EXHIBIT 10.5

 

NON-EMPLOYEE DIRECTOR FEES

 

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2018

2019

Directors other than
Non-Executive Chairman

 

 

Annual Retainer (Cash)

$100,000

$110,000

Deferred LNC Stock Units*

$161,000

$165,000

Total Board Fees

$261,000

$275,000

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Non-Executive Chairman

 

 

Annual Retainer (Cash)

$120,000

$120,000

Deferred LNC Stock Units

$376,000

$376,000

Total Non-Executive Chairman Fees

$496,000

$496,000

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Committees (Cash)

 

 

Audit Committee Chair

$30,000

$35,000

Audit Committee Member

$10,000

$10,000

Compensation Committee Chair

$20,000

$25,000

Other Committee Chair

$20,000

$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.

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