Total System Services, Inc. Board of Directors Compensation Summary (Effective February 1, 2007)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for the Board of Directors of Total System Services, Inc., effective February 1, 2007. Directors receive annual cash retainers for board and committee service, additional retainers for committee chairs and the lead director, and an annual grant of 500 restricted stock shares with a three-year vesting period. Directors may also participate in a stock purchase plan, with the company matching 50% of the director's contribution up to $10,000 per year. Employee directors do not receive equity awards under this plan.

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EX-10.21 2 g05204exv10w21.htm EX-10.21 SUMMARY OF BOARD OF DIRECTORS COMPENSATION EX-10.21 SUMMARY OF BOARD OF DIRECTORS COMPENSATIO  

Exhibit 10.21
TOTAL SYSTEM SERVICES, INC.
Board of Directors Compensation
Approved January 24, 2007
     Upon the recommendation of the Corporate Governance and Nominating Committee, the Board of Directors of Total System Services, Inc. approved modifications to the compensation to be paid to directors effective February 1, 2007, as set forth below:
         
Cash Compensation        
 
        
Annual Board Retainer
   $ 40,000  
 
        
Annual Committee Member Retainers
        
Audit Committee
   $ 15,000  
Compensation Committee
   $ 10,000  
Corporate Governance and Nominating Committee
   $ 7,500  
Executive Committee
   $ 10,000  
 
        
Annual Committee Chair Retainers*
        
Audit Committee
   $ 15,000  
Compensation Committee
   $ 10,000  
Corporate Governance and Nominating Committee
   $ 7,500  
 
        
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        
Annual restricted stock award (in the form of a grant from the TSYS 2002 Long-Term Incentive Plan, 3 year cliff vesting)
   500 shares
No equity awards to employee directors
         
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