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EXHIBIT 10.4

 

NON-EMPLOYEE DIRECTOR FEES
(Effective January 1, 2024)

 

Lead Independent Director
Annual Retainer (Cash)			$110,000
Deferred LNC Stock Units			$240,000
Total Lead Independent Director Fees			$350,000
Non-Employee Directors other than Lead Independent Director
Annual Retainer (Cash)			$110,000
Deferred LNC Stock Units*			$180,000
Total Board Fees			$290,000
Committees (Cash)
Audit Committee Chair			$35,000
Audit Committee Member			$10,000
Compensation Committee Chair			$25,000
Other Committee Chair			$20,000

*			Deferred LNC Stock Units are “phantom” units of LNC Common Stock that are credited under the LNC Directors’ Deferred Compensation Plan.

 

All cash fees may be deferred, at a Director’s election, pursuant to the LNC Directors’ Deferred Compensation Plan.

 

Meeting fees may be paid in some cases for meetings which exceed the number of annually scheduled meetings ($1,100 per meeting) as determined by the Corporate Governance Committee.

 

All fees are paid to the directors on a quarterly basis in arrears and, for partial service during the year, fees are paid on a pro-rata basis.