Webster Financial Corporation Director Fee Arrangement (April 2013–April 2014)
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Summary
Webster Financial Corporation outlines the fees paid to its outside directors for their service from April 2013 to April 2014. Directors receive an annual retainer and additional payments for attending board and committee meetings, with separate amounts for telephonic participation. Extra annual retainers are provided for the Lead Director and chairs of key committees. The Compensation Committee will review and may revise this fee schedule in February 2014 or at another meeting.
EX-10.16 3 exhibit1016descriptionofar.htm ARRANGEMENT OF DIRECTOR FEES Exhibit 10.16 Description of Arrangement for Director Fees
EXHIBIT 10.16
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 for the period April 2013 to April 2014. The Compensation Committee will conduct the annual compensation review in February 2014. The Committee may decide to revise the Schedule shown below at the meeting or at another meeting.
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 $ 7,500
Governance Committee
Annual Retainer for the Chair of the Compensation Committee $10,000
