Document:

exhibit10b.htm

Exhibit 10b

POWER OF ATTORNEY

We, the undersigned directors and/or officers of Lincoln Life & Annuity Company of New York, hereby constitute and appoint Delson R. Campbell, Scott C. Durocher, Kimberly A. Genovese, Daniel P. Herr, Donald E. Keller, Brian A. Kroll, John L. Reizian, Lawrence A. Samplatsky, Stephen R. Turer and John D. Weber, individually, our true and lawful attorneys-in-fact, with full power to each of them to sign for us, in our names and in the capacities indicated below, any Registration Statements and any and all amendments to Registration Statements; including exhibits, or other documents filed on Forms N-6 or N-4 or any successors or amendments to these Forms, filed with the Securities and Exchange Commission, under the Securities Act of 1933 and/or Securities Act of 1940, on behalf of the Company in its own name or in the name of one of its Separate Accounts, hereby ratifying and confirming our signatures as they may be signed by any of our attorneys-in-fact to any amendment to said Registration Statements as follows:

Variable Life Insurance Separate Accounts:

Lincoln Life & Annuity Flexible Premium Variable Life Account M: File No. 333-141782, 333-141788, 333-141789, 333-141785, 333-141790, 333-141779, 333-141767, 333-141771, 333-141775, 333-148917; 333-155333;

333-170383; 811-08559

LLANY Separate Account R for Flexible Premium Variable Life: File No. 333-141780, 333-141784, 333-141786,

333-141768, 333-141772, 333-141776; 333-149053; 811-08651

LLANY Separate Account S for Flexible Premium Variable Life: File No. 333-141777, 333-141773, 333-141769;

811-09257

Lincoln Life & Annuity Flexible Premium Variable Life Account Y: File No. 333-141781, 333-141783, 333-141787, 333-141770, 333-141774, 333-141778; 333-159954, 811-21029

Lincoln Life & Annuity Flexible Variable Life Account JA-B: 033-77496; 811-08470

Variable Life Insurance Separate Accounts:

Lincoln Life & Annuity Variable Annuity Account H: 333-141756, 333-141758, 333-141761, 333-141754,

333-141763, 333-141766, 333-171097; 333-176216; 811-08441

Lincoln Life & Annuity Variable Annuity Account L: 333-141755; 811-07785

Lincoln New York Account N for Variable Annuities: 333-141752, 333-141757, 333-141759, 333-141760,

333-141762, 333-145531, 333-149449; 333-171096; 333-175691; 333-176213; 811-09763

Except as otherwise specifically provided herein, the power-of-attorney granted herein shall not in any manner revoke in whole or in part any power-of-attorney that each person whose signature appears below has previously executed.  This power-of-attorney shall not be revoked by any subsequent power-of-attorney each person whose signature appears below may execute, unless such subsequent power specifically refers to this power-of-attorney or specifically states that the instrument is intended to revoke all prior general powers-of-attorney or all prior powers-of-attorney.

This Power-of-Attorney may be executed in separate counterparts each of which when executed and delivered shall be an original; but all such counterparts shall together constitute one and the same instrument.  Each counterpart may consist of a number of copies, each signed by less than all, but together signed by all, of the undersigned.

Signature                                                                Title

	
  

	
/s/ Dennis R. Glass

	
______________________________

	
President and Director

Dennis R. Glass

/s/ Charles C. Cornelio

______________________________                                                  Executive Vice President; Chief Administration Officer and

Charles C. Cornelio                                                                           Director

/s/ C. Phillip Elam II

______________________________                                                  Senior Vice President, Chief Investment Officer

C. Phillip Elam II

/s/ Randal J. Freitag

______________________________                                                  Executive Vice President; Chief Financial Officer and Director

Randal J. Freitag

/s/ George W. Henderson, III

______________________________                                                  Director

George W. Henderson, III

/s/ Mark E. Konen

______________________________                                                  Executive Vice President and Director

Mark E. Konen

/s/ M.Leanne Lachman

______________________________                                                  Director

M. Leanne Lachman

/s/ Louis G. Marcoccia

______________________________                                                  Director

Louis G. Marcoccia

/s/ Patrick S. Pittard

_____________________________                                                    Director

Patrick S. Pittard

Version: March 2012ex10_10.htm

  

  

  

Exhibit 10.10

Description of the MidSouth Bancorp, Inc. 2011

Annual Incentive Compensation Plan

The following is a description of the terms of the MidSouth Bancorp, Inc. 2011 Annual Incentive Compensation Plan (the “AICP”). As of the date of the filing of this Amendment to the Annual Report on Form 10-K for the fiscal year ended December 31, 2011, the AICP has not been reduced to a formal written document.

The AICP was designed to increase shareholder value by focusing the executive officers on our goals for the year and to reward them for achievement of those goals.  Payments under the AICP are based on a percentage of the participant’s base salary - 5% for achievement of goals at the threshold level and 10% for achievement of goals at the target level.  At its discretion, the Compensation Committee of the Board of Directors (the “Committee”) may pay awards above the 10% of base salary level if results are above the target level.

Awards under the AICP are tied to the achievement of goals in up to three categories: overall Bank goals, regional/departmental goals, and/or individual goals.  The intent is to provide a plan that is based on what we believe are industry best practices and to provide motivation for each officer to achieve goals relative to overall Bank performance (thereby aligning their interests with those of our shareholders) and goals related to an officer’s specific job function.  We believe the AICP also helps mitigate risk by providing each officer three company-wide goals as opposed to a single goal.  Having multiple goals helps ensure there is an appropriate balance of objectives, which otherwise could lead to performance inconsistencies within other areas of the organization.

 

In 2011, for our named executive officers (“NEOs”) other than our CEO, 75% of eligible award payout dollars are tied to achievement of our overall Bank goals, which for 2011 were improvements in net income (60% weighting), net core deposit growth (7.5% weighting) and net loan growth (7.5% weighting).  The remaining 25% of a potential award is based on regional/departmental goals with equal weighting.   Regional/departmental goals can include goals tied to asset quality, internal risk ratings of loans and the completion of acquisitions.   However, to receive any payment under the 2011 AICP, the Company had to hit at least the threshold level with respect to net income.  For our CEO, Mr. C.R. Cloutier, 100% of his award was based on the achievement of overall Bank goals, which, like the other NEOs, for 2011 were net income (80% weighting), net core deposit growth (10% weighting) and net loan growth (10% weighting).  Similar to the other NEOs, in order for Mr. C.R. Cloutier to receive any payment under this award, the Company had to hit at least the threshold level with respect to net income.

For 2011, the Committee established the following threshold and target goals for payment of awards under the AICP:

	
 

Performance

Measure

	
 

Threshold

Level

	
 

Target

Level

	
Net income

	
$6.00 million

	
 $7.50 million

	
Net core deposit growth

	
$29.00 million

	
$36.25 million

	
Net loan growth

	
$28.40 million

	
$48.00 millionExhibit 10.1

 

Court Order on Trustees’ Compensation
(and annual hearing of accounts),

dated May 22, 2012, but effective January
1, 2012.

 

 

	STATE OF MINNESOTA	 	DISTRICT COURT
	 	 	 
	COUNTY OF RAMSEY	 	SECOND JUDICIAL DISTRICT
	 	 	 
	 	 	Court File No. C5-72-386008
	 	 	 
	In the Matter of the Trust known as	 	 
	Great Northern Iron Ore Properties	 	ORDER
	 	 	 
	 	 	 

 

This matter came on
for hearing before the Court on May 22, 2012, upon the Petition for Allowance of Accounts and for Instructions by Joseph S. Micallef,
Roger W. Staehle, Robert A. Stein and James E. Swearingen, the duly appointed and acting Trustees of the Trust known as Great Northern
Iron Ore Properties.

Sue Ann Nelson of
Fredrikson & Byron, P.A., appeared on behalf of the Trustees of the Trust known as Great Northern Iron Ore Properties.

The Court, having
heard the arguments of counsel, and based upon the Petition, the affidavits filed in support of the Petition and the entire files
and record herein,

IT IS HEREBY ORDERED:

		1.	Due, published and mailed notice of this hearing was given pursuant to the Court’s Order
dated April 25, 2012, as more fully appears from the proof of publication and the Affidavits of Mailing contained in the file.

		2.	The accounts of the Trustees for the calendar year 2011 are approved, settled and allowed in all
respects.

		3.	The requested increase in the compensation of the President of the Trustees from $180,000 per year
to $200,000 per year and an increase in the bonus component from a maximum of $80,000 per year to a maximum of $100,000 per year
(computed as 1% of the excess of the gross income of the Trust over $5 million for the year up to the maximum of $100,000), both
effective as of January 1, 2012, with the $100,000 bonus component payable in full for 2012 subject to the formula calculation,
is granted.

 

    	 

    	 

    

Exhibit 10.1 – Court Order (continued)

 

		4.	The requested increase in the compensation of the Trustees other than the President from $70,000
per year to $80,000 per year, effective as of January 1, 2012, is granted.

		5.	The requested additional compensation of $5,000 per year for the Trustee serving in the role of
Audit Committee Chair, effective as of January 1, 2012, is granted.

	 	 	 	BY THE COURT

 	 
	Dated: 	May 22, 2012	 	/s/  Margaret M. Marrinan	 
	 	 	 	Margaret M. Marrinan	 
	 	 	 	Judge of District Court	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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