Synovus Financial Corp. Board of Directors Compensation Policy (as amended)
This document outlines the compensation structure for the Board of Directors of Synovus Financial Corp. It specifies annual cash retainers for board and committee service, additional compensation for chair and lead director roles, and details about office and administrative support for certain positions. Equity compensation is at the discretion of a committee, with no awards made in 2009 or 2010. Directors may also participate in a stock purchase plan, with the company matching 50% of their contributions up to $10,000 per year.
EXHIBIT 10.1
SYNOVUS FINANCIAL CORP.
Board of Directors Compensation
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 | $ | 7,500 | ||||
| Executive Committee | $ | 10,000 | ||||
| Annual Board Chair Retainer1 | $ | 110,000 | ||||
| Annual Committee Chair Retainers:2 | ||||||
| Audit Committee | $ | 15,000 | ||||
| Compensation Committee | $ | 10,000 | ||||
| Corporate Governance and Nominating Committee | $ | 7,500 | ||||
| Executive Committee3 | $ | 15,000 | ||||
| Annual Lead Director Retainer | $ | 5,000 | ||||
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| 1In addition, the Board Chair shall be provided with an office and administrative support for the duration of his tenure. The Board Chair does not receive any other compensation for his service on the Board or any of its committees. | ||||||
| 2The committee chair will receive both an annual committee member retainer and annual committee chair retainer. | ||||||
| 3In addition, the Executive Committee Chair shall be provided with an office and administrative support for a period through October 2011. | ||||||
| Equity Compensation | ||||||
| At the discretion of the Corporate Governance and Nominating Committee – no equity awards were made in 2009 or 2010. | ||||||
| Director Stock Purchase Plan | ||||||
| Annual maximum company cash contribution per director participant to company-sponsored open market stock purchase plan, with company’s contribution to 50% of director participant’s cash contribution, subject to annual maximum contribution limit by director of $20,000. | $ | 10,000 | ||||
