Document:

EX-10.1

 Exhibit 10.1 

MARKET RESTRICTED STOCK UNIT AGREEMENT 

THIS MARKET RESTRICTED STOCK UNIT AGREEMENT (“Agreement”) is made effective as of the grant date set forth below by and between
SYNOVUS FINANCIAL CORP., a Georgia corporation (the “Corporation”), and ___________________ (“Executive”). 
 WHEREAS,
Executive has been awarded Market Restricted Stock Units (“MRSUs”) under the Corporation’s 2013 Omnibus Plan (“Plan”). 

NOW, THEREFORE, in accordance with the provisions of the Plan and this Agreement, Executive hereby agrees to the following terms and
conditions: 
  

	1.	Grant of RSUs 

  

	    	Subject to the terms and conditions of the Plan and the additional terms and conditions set forth in this Agreement, the Company hereby grants to the Executive the opportunity to vest in Market Restricted Stock Unit
Awards, which shall vest and become nonforfeitable as determined in accordance with Section 2 herein (the “MRSUs”). An “MRSU” represents the right to receive one share of Common Stock. 

Executive is hereby granted MRSUs as follows: 
  

							
		  	Date of Grant:	 	_____________, 20___	 	
			
		  	Vesting Period:	 	Please refer to Section 2 of this Agreement
				
		  	Target MRSU Award:	 	_____________	 	

  

	2.	Vesting of RSUs 

  

	    	(a) Service Based Vesting Conditions. If Executive remains in the continuous employ of the Corporation or a Subsidiary of the Corporation through the date(s) indicated in Column I below (the “Service
Date”), the percentage of MRSUs that will become non-forfeitable (i.e., “vest”) is indicated in Column II below, with the number of MRSUs eligible to vest as of each Service Date to be determined using the formula set forth in
Section 2(b) below: 

  

							
		  	     (I)
	 	(II)	 	
		  	   If employment
 continues
through
   (Service Date)
	 	 then the % of the eligible

MRSUs which vest is 
	 	
				
		  	____________, 20__	 	___%	 	
				
		  	[or]	 		 	
				
		  	____________, 20__	 	___%	 	
				
		  	[or]	 		 	

  

  

							
				
		  	____________, 20__	 	___%	 	
				
		  	[or]	 		 	
				
		  	____________, 20__	 	___%	 	
				
		  	[or]	 		 	
				
		  	____________, 20__	 	___%	 	

  

	    	Such vesting will occur (to the extent indicated in Column (II) above and in Section 2(b) below) at the close of business on Service Date indicated in Column (I) above. Any MRSUs which are not vested on the
date of Executive’s termination of employment will be forfeited to the Corporation, unless the Compensation Committee in its sole and exclusive discretion determines otherwise. 

 

	    	(b) Total Shareholder Return Multiplier. The number of MRSUs eligible to vest as of each Service Date shall be calculated as follows as determined and approved by the Committee: the Target MRSU Award shall be
multiplied by the percentage set forth opposite each Service Date in Section 2(a) above, and the result shall be multiplied by the Total Shareholder Return Multiplier as defined herein. For purposes of this Agreement, the term “Total
Shareholder Return Multiplier” shall be defined as: (a) the average of the closing price of a Share on the New York Stock Exchange for the last 20 market trading days immediately preceding each Vesting Date, minus (b) the average of
the closing price of a Share on the New York Stock Exchange for the last 20 market trading days immediately preceding the date which is exactly one year prior to each Vesting Date (or, with respect to the initial Vesting Date, the average of the
closing price of a Share on the New York Stock Exchange for the last 20 market trading days immediately preceding the Grant Date) plus (c) the amount of dividends paid by the Corporation on a Share during the one-year period ending on each
Vesting Date, with the resulting amount of (a) minus (b) plus (c) being divided by (d) the average of the closing price of a Share on the New York Stock Exchange for the last 20 market trading days immediately preceding the date
which is exactly one year prior to each Vesting Date (or, with respect to the initial Vesting Date, the average of the closing price of a Share on the New York Stock Exchange for the last 20 market trading days immediately preceding the Grant Date);
provided, however, that the minimum Total Shareholder Return Multiplier shall be seventy-five percent (75%) and the maximum Total Shareholder Return Multiplier shall be one-hundred and twenty five percent (125%). 

 

	    	(c) Effect of Voluntary Termination or Termination for Cause or Suicide. If Executive’s employment with the Corporation and its Subsidiaries is terminated: (i) by Executive voluntarily or (ii) by
the Corporation or a Subsidiary for Cause or (iii) by Executive’s death due to suicide before all MRSUs vest pursuant to the provisions of paragraphs 2(a) and 2(b) above, then any MRSUs which are not vested at the time of such termination
will be forfeited to the Corporation on the date of such termination, unless the Compensation Committee in its sole and exclusive discretion determines otherwise. 

  
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	    	(d) Effect of Death (Other Than by Suicide) or Disability. If Executive’s employment with the Corporation and its Subsidiaries terminates by reason of Executive’s death (other than by suicide) or
Disability, then any MRSUs which are not vested at the time of such termination will become vested automatically as set forth in Section 2(g) below. 

  

	    	(e) Effect of [Retirement or] Leave of Absence. [If Executive’s employment with the Corporation and its Subsidiaries is terminated by reason of Executive’s retirement after attainment of [age __ and __
years of Service] [age __, then any RSUs which are not vested at the time of such retirement will become vested automatically as set forth in Section 2(g) below.] A leave of absence which is approved in writing by the Compensation Committee
with specific reference to this Agreement will not be considered a termination of Executive’s employment with the Corporation and its Subsidiaries for purposes of this Section 2 or any other provision of this Agreement. 

 

	    	(f) Change of Control. In the event of a Change of Control (as defined in the Plan), the MRSUs will vest immediately upon such Change of Control as provided in the Plan and as set forth in Section 2(g)
below; provided, however, that in the event the MRSUs are assumed by the surviving entity in a Change of Control or are equitably converted or substituted in connection with a Change of Control, the vesting of the MRSUs shall not be accelerated
unless the Executive’s employment is terminated within two years following the effective date of such Change of Control either by the surviving entity without Cause or by the Executive for Good Reason. For purposes of this Agreement,
“Cause” shall mean: (i) the willful and continued failure of Executive perform substantially his or her duties with the Corporation or one of its affiliates after a written demand for substantial performance is delivered to Executive
by an officer of the Corporation which specifically identifies the manner in which Executive has not substantially performed his or her duties, after which Executive shall have a reasonable amount of time to remedy such failure to substantially
perform his or her duties; or (ii) the willful engaging by Executive in illegal conduct or gross misconduct which is materially and demonstrably injurious to the Corporation. For purposes of this Agreement, “Good Reason” shall mean:
(i) a material adverse reduction in the Executive’s position, duties or responsibilities, excluding a change in the position or level of officer to whom the Executive reports or a change that is part of a policy, program, or arrangement
applicable to peer executives (including peer executives of any successor to the Corporation; (ii) the Corporation’s requiring the Executive to be based at any office or location more than 35 miles from the location where Executive was
employed on the effective date of the Change of Control Date or the date which is 120 days prior to the effective date of the Change of Control; or (iii) a material reduction in Executive’s annual base salary, target annual bonus
opportunity, or participation in employee benefit plans, as such salary, bonus and plans were in effect on either the effective date of the Change of Control or the date which is 120 days prior to the effective date of the Change of Control (if such
earlier date is selected by Executive) unless such reduction is part of a policy, program, or arrangement applicable to peer executives (including peer executives to any successor to Corporation). 

 

	    	(g) Vesting of MRSUs. Any MRSUs which vest pursuant to the provisions of Sections 2(d) through 2(f) shall be calculated by multiplying the percentage of the MRSUs which have not previously vested by the Target
MRSU Award without using the Total Shareholder Return Multiplier set forth in Section 2(b). Any MRSUs which vest pursuant to the preceding provisions of this Section 2 will not thereafter be forfeited. 

  
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	3.	Conversion of RSUs and Issuance of Shares 

  

	    	Upon vesting of the MRSUs, one Share of the Corporation’s Common Stock shall be issued for each MRSU that vests on such vesting date in accordance with Section 2, subject to the terms and conditions of this
Agreement and the Plan. 

  

	4.	Transfer of RSUs 

  

	    	Unless otherwise permitted by the Committee, the MRSUs may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than pursuant to a will or the laws of descent and distribution. Any
attempted disposition in violation of this Agreement and the Plan shall be void. 

  

	5.	Status of Executive 

  

	    	The Executive shall not be, or have rights as, a stockholder of the Corporation with respect to any of the shares of Common Stock subject to the MRSUs unless such MRSUs have vested, and shares underlying the MRSUs have
been issued and delivered to him or her. The Corporation shall not be required to issue or transfer any certificates for shares of Common Stock upon vesting of the MRSUs until all applicable requirements of law have been complied with and such
shares have been duly listed on any securities exchange on which the Common Stock may then be listed. 

  

	6.	Dividend Equivalents 

  

	    	The MRSUs will be credited with dividend equivalents equal to amount of cash dividend payments that would have otherwise been paid if the shares of the Corporation’s Common Stock represented by the actual number of
MRSUs which vest in accordance with the provisions of Section 2 above (including deemed reinvested additional shares attributable to the MRSUs determined pursuant to this paragraph) were actually outstanding. These dividend equivalents will be
deemed to be reinvested in additional shares of the Corporation’s Common Stock determined by dividing the deemed cash dividend amount by the Fair Market Value (as defined in the Plan) of a Share of the Corporation’s Common Stock on the
applicable dividend payment date. Such credited amounts will be added to the MRSUs and will vest or be forfeited in accordance with Section 2 based on the vesting or forfeiture of the initial MRSUs to which they are attributable. In addition,
the MRSUs will be credited with any dividends or distributions that are paid in shares of the Corporation’s Common Stock represented by the MRSUs and will otherwise be adjusted by the Committee for other capital or corporate events as provided
for in the Plan. 

  

	7.	General Provisions 

  

	    	 (a) Administration, Interpretation and Construction. The terms and conditions set forth in this Agreement will be administered, interpreted and
construed by the Compensation Committee, whose decisions will be final, conclusive and binding on the Corporation, on Executive and on anyone claiming under or through the Corporation or Executive. Without limiting the generality of the foregoing,
any determination as to whether an event has occurred or failed to occur which causes the MRSUs to be forfeited pursuant to the terms and conditions set forth in this Agreement, will be made in the good faith but absolute discretion of the
Compensation Committee. By accepting the 

  
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transfer of MRSUs, Executive irrevocably consents and agrees to the terms and conditions set forth in this Agreement and to all actions, decisions and determinations to be taken or made by the
Compensation Committee in good faith pursuant to the terms and conditions set forth in this Agreement. 

  

	    	(b) Withholding. The Corporation will have the right to withhold from any payments to be made to Executive (whether under this Agreement or otherwise) any taxes the Corporation determines it is required to
withhold with respect to Executive under the laws and regulations of any governmental authority, whether Federal, state or local and whether domestic or foreign, in connection with this Agreement, including, without limitation, taxes in connection
with the transfer of RSUs or the lapse of restrictions on MRSUs. Failure to submit any such withholding taxes shall be deemed to cause otherwise lapsed restrictions on MRSUs not to lapse. 

 

	    	(c) Rights Not Assignable or Transferable. No rights under this Agreement will be assignable or transferable other than by will or the laws of descent and distribution, either voluntarily, or, to the full extent
permitted by law, involuntarily, by way of encumbrance, pledge, attachment, levy or charge of any nature except as otherwise provided in this Agreement. Executive’s rights under this Agreement will be exercisable during Executive’s
lifetime only by Executive or by Executive’s guardian or legal representative. 

  

	    	(d) Terms and Conditions Binding. The terms and conditions set forth in the Plan and in this Agreement will be binding upon and inure to the benefit of the Corporation, its successors and assigns, including any
assignee of the Corporation and any successor to the Corporation by merger, consolidation or otherwise, and Executive, Executive’s heirs, devisees and legal representatives. In addition, the terms and conditions set forth in the Plan and in
this Agreement will be binding upon and inure to the benefit of Fidelity and its successors and assigns. 

  

	    	(e) No Employment Rights. No provision of this Agreement or the Plan will be deemed to confer upon Executive any right to continue in the employ of the Corporation or a Subsidiary or will in any way affect the
right of the Corporation or a Subsidiary to dismiss or otherwise terminate Executive’s employment at any time for any reason with or without cause, or will be construed to impose upon the Corporation or a Subsidiary any liability for any
forfeiture of MRSUs which may result under this Agreement if Executive’s employment is so terminated. 

  

	    	(f) No Liability for Good Faith Business Acts or Omissions. Executive recognizes and agrees that the Compensation Committee, the Board, or the officers, agents or employees of the Corporation and its
Subsidiaries, in their oversight or conduct of the business and affairs of the Corporation and its Subsidiaries, may in good faith cause the Corporation or a Subsidiary to act, or to omit to act, in a manner that may, directly or indirectly, prevent
the MRSUs from vesting. No provision of this Agreement will be interpreted or construed to impose any liability upon the Corporation, a Subsidiary, the Compensation Committee, Board or any officer, agent or employee of the Corporation or a
Subsidiary, for any forfeiture of MRSUs that may result, directly or indirectly, from any such action or omission. 

  

	    	 (g) Recapitalization. In the event that Executive receives, with respect to RSUs, any securities or other property (other than cash dividends)
as a result of any stock dividend 

  
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or split, spin-off, recapitalization, merger, consolidation, combination or exchange of shares or a similar corporate change, any such securities or other property received by Executive will
likewise be held by Fidelity and be subject to the terms and conditions set forth in this Agreement and will be included in the term “MRSUs.” 
  

	    	(h) Appointment of Agent. By accepting the transfer of MRSUs, Executive irrevocably nominates, constitutes, and appoints Fidelity as Executive’s agent for purposes of surrendering or transferring the MRSUs
to the Corporation upon any forfeiture required or authorized by this Agreement. This power is intended as a power coupled with an interest and will survive Executive’s death. In addition, it is intended as a durable power and will survive
Executive’s disability. 

  

	    	(i) Legal Representative. In the event of Executive’s death or a judicial determination of Executive’s incompetence, reference in this Agreement to Executive shall be deemed, where appropriate, to
Executive’s heirs or devises. 

  

	    	(j) Titles. The titles to sections or paragraphs of this Agreement are intended solely for convenience and no provision of this Agreement is to be construed by reference to the title of any section or paragraph.

  

	    	(k) Plan Governs. The MRSUs are being transferred to Executive pursuant to and subject to the Plan, a copy of which is available upon request to the Corporate Secretary of the Corporation. The provisions of the
Plan are incorporated herein by this reference, and all capitalized terms in this Agreement shall have the same meanings given to such terms in the Plan. The terms and conditions set forth in this Agreement will be administered, interpreted and
construed in accordance with the Plan, and any such term or condition which cannot be so administered, interpreted or construed will to that extent be disregarded. 

 

	    	(l) Complete Agreement. This instrument contains the entire agreement of the parties relating to the subject matter of this Agreement and supersedes and replaces all prior agreements and understandings with
respect to such subject matter. The parties hereto have made no agreements, representations or warranties relating to the subject matter of this Agreement which are not set forth herein or incorporated by reference. 

 

	    	(m) Amendment; Modification; Waiver. No provision set forth in this Agreement may be amended, modified or waived unless such amendment, modification or waiver shall be authorized by the Compensation Committee and
shall be agreed to in writing, signed by Executive and by an officer of the Corporation duly authorized to do so. No waiver by either party hereto of any breach by the other party of any condition or provision set forth in this Agreement to be
performed by such other party will be deemed a waiver of a subsequent breach of such condition or provision, or will be deemed a waiver of a similar or dissimilar provision or condition at the same time or at any prior or subsequent time.

  

	    	(n) Governing Law. The validity, interpretation, performance and enforcement of the terms and conditions set forth in this Agreement will be governed by the laws of the State of Georgia, the state in which the
Corporation is incorporated, without giving effect to the principles of conflicts of law of that state. 

  
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 The Corporation has issued the MRSUs in accordance with the foregoing terms and conditions and in
accordance with the provisions of the Plan. By signing below, Executive hereby agrees to the foregoing terms and conditions of the MRSUs. 

IN WITNESS WHEREOF, Executive has set Executive’s hand and seal, effective as of the date and year set forth above. 

  
 7EX-10.22.1

 Exhibit 10.22.1 

AMENDMENT NUMBER ONE TO 

LOAN AND SECURITY AGREEMENT 

This Amendment Number One to Loan and Security Agreement, dated as of September 19, 2013 (“Amendment”), amends that
certain Loan and Security Agreement, dated as of September 24, 2010 (as amended, supplemented and restated from time to time, the “Loan Agreement”) (all capitalized terms used in this amendment shall have the meanings ascribed
thereto in the Loan Agreement unless specifically defined herein), by and among GROCERS CAPITAL COMPANY, a California corporation (“Borrower”), the Lenders party thereto and CALIFORNIA BANK & TRUST, a California banking
corporation, in its capacity as arranger and administrative agent for the Lenders (together with its successors and assigns in such capacity, “Agent”), with respect to the following facts: 

A.    The Borrower and Lenders wish to amend the Loan Agreement pursuant to the terms and provisions set forth in this
amendment; and 
 B.    The parties hereto agree as follows: 

ARTICLE I 
 AMENDMENTS

 1.1    Amendments to Loan Agreement. 

(a) Subsection (g) of the definition of Eligible Notes Receivable in Section 1.1 of the Loan Agreement is hereby amended and
restated in its entirety to read as follows: 
 “(g) Notes Receivable with respect to which the Customer is (i) an officer,
employee or agent of Borrower, in each case except in its capacity as a Unified Patron or (ii) a Subsidiary or Affiliate of Borrower or Parent, or (iii) shareholder (except in its capacity as a Unified Patron) or director (except in its
capacity as a Unified Patron) of Borrower, except (A) short-term loans made by Borrower to Parent from proceeds of Advances no more than twice each fiscal month and only for liquidity purposes, so long as both such loans are repaid within a
combined 10 Business Day period (“Short Term Parent Loans”), and (B) the existing real estate loan to Unified Grocers Insurance Services in the principal amount of $3,000,000;” 

(b)    The definition of Maturity Date in Section 1.1 of the Loan Agreement is hereby amended and restated in
its entirety to read as follows: 
 “Maturity Date” means March 24, 2014. 

(c)    The option to convert Advances into Term Loans under Section 2.2 of the Loan Agreement is hereby
deleted, and Section 2.2 is hereby amended and restated in its entirety to read as set forth below. Notwithstanding anything to the contrary in the Loan Agreement, the principal amount of all outstanding Advances, together with accrued
and unpaid interest thereon, shall be due and payable in full on the Maturity Date. 

 “2.2 Reserved.” 

ARTICLE II 

MISCELLANEOUS 

2.1    Conditions Precedent. The effectiveness of this Amendment, including the waiver contained herein, is
expressly conditioned upon the receipt by Agent of the following: 
 (a) an original of this Amendment duly executed by Borrower; and 

(b) such other agreements and documents as Agent may require in connection with the transactions contemplated hereunder, all in form and
substance satisfactory to Agent in its sole and absolute discretion. 
 2.2    Ratification. 

(a)    Except as specifically amended hereinabove, the Loan Agreement shall remain in full force and effect and is hereby
ratified and confirmed; and 
 (b)    Upon the effectiveness of this Amendment, each reference in the Loan Agreement to
“this Agreement”, “hereunder”, “herein”, “hereof” or words of like import referring to the Loan Agreement shall mean and be a reference to the Loan Agreement as amended by this Amendment. 

2.3    Representations and Warranties. Borrower represents and warrants as follows: 

(a)    Each of the representations and warranties contained in Section 5 of the Loan Agreement is hereby
reaffirmed as of the date hereof (except to the extent that such representations and warranties relate solely to an earlier date), each as if set forth herein; 

(b)    The execution, delivery and performance of this Amendment are within Borrower’s corporate powers, have been
duly authorized by all necessary corporate action, have received all necessary approvals, if any, and do not contravene any law or any contractual restriction binding on Borrower; 

(c)    This Amendment is the legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance
with its terms; 
 (d)    That in entering into this Amendment, Borrower has not relied on any representation, promise,
understanding or agreement, oral or written, of, by or with, Agent or any Lender or any of their respective agents, employees, or counsel, except the representations, promises, understandings and agreements specifically contained in or referred to
in the Loan Agreement, as amended hereby; and 

  
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 (e)    No event has occurred and is continuing or would result from this
Amendment, which constitutes an Event of Default under the Loan Agreement, or would constitute an Event of Default but for the requirement that notice be given or time elapse or both. 

2.4    Entire Agreement. The Loan Agreement, as amended hereby, embodies the entire agreement and understanding
between the parties hereto and supersedes all prior agreements and understandings relating to the subject matter hereof. 

2.5    Conflicting Terms. In the event of a conflict between the terms and provisions of this Amendment and the
terms and provisions of the Loan Agreement, the terms of this Amendment shall govern. In all other respects, the Loan Agreement, as amended and supplemented hereby, shall remain in full force and effect. 

2.6    Miscellaneous. This Amendment shall be governed by and construed in accordance with the laws of the State of
California. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one agreement, and any party hereto may execute this Amendment by signing such counterpart. 

[SIGNATURES ON FOLLOWING PAGE] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this amendment to be duly executed by their
respective officers thereunto duly authorized as of the date first above written. 
  
  

			
	BORROWER
	
	 GROCERS CAPITAL COMPANY, 
 a
California corporation

		
	By:	 	/s/ Mark Speiser

 
			
	Name:	 	Mark Speiser

 
			
	Title:	 	Vice President

  

			
	AGENT AND LENDERS
	
	 CALIFORNIA BANK & TRUST, 

as Agent and a Lender

		
	By:	 	/s/ Armine Petrosyan

 
			
	Name:	 	Armine Petrosyan

 
			
	Title:	 	Vice President

  

			
	 NCB, FSB, 
 as a
Lender

		
	By:	 	/s/ Michael J. Novak

 
			
	Name:	 	Michael J. Novak

 
			
	Title:	 	Sr. Vice President

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