Exhibit 10.5

 

2017 DIRECTOR FEES

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

 

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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

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*

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.

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