EX-10.5 2 lnc-20161231xex10_5.htm EX-10.5 Exhibit 105

Exhibit 10.5

 

2017 DIRECTOR FEES

(Revised to reflect an increase in the Cash Portion of the Retainers and the Non-Executive Chair Fee)

 



 

 

   

   

   

Retainer Fee:

  

$247,000/per year

Non-Executive Chairman of the Board Cash: $120,000

Other Board Member Cash: $100,000

Deferred Stock Units*: $161,000

   

   

Non-Executive Chairman of the Board Fee:

  

$215,000/per year in Deferred Stock Units

   

   

Committee Chair Fee for Compensation, Corporate Governance and Finance Committees:

  

$20,000/per year

   

   

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



 



 

*

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.