Company: WBS-PG
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000801337-25-000015
Chunk: 63

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 63
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 her annual base salary through the date of termination, the amount of any compensation previously deferred by the executive and any other amounts or benefits required to be paid or provided to the executive under any agreement or plan of Webster and its affiliated companies. Cause is defined as: • the willful and continued failure by the executive to perform substantially the executive’s duties with Webster or one of its affiliates (other than a failure resulting from incapacity due to physical or mental illness), after written demand for performance is delivered to the executive by the Chairman & Chief Executive Officer, or • the willful engaging by the executive in illegal conduct or gross misconduct which is materially and demonstrably injurious to Webster. • For Good Reason or Other than for Cause, Death or Disability – Executives are entitled to certain payments and continued benefits in the event of a termination following a change in control other than for Cause, Death or Disability, or in the event the executive terminates his or her employment for “Good Reason.” Good Reason is defined as: • the assignment to the executive of duties inconsistent with the executive’s position, authority, duties or responsibilities resulting in a diminution in such position, authority, duties or responsibilities; • the failure by Webster to comply with the compensation terms of the executive’s change in control agreement; • a material change in the office or location at which the executive is primarily based or Webster’s requiring the executive to travel on Company business to a substantially greater extent than required immediately prior to the change in control; • the termination by Webster of the executive’s employment other than expressly as permitted by the change in control agreement; or • the failure by Webster to require that any successor assume, and perform according to, the executive’s change in control agreement. In the event of a termination pursuant to Good Reason or Other than for Cause, Death or Disability upon Change in Control, each NEO is entitled to: • the executive’s base salary through the termination date to the extent not previously paid; • a prorated target Cash Incentive Award for the fiscal year in which the termination occurs based upon the period of time elapsed during such fiscal year; • any previously deferred compensation and accrued vacation pay; • an amount equal to three times the sum of the executive’s base salary and Cash Incentive Award target for Messrs. Ciulla, Massiani and Motl and two times for the other NEOs; 46

| WebsterFinancial Corporation |     | EXECUTIVE COMPENSATION |

• the additional amounts that would have been contributed or credited to his accounts in