Webster Financial Corporation Director Fee Arrangement Effective April 2020
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Summary
Webster Financial Corporation has established a fee structure for its outside directors, effective April 2020. The arrangement specifies annual retainers for board service and additional fees for serving as chair or member of key committees, including Audit, Compensation, Nominating & Corporate Governance, and Risk Committees. The fees vary depending on the role, with higher amounts for committee chairs and the Lead Director. This arrangement outlines the compensation directors receive for their governance and oversight responsibilities.
EX-10.6 2 exhibit106descriptionofarr.htm EX-10.6 Document
EXHIBIT 10.6
Description of Arrangement for Directors Fees
The table below sets forth the amount of fees payable to outside directors of Webster Financial Corporation for their services as Directors, effective April 2020.
| Event | Amount | ||||
| Annual Board Retainer - Lead Director | $ | 76,000 | |||
| Annual Board Retainer - Director | $ | 54,000 | |||
| Annual Audit Committee Retainer - Chair | $ | 24,000 | |||
| Annual Audit Committee Retainer - Member | $ | 11,000 | |||
| Annual Compensation Committee Retainer - Chair | $ | 20,000 | |||
| Annual Compensation Committee Retainer - Member | $ | 8,000 | |||
| Annual Nominating & Corporate Governance Committee Retainer - Chair | $ | 13,000 | |||
| Annual Nominating & Corporate Governance Committee Retainer - Member | $ | 5,000 | |||
| Annual Risk Committee Retainer - Chair | $ | 20,000 | |||
| Annual Risk Committee Retainer - Member | $ | 8,000 | |||
