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DISCOVER FINANCIAL SERVICES FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) On October 14, 2014, Walter H. Morris, Jr. notified the Board of Directors of Discover Financial Services (the "Company") of his resignation as a director of the Company, effective October 17, 2014, due to personal reasons and not as a result of any disagreement with the Company. (e) On October 15, 2014, the Compensation and Leadership Development Committee of the Board of Directors of the Company amended and restated the Discover Financial Services Change in Control Severance Policy to eliminate tax-gross up benefits, to change the definition of "Good Reason" to include a material reduction in base salary and target incentives without a substantially similar earnings opportunity in another comparable form, and to make other clarifications as provided therein. The policy is attached hereto as Exhibit 10.1 and is incorporated herein by reference. Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Discover Financial Services Change in Control Severance Policy Amended and Restated October 15, 2014 -------------------------------------------------------------------------------- |