Company: WBS-PG
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000801337-25-000015
Chunk: 64

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 64
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 both the 401(k) Plans and the SERP if the executive’s employment had continued for three years after the date of termination for Messrs. Ciulla, Massiani, and Motl and two years for the other NEOs, based on the compensation amounts that would have been required to be paid to him or her under the change of control agreement. • the amount equal to the cost for continued benefits for the executive and his family for a period of three years following termination for Messrs. Ciulla, Massiani, and Motl and two years for the other NEOs; • outplacement services; and • any other amounts or benefits to which he is entitled under any agreement or plan of Webster and its affiliated companies. The NEOs are not entitled to any gross-up payment in the event they would be subject to excise tax under Section 4999 of the IRC (relating to excess parachute payments). On February 1, 2024, Mr. Massiani entered into a Change in Control agreement consistent with that of Mr. Ciulla as described above; in addition, Mr. Motl entered into an amendment to his current Change in Control agreement which increased his benefits to be consistent with those defined in Mr. Ciulla’s agreement. Assuming a December 31, 2024 termination event following a Change in Control, the aggregate value of the payments and benefits to which each NEO would be entitled in the event of termination other than for Cause, Death or Disability, or in the event the executive terminates employment for Good Reason would be as follows:

| Payments Due Upon Involuntary Termination Not for Cause     
 or Termination for Good Reason following Change in Control1 |

| Name                |     | Salary and Cash 
 Incentive       
 ($)             |           |     | Qualified and 
 Non-qualified 
 401(k)        
 Contribution  
 Equivalents   
 ($)           |         |     | Benefits 
 and      
 Health   
 Programs 
 ($)      |         |     | Value of    
 Accelerated 
 Equity2     
 ($)         |            |     | Total    
 Payments 
 ($)      |            |
| John R. Ciulla      |     |                 | 8,800,000 |     |               | 447,564 |     |          | 145,659 |     |             | 10,526,202 |     |          | 19,919,425 |
| Glenn I. MacInnes   |     |                 | 3,259,500 |     |               | 112,