Non-Employee Director Fees (effective January 1, 2024) are

EX-10.4 2 exhibit104-lnc.htm EX-10.4 Document

EXHIBIT 10.4
 
NON-EMPLOYEE DIRECTOR FEES
(Effective January 1, 2024)
 
Lead Independent Director
Annual Retainer (Cash)$110,000
Deferred LNC Stock Units$240,000
Total Lead Independent Director Fees$350,000
Non-Employee Directors other than
Lead Independent Director
Annual Retainer (Cash)$110,000
Deferred LNC Stock Units*$180,000
Total Board Fees$290,000
Committees (Cash)
Audit Committee Chair$35,000
Audit Committee Member$10,000
Compensation Committee Chair$25,000
Other Committee Chair$20,000

*Deferred LNC Stock Units are “phantom” units of LNC Common Stock that are credited under the LNC Directors’ Deferred Compensation Plan.
 
All cash fees may be deferred, at a Director’s election, pursuant to the LNC Directors’ Deferred Compensation Plan.
 
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 are paid to the directors on a quarterly basis in arrears and, for partial service during the year, fees are paid on a pro-rata basis.