LNC 10-K Annual Report Dec. 31, 2020 | Alphaminr
LINCOLN NATIONAL CORP
ALPHAMINR

LNC 10-K Fiscal year ended Dec. 31, 2020

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LINCOLN NATIONAL CORP
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TABLE OF CONTENTS
Part I Item 1Item 7A. Quantitative and Qualitative Disclosures About Market RiskItem 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A. Controls and ProceduresItem 9B. Other InformationPart IIIItem 10. Directors, Executive Officers and Corporate GovernanceItem 11. Executive CompensationItem 12. Security Ownership Of Certain Beneficial Owners and Management and Related Stockholder MattersPart II Item 8Item 13. Certain Relationships and Related Transactions, and Director IndependenceItem 14. Principal Accounting Fees and ServicesPart IVItem 15. Exhibits, Financial Statement Schedules

Exhibits

2.1 Master Transaction Agreement, dated as of January 18, 2018, by and among The Lincoln National Life Insurance Company, for the limited purposes set forth therein, LNC, Liberty Mutual Insurance Company, Liberty Mutual Fire Insurance Company, for the limited purposes set forth therein, Liberty Mutual Group Inc., Protective Life Insurance Company and for the limited purposes set forth therein, Protective Life Corporation, is incorporated by reference to Exhibit 2.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on January 22, 2018.** 3.1 Restated Articles of Incorporation of LNC are incorporated by reference to Exhibit 3.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on August 14, 2017. 3.2 Amended and Restated Bylaws of LNC (effective August 19, 2020) are incorporated by reference to Exhibit 3.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on August 20, 2020. 4.2 First Supplemental Indenture, dated as of November 1, 2006, to Indenture dated as of September 15, 1994, is incorporated by reference to Exhibit 4.4 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2006. 4.4 Third Supplemental Junior Subordinated Indenture dated May 17, 2006, to Junior Subordinated Indenture, dated as of May 1, 1996, is incorporated by reference to Exhibit 4.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on May 17, 2006. 4.5 Fourth Supplemental Junior Subordinated Indenture, dated as of November 1, 2006, to Junior Subordinated Indenture, dated May 1, 1996, is incorporated by reference to Exhibit 4.9 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2006. 4.6 Fifth Supplemental Junior Subordinated Indenture, dated as of March 13, 2007, to Junior Subordinated Indenture, dated May 1, 1996, is incorporated by reference to Exhibit 4.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on March 13, 2007. 4.7 Senior Indenture, dated as of March 10, 2009, between LNC and the Bank of New York Mellon, is incorporated by reference to Exhibit 4.1 to LNCs Form S-3ASR (File No. 333-157822) filed with the SEC on March 10, 2009. 4.8 First Supplemental Indenture, dated as of August 18, 2020, to Senior Indenture dated as of March 10, 2009 between LNC and the Bank of New York Mellon, is incorporated by reference to Exhibit 4.4 to LNCs Form S-3ASR (File No. 333-249058) filed with the SEC on September 25, 2020. 4.9 Junior Subordinated Indenture, dated as of March 10, 2009, between LNC and the Bank of New York Mellon, is incorporated by reference to Exhibit 4.3 to LNCs Form S-3ASR (File No. 333-157822) filed with the SEC on March 10, 2009. 4.10 Form of 7.00% Capital Securities due 2066 of LNC is incorporated by reference to Exhibit 4.2 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on May 17, 2006. 4.11 Formof 6.15% Senior Notes due April6, 2036 is incorporated by reference to Exhibit 4.2 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on April 7, 2006. 4.12 Form of 6.05% Capital Securities due 2067 is incorporated by reference to Exhibit 4.2 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on March 13, 2007. 4.13 Form of 6.30% Senior Notes due 2037 is incorporated by reference to Exhibit 4.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on October 9, 2007. 4.14 Form of 7.00% Senior Notes due 2040 is incorporated by reference to Exhibit 4.2 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on June 18, 2010. 4.15 Form of 4.20% Senior Notes due 2022 is incorporated by reference to Exhibit 4.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on March 29, 2012. 4.16 Form of 4.00% Senior Notes due 2023 is incorporated by reference to Exhibit 4.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on August 16, 2013. 4.17 Form of 3.350% Senior Notes due 2025is incorporated by reference to Exhibit 4.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on March 10, 2015. 4.18 Form of 3.625% Senior Notes due 2026 is incorporated by reference to Exhibit 4.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on December 12, 2016. 4.19 Form of 4.00% Senior Notes due 2023 is incorporated by reference to Exhibit 4.1 to LNCs Form 8-K (File no. 1-6028) filed with the SEC on February 12, 2018. 4.20 Form of 3.800% Senior Notes due 2028 is incorporated by reference to Exhibit 4.2 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on February 12, 2018. 4.21 Form of 4.350% Senior Notes due 2048 is incorporated by reference to Exhibit 4.3 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on February 12, 2018. 4.22 Form of 3.050% Senior Notes due 2030 is incorporated by reference to Exhibit 4.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on August 19, 2019. 4.23 Form of 3.400% Senior Notes due 2031, incorporated by reference to Exhibit 4.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on May 15, 2020. 4.24 Form of 4.375% Senior Notes due 2050, incorporated by reference to Exhibit 4.2 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on May 15, 2020. 4.25 Description of Securities Registered Pursuant to Section 12 of the Exchange Act is filed herewith. 10.1 LNC 2014 Incentive Compensation Plan (effective May 22, 2014) is incorporated by reference to Exhibit 10.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on May 28, 2014.* 10.2 LNC 2009 Amended and Restated Incentive Compensation Plan (as amended and restated on May 14, 2009) is incorporated by reference to Exhibit 4 to LNCs Proxy Statement (File No. 1-6028) filed with the SEC on April 9, 2009.* 10.3 LNC Stock Option Plan for Non-Employee Directors is incorporated by reference to Exhibit 5 to LNCs Proxy Statement (File No. 1-6028) filed with the SEC on April 4, 2007.* 10.4 Non-Qualified Stock Option Agreement for the LNC Stock Option Plan for Non-Employee Directors is incorporated by reference to Exhibit 10.3 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on May 10, 2007.* 10.5 Non-Employee Director Fees are filed herewith.* 10.6 Amended and Restated LNC Supplemental Retirement Plan is incorporated by reference to Exhibit 10.10 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2007.* 10.7 The Severance Plan for Officers of LNC (Amended and Restated effective as of February 27, 2019) is incorporated by reference to Exhibit 10.1 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended March 31, 2019.* 10.8 Amendment No 1. to the Severance Plan for Officers of LNC, effective January 1, 2020, is incorporated by reference to Exhibit 10.8 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2019.* 10.10 LNC Deferred Compensation and Supplemental/Excess Retirement Plan, as amended and restated effective January 1, 2020, is incorporated by reference to Exhibit 10.10 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2019.* 10.11 Amendment No. 1 to the LNC Deferred Compensation and Supplemental/Excess Retirement Plan is filed herewith.* 10.13 Amendment No. 2 to the LNC 1993 Stock Plan for Non-Employee Directors (effective February 1, 2006) is incorporated by reference to Exhibit 10.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on January 13, 2006.* 10.14 LNC Executives Severance Benefit Plan (effective August 7, 2008) is incorporated by reference to Exhibit 10.3 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended June 30, 2008.* 10.15 Amendment No. 1 to the LNC Executives Severance Benefit Plan (effective November 9, 2011) is incorporated by reference to Exhibit 10.22 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2011.* 10.16 Amended and Restated LNC Excess Retirement Plan is incorporated by reference to Exhibit 10.26 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2007.* 10.17 Amendment No. 1 to the Amended and Restated LNC Excess Retirement Plan is filed herewith.* 10.18 Amendment No. 2 to the Amended and Restated LNC Excess Retirement Plan is filed herewith.* 10.19 Amendment No. 3 to the Amended and Restated LNC Excess Retirement Plan is filed herewith.* 10.20 Amendment No. 4 to the Amended and Restated LNC Excess Retirement Plan is filed herewith.* 10.21 Amendment No. 5 to the Amended and Restated LNC Excess Retirement Plan is filed herewith.* 10.22 LNC Deferred Compensation Plan for Non-Employee Directors, as amended and restated November 5, 2008, is incorporated by reference to Exhibit 10.23 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2008.* 10.23 Form of Indemnification between LNC and each director is incorporated by reference to Exhibit 10.1 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended September 30, 2009.* 10.24 Form of Non-Qualified Stock Option Award Agreement is incorporated by Reference to Exhibit 10.35 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2012.* 10.25 Amendment #1 to the Form of Non-Qualified Stock Option Award Agreements, effective August 13, 2014, is incorporated by reference to Exhibit 10.28 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2014.* 10.26 Amendment #2 to the Form of Non-Qualified Stock Option Award Agreements, effective August 13, 2014, is incorporated by reference to Exhibit 10.29 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2014.* 10.27 Form of Nonqualified Stock Option Agreement under the LNC 2014 Incentive Compensation Plan is incorporated by reference to Exhibit 10.2 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended March 31, 2015.* 10.28 Form of Restricted Stock Unit Award Agreement for Senior Management Committee (Other than CEO) is incorporated by reference to Exhibit 10.1 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended March 31, 2016.* 10.29 Form of Nonqualified Stock Option Award Agreement for Senior Management Committee (Other than CEO) is incorporated by reference to Exhibit 10.1 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended March 31, 2017.* 10.30 Form of Performance Cycle Agreement for Senior Management Committee (Other than CEO) is incorporated by reference to Exhibit 10.3 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended March 31, 2016.* 10.31 Form of Nonqualified Stock Option Agreement for CEO is incorporated by reference to Exhibit 10.1 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended March 31, 2020.* 10.32 Form of Long-Term Incentive Award Program Performance Cycle Agreement for CEO is incorporated by reference to Exhibit 10.2 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended March 31, 2020.* 10.33 Form of Restricted Stock Unit Award Agreement for CEO is incorporated by reference to Exhibit 10.3 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended March 31, 2020.* 10.34 Form of Nonqualified Stock Option Agreement for Senior Management Committee (SMC) is incorporated by reference to Exhibit 10.4 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended March 31, 2020.* 10.35 Form of Long-Term Incentive Award Program Performance Cycle Agreement for SMC (other than CEO) is incorporated by reference to Exhibit 10.5 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended March 31, 2020.* 10.36 Form of Restricted Stock Unit Award Agreement for SMC (other than CEO) is incorporated by reference to Exhibit 10.6 to LNCs Form 10-Q (File No. 1-6028) for the quarter ended March 31, 2020.* 10.37 Lincoln National Corporation 2020 Incentive Compensation Plan, incorporated by reference to Exhibit 4.3 to LNCs Registration Statement on Form S-8 (File No. 333-239117) filed with the SEC on June 12, 2020.* 10.38 LNC Domestic Relocation Policy Home Sale Assistance Plan, effective as of September 6, 2007, is incorporated by reference to Exhibit 10.35 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2009.* 10.39 Stock and Asset Purchase Agreement by and among LNC, The Lincoln National Life Insurance Company, Lincoln National Reinsurance Company (Barbados) Limited and Swiss Re Life & Health America Inc. dated July 27, 2001 is incorporated by reference to Exhibit 99.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on August 1, 2001. Omitted schedules and exhibits listed in the Agreement will be furnished to the SEC upon request. 10.40 Indemnity Reinsurance Agreement, dated as of January 1, 1998, between Connecticut General Life Insurance Company and Lincoln Life & Annuity Company of New York is incorporated by reference to Exhibit 10.67 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2008.** 10.41 Coinsurance Agreement, dated as of October 1, 1998, AETNA Life Insurance and Annuity Company and Lincoln Life & Annuity Company of New York is incorporated by reference to Exhibit 10.68 to LNCs Form 10-K (File No. 1-6028) for the year ended December 31, 2008.** 10.42 Credit Agreement, dated as of July 31, 2019, among LNC, as an Account Party and Guarantor, the Subsidiary Account Parties, as additional Account Parties, Bank of America, N.A. as administrative agent, and the other lenders named therein, is incorporated by reference to Exhibit 10.1 to LNCs Form 8-K (File No. 1-6028) filed with the SEC on July 31, 2019. 21 Subsidiaries List. 23 Consent of Independent Registered Public Accounting Firm. 31.1 Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2 Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32.1 Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 32.2 Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.