2013 DIRECTOR FEES (Revised to reflect an increase in Deferred Stock Units)

Contract Categories: Business Finance - Stock Agreements
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.