The final king is Panfilo. As the theme for the last day of storytelling, he selects “those who have performed liberal or munificent deeds” (1028).

The first storyteller is Neifile. In Spain, a knight named Ruggieri complains to the King that rewards are given to people who have “done nothing to deserve them” (1029) rather than deserving people (like himself). Ruggieri decides to go home so the King gifts him a mule. On the way home, however, the mule becomes stubborn and obnoxious, compelling Ruggieri to liken it to the King. A servant traveling with Ruggieri reports Ruggieri’s experience to the King, who invites the knight back to his court. The King listens to Ruggieri, but explains that the knight is simply unlucky. Rewards, the King claims, are not his responsibility. To illustrate his point, the King calls on his servants to bring forth “two large chests” (1031). One chest contains gems and jewels, the other contains only dirt. Both are sealed shut. The King tells Ruggieri to select one of the mysterious chests as his reward. Ruggieri selects a chest, which is opened to reveal nothing but dirt. The King awards Ruggieri the chest of gems as a reward for his services as a knight and to push back against the power of fate.