Attached files
EXHIBIT 10.23
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 2009 to April 2010. The Nominating and Corporate Governance Committee will conduct its annual compensation review in April 2010 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 |
$1,200 | |
| Committee Meeting Attended |
$1,200 | |
| Telephonic Board Meeting |
$600 | |
| Telephonic Committee Meeting |
$600 | |
| Separate Webster Financial Corporation and Webster |
$2,000 | |
| Bank Board Meetings (Held on the Same Day) |
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| Annual Retainer for Lead Director which includes fee as Chair of the Nominating and Corporate Governance Committee |
$20,000 | |
| Annual Retainer for the Chair of the |
$15,000 | |
| Audit Committee |
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| Annual Retainer for the Chair of the Compensation Committee |
$7,500 | |
| Annual Retainer for the Chair of the Risk Committee |
$7,500 |