Document:

EX-10.3(B)

 

Exhibit 10.3(b)

Schedule identifying Split-Dollar Agreements between subsidiaries of Park National Corporation
and executive officers or employees of such subsidiaries who are directors or executive officers
of Park National Corporation, which Split-Dollar Agreements are identical to the Split-Dollar
Agreement, dated May 17, 1993, between William T. McConnell and The Park National Bank

     The following individuals entered into Split-Dollar Agreements with the subsidiaries of Park
National Corporation (“Park”) identified below, which Split-Dollar Agreements are identical to the
Split-Dollar Agreement, dated May 17, 1993, between William T. McConnell, Chairman of the Executive
Committee of the Board of Directors and a director of each of Park and The Park National Bank
(“Park National Bank”), and Park National Bank, filed as Exhibit 10(f) to Park’s Annual Report on
Form 10-K for the fiscal year ended December 31, 1993 (File No. 0-18772):

	 	 	 	 	 
	 	 	 	 	Subsidiary of Park
	Name and Positions Held With Park	 	Date of Split-	 	which is Party to
	and/or Principal Subsidiaries of Park	 	Dollar Agreement	 	Split-Dollar Agreement
	C.
Daniel DeLawder – Chairman of the
Board, Chief Executive Officer and a
director of each of Park and Park
National Bank

	 	May 26, 1993
	 	Park National Bank
	 
	 	 	 	 
	John W. Kozak – Chief Financial
Officer of Park; Senior Vice
President, Chief Financial Officer
and a director of Park National Bank

	 	June 2, 1993
	 	Park National Bank
	 
	 	 	 	 
	William A. Phillips – a director of
Park; Chairman of Board and a
director of Century National Bank

	 	May 22, 1998
	 	Century National Bank
	 
	 	 	 	 
	David L. Trautman – President,
Secretary and a director of Park;
President and a director of Park
National Bank

	 	September 23, 1993
	 	Park National BankExhibit 10.1

    Exhibit
      10.1

     

    

    CONFIDENTIAL
      TREATMENT REQUESTED FOR CERTAIN PORTIONS

     

    

     

    Transaction

     

    
      	
              Date:

               

            	
              3
                November, 2006

               

            
	
              To:

            	
              Lincoln
                National Corporation

            
	 	
              Central
                Square West Tower

            
	 	
              1500
                Market Street, Suite 3900

            
	 	
              Philadelphia,
                PA 19102- 2112

            
	 	 	 
	 	
              Attention:

            	
              Fred
                Crawford 

            
	 	
              Facsimile:
                

            	
              215-448-3954

            
	 	
              Telephone:
                

            	
              215-448-1435

            
	 	 	 
	
              From:

            	
              Lehman
                Brothers Finance S.A.

            
	 	
              c/o
                Lehman Brothers, Inc

            
	 	
              Transaction
                Management Group

            
	 	
              Facsimile:

            	
              646-885-9546
                (United
                States of America)

            
	 	
              Telephone:

               

            	
              212-526-9986

               

            

    

    Ref.
      Numbers: Risk
      ID:
      [] / Effort ID: N[] / Global Deal ID: []

     

      
        

      

    

    

     

    Dear
      Sir
      or Madam:

     

    The
      purpose of this communication (this “Confirmation”)
      is to
      confirm the terms and conditions of the transaction (the “Transaction”)
      entered into between Lehman Brothers Finance S.A. (“Party
      A”)
      and
      Lincoln National Corporation (“Party
      B”)
      on the
      Trade Date specified below. This Confirmation constitutes a “Confirmation” as
      referred to in the Agreement specified below. This Confirmation is sent on
      behalf both Party A and Lehman Brothers Inc. (“LBI”).

     

    This
      Confirmation supplements, forms part of, and is subject to, the ISDA Master
      Agreement dated as of May 12, 2006, as amended and supplemented from time to
      time, between Party A and Party B (the “Agreement”).
      All
      provisions contained in the Agreement shall govern this Confirmation except
      as
      expressly modified below.

     

    The
      definitions and provisions contained in the 2002 ISDA Equity Derivatives
      Definitions (the “Equity
      Definitions”)
      and
      the 2000 ISDA Definitions (the “Swap
      Definitions”,
      and
      together with the Equity Definitions, the “Definitions”),
      in
      each case as published by the International Swaps and Derivatives Association,
      Inc. (“ISDA”)
      are
      incorporated into this Confirmation. References herein to “Transaction” shall be
      deemed references to “Swap Transaction” for purposes of the Swap Definitions. In
      the event of any inconsistency between the Equity Definitions and the Swap
      Definitions, the Equity Definitions will govern. In the event of any
      inconsistency between either set of Definitions and this Confirmation, this
      Confirmation will govern.

     

    

    The
      terms
      of the Transaction to which this Confirmation relates are as
      follows:

     

    

    
      	
              Agent:

               

            	
              LBI
                is acting as agent on behalf of Party A and Party B for this Transaction.
                LBI has no obligations, by guarantee, endorsement or otherwise, with
                respect to the performance of this Transaction by either
                party.

               

            

    

     

      LEHMAN
        BROTHERS FINANCE S.A.

      TALSTRASSE
        82 - P.O. BOX 2828 - CH-8021 ZURICH - SWITZERLAND

      TELEPHONE
        (41-1) 287 88 42

       

    

    
      
        
        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              Trade
                Date:

               

            	
              November
                2, 2006

               

            
	
              Buyer:

               

            	
              Party
                B

               

            
	
              Seller:

               

            	
              Party
                A

               

            
	
              Shares:

               

            	
              Common
                stock of Lincoln National Corporation (the “Issuer”)
                Ticker Symbol: (“LNC”)

               

            
	
              Number
                of Shares:

            	
              2,304,654
                

               

            
	  
Initial
              Share Purchase:	Date, Party
              A shall
              deliver to Party B the Number of Shares and Party B will pay to Party
              A
              the Initial Purchase Price (the “Initial
              Share Purchase Amount”). 
	
              Initial
                Purchase Price:

            	
               USD
                150,000,000

               

            
	
              Initial
                Purchase Settlement Date: 

            	
              One
                Scheduled Trading Day following the Trade Date. 

               

            
	
              Prepayment:

               

            	
              Not
                Applicable

               

            
	
              Variable
                Obligation:

               

            	
              Not
                Applicable

               

            
	
              Exchange:

               

            	
              New
                York Stock Exchange 

               

            
	
              Related
                Exchange:

               

            	
              All
                Exchanges 

               

            
	
              Valuation:

            	 
	
              Trading
                Period:

               

            	
              The
                period of consecutive Trading Days from and including the first Scheduled
                Trading Day following the Trade Date to and including * (the “Maximum
                Maturity Date”);
                provided
                that,
                Party A may designate any Scheduled Trading Day on or after November
                17,
                2006 (the “Minimum
                Maturity Date”)
                as the last Scheduled Trading Day of the Trading Period (the “Maturity
                Date”).
                Party A shall notify Party B of any designation made pursuant to
                this
                provision prior to 8:00 A.M. (New York time) on the Scheduled Trading
                Day
                immediately following such designated day.

               

            
	
              Trading
                Day:

               

            	
              Any
                Scheduled Trading Day that is not a Disrupted
                Day.

               

            
	
              Disrupted
                Day:

               

            	
              The
                definition of “Disrupted Day” in Section 6.4 of the Equity Definitions
                shall be amended by adding the following sentence after the first
                sentence: “A Scheduled Trading Day on which a Related Exchange fails to
                open during its regular trading session will not be a Disrupted Day
                if the
                Calculation Agent determines that such failure will not have a material
                impact on Party A’s ability to purchase the relevant
                

            

    

     

    
      An
        [*]
        represents confidential information that has been omitted and filed separately
        with the Securities and Exchange Commission

    

     

    
      
        Risk
          ID: [] / Effort ID: [] / Global Deal ID: []

        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	 	
              number of Shares.”

               

            
	
              Consequence
                of Disrupted Days:

               

            	
              Section
                6.6 of the Equity Definitions shall be deleted in its entirety and
                replaced with the following;

               

              “If
                any of the days during the Trading Period are Disrupted
                Days,
                then the Trading Period shall be extended by a corresponding number
                of
                Scheduled Trading Days”

               

            
	
              Valuation
                Time:

               

            	
              The
                close of trading on the Exchange, without regard to extended trading
                hours.

               

            
	
              Valuation
                Date:

               

            	
              The
                last Scheduled Trading Day during the Trading Period. 

               

            
	
              Settlement
                Terms:

            	 
	
              Settlement
                Method Election:

               

            	
              Applicable;
                provided
                that
                references in the Equity Definitions to “Physical Settlement” shall be
                deemed to be references to “Net Share Settlement” as defined
                herein.

               

            
	
              Electing
                Party:

               

            	
              Party
                B

               

            
	
              Settlement
                Method Election Date:

               

            	
              The
                Valuation Date; provided
                that if Party A makes a designation pursuant to “Trading
                Period”
                above, Party B shall make the settlement method election as soon
                as
                possible upon receipt of the relevant notification of such designation.
                If
                such notification is received and the election is not made by Party
                B
                prior to 9:30 A.M. (New York time)
                on
                the Scheduled Trading Day immediately following the day designated
                as the
                last Scheduled Trading Day of the Trading Period pursuant to “Trading
                Period”
                above, the Default Settlement Method shall apply.

               

            
	
              Default
                Settlement Method:

               

            	
              Net
                Share Settlement

               

            
	
              Cash
                Settlement Terms:

            	 
	
              Cash
                Settlement:

               

            	
              Applicable
                to the extent it is elected or deemed to be elected under “Settlement
                Terms” above

               

            
	
              Settlement
                Currency:

               

            	
              USD

               

            
	
              Settlement
                Price: 

               

            	
              The
                amount equal to the difference of (i) the arithmetic average of the
                10b-18
                VWAPs for all Trading Days in the Trading Period minus
                (ii) USD *.

               

            
	 	(A) For
              any Trading
              Day, the volume-weighted average price at which the Shares trade as
              reported in 

    

    

    An
      [*]
      represents confidential information that has been omitted and filed separately
      with the Securities and Exchange Commission

    
      
        Risk
          ID: [] / Effort ID: [] / Global Deal ID: []

        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
      	
              10b-18
                VWAP:

               

            	
              the
                composite transactions for each securities exchange (without regard
                to
                pre-open or after-hours trading) on which such Shares are then listed
                (or,
                if applicable, any the successor thereto), excluding (i) trades that
                do
                not settle regular way, (ii) opening (regular way) reported trades
                in the
                consolidated system on such Trading Day, (iii) trades that occur
                in the
                last ten minutes before the scheduled close of trading on the Exchange
                on
                such Trading Day and ten minutes before the scheduled close of the
                primary
                trading in the market where the trade is effected, and (iv) trades
                on such
                Trading Day that do not satisfy the requirements of Rule 10b-18(b)(3),
                as
                determined in good faith by the Calculation Agent, or (B) for any
                Trading
                Day that is a Disrupted
                Day,
                an amount determined in good faith by the Calculation Agent as
                10b-18
                VWAP.
                Party B acknowledges that Party A may refer to the Bloomberg Page
“LNC
                <Equity> AQR SEC” (or any successor thereto), in its discretion, for
                such Trading Day to determine the 10b-18
                VWAP.

               

              On
                each Monday (provided that if Monday is not a Exchange Business Day,
                then
                on the next Exchange Business Day) Party A shall provide the daily
                10b-18
                VWAP
                determinations from the previous week to Party B.

               

            
	
              Forward
                Cash Settlement Amount:

               

            	
              Notwithstanding
                anything contained in Section 8.5 of the Definitions, the Forward
                Cash
                Settlement Amount, as determined by the Calculation Agent, shall
                be equal
                to (a) the Initial Share Purchase Amount minus
                (b) the product
                of (i) the Number of Shares and (ii) the Settlement Price. 

               

            
	
              Cash
                Settlement Payment Date:

               

            	
              Three
                Currency Business Days after the Valuation Date.

               

            
	
              Daily
                Share Balance:

               

            	
              On
                any day during the Trading Period, the difference between the Number
                of
                Shares and the
                number of Shares repurchased by Party A in relation to this Transaction
                as
                of such day (the “Repurchased
                Shares”).
                

            

    

     

    
      	
              Net
                Share Settlement Terms:

            	 

    

    

      
        
          Risk
            ID: [] / Effort ID: [] / Global Deal ID: []

          
          

        

        
          4

          
            

          

        

        
          
          

        

      

 

    
      	
              Net
                Share Settlement:

               

            	
              If
                Party B elects Net Share Settlement under the Settlement Method Election
                and the Forward Cash Settlement Amount is (i) a positive number,
“Net
                Share Settlement by Party A” below shall apply, or (ii) a negative number,
                “Net Share Settlement by Party B” below shall apply. For the avoidance of
                doubt, any Shares delivered hereunder shall be free and clear of
                any lien,
                charge, claim or encumbrance.

               

            
	
              Net
                Share Settlement By Party A:

               

            	
              On
                a day that is three Scheduled Trading Days after the completion of
                the Net
                Share Settlement Period (the “Refund
                Share Settlement Date”)
                Party A shall deliver a number of Shares to Party B (the “Refund
                Shares”)
                equal to the Forward Cash Settlement Amount divided
                by
                the volume weighted average price at which Party A purchased the
                Refund
                Shares.
                No fractional Shares shall be delivered in connection with Net Share
                Settlement by Party A, and the value of any fractional Share otherwise
                deliverable shall be paid in cash to Party B on the Refund
                Share Settlement Date
                (such value to be determined by multiplying such fractional Share
                by the
                volume weighted average price at which Party A purchased the Refund
                Shares).

               

            
	
              Net
                Share Settlement Period:

               

            	
              The
                period during which Party A makes purchases of the Refund
                Shares,
                commencing on the Scheduled Trading Day immediately following the
                Trading
                Period and ending on the Scheduled Trading Day on which Party A completes
                its purchases of the Refund
                Shares.

               

            
	
              Net
                Share Settlement Price:

               

            	
              The
                closing price per Share as quoted by the Exchange at the Valuation
                Time on
                the Valuation Date.

               

            
	
              Net
                Share Settlement by Party B:

            	
              *

            

    

     

    
      	
              Share
                Adjustments:

            	 
	
              Method
                of Adjustment:

               

            	
              Calculation
                Agent Adjustment

               

              Notwithstanding
                anything to the contrary in the Equity Definitions, the declaration
                of an
                Extraordinary Dividend by Party B shall not constitute a Potential
                Adjustment Event for purposes of Section 11.2(e) of the Equity
                Definitions.

            

    

    
      	
              Extraordinary
                Events:

            	 

    

    
       

      An
        [*]
        represents confidential information that has been omitted and filed separately
        with the Securities and Exchange Commission

      
        
          Risk
            ID: [] / Effort ID: [] / Global Deal ID: []

          
          

        

        
          5

          
            

          

        

        
          
          

        

      

 

    
      	
              Announcement
                Date:

            	
              The
                definition of “Announcement Date” in Section 12.1 of the Equity
                Definitions will be amended by replacing the words “voting shares” in the
                fifth line thereof with the word “Shares”.

               

            
	
              Consequences
                of Merger Events:

            	 
	
              Share-for-Share:

               

            	
              Modified
                Calculation Agent Adjustment 

               

            
	
              Share-for-Other:

               

            	
              Cancellation
                and Payment 

               

            
	
              Share-for-Combined:

            	
              Component
                Adjustment

            
	
               

              Tender
                Offer:

               

            	
               

              Applicable

            
	 	
              The
                definition of “Tender Offer” in Section 12.1 of the Equity Definitions
                will be amended by replacing the phrase “greater than 10% and less than
                100% of the outstanding voting shares of the Issuer”
                in the third and fourth line thereof with “greater than 10% and less than
                100% of the outstanding Shares of the Issuer”.

               

              The
                definition of “Tender Offer Date” in Section 12.1 of the Equity
                Definitions will be amended by replacing the words “voting shares” in the
                first line thereof with the word “Shares”.

               

            
	
              Consequences
                of Tender Offers:

            	 
	
              Share-for-Share:

               

            	
              Modified
                Calculation Agent Adjustment

               

            
	
              Share-for-Other:

               

            	
              Cancellation
                and Payment

               

            
	
              Share-for-Combined:

               

            	
              Component
                Adjustment

            
	
              New
                Shares:

               

            	
              The
                definition of “New Shares” in Section 12.1 of the Equity Definitions shall
                be amended by deleting subsection (i) in its entirety and replacing
                it
                with the following: “(i) publicly quoted, traded or listed on the New York
                Stock Exchange, the American Stock Exchange or the NASDAQ Stock Market
                LLC
                (or their respective successors)
                and”.

            

    

     

    
      	
              Modified
                Calculation Agent Adjustment:

               

            	
              For
                greater certainty, the definition of “Modified Calculation Agent
                Adjustment” in Sections 12.2 and 12.3 of the Equity Definitions shall be
                amended by adding the following italicized language after the stipulated
                parenthetical provision: “(including adjustments to account for changes in
                volatility, expected dividends, stock loan rate or liquidity relevant
                to
                the Shares or to the Transaction) from
                the Announcement Date to the Merger Date (Section 12.2) or Tender
                Offer
                Date (Section 12.3).”

               

            

    

    

      
        
          Risk
            ID: [] / Effort ID: [] / Global Deal ID: []

          
          

        

        
          6

          
            

          

        

        
          
          

        

      

    
      	
              Announcement
                Event:

               

            	
              If
                an Announcement
                Event
                occurs, the Calculation Agent will determine the
                economic effect of the Announcement Date on the theoretical value
                of the
                Transaction (including without limitation any change in volatility,
                expected dividends, stock loan rate or liquidity relevant to the
                Shares or
                to the Transaction) from the Announcement Date to the Valuation Date.
                If
                such economic effect is material, the Calculation Agent will adjust
                the
                terms of the Transaction to reflect such economic effect. “Announcement
                Event”
                shall mean the occurrence of the Announcement Date of a Merger Event
                or
                Tender Offer and will constitute a Potential Adjustment Event, if
                the
                Merger Date or Closing Date does not, or is not anticipated to, occur
                on
                or prior to the Valuation Date for, or any earlier termination of,
                the
                Transaction.

               

            
	
              Composition
                of Combined Consideration:

               

            	
              Not
                Applicable

               

            
	
              Nationalization,
                Insolvency or Delisting:

               

            	
              Cancellation
                and Payment 

               

            
	
              Delisting:

               

            	
              The
                definition of “Delisting” in Section 12.6 of the Equity Definitions shall
                be deleted in its entirety and replaced with the following: ‘“Delisting”
                means that the Exchange announces that pursuant to the rules of such
                Exchange, the Shares cease (or will cease) to be listed, traded or
                publicly quoted on the Exchange for any reason (other than a Merger
                Event
                or Tender Offer) and are not immediately re-listed, re-traded or
                re-quoted
                on the New York Stock Exchange, the American Stock Exchange or the
                NASDAQ
                Stock Market LLC (or their respective successors).”

               

            
	
              Additional
                Disruption Events:

            	 
	
              Change
                in Law:

            	
              Applicable

            

    

     

    
      	
              Insolvency
                Filing:

               

            	
              Applicable

               

              Section
                12.9(b)(i) of the Equity Definitions is hereby amended by adding
                the
                following sentence at the end: “If neither party elects to terminate the
                Transaction, the Calculation Agent may adjust the terms of the Transaction
                upon the occurrence of such an event pursuant to Calculation Agent
                Adjustment (as if such event were a Tender Offer).”

               

            
	
              Hedging
                Disruption:

            	
              Not
                Applicable

            

    

     

    
      	
              Increased
                Cost of Hedging:

               

            	
              Not
                Applicable 

               

            

    

    

      
        
          Risk
            ID: [] / Effort ID: [] / Global Deal ID: []

          
          

        

        
          7

          
            

          

        

        
          
          

        

      

    

    
      	
              Loss
                of Stock Borrow:

               

            	
              *

               

            
	
              Minimum
                Stock Loan Rate:

               

            	
              FED-FUNDS
                minus
                *
                basis points

               

            
	
              Increased
                Cost of Stock Borrow:

               

            	
              Not
                Applicable 

               

            
	
              FED-FUNDS:

               

            	
              For
                any day, the rate set forth for such day opposite the caption “Federal
                funds”, as such rate is displayed on the page “FedsOpen <Index>
                <GO>“ on the BLOOMBERG Professional Service, or any successor page;
                provided
                that if no rate appears for any day on such page, the rate for the
                immediately preceding day for which a rate does so appear shall be
                used
                for such day. 

               

            
	
              Hedging
                Party:

               

            	
              Party
                A shall be the Hedging Party in connection with all Extraordinary
                Events

               

            
	
              Determining
                Party:

               

            	
              Calculation
                Agent shall be the Determining Party in connection with all Extraordinary
                Events

               

            
	
              Acknowledgments:

               

            	 
	
              Non-Reliance:

               

            	
              Applicable

               

            
	
              Agreements
                and Acknowledgments Regarding Hedging Activities:

               

            	
              Applicable

               

            
	
              Additional
                Acknowledgments:

               

            	
              Applicable

               

            
	
              Miscellaneous:

            	 
	
              Bankruptcy
                Code:

               

            	
              Without
                limiting any other protections under the Bankruptcy Code (Title 11
                of the
                United States Code) (the “Bankruptcy
                Code”),
                the parties hereto intend for:

               

              (a)
                This Transaction and the Agreement to be a "swap agreement" as defined
                in
                the Bankruptcy Code, and the parties hereto to be entitled to the
                protections afforded by, among other Sections, Sections 560, 561
                and 562
                of the Bankruptcy Code.

               

              (b)
                A party's right to liquidate this Transaction, to
                offset or net termination values, payment amounts or other transfer
                obligations and to exercise any other remedies upon the occurrence
                of any
                Event of Default or Termination Event under the Agreement or this
                Transaction to constitute a “contractual right” as described in Sections
                560 and 561 of the Bankruptcy 

            

    

     

    An [*]
      represents confidential information that has been omitted and filed separately
      with the Securities and Exchange Commission

     

    
      
        Risk
          ID: [] / Effort ID: [] / Global Deal ID: []

        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    
      	 	
              Code.

               

              (c)
                Any cash, securities or other property provided as performance assurance,
                credit support or collateral with respect to this Transaction or
                the
                Agreement to constitute “transfers” under a “swap agreement” as defined in
                the Bankruptcy Code.

               

              (d)
                All payments for, under or in connection with this Transaction or
                the
                Agreement, all payments for any securities or other assets and the
                transfer of such securities or other assets to constitute “transfers”
                under a “swap agreement” as defined in the Bankruptcy
                Code.

            
	 	 
	
              Additional
                Representations, Warranties and Agreements of Party
                B:

               

            	
              In
                addition to the representations, warranties and agreements set forth
                in
                the Agreement and elsewhere in this Confirmation, Party B further
                represents, warrants and agrees that:

               

              (a)
                (i) It is not entering into this Transaction on behalf of or for
                the
                account of any other person or entity, and will not transfer or assign
                its
                obligations under this Transaction or any portion of such obligations
                to
                any other person or entity except in compliance with applicable laws
                and
                the terms of this Transaction; (ii) it has provided to LBI, as agent
                for
                Party A, financial and other information concerning its investment
                objectives and risk tolerance, which information is contained in
                its LBI
                account documentation, and has not been rendered misleading or obsolete;
                (iii) it understands that this Transaction is subject to complex
                risks
                which may arise without warning, may at times be volatile, and that
                losses
                may occur quickly and in unanticipated magnitude; (iv) it is authorized
                to
                enter into this Transaction and such action does not violate any
                laws of
                its jurisdiction of organization or residence (including, but not
                limited
                to, any applicable position or exercise limits set by any self-regulatory
                organization, either acting alone or in concert with others) or the
                terms
                of any agreement to which it is a party; (v) it has consulted with
                its
                legal advisor(s) and has reached its own conclusions about this
                Transaction, and any legal, regulatory, tax, accounting or economic
                consequences arising from this Transaction; and (vi) it has concluded
                that
                this Transaction is suitable in light of its own investment objectives,
                financial capabilities and expertise.

               

              (b)
                At all times until termination of the Transaction,
                

            

    

     

    
      
        Risk
          ID: [] / Effort ID: [] / Global Deal ID: []

        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    
      	 	
              Party
                B is an “eligible contract participant” as the term is defined in Section
                1a(12) of the Commodity Exchange Act, as amended.

               

              (c)
                Neither Party A nor any of its affiliates has advised Party B with
                respect
                to any legal, regulatory, tax, accounting or economic consequences
                arising
                from this Transaction, and neither Party A nor any of its affiliates
                is
                acting as agent (other than LBI as dual agent if specified above),
                or
                advisor for Party B in connection with this Transaction.

               

              (d)
                At the time of entering into this Transaction, Party B is not in
                possession of any material non-public information concerning the
                business,
                operations or prospects of the Issuer and was not in possession of
                any
                such information at the time of placing any order with respect to
                the
                Transaction. 

               

              “Material”
                information for these purposes is any information to which there
                is a
                substantial likelihood that a reasonable investor would attach importance
                in reaching a decision to buy, sell or hold any securities of the
                Issuer(s) because the information would significantly alter the total
                mix
                of information available.

               

              (e)
                Party B is in compliance with its reporting obligations under the
                Securities Exchange Act of 1934, as amended (the “Exchange
                Act”),
                and its most recent Annual Report on Form 10-K, together with all
                reports
                subsequently filed by it pursuant to the Exchange
                Act,
                taken together and as amended and supplemented to the date of this
                representation, do not, as of their respective filing dates, contain
                any
                untrue statement of a material fact or omit to state any material
                fact
                required to be stated therein or necessary to make the statements
                therein,
                in the light of the circumstances under which they were made, not
                misleading.

               

              (f)
                Party B is not entering into this Transaction to create actual or
                apparent
                trading activity in the Shares (or any security convertible into
                or
                exchangeable for Shares), to manipulate the price of the Shares (or
                any
                security convertible into or exchangeable for Shares) or to facilitate
                a
                distribution of Shares (or any security convertible into or exchangeable
                for Shares).

               

              (g)
                Party B has not entered into any obligation that
                

            

    

     

    
      
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              would
                contractually limit it from effecting Cash Settlement or Net Share
                Settlement under this Transaction and it agrees not to enter into
                any such
                obligation during the term of this Transaction.

               

              (h)
                Party
                B agrees that any registration statement (“Registration
                Statement”)
                it files pursuant to Rule 415 under the Securities Act of 1933, as
                amended, for purposes of Net Share Settlement, at the time the same
                becomes effective, will not contain an untrue statement of a material
                fact
                or omit to state a material fact required to be stated therein to
                make the
                statements therein not misleading. Party B represents that any prospectus
                delivered to Party A in connection with sales made under the Registration
                Statement
                (as such prospectus may be supplemented from time to time) will not
                include an untrue statement of a material fact or omit to state a
                material
                fact necessary in order to make the statements therein, in light
                of the
                circumstances under which they were made, not misleading.

               

              (i)
                If
                Party B purchases any Shares pursuant to this Transaction, such
                purchase(s) will comply with (i) all laws and regulations applicable
                to it
                and (ii) all material contractual obligations of Party B.

               

              (j)
                It is not, and, after giving effect to the transactions contemplated
                hereby will not be, an “investment company” as such term is defined in the
                Investment Company Act of 1940, as amended. 

            
	 	 
	
              Additional
                Termination Events:

               

            	
              Notwithstanding
                any other provision hereof, an “Additional
                Termination Event”
                shall occur and Party B shall be the sole Affected Party pursuant
                to such
                Additional
                Termination Event
                if
                on any day occurring after the Trade Date Party B declares a distribution,
                issue or dividend to existing holders of the Shares with a record
                date on
                or prior to the Valuation Date of (a) an extraordinary cash dividend,
                (b)
                a regular quarterly dividend with an ex-dividend date prior to December
                18, 2006, (c) securities or share capital of another issuer acquired
                or
                owned (directly or indirectly) by Party B as a result of a spin-off
                or
                other similar transaction or (d) any other type of securities (other
                than
                Shares, which may constitute a Potential Adjustment Event), rights
                or
                warrants or other assets, in any case for payment (cash or other
                consideration) at less than the prevailing market price as determined
                by
                the Calculation Agent in good faith 

               

            

    

     

    
      
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      	 	and
              commercially reasonable manner. 
	 	 
	
              Additional
                Provisions:

               

            	
              Party
                B may net-share settle this Transaction with Free
                Shares
                only if the following conditions have been satisfied (the “Registration
                Provisions”):
                

               

              (i)
                A registration statement (which may be a shelf registration statement
                filed pursuant to Rule 415 under the Securities Act of 1933) covering
                public resale of any Shares (including any Make-Whole
                Shares)
                delivered by Party B under a Net Share Settlement election (“Settlement
                Shares”)
                by Party A shall have been filed with, and declared effective by,
                the
                Securities and Exchange Commission (“SEC”)
                no later than one Exchange Business Day prior to the Valuation Date
                and
                such Registration
                Statement continues
                to be in effect at all times to and including the date that Party
                A or
                it’s affiliate(s) has fully and finally sold any Settlement
                Shares
                hereunder. 

               

              (ii)
                The contents of such registration statement and of any prospectus
                supplement to the prospectus included therein (including, without
                limitation, any sections describing the plan of distribution) shall
                be
                reasonably satisfactory to Party A.

               

              (iii)
                Party A shall have been afforded a reasonable opportunity to conduct
                a due
                diligence investigation with respect to Party B customary in scope
                for
                transactions pursuant to which Party A acts as an underwriter of
                equity
                securities and the results of such investigation are satisfactory
                to Party
                A, in its discretion.

               

              (iv)
                If in the reasonable judgment of counsel to Party A an Underwriting
                Agreement will be necessary in order to enable Party A to promptly
                dispose
                of the Net Settlement Shares and the Make-Whole Shares, if any, as
                of the
                Valuation Date, an Underwriting
                Agreement shall
                have been entered into with Party A in connection with the public
                resale
                of the
                Settlement Shares by
                Party A.

               

              Notwithstanding
                the foregoing, if Party B elects to net-share settle this Transaction
                with
                Restricted
                Shares,
                Party A shall attempt to sell the
                Settlement Shares, if any, pursuant to an exemption from registration
                under the Securities Act by soliciting bids from interested parties
                in a
                manner exempt from registration and, in such case, the Settlement
                Price
                

            

    

     

    
      
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              shall
                be equal to the price determined by Party A in a commercially reasonable
                manner. Also, Party B acknowledges and agrees that if it issues Settlement
                Shares to Party A which are Restricted
                Shares,
                the number of Shares to be delivered shall be greater than the number
                of
                Free
                Shares
                that would need to be delivered.

            
	 	 
	
              Company
                Purchases:

               

            	
              Without
                the prior written consent of Party A, which shall not be unreasonably
                delayed or denied, and except for purchases which are not solicited
                by or
                behalf of Party B, its affiliates or affiliated purchasers (each
                as
                defined in Rule 10b-18), Party B shall not purchase, and shall cause
                its
                affiliates or affiliated purchasers not to directly or indirectly
                purchase
                any Shares (or any security convertible into or exchangeable for
                Shares)
                during the Trading Period and thereafter until all payments or deliveries
                hereunder have been made.

            

    

     

    
      	
              No
                Collateral:

               

            	
              Notwithstanding
                any provision of the Agreement, or any other agreement between the
                parties, to the contrary, the obligations of Party B hereunder are
                not
                secured by any collateral. 

               

            
	
              Rule
                10b-18:

               

            	
              During
                the Net
                Share Settlement Period,
                Party A agrees to use its good faith and commercially reasonable
                efforts
                to make all purchases of Shares in a manner that would comply with
                the
                limitations set forth in clauses (b)(2), (b)(3), (b)(4) and (c) of
                Rule10b-18 under the Securities Exchange Act of 1934 (“Rule
                10b-18”),
                as if such rule was applicable to such purchases in connection with
                any
                offer to purchase and any purchase of Shares during the
                Net Share Settlement Period
                in connection with this Transaction.

               

              Party
                B shall, at least one day prior to the first day of the Net
                Share Settlement Period,
                notify Party A in writing of the total number of Shares purchased
                in Rule
                10b-18 purchases of blocks pursuant to the once-a-week block exception
                set
                forth in clause (b)(4) of Rule 10b-18 by Party B or any of its affiliates
                during each of the four calendar weeks preceding such day and during
                the
                calendar week in which such day occurs (“Rule
                10b-18 purchase”
                and “blocks”
                each as defined in Rule 10b-18).

               

            
	
              Rule
                10b5-1:

            	
              Party
                B represents, warrants and covenants to Party A
                that:

            

    

     

    
      
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              (i)
                it is entering into this Confirmation in good faith and not as part
                of a
                plan or scheme to evade the prohibitions of Rule 10b5-1 under the
                Exchange
                Act (“Rule
                10b5-1”).
                It is the intent of the parties that the transaction entered into
                under
                this Confirmation complies with the requirements of Rule 10b5-1(c)(1)(i)(A)
                and (B) and such transaction entered into under this Confirmation
                shall be
                interpreted to comply with the requirements of Rule
                10b5-1(c).

               

              (ii)
                Party B will not seek to control or influence Party A or LBI to make
                "purchases or sales" (within the meaning of Rule 10b5-1(c)(1)(i)(B)(3))
                under any transaction entered into under this Confirmation, including,
                without limitation, Party A’s or LBI’s decision to enter into any hedging
                transactions.

               

              (iii)
                Party B acknowledges that any amendment, modification, waiver or
                termination of this Transaction must be effected in accordance with
                the
                requirements for the amendment or termination of a “plan” as defined in
                Rule 10b5-1(c).

            
	 	 
	
              Certain
                Payments and Deliveries: 

               

            	
              Notwithstanding
                anything to the contrary herein, or in the Equity Definitions, if
                at any
                time (i) an Early Termination Date occurs and Party B would be required
                to
                make a payment pursuant to Sections 6(d) and 6(e) of the Agreement,
                (ii) a
                Tender Offer occurs and Party B would be required to make a payment
                pursuant to Sections 12.3 and 12.7 of the Equity Definitions, (iii)
                a
                Merger Event occurs and Party B would be required to make a payment
                pursuant to Sections 12.2 and 12.7 of the Equity Definitions or (iv)
                an
                Additional Disruption Event occurs and Party B would be required
                to make a
                payment pursuant to Sections 12.8 and 12.9 of the Equity Definitions,
                then
                in lieu of such payment, Party B shall have the right to deliver
                to Party
                A, at the time such payment would have been due and in the manner
                provided
                under “Physical Settlement” in the Equity Definitions, a number of Shares
                (or, in the case of a Merger Event, common equity securities of the
                surviving entity) equal to the quotient obtained by dividing (A)
                the
                amount that would have been so payable by (B) the fair market value
                per
                Share (or per unit of such common equity security) of the Shares
                (or
                units) so delivered at the time of such delivery, as determined by
                the
                Calculation Agent in a commercially reasonable
                manner.

            

    

     

    
 

    
      
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              In
                the event that (i) an Early Termination Date (whether as a result
                of an
                Event of Default or a Termination Event) occurs or is designated
                with
                respect to any Transaction or (ii) an Extraordinary Event occurs
                that
                results in the cancellation or termination of any Transaction pursuant
                to
                Article 12 of the Equity Definitions (except, in the case of clause
                (ii),
                a Merger Event in which the consideration or proceeds to be paid
                to
                holders of Shares consists solely of cash), if Party A would owe
                any
                amount to Party B pursuant to Section 6(d)(ii) of the Agreement or
                any
                Cancellation Amount pursuant to Article 12 of the Equity Definitions
                (in
                each case, calculated as if the Transactions being terminated or
                cancelled
                on such Early Termination Date or as a result of such Extraordinary
                Event
                were the sole Transactions under the Agreement) (any such amount,
                a
                “Party
                A Amount”),
                then, in lieu of any payment of such Party
                A Amount,
                Party B may, no later than the Early Termination Date or the date
                on which
                such Transaction is cancelled or terminated, as the case may be,
                elect for
                Party A to deliver to Party B a number of Shares (or, in the case
                of a
                Merger Event, a number of units, each comprising the number or amount
                of
                the securities or property that a hypothetical holder of one Share
                would
                receive in such Merger Event (each such unit, an “Alternative
                Delivery Unit”
                and, the securities or property comprising such unit, “Alternative
                Delivery Property”))
                with a value equal to the Party
                A Amount,
                as determined by the Calculation Agent (and the parties agree that,
                in
                making such determination of value, the Calculation Agent may take
                into
                account a number of factors, including the market price of the Shares
                or
                Alternative
                Delivery Property
                on
                the date of early termination and the prices at which Party A purchases
                Shares or Alternative
                Delivery Property
                to
                fulfill its delivery obligations under this Section 13); provided
                that in
                determining the composition of any Alternative
                Delivery Unit,
                if the relevant Merger Event involves a choice of consideration to
                be
                received by holders, such holder shall be deemed to have elected
                to
                receive the maximum possible amount of cash.

               

              Notwithstanding
                anything to the contrary in Section 6(d)(ii) of the Agreement, all
                amounts
                calculated as being due in respect of an Early Termination Date under
                Section 6(e) of the Agreement will be payable

            

    

     

     

     

    
      
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              on
                the day that notice of the amount payable is effective; provided
                that if Party B elects to receive Shares or Alternative
                Delivery Property
                in
                accordance with the immediately foregoing paragraph, such Shares
                or
                Alternative
                Delivery Property
                shall be delivered on a date selected by Party A which date shall
                be no
                later than 10 days after the day that notice of the amount payable
                is
                effective. 

            
	 	 
	
              Limitation
                on Set-off:

               

            	
              Notwithstanding
                anything to the contrary in the Agreement or the Equity Definitions,
                the
                calculation of any Settlement Amounts, Unpaid Amounts and amounts
                owed in
                respect of cancelled Transactions under Article 12 of the Equity
                Definitions shall be calculated separately for (A) all Terminated
                Transactions (it being understood that such term for purposes of
                this
                paragraph includes Transactions cancelled pursuant to Article 12
                of the
                Equity Definitions) in the Shares of the Issuer that qualify as equity
                under applicable accounting rules (collectively, the “Equity
                Shares”)
                as determined by the Calculation Agent and (B) all other Terminated
                Transactions under the Agreement including, without limitation,
                Transactions in Shares other than those of the Issuer (collectively,
                the
                “Other
                Shares”)
                and the netting and set-off provisions of the Agreement shall only
                operate
                to provide netting and set-off (i) among Terminated Transactions
                in the
                Equity
                Shares
                and (ii) among Terminated Transactions in the Other
                Shares.
                In no event shall the netting and set-off provisions of the Agreement
                operate to permit netting and set-off between Terminated Transactions
                in
                the Equity
                Shares
                and Terminated Transactions in the Other
                Shares.

               

            
	
              Calculation
                Agent:

               

            	
              As
                specified in the Agreement. All determinations by the Calculation
                Agent
                shall be made in good faith and in a commercially reasonable manner
                and
                are subject to agreement by Party A and Party B. If the parties are
                unable
                to agree on a particular calculation then the Calculation Agent will
                seek
                four actual quotations from leading dealers (that are not Affiliates
                of
                either party) in the relevant market (Party A and Party B shall each
                select two of the four leading dealers), taking the arithmetic average
                of
                those quotations obtained; provided that if four quotations are not
                available for a particular Transaction, then fewer than four quotations
                may be used for that Transaction; and if no quotations are available
                for a
                particular Transaction, then another mutually acceptable leading
                dealer in
                the relevant market (the

            

    

     

     

    
      
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      	 	“Mutually
              Acceptable Calculation Agent”)
              will be appointed to make such calculation or determination in dispute.
              If
              the parties cannot agree on a mutually acceptable leading dealer, the
              parties will each appoint a leading dealer (that is not an Affiliate
              of
              either party) who shall together appoint a third leading dealer (that
              is
              not an Affiliate of either party) (also a “Mutually Acceptable Calculation
              Agent”). The Mutually Acceptable Calculation Agent’s determination will be
              binding on Party A and Party B. The fees and expenses of the leading
              dealers or Mutually Acceptable Calculation Agent shall be borne equally
              by
              the parties.
	 	 

    

    

     

    
      
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    Please
      confirm your agreement with the foregoing by executing this Confirmation and
      returning such Confirmation, in its entirety, to us at facsimile number
      646-885-9546 (United States of America), Attention: Documentation.

     

    

     

    
      	
              Yours
                sincerely,

            	
              Accepted
                and agreed to:

            
	 	 
	
              Lehman
                Brothers Finance S.A.

            	
              Lincoln
                National Corporation

            

    

     

    
      
        	
                 

                By:
                  ./s/
                  Jaroslaw Haurylewicz   

                Name:
                  Jaroslaw Haurylewicz

                Title:
                  Authorized Signatory

              	
                 

                By:
                  /s/
                  Frederick J. Crawford   

                Name:
                  Frederick J. Crawford

                Title:
                  Senior Vice President, Chief Financial 

                Officer

              
	
                 

                By:
                  /s/
                  Anatoly Kozlov   

                Name:
                  Anatoly Kozlov

                Title:
                  Authorized Signatory

              	 
	 	 

      

    

    Execution
      time will be furnished upon Counterparty's written request.

     

     

     

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      []

    
19

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