2015 Directors Fees Schedule for Lincoln National Corporation Board Members

Summary

This document outlines the 2015 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. Directors may choose to defer cash fees under the company's Deferred Compensation Plan. Extra meeting fees may apply for unscheduled meetings. All payments are made quarterly. The agreement sets out the terms and conditions for director compensation for the specified year.

EX-10.6 5 lnc-20141231ex106100592.htm EX-10.6 Exhibit 106

Exhibit 10.6

2015 DIRECTORS FEES

(Revised to reflect an increase in Deferred Stock Units)



Retainer Fee:	$247,000 per year
	Cash: $86,000
	Deferred Stock Units (1): $161,000

Non-Executive Chairman of the Board Fee:	$200,000 per year in Deferred Stock Units

Committee Chair Fee for Compensation, Corporate	$10,000 per year
Governance and Finance Committees:

Audit Committee Chair Fee:	$30,000 per year

Audit Committee Member Retainer Fee:	$10,000 per year

Lead Director Retainer Fee:	$25,000 per year

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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.