Lincoln National Corporation Non-Employee Directors Compensation Schedule (Effective July 1, 2004)

Summary

This document outlines the compensation structure for non-employee directors of Lincoln National Corporation, effective July 1, 2004. Non-employee directors receive an annual retainer of $80,000 in cash and $80,000 in deferred stock units, with additional fees for committee chairpersons ($5,000) and the lead director ($25,000). The deferred stock units are credited under the company's Deferred Compensation Plan. No meeting fees are provided. The total annual compensation varies depending on additional roles held by each director.

EX-10.CC 7 dex10cc.htm LNC NON-EMPLOYEE DIRECTORS COMPENSATION, EFFECTIVE JULY 1, 2004 LNC Non-Employee Directors Compensation, Effective July 1, 2004

EXHIBIT 10(cc)

LNC Non-Employee Directors Compensation

Effective July 1, 2004

Annual Retainer:

•

$80,000 in cash

•

$80,000 in Deferred Stock Units¹

Annual Committee Chairperson Fee:

•

$5,000 in cash

No Meeting Fees

Annual Lead Director Fee:

•

$25,000 in cash

TOTAL ANNUAL COMPENSATION: $160,000²

¹	Automatically credited in stock units under the Lincoln National Corporation Deferred Compensation Plan for Non-Employee Directors.

²	This figure does not include any Annual Committee Chairperson Fees ($5,000) or any Annual Lead Director Fee ($25,000) that may apply, as such fees vary among the individual Directors.