SECURITIES AND EXCHANGE
Pursuant to Section 13
or 15(d) of
December 7, 2004
Synovus Financial Corp.
|(State of Incorporation)||(Commission File Number)||(IRS Employer Identification No.)|
1111 Bay Avenue, Suite 500
Columbus, Georgia 31901
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|| |||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|| |||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Termination of a Material Definitive Agreement.
reported in Item 5.02 of this Form 8-K, James D. Yancey, Chairman of the Board of Synovus
Financial Corp. (Registrant), is retiring as an executive employee of
Registrant. Registrant and Mr. Yancey have mutually agreed to terminate Mr. Yanceys
employment under his Employment Agreement with Registrant effective December 31, 2004 in
conjunction with Mr. Yanceys retirement as an executive employee. Mr. Yancey was
paid a base salary of $614,000 during 2004 under the Employment Agreement. The Employment
Agreement provides that Mr. Yancey will receive an aggregate of $375,000 in deferred
compensation to be paid over a ten year period following his termination of employment and
will be subject to a covenant not to compete for two years. No termination penalties will
be incurred by Registrant in connection with the termination of Mr. Yanceys
employment under the Employment Agreement.
Departure of Directors or Principal Officers;
Election of Directors; Appointment of Principal Officers.
On December 7, 2004, Registrant announced the retirement of James D. Yancey,
Chairman of the Board of Registrant, as an executive employee effective December
31, 2004. Mr. Yancey will continue to serve as a director and as Chairman of the
Board of Registrant.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SYNOVUS FINANCIAL CORP.|
|Dated: December 8, 2004||By:/s/ Kathleen Moates|
| Kathleen Moates|
Senior Deputy General Counsel