EX-10.5 4 c558-20131231ex105ba535e.htm EX-10.5 Exhibit 10.5


Exhibit 10.5



(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





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.