Webster Financial Corporation Director Fee Arrangement (April 2011–April 2012)
Webster Financial Corporation outlines the fees paid to its outside directors for their service from April 2011 to April 2012. Directors receive an annual retainer and additional payments for attending board and committee meetings, including telephonic sessions. Extra annual retainers are provided for the Lead Director and the chairs of key committees. The Compensation Committee will review and may revise this fee schedule in April 2012 or at another meeting.
EXHIBIT 10.24
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 2011 to April 2012. The Compensation Committee will conduct the annual compensation review in April 2012. 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 | |
Committee Meeting Attended | $1,200 | |
Telephonic Board Meeting | $600 | |
Telephonic Committee Meeting | $600 | |
Separate Webster Financial Corporation and Webster Bank Board Meetings (Held on the Same Day) | $2,000 | |
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 Risk Committee | $10,000 | |
Annual Retainer for the Chair of the Nominating & Corporate Governance Committee | $7,500 |