Discover Financial Services (DFS) Announces Resignation of Chief Legal Officer

Discover Financial Services (NYSE: DFS) has filed the following:\

On August 30, 2024, Discover Financial Services (the “Company”) was notified by Hope D. Mehlman, the Company’s Executive Vice President, Chief Legal Officer, General Counsel and Corporate Secretary, of her intent to resign from the Company to accept a position with another company. In connection with her resignation, the Company and Ms. Mehlman entered into a letter agreement, pursuant to which Ms. Mehlman will continue to serve as the Company’s Executive Vice President, Chief Legal Officer, General Counsel and Corporate Secretary through the earlier of closing of the Company’s merger with Capital One Financial Corporation (the “Merger”) or November 29, 2024 (in either case, the “Effective Date”). Pursuant to the letter agreement, the Company waived Ms. Mehlman’s obligation to repay her sign-on bonuses (which by their terms generally required Ms. Mehlman to remain employed through January 9, 2025), with a portion of such waiver subject to Ms. Mehlman not resigning or being terminated for cause prior to the Effective Date. In addition, the Company will pay to Ms. Mehlman a lump sum cash amount of $850,000 or $1,000,000, subject to Ms. Mehlman not resigning or being terminated for cause prior to the Effective Date and other conditions.

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