Document:

exv10w37

Exhibit 10.37

TOTAL SYSTEM SERVICES, INC.

NONEMPLOYEE DIRECTOR FULLY VESTED STOCK OPTION AGREEMENT

     THIS NONEMPLOYEE DIRECTOR FULLY VESTED STOCK OPTION AGREEMENT (“Agreement”) is made effective
as of ____________, ____ by and between Total System Services, Inc., (the “Company”), a Georgia
corporation having its principal office at One TSYS Way, Columbus, Georgia, and _____________, a
Nonemployee Director of the Company (“Option Holder”).

W I T N E S S E T H:

     WHEREAS, effective _____________, ____ pursuant to the terms of the Total System Services,
Inc. 2007 Omnibus Plan (the “Plan”), the Option Holder has been awarded a Nonqualified Fully Vested
Stock Option in respect of the number of shares hereinbelow set forth.

     NOW THEREFORE, in accordance with the provisions of the Plan and this Agreement, it is agreed
by and between the parties hereto as follows:

     1. The terms, provisions and definitions of the Plan are incorporated by reference and made a
part hereof. All capitalized terms in this Agreement shall have the same meanings given to such
terms in the Plan except where otherwise noted.

     2. Subject to and in accordance with the provisions of the Plan, the Company hereby grants to
the Option Holder a Nonqualified Fully Vested Stock Option (“Option”) to purchase, on the terms and
subject to the conditions hereinafter set forth, _____ shares of the common stock ($0.10 par value)
of the Company at the purchase price of $_____ per share, which Option shall become non-forfeitable
and immediately exercisable at the close of business on ____________, ___(the “Vesting Date”).

     In the event of Option Holder’s death or total and permanent disability, Option Holder (or the
legal representative of Option Holder’s estate or legatee under Option Holder’s will) shall be able
to exercise the Option in full for the remainder of the Option’s term.

     In the event the Option Holder’s service as a Nonemployee Director of the Company ceases for
any reason, the Option may be exercised in full for the lesser of one year following the cessation
of the Option Holder’s service as a Nonemployee Director of the Company or the remainder of the
Option’s term.

     Unless sooner terminated as provided in the Plan, the Option shall terminate, and all rights
of the Option Holder hereunder shall expire on _____________, ___. In no event may the Option be
exercised after ________________, ___.

     3. The Option or any part thereof, may, to the extent that it is exercisable, be exercised in
the manner provided in the Plan. Payment of the aggregate Option Price for the number of shares
purchased and any applicable taxes shall be made in the manner provided in the Plan.

     4. The Option or any part thereof may be exercised during the lifetime of the Option Holder
only by the Option Holder, except as otherwise provided in the Plan or this Agreement.

     5. Unless otherwise designated by the Board of Directors or the Compensation Committee, the
Option shall not be transferred, assigned, pledged or hypothecated in any way. Upon any attempt to

 

 

transfer, assign, pledge, hypothecate or otherwise dispose of a nontransferable Option or any right
or privilege confirmed hereby contrary to the provisions hereof, the Option and the rights and
privileges confirmed hereby shall immediately become null and void.

     6. In the event of any merger, reorganization, consolidation, recapitalization, stock
dividend, or other change in corporate structure affecting the Company’s Stock, any necessary
adjustment shall be made in accordance with the provisions of Article 4.4 of the Plan.

     7. Any notice to be given to the Company shall be addressed to the Chairman of the Board of
the Company at One TSYS Way, Columbus, Georgia 31901.

     8. This Agreement shall be binding upon and inure to the benefit of the Option Holder, his
personal representatives, heirs or legatees, but neither this Agreement nor any rights hereunder
shall be assignable or otherwise transferable by the Option Holder except as expressly set forth in
this Agreement or in the Plan.

     The Company has issued the Option subject to the foregoing terms and conditions and the
provisions of the Plan. By signing below, the Option Holder hereby agrees to the foregoing terms
and conditions of this award.

     IN WITNESS WHEREOF, the Option Holder has set the Option Holder’s hand and seal, effective as
of ________, ___.

	 	 	 	 	 

	 

	 	__________________________(L.S.)
	 	 
	 

	 	Signatureexv10w38

Exhibit 10.38

NONEMPLOYEE DIRECTOR

FULLY VESTED SHARE AWARD AGREEMENT

          THIS NONEMPLOYEE DIRECTOR FULLY VESTED SHARE AWARD AGREEMENT (“Agreement”) is made effective
as of ______________, ____ by and between Total System Services, Inc., a Georgia corporation (the
“Corporation”), and ____________________________ (“Director”).

WHEREAS, Director has been awarded _______ fully paid and non-assessable shares of the common stock
of the Corporation, par value $0.10 per share (“Fully Vested Shares”), pursuant to the terms and
conditions of the Corporation’s 2007 Omnibus Plan (“Plan”) and this Agreement; and

WHEREAS, the Fully Vested Shares will initially be held in an account at The Bank of New York
Mellon or one of its subsidiaries (“BNY Mellon”) for Director.

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

	1.	 	Transfer of Fully Vested Shares
	 
	 	 	The Corporation hereby transfers the Fully Vested Shares to Director subject to the terms
and conditions set forth in the Plan and in this Agreement. Effective upon the date of such
transfer, Director will be the holder of record of the Fully Vested Shares and will have all
rights of a shareholder with respect to such shares (including the right to vote such shares
at any meeting at which the holders of the Corporation’s common stock may vote, the right to
receive all dividends declared and paid upon such shares and the right to exercise any
rights or warrants issued in respect of any such shares), subject only to the terms and
conditions set forth in the Plan and in this Agreement. The Fully Vested Shares will
initially be held in an account for Director at BNY Mellon.

	2.	 	Vesting
	 
	 	 	The Fully Vested Shares will become non-forfeitable (i.e., “vest”) at the close of business
on _________________, ____ (the “Vesting Date”).

	3.	 	General Provisions

(a) 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. Director’s rights under this Agreement will be exercisable during
Director’s lifetime only by Director or by Director’s guardian or legal representative.

(b) 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 Director, Director’s heirs, devisees
and legal representatives.

 

 

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

(d) 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.

(e) Plan Governs. The Fully Vested Shares are being transferred to Director
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.

(f) 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.

(g) Amendment; Modification; Waiver. No provision set forth in this Agreement may
be amended, modified or waived unless such amendment, modification or waiver shall be agreed
to in writing, signed by Director 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.

(h) 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.

          The Corporation has issued the Fully Vested Shares in accordance with the foregoing terms and
conditions and in accordance with the provisions of the Plan. By signing below, Director hereby
agrees to the foregoing terms and conditions of the Fully Vested Shares.

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

	 	 	 	 	 

	 

	 	__________________________(L.S.)
	 	 
	 

	 	Signature	 	 

2

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