Exhibit 10.5

2014 DIRECTORS FEES

(Revised to reflect the elimination of Stock Options and
an increase in Deferred Stock Units and Audit Committee Fees)

Retainer Fee:	$232,000 per year
	Cash:  $86,000
	Deferred Stock Units (1):  $146,000
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.