Exhibit 10.1
AMENDMENT NUMBER ONE TO
SYNOVUS FINANCIAL CORP./TOTAL SYSTEM SERVICES, INC.
DEFERRED COMPENSATION PLAN
THIS Amendment to the Synovus Financial Corp./Total System Services, Inc. Deferred Compensation Plan (“Plan”) is adopted by Synovus Financial Corp., effective as of July 8, 2005.
1.
A new paragraph “G” is added to Section V of the Plan, as follows: |
“G. Plan Mergers. From time to time, other non-qualified deferred compensation plans may be merged into the Plan. All Accounts resulting from such merged plans will be 100% vested as of the date of merger. A list of merged plans, together with any special terms and conditions adopted in connection with the merger, is attached to the Plan as Exhibit “A.”
2.
A new Exhibit “A” is added to the end of the Plan, as follows: |
Exhibit “A”
Merged Plans
Plan’s Name | | Date of Merger | | Terms and Conditions |
Vital Processing Services, LLC
Deferred Retention Compensation Plan | | July 8, 2005 | | New distribution elections permit-
ted until 7/31/05 for participants
who have not separated from service (separated participants Stephen Swope will be paid in a lump sum in August of 2005 and Glen Hunter will be paid in May of 2006). New distribution elections may be made for 1-15 years and on annual or monthly basis; other distribution provisions governed by Synovus Plan. Contribution elections grandfathered (including elections for percentages and specific dollar amounts) so long as compliant with Internal Revenue Code Section 409A. |
| | | | |
3.
Except as amended herein, the Plan shall continue in full force and effect. |
IN WITNESS WHEREOF, this amendment is hereby adopted as of the date indicated above.
Title: Senior Vice President |
