SYNOVUS FINANCIAL CORP.
                              EXECUTIVE BONUS PLAN
 
 
 
                                    ARTICLE I
 
                              OBJECTIVE OF THE PLAN
 
         The  purposes of this  Synovus  Financial  Corp.  Executive  Bonus Plan
("Plan") to reward selected  officers of Synovus Financial Corp. (the "Company")
and  certain  of  its  subsidiaries   ("Subsidiaries")  for  superior  corporate
performance  measured by  achievement  of financial  performance  and  strategic
corporate objectives and to attract and retain top quality officers.
 
 
                                   ARTICLE II
 
                               PLAN ADMINISTRATION
 
         This  Plan  is   administered  by  the   Compensation   Committee  (the
"Committee")  of the  Company's  Board  of  Directors  (the  "Board"),  with the
approval, as to matters involving employees of any publicly-traded Subsidiary of
the Company, of the compensation  committee of such publicly-traded  Subsidiary.
The Committee (and the compensation committee of any publicly-traded  Subsidiary
of the Company) shall be composed of two or more outside directors as defined in
Section 162(m) of the Internal Revenue Code of 1986, as amended ("Code").
 
 
                                   ARTICLE III
 
                                  PARTICIPANTS
 
         Participation  is limited to the Chief  Executive  Officer and the four
highest compensated  officers of the Company and any publicly-traded  Subsidiary
of the Company as selected  from  year-to-year  by the members of the  Committee
("Participants").
 
 
                                   ARTICLE IV
 
                             PERFORMANCE OBJECTIVES
 
         Each fiscal year, the Committee shall establish
 
                  (i)      performance objectives for such and/or the succeeding
                           fiscal year for the Company,  any Subsidiary,  or any
                           business  segment or business  unit of the Company or
                           any  Subsidiary,  based upon such  criteria as may be
                           from time to time considered by the Committee,  which
                           criteria may include,  not to the  exclusion of other
                           criteria,  criteria  that  has  been  approved by the
                           shareholders  of  the Company  or the shareholders of
                           any publicly-traded Subsidiary of the Company; and
 
                  (ii)     a system  which  equates  the  attainment  of various
                           performance    objectives    by   the   Company   and
                           Subsidiaries  for such and/or the  succeeding  fiscal
                           year into various percentages of the base salaries of
                           eligible officers of the Company and Subsidiaries for
                           such and/or the  succeeding  fiscal year which may be
                           awarded  to such  Employees  who are  selected  to be
                           Participants in the Plan as bonuses.
 
         The maximum award under this Plan to any  participant  shall be 150% of
base salary, provided, however, that no participant may receive an award for any
performance period in excess of $1,500,000.
 
 
                                    ARTICLE V
 
                                AWARD OF BONUSES
 
         As soon as  practicable  after each fiscal  year for which  performance
objectives have,  pursuant to Article IV, been established,  the Committee shall
determine    whether   the   Company   and   each   Subsidiary    attained   the
previously-established   performance   objectives.   Assuming  such  performance
objectives  shall be attained,  the Committee shall  determine,  in its sole and
exclusive discretion, whether any bonuses shall be awarded for such fiscal year.
Such bonuses shall be awarded as soon as practicable thereafter and the officers
who are  determined  to be entitled to receive  such  bonuses  shall be promptly
notified of the award thereof.
 
 
                                   ARTICLE VI
 
                               PAYMENT OF BONUSES
 
         Any bonus or any portion of any bonus awarded to a  Participant  shall,
at the election of such Participant,  be deferred and made subsequently  payable
to such Participant and/or his beneficiary, as provided in Article VIII hereof.
 
         In order to properly provide for timely elections as to the deferral of
receipt of bonuses,  each eligible officer of the Company or Subsidiary eligible
to become a Participant  in the Plan may elect by an instrument in writing,  the
form for said written  election being attached hereto and marked Exhibit "A" and
entitled  "Election  Regarding  Deferral of Executive Bonus Awarded  Pursuant to
Synovus  Financial  Corp.  Executive  Bonus  Plan" on or before  the 31st day of
December  of the year  preceding  the fiscal  year for which such bonus is to be
awarded,  to have any  percentage  of any bonus  which may be awarded to him for
such  fiscal year paid to him in cash on the  distribution  date for such fiscal
year,  with the balance being deferred and payable to him as provided in Article
VIII hereof. Said written forms of election shall be filed with the Committee.
 
 
                                   ARTICLE VII
 
                        DEFERRED EXECUTIVE BONUS ACCOUNTS
 
         There shall be  established  for each  Participant  who elects to defer
receipt of any portion of any bonus  awarded to him an account to be  designated
as such  Participant's  Deferred  Executive  Bonus  Account to which  amounts so
elected to be  deferred  shall be  allocated.  Interest,  at a rate equal to the
average annual  short-term  prime rate as established by Columbus Bank and Trust
Company for each fiscal year and applied to the average  balance in said Account
for said fiscal year, shall be credited to such Participants' Deferred Executive
Bonus Accounts on December 31st of each fiscal year until all amounts  allocated
thereto have been  distributed to such  Participants or their  beneficiaries  as
provided in Article VIII hereof.
 
 
                                  ARTICLE VIII
 
           DISTRIBUTION AFTER PARTICIPANT'S DEFERRAL TERMINATION DATE
 
         When a  Participant's  employment  termination  date shall  occur,  the
balance  in  such  Participant's  Deferred  Executive  Bonus  Account  shall  be
distributed to such Participant or his beneficiary as provided hereinbelow:
 
                  (A)      Distribution  shall  be made in one lump sum or in up
                           to 120  approximately  equal and consecutive  monthly
                           installments.  The  method  of  payment,  lump sum or
                           installment,  and, in the event the  distribution  is
                           determined to be made by installments,  the number of
                           installments  in  which  such  distribution  is to be
                           made, for each Participant shall be determined solely
                           and exclusively by the Committee.
 
                  (B)      If a Participant's  termination of employment  occurs
                           by reason of his death  (except by  suicide) or total
                           disability, the lump sum payment or the first monthly
                           installment,    provided   for   in   paragraph   (A)
                           hereinabove,  shall be paid  within 30 days after the
                           last  day of the  month in  which  the  Participant's
                           termination of employment occurs.
 
                  (C)      If a Participant's termination of employment with the
                           Company and/or Subsidiary is for a reason other  than
                           death  (except   by   suicide)   or  disability,  the
                           distributions   made   pursuant   to   paragraph  (A)
                           hereinabove  shall  commence at such time as shall be
                           determined by the Committee;  PROVIDED, HOWEVER, that
                           in no event shall such distributions begin later than
                           the  date  upon  which  such  Participant attains age
                           70 1/2,  and  PROVIDED FURTHER, HOWEVER, that if such
                           Participant dies or becomes totally disabled prior to
                           his   attaining   age   70 1/2,   the   distributions
                           to which such Participant would have been entitled to
                           receive  under  this  paragraph  shall commence to be
                           made  within  thirty  (30) days after the last day of
                           the month in which such Participant's  death or total
                           disability occurred.
 
                  (D)      If a Participant shall cease to be an Employee of the
                           Company  by  reason  of  his death or if he shall die
                           after  his  employment  termination date but prior to
                           his receipt of all distributions provided for herein,
                           all    cash    distributable    hereunder,   or   the
                           undistributed  balance  thereof, shall be distributed
                           to such beneficiary or beneficiaries as he shall have
                           designated by  an instrument in writing, the form for
                           said  written  designation being  attached hereto and
                           marked  Exhibit   "B"   and   entitled   "Beneficiary
                           Designation," filed  with  the  Committee in the same
                           manner  and at  the same intervals as they would have
                           been  made  to  the  Participant  had he continued to
                           live, or, in the absence  of an effective Beneficiary
                           Designation,  in  a  lump  sum  to  the Participant's
                           estate.
 
 
                                   ARTICLE IX
 
             DISTRIBUTION IN THE EVENT OF SEVERE FINANCIAL HARDSHIP
 
         In the event a Participant or any  beneficiary of a Participant  incurs
"severe financial hardship," the Committee may authorize the acceleration of the
payment of benefits  hereunder to, and only to, the extent reasonably  necessary
to eliminate such "severe financial  hardship." The Committee possesses the sole
discretion as to the  determination  of the existence,  in a particular  factual
setting, of "severe financial hardship;"  PROVIDED,  HOWEVER, in the exercise of
such discretion,  the Committee is charged with the responsibility of exercising
its  discretion  in  a  fair,  reasonable  and   nondiscriminatory   manner  and
determinations of "severe financial hardship" shall be limited solely to factual
situations caused by accident,  illness or other event beyond the control of the
Participant  or his  beneficiary,  which  shall not have been an event that such
Participant or his beneficiary would voluntarily incur.
 
 
                                    ARTICLE X
 
                             NO ENTITLEMENT TO BONUS
 
         Participants  are entitled to a distribution  under this Plan only upon
the approval of the award by the Committee and no Participant  shall be entitled
to a bonus under the Plan due to the  attainment of performance  objectives.  In
addition,  any  Participant  not  employed  by the  Company or a  Subsidiary  on
December 31 of any fiscal year will not be entitled to a bonus unless  otherwise
                                    ---
determined by the Committee.
 
 
                                   ARTICLE XI
 
                               TERMINATION OF PLAN
 
         The Company  Board of Directors  may amend or terminate the Plan at any
time.  Upon  termination  of the Plan,  distributions  in  respect of credits to
Participants'  Deferred  Executive  Bonus Accounts as of the date of termination
shall be made in the manner and at the time prescribed in Article VIII hereof.
 
 
                                   ARTICLE XII
 
                      PARTICIPANT'S RIGHT OF ASSIGNABILITY
 
         Except as provided in subsection (D) of Article VIII hereof,  regarding
beneficiary  designation,  amounts credited to Deferred Executive Bonus Accounts
of Participants shall not be subject to assignment, pledge or other disposition,
nor shall  such  amounts  be subject to  garnishment,  attachment,  transfer  by
operation of law, or any legal process.
 
 
                                  ARTICLE XIII
 
                                  GOVERNING LAW
 
         The validity, construction, performance and effect of the Plan shall be
governed by Georgia law.
 
 
 
 
                                   EXHIBIT "A"
 
                         ELECTION REGARDING DEFERRAL OF
                          BONUS AWARDED PURSUANT TO THE
                  SYNOVUS FINANCIAL CORP. EXECUTIVE BONUS PLAN
 
 
 
      __________________("Employee"), in the event Employee is awarded  a  bonus
under the Synovus  Financial  Corp.  Executive  Bonus Plan (the  "Plan") for the
period commencing January 1, 199_____, and ending December 31, 199_____,  hereby
makes the following elections.
 
         I.   Employee elects to have____________percent of the bonus awarded to
              him for the above elected period of participation in the Plan paid
              in  cash  to  him  on the distribution date provided for under the
              Plan.   
                 
         II.  Employee  further elects  to  defer  receipt of the balance of the
              bonus  awarded   to   him   for  the   above  elected   period  of
              participation   in  the  Plan,   said  balance  to be  payable  to
              Employee  or  his   Beneficiary  pursuant  to the terms of Article
              VIII of this Plan.
 
    IN WITNESS WHEREOF, Employee has affixed his hand and seal, all as of 
the_______day of ______________ , 199____ .
 
 
 
                                         _________________________________(L.S.)
                                         "EMPLOYEE"
 
         Received and accepted as of the ________day of________ , 199_____ .
                                        
 
                                          COMPENSATION COMMITTEE
 
                                          By:________________________________
                                                    Secretary
 
 
 
 
                                   EXHIBIT "B"
 
                             BENEFICIARY DESIGNATION
 
 
      ________________________("Participant")  hereby  designates  the following
persons  as  beneficiaries  entitled,  upon  the  death of  Participant,  to any
payments in accordance  with the terms and  provisions of the Synovus  Financial
Corp. Executive Bonus Plan ("Plan"),  this beneficiary designation being made by
Participant pursuant to Article VIII of the Plan:
 
         Primary Beneficiary:
 
         Name:__________________________________________________________________
 
         Address:_______________________________________________________________
 
         It is  understood  and  agreed  that in the  event of the  death of the
above-named Primary Beneficiary,  the Contingent  Beneficiary (or Beneficiaries)
shall be entitled to receive the payments under the Plan the Primary Beneficiary
was  receiving  or would have  received.  In the event more than one  Contingent
Beneficiary is designated,  said Contingent  Beneficiaries  shall be entitled to
receive payments made pursuant to the Plan per capita:
 
         Names:     ____________________________________________________________
 
                    ____________________________________________________________
 
         Addresses: ____________________________________________________________
 
                    ____________________________________________________________
 
         This beneficiary  designation supersedes all beneficiary  designations,
if any,  previously made by Participant and may be amended at any time by filing
another such beneficiary designation with the Compensation Committee.
 
         IN WITNESS  WHEREOF,  Participant  has  affixed his hand and seal, 
this _______ day of_________, 199______ .
 
 
                                              ____________________________(L.S.)
                                              "PARTICIPANT"
 
         Received this day of ___________day of__________ , 199________.
                              
                                              COMPENSATION COMMITTEE
 
 
                                              By:_______________________________
                                                        Secretary