Description of Director Fee Arrangement for Webster Financial Corporation (April 2006–April 2007)

Summary

Webster Financial Corporation outlines the compensation structure for its outside directors for the period from April 2006 to April 2007. Directors receive an annual retainer, with a portion paid in restricted stock and the remainder in cash, as well as additional fees for attending board and committee meetings. Special retainers are provided for directors serving as lead director or as chairs of key committees. The Nominating and Corporate Governance Committee will review and may revise these fees at the annual meeting in April 2007.

EX-10.30 2 y29744exv10w30.htm EX-10.30: DESCRIPTION OF ARRANGEMENT FOR DIRECTORS FEES. EX-10.30  

EXHIBIT 10.30
 
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 2006 to April 2007. The Nominating and Corporate Governance Committee will conduct its annual compensation review in April 2007 in connection with the Company’s annual meeting. The Committee may decide to revise the Schedule shown below at the meeting or at another meeting.
 
     
Event
  Amount
 
Annual Retainer
  $32,000 ($25,000 payable in the form of shares of restricted stock pursuant to the 2001 Directors Retainer Fees Plan, and $7,000 payable in cash)
Board Meeting Attended
   $1,500
Committee Meeting Attended
   $1,250
Telephonic Board Meeting
     $750
Telephonic Committee Meeting
     $625
Separate Webster Financial Corporation and Webster Bank Board Meetings (Held on the Same Day)
   $2,000
Annual Retainer for Lead Director and Chair of the Nominating and Corporate Governance Committee
  $20,000
Annual Retainer for the Chair of the Audit Committee
  $15,000
Annual Retainer for the Chair of the Compensation Committee
   $7,500
Annual Retainer for the Chair of the Risk Committee
   $7,500


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