Document:

Amended and Restated Executive Special Supplemental Benefit

 Exhibit 10.53 
 EXECUTIVE SPECIAL SUPPLEMENTAL BENEFIT 
 Amendment & Restatement Effective
November 5, 2007 
 (except as otherwise indicated) 
 The Compensation Committee of the Board of Directors of Lincoln National Corporation (“Company”) believes that it is in the best interest of the Company to amend and restate the Executive Special
Supplemental Benefit (the “ESSB”) under the terms of the Jefferson-Pilot Corporation Supplemental Benefit Plan, or any successor thereto (the “Supplemental Plan”), effective November 5, 2007, and then to terminate the ESSB
effective December 31, 2007. The ESSB was originally effective December 1, 1993, as amended from time to time, and is a program providing enhanced retirement benefits to former members of Jefferson-Pilot Corporation’s management team,
some of whom are currently members of the Company’s Senior Management Team. These select individuals (hereinafter called “Participants”) earn and accrue enhanced retirement benefits under the terms and conditions of the ESSB set forth
below. 
 The ESSB is intended (1) to comply with Internal Revenue Code section 409A and official guidance issued thereunder, and (2) to be “a
plan which is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees” within the meaning of sections 201(2), 301(a)(3) and
401(a)(1) of ERISA. Notwithstanding any other provision of this Plan, this Plan shall be interpreted, operated and administered in a manner consistent with these intentions. 
  

	A.	Eligibility: 

 The ESSB was frozen to new participants as of
April 3, 2006. Participants currently participating in the Plan are listed on the attached Appendix A. 
  

	B.	Benefit Amount: 

 The amount of the ESSB payable to a
Participant will be the monthly retirement benefit as computed under Subparagraph B(1) below, reduced by the monthly retirement benefit as computed under Subparagraph B(2) below. If the benefit provided by (2) is larger than (1), then no
Executive Special Supplemental Benefit is payable to the Participant. 
  

	 	(1)	The monthly retirement benefit provided by multiplying (a) 2.5% for each year of service, with years of service limited to twenty (and thus the percentage derived therefrom
limited to 50%) by (b) the Participant’s final average monthly earnings for the five-year period ending with the Participant’s retirement date. For this purpose, final average monthly earnings means salary and incentive compensation
paid under the terms of the Company’s Annual Incentive Bonus Plan (with the latter limited to incentive compensation attributable to fiscal year 1993 and thereafter). Earnings shall not include long-term incentive compensation or the value of
any stock grants, stock options or other extraordinary forms of compensation. Years of service shall be computed from date of employment; partial years shall be recognized proportionately based on a 365-day year. 

 Example: The Participant retires on his 65th birthday with 13.4 years of service. The monthly benefit computed under this paragraph would be 13.4 x 2.5%, or a monthly benefit of 33.5% of final average monthly earnings.

  

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	 	(2)	The sum of the monthly retirement benefits provided to the Participant by the Jefferson-Pilot Corporation Employees’ Retirement Plan, and the monthly retirement benefits
provided to the Participant under the Supplemental Plan. 

 Any ESSB benefit described
in Subparagraphs (1) and (2) above is expressed in terms of a monthly life only annuity benefit commencing on the Participant’s normal benefit commencement date (the first of the month following the Participant’s 65th birthday). 
 Converted ESSB Opening Balances. Effective
December 31, 2007, the benefit of each actively employed Participant participating in the ESSB as of 11:59 p.m. on that date, earned through December 31, 2007, shall be converted to a present value lump sum, calculated pursuant to the
applicable provisions of the Lincoln National Corporation Deferred Compensation & Supplemental/Excess Retirement Plan (the “DC SERP”), and contributed to the DC SERP. Notwithstanding the foregoing, this paragraph shall not apply
with respect to any Participant who experiences a Separation from Service on or before December 31, 2007. “Separation from Service” or “Separate from Service,” as used in this ESSB plan document, means a “separation
from service” within the meaning of Code section 409A. Such Participants shall receive or continue to receive distributions under the ESSB pursuant to Section G below, the specifics of such distributions depending on the date of the
Participant’s Separation from Service, and whether or not they made Initial and/or Secondary Elections pursuant to Section G below. 
  

	C.	Minimum Service Conditions: 

  

	 	(1)	Due to the change of control of Jefferson-Pilot Corporation on April 3, 2006, all Participants actively employed on that date were vested in their ESSB benefits.

  

	 	 (2)
	 If the Participant’s service terminates on or after his or her 60th birthday, but before the first of the month following his or her 65th birthday,
the ESSB benefit payable to the Participant shall be reduced by 3% for each year (and by a proportionate amount for any partial year based on a 365-day year) by which the benefit commencement date precedes the first of the month following his or her
65th birthday. 

  

	D.	Death: 

  

	 	 (1)
	 Should the Participant die on or after his or her 55th birthday while actively employed by the Company, the Participant’s surviving spouse shall be entitled to receive a survivor annuity equal to the amount which would have been
payable to the Participant had the Participant terminated service on the day prior to death and elected payment of the ESSB in the form of a joint and 50% survivor annuity commencing on the first of the month following the date of death. The
applicable factor as provided in the table below shall be applied to the Participant’s benefit amount as described in Subparagraph B (above) at the time of death. Should the Participant die before his or her 55th birthday, the Participant’s benefit shall be further actuarially reduced based on the interest rate and mortality table basis used for calculating lump
sum payments in the Jefferson-Pilot Employees’ Retirement Plan (Section 1.3). Should a Participant die without a surviving spouse, no ESSB will be payable. 

  

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	 Participant’s Age
	  	 Applicable Factor

	 65
	  	100%
	 64
	  	97%
	 63
	  	94%
	 62
	  	91%
	 61
	  	88%
	 60
	  	85%
	 59
	  	82%
	 58
	  	79%
	 57
	  	76%
	 56
	  	73%
	 55
	  	70%

  

	 	(2)	Should the Participant die after commencement of payment of an ESSB benefit, the form of payment will determine whether there are any survivor benefits payable, and, if there are,
the amount and extent thereof (e.g., a stream of benefits commenced before death, but not completely paid out, may continue to be paid to the Participant’s surviving spouse). 

  

	E.	Disability: 

  

	 	(1)	If the Participant Separates from Service within the meaning of Code section 409A by reason of Disability under section 1.18 of the Jefferson-Pilot Corporation Employees’
Retirement Plan between the ages of 55 and 59, the ESSB payable to the Participant shall be the benefit as described in Section B and, reduced in accordance with the table directly below based on the Participant’s age at the time benefit
payments commence: 

  

			
	 Participant’s Age
	  	 Applicable Factor

	 59
	  	82%
	 58
	  	79%
	 57
	  	76%
	 56
	  	73%
	 55
	  	70%

  

	 	(2)	If the Participant Separates from Service within the meaning of Code section 409A by reason of Disability under Section 1.18 of the Jefferson-Pilot Corporation Employees’
Retirement Plan and payments commence before age 55, the ESSB payable to the Participant shall be further actuarially reduced based on the interest rate and mortality table basis used for calculating lump sum payments under the Jefferson-Pilot
Corporation Employees’ Retirement Plan (Section 1.3), set forth in Section D above. 

  

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	F.	Forfeiture: 

 Benefits which would otherwise be
payable under the ESSB will be forfeited if the Participant, while employed by the Company, or after his or her Separation from Service: 
  

	 	(a)	Is convicted of or pleads guilty to any act of fraud or embezzlement, 

  

	 	(b)	Engages in any conduct or activity involving moral turpitude which is materially damaging to the property, business or reputation of the Company, 

  

	 	(c)	Misappropriates any property of the Company or appropriates for his or her personal gain any corporate opportunity of the Company, 

  

	 	(d)	Divulges Company proprietary information to competitors, or 

  

	 	(e)	Assumes a position with a competitor of the Company as an employee or consultant which, in the opinion of the Committee, would be detrimental to the interest of the Company or would
place the Participant in a likely conflict of interest. 

  

	G.	Benefit Commencement Date and Form of Distribution: 

  

	 	(1)	Form of Distribution. 

 For Participants who
experience a Separation from Service on or before December 31, 2007, any benefit payable to the Participant or the Participant’s spouse or beneficiary under the ESSB shall be paid in the form elected by the Participant in a valid election
no later than the Participant’s Separation from Service. Available forms include a lump sum or any annuity form available under the Jefferson-Pilot Corporation Employees’ Retirement Plan. 
 For Participants actively employed by the Company as of 11:59 p.m. on December 31, 2007, the actuarially equivalent lump sum or “converted ESSB
benefit” shall be credited to the Participant’s ESSB Opening Balance account in the DC SERP and paid according to the terms of the DC SERP. 
 Election forms shall be submitted in the form required by the Lincoln National Corporation Benefits Committee, the administrator of the ESSB. An election regarding form of benefit is not valid unless it is made at
least 366 days prior to the benefit commencement date. In the case a valid election cannot or has not been made, the default form of payment shall be a cash lump sum. 
 Participants may have the opportunity to elect to change their form of distribution pursuant to Section G(4) below. 
  

	 	(2)	Benefit Commencement Date. 

 For Participants who
experience a Separation from Service on or before December 31, 2007, their ESSB benefit shall be valued as of the later of: (a) age 60, or (b) the first day of the month following the date of Separation from Service, and shall
be paid as soon as practicable thereafter (but in no event later than 90 days from the applicable date). 
  

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 Participants may have an opportunity to change their benefit commencement date as described above
pursuant to Section G(4) below. 
  

	 	(3)	Form and Time of Payment in the Case of Participant’s Death Prior to Benefit Commencement. Any ESSB benefit payable to the spouse of the Participant upon his death under
subparagraph D(1) shall be calculated under Section B and converted to a lump sum in accordance with Section 1.3 of the Jefferson-Pilot Employees’ Retirement Plan as soon as administratively practicable (but in all events within 90 days of
death), unless the Participant had already made a valid election as to form of distribution as described in G(1) above prior to his death. 

  

	 	(4)	Secondary or Re-Deferral Elections. A Participant may make only one Secondary or “Re-Deferral” Election to change the benefit commencement date and form of
distribution. A Secondary or Re-Deferral Election is not valid unless it meets the following three conditions: (i) it must be made at least 366 days prior to the original benefit commencement date, (ii) it must delay the benefit
commencement date by a minimum of five (5) years, and (iii) in no event may such election defer the benefit commencement date beyond the date that the Participant attains age 65. Secondary or “Re-Deferral” Elections may be
permitted for converted ESSB benefits pursuant to the terms of the DC SERP. 

  

	 	(5)	Key Employees. In the event that a Participant is a Key Employee as of the date of his Separation from Service, the distributions to such Participant shall commence no
earlier than six (6) months following the date of his Separation from Service (or, if earlier, the date of the Participant’s death). Interest shall be paid on benefit amounts during the period of delay at the rate of 10% per annum.

  

	H.	Intent and Purpose: 

 The Committee intends for the ESSB to
constitute a Special Supplemental Benefit as defined in the Supplemental Plan, and the same shall be subject to the additional terms and conditions of the Supplemental Plan which are applicable to a Special Supplemental Benefit, to the extent those
terms do not contradict the terms of the ESSB. 
 IN WITNESS WHEREOF, the President and Chief Executive Office of the Corporation has executed this
amendment, restatement, and termination of the Plan as of this _____ day of ______________, 2007. 
  

			
	LINCOLN NATIONAL CORPORATION
		
	 	 	 
	By:	 	Dennis R. Glass
	Its:	 	President and Chief Executive Officer

  

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 APPENDIX A 
 Participants in the Executive Special Supplemental Benefit Plan, as of February 22, 2007: 
 Reggie Adamson 
 Robert Benson 
 Charles Cornelio 
 Dennis Glass 
 Mark Konen 
 John Shreves 
  

 - 6 -9.375% Capital Securities Note

 Exhibit 4.11 
  
 THIS CAPITAL SECURITY IS A GLOBAL CERTIFICATE WITHIN THE MEANING OF THE TRUST AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE
NAME OF THE DEPOSITARY TRUST COMPANY (THE “DEPOSITARY”) OR A NOMINEE OF THE DEPOSITARY, THIS CAPITAL SECURITY IS EXCHANGEABLE FOR CAPITAL SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE TRUST AGREEMENT AND NO TRANSFER OF THIS CAPITAL SECURITY (OTHER THAN A TRANSFER OF THIS CAPITAL SECURITY AS A WHOLE BY THE DEPOSITARY TOA NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN SUCH LIMITED CIRCUMSTANCES. 
  
 UNLESS THIS CAPITAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO SUSQUEHANNA CAPITAL I OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CAPITAL SECURITY ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN. 
  

			
	 Certificate No.:
	 	Number of Capital Securities:                
	 T-1
	 	5,000,000

  
 Aggregate Liquidation
Amount of Capital Securities: $125,000,000 
  
 CUSIP
No. 86910P201 
  
 Certificate Evidencing Capital Securities

  
 Of 
  
 Susquehanna Capital I 
  
 9.375% Capital Securities, Series I 
  
 (Liquidation Amount $25.00 per Capital Security) 
  
 Susquehanna Capital I, a statutory trust created under the laws of the State
of Delaware (the “Trust”), hereby certifies that Cede & Co. (the “Holder”) is the registered owner of preferred 

 
securities in the aggregate liquidation amount of $125,000,000 of the Trust representing an undivided beneficial ownership interest in the assets of the
Trust and designated the Susquehanna Capital I 9.375% Capital Securities, Series I (liquidation amount $25.00 per Capital Security) (the “Capital Securities”). The Capital Securities are transferable on the books and records of the Trust,
in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer as provided in Section 5.4 of the Trust Agreement (as defined below). The designations, rights, privileges,
restrictions, preferences and other terms and provisions of the Capital Securities are set forth in, and this certificate and the Capital Securities represented hereby are issued and shall in all respects be subject to, the terms and provisions of,
the Amended and Restated Trust Agreement of the Trust, dated as of December 12, 2007, as the same may be amended from time to time (the “Trust Agreement”), including the designation of the terms of Capital Securities as set forth
therein. The Holder is entitled to the benefits of the Guarantee Agreement entered into by Susquehanna Bancshares, Inc. a Pennsylvania corporation (“Susquehanna”), and The Bank of New York, a New York banking corporation (“The Bank of
New York”), as guarantee trustee, dated as of December 12, 2007, as amended from time to time (the “Guarantee”), to the extent provided therein. The Trust will furnish a copy of the Trust Agreement and the Guarantee to the Holder
without charge upon written request to the Trust at its principal place of business or registered office. 
  
 Upon receipt of this certificate, the Holder is bound by the Trust Agreement and is entitled to the benefits thereunder and by acceptance hereof agrees to
the provisions of (i) the Guarantee and (ii) the Indenture entered into by Susquehanna and The Bank of New York, as trustee, dated as of November 5, 2007, as amended or supplemented from time to time. 
  
 This certificate shall be governed by and construed in accordance with the
laws of the State of Delaware. 
  
 [Remainder of page left
intentionally blank] 
  
  

 IN WITNESS WHEREOF, one of the Administrative Trustees of the Trust has executed this certificate.

  

			
	 SUSQUEHANNA CAPITAL I

		
	By:	 	 /s/ Michael P. Squierdo

		 	 Name: Michael P. Squierdo
 Title: Administrative Trustee

  
 This is one of the Securities referred to in the within mentioned Trust Agreement. 
  
 Date of Authentication 
  
 December 12, 2007 
  
 THE BANK OF NEW YORK 
 As Property Trustee 
  

			
	
		
	By:	 	 /s/ Mary LaGumina

		 	 Name: Mary LaGumina
 Title: Vice President

 ASSIGNMENT 
  

FOR VALUE RECEIVED, the undersigned assigns and transfers this Capital Security to: 
  
 (Insert assignee’s social security or tax identification number) 
  
 (Insert address and zip code of assignee) 
  
 And irrevocably appoints 
  
 Agent to transfer this Capital Securities Certificate on the books of the Trust. The agent
may substitute another to act for him or her. 
  
 Date: 
  
 Signature: 
  
 (Sign exactly as your name appears on the other side of this
Capital Security Certificate) 
  
 The signature(s) should be
guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15.1

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