Document:

Exhibit 10.6

 Exhibit 10.6 
 LOCKHEED MARTIN SUPPLEMENTARY PENSION PLAN 
 FOR TRANSFERRED EMPLOYEES OF GE OPERATIONS 
 (Effective June 26, 2008) 
 ARTICLE I 
 PURPOSES OF THE PLAN 
 The purposes of the Lockheed Martin
Supplementary Pension Plan for Transferred Employees of GE Operations (the “Plan”) is to provide Transferred Employees with a supplemental pension benefit that, in combination with the Martin Marietta Corporation Retirement Income Plan II
(now the Lockheed Martin Corporation Retirement Income Plan) or KAPL Inc. Pension Plan for Salaried Employees and anticipated social security benefits, delivers a total retirement income equal to a maximum of 60 percent of the employee’s
average compensation over the final three years. 
 The Plan was amended and restated effective January 1, 2005, in order to comply with the
requirements of Code section 409A. The amendment and restatement applied only to the portion of a Participant’s benefit that is earned or becomes vested on or after January 1, 2005. The portion of a Participant’s benefit that was
earned and vested prior to January 1, 2005 shall be governed by Appendix A. The Plan is hereby amended and restated, generally 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. 
 ARTICLE II 

DEFINITIONS 
 Unless the context indicates otherwise,
the following words and phrases when used in this Plan shall have the meanings hereinafter indicated: 
 1. 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, or if no designated beneficiary survives the Participant, the Participant’s estate shall
be the beneficiary. 
 2. BOARD — The Board of Directors of Lockheed Martin Corporation. 
 3. CODE — The Internal Revenue Code of 1986, as amended. 

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 4. COMMITTEE — The committee described in Section 1 of Article VII. 
 5. COMPANY — Lockheed Martin Corporation and its subsidiaries. 
 6. ELIGIBLE EMPLOYEE — An employee of the Company who transferred employment to Martin Marietta Corporation as a result of the agreement between Martin Marietta Corporation and General Electric Company dated November 22, 1992 or
who transferred employment under the Lakeland Transfer Agreement and who meets the eligibility criteria in Section 1 of Article III, and who satisfies such additional requirements for participation in this Plan as the Committee may from time to
time establish. The Pension Plans Administration 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. 
 7. GRANDFATHERED 2004 BENEFIT — The
benefit calculated under the terms of the Plan in effect prior to January 1, 2005 (attached as Appendix A), determined as if the Participant had terminated from employment on December 31, 2004 (or the Participant’s actual termination
date, if earlier). 
 8. PARTICIPANT — An Eligible Employee who meets the requirements for participation contained in Article III; the term shall
include a former employee and survivors/beneficiaries whose benefit has not been fully distributed. 
 9. PLAN — The Lockheed Martin Supplementary
Pension Plan for Transferred Employees of GE Operations, or any successor plan. 
 10. QUALIFIED PENSION PLAN — The Lockheed Martin Corporation
Retirement Income Plan (“Retirement Income Plan”) or KAPL Inc. Pension Plan for Salaried Employees (“KAPL Inc. Plan”). All terms used in this Plan which are defined in the Retirement Income Plan or KAPL Inc. Plan have the same
meanings, unless otherwise expressly provided in this Plan. 
 11. 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. 
 12. YEAR — The calendar year. 
  

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 ARTICLE III 
 SUPPLEMENTARY PENSION BENEFIT 
 1. Eligibility. Each Employee who was classified as an Executive Career Band (“EB”)
employee on or prior to December 31, 1993, who has five or more years of Vesting Service and who is a participant in the Qualified Pension Plan shall be eligible to receive benefits under this Article III. However, except as provided in
Section 2.D., an Employee who retires under the Qualified Pension Plan before the first day of the month following attainment of age 55 or an Employee who leaves the Service of the Company before attainment of age 55, shall not be eligible for
a benefit under this Article III. 
 An Employee who meets the other requirements specified in this Section shall be eligible for benefits under this
Article III so long as his assigned position level or position of equivalent responsibility throughout any consecutive three years of the 15 year period ending on the last day of the month preceding his termination of service is at least at the
level of a director (or other position equivalent to General Electric Company’s EB) even though he is not employed at that level on the date his Service terminates. 
 2. Amount of Benefit. 
  

	 	A.	Definitions. For purposes of this Section 2, the following terms have the following meanings: 

 Annual Estimated Social Security Benefit. The annual equivalent of the maximum possible Primary Insurance Amount payable, after reduction for early
retirement, as an old-age benefit to an employee who retired at age 62 on January 1 of the calendar year in which occurred the Employee’s actual date of retirement or death, whichever is earlier. The Company shall determine the Annual
Estimated Social Security Benefit in accordance with the Social Security Act in effect at the end of the calendar year preceding such January 1. 
 If an Employee has less than 35 years of Credited Service, the Annual Estimated Social Security Benefit determined under the above paragraph is multiplied by a factor, the numerator of which is the number of years of the Employees’
Credited Service to his or her date of retirement or death, whichever is earlier, and the denominator of which is 35. 
 The Annual Estimated Social
Security Benefit shall be adjusted to include any social security, severance, or similar benefit provided under foreign law or regulations as the Committee may prescribe by rules and regulations. 
 Annual Pension Payable under the Qualified Pension Plan. The sum of: 
  

	 	(1)	 (i) the annual normal, early or late retirement benefit under Article V of the Qualified Pension Plan, including the Personal Pension Account (excluding the 

  

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regular supplement under Article V(4) of the Qualified Pension Plan), or (ii) the normal, optional or disability retirement benefit under the RIP II or KAPL Annex
of the Qualified Pension Plan, less 

  

	 	(2)	to the extent the Committee so determines, the benefit payable under any other pension plan contract, or policy of the Plan Sponsor (whether qualified or non-qualified), or government program
attributable to periods of service for which Credited Service is granted by the Committee for the determination of the benefit under this Plan or is credited by the Qualified Pension. All such amounts shall be determined before applying any
reduction factors for Early, Optional or Disability Retirement, for election of any optional form of Pension at retirement, a qualified domestic relations order(s), if any, or in connection with any other adjustment or supplement made pursuant to
the Qualified Pension Plan or any other pension plan. 

 For purposes of this paragraph, the Employee’s Pension shall include the Personal Pension
Account Annuity payable to the Employee or the Employee’s spouse on the date of the Employee’s retirement or death, regardless of whether such annuity commenced on such date. 
 Annual Retirement Income. For Employees who retire or die in active Service on or after April 5, 1993, the amount determined by multiplying 1.75% of
Average Annual Compensation by the number of years of Credited Service completed at the date of retirement or death, whichever is earlier. 
 Average Annual Compensation. One-third of the Employee’s Compensation for the highest consecutive three years during the last 10 years immediately preceding his date of retirement or death, whichever is earlier. In computing
Average Annual Compensation, normal straight-time earnings shall be substituted for actual Compensation for any month in which such normal straight-time earnings are greater. 
 Compensation. Salary (including any deferred salary approved by the Committee as compensation for purposes of this Plan) plus: 
  

	 	(1)	For persons then eligible for Incentive Compensation, the total amount of any Management Incentive Compensation Plan earnings, unless such Incentive Compensation is excluded by the Board or a
committee thereof. 

  

	 	(2)	For persons who would then have been eligible for Incentive Compensation if they had not been participants in a Sales Commission Plan or other variable compensation plan, the total amount of
sales commissions (or other variable compensation earned unless such compensation is excluded by the Board or a committee thereof); 

  

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	 	(3)	For all other persons, the sales commissions and other variable compensation earned to the extent such earnings were then included under the Qualified Pension Plan, plus any amounts (other
than salary and those mentioned in clauses (1) through (3) above) which were then included as compensation under the Qualified Pension Plan except any amounts which the Committee may exclude from the computation of “Compensation”
and subject to the powers of the Committee with respect to payment of benefits. 

 The Committee shall specify the basis for determining an
Employee’s Compensation for any portion of the three years used to compute the Employee’s Average Annual Compensation during which the Employee was not employed by an employer participating in this Plan. 
 Credited Service. Credited Service has the same meaning as in the Qualified Pension Plan. For periods before January 1, 1976, Credited Service as a
full-time Employee also includes all Service credited under the Qualified Pension Plan for any period during which the employee was a full-time Employee for purposes of the Qualified Pension Plan. Credited Service also includes: 
  

	 	(1)	Any period of Service with the Company or an Affiliate as the Committee may otherwise provide by rules and regulations issued with respect to this Plan; and 

  

	 	(2)	Any period of service with another employer as the Board may approve, if any conditions specified in such approval have been met. 

  

	B.	Normal Retirement Benefit. Subject to the limitations in Section G and Section 1 of Article VII, the benefit payable to an eligible Employee who retires on or after his or her
normal retirement date under the Plan, shall be the excess, if any, of the employee’s Annual Retirement Income, over the sum of 

  

	 	(1)	The Employee’s Annual Pension Payable under the Qualified Pension Plan (including the Personal Pension Account Annuity and excluding any supplements payable under the Qualified Pension
Plan) (calculated as a five-year certain annuity), 

  

	 	 (2)
	  1/2 of the
Employee’s Annual Estimated Social Security Benefit, 

  

	 	(3)	the benefit payable from the Lockheed Martin Corporation Supplemental Retirement Plan. 

 C.
Early, Optional or Disability Retirement. Subject to the limitations in Section G and Section 1 of Article VII, the benefit payable to an eligible Employee who, after reaching age 60, retires on an optional retirement date under the
Qualified Pension Plan shall be computed in the manner provided by Section B (for an employee retiring on his or her normal retirement date) but taking into account only Credited Service and Average Annual Compensation to the actual date of optional
retirement. The annual benefit payable to an eligible Employee who, after reaching 

  

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age 55 (but before reaching age 60), retires under the early retirement provisions of the Qualified Pension Plan shall equal the amount in section B but taking into
account only Credited Service and Average Annual Compensation to the Employee’s actual termination of employment and reduced for early retirement using the early retirement reduction factor under Article V(2) of the Qualified Pension Plan.

 Subject to the requirements of Section 1 of Article VII, the annual benefit payable to an eligible Employee who has satisfied the eligibility
requirements to receive a Disability Pension under the RIP II or KAPL Annex of the Qualified Pension Plan (to the extent consistent with the requirements of Code section 409A(a)(2(C)) shall be computed in the manner provided by Section B (for an
Employee retiring on his normal retirement date) taking into account only Credited Service and Average Annual Compensation to the actual date of disability retirement and not reduced for the Disability Supplement in the RIP II or KAPL Annex of the
Qualified Pension Plan. In the case of an eligible Employee whose date of retirement precedes the first day of the month after reaching age 60 the Plan benefit shall then be reduced by 12%. 
 Subject to provisions of Section 1 of Article VII, if the Disability Pension payable to the Employee under the Qualified Pension Plan is discontinued as a
result of the Employee’s disability ceasing before the Employee reaches age 60, the benefit provided under this Section C. shall also be discontinued. 
 D.
Special Benefit Protection for Certain Employees. Subject to the provisions of Section 1 of Article VII, a former Employee whose Service with the Company is terminated on or after December 31, 1994 and after completing 25 or more
years of Vesting Service, who does not withdraw his required or voluntary contributions from the Qualified Pension Plan before retirement, shall be eligible for a benefit under this Plan commencing upon the later of termination of employment with
the Company and the attainment of age 60 if: 
  

	 	(1)	the Employee’s Service is terminated for transfer to a successor employer and 

  

	 	(2)	the Employee does not retire under the Qualified Pension Plan until the later of (1) termination of service with the successor employer and (2) the first of the month after reaching
age 60. 

 In determining the benefit under this Plan, the Average Annual Compensation shall be based on the last 120 completed months
with the successor employer before the Employee’s Service termination date and the Annual Estimated Social Security Benefit shall be determined as though the Employee’s retirement date was the date of termination. 
 E. Survivor Benefits. Subject Section 1 of Article VII, if a survivor benefit applies with respect to the past and future service annuity portion of an Employee’s
Annual Pension payable under the Qualified Pension Plan, such survivor benefit shall automatically apply to any benefit which he or she may be eligible under this Plan. The Employee’s benefit shall be adjusted and 

  

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paid in the same manner as such pension payable under the Qualified Pension Plan is adjusted and paid on account of such survivor benefit. Payments to the survivor
shall commence as soon as administratively practicable following the later of: (1) the Employee’s 55th birthday, or (2) the Employee’s date of
death. 
  

	F.	Payments Upon Death. 

 Subject to the provisions of Section 1 of
Article VII, if an eligible Employee dies in active Service, or following retirement with a benefit from this Plan, and a death benefit (other than a return of Employee contributions with interest including an Employee’s Personal and Voluntary
Pension Account) is payable to the beneficiary or Surviving Spouse of such Employee under the Qualified Pension Plan, a death benefit shall also be payable to the beneficiary or Surviving Spouse under this Plan as follows: 
  

	 	 (1)
	 Any such death benefit payable to a surviving spouse under this Plan shall equal 50% of the Employee’s Annual Retirement
Income under this Plan reduced by (1) 100% of the Employee’s preretirement surviving spouse benefit payable or other lump sum benefit under the Qualified Pension Plan, (2) 25% of the Employee’s Annual Estimated Social Security
Benefit, (3) the Employee’s Personal Pension Account benefit, and (4) the benefit payable under the Lockheed Martin Corporation Supplemental Retirement Plan. Payments to the surviving spouse shall commence as soon as administratively
practicable after the later of: (1) the Employee’s 55th birthday, or (2) the Employee’s date of death. 

  

	 	(2)	Any such death benefit payable to a surviving spouse under this Plan shall take into account only Credited Service and Average Annual Compensation to the earlier of the Employee’s death
or termination of employment and will be reduced for early retirement using the early retirement reduction factors under Article V(2) of the Qualified Pension Plan. 

  

	 	 (3)
	 Subject to the provisions of Section 1 of Article VII, any such benefit payable to a surviving spouse shall be paid as soon
as administratively practicable after the later of: (1) the Employee’s 55th birthday, or (2) the Employee’s date of death and will be paid in
accordance with the payment provisions of the RIP or KAPL Annex of the Qualified Pension Plan. If benefits from the Qualified Pension Plan are paid under the payment provisions of the RIP or KAPL Annex of the Qualified Pension Plan, then benefits
from this Plan will be paid in the same payment form. 

  

	G.	Limitations on Benefits. 

 (a) Notwithstanding any
provision of this Plan to the contrary, if the sum of: 
  

	 	(1)	The annual benefit (calculated before applying any reductions for early retirement or additions for any supplements payable under the Qualified Pension Plan, and prior to any calculation for
disability retirement reductions) otherwise payable to an Employee under this Plan; 

  

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	 	(2)	The Employee’s Annual Pension Payable under the Qualified Pension Plan (including the Personal Pension Account Annuity) (calculated as a five-year certain annuity);

  

	 	(3)	100% of the Annual Estimated Social Security Benefit before any adjustment for less than 35 years of Pension Benefit Service; 

  

	 	(4)	the Employee’s annual benefit under the Lockheed Martin Corporation Supplemental Retirement Plan; and 

 to the extent the Committee so determines, the benefit payable under any other pension plan contract, or policy of the Plan Sponsor (whether qualified or
non-qualified), or government program attributable to periods of service for which Credited Service is granted by the Committee for the determination of the benefit under this Plan or is credited by the Qualified Pension exceeds 60% of his or her
Annual Average Compensation, the benefit payable under this Plan shall be reduced by the amount of the excess. 
 (b) Notwithstanding
any provision in this Plan to the contrary, the amount of the benefit payable and any death benefit payable to or on behalf of any Employee who is or was an Officer of the Company on the date of his termination of employment or death, whichever is
earlier, shall be determined according to such general rules and regulations as a Committee appointed by the Board of Directors may adopt, subject to the limitation that any such benefit or death benefit may not exceed the amount which would be
payable under this Plan in the absence of such rules and regulations. 
 H. Adjustments Following Retirement. If the Pension payable under the Qualified Pension
Plan to any Employee is increased following the Employee’s retirement as a result of a general increase in the Pensions payable to retired employees under that plan, no such increase will be made under this Plan. 
 I. Non-duplication of Benefits. Benefits under this Article III are intended to supplement the Participant’s actual benefit under the Qualified Pension Plan as
necessary to provide the Participant with the full benefit the Participant would have received under the Qualified Pension Plan with the special adjustments described above. To prevent duplication of benefits, the full benefit under the Qualified
Pension Plan and the enhanced benefit described above shall be calculated without reduction for Code section 415 and Code section 401(a)(17), then reduced by the benefit payable from the Qualified Pension Plan and further reduced by the benefit
payable from the Lockheed Martin Corporation Supplemental Retirement Plan, then reduced by the Grandfathered 2004 Benefit. 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. 
  

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 ARTICLE IV 
 PAYMENT OF BENEFITS 
 1. Vesting. Except as provided in Article V, and subject to the Company’s right to discontinue the
Plan as provided in Article VI, a Participant shall have a non-forfeitable interest in benefits payable under this Plan to the same extent as benefits are vested under the applicable Qualified Pension Plan. As provided in Article V, 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. A Participant may elect to receive benefits in any annuity form that is available under a 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, provided (i) the election is filed with the Company in writing no later than the later of (a) December 16, 2005 and (b) the date that is 30 days after the
Participant commences participation in the Plan, and (ii) the Participant’s employment has not terminated prior to filing the election. If the Participant has not validly elected a form of payment, (i) an 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. No lump sum payment form is available under this Plan. Actuarial adjustments
shall be based on the factors set forth in the Qualified Pension Plan. All elections under this Section 2 must be made in the form and manner prescribed by the Company. Benefits paid in a form described in this Section 2 shall commence as
soon as administratively practicable following the later of (i) the month in which the Participant terminates employment, or (ii) the month in which the Participant attains age 55. Notwithstanding the foregoing, benefits paid on account of
the termination of employment of a Participant who is reasonably determined by the Company to be a “specified employee” within the meaning of Code section 409A(a)(2)(B)(i), shall not commence before six (6) months following the month
in which the Participant terminates employment. No interest shall be paid between the date of termination of employment and the payment date. 
 Subject to the provisions of Section 1 of Article VII, if an Employee’s pension benefit under the Qualified Pension Plan is suspended for any month in accordance with the re-employment provisions thereof, the Employee’s
benefit under this Plan for that month shall likewise be suspended. 
 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 

  

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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 prior to January 1, 2008 upon the applicable mortality table and applicable interest rate in Code section 417(e)(3)(ii), or (ii) 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. to a Participant who is reasonably determined by the Company to be a “specified
employee” within the meaning of Code section 409A(a)(2)(B)(i), shall not commence before six (6) months following the later of (i) the month in which the Participant terminates 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. 
 Prospective 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. All prospective elections must be made in the form and manner prescribed by the Company. This provision does not apply to Surviving Spouses or Beneficiaries. Subject to the provisions of Section 1 of Article VII, 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. 
 Form of Payment. A Participant may elect to delay the commencement of payments or to receive payment in any other annuity form designated by the Senior Vice
President, Human Resources, of the Company, provided that such election is made in writing 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. 
 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 and with respect to prospective changes of payment under this Section 2 of Article IV. 
 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. 
  

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 3. Deductibility of Payments. Subject to the provisions of Section 1 of Article VII, 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, subject to the provisions of Section 1 of Article VII, 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 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 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 

  

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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. 

 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 an event qualifying for a distribution of deferred compensation under Section 409A(a)(2)(A)(v) of the Code. 
 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 

  

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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. 
 ARTICLE V 
 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 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.

  

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 ARTICLE VI 
 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. Subject to the provisions of Section 1 of Article VII, 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 VII 
 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 

  

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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 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 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 Committee or 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: 
  

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	 	(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. 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. 

  

	 	(e)	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 

  

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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, Human Resource Services. 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. A copy of this Plan shall be available for inspection by Participants or other
persons entitled to benefits under the Plan at reasonable times at the offices of the Company. 
 8. 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. 
 9. 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. 
  

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 ARTICLE X 
 EFFECTIVE DATE 
 This restated Plan, including any amendment and restatement of the prior plans, is generally effective June 26,
2008. 
 APPENDIX A 
 LOCKHEED MARTIN
SUPPLEMENTARY PENSION PLAN 
 FOR TRANSFERRED EMPLOYEES OF GE OPERATIONS 
 (Effective July 1, 2004) 
 ARTICLE I 
 PURPOSES OF THE PLAN 
 The purposes of the Lockheed Martin Supplementary Pension Plan for
Transferred Employees of GE Operations (the “Plan”) is to provide Transferred Employees with a supplemental pension benefit that, in combination with the Martin Marietta Corporation Retirement Income Plan II (now the Lockheed Martin
Corporation Retirement Income Plan II) or KAPL Inc. Pension Plan for Salaried Employees and anticipated social security benefits, delivers a total retirement income equal to a maximum of 60 percent of the employee’s average compensation over
the final three years. 
 The Lockheed Martin Supplementary Pension Plan for Transferred Employees of GE Operations (formerly known as the Martin
Marietta Supplementary Pension Plan for Employees of Transferred GE Operations) and predecessor plan is amended, restated , effective July 1, 2004 
 The Plan was subsequently amended and restated effective January 1, 2005 in order to comply with the requirements of Code section 409A. The amendment and restatement applies only to the portion of a Participant’s benefit that is
earned or becomes vested on or after January 1, 2005. The portion of a Participant’s benefit that was earned and vested prior to January 1, 2005 shall be governed by this Appendix A. 
 ARTICLE II 
 DEFINITIONS 
 Unless the context indicates otherwise, the following words and phrases when used in this Plan shall have the meanings hereinafter indicated: 
  

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 1. 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, or if no designated beneficiary survives the Participant, the Participant’s estate shall be the beneficiary. 
 2. BOARD — The Board of Directors of Lockheed Martin Corporation. 
 3. CODE — The Internal Revenue Code of 1986, as amended. 
 4. COMMITTEE — The committee described in Section 1 of Article VII.

 5. COMPANY — Lockheed Martin Corporation and its subsidiaries. 
 6. ELIGIBLE EMPLOYEE — An employee of the Company who transferred employment to Martin Marietta Corporation as a result of the agreement between Martin Marietta Corporation and General Electric Company dated
November 22, 1992 or who transferred employment under the Lakeland Transfer Agreement and who meets the eligibility criteria in Section 1 of Article III, and who satisfies such additional requirements for participation in this Plan as the
Committee may from time to time establish. The Pension Plans Administration 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. 
 7.
PARTICIPANT — An Eligible Employee who meets the requirements for participation contained in Article III; the term shall include a former employee and survivors/beneficiaries whose benefit has not been fully distributed. 
 8. PLAN — The Lockheed Martin Supplementary Pension Plan for Transferred Employees of GE Operations, or any successor plan. 
 9. QUALIFIED PENSION PLAN — The Lockheed Martin Corporation Retirement Income Plan (“Retirement Income Plan II”) or KAPL Inc. Pension Plan for
Salaried Employees (“KAPL Inc. Plan”). All terms used in this Plan which are defined in the Retirement Income Plan II or KAPL Inc. Plan have the same meanings, unless otherwise expressly provided in this Plan. 
 10. YEAR — The calendar year. 
  

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 ARTICLE III 
 SUPPLEMENTARY PENSION BENEFIT 
 1. Eligibility. Each Employee who was classified as an Executive Career Band (“EB”)
employee on or prior to December 31, 1993, who has five or more years of Vesting Service and who is a participant in the Qualified Pension Plan shall be eligible to receive benefits under this Article III. However, except as provided in
Section 2.D., an Employee who retires under the Qualified Pension Plan before the first day of the month following attainment of age 55 or an Employee who leaves the Service of the Company before attainment of age 55, shall not be eligible for
a benefit under this Article III. 
 An Employee who meets the other requirements specified in this Section shall be eligible for benefits under this
Article III so long as his assigned position level or position of equivalent responsibility throughout any consecutive three years of the 15 year period ending on the last day of the month preceding his termination of service is at least at the
level of a director (or other position equivalent to General Electric Company’s EB) even though he is not employed at that level on the date his Service terminates. 
 2. Amount of Benefit. 
  

	 	C.	Definitions. For purposes of this Section 2, the following terms have the following meanings: 

 Annual Estimated Social Security Benefit. The annual equivalent of the maximum possible Primary Insurance Amount payable, after reduction for early
retirement, as an old-age benefit to an employee who retired at age 62 on January 1 of the calendar year in which occurred the Employee’s actual date of retirement or death, whichever is earlier. The Company shall determine the Annual
Estimated Social Security Benefit in accordance with the Social Security Act in effect at the end of the calendar year preceding such January 1. 
 If an Employee has less than 35 years of Credited Service, the Annual Estimated Social Security Benefit determined under the above paragraph is multiplied by a factor, the numerator of which is the number of years of the Employees’
Credited Service to his or her date of retirement or death, whichever is earlier, and the denominator of which is 35. 
 The Annual Estimated Social
Security Benefit shall be adjusted to include any social security, severance, or similar benefit provided under foreign law or regulations as the Committee may prescribe by rules and regulations. 
 Annual Pension Payable under the Qualified Pension Plan. The sum of: 
  

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	 	(3)	(i) the annual normal, early or late retirement benefit under Article V of the Qualified Pension Plan, including the Personal Pension Account (excluding the regular supplement under Article
V(4) of the Qualified Pension Plan), or (ii) the normal, optional or disability retirement benefit under the RIP II or KAPL Annex of the Qualified Pension Plan, less 

  

	 	(4)	to the extent the Committee so determines, the benefit payable under any other pension plan contract, or policy of the Plan Sponsor (whether qualified or non-qualified), or government program
attributable to periods of service for which Credited Service is granted by the Committee for the determination of the benefit under this Plan or is credited by the Qualified Pension. All such amounts shall be determined before applying any
reduction factors for Early, Optional or Disability Retirement, for election of any optional form of Pension at retirement, a qualified domestic relations order(s), if any, or in connection with any other adjustment or supplement made pursuant to
the Qualified Pension Plan or any other pension plan. 

 For purposes of this paragraph, the Employee’s Pension shall include the Personal Pension
Account Annuity payable to the Employee or the Employee’s spouse on the date of the Employee’s retirement or death, regardless of whether such annuity commenced on such date. 
 Annual Retirement Income. For Employees who retire or die in active Service on or after April 5, 1993, the amount determined by multiplying 1.75% of
Average Annual Compensation by the number of years of Credited Service completed at the date of retirement or death, whichever is earlier. 
 Average Annual Compensation. One-third of the Employee’s Compensation for the highest consecutive three years during the last 10 years immediately preceding his date of retirement or death, whichever is earlier. In computing
Average Annual Compensation, normal straight-time earnings shall be substituted for actual Compensation for any month in which such normal straight-time earnings are greater. 
 Compensation. Salary (including any deferred salary approved by the Committee as compensation for purposes of this Plan) plus: 
  

	 	(4)	For persons then eligible for Incentive Compensation, the total amount of any Management Incentive Compensation Plan earnings, unless such Incentive Compensation is excluded by the Board or a
committee thereof. 

  

	 	(5)	For persons who would then have been eligible for Incentive Compensation if they had not been participants in a Sales Commission Plan or other variable compensation plan, the total amount of
sales commissions (or other variable compensation earned unless such compensation is excluded by the Board or a committee thereof); 

  

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	 	(6)	For all other persons, the sales commissions and other variable compensation earned to the extent such earnings were then included under the Qualified Pension Plan, plus any amounts (other
than salary and those mentioned in clauses (1) through (3) above) which were then included as compensation under the Qualified Pension Plan except any amounts which the Committee may exclude from the computation of “Compensation”
and subject to the powers of the Committee with respect to payment of benefits. 

 The Committee shall specify the basis for determining an
Employee’s Compensation for any portion of the three years used to compute the Employee’s Average Annual Compensation during which the Employee was not employed by an employer participating in this Plan. 
 Credited Service. Credited Service has the same meaning as in the Qualified Pension Plan. For periods before January 1, 1976, Credited Service as a
full-time Employee also includes all Service credited under the Qualified Pension Plan for any period during which the employee was a full-time Employee for purposes of the Qualified Pension Plan. Credited Service also includes: 
  

	 	(3)	Any period of Service with the Company or an Affiliate as the Committee may otherwise provide by rules and regulations issued with respect to this Plan; and 

  

	 	(4)	Any period of service with another employer as the Board may approve, if any conditions specified in such approval have been met. 

  

	D.	Normal Retirement Benefit. Subject to the limitations in Section G, the benefit payable to an eligible Employee who retires on or after his or her normal retirement date under the
Plan, shall be the excess, if any, of the employee’s Annual Retirement Income, over the sum of 

  

	 	(4)	The Employee’s Annual Pension Payable under the Qualified Pension Plan (including the Personal Pension Account Annuity and excluding any supplements payable under the Qualified Pension
Plan) (calculated as a five-year certain annuity), 

  

	 	 (5)
	  1/2 of the
Employee’s Annual Estimated Social Security Benefit, 

  

	 	(6)	the benefit payable from the Lockheed Martin Corporation Supplemental Retirement Plan 

  

	E.	 Early, Optional or Disability Retirement. Subject to the limitations in Section G, the benefit payable to an eligible Employee who, after reaching age 60, retires on
an optional retirement date under the Qualified Pension Plan shall be computed in the manner 

  

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provided by Section B (for an employee retiring on his or her normal retirement date) but taking into account only Credited Service and Average Annual Compensation to
the actual date of optional retirement. The annual benefit payable to an eligible Employee who, after reaching age 55 (but before reaching age 60) retires under the early retirement provisions of the Qualified Pension Plan shall equal the amount in
section B but taking into account only Credited Service and Average Annual Compensation to the Employee’s actual termination of employment and reduced for early retirement using the early retirement reduction factor under Article V(2) of the
Qualified Pension Plan. 

 The annual benefit payable to an eligible Employee who has satisfied the eligibility requirements to
receive a Disability Pension under the RIP II or KAPL Annex of the Qualified Pension Plan shall be computed in the manner provided by Section B (for an Employee retiring on his normal retirement date) taking into account only Credited Service and
Average Annual Compensation to the actual date of disability retirement and not reduced for the Disability Supplement in the RIP II or KAPL Annex of the Qualified Pension Plan. In the case of an eligible Employee whose date of retirement precedes
the first day of the month after reaching age 60 the Plan benefit shall then be reduced by 12%. 
 If the Disability Pension payable to the Employee
under the Qualified Pension Plan is discontinued as a result of the Employee’s disability ceasing before the Employee reaches age 60, the benefit provided under this Section C. shall also be discontinued. 
  

	F.	Special Benefit Protection for Certain Employees. A former Employee whose Service with the Company is terminated on or after December 31, 1994 and after completing 25 or more
years of Vesting Service, who does not withdraw his required or voluntary contributions from the Qualified Pension Plan before retirement, shall be eligible for a benefit under this Plan commencing upon his or her retirement under the Qualified
Pension Plan after reaching age 60 if: 

  

	 	(3)	the Employee’s Service is terminated for transfer to a successor employer and 

  

	 	(4)	the Employee does not retire under the Qualified Pension Plan until the later of (1) termination of service with the successor employer and (2) the first of the month after reaching
age 60. 

 In determining the benefit under this Plan, the Average Annual Compensation shall be based on the last 120 completed months
with the successor employer before the Employee’s Service termination date and the Annual Estimated Social Security Benefit shall be determined as though the Employee’s retirement date was the date of termination. 
  

	G.	 Survivor Benefits. Subject to Section F.(b), if a survivor benefit applies with respect to the past and future service annuity portion of a Employee’s Annual
Pension payable under the Qualified Pension Plan, such survivor benefit shall automatically apply to any benefit which he or she may be eligible under this Plan. The Employee’s benefit shall be 

  

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adjusted and paid in the same manner as such pension payable under the Qualified Pension Plan is adjusted and paid on account of such survivor benefit.

  

	H.	Payments Upon Death. 

 (a) If an eligible Employee dies
in active Service, or following retirement with a benefit from this Plan, and a death benefit (other than a return of Employee contributions with interest including an Employee’s Personal and Voluntary Pension Account ) is payable to the
beneficiary or Surviving Spouse of such Employee under the Qualified Pension Plan, a death benefit shall also be payable to the beneficiary or Surviving Spouse under this Plan as follows: 
  

	 	 (4)
	 Any such death benefit payable to a surviving spouse under this Plan shall equal 50% of the Employee’s Annual Retirement
Income under this Plan reduced by (1) 100% of the Employee’s preretirement surviving spouse benefit payable or other lump sum benefit under the Qualified Pension Plan, (2) 25% of the Employee’s Annual Estimated Social Security
Benefit, (3) the Employee’s Personal Pension Account benefit , and (4) the benefit payable under the Lockheed Martin Corporation Supplemental Retirement Plan. Payments to the surviving spouse shall commence on the later of:
(1) the Employee’s 55th birthday, or (2) the Employee’s date of death. 

  

	 	(5)	Any such death benefit payable to a surviving spouse under this Plan shall take into account only Credited Service and Average Annual Compensation to the earlier of the Employee’s death
or termination of employment and will be reduced for early retirement using the early retirement reduction factors under Article V(2) of the Qualified Pension Plan. 

  

	 	(6)	Any such benefit payable to a surviving spouse shall be paid at the same time as the Qualified Pension Plan and will be paid in accordance with the payment provisions of the RIP II or KAPL
Annex of the Qualified Pension Plan. If benefits from the Qualified Pension Plan are paid under the payment provisions of the RIP II or KAPL Annex of the Qualified Pension Plan, then benefits from this Plan will be paid in the same payment form.

 (b) In lieu of the benefit otherwise payable to a beneficiary or surviving spouse under Section E. or paragraph
(a) of this Section, an Employee may elect to have all or any portion of such benefit (or the equivalent value of all or any portion) paid to the beneficiary designated in the employee’s election in any of the following forms: 

 

	 	(1)	An annuity for the spouse’s remaining lifetime. If the beneficiary dies before the spouse, the remaining benefit shall be paid as provided in the employee’s election. In the absence
of any such provision, the equivalent value of the remaining payments shall be paid to the beneficiary’s estate, if any, otherwise to the beneficiary’s Personal Representative. 

  

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	 	(2)	An annuity for the beneficiary’s remaining lifetime. If any annuity otherwise payable under this item (2) is less than $5,000 annually, the equivalent value shall be paid instead to
the beneficiary in a lump sum. 

  

	 	(3)	A lump sum. 

 Any such election must be made in writing to the
Qualified Pension Plan Administrator prior to the Employee’s death, and becomes effective when the Qualified Pension Plan Administrator receives it. For purposes of this election, an Employee may designate as his beneficiary only his estate,
his former spouse, or a member of his immediate family. 
 For the purpose of determining the benefit conversions required to provide
the benefit payments referred to above, the interest rate assumption shall be the interest rate used by the Pension Benefit Guaranty Corporation at the beginning of the year in which the Employee’s death occurs, in valuing immediate annuities
for terminating single employer trusteed plans, and the mortality assumption shall be based on the UP-1984 Mortality Table. 
  

	I.	Limitations on Benefits. 

 (a) Notwithstanding any
provision of this Plan to the contrary, if the sum of: 
  

	 	(5)	The annual benefit (calculated before applying any reductions for early retirement or additions for any supplements payable under the Qualified Pension Plan, and prior to any calculation for
disability retirement reductions) otherwise payable to an Employee under this Plan; 

  

	 	(6)	The Employee’s Annual Pension Payable under the Qualified Pension Plan (including the Personal Pension Account Annuity) (calculated as a five-year certain annuity);

  

	 	(7)	100% of the Annual Estimated Social Security Benefit before any adjustment for less than 35 years of Pension Benefit Service; 

  

	 	(8)	the Employee’s annual benefit under the Lockheed Martin Corporation Supplemental Retirement Plan; and 

 to the extent the Committee so determines, the benefit payable under any other pension plan contract, or policy of the Plan Sponsor (whether qualified or
non-qualified), or government program attributable to periods of service for which Credited Service is granted by the Committee for the determination of the benefit under this Plan or is credited by the Qualified Pension exceeds 60% of his or her
Annual Average Compensation, the benefit payable under this Plan shall be reduced by the amount of the excess. 
  

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 (b) Notwithstanding any provision in this Plan to the contrary, the amount of the benefit
payable and any death benefit payable to or on behalf of any Employee who is or was an Officer of the Company on the date of his retirement or death, whichever is earlier, shall be determined according to such general rules and regulations as a
Committee appointed by the Board of Directors may adopt, subject to the limitation that any such benefit or death benefit may not exceed the amount which would be payable under this Plan in the absence of such rules and regulations. 
 J. Adjustments Following Retirement. If the Pension payable under the Qualified Pension Plan to any Employee is increased following the Employee’s retirement as a
result of a general increase in the Pensions payable to retired employees under that plan, no such increase will be made under this Plan unless the Committee makes such determination. 
 K. Non-duplication of Benefits. Benefits under this Article III are intended to supplement the Participant’s actual benefit under the Qualified Pension Plan as necessary to provide the Participant with the full
benefit the Participant would have received under the Qualified Pension Plan with the special adjustments described above. To prevent duplication of benefits, the full benefit under the Qualified Pension Plan and the enhanced benefit described above
shall be calculated without reduction for Code section 415 and Code section 401(a)(17), then reduced by the benefit payable from the Qualified Pension Plan and further reduced by the benefit payable from the Lockheed Martin Corporation Supplemental
Retirement Plan. 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. 
 ARTICLE IV 
 PAYMENT OF
BENEFITS 
 1. Vesting. Except as provided in Article V, and subject to the Company’s right to discontinue the Plan as provided in
Article VI, a Participant shall have a non-forfeitable interest in benefits payable under this Plan to the same extent as benefits are vested under the applicable Qualified Pension Plan. As provided in Article V, 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 at the same time as the Qualified Pension Plan and will be paid in accordance with the payment provisions of the RIP II or KAPL Annex of the Qualified Pension Plan. If benefits from the Qualified Pension Plan are
paid under the payment provisions of the RIP II or KAPL Annex, then benefits from this Plan will be paid in the same payment form. 
  

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 If an Employee’s pension benefit under the Qualified Pension Plan is suspended for any month in accordance
with the re-employment provisions thereof, the Employee’s benefit under this Plan for that month shall likewise be suspended. 
 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 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: 
  

 28 

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	 	(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. 
 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, 

  

 29 

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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. 
 ARTICLE V 
 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. 
  

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 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 VI 
 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). 
  

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 ARTICLE VII 
 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 5, the Committee delegates the authority to adjudicate claims to the Pension Plans Administration 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 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 from all liability
with respect thereto. 
  

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 5. Proof of Claims. The Committee or 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. 

  

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 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, Human Resource Services. 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. A copy of this Plan shall be available for inspection by Participants or other
persons entitled to benefits under the Plan at reasonable times at the offices of the Company. 
 8. 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 

  

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jurisdiction to be invalid or unenforceable, the remaining provisions hereof shall continue to be fully effective. 
 9. 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, 2004. 
  

 36Exhibit 10.7

 Exhibit 10.7 
 Lockheed Martin Corporation 
 Severance Benefit Plan For Certain Management Employees 
 Originally Effective January 1, 2008 
 Amended and Restated Effective June 26, 2008 
 This document sets forth the terms of 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 - An amount equal to fifty-two (52) weeks of Base Pay. 

  

	 	(c)	Base Pay - The Employee’s weekly salary at the time of the Employee’s termination of employment. 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 

  

					
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	  	1	  	

	 	 
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. 

  

	 	(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 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 in the case of any 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 

  

					
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	  	2	  	

	 	 
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)	Long Term Incentive Performance Award - A cash award under the Lockheed Martin Corporation Amended and Restated 2003 Incentive Performance Award Plan or any successor plan that
measures performance over a three year cycle. 

  

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

  

	 	(p)	Plan Administrator - Lockheed Martin Corporation. 

  

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

  

	 	(r)	Prorated Bonus Equivalent - An amount equal to (i) an Eligible Employee’s Base Pay multiplied by the target percentage assigned to the Eligible Employee under Paragraph B of
Exhibit A to the Lockheed Martin Corporation 2006 Management Incentive Compensation Plan (2006) (or any successor plan), and (ii) then multiplying the product obtained under (i) by the number of full weeks for which the Eligible
Employee was employed by the Company in the Plan Year in which the Executive Layoff Event occurs. 

  

	 	(s)	Salaried Employee Plan - The Severance Benefit Plan for 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. 

  

					
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	  	3	  	

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

  

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

  

	 	(o)	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. 

  

	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)	 an Employee who has been granted a Long Term Incentive 

  

					
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	  	4	  	

	 	 
Performance Award for which a performance cycle is still ongoing; or 

  

	 	(iii)	an Employee who is designated in writing by the Senior Vice President, Human Resources to participate in 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 determines in his or her sole discretion that the Employee’s employment has or will terminate on account of Executive Layoff Event. 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 termination of employment will not be
considered to have occurred on account of an Executive Layoff Event 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 

  

					
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	  	5	  	

	 	 
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 terminates employment on his or her own initiative including retirement, resignation, failure to return from leave of absence or disability, or 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 days of the Eligible Employee’s termination of employment as a result of an Executive Layoff Event execute both (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) Post-Employment Conduct Agreement substantially in the form attached to the Plan as Exhibit A 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 

  

					
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	  	6	  	

	 	 
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 who has received a Long Term Incentive Performance Award for which the performance period has not concluded or any other Eligible Employee and is not covered by
Section 5(b)(i) or (ii) above – a lump sum payment equal to the sum of (a) the product of the number of full Years of Service (up to a maximum of 26) credited to the Eligible Employee multiplied by the Eligible Employee’s
weekly rate of Base Pay at the time of termination of employment, plus (b) the Eligible Employee’s Pro Rata Bonus Equivalent, plus (c) 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; 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. 

  

	 	(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 soon as practicable following the Eligible Employee’s termination of employment (and the expiration of any applicable revocation period thereunder without revocation of such
release of claims) in the case of payment of a Basic Severance Benefit and execution of a release of claims following Executive Layoff Event in the case of payment of a Supplemental Severance Benefit, but in no event later than the March 15
immediately 

  

					
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	  	7	  	

	 	 
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. 

  

	 	(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. 

  

	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 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. 

  

	 	(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 

  

					
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	  	8	  	

	 	 
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 (i) fifty-two (52), in the case of an Officer; and (ii) twenty-six (26) in the case of any other Eligible Employee. 

  

	 	(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. 

  

	 	(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. 

  

	7.	 Administration. The Company shall be the named fiduciary of the Plan and the Plan Administrator for purposes of ERISA. The Company shall be responsible for the overall
operation of the Plan and shall have the fiduciary responsibility for the general operation of the Plan. 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 

  

					
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	  	9	  	

	 	 
Committee shall have the discretionary authority to interpret any term of the Plan. 

  

	8.	Claims Procedure. 

  

	 	(a)	The Senior Vice President, Human Resources 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 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 Senior Vice President expects to render a decision. 

  

					
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	 	(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 

  

					
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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. 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 

  

					
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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.

  

					
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	  	13	  	

 The Plan has been approved by the Management Development and Compensation Committee and is 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/ Kenneth J. Disken

		 	Kenneth J. Disken
		 	Senior Vice President, Human Resources

  

					
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 Exhibit A 
 Post-Employment Conduct Agreement 
 [Will vary by state and current legal and professional 
 requirements at time of termination] 
 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 Severance Benefit Plan for Certain Management Employees (“Severance Plan”). By signing below,
I agree as follows: 
 (a) Restrictions Following Termination of Employment. 
 (a) Covenant Not To Compete - Without the express written consent of the [Chief Executive Officer/Senior Vice President, Human Resources]1 of the Company, during the [two/one]2 -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. 

  

	1	CEO for elected officers; SVP HR for others. 

	2	Two years for elected officers; one year for others. 

  

					
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 (b) Non-Solicit - Without the express written consent
of the [Chief Executive Officer/Senior Vice President, Human Resources]1 of the Company, during the [two/one]2 -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 and General Counsel 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 CPS 710 (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, 

  

					
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	  	16	  	

	 	 
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 stockholders, directors, officers, employees, agents, attorneys, representatives, 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. 
  

					
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	  	17	  	

 (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 the granting of 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 

  

					
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	  	18	  	

 
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, EADS North America 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. 
 (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 

  

					
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	  	19	  	

 
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. 
  

							
		 	SIGNED this      day of             ,
2        .	 	
				
		 	  
	 		 	
		 	(Signature)	 		 	
				
		 	  
	 		 	
		 	(Printed Name)	 		 	
				
		 	  
	 		 	
		 	(Title)	 		 	
			
		 	FOR LOCKHEED MARTIN CORPORATION:	 	
				
		 	  
	 		 	
		 	(Signature)	 		 	
				
		 	  
	 		 	
		 	(Printed Name)	 		 	
				
		 	  
	 		 	
		 	(Title)	 		 	
				
		 	  
	 		 	
		 	(Date)	 		 	

  

					
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	  	20	  	

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

					
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	  	21

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