may make an election to defer compensation earned in each calendar year under the First Data Holdings Inc. 2008 Non-Employee Director Deferred Compensation Plan. All amounts deferred will accrue earnings based on the performance of Holdings common stock and be paid to the director upon termination of the director’s service, subject to acceleration of the payout under certain circumstances.