Lincoln National Corporation Non-Employee Director Compensation
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EX-10.1 2 ex10-1.htm EXHIBIT 10.1 Exhibit 10.1
Exhibit 10.1
Lincoln National Corporation
Board of Directors
Non-Employee Director Compensation
Beginning January 1, 2007
1. | An annual retainer of $172,000, evenly split between cash and equity; |
2. | For service as a Committee Chair, an annual retainer fee of $10,000; except that the Audit Committee Chair annual retainer fee will be $20,000; |
3. | For service as an Audit Committee member, an additional annual retainer fee of $5,000; and |
4. | For service as Lead Director, the current annual retainer fee of $25,000 will be maintained. |
In addition, meeting fees may be paid in some cases for meetings which exceed the number of annually scheduled meetings ($1,100 per meeting) as determined by the Corporate Governance Committee. All fees will be payable to the directors on a quarterly basis in arrears.
Finally, the Chief Executive Officer is authorized, in his discretion, to reimburse non-employee directors for expenses reasonably incurred in attending Board or Committee meetings, including, but not limited to, expenses related to traveling to and from the meetings.