Webster Financial Corporation 2005 Directors Fee Arrangement Description

Contract Categories: Human Resources › Compensation Agreements
Summary

Webster Financial Corporation outlines the compensation structure for its outside directors for fiscal year 2005. Directors receive an annual retainer of $20,000 in company stock, plus additional fees for attending board and committee meetings, with higher fees for chairing certain committees and for the lead director. The arrangement specifies payment amounts for in-person and telephonic meetings, as well as combined board meetings held on the same day.

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EX-10.27 5 y05069exv10w27.htm EX-10.27: DESCRIPTION OF ARRANGEMENT FOR DIRECTORS FEES EX-10.27  

EXHIBIT 10.27

Description of Arrangement for Directors Fees

The following sets forth the amount of fees payable to outside directors of Webster Financial Corporation for their services as Directors in fiscal year 2005:

     
Event   Fee
Annual Retainer
   $20,000 payable in the form of shares of common stock pursuant to the 2001 Directors Retainer Fees Plan.
 
    
Board Meeting Attended
   $1,250
 
    
Committee Meeting Attended
   $1,000
 
    
Telephonic Board Meeting
   $625
 
    
Telephonic Committee Meeting
   $500
 
    
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
   $10,000
 
    
Annual Retainer for the Chairpersons of the Compensation Committee and the Nominating and Corporate Governance Committee
   $5,000
 
    
Annual Retainer for Lead Director
   $20,000