Lincoln National Corporation 2017 Director Compensation Schedule
This document outlines the 2017 compensation structure for directors of Lincoln National Corporation. It specifies annual cash retainers and deferred stock unit awards for board members, including additional fees for the Non-Executive Chairman, committee chairs, audit committee members, and the lead director. Directors may elect to defer cash fees under the company's Deferred Compensation Plan. Extra meeting fees may apply for meetings beyond the scheduled number. All payments are made quarterly in arrears.
Exhibit 10.5
2017 DIRECTOR FEES
(Revised to reflect an increase in the Cash Portion of the Retainers and the Non-Executive Chair Fee)
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| Retainer Fee: |
| $247,000/per year Non-Executive Chairman of the Board Cash: $120,000 Other Board Member Cash: $100,000 Deferred Stock Units*: $161,000 |
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| Non-Executive Chairman of the Board Fee: |
| $215,000/per year in Deferred Stock Units |
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| Committee Chair Fee for Compensation, Corporate Governance and Finance Committees: |
| $20,000/per year |
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| Audit Committee Chair Fee: |
| $30,000/per year |
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| Audit Committee Member Retainer Fee: |
| $10,000/per year |
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| Lead Director Retainer Fee: |
| $25,000/per year |
| * | Deferred 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.
