LNC reduces CEO change-of-control severance multiple from 3.0 to 2.99; removes automatic good reason clause

LINCOLN NATIONAL CORP

CEO cash severance capped at 2.99x base salary plus target bonus, down from 3.0x.
Provision allowing CEO to trigger 'good reason' for any termination in 2-year post-change-of-control window removed.
Amendment effective May 12, 2023, adopted by Executive Committee of Board.
No changes to severance multipliers for other executives (remain at 2.0x).

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