EX-10.2 2 lnc-20220630xex10_2.htm EX-10.2

EXHIBIT 10.2

NON-EMPLOYEE DIRECTOR FEES
(Effective May 27, 2022)

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﻿ |  |  |  |
﻿ | Non-Executive Chairman |  |  |
﻿ | Annual Retainer (Cash) | $375,000 |  |
﻿ | Deferred LNC Stock Units | $150,000 |  |
﻿ | Total Non-Executive Chairman Fees | $525,000 |  |
﻿ |  |  |  |
﻿ | Lead Independent Director |  |  |
﻿ | Annual Retainer (Cash) | $110,000 |  |
﻿ | Deferred LNC Stock Units | $225,000 |  |
﻿ | Total Lead Independent Director Fees | $335,000 |  |
﻿ |  |  |  |
﻿ | Directors other than Non-Executive Chairman and Lead Independent Director |  |  |
﻿ | Annual Retainer (Cash) | $110,000 |  |
﻿ | Deferred LNC Stock Units* | $165,000 |  |
﻿ | Total Board Fees | $27 5,000 |  |
﻿ |  |  |  |
﻿ | Committees (Cash) |  |  |
﻿ | Audit Committee Chair | $35,000 |  |
﻿ | Audit Committee Member | $10,000 |  |
﻿ | Compensation Committee Chair | $25,000 |  |
﻿ | Other Committee Chair | $20,000 |  |

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* | 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 and, for partial service during the year, fees are paid on a pro-rata basis.

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