South Financial (TSFG) 8-K Entry into a Material Definitive Agreement

Exhibit 10.1

Schedule of Nonemployee Director Compensation
(Effective January 1, 2006)

Standard Compensation
Board Member Standard Retainer	$	49,000
Board Meeting Fee (per meeting)	$	2,000
Committee Meeting Fee (per meeting)	$	1,500
Special Retainers
Lead Independent Director Retainer	$	50,000
Audit Committee Chairman Retainer	$	20,000
Risk Management Committee Chairman Retainer	$	15,000
Compensation Committee Chairman Retainer	$	15,000
Executive Committee Chairman Retainer	$	—
Nominating and Corporate Governance Committee Chairman Retainer	$	—

All retainers will be paid quarterly, with 60% paid in the form of fully vested stock grants and 40% paid in cash. Meeting fees will be paid in cash.