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