EX-10.7 AGREEMENT IN CONNECTION WITH PERSONAL USE OF COMPANY AIRCRAFT
EX-10.7 2 g99901exv10w7.htm EX-10.7 AGREEMENT IN CONNECTION WITH PERSONAL USE OF COMPANY AIRCRAFT EX-10.7 AGREEMENT IN CONNECTION WITH PERSONAL USE
Exhibit 10.7
Effective February 28, 2006
SYNOVUS FINANCIAL CORP./TOTAL SYSTEM SERVICES, INC.
Personal Use of Company Aircraft
Personal Use of Company Aircraft
Key Executives are each allowed a maximum number of hours of personal use of company aircraft each calendar year as set forth below.
Personal use of company aircraft by Key Executives includes non-business flights upon which the Key Executive and his or her non-business guests are the only passengers aboard the aircraft and also includes non-business flights upon which the Key Executive is not aboard the aircraft but his or her non-business guests are the only passengers aboard the aircraft. Personal use must be scheduled when aircraft are not scheduled for business use.
Personal use of company aircraft is calculated using block hours, as opposed to flight hours, and includes deadhead legs.
For purposes of calculating the number of hours of personal use of company aircraft, each block hour of turbo-prop usage shall equal one hour of personal usage and each block hour of jet usage shall equal five hours of personal usage. Usage of less than whole hours shall be recorded proportionately. De minimis overages may be approved by Sanders Griffith to reflect unforeseen delays (such as traffic and weather delays) and other scheduling issues.
Personal use of company aircraft by Key Executives and their non-business guests is tracked and the value reported for tax purposes for the Key Executive.
The following Executives are designated as eligible for the indicated number of hours of personal use of company aircraft:
Synovus
Jim BlanchardSynovus Chairman30 hours of turbo-prop use/6 hours of jet use
Richard AnthonySynovus President and CEO-30 hours of turbo-prop use/6 hours of jet use
Sanders GriffithSynovus General Counsel20 hours of turbo-prop use/4 hours of jet use
Lee Lee JamesSynovus Vice Chairman20 hours of turbo-prop use/ 4 hours of jet use
Fred GreenSynovus Vice Chairman20 hours of turbo-prop use/4 hours of jet use
Tommy PrescottSynovus CFO20 hours of turbo-prop use/4 hours of jet use
TSYS
Phil TomlinsonTSYS Chairman and CEO30 hours of turbo-prop use/6 hours of jet use
Rick UsseryConsulting Agreement (expires on 6/30/06)20 hours of turbo-prop use/4 hours of jet use
Troy WoodsTSYS President and COO30 hours of turbo-prop use/6 hours of jet use
Bill PruettSenior Executive Vice President20 hours of turbo-prop use/4 hours of jet use
Ken TyeSenior Executive Vice President and CIO20 hours of turbo-prop use/4 hours of jet use
Jim LiphamSenior Executive Vice President and CFO20 hours of turbo-prop use/4 hours of jet use