Document:

Employee Stock Purchase Plan

  
 Exhibit 10.1

 SYNOVUS FINANCIAL CORP. 
 EMPLOYEE STOCK PURCHASE PLAN 
 AMENDED AND RESTATED EFFECTIVE JANUARY 1,
2010 
 The name of this plan is the Synovus Financial Corp. Employee Stock Purchase Plan (the “Plan”). The
purpose of the Plan is to enable Synovus and its subsidiaries to provide their employees a convenient means of purchasing, by means of voluntary payroll deductions and 50% matching contributions from the Participating Employers, shares of Synovus
Common Stock on the open market, and to thereby promote interest in its success and growth and to encourage continuity of employment among its employees. 
 ARTICLE I 
 DEFINITIONS 

A. Affiliate of Synovus: Subsidiaries of Synovus. 
 B. Agent: BNY Mellon Shareowner Services and any duly appointed successor Agent of the Plan. 
 C. Beneficiary Designation Election: The election which a Participant makes to designate the Participant’s beneficiary to receive his or her interest in the Plan in the event of
Participant’s death prior to receipt thereof. 
 D. Company: Synovus Financial Corp. 

E. Compensation: The base salary or wages paid to a Participant by a Participating Employer, including commissions for those
Participants who are paid solely on the commission basis (unless a Participant’s written Employment Agreement (if any) 

  
 1 

 
with Synovus or any affiliate company of Synovus establishes a contractual limitation for such Participant, in which case “Compensation” for such Participant would be as defined in such
written Employment Agreement), but excluding bonuses, incentive bonuses, overtime pay or amounts contributed by a Participating Employer to this or any other non-qualified plan or trust, to any qualified plan or trust within the meaning of Sections
401(a) and 501 of the Internal Revenue Code of 1986, as amended (the “Code”), including, but not limited to, the Synovus Profit Sharing, 401(k) Savings and Money Purchase Pension Plans, or such other qualified employee benefit, fringe
benefit or welfare benefit plan Synovus or a Participating Employer may hereafter adopt. 
 F. Deduction Date: The
payroll date upon which bi-weekly Participant payroll deductions and bi-weekly Participating Employer contributions to the Plan shall be made. 
 G. Effective Date of the Plan: October 15, 1984. 
 H. Eligible
Employee: Any employee of a Participating Employer who has been regularly scheduled to work twenty (20) hours per week or more for any Participating Employer for a period of ninety (90) calendar days or more. Employment includes
authorized leaves of absence and all uninterrupted periods of employment by one or more Participating Employers. 
 I. First
Deduction Date: The first Deduction Date of an Eligible Employee following ninety (90) calendar days of employment. 

J. Participant: An Eligible Employee who shall have become a Participant in the Plan by making a Payroll Deduction Authorization
Election and (i) whose participation in the Plan shall not have been terminated in accordance with Article XIII or XIV of the Plan, or (ii) who shall have been reinstated as a Participant in the Plan in accordance with Article II of the
Plan. 

  
 2 

  
 K. Participating
Employer: Synovus or any Affiliate of Synovus which has elected to participate in the Plan. 
 L. Payroll Deduction
Authorization Election: The election which each Eligible Employee must make to become a Participant or to change participation in the Plan, whether such election is made telephonically, electronically or otherwise as authorized by Synovus. This
election shall contain, in addition to other pertinent payroll deduction information, the Participant’s appointment of the Agent to provide for the acquisition of Synovus Common Stock for his or her benefit under the Plan. 

M. Plan: The Synovus Financial Corp. Employee Stock Purchase Plan (As Amended and Restated). 

N. Plan Year: The period commencing on January 1st of each year and ending on December 31st of each year. 

O. Stock Share Account: The separate account which is required to be established and maintained with respect to each Participant
for the purpose of recording Synovus Common Stock purchased and allocated for the Participant under the Plan. 
 P.
Synovus: Synovus Financial Corp., the sponsor and administrator of the Plan. 
 Q. Synovus Common Stock: The
shares of common stock of the par value of $1.00 per share of Synovus, and any shares which may be issued and exchanged for or upon a change of such shares whether in subdivision or in combination thereof and whether as a part of a classification or
reclassification thereof, or otherwise. 

  
 3 

  
 ARTICLE II 

PARTICIPATION 
 Any Eligible Employee of a Participating Employer may initially become a Participant in the Plan by making a Payroll Deduction Authorization Election to do so. 

An Eligible Employee of a Participating Employer whose participation in the Plan has been terminated pursuant to Article XIII of the Plan
may reinstate his or her participation in the Plan by making a new Payroll Deduction Authorization Election to do so. 
 ARTICLE
III 
 PARTICIPANT PAYROLL DEDUCTIONS 
 Participants may contribute to the Plan only through Participant payroll deductions. Participant payroll deductions shall be made as a percentage of Compensation. Participant payroll deductions may not be
less than one percent of a Participant’s Compensation, and the maximum deduction may not exceed the maximum percentage of Compensation limitations set forth hereinbelow, except that Participants who are paid solely on the commission basis shall
be allowed to contribute to the Plan only by Participant payroll deductions based on a percentage of Compensation. 
 The
maximum percentage of Compensation for Participant payroll deductions shall be based on the following: 
  

	 	(a)	The Participant’s Compensation; and 

  

	 	(b)	The Participant’s period of employment with a Participating Employer during which period the Participant has been regularly scheduled to work twenty
(20) hours per week or more, according to the following schedule: 

  

			
	 Participant’s Period of Employment
	  	Maximum Percentage of
Compensation for Participant
Payroll Deductions
	 At least three months, but less than one year
	  	3%
	 At least one year, but less than five years
	  	5%
	 At least five years, but less than ten years
	  	6%
	 Ten years or more
	  	7%

  
 4 

  
 A Participant with no
service breaks that exceed twelve (12) months shall be given credit for all of his or her periods of employment with one or more Participating Employers for the purpose of determining the maximum percentage of Compensation for the
Participant’s payroll deduction, including, but not limited to, (i) a transfer of employment from one Participating Employer to another Participating Employer and (ii) all previous periods of employment with any Participating Employer
by an Eligible Employee. A Participant who has a break in service which exceeds twelve (12) months shall not receive credit for employment prior to such break in service. 
 If a Participant’s employment is transferred to an Affiliate of Synovus which is not a Participating Employer, such Participant shall receive credit for any amounts previously contributed to his or
her Stock Share Account on behalf of the Participant; however, such Participant’s participation in the Plan shall be suspended during the period of his or her employment by such non-participating Affiliate of Synovus. Such Participant shall
continue to receive dividends, stock splits, voting rights, and any other such benefit afforded through ownership of Synovus Common Stock received under the Plan. 
 Participant payroll deductions shall be made only on Deduction Dates. 
 A
Participant may increase, decrease or temporarily suspend his or her Participant payroll deductions by making a Payroll Deduction Authorization Election. Such increase, decrease or temporary suspension will be effective as promptly as practicable.
Participant payroll deductions may be terminated pursuant to Article XIII hereof. As promptly as practicable on or after each Deduction Date, each Participating Employer shall remit each Participant’s payroll deduction to the Agent of the Plan.

  
 5 

  
 ARTICLE IV 

PARTICIPATING EMPLOYER CONTRIBUTIONS 
 Participating Employers shall make contributions to the Plan for each of their employees who are Participants in the Plan equal to fifty percent (50%) of the amount of each such Participant’s
payroll deduction to the Plan. 
 Participating Employer contributions shall be made on Deduction Dates. As promptly as
practicable on or after each Deduction Date, Participating Employers will remit their contributions to the Administrator of the Plan. 
 As Participating Employer contributions to the Plan must be treated by the Participants for whom such contributions are made as compensation income, such amounts will be reflected on the payroll voucher
of such Participants as additional compensation income paid by the Participating Employers to such Participants, and such amounts will in turn appear on the payroll vouchers of such Participants as having been withheld from their pay by the
Participating Employers to reflect the Participating Employers’ contributions made to the Plan for the benefit of such Participants, and the Participating Employers shall withhold additional State and Federal income taxes and Social Security
taxes from the pay of such Participants to cover such amount, all at the times Participant payroll deductions are withheld. This information will be included in the Form W-2 furnished annually by the Participating Employers to Participants in the
Plan. 

  
 6 

  
 ARTICLE V 

ADMINISTRATION OF PLAN 
 The Plan shall be administered by Synovus, with assistance from each of the Participating Employers. Synovus may, from time to time, adopt rules and regulations not inconsistent with the Plan for carrying
out the Plan or for providing for any and all matters not specifically covered herein. 
 The functions and duties of Synovus as
Administrator of the Plan, in general, are as follows: 
  

	 	(a)	To make provision for payment of contributions to the Agent of the Plan. 

  

	 	(b)	To establish rules for the administration and to construe the terms of the Plan, including, but not limited to, the discretionary authority to determine eligibility for
participation in the Plan, a Participant’s Period of Employment and the maximum percentage of Compensation for Participant payroll deductions, which rules for administration and construction of terms will apply to all Participants similarly
situated. 

  

	 	(c)	To develop rules and procedures for making Participant elections or changes in connection with the Plan. 

 

	 	(d)	To maintain, with the assistance of the Agent, records, including, but not limited to, those with respect to Participating Employer contributions, Participant payroll
deductions and dividends paid to the Agent. 

  

	 	(e)	To file with the appropriate governmental agencies any and all reports and notifications required of the Plan and to provide all Participants and beneficiaries with any
and all reports and notifications to which they are by law entitled. 

  
 7 

  

	 	(f)	To engage a certified public accountant to perform an annual audit of the Plan. 

 

	 	(g)	To give prompt notification to the Agent of the Plan of the effectiveness, and the initiation of proceedings which would result in the termination of effectiveness, of
the registration, exemption or qualification of the Plan and/or the Synovus Common Stock offered thereunder under applicable federal and state securities laws. 

 

	 	(h)	To receive and to promptly forward to the Agent of the Plan the written requests of Participants for the issuance to any third party of shares or cash, if applicable,
for all or part of the full number of shares of Synovus Common Stock in such Participants’ Stock Share Accounts. 

  

	 	(i)	To perform any and all other functions reasonably necessary to administer the Plan. 

Synovus shall indemnify each employee of Synovus and the Participating Employers involved in the administration of the Plan against all
costs, expenses and liabilities, including attorney’s fees, incurred in connection with any action, suit, or proceeding instituted against such employee alleging any act or omission or commission performed by such employee while acting in good
faith in discharging his or her duties with respect to the Plan. This indemnification is limited to the extent such costs and expenses are not covered under insurance as may be now or hereafter provided by Synovus or the appropriate Participating
Employer. 

  
 8 

  
 ARTICLE VI 

AGENT OF THE PLAN 
 The Agent of the Plan shall be BNY Mellon Shareowner Services and any duly appointed successor Agent of the Plan. 
 The Agent of the Plan shall receive all contributions made by the Participating Employers and Participants in cash only. All contributions so received (hereinafter referred to as the “Fund”),
shall be held, managed, and administered pursuant to the terms of the Plan. No part of the Fund shall be used for or diverted to purposes other than for the exclusive benefit of the Participants and former Participants in the Plan. 

Any Agent of the Plan may be removed by Synovus at any time with or without cause. Any Agent of the Plan may resign at any time upon 120
days notice in writing to Synovus. Upon removal or resignation of such Agent, Synovus shall appoint a successor Agent of the Plan who shall have the same powers and duties as those conferred upon the original Agent hereunder. Upon acceptance of such
appointment by the successor Agent, the predecessor Agent shall assign, transfer, and pay over to such successor Agent the funds and properties then constituting the Fund and any and all records it might have with regard to the Fund and the
administration of the Fund. 
 Any corporation into which any corporate agent may be merged or with which it may be
consolidated, or any corporation resulting from any merger or consolidation to which any corporate agent may be a party, or any corporation to which all or substantially all of the business of any corporate agent may be transferred, shall be the
successor of such agent without the filing of any instrument or performance of any further act. 

  
 9 

  
 The Agent of the Plan
shall have the following powers and authority in the administration and investment of the Fund: 
  

	 	(a)	To purchase for the benefit of the Participants in the Plan shares of Synovus Common Stock in its name as Agent of the Plan, to receive the shares of Synovus Common
Stock previously acquired under the existing Plan and to retain the same and to cause the shares of Synovus Common Stock held as part of the Fund to be allocated, reallocated, and disposed of pursuant to the terms of the Plan.

  

	 	(b)	To cause any Synovus Common Stock held as part of the Fund to be registered in the Agent’s own name or in the name of one or more nominees, but the books and
records of the Agent shall at all times show that all such investments are part of the Fund. 

  

	 	(c)	To keep such portion of the Fund in cash or cash balances as the Agent, from time to time, may in its sole discretion deem to be in the best interests of the
Participants in the Plan without liability for interest thereon. 

  

	 	(d)	To make, execute, acknowledge and deliver any and all documents of transfer and conveyance and any and all other instruments as may be necessary or appropriate to carry
out the powers herein granted. 

  

	 	(e)	To employ subagents to engage in the actual open market purchase of Synovus Common Stock for the benefit of the Participants in the Plan. 

 

	 	(f)	To do all such acts, take all such proceedings, and exercise all such rights and privileges, although not specifically mentioned herein, as the Agent of the Plan may
deem necessary or desirable to administer the Fund, and to carry out and satisfy the purposes and intent of the Plan. 

  
 10 

  
 The Agent shall keep
accurate and detailed accounts of all receipts, disbursements, and other transactions hereunder, including, but not limited to, Participant payroll deductions received, Participating Employer contributions received, dividends and other distributions
received, and Synovus Common Stock purchased, allocated and held for, and Synovus Common Stock distributed to, Participants hereunder. All accounts, books, and records relating to such transactions shall be open to inspection and audit at all
reasonable times by any person designated by Synovus. 
 On or before the fifteenth day following the close of each month or
upon such other reporting schedules and for such other reporting periods as Synovus and the Agent of the Plan shall agree, the Agent shall file with Synovus a written report setting forth all receipts, disbursements, and other transactions effected
during such preceding month or reporting period, and setting forth the current status of the Fund. 
 ARTICLE VII 

STOCK PURCHASE 
 The Agent of the Plan shall use the funds in the Plan to purchase shares of Synovus Common Stock in the open market for the benefit of the Participants in the Plan. 

In the event that the Agent retains the services of subagents to make such purchases of shares of Synovus Common Stock, such subagents
shall not be controlled by, controlling or under common control with Synovus or its affiliates. Neither Synovus nor any of its affiliates shall have, nor exercise, directly or indirectly, any control or influence over the times when, or the prices
at which, the Synovus Common Stock may be 

  
 11 

 
purchased by the Agent or any subagents, the amounts of Synovus Common Stock to be so purchased or the manner in which such Synovus Common Stock is to be purchased. The Agent may retain the
services of said subagents only upon the execution of subagency agreements by and between the Agent and subagents which set forth terms and conditions not materially different from those contained herein with regard to the purchase of Synovus Common
Stock. 
 Neither the Agent of the Plan, Synovus nor any subagent retained by the Agent shall have any responsibility as to the
value of Synovus Common Stock acquired under the Plan. The duties of the Agent and any subagent to cause the purchase of Synovus Common Stock under the Plan shall be subject to any and all legal restrictions or limitations imposed at any time by
governmental authority, including, but not limited to, the Securities and Exchange Commission, and shall be subject to any other restrictions, limitations or considerations deemed valid by such Agent or any subagent. Accordingly, neither the Agent
of the Plan, Synovus nor any subagent shall be liable in any way if, as a result of such restrictions, limitations or considerations, the whole amount of funds available under the Plan for the purchase of Synovus Common Stock is not applied to the
purchase of such shares at the time herein otherwise provided or contemplated. 
 ARTICLE VIII 

ALLOCATION OF STOCK 
 As promptly as practical after each purchase by the Agent (or any subagents) of Synovus Common Stock for the benefit of the Participants in the Plan, the Agent of the Plan shall determine the average cost
per share of all shares so purchased. The Agent shall then ratably allocate such shares to the Stock Share Accounts of the Participants, 

  
 12 

 
charging each such Participant with the average cost, including transactional costs, of the shares so allocated. Full shares and fractional share interests in one share (to four decimal places)
shall be allocated. 
 ARTICLE IX 
 ISSUANCE OF SHARES OF SYNOVUS COMMON STOCK AND/OR CASH 
 A Participant may
request that the Agent issue shares or sell shares for all or a part of the full number of shares of Synovus Common Stock in a Participant’s Stock Share Account. As promptly as practicable, in accordance with and after receipt by the Agent of
such Participant’s request, the Agent will (1) issue such shares to such Participant, to a Synovus Dividend Reinvestment and Direct Stock Purchase Plan account, or to any person or brokerage account designated in writing by such
Participant; or (2) sell all or the specified number of shares, deduct brokerage commissions and a transaction charge, and issue a check made payable to the Participant or deposit the net proceeds directly to the account specified by the
Participant. The Agent will notify the Administrator of such issuance or sale of shares. The Participant request must clearly indicate the number of shares to be issued or sold, or specify that all shares held in such Participant’s Stock Share
Account are to be issued or sold. If administratively practicable, the Participant request may specify a sales price limit (i.e., a limit order). 
 ARTICLE X 
 DIVIDENDS AND DISTRIBUTIONS 

Stock dividends and stock splits received by the Agent of the Plan will be allocated by such Agent to each Participant’s Stock Share
Account to the extent that such stock is attributable to the allocated Synovus Common Stock in such Participant’s Stock Share 

  
 13 

 
Account. Cash dividends received by the Agent of the Plan shall be used to acquire additional shares of Synovus Common Stock pursuant to the provisions of the Plan, and such shares so acquired
will be allocated ratably to the Stock Share Accounts of Participants. 
 ARTICLE XI 

VOTING RIGHTS 
 Each Participant in the Plan shall have the rights and powers of ordinary shareholders with respect to the shares of Synovus Common Stock in such Participant’s Stock Share Account, including, but not
limited to, the right to vote such shares. Synovus shall deliver or cause to be delivered to the Participants in the Plan at the time and in the manner such materials are sent to Synovus shareholders generally all reports, proxy solicitation
materials and all other disclosure type communications distributed to Synovus shareholders generally. 
 ARTICLE XII 

REPORTS TO PARTICIPANTS 
 As soon as practical following the end of each Plan Year, or more often and as often as Synovus may elect, Synovus and/or the Agent of the Plan shall send to each Participant a written report of all
transactions for his or her benefit under the Plan for such Plan Year. 
 ARTICLE XIII 

TERMINATION OF PARTICIPATION IN PLAN 
 A Participant may terminate his or her participation in the Plan by making a Payroll Deduction Authorization Election to do so. Such termination will be effective as promptly as practicable. As promptly
as practicable, the Agent of the Plan, will, in accordance with 

  
 14 

 
the instructions of such former Participant, (1) issue the number of shares of Synovus Common Stock allocated to his or her Stock Share Account to the Participant’s Synovus Dividend
Reinvestment and Direct Stock Purchase Plan Account or other person or brokerage account designated by the Participant in writing; or (2) issue a check made payable to the Participant or deposit directly to an account specified by the
Participant the net cash proceeds from the sale of such shares, after deduction of brokerage commissions and a transaction charge. The Agent will notify the Administrator of such issuance or sale of shares. If a Participant terminates his or her
participation in the Plan, such Participant may re-enter the Plan by making a new Payroll Deduction Authorization Election pursuant to Article II. 
 Assignments or pledges of any interests under the Plan are not allowed. 
 ARTICLE
XIV 
 TERMINATION OF EMPLOYMENT 
 Participation in the Plan shall automatically terminate without notice upon termination of the Participant’s employment with a Participating Employer whether by death, retirement or otherwise, except
that a Participant whose employment is transferred to an Affiliate of Synovus that is not a Participating Employer may elect to maintain his or her Stock Share Account in the Plan as an inactive account with no payroll deductions or Participating
Employer contributions. If termination is other than by death, the Agent of the Plan will, in accordance with the Participant’s instructions, as promptly as practical, (1) issue the number of shares of Synovus Common Stock allocated to his
Stock Share Account and not previously distributed to the Participant or to the Participant’s Synovus Dividend Reinvestment and Direct Stock Purchase Plan Account or other person or 

  
 15 

 
brokerage account designated by the Participant in writing; or (2) issue a check made payable to the Participant or deposit directly to an account specified by the Participant the net cash
proceeds from the sale of such shares, after deduction of brokerage commissions and a transaction charge. The Agent will notify the Administrator of such issuance or sale of shares. If no such instructions are provided by the former Participant
within 60 days following the date of such termination, the shares will be delivered to the Participant’s Dividend Reinvestment and Direct Stock Purchase Plan Account. 
 If termination is by reason of death, the Agent will, as promptly as practical and after notification to the Administrator, in accordance with the instructions of the former Participant’s beneficiary
or designated in his or her Beneficiary Designation Election, where reasonably practicable, (1) issue the number of shares of Synovus Common Stock allocated to the former Participant’s Stock Share Account and not previously distributed to
such beneficiary or to such beneficiary’s Synovus Dividend Reinvestment and Direct Stock Purchase Plan Account or other brokerage account designated by such beneficiary in writing, or (2) issue a check to such beneficiary or deposit
directly into an account specified by such beneficiary the net cash proceeds from the sale of such shares, after deduction of brokerage commissions and a transaction charge. 
 ARTICLE XV 
 EXPENSES 

Synovus shall bear the cost of administering the Plan, including any transfer taxes incurred in transferring the Synovus Common Stock
from the Plan to the Participants. Any broker’s fees, commissions or other transaction costs actually incurred will be included in the cost of Synovus Common Stock to Participants. However, if a Participant requests

  
 16 

 
overnight delivery or other special delivery or handling services in connection with the Synovus Common Stock held in the Participant’s Stock Share Account, the cost of such delivery or
services will be charged to the Participant by the Agent. 
 ARTICLE XVI 

LIMITATION ON THE SALE OF STOCK 
 No Synovus Common Stock will be offered or sold under the Plan to any Eligible Employee in any state where the sale of such stock is not permitted under the applicable laws of such state. For purposes of
this Article XVI, the offering or sale of stock is not permitted under the applicable laws of a state if, inter alia, the securities laws of such state would require the Plan and/or the Synovus Common Stock offered pursuant thereto, to be registered
in such state and the Plan and/or Synovus Common Stock is not registered therein. 
 ARTICLE XVII 

AMENDMENT, TERMINATION AND SUSPENSION OF THE PLAN 
 Synovus reserves the right to amend the Plan at any time; however, no amendment shall affect or diminish any Participant’s right to the benefit of contributions made by such Participant or Synovus
prior to the date of such amendment, and no amendment shall affect the authority, duties, rights, liabilities or indemnities of the Agent of the Plan without the Agent’s prior written consent. 

Synovus reserves the right to terminate the Plan. In such event, there will be no further Participant payroll deductions and no further
Participating Employer contributions, but the Agent of the Plan will endeavor to make purchases of Synovus Common Stock out of available funds and will allocate such Stock to the Stock Share Accounts of Participants

  
 17 

 
in the usual manner. Upon termination of the Plan, distribution of Synovus Common Stock and any cash held as part of the Fund shall be governed by the provisions of Article XIV hereof.

 Synovus reserves the right to suspend Participating Employer contributions to the Plan if Synovus’ Board of Directors
determines that the financial condition of Synovus warrants such suspension. Such suspension shall remain in effect until such time as Synovus’ Board of Directors determines that the financial condition of Synovus warrants the restoration of
the Plan to full active status. During the time Participating Employer contributions are suspended, Synovus’ Board of Directors shall determine whether Participant payroll deductions are to be continued or suspended. If Synovus’ Board of
Directors permits the continuance of Participant payroll deductions, each Participant may elect to continue or suspend Participant payroll deductions on his or her own behalf. If the Participant elects to continue to make Participant payroll
deductions while Participating Employer contributions are suspended, the Participating Employers shall be under no obligation at any future date to make Participating Employer contributions with respect to such Participant’s payroll deductions
made during such period of suspension. During any period of suspension, under this Article XVII, the Plan shall continue normal operation to the extent practical. 
 ARTICLE XVIII 
 SUSPENSION OR TERMINATION IF 

STOCK PURCHASE IS PROHIBITED 
 In addition to all rights to terminate or suspend the Plan otherwise reserved herein, it is understood that the Plan may be suspended or terminated at any time or from time to

  
 18 

 
time by Synovus’ Board of Directors if the Plan’s continuance would, for any reason, be prohibited under any applicable federal and state law even though such prohibition arises because
of some act on the part of Synovus, including, but not limited to, Synovus’ engaging in a distribution of securities. If the Plan is suspended under this Article XVIII, no Participating Employer contributions or Participant payroll deductions
shall be made and no Synovus Common Stock shall be purchased until the Plan is restored to an active status. If the Plan is terminated pursuant to this Article XVIII, there shall be no further Participant payroll deductions and no further
Participating Employer contributions and there shall be no additional purchases of Synovus Common Stock. Upon termination of the Plan pursuant to this Article XVIII, distribution of Synovus Common Stock and any cash held as part of the Fund shall be
governed by the provisions of Article XIV hereof. 
 ARTICLE XIX 

CONSTRUCTION 
 This Plan shall be governed by and construed under the laws of the State of Georgia. 

  
 19Warrant to Purchase Common Stock dated September 27, 2010 - Oxford Finanace Corp

  
 Exhibit 4.4

 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE
STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 

WARRANT TO PURCHASE COMMON STOCK 
  

			
	Company:	  	TITAN PHARMACEUTICALS, INC., a Delaware corporation
	Number of Shares:	  	 287,356

	Warrant Price:	  	 $0.87 per share

	Issue Date:	  	September 27, 2010
	Expiration Date:	  	The 5th anniversary after the Issue Date
	Credit Facility:	  	This Warrant is issued in connection with the Amended and Restated
		  	Loan and Security Agreement between Company and Oxford Finance
		  	Corporation dated as of the Closing Date (as defined therein), as
		  	amended from time to time (the “Loan Agreement”).

 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, including without limitation the mutual promises contained in the Loan Agreement OXFORD FINANCE CORPORATION (together with any successor
or permitted assignee or transferee of this Warrant, “Holder”) is entitled to purchase the number of fully paid and nonassessable shares of the common stock (the “Shares”) of the Company at the Warrant Price, all as set forth
above and as adjusted pursuant to Article 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. 
 ARTICLE 1. EXERCISE. 
 1.1 Method of Exercise. Holder may exercise this
Warrant by delivering the original of this Warrant together with a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth
in Article 1.2, Holder shall also deliver to the Company a check, wire transfer (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. 

1.2 Conversion Right. In lieu of exercising this Warrant as specified in Article 1.1, Holder may from time to time convert this
Warrant, in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares or other securities otherwise issuable upon exercise of this Warrant minus the aggregate Warrant Price of such Shares
by (b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Article 1.3. 

  
 1.3 Fair Market
Value. The fair market value of each Share shall be the closing price of a Share reported for the business day immediately before Holder delivers this Warrant together with its Notice of Exercise to the Company. 

1.4 Delivery of Certificate and New Warrant. Promptly after Holder exercises or converts this Warrant and, if applicable, the
Company receives payment of the aggregate Warrant Price, the Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has not been fully exercised or converted and has not expired, a new Warrant representing the
Shares not so acquired. 
 1.5 Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of
the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of mutilation on surrender and
cancellation of this Warrant, the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor. 

1.6 Treatment of Warrant Upon Acquisition of Company. 
 1.6.1 “Acquisition”. For the purpose of this Warrant, “Acquisition” means any sale, license, or other disposition of all or substantially all of the assets of the Company, or
any reorganization, consolidation, or merger of the Company where the holders of the Company’s securities before the transaction beneficially own less than 50% of the outstanding voting securities of the surviving entity after the transaction.

 1.6.2 Treatment of Warrant at Acquisition. 
 A) Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that is not an asset sale and in which the sole consideration is cash, either (a) Holder shall exercise
its conversion or purchase right under this Warrant and such exercise will be deemed effective immediately prior to the consummation of such Acquisition or (b) if Holder elects not to exercise the Warrant, this Warrant will expire upon the
consummation of such Acquisition. The Company shall provide the Holder with written notice of its request relating to the foregoing (together with such reasonable information as the Holder may request in connection with such contemplated Acquisition
giving rise to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 
 B) Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that is an “arms length” sale of all or substantially all of the Company’s assets (and only
its assets) to a third party that is not an Affiliate (as defined below) of the Company (a “True Asset Sale”), either (a) Holder shall exercise its conversion or purchase right under this Warrant and such exercise will be deemed
effective immediately prior to the consummation of such Acquisition or (b) if Holder elects not to exercise the Warrant, this Warrant will continue until the Expiration Date if the Company continues as a going concern following the closing of
any such True Asset Sale. The Company shall provide the Holder with written notice of its request relating to the foregoing (together with such reasonable information as the Holder may request in connection with such contemplated Acquisition giving
rise to such notice), which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 

  
 2 

  
 C) Upon the closing of any Acquisition
other than those particularly described in subsections (A) and (B) above, the successor entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable for the same securities, cash, and property as would be
payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing. The Warrant Price and/or number of Shares shall be adjusted
accordingly. 
 As used herein “Affiliate” shall mean any person or entity that owns or controls directly or indirectly ten
(10) percent or more of the stock of Company, any person or entity that controls or is controlled by or is under common control with such persons or entities, and each of such person’s or entity’s officers, directors, joint venturers
or partners, as applicable. 
 ARTICLE 2. ADJUSTMENTS TO THE SHARES. 

2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on the shares of its common stock payable in common
stock, or other securities, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares of
record as of the date the dividend occurred. If the Company subdivides the shares of its common stock by reclassification or otherwise into a greater number of shares or takes any other action that causes the outstanding shares of its common stock
to become converted into a greater number of shares of common stock, the number of Shares shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares of the Company’s common stock are
combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased. 

2.2 Reclassification, Exchange, Combinations or Substitution. Upon any reclassification, exchange, substitution, or other event
that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon exercise or conversion of this Warrant, the number and kind of securities and
property that Holder would have received for the Shares if this Warrant had been exercised or converted immediately before such reclassification, exchange, substitution, or other event. The Company or its successor shall promptly issue to Holder an
amendment to this Warrant setting forth the number and kind of such new securities or other property issuable upon exercise or conversion of this Warrant as a result of such reclassification, exchange, substitution or other event that results in a
change of the number and/or class of securities issuable upon exercise or conversion of this Warrant and the amended Warrant Price. The amendment to this Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable
to the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new Warrant. The provisions of this Article 2.2 shall
similarly apply to successive reclassifications, exchanges, substitutions, or other events. 
 2.3 No Impairment. The
Company shall not, by amendment of its Certificate of Incorporation or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the
observance or performance of any of the terms to be observed or performed under this Warrant by the Company, but shall at all times in good faith assist in carrying out of all the provisions of this Article 2 and in taking all such action as may be
necessary or appropriate to protect Holder’s rights under this Article against impairment. 

  
 3 

  
 2.4 Fractional
Shares. No fractional Shares shall be issuable upon exercise or conversion of this Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or
conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder the amount computed by multiplying the fractional interest by the fair market value of a full Share computed as set forth in Article 1.3 above.

 2.5 Certificate as to Adjustments. Upon each adjustment of the Warrant Price, the Company shall promptly notify Holder
in writing, and, at the Company’s expense, promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer setting forth such adjustment and the facts upon which such adjustment is based. The Company
shall, upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of adjustments leading to such Warrant Price. 
 ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 
 3.1
Representations and Warranties. The Company represents and warrants and covenants to the Holder as follows: all Shares which may be issued upon the exercise of the purchase right represented by this Warrant shall, upon issuance, be duly
authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 

3.2 Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon any of its
stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to effect any reclassification or recapitalization of any of its stock; (c) to merge or consolidate with or into any other
corporation, or sell, lease, license, or convey all or substantially all of its assets, or to liquidate, dissolve or wind up, then, in connection with each such event, the Company shall give Holder: (1) at least 10 days prior written notice of
the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of common stock will be entitled thereto) or for determining rights to vote, if any, in respect of the
matters referred to in (a) above; and (2) in the case of the matters referred to in (b) and (c) above at least 10 days prior written notice of the date when the same will take place (and specifying the date on which the holders
of common stock will be entitled to exchange their common stock for securities or other property deliverable upon the occurrence of such event). Company will also provide information requested by Holder reasonably necessary to enable the Holder to
comply with the Holder’s accounting or reporting requirements. 
 3.3 No Shareholder Rights. Except as provided in
this Warrant, the Holder will not have any rights as a shareholder of the Company until the exercise of this Warrant. 
 ARTICLE 4.
REPRESENTATIONS, WARRANTIES OF THE HOLDER. The Holder represents and warrants to the Company as follows: 
 4.1
Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by the Holder will be acquired for investment for the Holder’s account, not as a nominee or agent, and not with a view to the public
resale or distribution within the meaning of the Act. Holder also represents that the Holder has not been formed for the specific purpose of acquiring this Warrant or the Shares. 

  
 4 

  
 4.2 Disclosure of
Information. The Holder has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. The
Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the
Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to the Holder or to which the Holder has access. 

4.3 Investment Experience. The Holder understands that the purchase of this Warrant and its underlying securities involves
substantial risk. The Holder has experience as an investor in securities of companies in the development stage and acknowledges that the Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying securities
and has such knowledge and experience in financial or business matters that the Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business
relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables the Holder to be aware of the character, business acumen and financial circumstances of such persons. 

4.4 Accredited Investor Status. The Holder is an “accredited investor” within the meaning of Regulation D promulgated
under the Act. 
 4.5 The Act. The Holder understands that this Warrant and the Shares issuable upon exercise or
conversion hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. The Holder
understands that this Warrant and the Shares issued upon any exercise or conversion hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such
registration and qualification are otherwise available. 
 ARTICLE 5. MISCELLANEOUS. 

5.1 Term. This Warrant is exercisable in whole or in part at any time and from time to time on or before the Expiration Date.

 5.2 Legends. This Warrant and the Shares shall be imprinted with a legend in substantially the following form:

 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE
STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 

  
 5 

  
 5.3 Compliance with
Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise of this Warrant may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the
transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require Holder to provide an
opinion of counsel if the transfer is to any affiliate of Holder. Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of Rule 144, including, without limitation, current
information as referenced in Rule 144(c), Holder represents that it has complied with Rule 144(d) and (e) in reasonable detail, the selling broker represents that it has complied with Rule 144(f), and the Company is provided with a copy of
Holder’s notice of proposed sale. 
 5.4 Transfer Procedure. After receipt by Holder of the executed Warrant, Holder
may transfer this Warrant to any affiliate of Holder, by execution of an Assignment substantially in the form of Appendix 2. Subject to the provisions of Article 5.3 and upon providing Company with written notice, any subsequent Holder may transfer
all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the Shares issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee, provided, however, in connection with any such transfer, any
subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to the Company for reissuance to the
transferee(s) (and Holder if applicable). 
 5.5 Notices. All notices and other communications from the Company to the
Holder, or vice versa, shall be deemed delivered and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company or the Holder, as the case may (or
on the first business day after transmission by facsimile) be, in writing by the Company or such Holder from time to time. Effective upon receipt of the fully executed Warrant and the initial transfer described in Article 5.4 above, all notices to
the Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer or otherwise: 
 Oxford Finance Corporation 
 133 N. Fairfax Street 

Alexandria, VA 22314 
 Attn: Tim A. Lex, Chief Operating Officer 
 Telephone: (703) 519-4900

 Facsimile: (703) 519-5225 
 Notice to the Company shall be addressed as follows until the Holder receives notice of a change in address: 
 Titan Pharmaceuticals, Inc. 
 400 Oyster Point Blvd., Suite 505 

South San Francisco, CA 94080 
 Attn: Chief Financial Officer 
 Tel.: (650) 244-4990 

Fax: (650) 244-4956 

  
 6 

  
 5.6 Waiver.
This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 

5.7 Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the
party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 
 5.8 Automatic Conversion upon Expiration. In the event that, upon the Expiration Date, the fair market value of one Share as determined in accordance with Article 1.3 above is greater than the
Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be converted pursuant to Article 1.2 above as to all Shares (or such other securities) for which it shall not previously have been
exercised or converted, and the Company shall promptly deliver a certificate representing the Shares (or such other securities) issued upon such conversion to the Holder. 
 5.9 Counterparts. This Warrant may be executed in counterparts, all of which together shall constitute one and the same agreement. 

5.10 Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of California,
without giving effect to its principles regarding conflicts of law. 
 [Balance of Page Intentionally Left
Blank] 

  
 7 

  

			
	“COMPANY”
	
	TITAN PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Sunil Bhonsle

	Name:	 	  

		 	Sunil Bhonsle
	Title:	 	President

  

			
	“HOLDER”
	
	OXFORD FINANCE CORPORATION
		
	By:	 	 /s/ T.A. Lex

	Name:	 	 T.A. Lex

		 	(Print)
	Title:	 	 COO

 [Signature Page to Warrant to Purchase Common Stock] 

  
 APPENDIX 1

 NOTICE OF EXERCISE 
 1. Holder elects to purchase                      shares of the Common Stock of TITAN
PHARMACEUTICALS, INC. pursuant to the terms of the attached Warrant, and tenders payment of the purchase price of the shares in full. 
 [or] 
 1. Holder elects to convert the attached Warrant into Shares in the manner
specified in the Warrant. This conversion is exercised for of the Shares covered by the Warrant. 
 [Strike paragraph that does
not apply.] 
 2. Please issue a certificate or certificates representing the shares in the name specified below: 

 

					
		 	  
	 	
		 	 Holders Name
	 	
			
		 	  
	 	
			
		 	  
	 	
		 	 (Address)
	 	

 3. By its execution below and for the benefit of the Company, Holder hereby restates each of the
representations and warranties in Article 4 of the Warrant as the date hereof. 
  

			
	HOLDER:
	
	  

		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

		
	(Date):	 	  

  
 APPENDIX 2

 ASSIGNMENT 
 For value received, Oxford Finance Corporation hereby sells, assigns and transfers unto 
 Name: 
 Address: 

Tax ID: 
 that
certain Warrant to Purchase Common Stock issued by TITAN PHARMACEUTICALS, INC. (the “Company”), on September 27, 2010 (the “Warrant”) together with all rights, title and interest therein. 

 

			
	 OXFORD FINANCE CORPORATION

		
	 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

 

			
	Date:	 	  

 By its execution below, and for the benefit of the Company,
                             makes each of the representations and warranties set forth in Article 4
of the Warrant and agrees to all other provisions of the Warrant as of the date hereof. 
  

			
	  

		
	 By:
	 	  

		
	 Name:
	 	  

		
	 Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}]]