Non-Employee Director Fees are
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.
