Synovus Financial Corp. Board of Directors Compensation Policy (Effective April 24, 2014)
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Summary
This document outlines the compensation policy for the Board of Directors of Synovus Financial Corp., effective April 24, 2014. Directors receive annual cash retainers for board and committee service, additional retainers for committee chairs and the lead director, and an annual equity award in restricted stock units that vests after three years or when the director turns 72. Directors may also participate in a stock purchase plan with a company match of up to $3,000 per year. The policy details the amounts and conditions for each type of compensation.
EX-10.35 3 snv_exhibit1035x12312014.htm EXHIBIT 10.35 SNV_Exhibit 10.35_12.31.2014
Exhibit 10.35
SYNOVUS FINANCIAL CORP.
Board of Directors Compensation
(Effective April 24, 2014)
Cash Compensation | ||||
Annual Board Retainer | $ | 45,000 | ||
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 | $ | 10,000 | ||
** Note: The committee chair will receive both an annual committee member retainer and an annual committee chair retainer | ||||
Equity Compensation | ||||
An award of $40,000 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 | ||
