Exhibit 10.1

AMENDMENT NO. 3 TO FIVE-YEAR CREDIT AGREEMENT

AMENDMENT dated as of June 27, 2007 to the Five-Year Credit Agreement dated as
of July 15, 2004 (as amended, the “Agreement”) among LOCKHEED MARTIN CORPORATION
(the “Company”), the BANKS party thereto (the “Banks”) and JPMORGAN CHASE BANK,
N.A., as Syndication Agent, CITICORP USA, INC., MIZUHO CORPORATE BANK, LTD. and
US BANK, N.A., as Documentation Agents, and BANK OF AMERICA, N.A., as
Administrative Agent.

W I T N E S S E T H:

WHEREAS, the parties hereto have heretofore entered into the Agreement;

WHEREAS, at the date hereof, there are no Loans or Letters of Credit outstanding
under the Agreement; and

WHEREAS, the parties hereto desire to amend the Agreement as set forth herein;

NOW, THEREFORE, the parties hereto agree as follows:

SECTION 1. Definitions; References. Unless otherwise specifically defined
herein, each capitalized term used herein which is defined in the Agreement
shall have the meaning assigned to such term in the Agreement. Each reference to
“hereof, “hereunder”, “herein” and “hereby” and each other similar reference and
each reference to “this Agreement” and each other similar reference contained in
the Agreement shall, after the Amendment Effective Date, refer to the Agreement
as amended hereby.

SECTION 2. Amended Pricing. The Agreement is amended by replacing the Pricing
Schedule set forth as Schedule II attached thereto with the Pricing Schedule set
forth as Schedule II attached hereto.

SECTION 3. Extension; Extension Option. (a) The following definitions in
Section 1.01 of the Agreement are amended to read as follows:

“Commitment Termination Date” means June 27, 2012, or such later date to which
the Termination Date may be extended pursuant to Section 2.17, or if any such
date is not a Domestic Business Day, the next preceding Domestic Business Day.

“Credit Exposure” means, with respect to any Bank at any time, (i) the amount of
its Commitment (whether used or unused) at such time or (ii) if its Commitment
has terminated, the sum of the aggregate outstanding principal amount of its
Loans at such time plus the aggregate amount of its Letter of Credit Liabilities
at such time.

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(b) Article 2 of the Agreement is amended by adding Section 2.17 to read in its
entirety as follows:

SECTION 2.17. Extension Option. (a) So long as at the time no Default shall
exist, the Commitment Termination Date may be extended in the manner set forth
in this Section 2.17 for a period of one year from the Commitment Termination
Date then in effect; provided that the Commitment Termination Date may only be
so extended for two additional one-year periods. If the Company wishes to
request an extension of the Commitment Termination Date, the Company shall give
notice to that effect to the Administrative Agent not less than 45 days nor more
than 90 days prior to each anniversary of June 27, 2007 that occurs on or prior
to the Commitment Termination Date then in effect, whereupon the Administrative
Agent shall promptly notify each of the Banks of such request. Each Bank will
use its best efforts to respond to such request, whether affirmatively or
negatively, as it may elect in its sole discretion, within 30 days of such
notice from the Administrative Agent. If any Bank shall not have responded
affirmatively within such 30-day period, such Bank shall be deemed to have
rejected the Company’s proposal to extend such Bank’s Commitment and only the
Commitments of those Banks which have responded affirmatively shall be extended,
subject to receipt by the Administrative Agent of counterparts of an Extension
Agreement in substantially the form of Exhibit M hereto (the “Extension
Agreement”) duly completed and signed by the Company, the Administrative Agent
and all of the Banks that have responded affirmatively. No extension of the
Commitments pursuant to this Section 2.17 shall be legally binding on any party
hereto unless and until such Extension Agreement is so executed and delivered by
Banks having more than 50% of the aggregate amount of the Commitments.

(b) If any Bank rejects, or is deemed to have rejected, the Company’s proposal
to extend such Bank’s Commitment, (A) subject to (B) below, this Agreement shall
terminate on the Commitment Termination Date then in effect with respect to such
Bank, and the Company shall pay to such Bank on such Commitment Termination Date
any amounts due and payable to such Bank on such date and (B) the Company may,
if it so elects, require any Bank that does not elect to extend its Commitment
to assign its Commitment in its entirety to one or more Eligible Assignees
pursuant to Section 9.01 (b) which Eligible Assignees will agree to the
extension of the Commitment Termination Date. On the date of termination of any
Bank’s Commitment as contemplated by clause (A) of the first sentence of this
subsection (b), the respective participations of the other Banks in all
outstanding Letters of Credit shall be redetermined on the basis of their
respective Commitments after giving effect to such termination and, if
applicable, any assignment pursuant to clause (B) of the first sentence of this
subsection (b), and the participation therein of the Bank whose Commitment is
terminated shall terminate; provided that the Company shall, if and to the
extent necessary to permit such redetermination of participations in Letters of
Credit within the limits of the Commitments which are not terminated, prepay on
such date a portion of the outstanding Loans, and such redetermination and
termination of participations in outstanding Letters of Credit shall be
conditioned upon its having done so.

 

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(c) The second sentence of Section 9.01(b) of the Agreement is amended by adding
the phrase “which shall result in payment to the Retiring Bank, either by the
Company or the assignee, of all amounts which would have been payable upon
termination of its Commitment pursuant to Section 9.01(a)” immediately following
the first reference to “Section 9.08.”

(d) The Administrative Agent shall promptly notify the Banks of the
effectiveness of each extension of the Commitments pursuant to this
Section 2.17.

(c) The Credit Agreement is amended by adding Exhibit M in the form of Exhibit M
attached hereto.

SECTION 4. Change in Commitments. With effect from and including the Amendment
Effective Date, the Commitment of each Bank shall be the amount set forth
opposite the name of such Bank on the Commitment Schedule set forth as Schedule
I attached hereto, which shall replace the Commitment Schedule set forth as
Schedule I to the Agreement. Any Bank under the Agreement not listed on such
Commitment Schedule (a “Departing Bank”) shall upon the Amendment Effective Date
cease to be a Bank party to the Agreement and all accrued fees and other amounts
payable under the Agreement for the account of each Departing Bank shall be due
and payable on such date; provided that the provisions of Sections 8.01, 8.03
and 9.04 of the Agreement shall continue to inure to the benefit of each
Departing Bank.

SECTION 5. Representations of the Company. The Company represents and warrants
that (i) the representations and warranties set forth in Article 4 of the
Agreement shall be true on and as of the Amendment Effective Date and (ii) no
Default shall have occurred and be continuing on such date.

SECTION 6. Governing Law. This Amendment shall be governed by and construed in
accordance with the laws of the State of New York.

SECTION 7. Counterparts. This Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.

SECTION 8. Effectiveness. This Amendment shall become effective on the date (the
“Amendment Effective Date”) of receipt by the Administrative Agent from each
party listed on the signature pages hereof of a counterpart hereof signed by
such party or facsimile or other written confirmation (in form satisfactory to
the Administrative Agent) that such party has signed a counterpart hereof.

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the date first above written.

 

LOCKHEED MARTIN CORPORATION By:   /s/ John C. McCarthy   Name:   John C.
McCarthy   Title:   Vice President and Treasurer

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JPMORGAN CHASE BANK, N.A., as     Syndication Agent and as Bank By:   /s/
Richard C. Smith   Name:   Richard C. Smith   Title:   Executive Director

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BANK OF AMERICA, N.A., as

    Administrative Agent and as Bank

By:   /s/ Kenneth Beck   Name:   Kenneth Beck   Title:   Senior Vice President

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CITICORP USA, INC., as

    Documentation Agent and as Bank

By:   /s/ Hans Lin   Name:   Hans Lin   Title:   Vice President

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MIZUHO CORPORATE BANK, LTD.,

    as Documentation Agent and as Bank

By:   /s/ Makoto Murata   Name:   Makoto Murata   Title:   Deputy General
Manager

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U.S. BANK, N.A., as Documentation

    Agent and as Bank

By:   /s/ Michael P. Dickman   Name:   Michael P. Dickman   Title:  

Vice President

U.S. Bank, N.A.

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BARCLAYS BANK PLC By:   /s/ Nicholas Bell   Name:   Nicholas Bell   Title:  
Director

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BNP PARIBAS By:   /s/ Rick Pace   Name:   Rick Pace   Title:   Managing Director

 

By:   /s/ Angela Bentley-Arnold   Name:   Angela Bentley-Arnold   Title:  
Director

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CALYON NEW YORK BRANCH By:   /s/ Olivier AUDEMARD   Name:   Olivier AUDEMARD  
Title:   Managing Director & Head of the Specialized Industries By:   /s/
Sylvain ESTIVAL   Name:   Sylvain ESTIVAL   Title:   Vice President Export
Finance

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COMMERZBANK AG, NEW YORK     AND GRAND CAYMAN BRANCHES By:   /s/ Karsten Duhn  
Name:   Karsten Duhn   Title:   Vice President By:   /s/ Barbara Peters   Name:
  Barbara Peters   Title:   Assistant Vice President

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LLOYDS TSB BANK PLC By:   /s/ Windsor R. Davies   Name:   Windsor R. Davies  
Title:  

Managing Director

Corporate Banking USA

D061

By:   /s/ Mario Del Duca   Name:   Mario Del Duca   Title:  

Associate Director

Corporate Banking USA

D029

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THE ROYAL BANK OF SCOTLAND     PLC By:   /s/ L. Peter Yetman   Name:   L. Peter
Yetman   Title:   Senior Vice President

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WACHOVIA BANK, NATIONAL     ASSOCIATION By:   /s/ Robert G. McGill Jr.   Name:  
Robert G. McGill Jr.   Title:   Director

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INTESA SANPAOLO S.p.A By:   /s/ John J. Michalisin   Name:   John J. Michalisin
  Title:   First Vice President By:   /s/ Francesco Di Mario   Name:   Francesco
Di Mario   Title:  

First Vice President

& Credit Manager

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AUSTRALIA AND NEW ZEALAND     BANKING GROUP LIMITED By:   /s/ John W. Wade  
Name:   John W. Wade   Title:   Director

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THE BANK OF NEW YORK By:   /s/ J. David Parker, Jr.   Name:   J. David Parker,
Jr.   Title:   Vice President

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THE BANK OF TOKYO—

    MITSUBISHI UFJ, LTD., NEW     YORK BRANCH

By:   /s/ J. Carlos   Name:   J. Carlos   Title:   Authorized Signatory

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BAYERISCHE LANDESBANK, Cayman Islands Branch By:   /s/ Nikolai von Mengden    
By:   /s/ Annette Schmidt   Nikolai von Mengden       Annette Schmidt Title:  
Senior Vice President     Title:   First Vice President

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BEAR STEARNS CORPORATE     LENDING INC. By:   /s/ Randall Trombley   Name:  
Randall Trombley   Title:   Authorized Signatory

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WILLIAM STREET COMMITMENT     CORPORATION (Recourse only to

    assets of William Street Commitment     Corporation)

By:   /s/ Mark Walton   Name:   Mark Walton   Title:   Assistant Vice-President

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THE NORTHERN TRUST COMPANY By:   /s/ Peter J. Hallan   Name:   Peter J. Hallan  
Title:   Vice President

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MORGAN STANLEY BANK By:   /s/ Daniel Twenge   Name:   Daniel Twenge   Title:  

Authorized Signatory

Morgan Stanley Bank

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THE BANK OF NOVA SCOTIA By:   /s/ Brian Allen   Name:   Brian Allen   Title:  
Managing Director

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STATE STREET BANK AND TRUST     COMPANY By:   /s/ Juan G. Sierra   Name:   Juan
G. Sierra   Title:   Vice President

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SUMITOMO MITSUI BANKING     CORPORATION By:   /s/ Leo E. Pagarigan   Name:   Leo
E. Pagarigan   Title:   General Manager

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SUNTRUST BANK By:   /s/ William C. Washburn, Jr.   Name:   William C. Washburn,
Jr.   Title:   Vice President

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WELLS FARGO BANK, NATIONAL     ASSOCIATION By:   /s/ Lori Avedikian   Name:  
Lori Avedikian   Title:   Vice President

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WESTLB AG, NEW YORK BRANCH By:   /s/ Christian Ruehmer   Name:   Christian
Ruehmer   Title:   Managing Director By:   /s/ David Pascual   Name:   David
Pascual   Title:   Associate Director

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BMO CAPITAL MARKETS     FINANCING, INC. By:   /s/ Joseph W. Linder   Name:  
Joseph W. Linder   Title:   Vice President

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BANCO BILBAO VIZCAYA

    ARGENTARIA S.A.

By:   /s/ Mr. Emilio de las Heras   Name:   Mr. Emilio de las Heras   Title:  
Head of New York By:   /s/ John Martini   Name:   John Martini   Title:   Vice
President     Corporate Banking

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RIYAD BANK, HOUSTON AGENCY By:   /s/ William B. Shepard   Name:   William B.
Shepard   Title:   General Manager By:   /s/ Paul N. Travis   Name:   Paul N.
Travis   Title:   Vice President & Head of Corporate Finance

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UBS LOAN FINANCE LLC By:   /s/ Irja R. Otsa   Name:   Irja R. Otsa   Title:  
Associate Director By:   /s/ Mary E. Evans   Name:   Mary E. Evans   Title:  
Associate Director

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Schedule I

 

Bank

   Commitment JPMorgan Chase Bank, N. A.    $86,250,000 Bank of America, N. A   
$86 250 000 Citicorp USA, Inc.    $71,250,000 Mizuho Corporate Bank, Ltd.   
$71,250,000 US Bank, N.A.    $71,250,000 The Royal Bank of Scotland plc   
$64,375,000 Calyon New York Branch    $55,000,000 Barclays Bank plc   
$54,375,000 BNP Paribas    $53,750,000 Wachovia Bank, National Association   
$53,750,000 Intesa SanPaolo S.p.A    $52,500,000 Morgan Stanley Bank   
$51,250,000 William Street Commitment Corporation    $50,000,000 Lloyds TSB Bank
plc    $48,750,000 The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch   
$75,000,000 The Bank of Nova Scotia    $37,500,000 Sumitomo Mitsui Banking
Corporation    $37,500,000 Bear Stearns Corporate Lending Inc.    $37,500,000
Wells Fargo Bank, National Association    $37,500,000 The Bank of New York   
$37,500,000 Bayerische Landesbank, Cayman Islands Branch    $37,500,000 SunTrust
Bank    $37,500,000 Australia and New Zealand Banking Group Limited   
$37,500,000 WESTLB AG, New York Branch    $37,500,000 State Street Bank and
Trust Company    $37,500,000 The Northern Trust Company    $37,500,000 UBS Loan
Finance LLC    $37,500,000 Riyad Bank, Houston Agency    $26,250,000 Banco
Bilbao Vizcaya Argentaria S.A.    $26,250,000 BMO Capital Markets Financing,
Inc. (formerly known as Harris Nesbitt Financing, Inc.)    $26,250,000
Commerzbank AG, New York and Grand Cayman Branches    $26,250,000

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Schedule II

PRICING SCHEDULE

The “Eurodollar Margin” and “Facility Fee Rate” for any day are the respective
rates per annum set forth below in the applicable row and column corresponding
to the Pricing Level and Usage that apply on such day:

 

Pricing

   Level I    Level II    Level III    Level IV    Level V

Eurodollar Margin:

              

Usage < 50%

   13.5  bps    15.0  bps    19.0  bps    28.0  bps    35.0  bps

Usage > 50%

   16.0  bps    17.5  bps    24.0  bps    33.0  bps    40.0  bps

Facility Fee Rate

   4.0  bps    5.0  bps    6.0  bps    7.0  bps    10.0  bps

For purposes of this Schedule, the following terms have the following meanings
(subject to the final paragraph of this Schedule):

“Level I Pricing” applies on any day if on such day the Company’s unsecured
long-term debt is rated A+ or higher by S&P or A1 or higher by Moody’s.

“Level II Pricing” applies on any day if on such day Level I Pricing does not
apply and the Company’s unsecured long-term debt is rated A or higher by S&P or
A2 or higher by Moody’s.

“Level III Pricing” applies on any day if on such day none of Level I Pricing or
Level II Pricing applies and the Company’s unsecured long-term debt is rated A-
or higher by S&P or A3 or higher by Moody’s.

“Level IV Pricing” applies on any day if on such day none of Level I Pricing,
Level II Pricing or Level III Pricing applies and the Company’s unsecured
long-term debt is rated BBB+ or higher by S&P or Baal or higher by Moody’s.

“Level V Pricing” applies on any day if no other Pricing Level applies.

“Moody’s” means Moody’s Investors Service, Inc. and its successors.

“Pricing Level” refers to the determination of which of Level I Pricing, Level
II Pricing, Level III Pricing, Level IV Pricing or Level V Pricing applies.
Level I Pricing is the lowest Pricing Level and Level V Pricing the highest.

“S&P” means Standard & Poor’s Ratings Services and its successors.

 

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The “Usage” applicable to any date is the percentage equivalent of a fraction
the numerator of which is the sum of the aggregate outstanding principal amount
of the Loans plus the aggregate Letter of Credit Liabilities at such date and
the denominator of which is the aggregate amount of the Commitments at such
date. If for any reason any Loans remain outstanding following the termination
of the Commitments, Usage will be deemed to be 100%.

The credit ratings to be utilized for purposes of this Pricing Schedule are
those assigned to the senior unsecured long-term debt securities of the Company
without third-party credit enhancement, and any rating assigned to any other
debt security of the Company shall be disregarded. The credit ratings in effect
on any day are those in effect at the close of business on such day. If the
Company is split-rated and the ratings differential is one notch, the higher of
the two ratings will apply (e.g., BBB+/Baa2 results in Level IV Pricing). If the
Company is split-rated and the ratings differential is more than one notch, the
average of the two ratings (or the higher of two intermediate ratings) shall be
used (e.g., A-/Baa2 results in Level IV Pricing, as does A-/Baa3). If the
Company receives notice from a Rating Agency of a change in the rating of its
senior unsecured long-term debt, the Company will advise the Administrative
Agent.

 

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EXHIBIT M

FORM OF EXTENSION AGREEMENT

Bank of America, N.A.,

as Administrative Agent

under the Five-Year Credit Agreement

referred to below

Ladies and Gentlemen:

The undersigned hereby agrees to extend, effective [Extension Date], the
Commitment Termination Date under the Five-Year Credit Agreement dated as of
July 15, 2004 (as amended from time to time, the “Five-Year Credit Agreement”)
among Lockheed Martin Corporation, the Banks party thereto and Bank of America,
N.A., as Administrative Agent, for one year to [date to which the Commitment
Termination Date is extended]. Terms defined in the Five-Year Credit Agreement
are used herein with the same meaning.

This Extension Agreement shall be construed in accordance with and governed by
the law of the State of New York.

 

[BANKS] By:       

Name:

Title:

 

Agreed and accepted: LOCKHEED MARTIN CORPORATION By:       

Name:

Title:

 

BANK OF AMERICA, N.A.,

as Agent

By:       

Name:

Title: