EXHIBIT 4.4 FIRST SUPPLEMENTAL INDENTURE DATED AS OF NOVEMBER 1, 2006 BETWEEN LINCOLN NATIONAL CORPORATION AS ISSUER AND THE BANK OF NEW YORK AS TRUSTEE

EXHIBIT 4.4

FIRST SUPPLEMENTAL INDENTURE

DATED AS OF NOVEMBER 1, 2006

BETWEEN

LINCOLN NATIONAL CORPORATION

AS ISSUER

AND

THE BANK OF NEW YORK

AS TRUSTEE

FIRST SUPPLEMENTAL INDENTURE, dated as of November 1, 2006 (the “First Supplemental Indenture”), between Lincoln National Corporation, a corporation duly organized and existing under the laws of the State of Indiana (the “Company”) and The Bank of New York, as trustee (the “Trustee”), supplementing and amending the Indenture (the “Indenture”), dated as of September 15, 1994, by and between the Company and the Trustee.

WHEREAS, the Company executed and delivered the Indenture to the Trustee to provide for the future issuance of the Company’s debentures, notes or other evidence of indebtedness (the “Securities”), to be issued from time to time in one or more series as might be determined by the Company under the Indenture;

WHEREAS, pursuant to Section 9.01 of the Indenture, the Company desires to enter into this First Supplemental Indenture to supplement and amend the Indenture, provided that such action shall not affect any Securities Outstanding of any series created prior to the date of this First Supplemental Indenture; and

WHEREAS, upon execution of this