Summary of Board of Directors Compensation for Synovus Financial Corp. (Effective January 1, 2012)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for the Board of Directors of Synovus Financial Corp., effective January 1, 2012. Directors receive annual cash retainers for board and committee service, with additional amounts for committee chairs and the lead director. Equity awards are at the discretion of the Corporate Governance and Nominating Committee, but none were granted in 2009, 2010, or 2011. Directors may also participate in a stock purchase plan, where the company matches 50% of the director's contribution up to $10,000 per year.

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EX-10.34 4 snv_exhibit1034x12312011.htm SUMMARY OF BOARD OF DIRECTORS COMPENSATION SNV_Exhibit 10.34_12.31.2011


Exhibit 10.34

SYNOVUS FINANCIAL CORP.
Board of Directors Compensation
(Effective January 1, 2012)
 
 
 
 
 
 
Cash Compensation
 
 
 

 
 
 
 
 

 
Annual Board Retainer
 
$
40,000

 
 
 
 
 

 
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
 
$
5,000

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

 
 
 
 
 
Equity Compensation
 
 
 

 
 
 
 
 
 
At the discretion of the Corporate Governance and Nominating Committee - no equity awards were made in 2009, 2010 or 2011.
 
 
 
 
 
 

 
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 50% of director participant's cash contribution, subject to annual maximum contribution limit by director of $20,000
 
$
10,000