2015 DIRECTORS FEES (Revised to reflect an increase in Deferred Stock Units)
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 |
(1) | 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.