Document:

EX-10.1

 Exhibit 10.1 

LOCKHEED MARTIN CORPORATION 
 EXECUTIVE
SEVERANCE PLAN 
 Originally Effective January 1, 2008 

Amended and Restated Effective June 26, 2008 

Amended and Restated Effective December 31, 2010 

Amended and Restated Effective April 3, 2012 

Amended and Restated Effective September 18, 2012 

Amended and Restated Effective December 14, 2012 

Amended and Restated Effective November 1, 2013 

Amended and Restated Effective June 1, 2015 
 This document sets
forth the terms of the Lockheed Martin Corporation Executive Severance Plan (formerly known as the Lockheed Martin Corporation Severance Benefit Plan for Certain Management Employees) (the “Plan”). The Plan provides benefits to Eligible
Employees who leave the employment of the Corporation as a result of an Executive Layoff Event and otherwise satisfy the eligibility requirements of the Plan. The Plan is intended to constitute an employee welfare benefit plan under the Employee
Retirement Income Security Act of 1974 (“ERISA”) that provides severance benefits to a select group of management or highly compensated employees. 
  

	1.	Definitions. The following terms when capitalized have the following meaning: 

  

	 	(a)	Affiliate - Any person, any corporation, association, partnership, joint venture or other business entity of which 50% or more of the voting stock or other equity interests (in the case of entities other than
corporations), is owned or controlled (directly or indirectly) by the Company or by one or more of its Affiliates, or by a combination thereof. 

  

	 	(b)	Annual Base Pay – The annual base salary of an Eligible Employee at the time of the Eligible Employee’s Termination of Employment, excluding management incentive compensation, overtime, or any other
additions to salary. 

  

	 	(c)	Base Pay -The Annual Base Pay of an Eligible Employee divided by 52. Base Pay shall not include management incentive compensation, overtime or any other additions to salary. 

 

	 	(d)	Basic Severance Benefit - The benefit payable under Section 5(a) of the Plan. 

  

	 	(e)	Cause - Any of the following: (i) Commission of a crime that the Company determines could harm the Company’s reputation or financial prospects or could subject the Company to penalties or sanctions;
(ii) A violation of any of the Company’s corporate policy statements that involve compliance with law which violation the Company determines could harm the Company’s reputation or financial prospects; (iii) A violation of the
Company’s Code of Ethics and Business Conduct that the Company determines could harm the Company’s reputation or financial prospects; (iv) Refusal to cooperate with the Company in a Company investigation; or (v) Any similar
conduct with respect to which the Company determines in its sole discretion that the payment of a benefit under the Plan would not be in the Company’s best interest. 

 

	 	(f)	Claims Administrator – The Committee, in the case of an Officer, and the Savings Plan Administrative Committee, in the case of any other Employee. 

 

	 	(g)	Committee – The Management Development and Compensation Committee of the Company’s Board of Directors. 

  

			
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	 	(h)	Company - Lockheed Martin Corporation. For the purposes of the Plan, the term “Company” shall include any successor entity (by merger or otherwise). 

 

	 	(i)	Eligible Employee – An Employee who satisfies the requirements for eligibility for coverage under Section 3 and who is not covered by any of the exceptions described in Section 4.

  

	 	(j)	Employee – An individual who is employed by the Company and is treated on the Company’s payroll records as a salaried employee of the Company. The term “Employee” includes an Officer but does
not include anyone who is not a citizen or resident of the United States and whose duties are primarily performed outside the United States. 

  

	 	(k)	Executive Layoff Event – Termination of Employment of an Eligible Employee that is (i) initiated by the Company (including under a separation window program offered by the Company that incorporates the
terms of this Plan or a portion thereof and that meets the applicable exception from Code section 409A and the accompanying Treasury Regulations ) for reasons other than for Cause; and (ii) designated by the Board of Directors in the case of an
Officer, or the Senior Vice President, Human Resources or his or her delegate in the case of any Eligible Employee other than an Officer, as an Executive Layoff Event. An Executive Layoff Event does not include a termination that is described in
Section 4. 

  

	 	(l)	Follow-on Benefits – A payment equal to the cost to the Eligible Employee of continuing for one year his or her coverage under the Company’s medical, dental and vision plans under the plans and with the
same level of coverage as elected by the Eligible Employee during open enrollment for the Plan Year in which the Executive Layoff Event occurs (but excluding flexible spending account plans). The amount will be equal to the cost charged Employees
for coverage provided by the Company pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1987 (COBRA coverage). 

  

	 	(m)	Full Bonus Equivalent - An amount equal to an Eligible Employee’s Annual Base Pay multiplied by the target level assigned to the Eligible Employee under Paragraph B of Exhibit A to the Lockheed Martin
Corporation 2006 Management Incentive Compensation Plan (Performance-Based) or any successor plan. 

  

	 	(n)	Officer – An Employee who is elected as an officer of the Company by the Board of Directors. 

  

	 	(o)	Plan Administrator - Lockheed Martin Corporation. 

  

	 	(p)	Plan Year – The 12-month period beginning on January 1 each year and ending on the following December 31. 

  

	 	(q)	 Prorated Bonus Equivalent – With respect to an Eligible Employee who is a participant in the Lockheed Martin Corporation 2006 Management Incentive
Compensation Plan (2006) (or any successor plan), the Attorney Incentive Plan, or the Lockheed Martin Corporation Cyber Compensation Plan, or, with respect to Eligible Employees who are not Officers, other annual incentive plan that is
designated by the Senior Vice President, Human Resources in his or her sole discretion, an amount equal to (i) an Eligible Employee’s Base Pay multiplied by the target percentage assigned to the Eligible Employee under the applicable
annual incentive plan, or, with respect to an Eligible Employee who is a participant in the Lockheed Martin Corporation Employee Incentive Plan, or, with respect to Eligible Employees who are not Officers, other annual incentive plan that is
designated by the Senior Vice President, Human Resources in his or her sole discretion, an amount equal to (ii) an Eligible Employee’s Base Pay multiplied by the percentage assigned to the “achieved” payout under the applicable
annual incentive plan and (iii) then multiplying the product obtained under (i) or (ii), as applicable, by the number of weeks in the Plan Year in which the Executive Layoff Event occurs for which the Eligible Employee was paid by the
Company for at least one day. For the purposes of this Section 1(q), no week may be counted twice. For the avoidance of doubt, (I) no Eligible Employee who, at the time of the Executive Layoff Event, works for Lockheed Martin Investment
Management 

  

			
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Company and is a participant in any Lockheed Martin Investment Management Company investment incentive plan will receive a Prorated Bonus Equivalent under the Plan; rather, any bonus payable
under any such investment incentive plan will be governed by the terms of that investment incentive plan; and (II) no Eligible Employee who receives a Pro Rata Bonus Equivalent under the Plan will be eligible to receive any payment under the
applicable annual incentive plan for the year in which the Executive Layoff Event occurs. 

  

	 	(r)	Salaried Employee Plan - The Severance Benefit Plan for Eligible Salaried Employees of Lockheed Martin Corporation or any successor plan that provides benefits in the case of a layoff or reduction in force to
salaried employees of the Company or its Affiliates. 

  

	 	(t)	Severance Benefit - Benefits payable under the Plan which could be a Basic Severance Benefit or a Supplemental Severance Benefit. 

 

	 	(u)	Supplemental Severance Benefit -The benefit payable under Section 5(b) of the Plan. 

  

	 	(v)	Termination of Employment - A separation from service as such term is defined in Code section 409A and the regulations thereunder. 

 

	 	(w)	Years of Service - The number of consecutive calendar months from (and including) the month of the Eligible Employee’s date of hire through and including the month in which the applicable Employee’s
Executive Layoff Event occurs, divided by 12, subject to the following: 

  

	 	(i)	Service Limited to Whole Years. Fractional Years of Service will be disregarded, so that only full Years of Service will be recognized. The only exception relating to fractional years of service pertains to
Eligible Employees who have more than six months of service, but less than a full year of service, in which case the Years of Service will be calculated as one year; 

 

	 	(ii)	Certain Periods of Leave. Time periods of leave during the Employee’s employment that do not or would not qualify for credited service under the pension plan applicable to the Eligible Employee will be
deducted from the total period of employment to calculate the Eligible Employee’s Years of Service; 

  

	 	(iii)	An Eligible Employee’s Years of Service under the foregoing rules shall never exceed the actual number of full years worked by the Employee for the Company. 

 

	2.	Effective Date. The Plan shall be effective with respect to Executive Layoff Events that occur and are announced on or after January 1, 2008. Amendments to the Plan are effective as of the dates set forth
above. 

  

	3.	Eligibility for Coverage. An Employee shall be eligible for coverage under the Plan if the Employee satisfies all of the following: 

 

	 	(a)	At the time of the Executive Layoff Event, the Employee is either: 

  

	 	(i)	an Officer; 

  

	 	(ii)	a Level 7 or Level 8 Employee; 

  

			
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	 	(iii)	any other Employee (other than an Employee described in (i) or (ii) of this Section 3(a)) who is designated in writing by the Senior Vice President, Human Resources or his or her delegate as eligible to
participate in the Plan, provided that such Employee was an Employee described in (i) or (ii) of this Section 3(a) within the 6-month period prior to the date that the Employee is designated as eligible for the Plan.

  

	 	(b)	The Employee has not waived coverage under the Plan; 

  

	 	(c)	The Employee is not receiving a benefit under the Salaried Employee Plan and is not a party to another plan, agreement or arrangement providing severance or similar benefits on account of termination of employment;

  

	 	(d)	The Employee is not disqualified for a Severance Benefit because the Employee’s Termination of Employment is on account of one of the exceptions set forth in Section 4; and 

 

	 	(e)	The Senior Vice President, Human Resources or his or her delegate determines in his or her sole discretion that the Employee’s employment has terminated or will terminate on account of Executive Layoff Event
(including acceptance of a separation window program offered by the Company that incorporates this Plan or a portion thereof by reference). In the case of an Officer, this determination will be made by the Committee in its sole discretion.

  

	4.	Exceptions To Coverage As An Executive Layoff Event. Notwithstanding Section 3 or anything else to the contrary, an Employee’s Executive Layoff Event will not be considered to have occurred and the
Employee will not be entitled to a Severance Benefit if: 

  

	 	(a)	the Employee is transferred to or assumes another position within the Company or with any Affiliate; 

  

	 	(b)	the Employee is transferred to, assumes, or is offered a job or position with (A) a purchaser of stock of the Company, or of assets of the Company, or of a business unit(s) of the Company, or of stock or other
equity interests or assets of an Affiliate(s) or of a business unit(s) of an Affiliate; (B) the surviving entity following a merger or consolidation of the Company or an Affiliate(s) with another entity; (C) an entity serving as a
contractor or a succeeding contractor (including a subcontractor or outsourcer) for business or functions performed by the Company; (D) an entity including but not limited to a joint venture, limited liability company or partnership to whom
control of a business unit, organization or function within the Company or a business unit of the Company or of an Affiliate, or contract is transferred, whether by a stock or asset sale or other means; or (E) an affiliate of any such
purchaser, contractor, succeeding contractor, subcontractor, outsourcer or entity; 

  

	 	(c)	the Employee is terminated for Cause; or 

  

	 	(d)	the Employee (i) terminates employment on his or her own initiative including retirement, resignation, failure to return from leave of absence or disability, or (ii) dies. If an Employee elects to retire
concurrent with an Executive Layoff Event, then the Employee will not fall within this exception to coverage. 

  

	5.	Calculation of Severance Benefit. 

  

	 	(a)	Basic Severance Benefit Applicable to all Eligible Employees. The Basic Severance Benefit payable to an Eligible Employee shall equal two weeks of the Eligible Employee’s Base Pay. 

 

	 	(b)	 Supplemental Severance Benefit. The following Supplemental Severance Benefits are in addition to the Basic Severance Benefit and are available only to
Eligible Employees who within 45 calendar 

  

			
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days of the Eligible Employee’s Termination of Employment as a result of an Executive Layoff Event execute (i) a valid and binding written release of the Company and its directors,
officers and Employees of claims of any kind or nature in respect of the Employee’s employment with the Company and any predecessor employer (and each of their affiliates) in the form supplied by the Company; and do not revoke any such release
of claims within any revocation period provided for in the release of claims, and, (ii) except where prohibited under applicable law, a Post-Employment Conduct Agreement substantially in the form attached to the Plan as Exhibit A.1 (for
Officers) or A.2 (for Eligible Employees who are not Officers) and as amended to reflect specific jurisdictional or other requirements. 

  

	 	(i)	For the Chief Executive Officer – a lump sum payment equal to the sum of 2.99 times Annual Base Pay plus 2.99 times Full Bonus Equivalent plus Follow-on Benefits. 

 

	 	(ii)	For an Officer other than the Chief Executive Officer – a lump sum payment equal to the sum of Annual Base Pay plus Full Bonus Equivalent plus Follow-on Benefits. 

 

	 	(iii)	For an Eligible Employee under Section 3(a)(ii) or (iii) who is not an Officer on the date of the Eligible Employee’s Executive Layoff Event– a lump sum payment equal to the sum of:

  

	 	(a)	15 weeks of the Eligible Employee’s Base Pay; plus 

  

	 	(b)	the product of the number of full Years of Service credited to the Eligible Employee multiplied by the Eligible Employee’s weekly rate of Base Pay; provided that the sum of (a) and (b) of this
Section 5 (b)(iii) may not exceed 39 weeks of the Eligible Employee’s Base Pay; plus 

  

	 	(c)	the Eligible Employee’s Pro Rata Bonus Equivalent, provided that in order to be eligible for payment of Pro Rata Bonus Equivalent, the Eligible Employee must be employed on a full time basis during the first
calendar quarter of the Plan Year in which the Eligible Employee’s Executive Layoff Event occurs with a termination date no earlier than April 1 of such Plan Year; plus 

 

	 	(d)	Follow-on Benefits. 

  

	 	(iv)	In addition to the applicable amount specified in Section (b) (i), (ii), or (iii) above, an Eligible Employee who is receiving a Supplemental Severance Benefit also will be eligible to receive
(a) outplacement services for one year (or, with respect to Eligible Employees who are not Officers, the cash value of the outplacement services as set forth in Section 5(c)(iii)(a), if applicable); and (b) if the Eligible Employee
relocated in order to fill the position held by the Eligible Employee at the time of the Executive Layoff Event, he or she will also be eligible for relocation services in accordance with CPS 538 (or, with respect to Eligible Employees who are not
Officers and who relocated pursuant to CPS 538 within 60 months prior to their Executive Layoff Event, the cash payment set forth in Section 5(c)(iii)(b), if applicable). 

 

	 	(c)	Timing of Payment of Severance Benefit - The amount of the Severance Benefit payable under Section 5(a) and Section 5 (b)(i), (ii) or (iii) above will be paid in a lump sum, less applicable
tax withholdings as follows: 

  

	 	(i)	In the case of payment of a Basic Severance Benefit, within 90 days following the Eligible Employee’s Executive Layoff Event, but in no event later than the March 15 immediately following the year in which the
Eligible Employee’s Executive Layoff Event; and 

  

	 	(ii)	 In the case of payment of a Supplemental Severance Benefit, within 90 days following the Eligible Employee’s (a) Executive Layoff Event, and
(b) execution of a release of claims and 

  

			
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the expiration of any applicable revocation period thereunder following such Executive Layoff Event, but in no event later than the March 15 immediately following the year in which the
Eligible Employee’s Executive Layoff Event occurs. Outplacement and relocation expenses paid as part of the Supplemental Severance Benefit will be provided by a third party provider selected by the Company. Outplacement or relocation expenses
will be paid by the Company to the third party providing the services following billing to the Company and must be incurred no later than December 31 of the second year following the year in which the Eligible Employee’s Executive Layoff
Event occurred and paid by the Company no later than December 31 of the third year following the year in which the Eligible Employee’s termination of employment occurred. To the extent that (i) Internal Revenue Code Section 409A
applies to any payment under this Plan, and (ii) the employee is required to sign a release of claims or noncompetition agreement in order to receive payment, payments under this Plan shall be made no later than 90 days following the Executive
Layoff Event; provided that if the payment period or the period in which the employee may consider whether to sign the release or other agreement spans two taxable years, payment shall be made or shall commence in the later taxable year.

  

	 	(iii)	Notwithstanding the foregoing: 

  

	 	(a)	an Eligible Employee other than an Officer may elect to receive (in lieu of outplacement services) a cash payment equal to $10,000 for Level 7 Employees and $15,000 for Level 8 Employees. 

 

	 	(b)	an Eligible Employee who is not an Officer and who relocated pursuant to CPS 538 within 60 months prior to his or her Executive Layoff Event may elect to receive (in lieu of relocation services) a cash payment in the
amount of $75,000. 

  

	 	(c)	The cash payments described in Section 5(c)(iii) will be paid (less applicable tax withholdings) on the same terms and conditions as the Supplemental Severance Benefit within 90 days following the Eligible
Employee’s (a) Executive Layoff Event, and (b) execution of a release of claims and the expiration of any applicable revocation period thereunder following such Executive Layoff Event, but in no event later than the March 15
immediately following the year in which the Eligible Employee’s Executive Layoff Event occurs; provided that, to the extent that a payment is subject to Code section 409A, if the payment period or the period during which the employee may
consider whether to execute the release spans two taxable years, the payment shall be made in the later taxable year. The elections described in this Section 5(c)(iii) shall be made at such time and in such manner as determined by the Company
in its sole discretion. If no such election is made, the Eligible Employee shall remain eligible for outplacement and relocation services as set forth in Section 5(c)(ii), and the amounts paid by the Company for such services shall be reported
as taxable income to the Eligible Employee. 

  

	 	(d)	Maximum Benefit Payable – Notwithstanding anything in the Plan to the contrary, if the total amount of benefits, including Plan benefits, provided to an Eligible Employee would result in an “excess
parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended, the Company, in its sole discretion, may reduce the benefits provided under the Plan so that the total payment will not result
in an excess parachute payment to the Eligible Employee. 

  

	 	(e)	 Specified Employees – The benefits under this Plan are intended to meet the exceptions under Code section 409A for short term deferrals, involuntary
severance payments, and/or benefits payable within a limited time after separation from service. However, to the extent any benefit payable under this Plan 

  

			
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to an Eligible Employee who is a “specified employee” (as defined in Code section 409A) is subject to Code section 409A, such benefit payment shall be delayed until 6 months following
the month in which the Eligible Employee has a Termination of Employment from the Company. 

  

	6.	Further Conditions on Payment of Severance Benefit. 

  

	 	(a)	The Company retains the right to condition payment of a Basic Severance Benefit or Supplemental Severance Benefit upon the Eligible Employee maintaining fully satisfactory work performance until the effective date of
the Eligible Employee’s Executive Layoff Event as agreed to by the Company, including the Eligible Employee’s faithful performance of any remaining obligations the Eligible Employee may owe to the Company such as prompt reimbursement to
the Company for cash advances and debit balances and the return of all Company property. To the extent the Eligible Employee fails to maintain fully satisfactory work performance until the effective date of the Eligible Employee’s Executive
Layoff Event, such Eligible Employee shall forfeit his or her Basic Severance Benefit and/or Supplemental Severance Benefit, in their entirety, to the extent of any such benefit. 

 

	 	(b)	In the event an Eligible Employee who is entitled to a Supplemental Severance Benefit becomes employed by the Company (or an Affiliate) prior to the first anniversary of his or her Executive Layoff Event, the Eligible
Employee shall be obligated to repay to the Company an amount equal to the amount of the Employee’s Supplemental Severance Benefit multiplied by a fraction, the numerator of which is the number of weeks (capped at 52) in the one-year period
following the Employee’s termination of employment during which the Employee is employed by the Company and the denominator of which is fifty-two (52). 

  

	 	(c)	If an Eligible Employee dies after his or her Termination of Employment, but before payment of a Basic Severance Benefit is made, the Basic Severance Benefit will be paid to his or her estate. If an Eligible Employee
dies after he or she has signed the release of claims and the release of claims is delivered to the Company within the time limit provided in Section 5(b) of the Plan, then the Supplemental Severance Benefit will be paid to his or her estate in
accordance with the timing rules in Section 5(d). 

  

	 	(d)	The benefits under the Plan are in lieu of, and not in addition to, any other severance or similar benefits for which the Eligible Employee may be eligible under any Company plan, policy, agreement or arrangement
(including but not limited to the Salaried Employee Plan). As a condition to receiving a benefit under the Plan, the Company may require that the Eligible Employee waive rights under all other plans, policies, agreements or arrangements providing
severance or similar benefits or may reduce the amount payable under the Plan by the amount payable under any other such plan policy, agreement or arrangement. In no event shall the Company’s administration of the Plan in accordance with the
preceding sentence operate to delay payment of a benefit under the Plan to an Eligible Employee beyond March 15th immediately following the year in which such Eligible Employee’s
Executive Layoff Event occurs. 

  

	7.	Administration. The Company may appoint or employ such persons as it deems necessary to render advice with respect to any responsibility of the Company under the Plan. The Committee, with respect to Officers, and
the Savings Plan Administrative Committee, with respect to all other Employees shall determine the eligibility of any Employee to participate in the Plan and the right of any Employee to any benefit and the amount of any benefit payable under the
Plan to any individual. The Committee and the Savings Plan Administrative Committee shall have the discretionary authority to interpret any term of the Plan. 

  

	8.	Claims Procedure. 

  

	 	(a)	 The Senior Vice President, Human Resources or his or her delegate shall notify each Eligible Employee who has been determined to have incurred an Executive
Layoff Event and who is eligible to receive benefits under the Plan and shall provide any forms required in connection with application for 

  

			
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such benefits. If any Employee disagrees with determination of his or her benefits, the Employee may submit a written statement to the Claims Administrator describing the basis of the claim for
benefits, together with any forms required in connection with application for a benefit, at any time within the 120 day period following the date on which the Employee claims to have become entitled to the Basic Severance Benefits or the
Supplemental Severance Benefits. 

  

	 	(b)	The procedures when a claim under the Plan is wholly or partially denied are as follows: 

  

	 	(i)	The Claims Administrator shall, within 90 days after receipt of a claim, furnish to claimant a written notice setting forth, in a manner calculated to be understood by claimant: (1) the specific reason or reasons
for the denial; (2) specific reference to pertinent Plan provisions on which the denial is based; (3) a description of any additional materials or information necessary for the claimant to perfect the claim and an explanation of why such
material or information is necessary; (4) an explanation of the steps to be taken if the claimant wishes to have the denial reviewed; and (5) a statement of the claimant’s right to bring a civil action under section 502(a) of ERISA
following an adverse determination on review. The 90 day period may be extended for not more than an additional 90 days if special circumstances make such an extension necessary. The Claims Administrator shall give the claimant, before the end of
the initial 90 day period, a written notice of such extension, stating such special circumstances and the date by which the Claims Administrator expects to render a decision. 

 

	 	(ii)	By a written application filed with the Claims Administrator within 60 days after receipt by claimant of the written notice described in paragraph (a), the claimant or his or her duly authorized representative may
request review of the denial of his or her claim by the Claims Administrator. 

  

	 	(iii)	In connection with review by the Claims Administrator, the claimant or his duly authorized representative may submit issues, comments, documents, records and other information relating to the claim for benefits under
the Plan to the Claims Administrator. In addition, the claimant will be provided, upon request and free of charge, reasonable access to and copies of all documents, records, or other information “relevant” to claimant’s claim for
benefits. A document, record, or other information is “relevant” if it: (1) was relied upon in making the benefit determination; (2) was submitted, considered or generated in the course of making the benefit determination, without
regard to whether such document, record or information was relied upon in making the benefit determination; or (3) demonstrates compliance with administrative processes and safeguards required under federal law. 

 

	 	(iv)	 The Claims Administrator will provide an impartial review that takes into account all comments, records and other information submitted by the claimant relating
to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. The Claims Administrator shall make a decision and furnish such decision in writing to the claimant within 60 days after
receipt by the Claims Administrator of the request for review. This period may be extended by the Claims Administrator to not more than 120 days after such receipt if special circumstances make such an extension necessary. The claimant will be
notified in writing prior to the expiration of the original 60-day period if such an extension is required, and such notice will include the reason for the extension and the date by which it is expected that a decision will be reached. The decision
on review shall be in writing, set forth in a manner calculated to be understood by the claimant and shall include: (1) the specific reasons for the decision; (2) specific reference to the pertinent Plan provisions on which the decision is
based; (3) a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records, and other information “relevant” to the claimant’s claim for benefits;
(4) a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; (5) a statement describing any voluntary appeal procedures and
the claimant’s right to obtain information about such 

  

			
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procedures, if any; and (6) a statement of the claimant’s right to bring a civil action under section 502(a) of ERISA following an adverse benefit determination on review. In the event
that the Claims Administrator must make a determination of disability in order to decide a claim, the Claims Administrator shall follow the special claims procedures for disability benefits described in Department of Labor Regulation section
2560.503-1(d). The Claims Administrator shall render a decision within a reasonable time (not to exceed 90 days) after the claimant’s request for review, rather than within 120 days as set forth in the above paragraph. 

 

	 	(v)	In filing a claim or appeal under this Section 8, an Employee at his or her option may act through an authorized representative. 

 

	9.	Funding. The Plan shall not be funded through a trust, insurance contract or otherwise, and all benefit payments from the Plan shall be made from the general assets of the Company. Accordingly, an Employee shall
not have any claim against specific assets of the Company, and shall be only a general creditor, with respect to any rights he/she may have under the Plan. 

  

	10.	Amendment and Termination of Plan. The Plan may be amended, in whole or in part, at any time by action of the Committee or by any authorized delegate, without notice, except that any amendment that would change
the eligibility requirements or the amount of benefits payable under the Plan must be approved by the Committee. The Plan may be terminated by action of the Committee at any time. Upon termination of the Plan, the Company shall have no further
liability hereunder, and all Plan benefits (including any amounts payable to Employees who separated from service before the date of Plan termination) shall cease. 

 

	11.	No Assignment. No Basic Severance Benefit or Supplemental Severance Benefit payable under the Plan may be assigned, transferred, pledged as a security for indebtedness or otherwise encumbered, or subjected to any
legal process for the payment of any claim against an Employee. 

  

	12.	Relationship to Other Benefits. An Employee’s Basic Severance Benefit or Supplemental Severance Benefit shall not be taken into account to increase any benefits provided (or to continue coverage) under any
other plan, policy, or arrangement of the Company or any Affiliate, except as otherwise expressly provided in writing in the other plan, policy, or arrangement, including accelerating vesting or other rights under the Lockheed Martin Corporation
Amended and Restated Incentive Performance Award Plan (or any successor plan). 

  

	13.	Governing Law. Except to the extent preempted by Federal law, the Plan shall be construed, administered and enforced according to the laws of the State of Maryland, without regard to its conflict of laws
provisions. Notwithstanding anything herein to the contrary, payments under this Award Agreement shall be made at a time and in a manner that satisfies the requirements of Internal Revenue Code Section 409A. 

The Plan was approved by the Management Development and Compensation Committee and was originally effective as of January 1, 2008. Amendments to
the Plan are effective as of the date(s) set forth above. 
  

			
	LOCKHEED MARTIN CORPORATION
		
	By:	 	  /s/ Patricia L. Lewis
		 	Patricia L. Lewis
		 	Senior Vice President, Human Resources
		
	Date: 	 	5/21/15

  

			
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 Exhibit A.1 

Post-Employment Conduct Agreement for Elected Officers 

[PECA will vary by state law and current legal and 

professional requirements at time of termination] 

[Applicable provisions may be incorporated into the 

release of claims agreement in lieu of a separate PECA] 

This Post Employment Conduct Agreement dated
                     (this “PECA”), together with the Release of Claims being entered into contemporaneous with this PECA, is
entered into in consideration of the payment (“Severance Payment”) to be made to me under the Lockheed Martin Corporation Executive Severance Plan (“Severance Plan”). By signing below, I agree as follows: 

(1) Restrictions Following Termination of Employment. 

(a) Covenant Not To Compete – [NOT APPLICABLE IN CALIFORNIA] Without the express written consent of the Chief
Executive Officer of the Company (or the Committee with respect to the Chief Executive Officer of the Company), during the two-year period following the date of my termination of employment with the Company (“Termination Date”), I will
not, directly or indirectly, be employed by, provide services to, or advise a “Restricted Company” (as defined in Section 6 below), whether as an employee, advisor, director, officer, partner or consultant, or in any other position,
function or role that, in any such case, 
  

	 	(i)	oversees, controls or affects the design, operation, research, manufacture, marketing, sale or distribution of “Competitive Products or Services” (as defined in Section 6 below) of or by the Restricted
Company, or 

  

	 	(ii)	would involve a substantial risk that the “Confidential or Proprietary Information” (as defined in Section 1(c) below) of the Company (including but not limited to technical information or intellectual
property, strategic plans, information relating to pricing offered to the Company by vendors or suppliers or to prices charged or pricing contemplated to be charged by the Company, information relating to employee performance, promotions or
identification for promotion, or information relating to the Company’s cost base) could be used to the disadvantage of the Company. 

To the extent permitted by applicable law, including but not limited to any applicable rules governing attorney conduct (such as the ABA
Model Rules of Professional Conduct and state versions thereof), Sections 1(a)(i) and (ii) and Section 1(b) relating to non-solicitation, shall apply to individuals who are employed by the Corporation in an attorney position and whose
occupation during the two-year period following employment with the Corporation does not include practicing law. 
 In lieu of
Section 1(a)(i) and (ii), as well as Section 1(b) relating to non-solicitation, the following Section 1(a)(iii) shall apply to individuals who are employed by the Corporation in an attorney position, and whose occupation during the
two-year period following employment with the Corporation includes practicing law. 
  

	 	(iii)	 Post-employment Activity As a Lawyer – I acknowledge that as counsel to the Corporation, I owe ethical and fiduciary obligations to the Corporation and
that at least some of these obligations will continue even after my Termination Date with the Corporation. I agree that 

  

			
	EXECUTION COPY	 	10

	 	 
after my Termination Date I will comply fully with all applicable ethical and fiduciary obligations that I owe to the Corporation. To the extent permitted by applicable law, including but not
limited to any applicable rules governing attorney conduct, I agree that I will not: 

  

	 	a.	 Represent any client in the same or a substantially related matter in which I represented the Corporation where the client’s interests are materially
adverse to the Corporation; or 

  

	 	b.	 Disclose confidential information relating to my representation of the Corporation, including the disclosure of information that is to the disadvantage of
the Corporation, except for information that is or becomes generally known. 

 The Corporation’s Senior Vice
President, General Counsel, and Corporate Secretary or the General Tax Counsel, as applicable, will determine in his or her discretion whether an individual is employed by the Corporation in an attorney position. 

(b) Non-Solicit – Without the express written consent of the Chief Executive Officer of the Company (or the Committee with
respect to the Chief Executive Officer of the Company), during the two-year period following the Termination Date, I will not (i) interfere with any contractual relationship between the Company and any customer, supplier, distributor or
manufacturer of or to the Company to the detriment of the Company or (ii) induce or attempt to induce any person who is an employee of the Company to perform work or services for any entity other than the Company. 

(c) Protection of Proprietary Information – Except to the extent required by law, following my Termination Date, I will have
a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Company committing to hold confidential the “Confidential or Proprietary Information” (as defined below) of
the Company or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the terms of such agreements. I will not use or disclose or
allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Company or others to which I had access or that I was responsible for creating or overseeing during my employment with the Company. In
the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or confidential information, I will immediately notify the Company’s
Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Company for assistance in seeking to protect the information. All materials to which I have
had access, or which were furnished or otherwise made available to me in connection with my employment with the Company shall be and remain the property of the Company. For purposes of this PECA, “Confidential or Proprietary Information”
means Proprietary Information within the meaning of CRX-015C (a copy of which has been made available to me), including but not limited to information that a person or entity desires to protect from unauthorized disclosure to third parties that can
provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if used by the person’s or entity’s employees or agents in an unauthorized manner,
might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 
  

	 	(i)	existing and contemplated business, marketing and financial business information such as business plans and methods, marketing information, cost estimates, forecasts, financial data, cost or pricing data, bid and
proposal information, customer identification, sources of supply, contemplated product lines, proposed business alliances, and information about customers or competitors, or 

 

	 	(ii)	existing or contemplated technical information and documentation pertaining to technology, know how, equipment, machines, devices and systems, computer hardware and software, compositions, formulas, products, processes,
methods, designs, specifications, mask works, testing or evaluation procedures, manufacturing processes, or production processes. 

  

			
	EXECUTION COPY	 	11

 (d) No disparagement – Following the Termination Date, I will not make any
statements, whether verbal or written, that disparage or reasonably may be interpreted to disparage the Company or its directors, officers, employees, technology, products or services with respect to any matter whatsoever. 

(e) Cooperation in Litigation and Investigations - Following the Termination Date, I will, to the extent reasonably requested,
cooperate with the Company in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Company or any of its subsidiaries or affiliates is a party or is required or requested to provide
testimony and regarding which, as a result of my employment with the Company, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision of this PECA, nothing in
this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 

2. Consideration and Release of Claims. I acknowledge and agree that the Severance Payment being made to me is in addition to the
payments or benefits that otherwise are or would be owed to me by the Company and that the Severance Benefit being provided to me is in consideration for my entering into this PECA and the Release of Claims attached to this PECA. I acknowledge that
the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the payments being made to me. I further acknowledge and agree that as a result of the high level
executive and management positions I have held within the Company and the access to and extensive knowledge of the Company’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required
for the protection of the Company’s legitimate business interests. 
 3. Remedies For Breach of Section 1; Additional
Remedies of Clawback and Recoupment. 
 (a) I agree, upon demand by the Company, to repay the Severance Payment to the Company in the event any of
the following occur: 
  

	 	(i)	I breach any of the covenants in Section 1; 

  

	 	(ii)	The Company determines that either (a) my intentional misconduct or gross negligence, or (b) my failure to report another person’s intentional misconduct or gross negligence of which I had knowledge
during the period I was employed by the Company, contributed to the Company having to restate all or a portion of its financial statements filed for any period with the Securities and Exchange Commission; or 

 

	 	(iii)	The Company determines that I engaged in fraud, bribery or any other illegal act or that my intentional misconduct or gross negligence (including the failure to report the acts of another person of which I had knowledge
during the period I was employed by the Company) contributed to another person’s fraud, bribery or other illegal act, which in any such case adversely affected the Company’s financial position or reputation. 

(b) The remedy provided in Section 3(a) shall not be the exclusive remedy available to the Company for any of the conduct described
in Section 3(a) and shall not limit the Company from seeking damages or injunctive relief. 
 4. Injunctive Relief. I
acknowledge that the Company’s remedies at law may be inadequate to protect the Company against any actual or threatened breach of the provisions of Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice
to any other rights and remedies otherwise available to the Company at law or in equity (including but not limited to, an action under Section 3(a), the Company shall be entitled to injunctive relief in its favor and to specific performance
without proof of actual damages and without the requirement of the posting of any bond or similar security. 
 5. Invalidity;
Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is

  

			
	EXECUTION COPY	 	12

 
adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the
operation of this provision in the particular jurisdiction in which such adjudication is made. 
 6. Definitions. Capitalized
terms not defined in this PECA have the meaning given to them in the Severance Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below: 

 ̈     (a)
“Restricted Company” means The Boeing Company, General Dynamics Corporation, Northrop Grumman Corporation, the Raytheon Company, United Technologies Corporation, Honeywell International Inc., BAE Systems Inc., L-3 Communications
Corporation, the Harris Corporation, Thales, Airbus Group, Inc., and (i) any entity directly or indirectly controlling, controlled by, or under common control with any of the foregoing, and (ii) any successor to all or part of the business
of any of the foregoing as a result of a merger, reorganization, consolidation, spin-off, split-up, acquisition, divestiture, or similar transaction, and (iii), if the box at the beginning of this Section 6(a) is checked, any entity or business
identified in Annex A to this PECA. 
 (b) “Competitive Products or Services” means products or services that compete with,
or are an alternative or potential alternative to, products sold or services provided by a subsidiary, business area, division or operating unit or business of the Company as of the Termination Date and at any time within the two-year period ending
on the Termination Date; provided, that, (i) if I had direct responsibility for the business of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Company at any time within the
two-year period ending on the Termination Date, Competitive Products or Services includes the products so sold or the services so provided during that two-year period by the subsidiary, business area, division or operating unit of the Company for
which I had responsibility, and (ii) if I did not have direct responsibility for the business of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Company at any time within the
two-year period ending on the Termination Date, Competitive Products or Services includes the products so sold or the services so provided by a subsidiary, business area, division or operating unit of the Company for which I had access (or was
required or permitted such access in the performance of my duties or responsibilities with the Company) to Confidential or Proprietary Information of the Company at any time during the two-year period ending on the Termination Date. 

7. Miscellaneous 
 (a) The
Severance Plan, this PECA with the attached Release of Claims constitute the entire agreement governing the terms of the Severance Payment and supersede all other prior agreements and understandings, both written and oral, between me and the Company
or any employee, officer or director of the Company concerning payments on account of my termination of employment. 
 (b) This PECA
shall be governed by Maryland law, without regard to its provisions governing conflicts of law. 
 (c) This PECA shall inure to the
benefit of the Company’s successors and assigns and may be assigned by the Company without my consent. 

  

			
	EXECUTION COPY	 	13

					
		  	SIGNED this          day of
                                    ,
2    .
			
		  	  

(Signature)
	  	
			
		  	  
 (Printed
Name)
	  	
			
		  	  

(Title)
	  	
			
		  	FOR LOCKHEED MARTIN CORPORATION:	  	
			
		  	  

(Signature)
	  	
			
		  	  
 (Printed
Name)
	  	
			
		  	  

(Title)
	  	
			
		  	
                           
                                        
          
 (Date)
	  	

 NOTE: HRBP must scan and upload the executed PECA (and Annex A, if applicable) to the Executive Action System in
order for payments to be processed. If Annex A is applicable, be sure to check the box at the beginning of Section 6(a) of the PECA and have Legal review Annex A. 

Annex A 
 Additional “Restricted
Companies” For Purposes of Section 6(a) of the PECA 
  

							
		 	 Entity Name

 
	  	 Description of the Competitive
Business
  
	 	
		 	 	
		 	 	  	 	 	
		 	 	
		 	 	  	 	 	
		 	 	
		 	 	  	 	 	
		 	 	
		 	 	  	 	 	
		 	 	
		 	 	  	 	 	
		 	 	
		 	 	  	 	 	
		 	 	
		 	 	  	 	 	

  

			
	EXECUTION COPY	 	14

 Exhibit A.2 

Post-Employment Conduct Agreement for Non-Officers 

[PECA will vary by state law and current legal and 

professional requirements at time of termination] 

[Applicable provisions may be incorporated into the 

release of claims agreement in lieu of a separate PECA] 

This Post Employment Conduct Agreement dated
                     (this “PECA”), together with the Release of Claims being entered into contemporaneous with this PECA, is
entered into in consideration of the payment (“Severance Payment”) to be made to me under the Lockheed Martin Corporation Executive Severance Plan (“Severance Plan”). By signing below, I agree as follows: 

 

	 	(1)	Restrictions Following Termination of Employment. 

 (a) Covenant Not To
Compete – [NOT APPLICABLE IN CALIFORNIA] Without the express written consent of the Senior Vice President, Human Resources of the Company, during the one-year period following the date of my termination of employment with the Company
(“Termination Date”), I will not, directly or indirectly, be employed by, provide services to, or advise a “Restricted Company” (as defined in Section 6 below), whether as an employee, advisor, director, officer, partner or
consultant, or in any other position, function or role that, in any such case, 
  

	 	(i)	oversees, controls or affects the design, operation, research, manufacture, marketing, sale or distribution of “Competitive Products or Services” (as defined in Section 6 below) of or by the Restricted
Company, or 

  

	 	(ii)	would involve a substantial risk that the “Confidential or Proprietary Information” (as defined in Section 1(c) below) of the Company (including but not limited to technical information or intellectual
property, strategic plans, information relating to pricing offered to the Company by vendors or suppliers or to prices charged or pricing contemplated to be charged by the Company, information relating to employee performance, promotions or
identification for promotion, or information relating to the Company’s cost base) could be used to the disadvantage of the Company. 

To the extent permitted by applicable law, including but not limited to any applicable rules governing attorney conduct (such as the ABA
Model Rules of Professional Conduct and state versions thereof), Sections 1(a)(i) and (ii) and Section 1(b) relating to non-solicitation, shall apply to individuals who are employed by the Corporation in an attorney position and whose
occupation during the one-year period following employment with the Corporation does not include practicing law. 
 In lieu of
Section 1(a)(i) and (ii), as well as Section 1(b) relating to non-solicitation, the following Section 1(a)(iii) shall apply to individuals who are employed by the Corporation in an attorney position, and whose occupation during the
one-year period following employment with the Corporation includes practicing law. 
  

	 	(iii)	 Post-employment Activity As a Lawyer – I acknowledge that as counsel to the Corporation, I owe ethical and fiduciary obligations to the Corporation and
that at least some of these obligations will continue even after my Termination Date with the Corporation. I agree that after my Termination Date I will comply fully with all applicable ethical and fiduciary obligations that I owe to the
Corporation. To the extent permitted by applicable law, including but not limited to any applicable rules governing attorney conduct, I agree that I will not: 

 

	 	a.	 Represent any client in the same or a substantially related matter in which I represented the Corporation where the client’s interests are materially
adverse to the Corporation; or 

  

			
	EXECUTION COPY	 	15

	 	b.	 Disclose confidential information relating to my representation of the Corporation, including the disclosure of information that is to the disadvantage of
the Corporation, except for information that is or becomes generally known. 

 The Corporation’s Senior Vice
President, General Counsel, and Corporate Secretary or the General Tax Counsel, as applicable, will determine in his or her discretion whether an individual is employed by the Corporation in an attorney position. 

(b) Non-Solicit – Without the express written consent of the Senior Vice President, Human Resources of the Company, during
the one-year period following the Termination Date, I will not (i) interfere with any contractual relationship between the Company and any customer, supplier, distributor or manufacturer of or to the Company to the detriment of the Company or
(ii) induce or attempt to induce any person who is an employee of the Company to perform work or services for any entity other than the Company. 

(c) Protection of Proprietary Information – Except to the extent required by law, following my Termination Date, I will have
a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Company committing to hold confidential the “Confidential or Proprietary Information” (as defined below) of
the Company or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the terms of such agreements. I will not use or disclose or
allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Company or others to which I had access or that I was responsible for creating or overseeing during my employment with the Company. In
the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or confidential information, I will immediately notify the Company’s
Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Company for assistance in seeking to protect the information. All materials to which I have
had access, or which were furnished or otherwise made available to me in connection with my employment with the Company shall be and remain the property of the Company. For purposes of this PECA, “Confidential or Proprietary Information”
means Proprietary Information within the meaning of CRX-015C (a copy of which has been made available to me), including but not limited to information that a person or entity desires to protect from unauthorized disclosure to third parties that can
provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if used by the person’s or entity’s employees or agents in an unauthorized manner,
might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

(i) existing and contemplated business, marketing and financial business information such as business plans and methods, marketing information, cost
estimates, forecasts, financial data, cost or pricing data, bid and proposal information, customer identification, sources of supply, contemplated product lines, proposed business alliances, and information about customers or competitors, or 

(ii) existing or contemplated technical information and documentation pertaining to technology, know how, equipment, machines, devices and systems,
computer hardware and software, compositions, formulas, products, processes, methods, designs, specifications, mask works, testing or evaluation procedures, manufacturing processes, or production processes. 

(d) No disparagement – Following the Termination Date, I will not make any statements, whether verbal or written, that
disparage or reasonably may be interpreted to disparage the Company or its directors, officers, employees, technology, products or services with respect to any matter whatsoever. 

(e) Cooperation in Litigation and Investigations - Following the Termination Date, I will, to the extent reasonably requested,
cooperate with the Company in any pending or future litigation (including alternative 

  

			
	EXECUTION COPY	 	16

 
dispute resolution proceedings) or investigations in which the Company or any of its subsidiaries or affiliates is a party or is required or requested to provide testimony and regarding which, as
a result of my employment with the Company, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision of this PECA, nothing in this PECA shall affect my
obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 
 2. Consideration and Release of
Claims. I acknowledge and agree that the Severance Payment being made to me is in addition to the payments or benefits that otherwise are or would be owed to me by the Company and that the Severance Benefit being provided to me is in
consideration for my entering into this PECA and the Release of Claims attached to this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the
value of the payments being made to me. I further acknowledge and agree that as a result of the high level executive and management positions I have held within the Company and the access to and extensive knowledge of the Company’s Confidential
or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Company’s legitimate business interests. 

3. Remedies For Breach of Section 1; Additional Remedies of Clawback and Recoupment. 

(a) I agree, upon demand by the Company, to repay the Severance Payment to the Company in the event any of the following occur: 

 

	 	(i)	I breach any of the covenants in Section 1; 

  

	 	(ii)	The Company determines that either (a) my intentional misconduct or gross negligence, or (b) my failure to report another person’s intentional misconduct or gross negligence of which I had knowledge
during the period I was employed by the Company, contributed to the Company having to restate all or a portion of its financial statements filed for any period with the Securities and Exchange Commission; or 

 

	 	(iii)	The Company determines that I engaged in fraud, bribery or any other illegal act or that my intentional misconduct or gross negligence (including the failure to report the acts of another person of which I had knowledge
during the period I was employed by the Company) contributed to another person’s fraud, bribery or other illegal act, which in any such case adversely affected the Company’s financial position or reputation. 

(b) The remedy provided in Section 3(a) shall not be the exclusive remedy available to the Company for any of the conduct described
in Section 3(a) and shall not limit the Company from seeking damages or injunctive relief. 
 4. Injunctive Relief. I
acknowledge that the Company’s remedies at law may be inadequate to protect the Company against any actual or threatened breach of the provisions of Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice
to any other rights and remedies otherwise available to the Company at law or in equity (including but not limited to, an action under Section 3(a), the Company shall be entitled to injunctive relief in its favor and to specific performance
without proof of actual damages and without the requirement of the posting of any bond or similar security. 
 5. Invalidity;
Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid or
unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of this provision in the particular jurisdiction in which such adjudication
is made. 

  

			
	EXECUTION COPY	 	17

 6. Definitions. Capitalized terms not defined in this PECA have the meaning given to
them in the Severance Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below: 
  ̈ (a) “Restricted Company” means The Boeing Company, General Dynamics Corporation, Northrop Grumman Corporation, the Raytheon Company, United
Technologies Corporation, Honeywell International Inc., BAE Systems Inc., L-3 Communications Corporation, the Harris Corporation, Thales, Airbus Group, Inc. and (i) any entity directly or indirectly controlling, controlled by, or under common
control with any of the foregoing, and (ii) any successor to all or part of the business of any of the foregoing as a result of a merger, reorganization, consolidation, spin-off, split-up, acquisition, divestiture, or similar transaction, and
(iii), if the box at the beginning of this paragraph is checked, any entity or business identified in Annex A to this PECA. 
 (b)
“Competitive Products or Services” means products or services that compete with, or are an alternative or potential alternative to, products sold or services provided by a subsidiary, business area, division or operating unit or business
of the Company as of the Termination Date and at any time within the two-year period ending on the Termination Date; provided, that, (i) if I had direct responsibility for the business of, or function with respect to, a subsidiary, or for a
business area, division or operating unit or business of the Company at any time within the two-year period ending on the Termination Date, Competitive Products or Services includes the products so sold or the services so provided during that
two-year period by the subsidiary, business area, division or operating unit of the Company for which I had responsibility, and (ii) if I did not have direct responsibility for the business of, or function with respect to, a subsidiary, or for
a business area, division or operating unit or business of the Company at any time within the two-year period ending on the Termination Date, Competitive Products or Services includes the products so sold or the services so provided by a subsidiary,
business area, division or operating unit of the Company for which I had access (or was required or permitted such access in the performance of my duties or responsibilities with the Company) to Confidential or Proprietary Information of the Company
at any time during the two-year period ending on the Termination Date. 
 7. Miscellaneous 

(a) The Severance Plan, this PECA with the attached Release of Claims constitute the entire agreement governing the terms of the Severance Payment and
supersede all other prior agreements and understandings, both written and oral, between me and the Company or any employee, officer or director of the Company concerning payments on account of my termination of employment. 

(b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. 

(c) This PECA shall inure to the benefit of the Company’s successors and assigns and may be assigned by the Company without my consent. 

  

			
	EXECUTION COPY	 	18

					
		  	SIGNED this          day of
                                    ,
2    .
			
		  	  

(Signature)
	  	
			
		  	  
 (Printed
Name)
	  	
			
		  	  

(Title)
	  	
			
		  	FOR LOCKHEED MARTIN CORPORATION:	  	
			
		  	  

(Signature)
	  	
			
		  	  
 (Printed
Name)
	  	
			
		  	  

(Title)
	  	
			
		  	
                           
                                        
          
 (Date)
	  	

 NOTE: HRBP must scan and upload the executed PECA (and Annex A, if applicable) 

to the Executive Action System in order for payments to be processed. If Annex A is 

applicable, be sure to check the box at the beginning of Section 6(a) of the PECA and 

have Legal review Annex A. 
 Annex A 

Additional “Restricted Companies” For Purposes of Section 6(a) of the PECA 

 

			
	Entity Name	  	 Description of the Competitive Business

 

	 	 
	 	  	 
	 	 
	 	  	 
	 	 
	 	  	 
	 	 
	 	  	 
	 	 
	 	  	 
	 	 
	 	  	 

  

			
	EXECUTION COPY	 	19

 RELEASE OF CLAIMS 

[Will Vary By State Law and Current Legal Requirements at Time of Termination] 

NOTE: HRBP must scan and upload the executed Release of Claims to the 

Executive Action System in order for payments to be processed. 

  

			
	EXECUTION COPY	 	20EX-10.3

 Exhibit 10.3 
  

LOCKHEED MARTIN CORPORATION 

SUPPLEMENTAL RETIREMENT PLAN 

(Effective July 1, 2015) 

  
 EXECUTION
COPY 

 ARTICLE I 

PURPOSES OF THE PLAN 

The purposes of the Lockheed Martin Corporation Supplemental Retirement Plan (the “Plan”) are: 

 

	 	(a)	 to provide certain employees of Lockheed Martin Corporation and its subsidiaries (the “Company”) with those benefits that cannot be paid
from the Company’s tax-qualified plans because of the limitations on contributions and benefits contained in Internal Revenue Code section 415; 

  

	 	(b)	 to provide certain key management employees of the Company with those benefits that cannot be paid from the Company’s tax-qualified plans
because of other limitations on contributions and benefits contained in the Internal Revenue Code, such as the limitations contained in Code section 401(a)(17); and 

 

	 	(c)	 to provide certain key management employees of the Company with other supplemental benefits. 

The following plans and predecessor plans were amended, restated and merged to form a single Plan, effective July 1,
2004: 
  

	 	1.	 Supplemental Retirement Benefit Plan of Lockheed Martin Corporation (formerly the Supplemental Retirement Benefit Plan of Lockheed Corporation)

	 	2.	 Lockheed Martin Corporation Supplemental Excess Retirement Plan (formerly the Martin Marietta Corporation Supplemental Excess Retirement Plan)

	 	3.	 Lockheed Martin Supplemental Retirement Income Plan (formerly the Martin Marietta Supplemental Retirement Income Plan) 

	 	4.	 Lockheed Martin Tactical Systems Supplemental Executive Retirement Plan (formerly the Loral Supplemental Executive Retirement Plan).

 The Plan was amended and restated, effective January 1, 2005, in order to comply with the
requirements of Code section 409A. The 2005 amendment and restatement of the Plan, as further amended and restated from time to time, shall apply only to the portion of a Participant’s benefit that accrued and vested on or after January 1,
2005. The portion of a Participant’s benefit that accrued and vested prior to January 1, 2005 shall be governed by the terms of the Plan in effect on December 31, 2004, attached as Appendix B. The Plan was amended and restated,
effective June 26, 2008, in order to clarify certain provisions in accordance with the final Treasury Regulations issued under Code section 409A and to make other clarifications with respect to eligibility and benefits. The Plan was amended and
restated effective December 31, 2008 to order to make further clarifications in accordance with the final Treasury Regulations issued under Code section 409A and to make other administrative clarifications. 

On June 26, 2014, the Qualified Pension Plan was amended: (i) to provide that pensionable earnings under the
Qualified Pension Plan shall not include amounts earned for or relating to any period after December 31, 2015; and (2) to freeze credited service under the Qualified Pension Plan effective January 1, 2020 and to provide that no
Qualified Pension Plan participant shall accrue credited service with respect to any period after December 31, 2019. Effective July 1, 2014, the Plan was amended and restated to confirm that these Qualified Pension Plan amendments shall
carry through to any applicable provision in this Plan, including Article III and IV and all Annexes and Appendices to the Plan. Accordingly, base rate of pay, bonuses or other incentive compensation, or other amounts earned for or relating to the
period after December 31, 2015 shall not be used in determining benefits under the Plan, and service after December 31, 2019 shall not be considered, deemed to be, or otherwise treated as Credited Service or similar benefit accrual service
in determining benefits payable under the Plan. 

  
 – 1 – 

EXECUTION COPY 

 The Plan is hereby amended and restated, effective for terminations from active
service and pre-retirement deaths on or after July 1, 2015, to update the mortality table used for determining the present value of benefits accrued under the Plan after December 31, 2004 when an individual is eligible for a lump sum
payout of such benefits and for certain benefit conversions involving benefits accrued under the Plan after December 31, 2004, from the 1983 Group Annuity Mortality Table with sex distinction to the mortality table approved by the Internal
Revenue Service for calculating the present value of benefits for determining lump sums payable under Code section 417(e)(3); provided, however, the 1983 Group Annuity Mortality Table with sex distinction will be used instead of the Code section
417(e)(3) applicable mortality table when use of the Code section 417(e)(3) applicable mortality table would cause a reduction in the amount of benefits payable under the Plan. 

ARTICLE II 
 DEFINITIONS

 Unless the context indicates otherwise or the term is defined below, all terms shall be defined in accordance with
the Lockheed Martin Corporation Retirement Program. 
 1. ACTUARIAL EQUIVALENT – The Actuarial Equivalent shall mean a
benefit which has the equivalent value computed using the interest rate which would be used by the Pension Benefit Guaranty Corporation to determine the present value of an immediate lump sum distribution on termination of a pension plan, as in
effect on the first day of the month of termination of employment plus one percent (1%), and the 1983 Group Annuity Mortality Table with sex distinction; provided that for Years beginning on or after January 1, 2011, in no event shall the
interest rate plus 1% exceed 7% or be less than 4%. Notwithstanding the foregoing, effective for terminations from active service and pre-retirement deaths on or after July 1, 2015, the Actuarial Equivalent shall mean a benefit which has the
equivalent value computed using the interest rate which would be used by the Pension Benefit Guaranty Corporation to determine the present value of an immediate lump sum distribution on termination of a pension plan, as in effect on the first day of
the month of termination of employment plus one percent (1%), and the applicable mortality table under Code section 417(e)(3); provided that (i) in no event shall the interest rate plus 1% exceed 7% or be less than 4%, and (ii) if use of
the applicable mortality table under Code section 417(e)(3) results in any Participant’s or Surviving Spouse’s benefit under the Plan having an Actuarial Equivalent that is less than the Actuarial Equivalent of the Participant’s or
Surviving Spouse’s benefit computed using the 1983 Group Annuity Mortality Table with sex distinction, as determined at the time benefits become payable pursuant to Article V, then the Actuarial Equivalent of the Participant’s or Surviving
Spouse’s Plan benefit will be computed using the 1983 Group Annuity Mortality Table with sex distinction. 
 2.
BENEFICIARY — The Beneficiary of a Participant shall be (a) the Participant’s Spouse or (b) if there is no Spouse surviving the Participant, the Participant’s estate. 

3. BOARD — The Board of Directors of Lockheed Martin Corporation. 

4. CODE — The Internal Revenue Code of 1986, as amended. 

5. COMMITTEE — The committee described in Section 1 of Article VIII. 

6. COMPANY – Lockheed Martin Corporation and its Subsidiaries. 

7. ELIGIBLE EMPLOYEE — An employee of the Company who (1) participates in a Qualified Pension Plan and whose
benefits thereunder are affected by the limitation on benefits imposed by Section 415 or 401(a)(17) of the Code, or (2) is designated by the Committee as eligible to participate in the Plan; and who

  
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satisfies such additional requirements for participation in this Plan as the Committee may from time to time establish. The Lockheed Martin Pension Plans Administration Committee (the
“Pension Committee”) shall interpret the participation requirements established by the Committee for all participants except elected officers subject to Section 16(b) of the Securities and Exchange Act of 1934. Determinations of
participation requirements for elected officers shall be made by the Committee. 
 8. GRANDFATHERED 2004 BENEFIT — The
benefit calculated under the terms of the Plan in effect prior to January 1, 2005 (attached as Appendix B), including benefits calculated under the Annexes to such Plan, determined as if the Participant had terminated from employment on
December 31, 2004 (or the Participant’s actual termination date, if earlier). 
 9. PARTICIPANT — An Eligible
Employee who meets the requirements for participation contained in Article III or the Annexes; the term shall include a former employee and survivors/beneficiaries whose benefit has not been fully distributed. A Participant shall cease to be an
active Participant upon termination of employment, when he otherwise ceases to be an Eligible Employee, or when he otherwise ceases to meet the requirements for participation as amended from time to time. 

10. QUALIFIED PENSION PLAN – A defined benefit plan specified in Appendix A in which the Participant participates. 

11. PLAN – The Lockheed Martin Corporation Supplemental Retirement Plan, or any successor plan. 

12. SUBSIDIARY — As to any person, any corporation, association, partnership, joint venture or other business entity of
which 50% or more of the voting stock or other equity interests (in the case of entities other than corporation), is owned or controlled (directly or indirectly) by that entity, or by one or more of the Subsidiaries of that entity, or by a
combination thereof. 
 12A. TERMINATION OF EMPLOYMENT – A separation from service as such term is defined in Code
section 409A and the regulations thereunder. 
 13. YEAR — The calendar year. 

ARTICLE III 
 EXCESS
BENEFIT PROVISIONS 
 1. Introduction. This Article sets forth the terms of the Plan relating to benefits
determined by reference to the limitations imposed by Code section 415 and/or Code section 401(a)(17). This Article amends and restates the provisions relating to those benefits previously contained in the following plans: 

 

	 	(a)	 the Supplemental Retirement Benefit Plan of Lockheed Martin Corporation (formerly known as the Supplemental Benefit Plan of Lockheed Corporation);

  

	 	(b)	 the Lockheed Martin Corporation Supplemental Excess Retirement Plan (formerly know as the Martin Marietta Corporation Supplemental Excess
Retirement Plan); and 

  

	 	(c)	 the Lockheed Martin Tactical Systems Supplemental Executive Retirement Plan (formerly known as the Loral Supplemental Executive Retirement Plan).

 2. Purpose. Benefits under this Article III supplement the benefits of Eligible Employees to the
extent that such benefits cannot be paid from the Company’s tax-qualified defined benefit plans because of the limitations 

  
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on benefits contained in Code section 415 and/or Code section 401(a)(17). It is intended that the provisions of this Article which relate to the limitations imposed by Code section 415 constitute
a separate plan for purposes of Section 3(36) of the Employee Retirement Income Security Act of 1974 (ERISA). 
 3.
Eligibility. An Eligible Employee who is entitled to benefits under a Qualified Pension Plan, and whose retirement income benefits are limited by the provisions of the Qualified Pension Plan (as amended from time to time) relating to the
limits under Code section 415 and/or Code section 401(a)(17) shall receive benefits pursuant to this Article III. 
 4.
Amount of Benefit. The benefit that each Participant shall be entitled to receive under the Plan is the amount reasonably determined by the Company to be the difference between the Participant’s actual benefit under the applicable
Qualified Pension Plan and the benefits that would have been payable under that Plan if: 
  

	 	(a)	 the Qualified Pension Plan had determined pensionable earnings on a “mix and match” basis, as defined below; and 

 

	 	(b)	 the Participant’s benefit under the Qualified Pension Plan had not been limited by Code section 415 and/or Code section 401(a)(17).

 If a Participant’s compensation under the Management Incentive Compensation Plan (“MICP”) is included in
pensionable earnings under a Qualified Pension Plan, the Participant’s total pensionable earnings shall be determined on a “mix and match” basis. The Participant’s annual compensation earned under the MICP shall be calculated
separately from other annual pensionable earnings. The average of the three (3) highest years of MICP compensation during the last 10 years shall be added to the average of the three (3) highest years of other pensionable earnings during
the last 10 years to arrive at total final average pensionable earnings for the applicable period under the Qualified Pension Plan. 

Benefits under this Article III are intended to supplement the Participant’s actual benefit under the applicable
Qualified Pension Plan as necessary to provide the Participant with the full benefit the Participant would have received under the applicable Qualified Pension Plan on a “mix and match” basis and without regard to the limitations of Code
section 415 and Code section 401(a)(17). To prevent duplication of benefits, the full benefit under the applicable Qualified Pension Plan (without regard of to the portion of the benefit attributable to employee contributions, if any) shall be
calculated without reduction for Code section 415 and Code section 401(a)(17), then reduced by the benefit payable from the applicable Qualified Pension Plan, and then reduced further by the Grandfathered 2004 Benefit, then further reduced by the
benefit payable from other nonqualified pension plans of the Company which corresponds to the benefit payable under the applicable Qualified Pension Plan (including any benefit payable under Annex B of this Plan and excluding any nonqualified plans
designed to supplement qualified defined contribution plans) to the extent permitted under Code section 409A. The remaining benefit shall be paid from this Plan pursuant to this Article III. Participants have no right to duplicate benefits with
respect to the same period of service, and the Committee may make such adjustments to the benefits under this Plan as the Committee deems necessary to prevent duplication of benefits. 

The benefit payable under this Article III shall be payable to the Participant or Beneficiary who is receiving or entitled to
receive benefits with respect to the Participant under the Qualified Pension Plan. 
 If the benefits payable under the
Qualified Pension Plan to any Participant are increased following the Participant’s retirement as a result of a general increase in the benefits payable to retired employees under that Plan, no such increase will be made under this Plan. 

  
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 5. Plan Freeze. Notwithstanding anything herein to the contrary, base rate
of pay, bonuses or other incentive compensation, or other amounts earned for or relating to the period after December 31, 2015 shall not be used in determining benefits under the Plan, and service after December 31, 2019 shall not be
considered, deemed to be, or otherwise treated as Credited Service or similar benefit accrual service in determining benefits payable under the Plan. 

ARTICLE IV 

SUPPLEMENTAL BENEFITS 

In addition to the benefits described in Article III, the Plan also provides benefits to certain key management employees, as
set forth in the Annexes. Eligibility for, and the amount of, such benefits is set forth in the applicable Annex. Payment options for such benefits are described in Article V. 

ARTICLE V 
 PAYMENT OF
BENEFITS 
 1. Vesting. Except as provided in Article VI, and subject to the Company’s right to discontinue
the Plan as provided in Article VII, a Participant shall have a non-forfeitable benefit payable under this Plan to the same extent as benefits are vested under the applicable Qualified Pension Plan. As provided in Article VI, if a Participant
acquires a right to receive payments under this Plan, such right shall be no greater than the right of any unsecured general creditor of the Company. 

2. Form and Timing of Payment. Except as otherwise provided herein, a Participant may make an initial payment election
between an annuity and a lump sum payment under the terms and conditions described in this Section 2. All elections under this Section 2 must be made in the form and manner prescribed by the Senior Vice President, Human Resources. No
election made pursuant to this Section 2 may affect a payment due in the same calendar year in which the election is made or accelerate payment into the calendar year in which the election is made. 

a. Regular Form. Unless a Participant has elected a lump sum payment under Section 2.b of this Article V,
benefits under this Plan shall be paid in the form of an annuity. Participants who first become eligible for participation in the Plan after December 16, 2005 shall receive their benefits in the form of an annuity. Benefits paid in a form
described in this Section 2.a. shall commence as soon as administratively practicable (but no more than 90 days) following the later of (i) the month in which the Participant has a Termination of Employment, or (ii) the month in which
the Participant attains age fifty-five (55). Notwithstanding the foregoing sentence, benefits paid in a form described in this Section 2.a. to a Participant who is reasonably determined by the Company to be a “specified employee”
within the meaning of Code section 409A(2)(B)(i), shall not commence before the later of (i) six (6) months following the month in which the Participant has a Termination of Employment, or (ii) the month in which the Participant
attains age fifty-five (55). No interest shall be paid between the date of Termination of Employment or attainment of age fifty-five (55), as applicable, and the payment date. 

i. Selection of Annuity Form. Prior to his Termination of Employment or attainment of age 55, as applicable, a
Participant may elect to receive benefits in any actuarially equivalent annuity form that is available under the applicable Qualified Pension Plan on the date of the Participant’s election that has been designated by the Senior Vice President,
Human Resources as available for election under this Plan. If the Participant has not validly elected an annuity form before his Termination of Employment or attainment of age 55, as applicable, under this Section 2.a. or a lump sum payment as
provided in Section 2.b. of Article V, (i) an 

  
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unmarried Participant shall be deemed to have elected payment in the form of a monthly annuity for the life of the Participant with no further payments to anyone after his or her death, and
(ii) a married Participant shall be deemed to have elected payment in the form of a reduced monthly annuity for the life of the Participant with, after the Participant’s death, a 50% survivor annuity for the life of the Participant’s
spouse. Actuarial adjustments shall be based on the factors set forth in the Qualified Pension Plan. 
 b. Lump Sum
Option. This Section shall not apply to Participants who first become eligible for participation in the Plan after December 16, 2005. In lieu of the forms described in Section 2.a. of Article V, a Participant may make a one-time
initial election to receive a full lump sum payment in an amount which is the Actuarial Equivalent of a monthly annuity for the life of the Participant with no further payments to anyone after his or her death, provided the election is filed with
the Company in writing no later than December 31, 2008 (or such other date determined by the Senior Vice President, Human Resources and communicated to Participants) and the Participant’s employment has not terminated employment prior to
filing the election. For all Participants who elect a lump sum under this Section 2.b., the lump sum payment shall be made six (6) months following the later of (i) the month in which the Participant has a Termination of Employment,
or (ii) the month in which the Participant attains age fifty-five (55). No interest shall be paid between the date of Termination of Employment or attainment of age fifty-five (55), as applicable, and the payment date. All elections under this
Section 2.b. must be made in the form and manner prescribed by the Company. Such election shall be irrevocable except as provided in Section 2(e) of Article V. 

c. Cash-out of Small Benefits. Notwithstanding the above, if the Value of the sum of the benefits payable to a
Participant or Beneficiary under this Plan does not exceed $10,000, all such benefits will be paid in a single lump sum payment in full discharge of all liabilities with respect to such benefits. For purposes of this Section, Value shall be
determined as of the Participant’s Termination of Employment or attainment of age fifty-five (55), as applicable, and shall mean the present value of a Participant’s or Beneficiary’s benefits, excluding the Grandfathered 2004 Benefit,
based (i) for Terminations of Employment prior to January 1, 2008 upon the applicable mortality table and applicable interest rate in Code section 417(e)(3)(ii), or for terminations on or after January 1, 2008, upon the applicable
mortality table and applicable interest rate under Code section 417(e)(3), as amended by the Pension Protection Act of 2006, for the calendar month preceding the Plan Year in which the termination of employment or attainment of age fifty-five
(55) occurs. Notwithstanding the foregoing sentence, benefits paid under this Section 2.c. to a Participant who is reasonably determined by the Company to be a “specified employee” within the meaning of Code section
409A(2)(B)(i), shall not commence before six (6) months following the later of (i) the month in which the Participant has a Termination of Employment, or (ii) the month in which the Participant attains age fifty-five (55). No interest
shall be paid between the date of Termination of Employment or attainment of age fifty-five (55), as applicable, and the payment date. 

d. Payment Upon Death or Disability. 

i. Death. No other death benefits are provided under this Plan other than as specified in this Section 2.d.i.

 A. Pre-Retirement Survivor Benefit. In the event the Participant dies prior to terminating employment or
attaining age 55, a pre-retirement survivor benefit will be payable to the Participant’s surviving spouse (if any) (the “Pre-Retirement Survivor Benefit” and the “Surviving Spouse”) in the form elected by the Participant
under the terms of the Plan. If the Participant’s benefit was payable in a lump sum, the lump sum shall be the Actuarial Equivalent of a monthly annuity payable for the life of the Surviving Spouse with no further payments to anyone after his
or her death. The Pre-Retirement Survivor Benefit shall commence as soon as administratively practicable (but no later than 90 days) following the later of (i) the month in which the 

  
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Participant dies, or (ii) the month in which the Participant would have attained age fifty-five (55). No Pre-Retirement Survivor Benefit is payable to anyone other than the
Participant’s Surviving Spouse. Notwithstanding the foregoing, with respect to all Participants who elected a lump sum under Section 2.b., a lump sum Pre-Retirement Survivor Benefit shall be paid to the Participant’s Surviving Spouse
six (6) months following the later of (i) the month in which the Participant dies, or (ii) the month in which the Participant would have attained age fifty-five (55). 

B. Death After Termination of Employment or Attainment of Age 55. If a Participant who is required to wait six
(6) months for a lump sum payment (in accordance with Section 2 of Article V) dies after the Participant’s Termination of Employment or attainment of age fifty-five (55), as applicable, but before payment is made, the lump sum payment
shall be made to the Participant’s Beneficiary as administratively practicable (but no later than 90 days) following the death of the Participant. 

ii. Disability. Notwithstanding the provisions of this Article V, the benefit of a Disabled Participant who is
eligible for a disability pension from the Lockheed Martin Retirement Income Plan, the KAPL Inc. Pension Plan for Salaried Employees, or the Lockheed Martin Corporation Retirement Income Plan III shall be paid in the form elected by the Participant
under the terms of the Plan as soon as administratively practicable (but no later than 90 days) following the date the Participant is reasonably determined by the Company to be Disabled. For the purposes of this Section 2.d.ii., the terms
“Disabled” or “Disability” shall have the meaning set forth in the Lockheed Martin Retirement Income Plan, the KAPL Inc. Pension Plan for Salaried Employees, or the Lockheed Martin Corporation Retirement Income Plan III, as
applicable, to the extent consistent with the requirements of Code section 409A(a)(2)(C). 
 e. Prospective Change of
Payment Elections. Participants may elect to change the form of payment of benefits or further delay the commencement of benefits as provided in this Section 2.e. All elections under this Section 2.e. must be made in the form and
manner prescribed by the Company. This Section 2.e. does not apply to Surviving Spouses or Beneficiaries. Subject to the requirements of Code section 409A, other changes in the form of benefit, including changes between actuarially equivalent
forms of benefit, if any, may be made only as determined by the Senior Vice President, Human Resources, of the Company in accordance with Code section 409A. 

i. Form of Payment. A Participant who has validly elected (or deemed to have elected) payment as an annuity (as
described in Section 2.a. of Article V) or has validly elected a lump sum payment (in accordance with Section 2.b. of Article V) may later elect to receive payment in any form (annuity or lump sum) designated by the Senior Vice President,
Human Resources, of the Company, provided that such election is made in the form and manner determined by the Senior Vice President, Human Resources not less than twelve (12) months before the date the payment would have first commenced under
the Participant’s prior election. In addition, the first payment under the new election must commence no earlier than sixty (60) months from the date when the payment would have first commenced under the Participant’s prior election.
Such change in election shall not be given effect until twelve (12) months from the date that the change in election is delivered to the Company. 

ii. Timing of Payment. Regardless of the form of payment, a Participant may elect to delay payment of his benefit
provided such election is made in writing in the form and manner determined by the Senior Vice President, Human Resources, not less than twelve (12) months before the date the payment would have first commenced under the Participant’s
prior election. In addition, the first payment under the new election must commence no earlier than sixty (60) months from when the payment would have first commenced 

  
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under the Participant’s prior election. No interest shall be paid between the date of termination of employment or attainment of age fifty-five (55), as applicable, and the payment date.
Such change in election shall not be given effect until twelve (12) months from the date that the change in election is delivered to the Company. 

This Section 2.e. does not apply to Surviving Spouses or Beneficiaries. 

f. Notwithstanding the above, for periods prior to January 1, 2009, (or such later date as may be provided by the
Internal Revenue Service in guidance of general applicability), the Senior Vice President, Human Resources may provide alternative rules for elections with respect to the commencement of payment and form of payment, provided that such rules conform
to Code section 409A and Internal Revenue Service guidance issued thereunder. 
 g. If a Participant participates in more
than one supplemental pension plan sponsored by the Corporation, the Participant must make a single election that shall apply to his or her benefits under all such plans with respect to the form of annuity (under Section 2.a. of this Article 5)
and with respect to prospective changes of payment (under Section 2.e. of this Article 5). 
 3. Deductibility of
Payments. Subject to the provisions of Section Code section 409A, in the event that the Company reasonably anticipates that the payment of benefits in accordance with the Participant’s election under Section 2 would prevent the Company
from claiming an income tax deduction with respect to any portion of the benefits paid under Code section 162(m), the Committee shall have the right to delay the timing of distributions from the Participant’s Account as necessary to maximize
the Company’s tax deductions. In the exercise of its discretion to adopt a delayed distribution schedule, the Committee shall undertake to have distributions made at such times and in such amounts as the Company reasonably anticipates, or
should reasonably anticipate, that if the payment is made during such year, the deduction will not be barred by Code section 162(m) or upon a Termination of Employment in accordance with Treasury Regulation section
1.409A-2(b)(7)(i), consistent with the objective of maximum deductibility for the Company. The Committee shall have no authority to reduce a Participant’s Account Balance or to pay aggregate benefits less
than the Participant’s Account Balance in the event that all or a portion thereof would not be deductible by the Company. All scheduled payments under this Plan and any other plan required to be aggregated with this Plan must be delayed in
order for such payment to be delayed pursuant to this Section 3. 
 4. Change of Law. Notwithstanding anything
herein to the contrary, if the Committee determines in good faith, based on consultation with counsel and in accordance with the requirements of Code section 409A, that the federal income tax treatment or legal status of this Plan has or may be
adversely affected by a change in the Code, Title I of the Employee Retirement Income Security Act of 1974, or other applicable law or by an administrative or judicial construction thereof, the Committee may direct that the benefits of affected
Participants or of all Participants be distributed as soon as practicable after such determination is made, to the extent deemed necessary or advisable by the Committee to cure or mitigate the consequences, or possible consequences of, such change
in law or interpretation thereof. 
 5. Acceleration upon Change in Control. Notwithstanding any other provision of
the Plan, the accrued benefit of each Participant shall be one-hundred percent (100%) vested and be distributed in a single lump sum within fifteen (15) calendar days following a “Change in Control.” 

For purposes of this Plan, a Change in Control shall include and be deemed to occur upon the following events: 

 

	 	(a)	 A tender offer or exchange offer is consummated for the ownership of securities of the Company representing 25% or more of the combined voting
power of the Company’s then outstanding voting securities entitled to vote in the election of directors of the Company. 

  
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	 	(b)	 The Company is merged, combined, consolidated, recapitalized or otherwise reorganized with one or more other entities that are not Company
Subsidiaries and, as a result of the merger, combination, consolidation, recapitalization or other reorganization, less than 75% of the outstanding voting securities of the surviving or resulting corporation shall immediately after the event be
owned in the aggregate by the stockholders of the Company (directly or indirectly), determined on the basis of record ownership as of the date of determination of holders entitled to vote on the action (or in the absence of a vote, the day
immediately prior to the event). 

  

	 	(c)	 Any person (as this term is used in Sections 3(a)(9) and 13(d)(3) of the Exchange Act, but excluding any person described in and satisfying the
conditions of Rule 13d-1(b)(1) thereunder), becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 25% or more of the combined voting power of the
Company’s then outstanding securities entitled to vote in the election of directors of the Company. 

  

	 	(d)	 At any time within any period of two years after a tender offer, merger, combination, consolidation, recapitalization, or other reorganization or a
contested election, or any combination of these events, the “Incumbent Directors” shall cease to constitute at least a majority of the authorized number of members of the Board. For purposes hereof, “Incumbent Directors” shall
mean the persons who were members of the Board immediately before the first of these events and the persons who were elected or nominated as their successors or pursuant to increases in the size of the Board by a vote of at least three-fourths of
the Board members who were then Board members (or successors or additional members so elected or nominated). 

  

	 	(e)	 The stockholders of the Company approve a plan of liquidation and dissolution or the sale or transfer of substantially all of the Company’s
business and/or assets as an entirety to an entity that is not a Company Subsidiary. 

 Notwithstanding
the foregoing, no distribution shall be made solely on account of a Change in Control and prior to the benefit commencement date specified in Section 2 of Article V unless the Change in Control is both an event qualifying for a distribution of
deferred compensation under Section 409A(a)(2)(A)(v) of the Code and an event qualifying under this Section 5. This Section 5 shall apply only to a Change in Control of Lockheed Martin Corporation and shall not cause immediate payout
of benefits under this Plan in any transaction involving the Company’s sale, liquidation, merger, or other disposition of any subsidiary. 

The Committee may cancel or modify this Section 5 at any time prior to a Change in Control. In the event of a Change in
Control, this Section 5 shall remain in force and effect, and shall not be subject to cancellation or modification for a period of five years, and any defined term used in Section 5 shall not, for purposes of Section 5, be subject to
cancellation or modification during the five year period. 
 6. Tax Withholding. To the extent required by law, the
Company shall withhold from benefit payments hereunder any Federal, state, or local income or payroll taxes required to be withheld and shall furnish the recipient and the applicable government agency or agencies with such reports, statements, or
information as may be legally required. No benefit payments shall be made to the Participant until the withholding obligation for taxes under Code sections 3101(a) and 3101(b) has been satisfied with respect to the Participant. 

7. Retiree Medical Withholding. A Participant may direct the Company to withhold from the Participant’s benefit
payments hereunder all or a portion of the amount that the Participant is required to pay for Company-provided retiree medical coverage. 
  

  
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 8. Reemployment. The retirement benefit otherwise payable hereunder to any Participant who
previously retired or otherwise had a Termination of Employment and is subsequently reemployed may not be suspended during the Participant’s period of reemployment except as permitted under Code section 409A. 

9. Mistaken Payments. No Participant or Beneficiary shall have any right to any payment made (1) in error, (2) in
contravention to the terms of the Plan, the Code, or ERISA, or (3) because the Committee or its delegates were not informed of any death. The Committee shall have full rights under the law and ERISA to recover any such mistaken payment, and the
right to recover attorney’s fees and other costs incurred with respect to such recovery. Recovery shall be made from future Plan payments, or by any other available means. 

ARTICLE VI 
 EXTENT OF
PARTICIPANTS’ RIGHTS 
 1. Unfunded Status of Plan. This Plan constitutes a mere contractual promise by the
Company to make payments in the future, and each Participant’s rights shall be those of a general, unsecured creditor of the Company. No Participant shall have any beneficial interest in any specific assets that the Company may hold or set
aside in connection with this Plan. Notwithstanding the foregoing, to assist the Company in meeting its obligations under this Plan, the Company may set aside assets in a trust or trusts described in Revenue Procedure 92-64, 1992-2 C.B. 422, and the
Company may direct that its obligations under this Plan be satisfied by payments out of such trust or trusts. The assets of any such trust will remain subject to the claims of the general creditors of the Company. It is the Company’s intention
that the Plan be unfunded for Federal income tax purposes and for purposes of Title I of the Employee Retirement Income Security Act of 1974. 

2. Nonalienability of Benefits. A Participant’s rights under this Plan shall not be assignable or transferable and any purported
transfer, assignment, pledge or other encumbrance or attachment of any payments or benefits under this Plan, or any interest therein shall not be permitted or recognized, other than the designation of, or passage of payment rights to, a Beneficiary
or transfer of an interest in this Plan to a Participant’s spouse, former spouse, or child incident to divorce under a Qualified Domestic Relations Order (which shall be interpreted and administered in accordance with Code sections 414(p)(1)(B)
and 409A), provided that the form of payment designated in such order is an annuity as provided in Section 2.a. of Article V. 

3. Forfeiture. If, following the date on which a Participant shall retire under this Plan, a Participant shall engage
in the operation or management of a business, whether as owner, stockholder, partner, officer, employee, consultant, or otherwise, which at such time is in competition with the Company or any of its subsidiaries, or shall disclose to unauthorized
persons information relative to the business of the Company or any of its subsidiaries which the Participant shall have reason to believe is confidential, or otherwise act, or conduct oneself, in a manner which the Participant shall have reason to
believe is contrary to the best interest of the Company, or shall be found by the Committee to have committed an act during the term of the Participant’s employment which would have justified the Participant being discharged for cause, the
Participant’s retirement benefit under this Plan shall terminate. Application of this Section will be at the discretion of the Committee. 

ARTICLE VII 
 AMENDMENT
OR TERMINATION 
 1. Amendment. The Board or its authorized delegate may amend, modify, suspend or discontinue
this Plan at any time subject to any shareholder approval that may be required under applicable law, provided, however, 

  
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that no such amendment shall have the effect of reducing a Participant’s accrued benefit or postponing the time when a Participant is entitled to receive a distribution of his accrued
benefit unless each affected Participant consents to such change. 
 2. Termination. The Board reserves the right to
terminate this Plan at any time and at such times that the Board reasonably determines in its discretion is appropriate and conforms to the requirements of Code section 409A, to pay all Participants their accrued benefits in a lump sum or to make
other provisions for the payment of benefits (e.g. purchase of annuities) immediately following such termination or at such time thereafter as the Board may determine. 

3. Transfer of Liability. The Board reserves the right to transfer to another entity all of the obligations of Company
with respect to a Participant under this Plan if such entity agrees pursuant to a binding written agreement with the Company or its subsidiaries to assume all of the obligations of the Company under this Plan with respect to such Participant. 

4. Merger. The Board reserves the right to merge all or part of this Plan with or into another plan, provided
(1) such other plan preserves all of the obligations of the Company under this Plan with respect to such Participant and (2) each Participant in the Plan would (if the Plan then terminated) receive a benefit immediately after the merger
which is equal to or greater than the benefit he would have been entitled to receive immediately before the merger (if the Plan had then terminated). 

ARTICLE VIII 

ADMINISTRATION 
 1. The
Committee. This Plan shall be administered by the Management Development and Compensation Committee of the Board or such other committee of the Board as may be designated by the Board. The members of the Committee shall be designated by the
Board. A majority of the members of the Committee (but not fewer than two) shall constitute a quorum. The vote of a majority of a quorum or the unanimous written consent of the Committee shall constitute action by the Committee. The Committee and
its delegates shall have full discretion to construe and interpret the terms and provisions of the Plan, which interpretation or construction shall be final, conclusive and binding on all parties, including but not limited to the Company and any
Participant or Beneficiary, except as otherwise provided by law. Notwithstanding anything contained in the Plan or in any document issued under the Plan, it is intended that the Plan will at all times conform to the requirements of Code section
409A, including the rules for “grandfathered” benefits under Code section 409A, and any regulations or other guidance issued thereunder, and that the provisions of the Plan will be interpreted to meet such requirements. If any provision of
the Plan is determined not to conform to such requirements, the Plan shall be interpreted to omit such offending provision. 
 2.
Delegation and Reliance. The Committee may delegate to the officers or employees of the Company the authority to execute and deliver those instruments and documents, to do all acts and things, and to take all other steps deemed necessary,
advisable or convenient for the effective administration of this Plan in accordance with its terms and purpose. In making any determination or in taking or not taking any action under this Plan, the Committee may obtain and rely upon the advice of
experts, including professional advisors to the Company. Except as otherwise provided in Section 6, the Committee delegates the authority to adjudicate claims to the Pension Plans Administrative Committee. No member of the Committee or officer
of the Company who is a Participant hereunder may participate in any decision specifically relating to his or her individual rights or benefits under the Plan. 
  

  
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 3. Exculpation and Indemnity. Neither the Company nor any member of the Board or of the
Committee, nor any other person participating in any determination of any question under this Plan, or in the interpretation, administration or application thereof, shall have any liability to any party for any action taken or not taken in good
faith under this Plan or for the failure of the Plan or any Participant’s rights under the Plan to achieve intended tax consequences, or to comply with any other law, compliance with which is not required on the part of the Company. 

4. Facility of Payment. If a minor, person declared incompetent, or person incapable of handling the disposition of his or her property
is entitled to receive a benefit, make an application, or make an election hereunder, the Committee or the Pension Plans Administrative Committee may direct that such benefits be paid to, or such application or election be made by, the guardian,
legal representative, or person having the care and custody of such minor, incompetent, or incapable person. Any payment made, application allowed, or election implemented in accordance with this Section shall completely discharge the Company and
the Committee (or Pension Plans Administrative Committee) from all liability with respect thereto. 
 5. Proof of Claims. The Claims
Administrator may require proof of the death, disability, incompetency, minority, or incapacity of any Participant or Beneficiary and of the right of a person to receive any benefit or make any application or election. 

6. Claim Procedures. The procedures when a claim under this Plan is wholly or partially denied by the Claims Administrator are as
follows: 
  

	 	(a)	The Claims Administrator shall, within 90 days after receipt of a claim, furnish to claimant a written notice setting forth, in a manner calculated to be understood by claimant: (1) the specific reason or reasons
for the denial; (2) specific reference to pertinent Plan provisions on which the denial is based; (3) a description of any additional materials or information necessary for the claimant to perfect the claim and an explanation of why such
material or information is necessary; (4) an explanation of the steps to be taken if the claimant wishes to have the denial reviewed; and (5) a statement of the claimant’s right to bring a civil action under section 502(a) of ERISA
following an adverse determination on review. The 90 day period may be extended for not more than an additional 90 days if special circumstances make such an extension necessary. The Claims Administrator shall give the claimant, before the end of
the initial 90 day period, a written notice of such extension, stating such special circumstances and the date by which the Claims Administrator expects to render a decision. 

 

	 	(b)	By a written application filed with the Claims Administrator within 60 days after receipt by claimant of the written notice described in paragraph (a), the claimant or his duly authorized representative may request
review of the denial of his claim. 

  

	 	(c)	In connection with such review, the claimant or his duly authorized representative may submit issues, comments, documents, records and other information relating to the claim for benefits to the Claims Administrator. In
addition, the claimant will be provided, upon request and free of charge, reasonable access to and copies of all documents, records, or other information “relevant” to claimant’s claim for benefits. A document, record, or other
information is “relevant” if it: (1) was relied upon in making the benefit determination; (2) was submitted, considered or generated in the course of making the benefit determination, without regard to whether such document,
record or information was relied upon in making the benefit determination; or (3) demonstrates compliance with administrative processes and safeguards required under federal law. 

 

  
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	 	(d)	The Plan will provide an impartial review that takes into account all comments, records and other information submitted by the claimant relating to the claim, without regard to whether such information was submitted or
considered in the initial benefit determination. The Claims Administrator shall make a decision and furnish such decision in writing to the claimant within 60 days after receipt by the Claims Administrator of the request for review. This period may
be extended to not more than 120 days after such receipt if special circumstances make such an extension necessary. The claimant will be notified in writing prior to the expiration of the original 60 day period if such an extension is required, and
such notice will include the reason for the extension and the date by which it is expected that a decision will be reached. The decision on review shall be in writing, set forth in a manner calculated to be understood by the claimant and shall
include: (1) the specific reasons for the decision; (2) specific reference to the pertinent Plan provisions on which the decision is based; (3) a statement that the claimant is entitled to receive, upon request and free of charge,
reasonable access to and copies of all documents, records, and other information “relevant” to the claimant’s claim for benefits; (4) a description of any additional material or information necessary for the claimant to perfect
the claim and an explanation of why such material or information is necessary; (5) a statement describing any voluntary appeal procedures and the claimant’s right to obtain information about such procedures, if any; and (6) a
statement of the claimant’s right to bring a civil action under section 502(a) of ERISA following an adverse benefit determination on review. 

  

	 	(e)	If in the event that the reviewing committee must make a determination of disability in order to decide a claim, the reviewing committee shall follow the special claims procedures for disability benefits described in
Department of Labor Regulation section 2560.503-1(d). The reviewing committee shall render a decision within a reasonable time (not to exceed 90 days) after the claimant’s request for review, rather than within 120 days as set forth in the
above paragraph. 

  

	 	(f)	The Claims Administrator shall be the Lockheed Martin Corporation Pension Plans Administrative Committee. Notwithstanding the foregoing, with respect to claims and appeals brought by elected officers of the Company, the
Claims Administrator shall be the Committee. 

 ARTICLE IX 

GENERAL AND MISCELLANEOUS PROVISIONS 

1. This Plan shall not in any way obligate the Company to continue the employment of a Participant with the Company, nor does
this Plan limit the right of the Company at any time and for any reason to terminate the Participant’s employment. In no event shall this Plan constitute an employment contract of any nature whatsoever between the Company and a Participant. In
no event shall this Plan by its terms or implications in any way limit the right of the Company to change an Eligible Employee’s compensation or other benefits. 

2. Any benefits accrued under this Plan shall not be treated as compensation for purposes of calculating the amount of a
Participant’s benefits or contributions under any pension, retirement, or other plan maintained by the Company, except as provided in such other plan. 

3. Any written notice to the Company referred to herein shall be made by mailing or delivering such notice to the Company at
6801 Rockledge Drive, Bethesda, Maryland 20817, to the attention of Pension Plan Operations. Any written notice to a Participant shall be made by delivery to the Participant in person, through electronic transmission, or by mailing such notice to
the Participant at his or her place of residence or business address. 
  

  
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 4. In the event it should become impossible for the Company or the Committee to
perform any act required by this Plan, the Company or the Committee may perform such other act as it in good faith determines will most nearly carry out the intent and the purpose of this Plan. 

5. Each Eligible Employee shall be deemed conclusively to have accepted and consented to all the terms of this Plan and all
actions or decisions made by the Company, the Board, or Committee with regard to the Plan. 
 6. The provisions of this Plan
shall be binding upon and inure to the benefit of the Company, its successors, and its assigns, and to the Participants and their heirs, executors, administrators, and legal representatives. 

7. The validity of this Plan or any of its provisions shall be construed, administered, and governed in all respects under and
by the laws of the State of Maryland, except as to matters of Federal law. If any provisions of this instrument shall be held by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof shall continue to be
fully effective. 
 8. This Plan and its operation, including the payment of cash hereunder, is subject to compliance with
all applicable Federal and state laws, rules and regulations and such other approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. 

ARTICLE X 
 EFFECTIVE
DATE 
 This Plan, including any amendment and restatement of the prior plans, is generally effective July 1, 2015
or such other date as set forth herein for a particular provision. 
 Lockheed Martin Corporation has caused this
instrument to be executed this 20th day of July, 2015. 
 LOCKHEED MARTIN
CORPORATION 
  

			
	By:		 /s/ Patricia L. Lewis

			Patricia L. Lewis
			Senior Vice President, Human Resources

  
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 ANNEX A 

[RESERVED] 

  
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 ANNEX B TO JANUARY 1, 2005 RESTATEMENT 

Additional Benefits Previously Provided under the 

Lockheed Martin Corporation Supplemental Excess Retirement Plan 

1. Introduction. The benefits described in this Annex previously were provided as part of the Lockheed Martin
Corporation Supplemental Excess Retirement Plan. That Plan was formerly known as the Martin Marietta Corporation Supplemental Excess Retirement Plan, and included provisions previously contained in the Lockheed Martin Supplemental Retirement Income
Plan. 
 2. Purpose. This Annex provides a supplemental benefit to salaried employees who were considered highly
compensated employees as of December 31, 1990 and who were also participants in the Martin Marietta Corporation Retirement Income Plan as of September 30, 1975, whose benefits are limited by Code section 401(a)(4). 

3. Eligibility. This Annex provides benefits to salaried employees who were considered highly compensated employees as
of December 31, 1990 (as determined under the Martin Marietta Corporation Retirement Income Plan as in effect on that date) and who were also covered employees in the Martin Marietta Corporation Retirement Income Plan as of September 30,
1975 or were participants for 12 consecutive months prior to September 30, 1975 who receive a pension benefit calculated under the Pre-ERISA formula in the Martin Marietta Corporation Retirement Income Plan. 

4. Amount of Benefit. Participants shall receive a retirement benefit from this Plan that is reasonably determined by
the Company to equal to the excess, if any, of (1) the pension benefit calculated based on the formula described in Article V(1)(b) or Article IX(2)(b) of the January 1, 1995 Martin Marietta Corporation Retirement Income Plan without
regard to the limitation described in Article V(1)(c), Article IX(2)(c) or Code section 415 or Code section 401(a)(17), reduced by the greater of the pension benefits described in Article V(1)(b) or Article IX(2)(b) of the January 1, 1995
Retirement Income Plan. To prevent duplication of benefits, the benefit payable under this Annex shall be coordinated with any benefit payable under Article III of the Plan, as set forth in Article III. 

In no event shall the computation of benefits under this Annex take into account any service performed by a Participant after
separation from employment with the Company or its subsidiaries. 
 APPENDIX A TO JANUARY 1, 2005 RESTATEMENT 

Qualified Pension Plans 
  

	 	1.	 Lockheed Martin Corporation Retirement Plan for Certain Salaried Employees 

	 	2.	 Lockheed Martin Corporation Retirement Income Plan 

	 	3.	 Lockheed Martin Account Balance Retirement Plan 

	 	4.	 Lockheed Martin Corporation Retirement Income Plan III 

	 	5.	 Lockheed Martin Pension Plan for Former Salaried and Hourly Employees of Inactive Commercial Divisions 

	 	6.	 KAPL Inc. Pension Plan for Salaried Employees 

	 	7.	 Lockheed Martin Global Telecommunications Retirement Plan 

  
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 APPENDIX B TO JANUARY 1, 2005 RESTATEMENT 

This Appendix B shall govern the portion of a Participant’s benefit that accrued and vested under the Plan on or before
December 31, 2004. This Appendix B shall not apply to the portion of a Participant’s benefit that accrued and vested under the Plan on or after January 1, 2005. 

ARTICLE I 
 PURPOSES OF
THE PLAN 
 The purposes of the Lockheed Martin Corporation Supplemental Retirement Plan (the “Plan”) are:

  

	 	(a)	 to provide certain employees of Lockheed Martin Corporation and its subsidiaries (the “Company”) with those benefits that cannot be paid
from the Company’s tax-qualified plans because of the limitations on contributions and benefits contained in Internal Revenue Code section 415; 

  

	 	(b)	 to provide certain key management employees of the Company with those benefits that cannot be paid from the Company’s tax-qualified plans
because of other limitations on contributions and benefits contained in the Internal Revenue Code, such as the limitations contained in Code section 401(a)(17); and 

 

	 	(c)	 to provide certain key management employees of the Company with other supplemental benefits. 

The following plans and predecessor plans are amended, restated and merged to form this Plan, effective July 1, 2004:

  

	 	5.	 Supplemental Retirement Benefit Plan of Lockheed Martin Corporation (formerly the Supplemental Retirement Benefit Plan of Lockheed Corporation)

	 	6.	 Lockheed Martin Corporation Supplemental Excess Retirement Plan (formerly the Martin Marietta Corporation Supplemental Excess Retirement Plan)

	 	7.	 Lockheed Martin Supplemental Retirement Income Plan (formerly the Martin Marietta Supplemental Retirement Income Plan) 

	 	8.	 Lockheed Martin Tactical Systems Supplemental Executive Retirement Plan (formerly the Loral Supplemental Executive Retirement Plan).

 ARTICLE II 

DEFINITIONS 

Unless the context indicates otherwise or the term is defined below, all terms shall be defined in accordance with the
Lockheed Martin Corporation Retirement Program. 
  

	 	3.	 ACTUARIAL EQUIVALENT – The Actuarial equivalent shall mean a benefit which has the equivalent value computed using the interest rate which
would be used by the Pension Benefit Guaranty Corporation to determine the present value of an immediate lump sum distribution on termination of a pension plan, as in effect on first day of the month of termination of employment plus one percent
(1%), and the 1983 Group Annuity Mortality Table with sex distinction. 

  

  
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	 	4.	 BENEFICIARY — The person or persons designated by the Participant as his or her beneficiary under the Qualified Pension Plan. If no
beneficiary is designated under the Qualified Pension Plan, then the beneficiary shall be (a) the Participant’s Spouse or (b) if there is no Spouse surviving the Participant, the Participant’s estate. 

 

	 	3.	 BOARD — The Board of Directors of Lockheed Martin Corporation. 

 

	 	4.	 CODE — The Internal Revenue Code of 1986, as amended. 

 

	 	5.	 COMMITTEE — The committee described in Section 1 of Article VIII. 

 

	 	6.	 COMPANY – Lockheed Martin Corporation and its subsidiaries. 

7. ELIGIBLE EMPLOYEE — An employee of the Company who (1) participates in a Qualified Pension Plan and whose
benefits thereunder are affected by the limitation on benefits imposed by Section 415 or 401(a)(17) of the Code, or (2) is designated by the Committee as eligible to participate in the Plan; and who satisfies such additional requirements
for participation in this Plan as the Committee may from time to time establish. The Lockheed Martin Pension Plans Administration Committee (the “Pension Committee”) shall interpret the participation requirements established by the
Committee for all participants except elected officers subject to Section 16(b) of the Securities and Exchange Act of 1934. Determinations of participation requirements for elected officers shall be made by the Committee. 

8. PARTICIPANT — An Eligible Employee who meets the requirements for participation contained in Article III or the
Annexes; the term shall include a former employee and survivors/beneficiaries whose benefit has not been fully distributed. A Participant shall cease to be an active Participant upon termination of employment, when he otherwise ceases to be an
Eligible Employee, or when he otherwise ceases to meet the requirements for participation as amended from time to time. 

9. QUALIFIED PENSION PLAN – A defined benefit plan specified in Appendix A in which the Participant participates. 

10. PLAN – The Lockheed Martin Corporation Supplemental Retirement Plan, or any successor plan. 

11. YEAR — The calendar year. 

ARTICLE III 
 EXCESS
BENEFIT PROVISIONS 
 1. Introduction. This Article sets forth the terms of the Plan relating to benefits
determined by reference to the limitations imposed by Code section 415 and/or Code section 401(a)(17). This Article amends and restates the provisions relating to those benefits previously contained in the following plans: 

 

	 	(a)	 the Supplemental Retirement Benefit Plan of Lockheed Martin Corporation (formerly known as the Supplemental Benefit Plan of Lockheed Corporation);

  

	 	(b)	 the Lockheed Martin Corporation Supplemental Excess Retirement Plan (formerly know as the Martin Marietta Corporation Supplemental Excess
Retirement Plan); and 

  
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	 	(c)	 the Lockheed Martin Tactical Systems Supplemental Executive Retirement Plan (formerly known as the Loral Supplemental Executive Retirement Plan).

 2. Purpose. Benefits under this Article III supplement the benefits of Eligible Employees to the
extent that such benefits cannot be paid from the Company’s tax-qualified defined benefit plans because of the limitations on benefits contained in Code section 415 and/or Code section 401(a)(17). It is intended that the provisions of this
Article which relate to the limitations imposed by Code section 415 constitute a separate plan for purposes of Section 3(36) of the Employee Retirement Income Security Act of 1974 (ERISA). 

3. Eligibility. An Eligible Employee who is entitled to benefits under a Qualified Pension Plan, and whose retirement
income benefits are limited by the provisions of the Qualified Pension Plan (as amended from time to time) relating to the limits under Code section 415 and/or Code section 401(a)(17) shall receive benefits pursuant to this Article III. 

4. Amount of Benefit. The benefit that each Participant shall be entitled to receive is the difference between the
Participant’s actual benefit under the applicable Qualified Pension Plan and the benefits that would have been payable under that Plan if: 
  

	 	(a)	 the Qualified Pension Plan had determined pensionable earnings on a “mix and match” basis, as defined below; and 

 

	 	(b)	 the Participant’s benefit under the Qualified Pension Plan had not been limited by Code section 415 and/or Code section 401(a)(17).

 If a Participant’s compensation under the Management Incentive Compensation Plan (“MICP”) is included in
pensionable earnings under a Qualified Pension Plan, the Participant’s total pensionable earnings shall be determined on a “mix and match” basis. The Participant’s annual compensation earned under the MICP shall be calculated
separately from other annual pensionable earnings. The average of the three (3) highest years of MICP compensation during the last 10 years shall be added to the average of the three (3) highest years of other pensionable earnings during
the last 10 years to arrive at total final average pensionable earnings for the applicable period under the Qualified Pension Plan. 

Benefits under this Article III are intended to supplement the Participant’s actual benefit under the applicable
Qualified Pension Plan as necessary to provide the Participant with the full benefit the Participant would have received under the applicable Qualified Pension Plan on a “mix and match” basis and without regard to the limitations of Code
section 415 and Code section 401(a)(17). To prevent duplication of benefits, the full benefit under the applicable Qualified Pension Plan shall be calculated without reduction for Code section 415 and Code section 401(a)(17), then reduced by the
benefit payable from the applicable Qualified Pension Plan, and then reduced further by the benefit payable from other nonqualified pension plans of the Company which corresponds to the benefit payable under the applicable Qualified Pension Plan
(including any benefit payable under Annex B of this Plan and excluding any nonqualified plans designed to supplement qualified defined contribution plans). The remaining benefit shall be paid from this Plan pursuant to this Article III.
Participants have no right to duplicate benefits with respect to the same period of service, and the Committee may make such adjustments to the benefits under this Plan as the Committee deems necessary to prevent duplication of benefits. 

The benefit payable under this Article III shall be payable to the Participant or Beneficiary or any other person who is
receiving or entitled to receive benefits with respect to the Participant under the Qualified Pension Plan. 

  
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 If the benefits payable under the Qualified Pension Plan to any Participant are
increased following the Participant’s retirement as a result of a general increase in the benefits payable to retired employees under that Plan, no such increase will be made under this Plan unless the Committee expressly so provides in
writing. 
 5. Plan Freeze. Notwithstanding anything herein to the contrary, base rate of pay, bonuses or other
incentive compensation, or other amounts earned for or relating to the period after December 31, 2015 shall not be used in determining benefits under the Plan, and service after December 31, 2019 shall not be considered, deemed to be, or
otherwise treated as Credited Service or similar benefit accrual service in determining benefits payable under the Plan. 
 ARTICLE IV

 SUPPLEMENTAL BENEFITS 

In addition to the benefits described in Article III, the Plan also provides benefits to certain key management employees, as
set forth in the Annexes. Eligibility for, and the amount of, such benefits is set forth in the applicable Annex. Payment options for such benefits are described in Article V. 

ARTICLE V 
 PAYMENT OF
BENEFITS 
 1. Vesting. Except as provided in Article VI, and subject to the Company’s right to discontinue
the Plan as provided in Article VII, a Participant shall have a non-forfeitable benefit payable under this Plan to the same extent as benefits are vested under the applicable Qualified Pension Plan. As provided in Article VI, if a Participant
acquires a right to receive payments under this Plan, such right shall be no greater than the right of any unsecured general creditor of the Company. 

2. Form of Payment. Benefits shall be paid in the same form at the same times and for the same period as benefits are
paid with respect to the Participant under the applicable Qualified Pension Plan, except as provided in the following paragraphs. Actuarial adjustments shall be based on the factors set forth in the Qualified Pension Plan, except as provided in the
following paragraphs. If the benefits payable under this Plan correspond to Qualified Pension Plan benefits with multiple commencement dates, each portion of the benefits payable under this Plan shall be paid at the same time as the corresponding
portion of the benefits is paid from the Qualified Pension Plan. If an Employee’s benefits under the Qualified Pension Plan are suspended for any month in accordance with the re-employment provisions thereof, the Participant’s benefit for
that month shall likewise be suspended under this Plan. 
 Lump Sum Option. A Participant may irrevocably elect to
receive a full or partial single lump sum payment in an amount which is the Actuarial Equivalent of the benefit described above, and with no interest for the period between the date of termination of employment and the payment date. This election
must be made within the time period for electing the form of benefit under the corresponding Qualified Pension Plan, by filing a written election in the form and manner prescribed by the Company. Payment will be made six (6) months following
the date payments would otherwise begin pursuant to the above paragraph. 
 Pre-Retirement Survivor Benefit. In the
event the Participant dies prior to the date his or her retirement has commenced under this Plan and the corresponding Qualified Pension Plan, the pre-retirement 

  
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survivor benefit payable to the surviving spouse (if any) under this Plan (the “Pre-Retirement Survivor Benefit” and the “Surviving Spouse”) will be payable, at the election
of the Surviving Spouse, in any of the following forms: 
  

	 	(a)	 in the form of a monthly annuity payable to the Surviving Spouse for his lifetime, with no further payments to anyone after his death (which will
be referred to as the “Regular Form”); 

  

	 	(b)	 in the form of a lump sum payment which is the Actuarial Equivalent of the Regular Form (the “100% Lump Sum”), but with Actuarial
Equivalent determined as of the Election Date , and with no interest for the period between the Election Date (or, if later, the date the Participant would have attained age 55 had he survived) and the payment date; or 

 

	 	(c)	 in the form of a combined lump sum and life annuity benefit of (x) and (y), where (x) equals a lump sum amount selected by the Surviving
Spouse which is less than the 100% Lump Sum and (y) is a monthly single life annuity for the life of Surviving Spouse (with no further payments to anyone after his death) in an amount that can be provided with the difference between
(x) and the 100% Lump Sum. 

 Any election to receive the benefit in the form of a lump sum as set forth in
(b) above or a combined lump sum and annuity as set forth in (c) above must be made by the Surviving Spouse no later than 90 days after the date of the Participant’s death or, if later, the date the Participant would have attained age
55 had he survived (with the date such election is made by the Surviving Spouse referred to as the “Election Date”). In the event the Surviving Spouse makes an election for a lump sum or partial lump sum payment within this period, payment
will not be made to the Surviving Spouse until six months after the Election Date (or, if later, six months after the date the benefit would otherwise be payable under this Plan). 

Cash-out of Small Benefits. Notwithstanding the above, if the Value of the sum of the benefits payable to a
Participant or Beneficiary under this Plan does not exceed the amount that may be distributed without consent under Section 411(a)(11) of the Code, all such benefits will be paid in a single lump sum payment in full discharge of all liabilities
with respect to such benefits. For purposes of this Section, Value shall be determined as of the Participant’s termination of employment, and shall mean the present value of a Participant’s or Beneficiary’s benefits based upon the
applicable mortality table and applicable interest rate in Code section 417(e)(3)(ii) for the calendar month preceding the Plan Year in which the termination of employment occurs. 

3. Deductibility of Payments. In the event that the payment of benefits under Section 2 would prevent the Company
from claiming an income tax deduction with respect to any portion of the benefits paid, the Committee shall have the right to modify the form and timing of distributions as necessary to maximize the Company’s tax deductions. In the exercise of
its discretion to adopt a modified distribution schedule, the Committee shall undertake to have distributions made at such times and in such amounts as most closely approximate the payment method described in Section 2, consistent with the
objective of maximum deductibility for the Company. The Committee shall have no authority to reduce a Participant’s accrued benefit under this Plan or to pay aggregate benefits less than the Participant’s accrued benefit in the event that
all or a portion thereof would not be deductible by the Company. 
 4. Change of Law. Notwithstanding anything to the
contrary herein, if the Committee determines in good faith, based on consultation with counsel, that the federal income tax treatment or legal status of this Plan has or may be adversely affected by a change in the Code, Title I of the Employee
Retirement Income Security Act of 1974, or other applicable law or by an administrative or judicial construction thereof, the Committee may direct 

  
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that the benefits of affected Participants or of all Participants be distributed as soon as practicable after such determination is made, to the extent deemed necessary or advisable by the
Committee to cure or mitigate the consequences, or possible consequences of, such change in law or interpretation thereof. 

5. Acceleration upon Change in Control. 

Notwithstanding any other provision of the Plan, the accrued benefit of each Participant shall be distributed in a single
lump sum within fifteen (15) calendar days following a “Change in Control.” 
 For purposes of this Plan, a
Change in Control shall include and be deemed to occur upon the following events: 
  

	 	(a)	 A tender offer or exchange offer is consummated for the ownership of securities of the Company representing 25% or more of the combined voting
power of the Company’s then outstanding voting securities entitled to vote in the election of directors of the Company. 

  

	 	(b)	 The Company is merged, combined, consolidated, recapitalized or otherwise reorganized with one or more other entities that are not Subsidiaries
and, as a result of the merger, combination, consolidation, recapitalization or other reorganization, less than 75% of the outstanding voting securities of the surviving or resulting corporation shall immediately after the event be owned in the
aggregate by the stockholders of the Company (directly or indirectly), determined on the basis of record ownership as of the date of determination of holders entitled to vote on the action (or in the absence of a vote, the day immediately prior to
the event). 

  

	 	(c)	 Any person (as this term is used in Sections 3(a)(9) and 13(d)(3) of the Exchange Act, but excluding any person described in and satisfying the
conditions of Rule 13d-1(b)(1) thereunder), becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 25% or more of the combined voting power of the
Company’s then outstanding securities entitled to vote in the election of directors of the Company. 

  

	 	(d)	 At any time within any period of two years after a tender offer, merger, combination, consolidation, recapitalization, or other reorganization or a
contested election, or any combination of these events, the “Incumbent Directors” shall cease to constitute at least a majority of the authorized number of members of the Board. For purposes hereof, “Incumbent Directors” shall
mean the persons who were members of the Board immediately before the first of these events and the persons who were elected or nominated as their successors or pursuant to increases in the size of the Board by a vote of at least three-fourths of
the Board members who were then Board members (or successors or additional members so elected or nominated). 

  

	 	(e)	 The stockholders of the Company approve a plan of liquidation and dissolution or the sale or transfer of substantially all of the Company’s
business and/or assets as an entirety to an entity that is not a Subsidiary. 

 This Section 5 shall
apply only to a Change in Control of Lockheed Martin Corporation and shall not cause immediate payout of benefits under this Plan in any transaction involving the Company’s sale, liquidation, merger, or other disposition of any subsidiary. 

 

  
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 The Committee may cancel or modify this Section 5 at any time prior to a
Change in Control. In the event of a Change in Control, this Section 5 shall remain in force and effect, and shall not be subject to cancellation or modification for a period of five years, and any defined term used in Section 6 shall not,
for purposes of Section 5, be subject to cancellation or modification during the five year period 
 6. Tax
Withholding. To the extent required by law, the Company shall withhold from benefit payments hereunder any Federal, state, or local income or payroll taxes required to be withheld and shall furnish the recipient and the applicable government
agency or agencies with such reports, statements, or information as may be legally required. No benefit payments shall be made to the Participant until the withholding obligation for taxes under Code sections 3101(a) and 3101(b) has been satisfied
with respect to the Participant. 
 7. Retiree Medical Withholding. A Participant may direct the Company to withhold
from the Participant’s benefit payments hereunder all or a portion of the amount that the Participant is required to pay for Company-provided retiree medical coverage. 

8. Reemployment. The retirement benefit otherwise payable hereunder to any Participant who previously retired or otherwise had a
Termination of Employment and is subsequently reemployed shall be treated in a manner consistent with the treatment of the benefit under the applicable Qualified Plan. 

9. Mistaken Payments. No participant or Beneficiary shall have any right to any payment made (1) in error, (2) in
contravention to the terms of the Plan, the Code, or ERISA, or (3) because the Committee or its delegates were not informed of any death. The Committee shall have full rights under the law and ERISA to recover any such mistaken payment, and the
right to recover attorney’s fees and other costs incurred with respect to such recovery. Recovery shall be made from future Plan payments, or by any other available means. 

ARTICLE VI 
 EXTENT OF
PARTICIPANTS’ RIGHTS 
 1. Unfunded Status of Plan. This Plan constitutes a mere contractual promise by the
Company to make payments in the future, and each Participant’s rights shall be those of a general, unsecured creditor of the Company. No Participant shall have any beneficial interest in any specific assets that the Company may hold or set
aside in connection with this Plan. Notwithstanding the foregoing, to assist the Company in meeting its obligations under this Plan, the Company may set aside assets in a trust or trusts described in Revenue Procedure 92-64, 1992-2 C.B. 422, and the
Company may direct that its obligations under this Plan be satisfied by payments out of such trust or trusts. The assets of any such trust will remain subject to the claims of the general creditors of the Company. It is the Company’s intention
that the Plan be unfunded for Federal income tax purposes and for purposes of Title I of the Employee Retirement Income Security Act of 1974. 

2. Nonalienability of Benefits. A Participant’s rights under this Plan shall not be assignable or transferable and
any purported transfer, assignment, pledge or other encumbrance or attachment of any payments or benefits under this Plan, or any interest therein shall not be permitted or recognized, other than the designation of, or passage of payment rights to,
a Beneficiary or transfer of an interest in this Plan to a Participant’s former spouse incident to divorce under a Qualified Domestic Relations Order. 

3. Forfeiture. If, following the date on which a Participant shall retire under this Plan, a Participant shall engage
in the operation or management of a business, whether as owner, stockholder, partner, officer, employee, consultant, or otherwise, which at such time is in competition with the Company or any of its subsidiaries, or shall disclose to unauthorized
persons information relative to the business of the Company or any of its subsidiaries which the Participant shall have reason to believe is confidential, or otherwise act, or 

  
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conduct oneself, in a manner which the Participant shall have reason to believe is contrary to the best interest of the Company, or shall be found by the Committee to have committed an act during
the term of the Participant’s employment which would have justified the Participant being discharged for cause, the Participant’s retirement benefit under this Plan shall terminate. Application of this Section will be at the discretion of
the Committee. 
 ARTICLE VII 

AMENDMENT OR TERMINATION 

1. Amendment. The Board or its authorized delegate may amend, modify, suspend or discontinue this Plan at any time
subject to any shareholder approval that may be required under applicable law, provided, however, that no such amendment shall have the effect of reducing a Participant’s accrued benefit or postponing the time when a Participant is entitled to
receive a distribution of his accrued benefit unless each affected Participant consents to such change. 
 2.
Termination. The Board reserves the right to terminate this Plan at any time and to pay all Participants their accrued benefits in a lump sum or to make other provisions for the payment of benefits (e.g. purchase of annuities) immediately
following such termination or at such time thereafter as the Board may determine. 
 3. Transfer of Liability. The
Board reserves the right to transfer to another entity all of the obligations of Company with respect to a Participant under this Plan if such entity agrees pursuant to a binding written agreement with the Company or its subsidiaries to assume all
of the obligations of the Company under this Plan with respect to such Participant. 
 4. Merger. The Board reserves
the right to merge all or part of this Plan with or into another plan, provided (1) such other plan preserves all of the obligations of the Company under this Plan with respect to such Participant and (2) each Participant in the Plan would
(if the Plan then terminated) receive a benefit immediately after the merger which is equal to or greater than the benefit he would have been entitled to receive immediately before the merger (if the Plan had then terminated). 

ARTICLE VIII 

ADMINISTRATION 
 1. The
Committee. This Plan shall be administered by the Management Development and Compensation Committee of the Board or such other committee of the Board as may be designated by the Board. The members of the Committee shall be designated by the
Board. A majority of the members of the Committee (but not fewer than two) shall constitute a quorum. The vote of a majority of a quorum or the unanimous written consent of the Committee shall constitute action by the Committee. The Committee and
its delegates (including the Claims Administrator) shall have full discretion to construe and interpret the terms and provisions of the Plan, which interpretation or construction shall be final, conclusive and binding on all parties, including but
not limited to the Company and any Participant or Beneficiary, except as otherwise provided by law. Except as otherwise provided in Section 6, the Committee delegates the authority to adjudicate claims to the Pension -Plans Administrative
Committee. 
 2. Delegation and Reliance. The Committee may delegate to the officers or employees of the Company the authority to
execute and deliver those instruments and documents, to do all acts and things, and to take all other steps deemed necessary, advisable or convenient for the effective administration of this Plan in accordance with its terms and purpose. In making
any determination or in taking or not taking any action under this Plan, the 

  
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Committee or its delegate may obtain and rely upon the advice of experts, including professional advisors to the Company. No member of the Committee or officer of the Company who is a Participant
hereunder may participate in any decision specifically relating to his or her individual rights or benefits under the Plan. 
 3.
Exculpation and Indemnity. Neither the Company nor any member of the Board or of the Committee, nor any other person participating in any determination of any question under this Plan, or in the interpretation, administration or application
thereof, shall have any liability to any party for any action taken or not taken in good faith under this Plan or for the failure of the Plan or any Participant’s rights under the Plan to achieve intended tax consequences, or to comply with any
other law, compliance with which is not required on the part of the Company. 
 4. Facility of Payment. If a minor, person declared
incompetent, or person incapable of handling the disposition of his or her property is entitled to receive a benefit, make an application, or make an election hereunder, the Committee or the Claims Administrator may direct that such benefits be paid
to, or such application or election be made by, the guardian, legal representative, or person having the care and custody of such minor, incompetent, or incapable person. Any payment made, application allowed, or election implemented in accordance
with this Section shall completely discharge the Company and the Committee (or the Claims Administrator) from all liability with respect thereto. 

5. Proof of Claims. The Pension Plans Administrative Committee may require proof of the death, disability, incompetency, minority, or
incapacity of any Participant or Beneficiary and of the right of a person to receive any benefit or make any application or election. 
 6.
Claim Procedures. The procedures when a claim under this Plan is wholly or partially denied by the Claims Administrator are as follows: 
  

	 	(a)	The Claims Administrator shall, within 90 days after receipt of a claim, furnish to claimant a written notice setting forth, in a manner calculated to be understood by claimant: (1) the specific reason or reasons
for the denial; (2) specific reference to pertinent Plan provisions on which the denial is based; (3) a description of any additional materials or information necessary for the claimant to perfect the claim and an explanation of why such
material or information is necessary; (4) an explanation of the steps to be taken if the claimant wishes to have the denial reviewed; and (5) a statement of the claimant’s right to bring a civil action under section 502(a) of ERISA
following an adverse determination on review. The 90 day period may be extended for not more than an additional 90 days if special circumstances make such an extension necessary. The Claims Administrator shall give the claimant, before the end of
the initial 90 day period, a written notice of such extension, stating such special circumstances and the date by which the Claims Administrator expects to render a decision. 

 

	 	(b)	By a written application filed with the Claims Administrator within 60 days after receipt by claimant of the written notice described in paragraph (a), the claimant or his duly authorized representative may request
review of the denial of his claim. 

  

	 	(c)	 In connection with such review, the claimant or his duly authorized representative may submit issues, comments, documents, records and other
information relating to the claim for benefits to the Claims Administrator. In addition, the claimant will be provided, upon request and free of charge, reasonable access to and copies of all documents, records, or other information
“relevant” to claimant’s claim for benefits. A document, record, or other information is “relevant” if it: (1) was relied upon in making the benefit determination; (2) was submitted, considered or generated in the
course of making the 

  
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benefit determination, without regard to whether such document, record or information was relied upon in making the benefit determination; or (3) demonstrates compliance with administrative
processes and safeguards required under federal law. 

  

	 	(d)	The Plan will provide an impartial review that takes into account all comments, records and other information submitted by the claimant relating to the claim, without regard to whether such information was submitted or
considered in the initial benefit determination. The Claims Administrator shall make a decision and furnish such decision in writing to the claimant within 60 days after receipt by the Claims Administrator of the request for review. This period
may be extended to not more than 120 days after such receipt if special circumstances make such an extension necessary. The claimant will be notified in writing prior to the expiration of the original 60 day period if such an extension is required,
and such notice will include the reason for the extension and the date by which it is expected that a decision will be reached. The decision on review shall be in writing, set forth in a manner calculated to be understood by the claimant and shall
include: (1) the specific reasons for the decision; (2) specific reference to the pertinent Plan provisions on which the decision is based; (3) a statement that the claimant is entitled to receive, upon request and free of charge,
reasonable access to and copies of all documents, records, and other information “relevant” to the claimant’s claim for benefits; (4) a description of any additional material or information necessary for the claimant to perfect
the claim and an explanation of why such material or information is necessary; (5) a statement describing any voluntary appeal procedures and the claimant’s right to obtain information about such procedures, if any; and (6) a
statement of the claimant’s right to bring a civil action under section 502(a) of ERISA following an adverse benefit determination on review. 

  

	 	(e)	If in the event that the reviewing committee must make a determination of disability in order to decide a claim, the reviewing committee shall follow the special claims procedures for disability benefits described in
Department of Labor Regulation section 2560.503-1(d). The reviewing committee shall render a decision within a reasonable time (not to exceed 90 days) after the claimant’s request for review, rather than within 120 days as set forth in the
above paragraph. 

  

	 	(f)	The Claims Administrator shall be the Lockheed Martin Corporation Pension Plans Administrative Committee. Notwithstanding the foregoing, with respect to claims and appeals brought by elected officers of the Company, the
Claims Administrator shall be the Committee 

 ARTICLE IX 

GENERAL AND MISCELLANEOUS PROVISIONS 

1. This Plan shall not in any way obligate the Company to continue the employment of a Participant with the Company, nor does
this Plan limit the right of the Company at any time and for any reason to terminate the Participant’s employment. In no event shall this Plan constitute an employment contract of any nature whatsoever between the Company and a Participant. In
no event shall this Plan by its terms or implications in any way limit the right of the Company to change an Eligible Employee’s compensation or other benefits. 

2. Any benefits accrued under this Plan shall not be treated as compensation for purposes of calculating the amount of a
Participant’s benefits or contributions under any pension, retirement, or other plan maintained by the Company, except as provided in such other plan. 
  

  
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 3. Any written notice to the Company referred to herein shall be made by mailing
or delivering such notice to the Company at 6801 Rockledge Drive, Bethesda, Maryland 20817, to the attention of Pension Plan Operations. Any written notice to a Participant shall be made by delivery to the Participant in person, through electronic
transmission, or by mailing such notice to the Participant at his or her place of residence or business address. 
 4. In
the event it should become impossible for the Company or the Committee to perform any act required by this Plan, the Company or the Committee may perform such other act as it in good faith determines will most nearly carry out the intent and the
purpose of this Plan. 
 5. Each Eligible Employee shall be deemed conclusively to have accepted and consented to all the
terms of this Plan and all actions or decisions made by the Company, the Board, or Committee with regard to the Plan. 
 6.
The provisions of this Plan shall be binding upon and inure to the benefit of the Company, its successors, and its assigns, and to the Participants and their heirs, executors, administrators, and legal representatives. 

7. The validity of this Plan or any of its provisions shall be construed, administered, and governed in all respects under and
by the laws of the State of Maryland, except as to matters of Federal law. If any provisions of this instrument shall be held by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof shall continue to be
fully effective. 
 8. This Plan and its operation, including the payment of cash hereunder, is subject to compliance with
all applicable Federal and state laws, rules and regulations and such other approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. 

ARTICLE X 
 EFFECTIVE
DATE 
 This Plan, including any amendment and restatement of the prior plans, is generally effective July 1, 2014
or such other date set forth herein for a specific provision. 
 ANNEX A TO APPENDIX B 

Additional Benefits under 

Lockheed Martin Corporation Termination Benefits Agreements 

1. Introduction. The benefits described in this Annex previously were provided as part of the Supplemental Retirement
Benefit Plan of Lockheed Martin Corporation. That Plan was formerly known as the Supplemental Benefit Plan of Lockheed Corporation. 

2. Purpose. This Annex provides a supplemental benefit to those employees who entered into certain Termination Benefits
Agreements with Lockheed Corporation (now Lockheed Martin Corporation). 
 3. Eligibility. An Eligible Employee who
entered into a Termination Benefits Agreement with Lockheed Corporation (now Lockheed Martin Corporation) prior to August 29, 1994, shall receive benefits pursuant to this Annex. 

 

  
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 4. Amount of Benefit. The benefit that each Eligible Employee shall be
entitled to receive is any additional benefit to which the Eligible Employee becomes entitled with respect to the Lockheed Martin Corporation Retirement Plan for Certain Salaried Employees pursuant to Section 6(a) of his or her Termination
Benefits Agreement on account of the merger of Lockheed Corporation contemplated by the Agreement and Plan of Reorganization, dated as of August 29, 1994, by and among Lockheed Martin Corporation, Martin Marietta Corporation, and Lockheed
Corporation. 
 5. Plan Freeze. Notwithstanding anything herein to the contrary, base rate of pay, bonuses or other
incentive compensation, or other amounts earned for or relating to the period after December 31, 2015 shall not be used in determining benefits under the Plan, and service after December 31, 2019 shall not be considered, deemed to be, or
otherwise treated as Credited Service or similar benefit accrual service in determining benefits payable under the Plan. 
 ANNEX B TO
APPENDIX B 
 Additional Benefits Previously Provided under the 

Lockheed Martin Corporation Supplemental Excess Retirement Plan 

1. Introduction. The benefits described in this Annex previously were provided as part of the Lockheed Martin
Corporation Supplemental Excess Retirement Plan. That Plan was formerly known as the Martin Marietta Corporation Supplemental Excess Retirement Plan, and included provisions previously contained in the Lockheed Martin Supplemental Retirement Income
Plan. 
 2. Purpose. This Annex provides a supplemental benefit to salaried employees who were considered highly
compensated employees as of December 31, 1990 and who were also participants in the Martin Marietta Corporation Retirement Income Plan as of September 30, 1975, whose benefits are limited by Code section 401(a)(4). 

3. Eligibility. This Annex provides benefits to salaried employees who were considered highly compensated employees as
of December 31, 1990 (as determined under the Martin Marietta Corporation Retirement Income Plan as in effect on that date) and who were also covered employees in the Martin Marietta Corporation Retirement Income Plan as of September 30,
1975 or were participants for 12 consecutive months prior to September 30, 1975 who receive a pension benefit calculated under the Pre-ERISA formula in the Martin Marietta Corporation Retirement Income Plan. 

4. Amount of Benefit. Participants shall receive a retirement benefit from this Plan equal to the excess, if any, of
(1) the pension benefit calculated based on the formula described in Article V(1)(b) or Article IX(2)(b) of the January 1, 1995 Martin Marietta Corporation Retirement Income Plan without regard to the limitation described in Article
V(1)(c), Article IX(2)(c) or Code section 415 or Code section 401(a)(17), reduced by the greater of the pension benefits described in Article V(1)(b) or Article IX(2)(b) of the January 1, 1995 Retirement Income Plan. To prevent duplication of
benefits, the benefit payable under this Annex shall be coordinated with any benefit payable under Article III of the Plan, as set forth in Article III. 

In no event shall the computation of benefits under this Annex take into account any service performed by a Participant after
separation from employment with the Company or its subsidiaries. 
 5. Plan Freeze. Notwithstanding anything herein to the
contrary, base rate of pay, bonuses or other incentive compensation, or other amounts earned for or relating to the period after December 31, 2015 shall not be used in determining benefits under the Plan, and service after December 31,
2019 shall not be considered, deemed to be, or otherwise treated as Credited Service or similar benefit accrual service in determining benefits payable under the Plan. 

  
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 APPENDIX A TO APPENDIX B 

Qualified Pension Plans 
  

	1.	 Lockheed Martin Corporation Retirement Plan for Certain Salaried Employees 

 

	2.	 Lockheed Martin Corporation Retirement Income Plan 

  

	3.	 Lockheed Martin Account Balance Retirement Plan 

  

	4.	 Lockheed Martin Corporation Retirement Income Plan III 

  

	5.	 Lockheed Martin Pension Plan for Former Salaried and Hourly Employees of Inactive Commercial Divisions 

 

	6.	 KAPL Inc. Pension Plan for Salaried Employees 

  
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