X0202 4 2006-01-12 0000059558 LINCOLN NATIONAL CORP LNC 0001078564 LACHMAN M LEANNE CENTRE SQUARE-WEST TOWER 1500 MARKET ST., SUITE 3900 PHILADELPHIA PA 19102 1 0 0 0 Employee Stock Option (Right to Buy) 43.48 2006-01-12 4 D 0 3000 D 2011-03-08 Common Stock 3000 0 D Employee Stock Option (Right to Buy) 43.48 2006-01-12 4 A 0 3000 A 2011-03-08 Common Stock 3000 3000 D Employee Stock Option (Right to Buy) 52.10 2006-01-12 4 D 0 3000 D 2012-03-14 Comon Stock 3000 0 D Employee Stock Option (Right to Buy) 52.10 2006-01-12 4 A 0 3000 A 2012-03-14 Common Stock 3000 3000 D Employee Stock Option (Right to Buy) 25.11 2006-01-12 4 D 0 3000 D 2013-03-13 Common Stock 3000 0 D Employee Stock Option (Right to Buy) 25.11 2006-01-12 4 A 0 3000 A 2013-03-13 Common Stock 3000 3000 D Employee Stock Option (Right to Buy) 47.58 2006-01-12 4 D 0 3000 D 2014-03-11 Common Stock 3000 0 D Employee Stock Option (Right to Buy) 47.58 2006-01-12 4 A 0 3000 A 2014-03-11 Common Stock 3000 3000 D The two reported transactions involved an amendment of an outstanding option to permit the reporting person to exercise under circumstances for three months after board service, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on March 8, 2001 and provides for vesting in four equal annual installments commencing on March 8, 2002. The two reported transactions involved an amendment of an outstanding option to permit the reporting person to exercise under circumstances for three months after board service, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on March 14, 2002 and provides for vesting in four equal annual installments commencing on March 14, 2003. The two reported transactions involved an amendment of an outstanding option to permit the reporting person to exercise under circumstances for three months after board service, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on March 13, 2003 and provides for vesting in four equal annual installments commencing on March 13, 2004. The two reported transactions involved an amendment of an outstanding option to permit the reporting person to exercise under circumstances for three months after board service, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on March 11, 2004 and provides for vesting in four equal annual installments commencing on March 11, 2005. /s/ C. Suzanne Womack, Attorney-in-Fact 2006-01-17