2016 Director Compensation Schedule for Lincoln National Corporation Board
This document outlines the 2016 compensation structure for directors of Lincoln National Corporation. Directors receive an annual retainer of $247,000, split between cash and Deferred Stock Units, with additional fees for serving as Non-Executive Chairman, committee chairs, or lead director. Deferred Stock Units are credited under the company's Deferred Compensation Plan, and directors may elect to defer cash fees. Extra meeting fees may apply for unscheduled meetings. All payments are made quarterly.
EXHIBIT 10.5
2016 DIRECTOR FEES
(Revised to reflect an increase in Deferred Stock Units)
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| Retainer Fee: |
| $247,000/per year Cash: $86,000 Deferred Stock Units*: $161,000 |
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| Non-Executive Chairman of the Board Fee: |
| $200,000/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.
