Synovus Financial Corp. Board of Directors Compensation Policy (Effective April 21, 2016)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for members of the Board of Directors of Synovus Financial Corp. Effective April 21, 2016, directors receive annual cash retainers for board and committee service, additional retainers for committee chairs and the lead director, and an annual award of restricted stock units that vest after three years or when the director turns 72. Directors may also participate in a stock purchase plan with a company match. The policy specifies the amounts and conditions for each type of compensation.

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EX-10.1 2 snv-03312016xex101.htm EXHIBIT 10.1 Exhibit


Exhibit 10.1
SYNOVUS FINANCIAL CORP.
Board of Directors Compensation
(Effective April 21, 2016)
 
 
 
 
 
Cash Compensation
 
 
 
 
 
 
 
Annual Board Retainer
$
50,000
 
 
 
 
 
Annual Board Committee Member Retainers:
 
 
 
Audit Committee
$
15,000
 
Compensation Committee
$
10,000
 
Corporate Governance and Nominating Committee
$
10,000
 
Risk Committee
$
10,000
 
 
 
 
 
Annual Committee Chair Retainers:**
 
 
 
Audit Committee
$
15,000
 
Compensation Committee
$
10,000
 
Corporate Governance and Nominating Committee
$
10,000
 
Risk Committee 
$
10,000 
 
 
 
 
 
Annual Lead Director Retainer
$
20,000
 

 
**
Note: The committee chair will receive both an annual committee member retainer and an annual committee chair retainer.

Equity Compensation
 
 
 
 
 
 
 
An award of $55,000 in restricted stock units, which becomes fully vested and transferable upon the earlier to occur of the (x) completion of three years of service and (y) date the holder reaches age 72.
 
 
 
 
 
Director Stock Purchase Plan
 
 
 
 
 
 
 
Annual maximum company cash contribution per director participant to company-sponsored open market stock purchase plan, with company’s contribution equal to 15% of director participant’s cash contribution, subject to annual maximum contribution limit by director of $20,000
$
3,000