2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 130 KANSAS CITY SOUTHERN KANSAS CITY SOUTHERN The biography of each nominee contains information regarding the person’s service as a director, business experience, director positions held currently or at any time during the last five years and experiences, qualifications, attributes or skills that led the Nominating and Corporate Governance Committee (the “Nominating Committee”) and the Board to conclude that the person should serve as a director for the Companyas of the time that this Proxy Statement wasfiledwiththe SEC. Biographies of Nominees Age: 65 DirectorSince: 2017 Committees: • Nominating& Corporate Governance Lydia I. Beebe Principal,LIBBAdvisors, LLC Experience: Principal, LIBB Advisors, LLC; Senior Of Counsel, Wilson Sonsini Goodrich & Rosati PC from 2015 to 2017; Chief Corporate Governance Officer and Corporate Secretary, ChevronCorp., from 1995to 2015 Qualifications: Ms. Beebe currently serves as the Principal of LIBB Advisors, and as co-chair of the Stanford Institutional Investors Forum at Stanford Law School. She formerly served as Senior Of Counsel with the law firm of Wilson Sonsini Goodrich & Rosati, advising clients on a wide range of corporate governance issues. She was the Chief Governance Officer for Chevron Corp. from 1995 to 2015 and served in various other legal roles since 1977. During this time, she gained valuable skills relating to executive leadership at a large publicly-traded company, including corporate governance matters that are important to our stockholders. She has extensive experience in a wide array of legal challenges that face a public company and its board of directors. Ms. Beebe also has expertise with boardroom issues as a director of other public companies. Through LIBB Advisors, she also routinely advises companies on corporate strategy and working with all stakeholders. In addition, she serves as an advisory board member of the Rock Center for Corporate Governance at Stanford University and the Weinberg Center for Corporate Governance at the University of Delaware. Ms. Beebe also served as chairman of the board of the Northern CaliforniaChapter of the NationalAssociationof Corporate Directors. Other CurrentDirectorships: Aemetis, Inc. Past Directorships: HCCInsurance Holdings,Inc. Age: 63 DirectorSince: 2010 Committees: • Audit • Finance(Chair) Lu M. Córdova President, Techstars Foundation;ChiefExecutiveOfficer of AlmacenStorage Group Experience: President, Techstars Foundationsince December, 2017; Chief Executive Officer of Corlund Industries, L.L.C. since 2005; General Manager of Almacen Storage-US, LLCsince2007 Qualifications: Ms. Córdova has extensive business leadership and entrepreneurial experience. She has strong management skills from leading business development for companies from start-up phase through high growth into the public market. Her former international executive roles with McGraw-Hill Standard & Poor’s and Excite@Home, along with Chief Executive roles in private corporations, have given her extensive expertise in corporate finance and strategic planning. In addition, Ms. Córdova is a citizen of both the United States and Mexico and has significant cross-border operations experience. Ms. Córdova also has experience in the development of government financial and economic policies from her formal economics education, from ten years with the 10th District Federal Reserve Bank, ultimatelyas chairman, andfrom servingon compensationandauditcommittees. Past Directorships: 10th District Federal Reserve Bank based in Kansas City; Euronet Worldwide,Inc. 2018NOTICEOFANNUALMEETINGANDPROXYSTATEMENT 8 Total of 06 pages in section KEYCORP PROPOSALONE:ElectionofDirectors Election Process KeyCorphasadoptedamajorityvotingstandardinuncontestedelectionsofdirectorsandpluralityvotingincontested elections.Inanuncontestedelection,anomineemustreceiveagreaternumberofvotes“FOR”than“AGAINST”hisorher election.Ifanuncontestednomineewhoisalreadyadirectorreceivesmore“AGAINST”votesthan“FOR”votes,thatdirector nomineewillcontinuetoserveasa“holdoverdirector,”butmustsubmittotheBoardanoffertoresignasadirector.The NominatingandCorporateGovernanceCommitteewillconsidertheholdoverdirector’sresignationandwillsubmita recommendationtoacceptorrejecttheresignationtotheBoard.TheBoard(excludingtheholdoverdirector)willactonthe committee’srecommendationandpubliclydiscloseitsdecision. 2018 Nominees for Director UpontherecommendationoftheNominatingandCorporateGovernanceCommittee,theBoardhasnominatedthe individualsidentifiedonthefollowingpagesforelectionasdirectors.EachnomineeiscurrentlyadirectorofKeyCorp. Biographicalinformationforeachnomineeisprovidedasofthemostrecentpracticabledate.TheBoardbelievesthatthe qualificationsandexperienceofthedirectornominees,asdescribedbelow,willcontributetoaneffectiveandwell- functioningBoard.TheBoardandtheNominatingandCorporateGovernanceCommitteebelievethatthedirectors, individuallyandasawhole,possessthenecessaryqualificationstoprovideeffectiveoversightofKeyCorp’sbusinessand qualityadviceandcounseltoKeyCorp’smanagement. Ifelected,eachnomineewillcontinuetoserveasadirectoruntilKeyCorp’s2019AnnualMeetingofShareholdersoruntilhis orhersuccessorisdulyelectedandqualifiedorheorsheresignsorisotherwiseremoved.Thereisnoreasontobelievethat anyofthesedirectornomineeswillbeunableorunwillingtoserveifelected.Shouldanynomineebeunabletoaccept nominationorelection,theproxiesmaybevotedfortheelectionofasubstitutenomineerecommendedbytheBoard. Alternatively,theBoardmayrecommendashareholdervoteholdingthepositionvacant,tobefilledbytheBoardatalater date. TheBoardofDirectorsunanimouslyrecommendsthatshareholdersvote“ FOR ” eachofthefollowingdirectornominees. BruceD. Broussard Age: 55 DirectorSince: 2015 KeyCorpCommittee(s): • Compensationand Organization Biography: Mr.BroussardisPresidentandChiefExecutiveOfficerandadirectorofHumana,Inc.,a publicly-heldhealthandwell-beingcompany.PriortohiselectionasHumana’sChiefExecutive Officerin2013andasPresidentin2011,Mr.Broussardheldnumerousseniorexecutiveand seniorfinancialroleswithMcKessonCorporation,ahealthcareservicescompany,andits predecessorU.S.Oncology.Mr.BroussardalsopreviouslyservedasadirectorofU.S.Physical Therapy,Inc.from1999to2011.Mr.BroussardisamemberofTheBusinessCouncilandthe WorldEconomicForumHealthGovernorsBoard. SelectQualificationsandExperience: • Significantexecutiveleadershipexperiencesinthehighly-regulatedhealthcareandinsurance industries,includingChiefExecutiveandChiefFinancialOfficerroleswithHumana,McKesson Corporation,HarborDental,Inc.,SunHealthcareGroup,Inc.,andRegencyHealthServices, Inc. • Extensivefinancialandaccountingbackgroundwithhealthcareandhealthinsurance companiesandmajorglobalaccountingfirms. OtherPublicDirectorships: • Humana,Inc.(since2013) 3 Total of 08 pages in section LINCOLN NATIONAL CORPORATION LINCOLNNATIONALCORPORATION 2018 PROXYSTATEMENT 15 ITEM 1 | ELECTION OF DIRECTORS NOMINEES FOR DIRECTOR Elevendirectorswillbeup forelectionat the2018AnnualMeeting toholdofficeuntil thenextannualmeetinganduntil their respectivesuccessorsareelectedandqualified.Of thedirectorsstanding forelection,onlyMr.Glass isanofficerof theCompany. Inaddition toannualelections,ourbylaws requireourdirectors tobeelectedbyamajorityofvotescast inan uncontestedelection. Eachdirectorbringsastrongbackgroundandsetofskills to theBoard,giving theBoardasawholeexpertise,diversityand experience inawidevarietyofareas.TheBoardbelieves thatallofourdirectorshave integrityandhonestyandadhere to highethicalstandards.Theyhavealsodemonstratedbusinessacumenandanability toexercisesound judgment,aswellas acommitment toserve theCompany. Unlessyoudirectotherwiseorspecifically indicate thatyouwish toabstain fromvoting foroneormoreof thenomineeson theproxy,yourproxywillbevoted foreachof thenomineesbelow.Eachnominee isacurrentdirectorof theCompanyand hasagreed tocontinueservingon theBoard ifelected. Ifanynominee isunable toserveasadirector,proxiesmaybevoted foranotherpersondesignatedby theBoard. TheBoardofDirectorsrecommendsavoteFOReachof thenominees. ITEM 1 ELECTIONOFDIRECTORS DEIRDRE P. CONNELLY RETIRED PRESIDENTNORTH AMERICAN PHARMACUETICALS OF GLAXOSMITHKLINE AGE: 57 DIRECTOR SINCE: 2016 Member, AuditandCorporateGovernance Committees CAREER Ms.Connellywas thePresident,NorthAmericanPharmaceuticalsofGlaxoSmithKline,aglobal pharmaceuticalcompany from2009untilher retirement in2015.Before thatsheservedas President,U.S.Operations forEliLilyandCompany from2005 to2009. QUALIFICATIONS Substantial leadershipexperienceandexpertiseasaseniorexecutiveof largepublicly traded companieswithglobaloperations.Shehasextensiveknowledgeandexpertise instrategy, operations,financeandcapitalmanagement,brandmarketingandproductdevelopment. OTHER PUBLIC COMPANY BOARDS Macy’s, Inc.,2008–present. GenmabA/S,2017–present. Total of 06 pages in section LOWE’S COMPANIES Proposal1:ElectionofDirectors DIRECTORNOMINEES DIRECTOR NOMINEES RAULALVAREZ DirectorSince: 2010 Age: 61 Lowe’sBoardCommittees: • Audit,Chair • Executive • PublicPolicy CurrentPublicCompanyDirectorships: • Dunkin’BrandsGroup,Inc. • EliLillyandCompany • RealogyHoldingsCorp. • SkylarkCo.,Ltd. Mr.AlvarezistheChairmanofSkylarkCo.,Ltd.,apublicJapanese holdingcompanyoperatingmorethan3,000restaurants. Mr.AlvarezservedasPresidentandChiefOperatingOfficerof McDonald’sCorporation,whichfranchisesandoperatesover 32,000McDonald’srestaurantsintheglobalrestaurantindustry, fromAugust2006untilhisretirementinDecember2009. Previously,heservedasPresidentofMcDonald’sNorthAmerica fromJanuary2005toAugust2006andasPresidentofMcDonald’s USAfromJuly2004toJanuary2005,whereheledateamthat alignedemployees,owner/operators,andsuppliersbehindthe company’s“PlantoWin”strategy–thecatalystfortheturnaround oftheU.S.business.Mr.AlvarezjoinedMcDonald’sin1994and heldavarietyofleadershippositionsduringhistenurewiththe company,includingChiefOperationsOfficerandPresidentofthe CentralDivision,bothwithMcDonald’sUSA,andPresidentof McDonald’sMexico.BeforejoiningMcDonald’s,Mr.Alvarez servedasaCorporateVicePresidentandasDivisionVice President-FloridaforWendy’sInternational,Inc.from1990to 1994.Priortothat,hewaswithBurgerKingCorporationfrom 1977to1989whereheheldavarietyofpositions,including ManagingDirectorofBurgerKingSpain,PresidentofBurgerKing CanadaandRegionalVicePresidentfortheFloridaRegion. SpecificExperience,Qualifications,AttributesandSkills RelevanttoLowe’s Mr.AlvarezbringstotheLowe’sBoard40yearsof experienceintheretailindustryaswellasextensive executiveleadershipexperienceinmanagingsomeofthe world’sbestknownbrands.Asaseniorexecutiveofthe leadingglobalfoodserviceretailerandotherglobal restaurantbusinesses,Mr.Alvarezdevelopedin-depth knowledgeofconsumermarketing,brandmanagement, globalexpansion,multi-nationaloperationsandstrategic planning. ANGELAF.BRALY DirectorSince: 2013 Age: 55 Lowe’sBoardCommittees: • Audit • Executive • PublicPolicy,Chair CurrentPublicCompanyDirectorships: • BrookfieldAssetManagement,Inc. • ExxonMobilCorporation • TheProcter&GambleCompany Ms.BralyistheformerChair,PresidentandChiefExecutive OfficerofWellPoint,Inc.(nowAnthem,Inc.),ahealthbenefits company.SheservedasChairoftheboardfromMarch2010 untilAugust2012andPresidentandChiefExecutiveOfficer fromJune2007throughAugust2012.Priortothat,Ms.Braly servedasExecutiveVicePresident,GeneralCounselandChief PublicAffairsOfficerofWellPointfrom2005to2007,and PresidentandChiefExecutiveOfficerofBlueCrossBlueShield ofMissourifrom2003to2005. SpecificExperience,Qualifications,AttributesandSkills RelevanttoLowe’s AsChairandChiefExecutiveOfficerofapubliclytraded company,Ms.Bralydevelopedstrongexecutiveleadership andstrategicmanagementskillswhileleadingaFortune 50companyinahighlyregulatedindustry.Ms.Bralyalso bringsextensivelegalexperienceasaformerpartnerof anNLJ500lawfirmandGeneralCounselofRightCHOICE ManagedCare,Inc.andWellPoint,Inc.AsChiefPublic AffairsOfficerforWellPoint,Ms.Bralywasalso responsibleforthecompany’spublicpolicydevelopment, governmentrelations,legalaffairs,corporate communications,marketingandsocialresponsibility initiatives. NOTICEOFANNUALMEETINGANDPROXYSTATEMENT2017 9 Total of 07 pages in section