Document:

EX-10.6

 Exhibit 10.6 
 MINDSPEED TECHNOLOGIES, INC. 
 2013 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AWARD AGREEMENT 
 FOR NON-U.S. SERVICE PROVIDERS 
 Unless otherwise defined herein, the terms
defined in the Mindspeed Technologies, Inc. 2013 Equity Incentive Plan (the “Plan”) will have the same defined meanings in this Notice of Restricted Stock Unit Grant (the “Notice of Grant”) for Non-U.S. Service Providers, the
Terms and Conditions of Restricted Stock Unit Grant for Non-U.S. Service Providers, attached hereto as Exhibit A, and the Appendix to the Restricted Stock Unit Award Agreement for Non-U.S. Service Providers, attached hereto as Exhibit
B (together, this “Award Agreement”). 
 NOTICE OF RESTRICTED STOCK UNIT GRANT 

 

					
	Participant:	 	  
	 	
			
	Award:	 		 	

 Participant has been granted the right to receive an Award of Restricted Stock Units, subject to the
terms and conditions of the Plan and this Award Agreement, as follows: 
  

					
	Grant Date:	 	  
	 	
			
	Number of Restricted Stock Units:	 	  
	 	

 Vesting Schedule: 
 Subject to accelerated vesting as set forth below or in the Plan, the Restricted Stock Units will vest in accordance with the following schedule: 

[Insert Vesting Description] Notwithstanding the foregoing, if Participant ceases to be a Service Provider due to his or her death or
Disability, one hundred percent (100%) of the Restricted Stock Units will fully vest on the date Participant ceases to be a Service Provider due to his or her death or Disability. 

Acceptance: 
 By accepting this Award Agreement and not notifying the Company that Participant is declining the Award, Participant acknowledges and agrees that the Award is granted under and governed by the terms and
conditions of the Plan and this Award Agreement and further agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and this Award Agreement. 

 EXHIBIT A 

TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT GRANT 
 FOR NON-U.S. SERVICE PROVIDERS 
 1. Grant. The Company hereby grants
to the Participant named in the Notice of Grant (the “Participant”) under the Plan an Award of Restricted Stock Units, subject to all of the terms and conditions in this Award Agreement and the Plan, which is incorporated herein by
reference. Subject to Section 21(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Award Agreement, the terms and conditions of the Plan will prevail. 

2. Company’s Obligation to Pay. Each Restricted Stock Unit represents the right to receive a Share on the date it vests.
Unless and until the Restricted Stock Units will have vested in the manner set forth in Section 3, Participant will have no right to payment of any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such
Restricted Stock Units will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. Any Restricted Stock Units that vest in accordance with Sections 3 or 4 will be paid to Participant (or in
the event of Participant’s death, to his or her estate) in whole Shares, subject to Participant satisfying any applicable tax withholding obligations as set forth in Section 7. Subject to the provisions of Section 4, such vested
Restricted Stock Units shall be paid in whole Shares as soon as practicable after vesting, but in each such case within the period sixty (60) days following the vesting date. In no event will Participant be permitted, directly or indirectly, to
specify the taxable year of the payment of any Restricted Stock Units payable under this Award Agreement. 
 3. Vesting
Schedule. Except as provided in Section 4, and subject to Section 5, the Restricted Stock Units awarded by this Award Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant. Restricted Stock
Units scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in Participant in accordance with any of the provisions of this Award Agreement, unless Participant has been continuously a Service Provider from
the Grant Date until the date such vesting occurs. 
 4. Section 409A. The payment of Shares vesting pursuant to
this Section 4 shall in all cases be paid at a time or in a manner that is exempt from, or complies with, Section 409A of the Code (“Section 409A”). 
 Notwithstanding anything in the Plan or this Award Agreement to the contrary, if the vesting of the balance, or some lesser portion of the balance, of the Restricted Stock Units is accelerated in
connection with Participant’s termination as a Service Provider (provided that such termination is a “separation from service” within the meaning of Section 409A, as determined by the Company), other than due to death, and if:
(a) Participant is a “specified employee” within the meaning of Section 409A at the time of such termination as a Service Provider; and (b) the payment of such accelerated Restricted Stock Units will result in the imposition
of additional tax under Section 409A if paid to Participant on or within the six (6) month period following Participant’s termination as a Service Provider, then the payment of such

  
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accelerated Restricted Stock Units will not be made until the date six (6) months and one (1) day following the date of Participant’s termination as a Service Provider, unless the
Participant dies following his or her termination as a Service Provider, in which case, the Restricted Stock Units will be paid in Shares to the Participant’s estate as soon as practicable following his or her death. It is the intent of this
Award Agreement that it and all payments and benefits hereunder be exempt from, or comply with, the requirements of Section 409A so that none of the Restricted Stock Units provided under this Award Agreement or Shares issuable thereunder will
be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment payable under this Award Agreement is intended to constitute a separate payment for purposes
of Treasury Regulation Section 1.409A-2(b)(2). For purposes of this Award Agreement, “Section 409A” means Section 409A of the Code, and any final Treasury Regulations and Internal Revenue Service guidance thereunder, as each may
be amended from time to time. 
 5. Forfeiture upon Termination of Status as a Service Provider. Notwithstanding any
contrary provision of this Award Agreement and subject to the accelerated vesting provisions set forth in the Notice of Grant, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a
Service Provider for any or no reason and Participant’s right to acquire any Shares hereunder will immediately terminate, as further described in Section 8(j). 
 6. Death of Participant. Subject to the accelerated vesting provisions set forth in the Notice of Grant, any distribution or delivery to be made to Participant under this Award Agreement will, if
Participant is then deceased, be made to the administrator or executor of Participant’s estate or to Participant’s legal heirs, as applicable. Any such transferee must furnish the Company with (a) written notice of his or her status
as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer. 

7. Responsibility for Taxes. Regardless of any action the Company or, if different, Participant’s employer (the
“Employer”) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to participation in the Plan and legally applicable to Participant
(“Tax-Related Items”), Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer. Participant
further acknowledges and agrees that the Company and/or the Employer: (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Restricted Stock Units, including, but not
limited to, the grant, vesting or settlement of the Restricted Stock Units, the issuance of Shares upon settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to such issuance and the receipt of any dividends; and
(b) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Restricted Stock Units to reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result.
Further, if Participant is subject to Tax-Related Items in more than one jurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges that the Company and/or the Employer
(or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 

  
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 Prior to any relevant taxable or tax withholding event, as applicable, Participant will pay
or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy the
obligations with regard to all Tax-Related Items by one or a combination of the following: 
 (i) withholding from
Participant’s wages or other cash compensation paid to Participant by the Company and/or the Employer; or 
 (ii)
withholding from proceeds of the sale of Shares acquired upon vesting/settlement of the Restricted Stock Units either through a voluntary sale or through a mandatory sale arranged by the Company (on Participant’s behalf pursuant to this
authorization); or 
 (iii) withholding in Shares to be issued upon vesting/settlement of the Restricted Stock Units.

 Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable
minimum statutory withholding rates or other applicable withholding rates, including maximum applicable rates, in which case Participant will receive a refund of any over-withheld amount in cash and will have no entitlement to the Share equivalent.
If the obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the vested Restricted Stock Units, notwithstanding that a number of the
Shares are held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of Participant’s participation in the Plan. 
 Finally, Participant shall pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of Participant’s
participation in the Plan that cannot be satisfied by the means described above. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares, if Participant fails to comply with his or her obligations in connection
with the Tax-Related Items. 
 8. Nature of Grant. In accepting the grant, Participant acknowledges, understands and
agrees that: 
 (a) the grant of the Restricted Stock Units is voluntary and occasional and does not create any contractual or
other right to receive future grants of Restricted Stock Units, or benefits in lieu of Restricted Stock Units, even if Restricted Stock Units have been granted in the past; 
 (b) all decisions with respect to future Restricted Stock Unit or other grants, if any, will be at the sole discretion of the Company; 

(c) the Restricted Stock Units and Shares subject to the Restricted Stock Units are an extraordinary item that does not constitute
compensation of any kind for services of any kind rendered to the Company or the Employer, and which is outside the scope of Participant’s employment or service contract, if any; 

  
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 (d) Participant is voluntarily participating in the Plan; 

(e) the Restricted Stock Units and Shares subject to the Restricted Stock Units are not intended to replace any pension rights or
compensation; 
 (f) the Restricted Stock Units and the Shares subject to the Restricted Stock Units, and the income and value
of same, are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards,
pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company, the Employer or any other Subsidiary or affiliate of the Company;

 (g) the future value of the underlying Shares is unknown, indeterminable and cannot be predicted with certainty; 

(h) no claim or entitlement to compensation or damages shall arise from forfeiture of the Restricted Stock Units in accordance with
Section 5 (whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant’s service agreement, if any), and in consideration of the grant of the
Restricted Stock Units to which Participant is otherwise not entitled, Participant irrevocably agrees never to institute any claim against the Company, the Employer or any other Subsidiary or affiliate of the Company, waives Participant’s
ability, if any, to bring any such claim, and releases the Company, the Employer and any Subsidiaries and affiliates of the Company from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent
jurisdiction, then, by participating in the Plan, Participant shall be deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim; 

(i) Participant’s relationship as a Service Provider will be considered terminated as of the date Participant is no longer actively
providing services to the Company, the Employer or one of the other Subsidiaries or affiliates of the Company (regardless of the reason for such termination and whether or not later to be found invalid or in breach of employment laws in the
jurisdiction where Participant is employed or the terms of Participant’s service agreement, if any), and unless otherwise expressly provided in this Award Agreement or determined by the Company, Participant’s right to vest in the
Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant’s relationship as a Service Provider would not include any contractual notice period or any
period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is providing services or the terms of Participant’s service agreement, if any); the Administrator shall have the exclusive
discretion to determine when Participant is no longer actively providing services for purposes of the Restricted Stock Units (including whether Participant may still be considered to be providing services while on a leave of absence); 

  
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 (j) unless otherwise provided in the Plan or by the Company in its discretion, the
Restricted Stock Units and the benefits evidenced by this Award Agreement do not create any entitlement to have the Restricted Stock Units or any such benefits transferred to, or assumed by, another company nor be exchanged, cashed out or
substituted for, in connection with any corporate transaction affecting the shares of the Company; and 
 (k) neither the
Company, the Employer nor any other Subsidiary or affiliate of the Company shall be liable for any foreign exchange rate fluctuation between Participant’s local currency and the United States Dollar that may affect the value of the Restricted
Stock Units or of any amounts due to Participant pursuant to the settlement of the Restricted Stock Units or the subsequent sale of any Shares acquired upon settlement. 
 9. No Advice Regarding Grant. 
 The Company is not providing any tax, legal
or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the Shares. Participant is hereby advised to consult with Participant’s own
personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan. 
 10. Data Privacy. Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of his or her personal data as
described in this Award Agreement and any other Restricted Stock Unit grant materials by and among, as applicable, the Employer and the Company and its other Subsidiaries and affiliates for the exclusive purpose of implementing, administering and
managing Participant’s participation in the Plan. 
 Participant understands that the Company and the
Employer may hold certain personal information about him or her, including, but not limited to, name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any
Shares or directorships held in the Company, details of all Restricted Stock Units or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor (“Data”, for the exclusive
purpose of implementing, administering and managing the Plan). 
 Participant understands that Data will be
transferred to Fidelity Stock Plan Services, LLC, or such other stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan.
Participant understands that the recipients of the Data may be located in the U.S. or elsewhere, and that the recipients’ country (e.g., the U.S.) may have different data privacy laws and protections than Participant’s country. Participant
understands that he or she may request a list with the names and addresses of any potential recipients of the Data by contacting Participant’s local human resources representative. Participant authorizes the Company, Fidelity Stock Plan
Services, LLC and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for
the sole purpose of implementing, administering and managing 

  
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Participant’s participation in the Plan. Participant understands that Data will be held only as long as is necessary to implement, administer and manage Participant’s participation in
the Plan. Participant understands that he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case
without cost, by contacting in writing Participant’s local human resources representative. Further, Participant understands that he or she is providing the consents herein on a purely voluntary basis. If Participant does not consent, or if
Participant later seeks to revoke his or her consent, his or her employment status or service and career with the Employer will not be adversely affected; the only adverse consequence of refusing or withdrawing Participant’s consent is that the
Company would not be able to grant Participant Restricted Stock Units or other equity awards or administer or maintain such awards. Therefore, Participant understands that refusing or withdrawing his or her consent may affect Participant’s
ability to participate in the Plan. For more information on the consequences of Participant’s refusal to consent or withdrawal of consent, Participant understands that Participant may contact his or her local human resources representative.

 11. Appendix. Notwithstanding any provisions in this Award Agreement, the Restricted Stock Unit Award shall be
subject to any special terms and conditions set forth in any Appendix to this Award Agreement for Participant’s country of residence. Moreover, if Participant relocates to one of the countries included in the Appendix, the special terms and
conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Award
Agreement. 
 12. Imposition of Other Requirements. The Company reserves the right to impose other requirements on
Participant’s participation in the Plan, on the Restricted Stock Units and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require Participant
to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 
 13. Rights as
Stockholder. Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until such Shares will have
been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Participant. After such issuance, Participant will have all the rights of a stockholder of the Company with respect to voting such Shares and
receipt of dividends and distributions on such Shares. 
 14. No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES
AND AGREES THAT THE VESTING OF THE RESTRICTED STOCK UNITS PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT
THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS AWARD OF RESTRICTED STOCK UNITS OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE 

  
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TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD,
FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE
PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 
 15. Address for Notices. Any notice to be given to the Company under the
terms of this Award Agreement will be addressed to the Company at Mindspeed Technologies, Inc., 4000 MacArthur Boulevard, East Tower, Newport Beach, California 92660, or at such other address as the Company may hereafter designate in writing.

 16. Transferability. Notwithstanding Section 15 of the Plan, except to the limited extent provided in
Section 6, the unvested Restricted Stock Units subject to this Award and the rights and privileges conferred hereby may not be sold, pledged, assigned, hypothecated, transferred or disposed of by Participant other than by will or by the laws of
descent and distribution. Notwithstanding any transfer of any Restricted Stock Units subject to this Award or portion thereof, such transferred Restricted Stock Units will continue to be subject to the Plan and this Award Agreement as were
applicable to Participant immediately prior to the transfer, as if such Restricted Stock Units had not been transferred. 
 17.
Binding Agreement. Subject to the limitation on the transferability of this grant contained herein, this Award Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of
the parties hereto. 
 18. Additional Conditions to Issuance of Stock. If at any time the Company will determine, in its
discretion, that the listing, registration, qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or foreign law, the tax code and related regulations or the consent or approval of any governmental
regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant (or his or her estate) hereunder, such issuance will not occur unless and until such listing, registration, qualification, rule compliance,
consent or approval will have been completed, effected or obtained free of any conditions not acceptable to the Company. Where the Company determines that the delivery of the payment of any Shares will violate federal securities laws or other
applicable laws, the Company will defer delivery until the earliest date at which the Company reasonably anticipates that the delivery of Shares will no longer cause such violation. The Company will make all reasonable efforts to meet the
requirements of any such state, federal or foreign law or securities exchange and to obtain any such consent or approval of any such governmental authority or securities exchange. 

19. Administrator Authority. The Administrator will have the power to interpret the Plan and this Award Agreement and to adopt
such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Restricted Stock Units have
vested). All actions taken and all interpretations and determinations made by the 

  
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Administrator in good faith will be final and binding upon Participant, the Company and all other interested persons. No member of the Administrator will be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan or this Award Agreement. 
 20. Electronic
Delivery. The Company may, in its sole discretion, decide to deliver any documents related to Restricted Stock Units awarded under the Plan or future Restricted Stock Units that may be awarded under the Plan by electronic means or request
Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and
maintained by the Company or a third party designated by the Company. 
 21. Captions. Captions provided herein are for
convenience only and are not to serve as a basis for interpretation or construction of this Award Agreement. 
 22. Agreement
Severable. In the event that any provision in this Award Agreement is held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining
provisions of this Award Agreement. 
 23. Modifications to the Agreement. This Award Agreement constitutes the entire
understanding of the parties on the subjects covered. Participant expressly warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications
to this Award Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company reserves the right to
revise this Award Agreement as it deems necessary or advisable, in its sole discretion and without the consent of Participant, to comply with Section 409A, or to otherwise avoid imposition of any additional tax or income recognition under
Section 409A in connection to this Award of Restricted Stock Units. 
 24. Amendment, Suspension or Termination of the
Plan. By accepting this Award, Participant expressly warrants that he or she has received an Award of Restricted Stock Units under the Plan, and has received, read and understood a description of the Plan. Participant understands that the Plan
is discretionary in nature and may be amended, suspended or terminated by the Company at any time. 
 25. Governing Law and
Venue. This Award Agreement will be governed by the laws of the State of Delaware, without giving effect to the conflict of law principles thereof. For purposes of litigating any dispute that arises under this Award of Restricted Stock Units or
this Award Agreement, the parties hereby submit to and consent to the jurisdiction of the State of California, and agree that such litigation will be conducted in the courts of Orange County, California, or the federal courts for the United States
for the Central District of California, and no other courts, where this Award of Restricted Stock Units is made and/or to be performed. 

  
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 26. Language. If Participant has received this Award Agreement or any other document
related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control. 

27. Waiver. Participant acknowledges that a waiver by the Company of breach of any provision of this Award Agreement shall not
operate or be construed as a waiver of any other provision of this Award Agreement, or of any subsequent breach by Participant or any other participant. 

  
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 EXHIBIT B 

APPENDIX TO THE 
 MINDSPEED TECHNOLOGIES, INC. 
 2013 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AWARD AGREEMENT 
 NON-U.S. EMPLOYEES 
 Terms and Conditions 

This Appendix includes additional terms and conditions that govern the Restricted Stock Units granted to Participant under the Plan if
Participant resides in one of the countries listed below. Certain capitalized terms used but not defined in this Appendix have the meanings set forth in the Plan and/or the Award Agreement. 

If Participant is a citizen or resident of a country other than the one in which Participant is currently working, is considered a
resident of another country for local law purposes or transfers employment and/or residency between countries after the Grant Date, the Company shall, in its sole discretion, determine to what extent the additional terms and conditions included
herein will apply to Participant under these circumstances. 
 Notifications 

This Appendix also includes information regarding exchange controls and certain other issues of which Participant should be aware with
respect to his or her participation in the Plan. The information is based on the securities, exchange control and other laws in effect in the respective countries as of February 2013 Such laws are often complex and change frequently. As a result,
the Company strongly recommends that Participant not rely on the information in this Appendix as the only source of information relating to the consequences of participation in the Plan because the information may be out of date at the time that the
Restricted Stock Units vest or Participant sells the Shares acquired under the Plan. 
 In addition, the information contained
herein is general in nature and may not apply to Participant’s particular situation and the Company is not in a position to assure Participant of any particular result. Accordingly, Participant is advised to seek appropriate professional advice
as to how the relevant laws in Participant’s country may apply to Participant’s situation. 
 Finally, if Participant
is a citizen or resident of a country other than the one in which Participant is currently working or transfers employment to another country after the date of grant, or is considered a resident of another country for local law purposes, the
information contained herein may not be applicable to Participant in the same manner. 

  
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 Canada 
 Terms and Conditions 
 Restricted Stock Units Payable Only in
Shares. The grant of Restricted Stock Units does not provide any right for Participant to receive a cash payment, and the Restricted Stock Units are payable in Shares only. 

Termination of Service. The following provision replaces Section 8(j) of the Award Agreement: 

In the event of termination of Participant’s status as a Service Provider (regardless of the reason for such termination and whether
or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant’s employment or service agreement, if any), except as otherwise provided in the Award Agreement,
Participant’s right to vest in the Restricted Stock Units will terminate effective as of the date that is the earlier of (1) the date Participant receives notice of termination of service from the Employer, or (2) the date Participant
is no longer actively providing service. The right to vest in the Restricted Stock Units will not be extended by any notice period (e.g., active service would not include any contractual notice period or any period of “garden leave” or
similar period mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant’s employment or service agreement, if any); the Administrator shall have the exclusive discretion to determine when
Participant is no longer actively providing service for purposes of the Restricted Stock Units (including whether Participant may still be considered to be providing services while on a leave of absence). 

Data Privacy Notice and Consent. This provision supplements the “Data Privacy” section of the Award Agreement:

 Participant hereby authorizes the Company and the Company’s representatives to discuss with and obtain all relevant
information from all personnel, professional or not, involved in the administration and operation of the Plan. Participant further authorizes the Company and any Subsidiary or affiliate and the administrator of the Plan to disclose and discuss the
Plan with their advisors. Participant further authorizes the Company and any Subsidiary or affiliate to record such information and to keep such information in Participant’s employee file. 

The following provision will apply if Participant is a resident of Quebec: 

Language Consent. The parties acknowledge that it is their express wish that the Award Agreement, as well as all documents,
notices and legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English. 
 Les parties reconnaissent avoir exigé la rédaction en anglais de cette convention (“Award Agreement”), ainsi que de tous documents, avis et procédures judiciaires,
exécutés, donnés ou intentés en vertu de, ou liés directement ou indirectement à la présente convention. 

  
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 France 
 Terms and Conditions 
 Language Consent. By accepting the
Restricted Stock Units, Participant confirms having read and understood the Plan and the Award Agreement, which were provided in the English language. Participant accepts the terms of those documents accordingly. 

En acceptant cette attribution gratuite d’actions (« Restricted Stock Units »), vous confirmez avoir
lu et comprenez le Plan et ce Contrat, incluant tous leurs termes et conditions, qui ont été transmis en langue anglaise. Vous acceptez les dispositions de ces documents en connaissance de cause. 

Notifications 

Tax Notification. The Restricted Stock Units are not intended to qualify for favorable tax or social security treatment in France.

 Exchange Control Information and Tax Reporting. If Participant holds Shares outside of France and/or maintains a
foreign bank account, then Participant is required to report such to the French tax authorities when filing Participant’s annual tax return. 
 Germany 
 Notifications 

Exchange Control Information. If Participant makes cross-border payments in excess of €12,500 in connection with the
sale of securities (including Shares acquired under the Plan), Participant must file a monthly report with the Servicezentrum Außenwirtschaftsstatistik, which is the competent federal office of the Deutsche Bundesbank (the German
Central Bank) for such notifications in Germany. Participant is responsible for satisfying the reporting obligation and should be able to obtain a copy of the form used for this purpose from the German bank Participant uses to carry out the
transfer. 
 In addition, in the unlikely event that Participant holds Shares exceeding 10% of the total capital of the Company,
Participant must report his or her holdings in the Company on an annual basis. 
 Hong Kong 

Terms and Conditions 
 Restricted Stock Units Payable Only in Shares of Stock. The grant of Restricted Stock Units does not provide any right for you to receive a cash payment, and the Restricted Stock Units are payable
in Shares only. 
 Restriction on Sale. By accepting the Restricted Stock Units, Participant agrees that in the event
that the Restricted Stock Units vest and Shares are issued to Participant within six months of the date of grant, Participant agrees that he or she will not dispose of any Shares acquired prior to the six-month anniversary of the Grant Date.

  
 -13-

 Nature of Scheme. The Company specifically intends that the Plan will not be an
occupational retirement scheme for purposes of the Occupational Retirement Schemes Ordinance. 
 Notifications 

Securities Law Information. Warning: The Restricted Stock Units and any Shares to be issued pursuant to the Restricted Stock
Unit Award do not constitute a public offering of securities under Hong Kong law and are available only to employees of the Company or one of its Subsidiaries or affiliates. The Plan, the Award Agreement, and other incidental communication materials
have not been prepared in accordance with and are not intended to constitute a ‘prospectus’ for a public offering of securities under the applicable companies and securities legislation in Hong Kong, and the documents have not been
reviewed by any regulatory authority in Hong Kong. The Award Agreement and the incidental communication materials are intended only for the personal use of each eligible employee and not for distribution to any other persons. If Participant has any
doubt about any of the contents of the Award Agreement or the Plan, Participant should obtain independent professional advice. 

India 
 Notifications

 Exchange Control Information. Participant must repatriate to India the proceeds from the sale of Shares
acquired at vesting and any dividends received in relation to the Shares within 90 days after receipt. Participant must obtain evidence of the repatriation of funds in the form of a foreign inward remittance certificate (the “FIRC”) from
the bank where you deposited the foreign currency. Participant must retain the FIRC in his or her records to present to the Reserve Bank of India or the Employer in the event that proof of repatriation is requested. 

Foreign Assets Reporting Information. Participant is required to declare his or her foreign bank accounts and any foreign
financial assets (including Shares held outside India) in Participant’s annual tax return. It is Participant’s responsibility to comply with this reporting obligation and Participant should consult his or her personal advisor in this
regard. 
 Japan 
 Foreign Assets Reporting Information. If Participant maintains a foreign bank account outside of Japan with a value exceeding ¥50 million as of December 31, Participant is
required to report such to the Japanese authorities by March 15th each year. 

  
 -14-

 Korea 
 Notifications 
 Exchange Control Information. If Participant
realizes US$500,000 or more from the sale of Shares in a single transaction, Participant must repatriate the proceeds to Korea within 18 months of the of the receipt. 
 Taiwan 
 Notifications 

Exchange Control Information. Participant may acquire and remit foreign currency (including proceeds from the sale of
Shares) up to US$5,000,000 per year without justification. 
 If the transaction amount is TWD500,000 or more in a single
transaction, Participant must submit a Foreign Exchange Transaction Form. If the transaction amount is US$500,000 or more in a single transaction, Participant must also provide supporting documentation to the satisfaction of the remitting bank.

 United Kingdom 

Terms and Conditions 
 Responsibility for Taxes. This provision supplements Section 7 of the Award Agreement: 
 If payment or withholding of the income tax due is not made within ninety (90) days of the event giving rise to the income tax, or such other period specified in Section 222(1)(c) of the U.K.
Income Tax (Earnings and Pensions) Act 2003 (the “Due Date”), the amount of any uncollected income tax shall constitute a loan owed by Participant to the Employer, effective on the Due Date. Participant agrees that the loan will bear
interest at the then-current Official Rate of Her Majesty’s Revenue & Customs (“HMRC”), it will be immediately due and repayable, and the Company or the Employer may recover it at any time thereafter by any of the means
referred to in Section 7 of the Award Agreement. 
 Notwithstanding the foregoing, if Participant is a director or
executive officer of the Company (within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), Participant shall not be eligible for a loan from the Company to cover the income tax due. In the event that
Participant is a director or executive officer and income tax is not collected from or paid by Participant by the Due Date, the amount of any uncollected income tax will constitute a benefit to Participant on which additional income tax and national
insurance contributions (“NICs”) may be payable. Participant understands that he or she ultimately will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime
and for reimbursing the Company or the Employer (as applicable) for the value of any employee NICs due on this additional benefit. 

  
 -15-Class A(2013-1) Terms Document

 Exhibit 4.1 
  

 
  

DISCOVER CARD EXECUTION NOTE TRUST 
 Issuer 
 and 

U.S. BANK NATIONAL ASSOCIATION 
 Indenture Trustee 
 CLASS A(2013-1) TERMS DOCUMENT 

Dated as of February 13, 2013 
 to 
 AMENDED AND RESTATED INDENTURE SUPPLEMENT 

Dated as of June 4, 2010 
 for the DiscoverSeries Notes 
 to 

INDENTURE 
 Dated
as of July 26, 2007 
  
  

 

 TABLE OF CONTENTS 

 

							
		 		  	 	Page	  
	
	ARTICLE I	  
	
	Definitions and Other Provisions of General Application	  
	 Section 1.01
	 	Definitions	  	 	1	  
	 Section 1.02
	 	Representations and Warranties of Issuer	  	 	7	  
	 Section 1.03
	 	Representations and Warranties of Indenture Trustee	  	 	8	  
	 Section 1.04
	 	Limitations on Liability	  	 	8	  
	 Section 1.05
	 	Governing Law	  	 	8	  
	 Section 1.06
	 	Counterparts	  	 	8	  
	 Section 1.07
	 	Ratification of Indenture and Indenture Supplement	  	 	8	  
	
	ARTICLE II	  
	
	The Class A(2013-1) Notes	  
	 Section 2.01
	 	Creation and Designation	  	 	9	  
	 Section 2.02
	 	Adjustments to Required Subordinated Percentages and Amount	  	 	9	  
	 Section 2.03
	 	Interest Payment	  	 	9	  
	 Section 2.04
	 	Notification of LIBOR	  	 	10	  
	 Section 2.05
	 	Payments of Interest and Principal	  	 	10	  
	 Section 2.06      
	 	Form of Delivery of Class A(2013-1) Notes; Depository; Denominations	  	 	10	  
	 Section 2.07
	 	Delivery and Payment for the Class A(2013-1) Notes	  	 	10	  
	 Section 2.08
	 	Targeted Deposits to the Accumulation Reserve Account	  	 	11	  
	 Section 2.09
	 	Additional Issuances of Notes	  	 	11	  
	 Section 2.10
	 	Designation of Additional Amounts to be included in the Excess Spread Amount for the DiscoverSeries Notes	  	 	12	  
	 Section 2.11
	 	Variable Accumulation Period	  	 	12	  
	 Section 2.12
	 	Permitted Investments	  	 	13	  
	
	 Exhibit
  

Exhibit
A                     Form of Class A Note
	   
 

  

 THIS CLASS A(2013-1) TERMS DOCUMENT (this “Terms Document”), by and between
DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the
United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of February 13, 2013. 
 Pursuant to this Terms Document, the Issuer shall create a new Tranche of Class A Notes of the DiscoverSeries and shall specify the principal terms thereof. 

ARTICLE I 

Definitions and Other Provisions of General Application 
 Section 1.01 Definitions. For all purposes of this Terms Document, except as otherwise expressly provided or unless the context otherwise requires: 

(1) the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular;

 (2) all other terms used herein which are defined in the Indenture Supplement or the Indenture, either directly or by
reference therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the
meanings assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or
permitted hereunder means such accounting principles as are generally accepted in the United States of America at the date of such computation; 
 (4) all references in this Terms Document to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions of this Terms
Document; the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Terms Document as a whole and not to any particular Article, Section or other subdivision; 

(5) in the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained
in the Indenture Supplement or the Indenture, the terms and provisions of this Terms Document shall be controlling, but solely with respect to the Class A(2013-1) Notes; 
 (6) each capitalized term defined herein shall relate only to the Class A(2013-1) Notes and no other Tranche of Notes issued by the Issuer; 

(7) “including” and words of similar import will be deemed to be followed by “without limitation”; and 

(8) for purposes of determining any amount or making any calculation hereunder, such amount or calculation, (x) if specified to be
as of the first day of any Due Period, shall (a)

  

 
include any Notes issued during such Due Period as if such Notes had been outstanding on the first day of such Due Period and (b) give effect to any payments, deposits or other allocations
made on the Distribution Date related to the prior Due Period, and (y) if specified to be as of the close of business on the last day of any Due Period shall give effect to any payments, deposits or other allocations made on the related
Distribution Date. 
 “Accumulation Amount” means $66,666,666.67; provided, however, if the
commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Amount shall be determined in accordance with the definition of “Accumulation Amount” in the Indenture Supplement. 

“Accumulation Commencement Date” means February 1, 2017, or such later date as the Calculation Agent on behalf of
the Issuer determines in accordance with Section 2.11 hereof. 
 “Accumulation Period” has the meaning set
forth in the Indenture Supplement. 
 “Accumulation Period Length” means 12 months; provided,
however, if the commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Period Length shall be determined in accordance with the definition of “Accumulation Period Length” in
the Indenture Supplement. 
 “Accumulation Reserve Funding Period” shall not apply if the Calculation Agent on
behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right
column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date
immediately preceding the earlier to occur of: 
 (x) the Expected Maturity Date for the Class A(2013-1) Notes and 

(y) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2013-1) Notes is paid in full. 

 

			
	 Distribution Date:
	  	 Condition:

		
	(a) The Distribution Date occurring three (3) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with
Section 2.11 hereof) and any following Distribution Date	  	No condition.
		
	(b) The Distribution Date occurring four (4) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with
Section 2.11 hereof) and any following Distribution Date	  	The three-month rolling average Excess Spread Percentage is less than 4%.

  
 2 

			
	(c) The Distribution Date occurring six (6) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with Section 2.11
hereof) and any following Distribution Date	  	The three-month rolling average Excess Spread Percentage is less than 3%.
		
	(d) The Distribution Date occurring twelve (12) calendar months prior to the first scheduled Distribution Date of the Accumulation Period (as adjusted in accordance with
Section 2.11 hereof) and any following Distribution Date	  	The three-month rolling average Excess Spread Percentage is less than 2%.

 provided, however, if at any point the Accumulation Reserve Funding Period has not commenced because no condition
requiring funding has occurred or the Calculation Agent has determined that the Accumulation Period Length will be shortened to one (1) month, and subsequently a condition requiring funding occurs and the Calculation Agent determines that the
Accumulation Period Length will not be so shortened, the Accumulation Reserve Funding Period shall commence on the following Distribution Date. 
 “Class A(2013-1) Adverse Event” means the occurrence of any of the following: (a) an Early Redemption Event with respect to the Class A(2013-1) Notes or (b) an Event of Default
and acceleration of the Class A(2013-1) Notes; provided, however, that if the only such event to have occurred is an Excess Spread Early Redemption Event for which an Excess Spread Early Redemption Cure has occurred, a Class A(2013-1)
Adverse Event shall not be treated as continuing from and after the date of such cure. 
 “Class A(2013-1)
Note” means any Note, in the form set forth in Exhibit A hereto, designated therein as a Class A(2013-1) Note and duly executed and authenticated in accordance with the Indenture. 

“Class A(2013-1) Noteholder” means a Person in whose name a Class A(2013-1) Note is registered in the Note Register.

 “Class A(2013-1) Termination Date” means the earliest to occur of (a) the Principal Payment Date on
which the Outstanding Dollar Principal Amount of the Class A(2013-1) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to Article VI thereof. 

“Excess Spread Percentage” for any Distribution Date means a fraction, the numerator of which is the Excess Spread
Amount for such Distribution Date multiplied by 12 and the denominator of which is the sum of the Nominal Liquidation Amounts of all Tranches of DiscoverSeries Notes as of the first day of the related Due Period. 

“Expected Maturity Date” means February 15, 2018. 

  
 3 

 “Indenture” means the Indenture dated as of July 26, 2007 between the
Issuer and Indenture Trustee, as amended by the First Amendment to Indenture, dated as of June 4, 2010, as such agreement may be further amended, supplemented, restated, amended and restated, replaced or otherwise modified from time to time.

 “Indenture Supplement” means the Amended and Restated Indenture Supplement dated as of June 4, 2010,
for the DiscoverSeries Notes, by and between the Issuer and the Indenture Trustee, as the same may be further amended, supplemented, restated, amended and restated, replaced or otherwise modified from time to time. 

“Initial Dollar Principal Amount” means $800,000,000, or such higher amount as is specified in any Notice of Additional
Issuance under Section 2.09 hereof. 
 “Interest Accrual Period” means, with respect to any Interest
Payment Date, the period from and including the previous Interest Payment Date (or, in the case of the first Interest Payment Date for any Class A(2013-1) Note, from and including the applicable Issuance Date) to but excluding such Interest Payment
Date. 
 “Interest Payment Date” means the fifteenth day of each month commencing in March 2013, or if such
fifteenth day is not a Business Day, the next succeeding Business Day. 
 “Issuance Date” means
February 13, 2013 with respect to all Class A(2013-1) Notes issued on the date hereof and, with respect to any additional Class A(2013-1) Notes issued pursuant to Section 2.09 hereof, any Issuance Date specified in the Notice of Additional
Issuance delivered thereunder. 
 “Legal Maturity Date” means August 17, 2020. 

“LIBOR” means, with respect to any LIBOR Determination Date, the rate for deposits in United States dollars with a
duration comparable to the relevant Interest Accrual Period which appears on Reuters Screen LIBOR01 as of 11:00 a.m., London time, on such day. If such rate does not appear on Reuters Screen LIBOR01, the rate will be determined by the Indenture
Trustee on the basis of the rates at which deposits in United States dollars are offered by major banks in the London interbank market, selected by the Indenture Trustee, at approximately 11:00 a.m., London time, on such day to prime banks in the
London interbank market with a duration comparable to the relevant Interest Accrual Period commencing on that day. The Indenture Trustee will request the principal London office of at least four banks to provide a quotation of its rate. If at least
two such quotations are provided, the rate will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that day will be the arithmetic mean of the rates quoted by four major banks in New York
City, selected by the Trustee, at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks with a duration comparable to the relevant Interest Accrual Period commencing on that day. If
LIBOR with respect to a LIBOR Determination Date is not determined pursuant to the foregoing, LIBOR with respect to such LIBOR Determination Date will be LIBOR with respect to the immediately prior LIBOR Determination Date. 

  
 4 

 “LIBOR Business Day,” if applicable, shall mean a day other than a Saturday
or a Sunday on which banking institutions in both the City of London, England and in New York, New York are not required or authorized by law to be closed. 
 “LIBOR Determination Date” means the second LIBOR Business Day immediately preceding the commencement of an Interest Accrual Period. 

“Note Interest Rate” means LIBOR + 0.30% per annum, calculated on the basis of the actual number of days elapsed
and a 360-day year. 
 “Notice of Additional Issuance” has the meaning set forth in Section 2.09 hereof.

 “Required Daily Deposit Target Finance Charge Amount” means, for any day in a Due Period, an amount equal to
the Class A Tranche Interest Allocation for the related Distribution Date; provided, however, that for purposes of determining the Required Daily Deposit Target Finance Charge Amount on any day on which the Class A Tranche Interest
Allocation cannot be determined because the LIBOR Determination Date for the applicable Interest Accrual Period has not yet occurred, the Required Daily Deposit Target Finance Charge Amount shall be the Class A Tranche Interest Allocation
determined based on a pro forma calculation made on the assumption that LIBOR will be LIBOR for the applicable period determined on the first day of such calendar month, multiplied by 1.25. 

“Required Daily Deposit Target Principal Amount” means, for any day in a Due Period, (i) if such Due Period is in
the Accumulation Period for the Class A(2013-1) Notes, the Accumulation Amount, (ii) if such day is on or after the occurrence and during the continuance of a Class A(2013-1) Adverse Event, the Nominal Liquidation Amount of the Class A(2013-1)
Notes, and (iii) in all other circumstances, zero. 
 “Required Subordinated Amount of Class B Notes”
means, for the Class A(2013-1) Notes for any date of determination, an amount equal to the product of 
 (a) the Required
Subordinated Percentage of Class B Notes for such Class A(2013-1) Notes on such date of determination and 
 (b) the Nominal
Liquidation Amount of such Class A(2013-1) Notes on such date of determination; 
 provided, however, that for any date of determination
on or after the occurrence and during the continuation of a Class A(2013-1) Adverse Event, the Required Subordinated Amount of Class B Notes for the Class A(2013-1) Notes will be the greater of 

(x) the amount determined above for such date of determination and 

(y) the amount determined above for the date immediately prior to the date on which such Class A(2013-1) Adverse Event shall have
occurred. 
 “Required Subordinated Amount of Class C Notes” means, for the Class A(2013-1) Notes for any date
of determination, an amount equal to the product of 

  
 5 

 (a) the Required Subordinated Percentage of Class C Notes for such Class A(2013-1) Notes on
such date of determination and 
 (b) the Nominal Liquidation Amount of such Class A(2013-1) Notes on such date of
determination; 
 provided, however, that for any date of determination on or after the occurrence and during the continuation of
a Class A(2013-1) Adverse Event, the Required Subordinated Amount of Class C Notes for the Class A(2013-1) Notes will be the greater of 
 (x) the amount determined above for such date of determination and 
 (y) the
amount determined above for the date immediately prior to the date on which such Class A(2013-1) Adverse Event shall have occurred. 
 “Required Subordinated Amount of Class D Notes” means, for the Class A(2013-1) Notes for any date of determination, an amount equal to the product of 

(a) the Required Subordinated Percentage of Class D Notes for such Class A(2013-1) Notes on such date of determination and 

(b) the Nominal Liquidation Amount of such Class A(2013-1) Notes on such date of determination; 

provided, however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2013-1) Adverse Event,
the Required Subordinated Amount of Class D Notes for the Class A(2013-1) Notes will be the greater of 
 (x) the amount
determined above for such date of determination and 
  

	 	(y)	the amount determined above for the date immediately prior to the date on which the Class A(2013-1) Adverse Event shall have occurred. 

“Required Subordinated Percentage of Class B Notes” means, for the Class A(2013-1) Notes, 7.284768%, subject to
adjustment in accordance with Section 2.02. 
 “Required Subordinated Percentage of Class C Notes” means,
for the Class A(2013-1) Notes, 9.271523%, subject to adjustment in accordance with Section 2.02. 
 “Required
Subordinated Percentage of Class D Notes” means, for the Class A(2013-1) Notes, 15.894040%, subject to adjustment in accordance with Section 2.02. 
 “Reuters Screen LIBOR01” means the display page currently so designated on the Reuters Screen (or such other page as may replace that page on that service for the purpose of displaying
comparable rates or prices). 
 “Specified Rating” means, for the Class A(2013-1) Notes, Aaa(sf) with respect
to Moody’s, AAA(sf) with respect to Standard & Poor’s and AAAsf with respect to Fitch. 

  
 6 

 “Stated Principal Amount” means $800,000,000 or such higher amount as is
specified in any Notice of Additional Issuance under Section 2.09. 
 “Targeted Accumulation Reserve Subaccount
Deposit” means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2013-1) Notes as of the close of business on
the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer. 
 Section 1.02 Representations and Warranties of Issuer. The Issuer represents and warrants that: 
 (a) the Issuer has been duly formed and is validly existing as a statutory trust in good standing under the laws of the State of Delaware, and has full power and authority to execute and deliver this
Terms Document and to perform the terms and provisions hereof; 
 (b) the execution, delivery and performance of this Terms
Document by the Issuer have been duly authorized by all necessary corporate and statutory trust proceedings of any Beneficiary and the Owner Trustee, do not require any approval or consent of any governmental agency or authority, and do not and will
not conflict with any material provision of the Certificate of Trust or the Trust Agreement of the Issuer; 
 (c) this Terms
Document is the valid, binding and enforceable obligation of the Issuer, except as the same may be limited by receivership, insolvency, reorganization, moratorium or other laws relating to the enforcement of creditors’ rights generally or by
general equity principles; 
 (d) to the best of the Issuer’s knowledge, this Terms Document will not conflict with any law
or governmental regulation or court decree applicable to it; 
 (e) the Issuer is not required to be registered under the
Investment Company Act; 
 (f) all information heretofore furnished by the Issuer in writing to the Indenture Trustee for
purposes of or in connection with this Terms Document or any transaction contemplated hereby is, and all such information hereafter furnished by the Issuer in writing to the Indenture Trustee will be, true and accurate in every material respect or
based on reasonable estimates on the date as of which such information is stated or certified; and 
 (g) to the best knowledge
of the Issuer, there are no proceedings or investigations pending against the Issuer before any court, regulatory body, administrative agency, or other tribunal or governmental instrumentality having jurisdiction over the Issuer (A) asserting
the invalidity of this Terms Document, (B) seeking to prevent the consummation of any of the transactions contemplated by this Terms Document or (C) seeking any determination or ruling which in the Issuer’s judgment would materially
and adversely affect the performance by the Issuer of its obligations under this Terms Document or the validity or enforceability of this Terms Document. 

  
 7 

 Section 1.03 Representations and Warranties of Indenture Trustee. The Indenture
Trustee represents and warrants and any successor trustee shall represent and warrant that: 
 (a) The Indenture Trustee is
organized, existing and in good standing under the laws of the United States of America; 
 (b) The Indenture Trustee has full
power, authority and right to execute, deliver and perform this Terms Document, and has taken all necessary action to authorize the execution, delivery and performance by it of this Terms Document; and 

(c) This Terms Document has been duly executed and delivered by the Indenture Trustee. 

Section 1.04 Limitations on Liability. 
 (a) It is expressly understood and agreed by the parties hereto that (i) this Terms Document is executed and delivered by the Owner Trustee not individually or personally but solely as Owner Trustee
under the Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal
representation, undertaking or agreement by the Owner Trustee but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained will be construed as creating any liability on the Owner Trustee individually or
personally, to perform any covenant of the Issuer either expressed or implied herein, all such liability, if any, being expressly waived by the parties to this Terms Document and by any Person claiming by, through or under them and (iv) under
no circumstances will the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the
Issuer under this Terms Document or any related documents. 
 (b) None of the Indenture Trustee, the Owner Trustee, the
Calculation Agent, any Beneficiary, the Depositor, any Master Servicer or any Servicer or any of their respective officers, directors, employees, incorporators or agents will have any liability with respect to this Terms Document, and recourse may
be had solely to the Collateral pledged to secure these Class A(2013-1) Notes under the Indenture, the Indenture Supplement and this Terms Document. 
 Section 1.05 Governing Law. THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW,
WITHOUT REFERENCE TO ANY CONFLICT OF LAW PROVISIONS THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANY OTHER STATE. 

Section 1.06 Counterparts. This Terms Document may be executed in any number of counterparts, each of which when so executed
will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 

Section 1.07 Ratification of Indenture and Indenture Supplement. As supplemented by this Terms Document, each of the
Indenture and the Indenture Supplement is in all respects 

  
 8 

 ratified and confirmed and the Indenture as supplemented by the Indenture Supplement and this Terms Document
shall be read, taken and construed as one and the same instrument. 
 ARTICLE II 

The Class A(2013-1) Notes 
 Section 2.01 Creation and Designation. There is hereby created a Tranche of Class A Notes to be issued pursuant to this Terms Document, the Indenture and the Indenture Supplement to be
known as the “DiscoverSeries Class A(2013-1) Notes.” 
 Section 2.02 Adjustments to Required Subordinated
Percentages and Amount. 
 (a) On any date, the Issuer may, at the direction of the Beneficiary, change the Required
Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class A(2013-1) Notes, without the consent of any Noteholders;
provided that the Issuer has received written confirmation from each applicable Note Rating Agency that the change in such percentage will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes. 

(b) On any date, the Issuer may, at the direction of the Beneficiary, replace all or a portion of the Required Subordinated Amount of
Class B Notes, the Required Subordinated Amount of Class C Notes or the Required Subordinated Amount of Class D Notes, in each case for the Class A(2013-1) Notes with a different form of credit enhancement (including, without limitation, a cash
collateral account, a letter of credit, a reserve account, a surety bond, an insurance policy or a collateral interest, or any combination thereof) and may add such definitions and other terms and make such additional amendments to this Terms
Document as shall be necessary for such replacement without the consent of any Noteholders, provided that the Issuer has received written confirmation from each applicable Note Rating Agency that such replacement and such other amendments
will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes. 
 Section 2.03 Interest
Payment. For each Interest Payment Date, the amount of interest due with respect to the Class A(2013-1) Notes shall be an amount equal to 
  

	 	(i)	(A) a fraction, the numerator of which is the actual number of days in the related Interest Accrual Period and the denominator of which is 360, times

  

	 	(B)	the Note Interest Rate in effect with respect to such related Interest Accrual Period, times 

 

	 	(ii)	the Outstanding Dollar Principal Amount of the Class A(2013-1) Notes determined as of the first date of such related Interest Accrual Period, plus

  
 9 

 any Class A Tranche Interest Allocation Shortfall for such Class A(2013-1) Notes for the immediately
preceding Distribution Date, together with interest thereon at the Note Interest Rate in effect with respect to such related Interest Accrual Period, calculated on the basis of the actual number of days in the related Interest Accrual Period and a
360-day year. 
 Section 2.04 Notification of LIBOR. On each LIBOR Determination Date, the Indenture Trustee shall
send to the Issuer, the Beneficiary, each applicable Master Servicer and any stock exchange on which the Class A(2013-1) Notes are then listed (if the rules of such exchange so require), by facsimile transmission or electronic transmission,
notification of LIBOR for the following Interest Accrual Period. 
 Section 2.05 Payments of Interest and Principal.

 (a) The Issuer will cause interest to be paid on each Interest Payment Date and principal to be paid on the Expected Maturity
Date; provided, however, that it shall not be an Event of Default if principal is not paid in full on such Expected Maturity Date unless funds for such payment have been allocated in accordance with Section 3.01 of the Indenture
Supplement; and provided, further, that if a Class A(2013-1) Adverse Event has occurred and is continuing, principal will instead be payable in monthly installments on each Principal Payment Date for the Class A(2013-1) Notes in
accordance with Sections 3.01 and 3.05 of the Indenture Supplement. All payments of interest and principal on the Class A(2013-1) Notes shall be made as set forth in Section 1102 of the Indenture. 

(b) The right of the Class A(2013-1) Noteholders to receive payments from the Issuer will terminate on the Class A(2013-1) Termination
Date. 
 (c) All payments of principal, interest or other amounts to the Class A(2013-1) Noteholders will be made pro
rata based on the Stated Principal Amount of their Class A(2013-1) Notes. 
 Section 2.06 Form of Delivery of Class
A(2013-1) Notes; Depository; Denominations. 
 (a) The Class A(2013-1) Notes shall be delivered in the form of a Global Note
which shall be a Registered Note as provided in Section 204 of the Indenture. The form of the Class A(2013-1) Notes is attached hereto as Exhibit A. 
 (b) The Depository for the Class A(2013-1) Notes shall be The Depository Trust Company, and the Class A(2013-1) Notes shall initially be registered in the name of Cede & Co., its nominee.

 (c) The Class A(2013-1) Notes will be issued in minimum denominations of $200,000 and integral multiples of $1,000 in excess
of that amount. 
 Section 2.07 Delivery and Payment for the Class A(2013-1) Notes. The Issuer shall execute and
deliver the Class A(2013-1) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2013-1) Notes when authenticated, each in accordance with Sections 203 and 303 of the Indenture. 

  
 10 

 Section 2.08 Targeted Deposits to the Accumulation Reserve Account. The deposit
targeted to be made to the Accumulation Reserve Subaccount for the Class A(2013-1) Notes for any Due Period during the Accumulation Reserve Funding Period will be an amount equal to the Targeted Accumulation Reserve Subaccount Deposit minus
any amount on deposit in the Accumulation Reserve Subaccount for the Class A(2013-1) Notes. 
 Section 2.09
Additional Issuances of Notes. Subject to clauses (ii), (iii), (iv) and (v) of Sections 2.02 and Section 2.03 of the Indenture Supplement, the Issuer may issue additional Class A(2013-1) Notes, so long as the following
conditions precedent are satisfied: 
 (a) the Issuer shall have given the Indenture Trustee written notice of such issuance of
additional Class A(2013-1) Notes (the “Notice of Additional Issuance”) at least one (1) Business Day in advance of the Issuance Date thereof, which notice shall include: 

 

	 	(i)	the Issuance Date of such additional Class A(2013-1) Notes; 

  

	 	(ii)	the amount of such additional Class A(2013-1) Notes being offered and the resulting Initial Dollar Principal Amount and Stated Principal Amount of Class A(2013-1)
Notes; 

  

	 	(iii)	the date from which interest on such additional Class A(2013-1) Notes will accrue (which may be a date prior to the date of issuance thereof); 

 

	 	(iv)	the first Interest Payment Date on which interest will be paid on such additional Class A(2013-1) Notes; and 

 

	 	(v)	any other terms that the Issuer set forth in such notice of issuance of additional Class A(2013-1) Notes to clarify the rights of Holders of such additional Class
A(2013-1) Notes or the effect of such issuance of additional Class A(2013-1) Notes on any calculations to be made with respect to the Class A(2013-1) Notes, Class A, or the Issuer. 

All such terms shall be incorporated into and form a part of this Terms Document on and after the effective date of such Class A(2013-1) Notes;

 (b) no Class A(2013-1) Adverse Event has occurred and is continuing; and 

(c) either (i) the issuance of such additional Class A(2013-1) Notes would be treated as part of the same issue as the outstanding
Class A(2013-1) Notes under Treasury Regulation Sections 1.1275-1(f)(1) or 1.1275-2(k), or (ii) such additional Class A(2013-1) Notes are not issued with “original issue discount” for purposes of Section 1273 of the Code.

 The Issuer shall not have to satisfy the conditions set forth in Section 310 of the Indenture in connection with an
issuance of additional Class A(2013-1) Notes so long as such conditions were satisfied or waived in connection with the initial issuance of Class A(2013-1) Notes; 

  
 11 

 provided, however, that the Issuer shall have to deliver to the Indenture Trustee a Master Trust Tax
Opinion and an Issuer Tax Opinion with respect to such issuance. 
 Section 2.10 Designation of Additional
Amounts to be included in the Excess Spread Amount for the DiscoverSeries Notes. At any time that any outstanding Series of certificates issued by the Master Trust provides that the Series Principal Collections allocated to such Series will be
deposited into the Group Finance Charge Collections Reallocation Account for the Master Trust to the extent necessary for application to cover shortfalls for other Series issued by the Master Trust, an amount equal to (x) all Series Principal
Collections allocated to such Series, multiplied by (y) a fraction, the numerator of which is the sum of the Nominal Liquidation Amounts for each outstanding Tranche of the DiscoverSeries Notes (including the Class A(2013-1) Notes and
the denominator of which is (i) the Aggregate Investor Interest for the Master Trust minus (ii) the sum of the Series Investor Interests for all such Series that provide that the Series Principal Collections allocated to such Series
will be so deposited, is hereby designated to be included in the Excess Spread Amount and shall be treated as Series Finance Charge Amounts for the DiscoverSeries.  
 Section 2.11 Variable Accumulation Period. Notwithstanding anything to the contrary in Section 4.02 of the Indenture Supplement, the Calculation Agent on behalf of the Issuer
shall, by written notice to the Indenture Trustee, delay the commencement of the Accumulation Period for the Class A(2013-1) Notes and determine a new Accumulation Commencement Date, subject to the conditions set forth in this Section 2.11;
provided, however, that the Accumulation Period shall commence no later than the first day of the Due Period related to the Expected Maturity Date for the Class A(2013-1) Notes. Any such delay by the Calculation Agent on behalf of the
Issuer shall be made no later than the first day of the scheduled Due Period immediately preceding the first Due Period in the Accumulation Period (after giving effect to any prior delay in the commencement of the Accumulation Period pursuant to
this Section 2.11). 
 The Calculation Agent on behalf of the Issuer shall cause such delay if the Calculation Agent
determines in good faith that each of the following conditions will be satisfied: (i) the Calculation Agent on behalf of the Issuer delivers to the Indenture Trustee a certificate to the effect that the Calculation Agent on behalf of the Issuer
reasonably believes that, based on the payment rate and the anticipated availability of Series Principal Amounts and Reallocated Principal Amounts, the delay in the commencement of the Accumulation Period for the Class A(2013-1) Notes will not
result in any Tranche of Notes not being paid in full on the relevant Expected Maturity Date; (ii) such delay is permitted under the Series 2007-CC Series Supplement or any other applicable agreement relating to any Additional Collateral
Certificate; and (iii) the Accumulation Amount, the Accumulation Commencement Date and the Accumulation Period Length shall have been adjusted. The Calculation Agent on behalf of the Issuer shall not be required to obtain confirmation from the
applicable Note Rating Agencies that such delay in the commencement of the Accumulation Period will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes, unless at the time of such delay there is a Tranche of
Outstanding DiscoverSeries Notes, which were issued prior to January 1, 2009 and for which the commencement of the Accumulation Period for such Tranche of Notes has already been delayed pursuant to Section 4.02 of the Indenture Supplement.
If such confirmation from the applicable Note Rating Agency is not required, the Calculation Agent on behalf of the Issuer shall provide written notice to each applicable Note Rating Agency in the event that the

  
 12 

 
commencement of the Accumulation Period for the Class A(2013-1) Notes is delayed pursuant to this Section 2.11. 
 Section 2.12 Permitted Investments. Notwithstanding anything to the contrary in the Indenture or the Pooling and Servicing Agreement, with respect to the Class A(2013-1) Notes, for purposes of
the definition of Permitted Investment, “Highest Rating” shall mean, with respect to Standard & Poor’s: 

(a) A-1 or AAA for funds on deposit in all Issuer Accounts other than Principal Funding Accounts; 

(b) A-1+ or AAA for funds on deposit in Principal Funding Accounts; or 

(c) any rating category which will not cause a reduction in or withdrawal of the rating of the Class A(2013-1) Notes, as confirmed in
writing by Standard & Poor’s. 
 [Remainder of page intentionally blank; signature page follows] 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have caused this Terms Document to be duly executed,
all as of the day and year first above written. 
  

			
	 DISCOVER CARD EXECUTION NOTE

TRUST,
 as Issuer

		
	By:	 	 Wilmington Trust Company,
 not
in its individual capacity but solely
 as Owner Trustee

		
	By:	 	 
		 	Name: Jennifer A. Luce
		 	Title: Vice President
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as Indenture Trustee

		
	By:	 	 
		 	Name: Patricia M. Child
		 	Title: Vice President

 [Signature Page to Class A(2013-1) Terms Document] 

 DISCOVERSERIES CLASS A(2013-1) NOTE 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS NOTE, BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT AT
ANY TIME INSTITUTE AGAINST THE ISSUER, ANY MASTER TRUST OR ANY SPECIAL PURPOSE ENTITY THAT ACTS AS A DEPOSITOR WITH RESPECT TO ANY MASTER TRUST OR THE ISSUER, OR JOIN IN ANY INSTITUTION AGAINST THE ISSUER, ANY MASTER TRUST OR ANY SPECIAL PURPOSE
ENTITY THAT ACTS AS A DEPOSITOR WITH RESPECT TO ANY MASTER TRUST OR THE ISSUER, ANY RECEIVERSHIP, INSOLVENCY, BANKRUPTCY OR SIMILAR PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION
WITH ANY OBLIGATIONS RELATING TO THE NOTES, THE INDENTURE, ANY DERIVATIVE AGREEMENT, ANY SUPPLEMENTAL CREDIT ENHANCEMENT AGREEMENT AND ANY SUPPLEMENTAL LIQUIDITY AGREEMENT. 
 THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS
FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME. 

			
	 REGISTERED
	  	$[•] *
	 No. 1
	  	CUSIP NO. 254683BB0

 DISCOVER CARD EXECUTION NOTE TRUST 

Floating Rate 

DISCOVERSERIES CLASS A(2013-1) NOTE 
 DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (herein referred to as the “Issuer” or the “Note Issuance Trust”),
for value received, hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of $[•] ([•] dollars) payable on the February 15, 2018 Payment Date (the “Expected
Maturity Date”), except as otherwise provided below or in the Indenture or the Indenture Supplement (as defined on the reverse hereof); provided, however, that the entire unpaid principal amount of this Note shall be due and
payable on the August 17, 2020 Payment Date (the “Legal Maturity Date”). Interest will accrue on this Note at the rate of one-month LIBOR + 0.30% per annum, as more specifically set forth in the Class A(2013-1) Terms
Document dated as of February 13, 2013 (the “Terms Document”), between the Issuer and U.S. Bank National Association, as Indenture Trustee (the “Indenture Trustee”, which term includes any successor Indenture
Trustee under the Indenture), and shall be due and payable on each Interest Payment Date from and including the previous Interest Payment Date (or, in the case of the first Interest Payment Date for any Class A(2013-1) Notes, from and including the
applicable Issuance Date) to but excluding such Interest Payment Date. Interest will be computed on the basis of the actual number of days elapsed and a 360-day year. Such principal of and interest on this Note shall be paid in the manner specified
on the reverse hereof. 
 The principal and interest may be payable monthly, and may be payable earlier or later than the
Expected Maturity Date, following an Event of Default or while an Early Redemption Event has occurred and is continuing. No principal or interest will be distributed on the Note following the distribution of proceeds of a Receivables Sale.

 The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts. 
 The Initial Dollar Principal Amount of the Class
A(2013-1) Notes is $800,000,000. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication
hereon has been executed by the Indenture Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture, Indenture Supplement or the Terms Document referred to on the reverse hereof, or be
valid or obligatory for any purpose. 
  

	*	Denominations of $200,000 and in integral multiples of $1,000 in excess thereof. 

  
 2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in
facsimile, by its Authorized Officer. 
  

			
	 DISCOVER CARD EXECUTION NOTE TRUST, as Issuer

		
	 By:
	 	WILMINGTON TRUST COMPANY,
not in its individual capacity, but solely as Owner Trustee
		
	 By:
	 	
		 	  

		 	Name:
		 	Title:
		
		 	Date:

  
 3 

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

			
	 US BANK NATIONAL ASSOCIATION,
not in its individual capacity but solely as Indenture Trustee

		
	 By:
	 	 
		 	Name:
		 	Title:
		
		 	Date:

  
 4 

 REVERSE OF NOTE 

This Note is one of the Notes of a duly authorized issue of Notes of the Issuer, designated as its Class A(2013-1) DiscoverSeries Notes
(herein called the “Class A(2013-1) Notes”), all issued under an Indenture dated as of July 26, 2007, as amended by the First Amendment to Indenture, dated as of June 4, 2010 (such Indenture, as may be further amended,
restated, amended and restated, supplemented, replaced or otherwise modified from time to time, is herein called the “Indenture”), as supplemented by an Amended and Restated Indenture Supplement for the DiscoverSeries Notes, dated
as of June 4, 2010 (such Indenture Supplement, as may be further amended, restated, amended and restated, supplemented, replaced or otherwise modified from time to time, is herein called the “Indenture Supplement”), between the
Issuer and Indenture Trustee, to which Indenture and Indenture Supplement reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture Trustee and the Holders of the Notes. The Class
A(2013-1) Notes are subject to all terms of the Indenture, the Indenture Supplement and the Terms Document. All terms used in this Class A(2013-1) Note that are defined in the Indenture, the Indenture Supplement and the Terms Document shall have the
meanings assigned to them in or pursuant to the Indenture, the Indenture Supplement and the Terms Document. 
 The Class B
Notes, the Class C Notes and the Class D Notes of the DiscoverSeries and other tranches of Class A Notes of the DiscoverSeries will also be issued under the Indenture and the Indenture Supplement. 

The Class A(2013-1) Notes are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the
Indenture and the Indenture Supplement. 
 Principal of the Class A(2013-1) Notes will be payable on the Expected Maturity Date
in an amount described on the face hereof except as otherwise provided in the Indenture or the Indenture Supplement. 
 As
described above, the entire unpaid principal amount of this Class A(2013-1) Note shall be due and payable on the Legal Maturity Date. Notwithstanding the foregoing, the entire unpaid principal amount of the Class A(2013-1) Notes shall be due and
payable on the date on which an Event of Default relating to the Class A(2013-1) Notes shall have occurred and be continuing and, except in the event of an insolvency related default, the Indenture Trustee or the Majority Holders of the applicable
Series, Class or Tranche of Outstanding Dollar Principal Amount of the Outstanding Notes have declared the Class A(2013-1) Notes to be immediately due and payable in the manner provided in Section 702 of the Indenture; provided,
however, that such acceleration of the entire unpaid principal amount of the Notes may be rescinded by the Majority Holders of such applicable Series, Class or Tranche of Notes. 

On any day occurring on or after the date on which the aggregate Nominal Liquidation Amount of any Tranche of Notes is reduced to less
than 5% of its highest Outstanding Dollar Principal Amount, the Depositor or any Affiliate thereof has the right, but not the obligation, to redeem such Tranche of Notes in whole but not in part, pursuant to Section 1202 of the
Indenture. The redemption price will be an amount equal to the Outstanding Dollar Principal Amount of such Tranche, plus accrued, unpaid and additional interest or principal accreted and unpaid on such Tranche to but excluding the date of
redemption. 

  
 5 

 Subject to the terms and conditions of the Indenture, the Beneficiary, on behalf of the Note
Issuance Trust, may from time to time issue, or direct the Owner Trustee, on behalf of the Note Issuance Trust, to issue, one or more Series, Classes or Tranches of Notes. 
 On each Payment Date, the Paying Agent shall distribute to each Holder of Class A(2013-1) Notes of record on the related Record Date (except for the final distribution with respect to this Class A(2013-1)
Note) such Holder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to pay interest and principal on the Class A Notes. 

Payments of interest on this Class A(2013-1) Note due and payable on each Payment Date, together with any installment of principal, if
any, to the extent not in full payment of this Class A(2013-1) Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Class A(2013-1) Note on the Note Register as of the close of business on each Record
Date, except that with respect to Class A(2013-1) Notes registered on the Record Date in the name of the nominee of the clearing agency (initially, such nominee to be CEDE & CO.), payments will be made by wire transfer in immediately
available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Class
A(2013-1) Note be submitted for notation of payment. Any reduction in the principal amount of this Class A(2013-1) Note (or any one or more Predecessor Notes) effected by any payments made on any Payment Date shall be binding upon all future Holders
of this Class A(2013-1) Note and of any Class A(2013-1) Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture,
for payment in full of the then remaining unpaid principal amount of this Class A(2013-1) Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Registered Holder hereof as
of the Record Date preceding such Payment Date by notice mailed within five days of such Payment Date and the amount then due and payable shall be payable only upon presentation and surrender of this Class A(2013-1) Note at the Indenture
Trustee’s principal Corporate Trust Office or at the office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. On any payment of interest or principal being made, details of such payment shall be
entered by the Indenture Trustee on behalf of the Issuer in Schedule A hereto. 
 As provided in the Indenture and subject to
certain limitations set forth therein and as set forth in the first legend on the face hereof, the transfer of this Class A(2013-1) Note may be registered on the Note Register upon surrender of this Class A(2013-1) Note for registration of transfer
at the office or agency designated by the Issuer pursuant to the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Indenture Trustee duly executed by, the Holder hereof or his attorney duly
authorized in writing, with such signature guaranteed by a commercial bank or trust company located, or having a correspondent located, in the City of New York or the city in which the Corporate Trust Office is located, or a member firm of a
national securities exchange, and such other documents as the Indenture Trustee may require, and thereupon one or more new Class A(2013-1) Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated
transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Class A(2013-1) Note, but the transferor may be required to pay a sum 

  
 6 

 
sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 

To the fullest extent permitted by applicable law, each Noteholder or Note Owner, by acceptance of a Class A(2013-1) Note or, in the case
of a Note Owner, a beneficial interest in a Class A(2013-1) Note, covenants and agrees that by accepting the benefits of the Indenture it will not at any time institute against the Issuer, any Master Trust or any special purpose entity that acts as
a depositor with respect to any Master Trust or the Issuer, or join in any institution against the Issuer, any Master Trust or any special purpose entity that acts as a depositor with respect to any Master Trust or the Issuer of, any receivership,
insolvency, bankruptcy or other similar proceedings, or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture, any Derivative Agreement, any
Supplemental Credit Enhancement Agreement and any Supplemental Liquidity Agreement. 
 Prior to the due presentment for
registration of transfer of this Class A(2013-1) Note, the Issuer, the Indenture Trustee and any agent of the Issuer or the Indenture Trustee may treat the Person in whose name this Class A(2013-1) Note (as of the day of determination or as of such
other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Class A(2013-1) Note be overdue, and neither the Issuer, the Indenture Trustee nor any such agent shall be affected by notice to
the contrary. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification
of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Holders of Notes representing not less than 66 2/3% of the Outstanding Dollar Principal
Amount of each adversely affected Series, Class or Tranche of Notes. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Dollar Principal Amount of the Notes, on behalf of the
Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Class A(2013-1) Note shall be
conclusive and binding upon such Holder and upon all future Holders of this Class A(2013-1) Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or
waiver is made upon this Class A(2013-1) Note. The Indenture also permits the Indenture Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 

The term “Issuer” as used in this Class A(2013-1) Note includes any successor to the Issuer under the Indenture.

 The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the
Indenture Trustee and the Holders of Notes under the Indenture. 
 The Class A(2013-1) Notes are issuable only in registered
form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 

  
 7 

 THIS CLASS A(2013-1) NOTE AND THE INDENTURE WILL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, WITHOUT REFERENCE TO ANY CONFLICT OF LAW PROVISIONS THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANY OTHER STATE. 

No reference herein to the Indenture and no provision of this Class A(2013-1) Note or of the Indenture shall alter or impair the
obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Class A(2013-1) Note at the times, place, and rate, and in the coin or currency herein prescribed. 

No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer on the Notes or under the Indenture or
any certificate or other writing delivered in connection therewith, against (i) the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner, beneficiary, agent,
officer, director or employee of the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer or any successor or assign of the Owner Trustee in its individual capacity, except as any such Person may have expressly
agreed (it being understood that the Owner Trustee has no such obligations in its individual capacity). The Holder of this Class A(2013-1) Note by the acceptance hereof agrees that, except as expressly provided in the Indenture and the Indenture
Supplement in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken
to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Class A(2013-1) Note. 

  
 8 

 ASSIGNMENT 
 Social Security or taxpayer I.D. or other identifying number of assignee 
  

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 
 (name and address of assignee) 
 the within Note and all rights thereunder, and hereby irrevocably
constitutes and appoints attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises. 
  

							
	 Dated:
                                         
                                         
  
	 		 	 	 	*
		 		 	Signature Guaranteed:	 	

  

	*	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without
alteration, enlargement or any change whatsoever. 

  
 9 

 SCHEDULE A 
 PART I 
 INTEREST PAYMENTS 

 

									
	 Interest
Payment Date
	  	 Date of
Payment
	  	 Total Amount
of Interest

Payable
	  	 Amount of
Interest Paid
	  	 Confirmation of
payment by or
on
behalf of the Note Issuance
Trust

	 1.
	  		  		  		  	
	 2.
	  		  		  		  	
	 3.
	  		  		  		  	
	 4.
	  		  		  		  	
	 5.
	  		  		  		  	
	 6.
	  		  		  		  	
	 7.
	  		  		  		  	
	 8.
	  		  		  		  	
	 9.
	  		  		  		  	
	 10.
	  		  		  		  	
	 11.
	  		  		  		  	
	 12.
	  		  		  		  	
	 13.
	  		  		  		  	
	 14.
	  		  		  		  	
	 15.
	  		  		  		  	
	 16.
	  		  		  		  	
	 17.
	  		  		  		  	
	 18.
	  		  		  		  	
	 19.
	  		  		  		  	
	 20.
	  		  		  		  	
	 21.
	  		  		  		  	
	 22.
	  		  		  		  	
	 23.
	  		  		  		  	
	 24.
	  		  		  		  	
	 25.
	  		  		  		  	
	 26.
	  		  		  		  	
	 27.
	  		  		  		  	
	 28.
	  		  		  		  	
	 29.
	  		  		  		  	
	 30.
	  		  		  		  	
	 31.
	  		  		  		  	
	 32.
	  		  		  		  	
	 33.
	  		  		  		  	
	 34.
	  		  		  		  	
	 35.
	  		  		  		  	
	 36.
	  		  		  		  	
	 37.
	  		  		  		  	

  
 10 

									
	 38.
	  		  		  		  	
	 39.
	  		  		  		  	
	 40.
	  		  		  		  	
	 41.
	  		  		  		  	
	 42.
	  		  		  		  	
	 43.
	  		  		  		  	
	 44.
	  		  		  		  	
	 45.
	  		  		  		  	
	 46.
	  		  		  		  	
	 47.
	  		  		  		  	
	 48.
	  		  		  		  	
	 49.
	  		  		  		  	
	 50.
	  		  		  		  	
	 51.
	  		  		  		  	
	 52.
	  		  		  		  	
	 53.
	  		  		  		  	
	 54.
	  		  		  		  	
	 55.
	  		  		  		  	
	 56.
	  		  		  		  	
	 57.
	  		  		  		  	
	 58.
	  		  		  		  	
	 59.
	  		  		  		  	
	 60.
	  		  		  		  	

  

  
 11 

 PART II 
 PRINCIPAL PAYMENTS 
  

									
	 Principal

Payment Date
	  	 Date of
Payment
	  	 Total Amount
of Principal

Payable
	  	 Total Amount

Paid
	  	 Confirmation of
payment by or
on
behalf of the Note Issuance
Trust

	 1.
	  		  		  		  	
	 2.
	  		  		  		  	
	 3.
	  		  		  		  	
	 4.
	  		  		  		  	
	 5.
	  		  		  		  	
	 6.
	  		  		  		  	
	 7.
	  		  		  		  	
	 8.
	  		  		  		  	
	 9.
	  		  		  		  	
	 10.
	  		  		  		  	
	 11.
	  		  		  		  	
	 12.
	  		  		  		  	

  
 12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}]]