Webster Financial Corporation Director Fee Arrangement Effective April 2015
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Summary
Webster Financial Corporation outlines the fees paid to its outside directors for their board and committee service, effective April 2015. Outside directors receive an annual retainer of $32,000, with additional payments for attending board and committee meetings, both in-person and by phone. Special annual retainers are provided for the Lead Director and the chairs of key committees, including Audit, Compensation, and Nominating & Corporate Governance. This arrangement specifies the compensation structure for non-employee directors serving on the company's board.
EX-10.15 2 exhibit1015descriptir.htm EXHIBIT 10.15 Exhibit 10.15 Description of Arrangement for Director Fees
EXHIBIT 10.15
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 2015.
Event | Amount | ||
Annual Retainer | $ | 32,000 | |
Board Meeting Attended | $ | 1,200 | |
Telephonic Board Meeting | $ | 600 | |
Committee Meeting Attended | $ | 1,200 | |
Telephonic Committee Meeting | $ | 600 | |
Annual Retainer for Lead Director | $ | 22,500 | |
Annual Retainer for the Chair of the Audit Committee | $ | 15,000 | |
Annual Retainer for the Chair of the Compensation Committee | $ | 10,000 | |
Annual Retainer for the Chair of the Nominating & Corporate Governance Committee | $ | 7,500 | |
Annual Retainer for the Chair of the Compensation Committee | $ | 10,000 | |
