I don't fully agree with narcissist, but agree with the sentiment in terms of power (Groveling). Don doesn't care about money, Don cares about power. The first 20 years of his life were completely powerless; and as he said in the first season "maybe I'm just not as comfortable being powerless as you". Do you remember when Pete had Don over a barrel? And Don was willing to toss not only his career, but his freedom, his kids, his family away just to give Pete the finger and tell him he won't be powerless? He'd rather have watched it ALL burn to the ground, than accept even the most minor capitulation.
Don cares about power; he cares about being in control of his own destiny. If you notice in the episode before, there were all kind of allusions about destiny (Petes girlfriend talks about how sales people need to take their sales from the hands of others and they aren't really in control). The episodes thus far have all been about power and power plays; Peggy attempting to get her idea passed Lou and Lou regecting a good idea just to stake out his territory. Or Cutler vs Roger, or even how Cutler promoted Joan so he could gain allies. Power plays.
It's not about money; it's about power. And Don agreed to essentially go from a very strong position, to a weak one where he has to be the one grovelling before a hack like Lou. Don agreed to give up ALL of his power; the few things that allow him to have people grovel, all for what? Control? What control though? Lou is going to be in control.
You see why this doesn't make sense to me? I never once thought it was about money; Don's turned down millions before, and gambled millions on ridiculous risk. He's always not understood money, or how people worry over it (And two people have died due to it). Everything I didn't understand from the board meeting was about how much power Don just frittered away so meekly. It was just such a 180; and yes, some of it I agree with sincere character growth--my problem was just the sheer amount. Like I said, had they asked for less capitulations, I could have seen it; but they essentially asked him to lube up and told him if he so much as winces they win.