Webster Financial Corporation Director Fee Arrangement (April 2005–April 2006)
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Summary
Webster Financial Corporation outlines the compensation structure for its outside directors for the period from April 2005 to April 2006. Directors receive an annual retainer in restricted stock, as well as fees for attending board and committee meetings, including telephonic sessions. Additional annual retainers are provided for committee chairpersons and the lead director. The Nominating and Corporate Governance Committee will review and may revise this fee schedule in April 2006 or at another meeting.
EX-10.28 3 y17935exv10w28.htm EX-10.28: DESCRIPTION OF ARRANGEMENT FOR DIRECTORS FEES EX-10.28
EXHIBIT 10.28
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 2005 to April 2006. The Nominating and Corporate Governance Committee will conduct its annual compensation review in April 2006 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 | Fee | |||
Annual Retainer | $25,000 payable in the form of restricted stock | |||
Board Meeting Attended | $ | 1,250 | ||
Committee Meeting Attended | $ | 1,250 | ||
Telephonic Board Meeting | $ | 625 | ||
Telephonic Committee Meeting | $ | 625 | ||
Separate Webster Financial Corporation and Webster Bank Board Meetings Held on the Same Day | $ | 1,750 | ||
Annual Retainer for the Chairman of the Audit Committee | $ | 15,000 | ||
Annual Retainer for the Chairpersons of the Compensation Committee | $ | 5,000 | ||
Annual Retainer for Lead Director and Chair of Nominating and Corporate Governance Committee | $ | 20,000 | ||
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