People's United Financial, Inc. (the "Company") Certificate of Incorporation provides for the election of directors by the Company's shareholders (or by the Board of Directors under certain circumstances). The Certificate of Incorporation also provides that nominations for election to the Company's Board of Directors may be made only by the Board of Directors or by registered shareholders (i.e. shareholders of record).
The Nominating and Corporate Governance Committee of the Board of Directors (the "Committee") serves as the nominating committee with respect to nominations to the Company's Board of Directors. In its capacity as nominating committee, the Committee receives and evaluates proposed nominations to the Board of Directors, including nominations properly proposed by shareholders, and selects nominees to be presented for election to the Board of Directors.