Lincoln National Corporation Non-Employee Director Compensation Schedule (Effective January 1, 2019)
This document outlines the compensation structure for non-employee directors of Lincoln National Corporation, effective January 1, 2019. It specifies annual retainers, deferred stock units, and additional fees for committee roles. Directors can choose to defer cash fees under the company's Deferred Compensation Plan. Extra meeting fees may apply for meetings beyond the regular schedule. All payments are made quarterly. The agreement ensures directors are compensated for their service and committee participation.
EXHIBIT 10.5
NON-EMPLOYEE DIRECTOR FEES
(Effective beginning January 1, 2019)
| |
|
| Directors other than |
|
| Annual Retainer (Cash) | $110,000 |
| Deferred LNC Stock Units* | $165,000 |
| Total Board Fees | $275,000 |
| |
|
| Non-Executive Chairman |
|
| Annual Retainer (Cash) | $120,000 |
| Deferred LNC Stock Units | $376,000 |
| Total Non-Executive Chairman Fees | $496,000 |
| |
|
| 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.
