EXHIBIT 10.5
NON-EMPLOYEE DIRECTOR FEES
(Effective beginning January 1, 2019)
|
|
|
|
Directors other than |
|
|
Annual Retainer (Cash) |
$110,000 |
|
Deferred LNC Stock Units* |
$165,000 |
|
Total Board Fees |
$275,000 |
|
|
|
|
Non-Executive Chairman |
|
|
Annual Retainer (Cash) |
$120,000 |
|
Deferred LNC Stock Units |
$376,000 |
|
Total Non-Executive Chairman Fees |
$496,000 |
|
|
|
|
Committees (Cash) |
|
|
Audit Committee Chair |
$35,000 |
|
Audit Committee Member |
$10,000 |
|
Compensation Committee Chair |
$25,000 |
|
Other Committee Chair |
$20,000 |
|
* |
Deferred LNC 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.