WBS » Topics » Role of Compensation Consultant

This excerpt taken from the WBS DEF 14A filed Mar 20, 2009.

Role of Compensation Consultant

In carrying out its responsibilities, the Compensation Committee typically engages an outside compensation consultant to offer market perspectives on annual pay, current executive compensation trends and compensation programs currently in place at Webster. The Committee has the authority to hire and fire the consultant and determine the nature and scope of the consultant’s assignments. During 2008, the Committee engaged Hewitt Associates as outside compensation consultant. At the direction of the Compensation Committee, Hewitt reviewed management’s proposals to the Committee regarding executive compensation programs and arrangements, in particular the annual and long-term incentive programs. Hewitt also reviewed the Committee’s decision-making process, Webster’s executive talent strategies, and the competitive landscape. The Committee weighs the consultant’s perspective as part of its decision making process, and in turn may ask the consultant to communicate the Committee’s preferences, perspectives, and decision-making parameters to management. The Committee communicates compensation decisions directly to management. Hewitt did not determine the amount or form of compensation paid to Webster’s executive officers or directors during 2008.

"Role of Compensation Consultant" elsewhere:

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