Document:

EX-10.1

Exhibit 10.1

AMENDMENT NO. 5

TO THE

SUPPLEMENTAL RETIREMENT PLAN

FOR EMPLOYEES OF

WEBSTER BANK

The Supplemental Retirement Plan for Employees of Webster Bank, as amended and restated
effective as of January 1, 2003, is hereby amended as follows:

(1) Effective as of July 1, 2006 (the effective date of the transfer of recordkeeping services
for the Plan to Fidelity Investments), Section 4(b) of Article III of the Plan is amended to read
as follows:

(b) (i) An Employee’s Supplemental Matching Contributions shall be credited with earnings
and losses in the same manner as if the Supplemental Matching Contributions were actually
invested in one or more of the investment options offered under the 401(k) Plan and elected
by the Employee; provided, however, that: (A) the Fidelity Managed Income Portfolio shall
not be deemed to be an investment option available under the 401(k) Plan; (B) the Webster
Stock Fund shall not be deemed to be an investment option available under the 401(k) Plan,
except that the Webster Stock Fund shall be deemed to be an investment option available
under the 401(k) Plan for the Chairman and Chief Executive Officer, the President and Chief
Operating Officer, and the Chief Financial Officer of the Bank effective on and after May 1,
2007; and (C) a Fidelity money market fund shall be deemed to be an investment option
available under the 401(k) Plan.

(ii) An Employee may specify the percentage of the Supplemental Matching Contributions
to be credited to the Plan on his or her behalf, or the percentage of his or her
Supplemental Matching Contributions Account attributable to his or her Supplemental Matching
Contributions, which will be credited with earnings and losses based on the investment
options selected by the Employee. The Employee may change his or her election at any time
by providing notice to the Board (or its designated representative), and any such change
shall be effective as soon as practicable after it is received by the Board (or its
designated representative). Any change in an Employee’s election shall be effective on a
prospective basis only.

(iii) With respect to any Supplemental Matching Contributions credited to an Employee’s
Supplemental Matching Contributions Account prior to July 1, 2006, interest (compounded
monthly) shall be added to the balance credited to the Supplemental Matching Contributions
Account from time to time: (A) as of the last day of each calendar year during the period
beginning when the Supplemental Matching Contributions were first so credited, and ending on
the last day of the calendar year preceding the date described in (B); and (B) as of the
date of distribution of a final installment payment (pursuant to Section 5(a)(ii) of Article
III) or a single sum distribution (pursuant to Section 5(a)(i) of Article III) of the
amounts credited to the Employee’s Supplemental Matching Contributions Account. The rate of
interest is the interest rate on one year United States Treasury obligations, as reported
from time to time in The Wall Street Journal, plus fifty (50) basis points, adjusted
monthly.

Notwithstanding the preceding paragraph of this Section 4(b)(iii) of Article III, an
Employee who had not commenced to receive his or her Supplemental Matching Contributions
prior to June 7, 2006 was permitted to elect to have any Supplemental Matching Contributions
credited to his or her Supplemental Matching Contributions Account prior to July 1, 2006
credited with earnings and losses pursuant to the provisions of Section 4(b)(i) and Section
4(b)(ii) of Article III rather than being credited with interest pursuant to the preceding
paragraph of this Section 4(b)(iii) of Article III. Any such election had to be made by
June 7, 2006, and is irrevocable.

(2) Effective as of May 1, 2007, a new subsection (c) is added to Section 5 of Article III, as
follows:

(c) Amounts paid under this Section 5 of Article III shall be paid in cash except that, prior
to the commencement of payments, at the election of the Chairman and Chief Executive Officer,
President and Chief Operating Officer, or Chief Financial Officer, or his or her Beneficiary if
payments have not commenced at the time of the his or her death, the portion, if any, of the
Supplemental Matching Contributions Account that is then credited with earnings and losses based on
the value of Webster Financial Corporation common stock shall be distributed in shares of such
common stock.

(3) All section numbers and cross references thereto are appropriately amended to effectuate
the intention of the foregoing amendments.

Dated at Waterbury, Connecticut the            day of      , 20 .

	 	 	 
	ATTEST:

	 	WEBSTER BANK, NATIONAL ASSOCIATION
	 
	 	 
	
 
	 	By
	 

	 	 
	 
	 	 
	Its Secretary

	 	Title:EX-10.2

Exhibit 10.2

AMENDMENT NO. 2

TO THE

WEBSTER BANK

AMENDED AND RESTATED DEFERRED COMPENSATION PLAN

FOR DIRECTORS AND OFFICERS

The Webster Bank Amended and Restated Deferred Compensation Plan for Directors and Officers,
as amended and restated effective as of January 1, 2004, is hereby amended as follows:

(1) Effective as of May 1, 2007, Section 4.6 of the Plan is amended to read as follows:

4.6 Accounting for Deferred Compensation.

(a) A Participant’s Deferred Compensation shall be credited by the Corporation, the Bank or an
Affiliate (as applicable) to one of two Bookkeeping Reserve Accounts maintained for each
Participant. Any deferrals with respect to which the Participant elects installment distributions
pursuant to Section 4.5 shall be credited to the Installment Account, while all other deferrals
shall be credited to the Regular Account. A deferral shall be credited to the appropriate
Bookkeeping Reserve Account at the end of the calendar month with respect to which the deferral is
made. A payment to a Participant or Beneficiary shall be charged to the appropriate Bookkeeping
Reserve Account as of the time the payment is made.

(b) (i) With respect to any Deferred Compensation credited to a Participant’s Bookkeeping
Reserve Accounts on or after January 1, 2004, the Participant’s Deferred Compensation shall
be credited with earnings and losses in the same manner as if the Deferred Compensation were
actually invested in one or more of the investment options offered under the 401(k) Plan and
elected by the Participant; provided, however, that: (A) the Fidelity Managed Income
Portfolio shall not be deemed to be an investment option available under the 401(k) Plan;
(B) the Webster Stock Fund shall not be deemed to be an investment option available under
the 401(k) Plan, except that the Webster Stock Fund shall be deemed to be an investment
option available under the 401(k) Plan for the Chairman and Chief Executive Officer, the
President and Chief Operating Officer, and the Chief Financial Officer of the Bank effective
on and after May 1, 2007; and (C) a Fidelity money market fund shall be deemed to be an
investment option available under the 401(k) Plan.

(ii) If a Participant’s Deferred Compensation is credited with earnings and losses
pursuant to the provisions of Section 4.6(b)(i), the Participant may specify the percentage
of such Deferred Compensation to be credited to the Plan on his or her behalf, or the
percentage of his or her Bookkeeping Reserve Accounts attributable to such Deferred
Compensation, which will be credited with earnings and losses based on the investment
options selected by the Participant. The Participant may change his or her election at any
time by providing notice to the Committee (or its delegated representative), and any such
change shall be effective as soon as practicable after it is received by the Committee (or
its delegated representative). Any change in a Participant’s election shall be effective on
a prospective basis only.

(c) (i) With respect to any Deferred Compensation credited to a Participant’s Bookkeeping
Reserve Accounts prior to January 1, 2004, interest (compounded monthly) shall be added to
the balance credited to the Bookkeeping Reserve Accounts from time to time: (A) as of the
last day of each calendar year during the period beginning when the Deferred Compensation
was first so credited, and ending on the last day of the calendar year preceding the date
described in (B); and (B) as of the date of distribution of a final installment payment
(pursuant to Section 5.1(b), Section 5.3 or Section 5.5) or a lump sum payment (pursuant to
Section 5.1(a), Section 5.2, Section 5.3, Section 5.4 or Section 5.5) of the amounts
credited to the Participant’s Bookkeeping Reserve Accounts. The rate of interest is the
interest rate on ten year United States Treasury obligations, as reported from time to time
in The Wall Street Journal, plus 100 basis points, adjusted monthly.

(ii) Notwithstanding the provisions of Section 4.6(c)(i), a Participant who had not
commenced to receive his or her Deferred Compensation prior to January 1, 2004 was permitted
to elect to have any Deferred Compensation credited to his or her Bookkeeping Reserve
Accounts prior to January 1, 2004 credited with earnings and losses pursuant to the
provisions of Section 4.6(b)(i) rather than being credited with interest pursuant to the
provisions of Section 4.6(c)(i). Any such election had to be made within the thirty day
period preceding January 1, 2004, and is irrevocable.

(2) Effective as of May 1, 2007, the following Section 5.6 is added to the Plan:

5.6 Medium of Payment. Amounts paid under this Article V shall be paid in cash except
that, prior to the commencement of payments, at the election of the Chairman and Chief Executive
Officer, President and Chief Operating Officer, or Chief Financial Officer, or his or her
Beneficiary if payments have not commenced upon his or her death, the portion, if any, of
Bookkeeping Reserve Accounts that is then credited with earnings and losses based on the value of
Webster Financial Corporation common stock shall be distributed in shares of such common stock.

(3) All section numbers and cross references thereto are appropriately amended to effectuate
the intention of the foregoing amendments.

Dated at Waterbury, Connecticut the            day of      , 20 .

	 	 	 
	ATTEST:

	 	WEBSTER BANK, NATIONAL ASSOCIATION
	 
	 	 
	
 
	 	By
	 

	 	 
	 
	 	 
	Its Secretary

	 	Title:

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