EXHIBIT 10.27

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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