Lincoln National Corporation 2011 Director Compensation Schedule

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the 2011 compensation structure for directors of Lincoln National Corporation. Directors receive an annual retainer of $207,000, paid in a mix of cash, stock options, and deferred stock units. The Non-Executive Chairman receives an additional $200,000 in deferred stock units. Committee chairs and members receive extra annual fees, and the Lead Director receives a retainer. Directors may defer cash fees under the company's Deferred Compensation Plan. Additional meeting fees may apply for extra meetings, and all payments are made quarterly.

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EX-10.1 2 dex101.htm LINCOLN NATIONAL CORP--2011 DIRECTOR FEES dex101.htm
EXHIBIT 10.1
 
2011 DIRECTOR FEES
(Revised to include a fee for the Non-Executive Chairman)
 
     
Retainer Fee:
  
$207,000/per year
Cash: $86,000
Stock Options: $43,000
Deferred Stock Units*: $78,000
   
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.