This excerpt taken from the CB DEF 14A filed Mar 19, 2009.
Changes in Director Compensation Policies for 2009
In February 2009, our Board approved The Chubb Corporation Long-Term Stock Incentive Plan (2009) (the 2009 Stock Plan) subject to shareholder approval at the 2009 Annual Meeting. If our shareholders approve the 2009 Stock Plan, beginning in 2009, we expect that each of our non-employee directors will receive an annual equity award in the form of deferred stock units, instead of the performance units and stock units awarded under the 2004 Director Plan discussed above. Information regarding the deferred stock units is set forth under the heading Proposal 2 Adoption of The Chubb Corporation Long-Term Incentive Plan (2009). We expect that the fair market value of these awards will remain approximately $100,000 per non-employee director.