2013 Director Compensation Schedule for Lincoln National Corporation Board Members

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the 2013 compensation structure for directors of Lincoln National Corporation. Directors receive an annual retainer of $232,000, split among cash, stock options, and deferred stock units. Additional fees are provided for serving as Non-Executive Chairman, committee chairs, audit committee members, and lead director. Directors may choose to defer cash fees under the company's Deferred Compensation Plan. Extra meeting fees may apply for unscheduled meetings, and all payments are made quarterly.

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EX-10.9 2 exhibit109.htm EXHIBIT 10.9 exhibit109.htm
EXHIBIT 10.9
 
2013 DIRECTOR FEES
(Revised to reflect an increase in Deferred Stock Units)
 
     
Retainer Fee:
  
$232,000/per year
Cash: $86,000
Stock Options: $43,000
Deferred Stock Units*: $103,000
   
Non-Executive Chairman of the Board Fee:
  
$200,000/per year in Deferred Stock Units
   
Committee Chair Fee for Compensation, CGC and Finance Committees:
  
$10,000/per year
   
Audit Committee Chair Fee:
  
$20,000/per year
   
Audit Committee Member Retainer Fee:
  
$5,000/per year
   
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.