2016 DIRECTOR FEES (Revised to reflect an increase in Deferred Stock Units)
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.
