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                                                                 EXHIBIT 10.7(b)

                      AMENDMENT OF HOUSEHOLD INTERNATIONAL
                         DEFERRED FEE PLAN FOR DIRECTORS

     WHEREAS, Household International, Inc. (the "Company") maintains the
Household International Deferred Fee Plan for Directors (the "Plan"); and

     WHEREAS, the Plan has been amended on September 8, 1997 and September 1,
1999 and further amendment of the Plan is now deemed desirable;

     NOW, THEREFORE, pursuant to the power reserved to the Company under Section
18 of the Plan and resolutions adopted by the Board of Directors of the Company
on November 12, 2002, the Plan is hereby amended, effective as of March 28,
2003, in the following particulars:

     1. By adding the following new sentence at the end of Section 5 of the Plan

          "No deferral elections are permitted after March 28, 2003."

     2. By substituting the following for paragraph (2) of Section 7 of the
Plan:

          "(2) if the compensation is to be placed in the Stock Component, the
               amount elected to be deferred will be used to purchase units of
               Company Stock using the fair market value of such Company Stock
               on the date the compensation would otherwise be paid. For
               purposes of the Plan, the "fair market value" of one share or
               unit of Company Stock shall be the closing price on the London
               Stock Exchange of a share of such stock for the trading date
               preceding the respective determination date. The units of Company
               Stock have been converted from units of Household International,
               Inc. common stock to a right to receive HSBC Holdings plc
               ordinary shares and therefore Company Stock refers to either
               common stock of Household or ordinary shares of HSBC as
               appropriate. The Cash Component will be credited on each dividend
               payment date for the Company Stock with the aggregate cash
               dividend which would have been paid if the existing Company Stock
               were actual shares of the Company Stock."

     3. By substituting the following two sentences for the fourth sentence of
Section 9 of the Plan:

          "Deferred compensation and interest or dividends (including
          appreciation or loss) thereon will be payable in cash from the Cash
          Component or shares of Company Stock from the Stock Component either
          in a lump sum or in such number of quarterly or annual installments as
          the participant chooses, subject to the participant's right to change
          such method of distribution no

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          later than twelve months prior to the first date deferred compensation
          is to be paid. A participant may choose to receive an equivalent
          number of HSBC American depositary shares instead of Company Stock and
          any fraction of a share will be paid in cash."

                                            HOUSEHOLD INTERNATIONAL, INC.

                                            By:
                                                --------------------------------
                                                George A. Lorch
                                                Chair, Compensation Committee
                                                Dated: May 5, 2003

(Corporate Seal)

ATTEST:

By:
   ------------------------------
      Kenneth H. Robin
      Secretary

                                       2<PAGE>

                                                                 EXHIBIT 10.8(b)

              AMENDMENT OF HOUSEHOLD INTERNATIONAL DEFERRED PHANTOM
                            STOCK PLAN FOR DIRECTORS

     WHEREAS, Household International, Inc. (the "Company") maintains the
Household International Deferred Phantom Stock Plan for Directors (the "Plan");
and

     WHEREAS, the Plan has been amended on January 9, 1996, July 9, 1996,
January 14, 1997, September 8, 1997, and September 1, 1999 and further amendment
of the Plan is now deemed desirable;

     NOW, THEREFORE, pursuant to the power reserved to the Company under Section
16 of the Plan and resolutions adopted by the Board of Directors of the Company
on November 12, 2002, the Plan is hereby amended, effective as of March 28,
2003, in the following particulars.

     1. By adding the following new sentence at the end of Section 3 of the
Plan:

          "After March 28, 2003, there will be no additional deferrals of
          phantom stock units."

     2. By substituting the following for Section 6 of the Plan:

               "Section 6. Investment. The Account of each participant will have
          both a Stock Component and a Cash Component. Under the Plan, the units
          of phantom Household International, Inc. common stock credited to a
          participant's Account have been changed to a right to receive HSBC
          Holdings plc ordinary shares and comprise the Stock Component of the
          Account. Reference to Company Stock means either the Household common
          stock or the HSBC ordinary shares as appropriate. During the deferred
          period, the Cash Component of the Account will be credited on each
          dividend payment date for the Company Stock with the aggregate cash
          dividend which would have been paid if the existing Company Stock
          deemed to be credited to the Stock Component of the participant's
          Account were actual shares of Company Stock (the "Stock Dividend").
          These Stock Dividends will be invested in the Cash Component of the
          Account at a rate equal to the United States five-year treasury rate
          plus HFC's borrowing spread over that rate on the first day of each
          calendar quarter in which such interest is credited to the
          participant's Account with interest compounded quarterly."

     3. By substituting the following four sentences for the second sentence of
Section 7 of the Plan:

          "Except as provided in the following sentences of this Section 7, all
          deferred amounts to be paid to a participant pursuant to the Plan are
          to be

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          paid in shares of Company Stock with the value of the Company Stock
          being the fair market value of an equal number of shares of Company
          Stock on the date of payment. For purposes of the Plan, the "fair
          market value" of one share or unit of Company Stock shall be the
          closing price on the London Stock Exchange of a share of such stock
          for the trading date preceding the respective determination date. A
          fraction of a share and the amounts invested in the Cash Component of
          the Account will be paid in cash. A participant may choose to receive
          an equivalent number of HSBC American depositary shares instead of
          Company Stock and any fraction of a share will be paid in cash."

     4. By substituting the following sentence for the third sentence of Section
8 of the Plan:

          "Deferred Company Stock and dividends (including appreciation or loss)
          thereon will be payable either in a lump sum or in such number of
          quarterly or annual installments as the participant chooses up to a
          maximum ten-year period, subject to the participant's right to change
          such method of distribution no later than twelve months prior to the
          first date deferred Company Stock and dividends are to be paid."

                                            HOUSEHOLD INTERNATIONAL, INC.

                                            By
                                               ---------------------------------
                                               George A. Lorch
                                               Chair, Compensation Committee
                                               Dated: May 5, 2003

ATTEST:

-----------------------------
Kenneth H. Robin
Secretary

(CORPORATE SEAL)<PAGE>

                                                                 EXHIBIT 10.9(b)

                                 THIRD AMENDMENT
                                     OF THE
                      HOUSEHOLD INTERNATIONAL NON-QUALIFIED
                           DEFERRED COMPENSATION PLAN

          WHEREAS, Household International, Inc. (the "Company") maintains the
Household International Non-Qualified Deferred Compensation Plan (the "Plan");
and

          WHEREAS, the Plan has been amended and further amendment of the Plan
is now considered desirable;

          NOW, THEREFORE, pursuant to the power reserved to the Compensation
Committee of the Company under Section 17 of the Plan and resolutions adopted by
the Board of Directors of the Company on November 12, 2002, the Plan be and is
amended, effective as of March 28, 2003, by substituting the following for
Section 7 of the Plan:

               "Section 7. Investment. Each deferred compensation account will
          be credited with earnings and/or losses from the date on which
          deferred compensation would initially have been payable until the date
          of payment. Any amounts that are deferred after March 28, 2003 will be
          deemed invested in Fund B, the Treasury Fund. This Fund B shall be
          credited with interest at a rate equal to the United States five-year
          treasury rate plus HFC's borrowing spread over that rate on the first
          day of each calendar quarter with interest compounded quarterly. Prior
          to March 28, 2003, a participant could elect to have his deferred
          compensation account be a deemed investment in either Fund A or Fund
          B. Fund A was known as the Household International, Inc. Common Stock
          Fund and the value of this Fund A was measured by Household
          International, Inc. common shares, but the value of Fund A is now
          measured by HSBC Holdings plc ordinary shares and is known as the
          Company Stock Fund. Deferred compensation accounts that were invested
          in Fund A, the Company Stock Fund, can remain so invested but any
          future dividends on Company Stock attributable to that Fund A will be
          invested in Fund B.

               "The participant can change his or her investment election as to
          the amount already credited to his account from Fund A to Fund B, but
          not vice versa, on a quarterly basis by filing an appropriate election
          form with the Committee prior to the first day of the quarter in which
          the election is to be effective. There is no guarantee a participant's
          deferred compensation account invested in Fund A will increase;
          amounts may decrease based on the performance of Fund A."

                                               HOUSEHOLD INTERNATIONAL, INC.

                                               By
                                                  ------------------------------
                                                  George A. Lorch
                                                  Chair, Compensation Committee
                                                  Dated: May 5, 2003

ATTEST:

------------------------
Kenneth H. Robin
Secretary

(CORPORATE SEAL)

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