Document:

Employment Agreement with Randall Mehrberg

 Exhibit 10a(14) 
  

			
	 Margaret M. Pego
	  	Human Resources
	 Senior Vice President-Human Resources
	  	80 Park Plaza, T21, Newark, NJ 07102
	 and Chief Human Resources Officer
	  	tel: 973-430-7243 fax:973-643-6063
		  	email: Margaret.Pego@pseg.com

 

 

 June 30, 2008 
 Mr. Randall E. Mehrberg 
 2100 Lincoln Park West, #8BS 
 Chicago, IL 60614 
 Dear Randy: 
 We are pleased to offer you the position of Executive Vice President – Planning and Strategy, effective September 8, 2008
(“DOE”). In this position, you will be an employee of PSEG Services Corporation (the “Company”). While you are employed by PSEG Services Corporation, you will devote substantially all of your business time and efforts to the
performance of your duties and use your best efforts in such endeavors. Your acceptance of this offer of employment constitutes your representation that your execution and performance of the requirements of this position will not be in violation of
any other agreement to which you are a party. PSEG Services Corporation is a subsidiary of Public Service Enterprise Group Incorporated (Enterprise or PSEG). 
 You will be paid a base salary of $545,000. Your first salary review will be January 2010. However, in the event of a significant change in responsibilities before December 2009, a salary review will be
conducted upon such change in responsibilities. Salary reviews will be conducted annually thereafter. 
 You will participate in
the Management Incentive Compensation Plan (MICP) of PSEG under the terms and conditions of that Plan. Your target incentive award will be 60% of your base salary. You may, however, be eligible to receive up to 90% of your base salary dependent upon
business results. This may be adjusted from time to time in accordance with established plan procedures. There is no guarantee of payment under the MICP, and any such payment will be contingent upon your establishment and successful completion of
goals and objectives. Any MICP award for the first calendar year of employment will be prorated and your award will based on the number of full months of employment during that year. 
 Within 45 days following your DOE, PSEG Services Corporation will make a cash payment to you in the amount of $250,000 (subject to
withholdings according to the IRS and Company policy). Upon the first anniversary of your DOE, PSEG Services Corporation will make an additional cash payment to you in the amount of $250,000. These amounts must be repaid, and you agree to repay
them, to the extent they have been paid to you, if you leave the Company voluntarily or the Company terminates you

					
	R. Mehrberg	 	
 2
	 	6/30/08

  

 
for Cause (as defined below) within three (3) years of the applicable payment. If you incur such repayment obligation in a calendar year after the calendar year in which the payment was made
to you, the Executive shall be required to return a portion of the Sign-On Bonus equal to the net after-tax amount of the Sign-On Bonus (after application of all refunds and credits as a result of such repayment). 
 You will be a participant in the Long-Term Incentive Plan (LTIP) of Enterprise. Long-term compensation opportunity is reviewed annually by
the Organization and Compensation Committee of the BOD pursuant to the terms of the LTIP. At the first Organization and Compensation Committee meeting following the DOE, it will be recommended to the Organization and Compensation Committee that you
are provided with a LTIP award for 2008 designed to provide you with a value of approximately $800,000. This award will not be prorated for 2008. In the years thereafter, the number and form of LTIP grants recommended in any given year will
appropriately reflect your responsibilities and ability to contribute to the long-term success of Enterprise and is expected to provide a target opportunity of approximately $800,000. All grants under the LTIP for 2009 and future years will be
subject to the terms of the LTIP and the related grant award, subject to the immediately below paragraph. 
 Your LTIP awards
for 2008 and any other equity-based awards (including but not limited to, any restricted shares, restricted stock units, performance shares and options) granted to you in 2008 or thereafter (all such awards, collectively, the “Equity
Awards”), shall be subject to the terms and provisions of the LTIP as in effect from time to time applicable to employees in positions similar to you. Unless any change in LTIP terms and provisions is applicable to all employees in positions
similar to you, the Company shall provide you with the same or more favorable terms for Retirement and involuntary termination without Cause as for the 2008 LTIP Awards as documented on the chart attached hereto titled “Vesting and Payment of
LTI upon Retirement or Involuntary Termination Without Cause.” For this purpose, “Retirement” shall have the same meaning as under the Limited Plan (as defined below) and “Cause” shall have the same definition as in the
Public Service Enterprise Group Incorporated Separation Allowance Benefits Plan for Non-Represented Employees, as amended effective July 1, 2005 (the “Severance Plan”), or, if more favorable to you, the definition of “Cause”
in any successor to the Severance Plan. In addition, if your employment terminates on or after the fourth anniversary of the DOE due to your resignation in order to hold a position with a governmental or non-profit entity agreed to by the Enterprise
CEO (a “Public Service Resignation”), then the Equity Awards will have the same treatment as if such termination were a Retirement after your age 55 and with at least five years of service. 
 You will be eligible to participate in the Limited Supplemental Benefit Plan for Certain Employees of Public Service Enterprise Group and
its Subsidiaries (“the Limited Plan”). Upon your retirement (age 55 with at least five years of service), the Limited Plan will provide a target supplemental pension. For example, if you complete 10 years of service with the Company upon
your retirement, the Plan will provide retirement income equal to 40% of your final average earnings less the aggregate of a) your actual pension provided by the Cash Balance Plan, b) your vested Exelon pension and c) your primary Social Security
benefit payable at normal retirement age. Your vested Exelon 

					
	R. Mehrberg	 	
 3
	 	6/30/08

  

 
pension means that portion of your pension payable from the Exelon qualified retirement plan trust. In addition, the Plan provides a supplemental death benefit equal to 150% of annual salary if
death occurs while employed and before retirement. 
 In addition, if your employment is terminated by the Company without Cause
(as defined above) or due to a Public Service Resignation, then you will be granted the additional service required so that you will be considered to have attained five years of service for the purpose of retirement eligibility and your pension
benefit under the Limited Plan will be calculated as if you had satisfied the requirements for a Retirement under such plan. 
 For the purpose of determining the duration of full-pay short-term temporary disability benefits, as of your DOE, you will be treated as if you had ten (10) years of service with PSEG. 
 In addition, you are eligible to receive twenty-five (25) days vacation upon your DOE. 
 You are eligible for financial counseling on the same terms and condition as applied to other officers of PSEG. You are also eligible to
participate in the PSEG Deferred Compensation Plan For Certain Employees, which allows you to defer all or a portion of your base pay and/or any incentive bonus you may receive in any given year upon employment. You are also eligible for an
executive annual physical examination arranged through the PSEG’s Medical Department. 
 In recognition of your need for an
automobile for business purposes, the Company will provide you with a full size automobile and shall provide the related maintenance, repairs, insurance and costs of operation thereof. 
 You are eligible for those benefits available to associates of PSEG Services Corporation with a similar date of hire generally, except as
otherwise provided in this letter. Please visit http://www.pseg.com/benefits and enter the site as a prospective employee. Click the tab “Benefit Details” for information on all PSEG employee benefit programs. You will also
find answers to many questions you may have. 
 PSEG provides automatic enrollment in its 401(k) plan for newly hired employees.
Enrollment will take place in the first available pay period following your DOE. If you do not enroll, you will be automatically enrolled at the rate of 3% of your compensation. Your contributions and the Company match on your contributions
(beginning upon completion of six months of service) will be placed in the appropriate aged based Target Retirement Fund investment option within the Plan. You may change or cancel your contributions and investment election at any time. More
information will be provided in your new hire kit and through our Benefits Center. If you have any questions, please call our Employee Benefits Center at 1-800-571-0400 and speak with a representative. 

					
	R. Mehrberg	 	
 4
	 	6/30/08

  

 Your employment with PSEG is at-will and therefore you may be discharged with or without
cause and with or without notice at any time. 
 In the event that your employment is terminated without Cause” (as defined
above), you will be paid a payment equaling one year of your then base salary, plus target annual incentive. In addition, if MICP payments are made to other participants in any year that your employment is terminated without Cause, you will be paid
a prorated award to reflect actual results. In addition, the Company will pay the full premium for continuation of medical and dental benefits under COBRA for one year from termination of employment; provided, however, such payment by the Company
will cease upon comparable coverage being available through other employer-based plans. In the event the Company adopts a severance plan applicable to senior executives that is more generous than the above stated benefits, the plan adopted
subsequent to this agreement shall apply. 
 In the event that your employment is terminated without cause pursuant the Change
in Control provisions of the Key Executive Severance Plan of Public Service Enterprise Group, Inc., then the provisions of that Plan will govern the severance to which you are entitled. It will be recommended to the Board of Directors that you be
designated be a Schedule B participant. 
 During the course of your employment, you will have access to and become familiar
with “Confidential Information” as defined below. You agree that you will not, directly or indirectly, disclose or use any Confidential/information, except as required in the course of your employment with the Company or its affiliates and
subsidiaries and consistent with their interests. All files, records, documents, or recordings, electronic or otherwise, containing or relating to Confidential Information, whether prepared by you or otherwise coming into your possession, will
remain the exclusive property of PSEG Services or its affiliates and subsidiaries. 
 As used herein, the term
“Confidential Information” means all trade secrets, proprietary and confidential business information belonging to, used by, or in the possession of the Company or its affiliates and subsidiaries, with respect to their respective business
strategies, plans and financial information, purchase or sale of property, leasing, pricing sales programs or tactics, actual or past sellers, purchasers, lessees, lessors or customers, those with whom the Company or its affiliates and subsidiaries
has begun negotiations for new business, costs, employee compensation, marketing and development plans, inventions and technology, whether such Confidential Information is oral, written or electronically recorded or stored, except information in the
public domain, information known to you prior to your employment with PSEG Services Corporation, and information received by you from sources other than PSEG Services Corporation, its affiliates and subsidiaries, without obligation of
confidentiality. This obligation survives the termination of your employment with the Company, regardless of the reason for that termination. 

					
	R. Mehrberg	 	
 5
	 	6/30/08

  

 You acknowledge and agree that in the event of a breach by you of any of the
confidentiality terms of this Agreement, PSEG will suffer irreparable harm for which money damages are not an adequate remedy, and that, in the event of such breach, PSEG will be entitled to obtain an order of a court of competent jurisdiction for
equitable relief from such breach, including, but not limited to, temporary restraining orders and preliminary and/or permanent injunctions against the breach of such agreements by you. Finally, you agree that you will execute a Non-Compete and
Non-Solicitation Agreement in the form annexed hereto, as a condition of your employment in your new position. 
 Notwithstanding any provision of this letter to the contrary, if you are a “specified employee” as defined in Section 409A of the Internal Revenue Code of 1986, as amended (“Code Section 409A”), to
the extent needed to satisfy the requirements of Code Section 409A, you will not receive payments upon a termination of your employment until the earlier of (i) the date which is six months after your termination of employment for any
reason other than death, or (ii) the date of your death. The provisions of this paragraph only apply if, and to the extent, required to comply with Code Section 409A. 
 If you (or your representative) inform the Company that any provision of this letter would cause you to incur any additional tax or
interest under Code Section 409A or any regulations or Treasury guidance promulgated thereunder, the Company will consider in good faith reforming such provision, after consulting with you and receiving your approval (which will not be
unreasonably withheld); provided that the Company agrees to maintain, to the maximum extent practicable, the original intent and economic benefit to you of the applicable provision without violating the provisions of Code Section 409A.

 Any and all disputes arising out of or relating to this your employment, other than an unemployment or workers’
compensation claim, will, at the demand of either you or PSEG, whether made before or after the institution of any legal proceeding, be resolved through binding arbitration administered by the American Arbitration Association (AAA) in accordance
with the Employment Dispute Resolution Rules of the AAA and with the United States Arbitration Act. The arbitration will be conducted in Newark, New Jersey before one arbitrator. If the parties cannot agree on the arbitrator within 30 days after the
demand for arbitration then either party may request the AAA to select an arbitrator, which selection will be deemed acceptable to both parties. To the maximum extent practicable, the arbitration proceeding will be concluded within 180 days of
filing the demand for arbitration with the AAA. The parties will share all costs and fees of the arbitration equally, unless otherwise awarded by the arbitrator. Each party agrees to keep all such disputes and arbitration proceedings strictly
confidential except for disclosure of information required by law. Each party further agrees to abide by and perform any award rendered by the arbitrator, and that a judgment of a court of competent jurisdiction may be entered on the award.

 Your employment is governed by the laws of New Jersey, without reference to any conflict of law rules or regulations. If a
court finds any provision of this letter to be invalid, unenforceable or void, such provision will be severed from this letter and will not affect the validity or enforceability of any other provision as set forth herein. Moreover, this letter
contains the entire agreement of the parties relating to the subject matter 

					
	R. Mehrberg	 	
 6
	 	6/30/08

  

 
hereof, and supersedes in its entirety any and all prior agreements, understandings or representations relating to the subject matter discussed herein, other than the non-compete and
non-solicitation agreement attached. No modifications to this agreement will be valid unless made in writing and signed by both parties. 
 As part of PSEG’s requirement for a work force that is free from the influence of illegal chemical substances, this offer of employment is conditional upon your successful completion of a medical
examination which will include definitive analysis of a freshly voided urine specimen for the presence of commonly abused drugs, including marijuana. This offer is also conditional upon a satisfactory background investigation and reference check.

 If the foregoing is in accordance with your understanding, please sign the enclosed copy of this letter and return it to me.

  

	
	Sincerely,
	
	 /s/ Margaret M. Pego

	Margaret M. Pego
	 Senior Vice President - Human Resources
 and Chief Human Resources Officer

 Agreed to this 2nd day of July 2008 
  

	
	 /s/ Randall E. Mehrberg

	Randall E. Mehrberg

  

			
	 Attachment:
	  	Non-Compete/Non-Solicitation Agreement
		  	PSEG Domestic Relocation Assistance Plan - Tier 1
		  	Vesting and Payment of LTI upon Retirement or Involuntary Termination
		  	Without Cause Chart

 NON-COMPETE/NON-SOLICITATION AGREEMENT 
 In consideration of employment with Public Service Enterprise Group Incorporated, or any subsidiary, affiliate or successor-in-interest
thereof (the “Company”), I agree to the following: 
  

	1.	Non-Compete 

 During my
employment with the Company, I agree not to compete in any manner, either directly or indirectly, whether for compensation or otherwise, with the Company, or to assist any other person or entity, business or otherwise, to compete with the Company,
without the Company’s written consent. Further, during my employment with the Company, I agree not to engage in other conduct, employment or business enterprise that is in conflict with, may present an actual conflict with, or may appear to be
in conflict with or to present a conflict with, the Company without the prior written permission of the Company. Such permission shall be granted by the Chairman and CEO of Public Service Enterprise Group. 
  

	2.	Non-Solicitation 

 During
my employment with the Company and for a period of 2 years following my employment with the Company, I agree either on my own behalf or on behalf of any other person or entity, business or otherwise, directly or indirectly, not: (i) to hire,
solicit, or encourage to leave the employ of the Company any person who is then an employee of the Company; (ii) to solicit, entice away or divert any person or entity who was or is then a customer or supplier of the Company or any other person
sharing a business relationship with the Company; or (iii) to solicit, entice away or divert any person or entity who was identified as a potential customer or supplier of the Company at the time I was an employee of the Company and with
respect to which I participated, directly or actively, in providing, selling, attempting to sell, or delivering services of the Company. 
  

	3.	General 

  

	 	a.	This Agreement shall be governed by and in accordance with the laws of the State of New Jersey and is being executed in the State of New Jersey. The laws of New Jersey
(including the choice of law rule of New Jersey) shall govern the validity and interpretation of this Agreement as well as the performance by me and the Company of our respective duties and obligations. Any dispute or claim relating to this
Agreement shall be brought in a Court of competent jurisdiction in New Jersey, and I hereby agree and consent to personal jurisdiction in New Jersey. 

  

	 	b.	This Agreement shall not in any way be construed as to change, alter or modify the employment-at-will relationship between me and the Company. 

 

	 	c.	If any provision or clause of this Agreement, or portion thereof, shall be held by any Court or other tribunal of competent jurisdiction to be illegal, void or
unenforceable in such jurisdiction, the remainder of such provisions shall not thereby be affected and shall be given full effect, without regard to the invalid portion. It is agreed that it is the intention of the parties to this Agreement that if

	 	 
any court construes any provision or clause of this Agreement, or any portion thereof, to be illegal, void or unenforceable because of the duration of such provision or the area or matter covered
thereby, such court shall reduce the duration, area, or matter of such provision and, in its reduced form, such provision shall then be enforceable and shall be enforced. 

  

	 	d.	I agree that if subsequent to execution of this Agreement I am transferred to or accept another position with any company affiliated with the Company, this Agreement
shall continue in effect and shall be deemed as having been automatically assigned to such entity. Further, no change in assignment, position, department, division, unit or location to which I am assigned shall in any way affect the obligations
under this Agreement. This Agreement shall not be affected by any change in name of the Company, or any consolidation, merger, acquisition or addition or deletion, and shall be automatically assigned to any successor company of the Company, and
continue in effect thereafter in accordance with its terms. 

  

	 	e.	This Agreement shall inure to the benefit of the Company’s successors or assigns and, as far as legally possible, shall be binding upon my heirs, legal
representations and assigns. 

  

	 	f.	The provisions of Sections 2 and 3g of this Agreement shall survive termination of my employment with the Company irrespective of the reasons therefore.

  

	 	g.	I understand that the Management Incentive Compensation Plan and the Long-Term Incentive Plan grants each provide for the forfeiture of awards upon violation of
confidentiality, Non-compete and non-solicitation provisions in such plans or grants, or upon certain restatements of financial statements. I understand that such forfeitures are in addition to the provisions of this Non-Compete/Non-Solicitation
Agreement and the related Offer Letter. 

  

	 	h.	I acknowledge that: (i) I have read and understand this agreement; (ii) I fully understand the limitations which it imposes on me; (iii) I have had the
opportunity to review this Agreement with the counsel of my choice; and (iv) I have signed and entered into this Agreement voluntarily and of my own free will. 

 Acknowledged, accepted and agreed this 2nd day of July 2008. 
  

			
	Signature of Employee:	 	 /s/ Randall E. Mehrberg

		 	Randall E. Mehrberg

 Vesting and Payment of LTIP Upon Retirement or Involuntary Termination Without Cause 

  

			
	 	  	 2008 Award

	 Vesting of Restricted
 Shares/Restricted Stock Units
	  	 Upon retirement within one year of grant, vesting prorated on whole months of service throughout the year.
  
 Fully vested in total award at one year from grant.
  
 In the event of death, disability or involuntary termination without cause fully vesting
in total award upon the date of the event, no proration.

		
	 RS Payout
	  	 Upon retirement award is paid over period of original vesting, i.e., four years.
  
 Award paid immediately in the event death, disability or termination without
cause

		
	 Performance Shares
	  	 Upon retirement award is prorated for whole months worked out of entire 36 month performance period
  
 In the event of death, disability or involuntary termination without cause same as
retirement.

		
	 Performance Share Payout
	  	Payment made at the end of the performance cycle (36 months) along with other award recipients
		
	 Options
	  	Upon retirement, all Options vest and retiree may exercise any vested Options before Expiration Date of the Options
		
	 Option Exercise Period
	  	Expiration date is the earliest of 10-years from date of grant or three year anniversary of retirement death or disability. In the event of termination without cause,
90th day after termination.Exhibit 10.9

 Exhibit 10.9 
 LOCKHEED MARTIN CORPORATION 
 SUPPLEMENTAL SAVINGS
PLAN 
 (Amended and Restated as of November 1, 2009) 
 ARTICLE I 
 PURPOSES OF THE PLAN 
 The purposes of the Lockheed Martin Corporation Supplemental Savings Plan (the “Supplemental Savings Plan”) are to provide certain
key management employees of Lockheed Martin Corporation and its subsidiaries (the “Company”) the opportunity to defer compensation that cannot be contributed under the Lockheed Martin Salaried Corporation Savings Plan (the “Qualified
Savings Plan”) because of the limitations of Code section 401(a)(17), 402(g), or 415(c)(1)(A), and to provide those employees with matching credits equal to the matching contributions that would have been made by the Company on their behalf
under the Qualified Savings Plan if the amounts deferred had been contributed to the Qualified Savings Plan. 
 The Plan was
amended and restated, effective January 1, 2005, in order to comply with the requirements of Code section 409A. The 2005 amendment and restatement of the Plan, as further amended and restated from time to time, applies only to the portion of a
Participant’s Account Balance (and any earnings or losses attributable to those amounts) that is deferred or becomes vested on or after January 1, 2005. The portion of a Participant’s Account Balance that was deferred and vested prior
to January 1, 2005 (and any earnings or losses attributable to those amounts) shall be governed by the terms of the Plan in effect on December 31, 2004, which is attached hereto as Appendix A. 
 Since 2005, the Plan has been amended and restated from time to time to provide for the treatment of Roth 401(k) contributions, to make
installment distribution options consistent amount the nonqualified plans sponsored by the Company, to clarify additional provisions in accordance with the final Treasury regulations issued under Code section 409A, and to make other administrative
clarifications. The Plan is hereby amended and restated, effective November 1, 2009, to modify the eligibility provisions of the Plan. 

 ARTICLE II 
 DEFINITIONS 
 Unless the context indicates otherwise,
the following words and phrases shall have the meanings hereinafter indicated: 
 1. ACCOUNT — The bookkeeping account
maintained by the Company for each Participant which is credited with the Participant’s Deferred Compensation, Matching Credits, and earnings (or losses) attributable to the Investment Options selected by the Participant, and which is debited
to reflect distributions. The portions of a Participant’s Account allocated to different Investment Options will be accounted for separately. 
 2. ACCOUNT BALANCE — The total amount credited to a Participant’s Account at any time, including the portions of the Account allocated to each Investment Option. 
 3. BENEFICIARY — The person or persons designated by the Participant as his or her beneficiary under the Qualified Savings Plan.

 4. BOARD — The Board of Directors of Lockheed Martin Corporation. 
 5. CODE — The Internal Revenue Code of 1986, as amended. 
 6. COMMITTEE — The committee described in Section 1 of Article IX. 
 7.
COMPANY — Lockheed Martin Corporation and its subsidiaries. 
 8. COMPANY STOCK INVESTMENT OPTION — The Investment
Option under which the Participant’s Account is credited as if invested under the investment option in the Qualified Savings Plan for the common stock of the Company. 
 9. COMPENSATION — An employee’s base salary from the Company, as defined in the Qualified Savings Plan. 
 10. DEFERRAL AGREEMENT — The written agreement executed by an Eligible Employee on the form provided by the Company under which the
Eligible Employee elects to defer Compensation for a Year. 
 11. DEFERRED COMPENSATION — The amount of Compensation
deferred and credited to a Participant’s Account under the Supplemental Savings Plan for a Year. 
 12. ELIGIBLE EMPLOYEE
— A salaried employee: 
 (i) who is eligible to participate in the Qualified Savings Plan as of the thirtieth
(30th) day preceding the last day on which a Deferral Agreement may be made for a Year, and 
  

 2 

 (ii) (a) who is a participant in the Lockheed Martin Corporation Management Incentive
Compensation Plan as of November 1 of the Year preceding the Year for which a Deferral Agreement is to take effect, or 
 (b) whose annual rate of Compensation equals or exceeds $200,000 (increased by $5,000 for each Year after 2009) as of November 1 of the Year preceding the Year for which a Deferral Agreement is to take effect, and 
 (iii) who satisfies such additional requirements for participation in this Supplemental Savings Plan as the Committee may from time to time
establish. In the exercise of its authority under this provision, the Committee shall limit participation in the Plan to employees whom the Committee believes to be a select group of management or highly compensated employees within the meaning of
Title I of the Employee Retirement Income Security Act of 1974, as amended. For example, the Committee may limit participation in the Plan to employees who are engaged full-time in activities related to the management of the Corporation or its
subsidiaries, affiliates, programs, or employees. 
 Notwithstanding section (ii)(b) above, an employee who was a Participant in
the Plan in 2009 shall remain an Eligible Employee on November 1, 2009 (and November 1 of each succeeding year), provided that (a) his or her annual rate of Compensation on November 1, 2009 (and November 1 of each succeeding
year) equals or exceeds $150,000, (b) he or she continues to participate in the Plan for each Year after 2009, and (c) he or she satisfies section (iii) above (hereinafter referred to as “grandfathered Participants”). If
such a grandfathered Participant cancels his or her Deferral Agreement for any Year after 2009, such grandfathered Participant shall no longer be an Eligible Employee until such time as he or she has satisfied sections (i), (ii), and
(iii) above. 
 13. EXCHANGE ACT — The Securities Exchange Act of 1934. 
 14. INVESTMENT OPTION — A measure of investment return pursuant to which Deferred Compensation credited to a Participant’s Account
shall be further credited with earnings (or losses). The Investment Options available under this Supplemental Savings Plan shall correspond to the investment options available under the Qualified Savings Plan (other than the ESOP Fund or the
Self-Managed Account, which are not available under this Plan). 
 15. MATCHING CREDIT — Any amount credited to a
Participant’s Account under Article IV. 
 16. PARTICIPANT — An Eligible Employee for whom Compensation has been
deferred under this Supplemental Savings Plan; the term shall include a former employee whose Account Balance has not been fully distributed. 
 17. QUALIFIED SAVINGS PLAN — The Lockheed Martin Corporation Salaried Savings Plan or any successor plan. 
  

 3 

 18. SECTION 16 PERSON — A Participant who at the relevant time is subject to the
reporting and short-swing liability provisions of Section 16 of the Exchange Act. 
 19. 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. 
 20.
SUPPLEMENTAL SAVINGS PLAN — The Lockheed Martin Corporation Supplemental Savings Plan, which was originally adopted by the Board of Directors of Lockheed Corporation, effective January 1, 1984, as the Lockheed Corporation Supplemental
Savings Plan, and which was amended and restated (and re-named) pursuant to action of the Board on July 25, 1996, and as further amended from time to time. 
 21. YEAR — The calendar year. 
  

 4 

 ARTICLE III 
 ELECTION OF DEFERRED AMOUNT 
 1. Timing of Deferral
Elections. An Eligible Employee may elect to defer Compensation for a Year by executing and delivering to the Company a Deferral Agreement by the deadline established by the Committee or its delegate (no later than the end of the preceding
Year). An Eligible Employee’s Deferral Agreement shall be irrevocable when delivered to the Company and shall remain irrevocably in effect for all succeeding Years, except that the Deferral Agreement may be modified or revoked with respect to
any succeeding year by the Eligible Employee’s execution and delivery to the Company of a new or modified Deferral Agreement by the deadline established by the Committee or its delegate (no later than the end of the preceding Year). 

2. Amount of Deferred Compensation. Unless an Eligible Employee elects to make no deferral for a Year, the Eligible
Employee’s Deferred Compensation for a Year shall equal (i) his or her Compensation from the time when his or her Deferral Agreement takes effect during the Year (as elected under Section 3 of this Article III) until the last day of
the Year, multiplied by (ii) the percentage of Compensation that the Eligible Employee has elected to contribute to the Qualified Savings Plan (whether in the form of pre-tax salary reduction contributions, Roth 401(k) contributions, after-tax
contributions, or a combination thereof) for that Year. An Eligible Employee who has elected to make a deferral for a Year under this Supplemental Savings Plan shall be precluded from modifying his or her rate of contributions to the Qualified
Savings Plan for that Year after the date on which his or her Deferral Agreement for that Year (including any continuing Deferral Agreement) has become irrevocable under Section 1 of this Article III. 
 3. Time when Deferral Agreement Takes Effect. The Eligible Employee may elect to have his or her Deferral Agreement take effect after
the occurrence of either of the following triggering events: 
 (a) the Eligible Employee’s pre-tax salary reduction
contributions and/or Roth 401(k) contributions, if applicable, under the Qualified Savings Plan for the Year equal the applicable limit under Code section 402(g), or 
 (b) the Compensation paid to the Eligible Employee for the Year equals the applicable compensation limit under Code section 401(a)(17), or, if earlier, the annual additions (within the meaning of Code
section 415(c)(2)) of the Eligible Employee for the Year under the Qualified Savings Plan and any other plan maintained by the Company equal the applicable limit under Code section 415(c)(1)(A). 
 An Eligible Employee’s Deferral Agreement shall first take effect and apply to that portion of Compensation earned by the Eligible Employee for a
particular payroll period that exceeds the amount at which, or with respect to which, the triggering event occurs. 
  

 5 

 ARTICLE IV 
 MATCHING CREDITS 
 The Company shall credit to the
Account of a Participant as Matching Credits the same percentage of the Participant’s Deferred Compensation as it would have contributed as matching contributions to the Qualified Savings Plan if the amount of the Participant’s Deferred
Compensation had been contributed as pre-tax salary reduction, Roth 401(k), or after-tax contributions to the Qualified Savings Plan. 
 ARTICLE V 
 CREDITING OF ACCOUNTS 
 1. Crediting of Deferred Compensation. Deferred Compensation shall be credited to a Participant’s Account as of the day on which
such amount would have been credited to the Participant’s account under the Qualified Savings Plan if the Participant’s Deferred Compensation had been contributed as pre-tax salary reduction or after-tax contributions to the Qualified
Savings Plan. 
 2. Crediting of Matching Credits. Matching Credits shall be credited to a Participant’s Account as
of the day on which the Deferred Compensation to which they relate are credited under Section 1. 
 3. Crediting of
Earnings. Earnings (or losses) shall be credited to a Participant’s Account based on the Investment Option or Options to which his or her Account has been allocated, beginning with the day as of which any amounts (or any reallocation of
amounts) are credited to the Participant’s Account. Any amount distributed from a Participant’s Account shall be credited with earnings (or losses) through the date that is four (4) business days before the date on which the
distribution is made. The manner in which earnings (or losses) are credited under each of the Investment Options shall be determined in the same manner as under the Qualified Savings Plan. 
 4. Selection of Investment Options. A Participant may elect to allocate his or her Account among the Investment Options available
under the Qualified Savings Plan (other than the options designated as the ESOP Fund or the Self Managed Account). The procedures for directing allocation and reallocations among the Investment Options in the Supplemental Savings Plan (including the
procedures relating to timing, frequency, amount, and the investment of Matching Credits) shall be the same as the procedures for making allocations under the Qualified Savings Plan. In the event a Participant does not make an investment allocation
for the Supplemental Savings Plan, his elections will be deemed to be the elections made by the Participant in the Qualified Savings Plan (except that an election for the ESOP Fund or the Self Managed Account shall be disregarded). 
  

 6 

 ARTICLE VI 
 PAYMENT OF BENEFITS 
 1. General. The
Company’s liability to pay benefits to a Participant or Beneficiary under this Supplemental Savings Plan shall be measured by and shall in no event exceed the Participant’s Account Balance, which shall be fully vested and nonforfeitable at
all times. All benefit payments shall be made in cash and, except as otherwise provided, shall reduce allocations to the Investment Options in the same proportions that the Participant’s Account Balance is allocated among those Investment
Options. 
 2. Commencement of Payment. The payment of benefits to a Participant shall commence as soon as
administratively feasible (but no more than 90 days) following the Participant’s termination of employment with the Company. Notwithstanding the foregoing, benefits paid under this Plan to a Participant who is reasonably determined by the
Company to be a “specified employee” within the meaning of Code section 409A(2)(B)(i), shall not commence before six (6) months following the month in which the Participant terminates employment. No payment shall commence or be made
under this Section 2 unless the Participant’s termination of employment constitutes a “separation from service” under Code section 409A(a)(2)(a)(i). 
 3. Form of Payment. At the time an Eligible Employee first completes a Deferral Agreement, he or she shall irrevocably elect the form of payment of his or her Account Balance from among the
following options: 
 (a) A lump sum. 
 (b) Annual payments, as designated by the Participant (i) for a period of 5, 10, 15, or 20 years for distributions commencing prior to January 1, 2008, or (ii) for a period not to exceed 20
years (or 20 annual payments) for distributions commencing on or after January 1, 2008. The amount of each annual payment shall be determined by dividing the Participant’s Account Balance on the date such payment is processed by the number
of years remaining in the designated installment period. 
 Such election shall be made in writing in the form and manner
designated by the Company. Notwithstanding the foregoing, if the Account Balance of a Participant who is entitled to begin payment equals $10,000 or less, the Participant’s Account Balance shall be paid in a single lump sum payment in full
discharge of all liabilities with respect to such benefits. 
 4. Prospective Change of Payment Election. 
 (a) A Participant may modify his or her payment election at the time the Participant enters into a Deferral Agreement for a Year. Any such
modification shall apply to all amounts credited to the Participant’s Account under this Supplemental Savings Plan. 
  

 7 

 (b) In the event a Participant does not make a valid election with respect to the form of
benefit, the Participant will be deemed to have elected that payment of benefits be made in a lump sum. 
 (c) A
Participant’s election (including a “deemed election” in accordance with the preceding paragraph) shall remain in effect unless and until such election is modified by a subsequent election in accordance with (d) below.

 (d) Notwithstanding anything to the contrary in this Article VI, a Participant may make a new election with respect to the
commencement of payment and form of payment. A new election under this section shall be made by executing and delivering to the Company an election in such form as prescribed by the Company. To constitute a valid election by a Participant making a
prospective change to a previous election, (i) the prospective election must be executed and delivered to the Company at least twelve (12) months before the Participant’s termination of employment, and (ii) the first payment must
be delayed by at least sixty (60) months from the date the first payment would be due under the Participant’s previous election, and (iii) such change in election shall not be given effect until twelve 12 months from the date that the
change in election is delivered to the Company. In the event an election fails to satisfy the provisions set forth in this paragraph, such election shall be void and, if such an election is void, payment shall be made in accordance with the most
recent election which was valid. 
 (e) 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
that conform to the rules provided in Notice 2005-1, and subsequent Internal Revenue Service guidance providing transition relief under Code section 409A. 
 5. Death Benefits. Upon the death of a Participant before a complete distribution of his or her Account Balance, the Account Balance will be paid to the Participant’s Beneficiary in an
immediate lump sum. 
 6. Acceleration Upon Conflict of Interest. Notwithstanding a Participant’s form of payment
election under Section 3 of this Article VI, if following a Participant’s termination of employment with the Company, the Participant takes a position (or accepts a position) with a governmental entity, agency, or instrumentality and that
employer has determined or indicated that the Participant’s continued participation in the Plan may constitute a conflict of interest precluding the Participant from continuing in his position (or from accepting an offered position) with that
employer or subjecting the Participant to penalty, sanction, or otherwise limiting the Participant’s responsibilities for that employer, then the Participant’s Account Balance shall be distributed to him or her in a lump sum as soon as
practical following the later of (i) the date on which the Participant commences employment with the government employer; or (ii) the date on which it is determined that the conflict of interest may exist; provided, however, that if a
distribution in accordance with the provisions of this Section 6 from the portion of the Participant’s Account allocated to the Company Stock Investment Option would otherwise result in a nonexempt short-swing transaction under
Section 16(b) of the Exchange Act, the date of distribution with respect to such portion to such Section 16 Person shall be delayed until the earliest date upon which the distribution either would not result in a nonexempt short-swing

  

 8 

 
transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. This Section 6 of Article VI shall apply, however, only to the extent that the
accelerated payment upon a conflict of interest determination conforms to Code section 409A. 
 7. Acceleration upon Change
in Control. 
 (a) Notwithstanding any other provision of this Supplemental Savings Plan, the Account Balance of each
Participant shall be distributed in a single lump sum within fifteen (15) calendar days following a “Change in Control.” 
 (b) For purposes of this Supplemental Savings Plan, a Change in Control shall include and be deemed to occur upon the following events: 
 (1) 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. 
 (2) 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). 
 (3) 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. 
 (4) 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).

 (5) 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. 
  

 9 

 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 VI unless the Change in Control is an event qualifying for a distribution of deferred compensation under both the definition of Change in Control in this
Plan and in Section 409A(a)(2)(A)(v) of the Code. 
 (c) Notwithstanding the provisions of Section 7(a), if a
distribution in accordance with the provisions of Section 7(a) would result in a nonexempt transaction under Section 16(b) of the Exchange Act with respect to any Section 16 Person, then the date of distribution to such
Section 16 Person shall be delayed until the earliest date upon which the distribution either would not result in a nonexempt transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. 
 (d) This Section 7 shall apply only to a Change in Control of Lockheed Martin Corporation and shall not cause immediate payout of an
Account Balance in any transaction involving the Company’s sale, liquidation, merger, or other disposition of any subsidiary. 
 (e) The Committee may cancel or modify this Section 7 at any time prior to a Change in Control. In the event of a Change in Control, this Section 7 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 7 shall not, for purposes of Section 7, be subject to cancellation or modification during the five year period. 
 8. Deductibility of Payments. Subject to the provisions of Code section 409A, in the event that the payment of benefits in accordance
with the Participant’s election under Section 3 of this Article VI 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 timing of
distributions from the Participant’s Account as necessary to maximize the Company’s tax deductions. In the exercise of its discretion to adopt a modified distribution schedule, the Committee shall undertake to have distributions made at
such times and in such amounts as most closely approximate the Participant’s election, consistent with the objective of maximum deductibility for the Company. The Committee shall have no authority to reduce a Participant’s Account Balance
or to pay aggregate benefits less than the Participant’s Account Balance in the event that all or a portion thereof would not be deductible by the Company. 
 9. Change of Law. Notwithstanding anything herein to the contrary, if the Committee determines in good faith, based on consultation with counsel and in accordance with the requirements of Code
section 409A, that the Federal income tax treatment or legal status of this Supplemental Savings Plan has or may be adversely affected by a change in the Internal Revenue 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 Accounts 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. 
  

 10 

 10. Tax Withholding. To the extent required by law, the Company shall withhold from
benefit payments hereunder, or with respect to any amounts credited to a Participant’s Account 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. However, the amount of Deferred Compensation or Matching Credits to be credited to a Participant’s Account will not be reduced or adjusted by the
amount of any tax that the Company is required to withhold with respect thereto. 
 ARTICLE VII 
 EXTENT OF PARTICIPANTS’ RIGHTS 
 1. Unfunded Status of Plan. This Supplemental Savings 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 Supplemental Savings Plan. Notwithstanding the foregoing, to assist
the Company in meeting its obligations under this Supplemental Savings Plan, the Company may set aside assets in a trust or trusts described in Revenue Procedure 92-64, 1992-2 C.B. 422 (generally known as a “rabbi trust”), and the Company
may direct that its obligations under this Supplemental Savings Plan be satisfied by payments out of such trust or trusts. It is the Company’s intention that this Supplemental Savings 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. Notwithstanding, any portion of a Participant’s benefit under this Plan may be paid to a spouse, former spouse, or child pursuant to the
terms of a domestic relations order (which shall be interpreted and administered in accordance with Code sections 414(p)(1)(B) and 409A), provided that the form of payment designated in such order is a lump sum payment described in Section 3(a)
of Article VI of this Plan. 
 ARTICLE VIII 
 AMENDMENT OR TERMINATION 
 1. Amendment. The Board or its authorized
delegate may amend, modify, suspend or discontinue this Supplemental Savings 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 Account Balance or postponing the time when a Participant is entitled to receive a distribution of his or her Account Balance. 
  

 11 

 2. Termination. The Board reserves the right to terminate this Plan at any time and
to pay all Participants their Account Balances in any form and at such times that the Board reasonably determines in its discretion is appropriate and conforms to the requirements of Code section 409A; provided, however, that if a distribution in
accordance with the provisions of this Section 2 would otherwise result in a nonexempt short-swing transaction under Section 16(b) of the Exchange Act, the date of distribution with respect to any Section 16 Person shall be delayed
until the earliest date upon which the distribution either would not result in a nonexempt transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. 
 ARTICLE IX 
 ADMINISTRATION 
 1. The Committee. This Supplemental Savings 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 and constituted so as to permit this Supplemental Savings Plan to comply with the requirements of Rule 16b-3 of the Exchange Act. 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 the Claims Administrator shall have full authority to interpret the Plan, and interpretations of the Plan by the Committee or the Claims Administrator shall be final and binding on all parties. 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 Supplemental Savings Plan in accordance with its terms and purpose,
except that the Committee has not delegated (and may not delegate) any authority the delegation of which would cause this Supplemental Savings Plan to fail to satisfy the applicable requirements of Rule 16b-3. In making any determination or in
taking or not taking any action under this Supplemental Savings 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 Supplemental Savings 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 Supplemental
Savings 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

  

 12 

 
this Supplemental Savings Plan or for the failure of the Supplemental Savings Plan or any Participant’s rights under the Supplemental Savings Plan to achieve intended tax consequences, to
qualify for exemption or relief under Section 16 of the Exchange Act and the rules thereunder, 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 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. 
  

 13 

 (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. 
 (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. 
  

 14 

 (f) The Claims Administrator shall be the Lockheed Martin Corporation Savings Plan
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 X 
 GENERAL AND MISCELLANEOUS PROVISIONS

 1. Neither this Supplemental Savings Plan nor a Participant’s Deferral Agreement, either singly or collectively,
shall in any way obligate the Company to continue the employment of a Participant with the Company, nor does either this Supplemental Savings Plan or a Deferral Agreement 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 or a Deferral Agreement, either singly or collectively, by their terms or implications constitute an employment contract of any nature whatsoever between the Company and a Participant. In no
event shall this Plan or a Deferral Agreement, either singly or collectively, by their terms or implications in any way limit the right of the Company to change an Eligible Employee’s compensation or other benefits. 
 2. Any amount credited to a Participant’s Account under this Supplemental Savings 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 the Senior Vice President, Human Resources. 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 Supplemental Savings Plan.

 5. By electing to become a Participant hereunder, each Eligible Employee shall be deemed conclusively to have accepted and
consented to all the terms of this Supplemental Savings Plan and all actions or decisions made by the Company, the Board, or Committee with regard to the Supplemental Savings Plan. 
 6. The provisions of this Supplemental Savings Plan and the Deferral Agreements hereunder 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. 
  

 15 

 7. A copy of this Supplemental Savings 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 Supplemental Savings 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 Supplemental Savings Plan and its operation, including but not limited to, the mechanics of deferral elections, the issuance of securities, if any, or the payment of cash hereunder is subject to
compliance with all applicable Federal and state laws, rules and regulations (including but not limited to state and Federal insider trading, registration, reporting and other securities laws) 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. 
 10. This Supplemental Savings Plan is intended to constitute an “excess benefit plan” within the meaning of Rule 16b-3(b)(2) under the Securities Exchange Act of 1934, and it shall be construed and applied accordingly. It is the
intent of the Company that this Supplemental Savings Plan satisfy and be interpreted in a manner, that, in the case of Participants who are or may be Section 16 Persons, satisfies any applicable requirements of Rule 16b-3 of the Exchange Act or
other exemptive rules under Section 16 of the Exchange Act and will not subject Section 16 Persons to short-swing profit liability thereunder. If any provision of this Supplemental Savings Plan would otherwise frustrate or conflict with
the intent expressed in this Section 10, that provision to the extent possible shall be interpreted and deemed amended so as to avoid such conflict. To the extent of any remaining irreconcilable conflict with this intent, the provision shall be
deemed disregarded. Similarly, any action or election by a Section 16 Person with respect to the Supplemental Savings Plan to the extent possible shall be interpreted and deemed amended so as to avoid liability under Section 16 or, if this
is not possible, to the extent necessary to avoid liability under Section 16, shall be deemed ineffective. Notwithstanding anything to the contrary in this Supplemental Savings Plan, the provisions of this Supplemental Savings Plan may at any
time be bifurcated by the Board or the Committee in any manner so that certain provisions of this Supplemental Savings Plan are applicable solely to Section 16 Persons. Notwithstanding any other provision of this Supplemental Savings Plan to
the contrary, if a distribution which would otherwise occur is prohibited or proposed to be delayed because of the provisions of Section 16 of the Exchange Act or the provisions of the Supplemental Savings Plan designed to ensure compliance
with Section 16, the Section 16 Person involved may affirmatively elect in writing to have the distribution occur in any event; provided that the Section 16 Person shall concurrently enter into arrangements satisfactory to the
Committee in its sole discretion for the satisfaction of any and all liabilities, costs and expenses arising from this election. 
  

 16 

 ARTICLE XI 
 EFFECTIVE DATE 
 This amendment and restatement of the
Supplemental Savings Plan shall generally become effective on November 1, 2009. Subsequent amendments to the Supplemental Savings Plan are effective as of the date stated in the amendment or the adopting resolution. 
  

 17 

 APPENDIX A 
 This Appendix A shall apply only to the portion of a Participant’s Account Balance (and any earnings or losses attributable to those
amounts) that was deferred and vested prior to January 1, 2005. This Appendix A shall not apply to the portion of a Participant’s Account Balance that is deferred or becomes vested on or after January 1, 2005 (and any earnings or
losses attributable to those amounts). 
 ARTICLE I 
 PURPOSES OF THE PLAN 
 The purposes of the Lockheed
Martin Corporation Supplemental Savings Plan (the “Supplemental Savings Plan”) are to provide certain key management employees of Lockheed Martin Corporation and its subsidiaries (the “Company”) the opportunity to defer
compensation that cannot be contributed under the Lockheed Martin Salaried Savings Program (the “Qualified Savings Plan”) because of the limitations of Code section 401(a)(17), 402(g), or 415(c)(1)(A), and to provide those employees with
matching credits equal to the matching contributions that would have been made by the Company on their behalf under the Qualified Savings Plan if the amounts deferred had been contributed to the Qualified Savings Plan. 
 ARTICLE II 
 DEFINITIONS 
 Unless the context indicates otherwise, the following words and phrases shall have the meanings
hereinafter indicated: 
 1. ACCOUNT — The bookkeeping account maintained by the Company for each Participant which is
credited with the Participant’s Deferred Compensation, Matching Credits, and earnings (or losses) attributable to the Investment Options selected by the Participant, and which is debited to reflect distributions. The portions of a
Participant’s Account allocated to different Investment Options will be accounted for separately. 
 2. ACCOUNT BALANCE
— The total amount credited to a Participant’s Account at any time, including the portions of the Account allocated to each Investment Option. 
 3. BENEFICIARY — The person or persons designated by the Participant as his or her beneficiary under the Qualified Savings Plan. 
 4. BOARD — The Board of Directors of Lockheed Martin Corporation. 
 5. CODE — The Internal Revenue Code of 1986, as amended. 
  

 18 

 6. COMMITTEE — The committee described in Section 1 of Article IX. 
 7. COMPANY — Lockheed Martin Corporation and its subsidiaries. 
 8. COMPANY STOCK INVESTMENT OPTION — The Investment Option under which the Participant’s Account is credited as if invested under
the investment option in the Qualified Savings Plan for the common stock of the Company. 
 9. COMPENSATION — An
employee’s base salary from the Company, as defined in the Qualified Savings Plan. 
 10. DEFERRAL AGREEMENT — The
written agreement executed by an Eligible Employee on the form provided by the Company under which the Eligible Employee elects to defer Compensation for a Year. 
 11. DEFERRED COMPENSATION — The amount of Compensation deferred and credited to a Participant’s Account under the Supplemental Savings Plan for a Year. 
 12. ELIGIBLE EMPLOYEE — A salaried employee who is eligible to participate in the Qualified Savings Plan as of the thirtieth
(30th) day preceding the last day on which a Deferral Agreement may be made for a Year, and whose annual rate of Compensation equals or exceeds $150,000 as of November 1 of the Year preceding the Year for which a Deferral Agreement is to
take effect, and who satisfies such additional requirements for participation in this Supplemental Savings Plan as the Committee may from time to time establish. In the exercise of its authority under this provision, the Committee shall limit
participation in the Plan to employees whom the Committee believes to be a select group of management or highly compensated employees within the meaning of Title I of the Employee Retirement Income Security Act of 1974, as amended. 
 13. EXCHANGE ACT — The Securities Exchange Act of 1934. 
 14. INVESTMENT OPTION — A measure of investment return pursuant to which Deferred Compensation credited to a Participant’s Account shall be further credited with earnings (or losses). The
Investment Options available under this Supplemental Savings Plan shall correspond to the investment options available under the Qualified Savings Plan. 
 15. MATCHING CREDIT — Any amount credited to a Participant’s Account under Article IV. 
 16. PARTICIPANT — An Eligible Employee for whom Compensation has been deferred under this Supplemental Savings Plan; the term shall include a former employee whose Account Balance has not been fully
distributed. 
 17. QUALIFIED SAVINGS PLAN — The Lockheed Martin Salaried Savings Plan or any successor plan. 

 

 19 

 18. SECTION 16 PERSON — A Participant who at the relevant time is subject to the
reporting and short-swing liability provisions of Section 16 of the Exchange Act. 
 19. SUPPLEMENTAL SAVINGS PLAN —
The Lockheed Martin Corporation Supplemental Savings Plan, which was originally adopted by the Board of Directors of Lockheed Corporation, effective January 1, 1984, as the Lockheed Corporation Supplemental Savings Plan, and which has been
amended and restated (and re-named) pursuant to action of the Board on July 25, 1996, and as further amended from time to time. 
 20. YEAR — The calendar year. 
 ARTICLE III 
 ELECTION OF DEFERRED AMOUNT 
 1. Timing of Deferral
Elections. An Eligible Employee may elect to defer Compensation for a Year by executing and delivering to the Company a Deferral Agreement no later than November 30 of the preceding Year. An Eligible Employee’s Deferral Agreement shall
be irrevocable when delivered to the Company and shall remain irrevocably in effect for all succeeding Years, except that the Deferral Agreement may be modified or revoked with respect to any succeeding year by the Eligible Employee’s execution
and delivery to the Company of a new or modified Deferral Agreement on or before November 30 of such succeeding Year. Notwithstanding the foregoing, deferral elections for the 1997 Year may be made as late as February 28, 1997, in
recognition of the fact that the right to enter into Deferral Agreements for the 1997 Year has generally been suspended pending the distribution of prospectuses for the Plan, as amended and restated; provided, however, no Deferral Agreement for the
1997 Year shall take effect, or apply to Compensation earned, before the date that the Eligible Employee’s Deferral Agreement is executed and delivered to the Company. 
 2. Amount of Deferred Compensation. Unless an Eligible Employee elects to make no deferral for a Year, the Eligible Employee’s
Deferred Compensation for a Year shall equal (i) his or her Compensation from the time when his or her Deferral Agreement takes effect during the Year (as elected under Section 3 of this Article III) until the last day of the Year,
multiplied by (ii) the percentage of Compensation that the Eligible Employee has elected to contribute to the Qualified Savings Plan (whether in the form of pre-tax salary reduction contributions, after-tax contributions, or a combination
thereof) for that Year. An Eligible Employee who has elected to make a deferral for a Year under this Supplemental Savings Plan shall be precluded from modifying his or her rate of contributions to the Qualified Savings Plan for that Year after the
date on which his or her Deferral Agreement for that Year (including any continuing Deferral Agreement) has become irrevocable under Section 1 of this Article III. 
 3. Time when Deferral Agreement Takes Effect. The Eligible Employee may elect to have his or her Deferral Agreement take effect after the occurrence of either of the following triggering events:

  

 20 

 (a) the Eligible Employee’s pre-tax salary reduction contributions
under the Qualified Savings Plan for the Year equal the applicable limit under Code section 402(g), or 
 (b) the
Compensation paid to the Eligible Employee for the Year equals the applicable compensation limit under Code section 401(a)(17), or, if earlier, the annual additions (within the meaning of Code section 415(c)(2)) of the Eligible Employee for the Year
under the Qualified Savings Plan and any other plan maintained by the Company equal the applicable limit under Code section 415(c)(1)(A). 
 An
Eligible Employee’s Deferral Agreement shall first take effect and apply to that portion of Compensation earned by the Eligible Employee for a particular payroll period that exceeds the amount at which, or with respect to which, the triggering
event occurs. 
 ARTICLE IV 
 MATCHING CREDITS 
 The Company shall credit to the Account of a Participant
as Matching Credits the same percentage of the Participant’s Deferred Compensation as it would have contributed as matching contributions to the Qualified Savings Plan if the amount of the Participant’s Deferred Compensation had been
contributed as pre-tax salary reduction or after-tax contributions to the Qualified Savings Plan. 
 ARTICLE V 

CREDITING OF ACCOUNTS 
 1. Crediting of Deferred Compensation. Deferred Compensation shall be credited to a Participant’s Account as of the day on which such amount would have been credited to the Participant’s
account under the Qualified Savings Plan if the Participant’s Deferred Compensation had been contributed as pre-tax salary reduction or after-tax contributions to the Qualified Savings Plan. 
 2. Crediting of Matching Credits. Matching Credits shall be credited to a Participant’s Account as of the day on which the
Deferred Compensation to which they relate are credited under Section 1. 
 3. Crediting of Earnings. Earnings (or
losses) shall be credited to a Participant’s Account based on the Investment Option or Options to which his or her Account has been allocated, beginning with the day as of which any amounts (or any reallocation of amounts) are credited to the
Participant’s Account. Any amount distributed from a Participant’s Account shall be credited with earnings (or losses) through the day on which the distribution is processed. The manner in which earnings (or losses) are credited under each
of the Investment Options shall be determined in the same manner as under the Qualified Savings Plan. 
  

 21 

 4. Selection of Investment Options. The amounts credited to a Participant’s
Account under this Supplemental Savings Plan shall be allocated among the Investment Options in the same percentages as the Participant’s account under the Qualified Savings Plan is allocated among those Investment Options. In the event that an
Account is maintained for a Participant under this Supplemental Savings Plan at a time when an account is no longer maintained for the Participant under the Qualified Savings Plan, the Participant may allocate and reallocate his or her Account
Balance among the Investment Options in accordance with the procedures and limitations on allocations and reallocations under the Qualified Savings Plan. 
 ARTICLE VI 
 PAYMENT OF BENEFITS 
 1. General. The Company’s liability to pay benefits to a Participant or Beneficiary under this Supplemental Savings Plan shall
be measured by and shall in no event exceed the Participant’s Account Balance, which shall be fully vested and nonforfeitable at all times. All benefit payments shall be made in cash and, except as otherwise provided, shall reduce allocations
to the Investment Options in the same proportions that the Participant’s Account Balance is allocated among those Investment Options. 
 2. Commencement of Payment. The payment of benefits to a Participant shall commence as soon as administratively feasible following the Participant’s termination of employment with the Company
and his or her entitlement to commence receiving benefits under the Qualified Savings Plan. 
 3. Form of Payment. At the
time an Eligible Employee first completes a Deferral Agreement, he or she shall irrevocably elect the form of payment of his or her Account Balance from among the following options: 
  

	 	(a)	A lump sum. 

  

	 	(b)	Annual payments for a period of 5, 10, 15, or 20 years, as designated by the Participant. The amount of each annual payment shall be determined by dividing the
Participant’s Account Balance on the date such payment is processed by the number of years remaining in the designated installment period. The installment period may be shortened, in the sole discretion of the Committee, if the Committee at any
time determines that the amount of the annual payments that would be made to the Participant during the designated installment period would be too small to justify the maintenance of the Participant’s Account and the processing of payments.

 4. Prospective Change of Payment Election. The Committee may, in its discretion, permit a Participant to
modify his or her payment election under Section 3 of this Article VI at the time the Participant enters into a Deferral Agreement for a Year; if accepted, any such

  

 22 

 
modification shall apply to all amounts credited to the Participant’s Account under this Supplemental Savings Plan. No such modification will be effective if made within one year of the date
of the Participant’s termination of employment. 
 5. Death Benefits. Upon the death of a Participant before a
complete distribution of his or her Account Balance, the Account Balance will be paid to the Participant’s Beneficiary in an immediate lump sum. 
 6. Acceleration Upon Conflict of Interest. Notwithstanding a Participant’s form of payment election under Section 3 of this Article VI, if following a Participant’s termination of
employment with the Company, the Participant takes a position (or accepts a position) with a governmental entity, agency, or instrumentality and that employer has determined or indicated that the Participant’s continued participation in the
Plan may constitute a conflict of interest precluding the Participant from continuing in his position (or from accepting an offered position) with that employer or subjecting the Participant to penalty, sanction, or otherwise limiting the
Participant’s responsibilities for that employer, then the Participant’s Account Balance shall be distributed to him or her in a lump sum as soon as practical following the later of (i) the date on which the Participant commences
employment with the government employer; or (ii) the date on which it is determined that the conflict of interest may exist. 
 7. Acceleration upon Change in Control. 
 (a) Notwithstanding any other provision of this
Supplemental Savings Plan, the Account Balance of each Participant shall be distributed in a single lump sum within fifteen (15) calendar days following a “Change in Control.” 
 (b) For purposes of this Supplemental Savings Plan, a Change in Control shall include and be deemed to occur upon the
following events: 
 (1) 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. 
 (2) 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). 
 (3) 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

  

 23 

 
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. 
 (4) 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). 
 (5) 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. 
 (c) Notwithstanding the provisions of Section 7(a), if a distribution in accordance with the provisions of
Section 7(a) would result in a nonexempt transaction under Section 16(b) of the Exchange Act with respect to any Section 16 Person, then the date of distribution to such Section 16 Person shall be delayed until the earliest date
upon which the distribution either would not result in a nonexempt transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. 
 (d) This Section 7 shall apply only to a Change in Control of Lockheed Martin Corporation and shall not cause immediate
payout of an Account Balance in any transaction involving the Company’s sale, liquidation, merger, or other disposition of any subsidiary. 
 (e) The Committee may cancel or modify this Section 7 at any time prior to a Change in Control. In the event of a Change in Control, this Section 6 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 7 shall not, for purposes of Section 7, be subject to cancellation or modification during the five year period. 
 8. Deductibility of Payments. In the event that the payment of benefits in accordance with the Participant’s election under
Section 3 of this Article VI 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 timing of distributions from the Participant’s
Account as necessary to maximize the Company’s tax deductions. In the exercise of its discretion to adopt a modified distribution schedule, the Committee shall undertake to have distributions made at such times and in such amounts as most
closely approximate the

  

 24 

 
Participant’s election, consistent with the objective of maximum deductibility for the Company. The Committee shall have no authority to reduce a Participant’s Account Balance or to pay
aggregate benefits less than the Participant’s Account Balance in the event that all or a portion thereof would not be deductible by the Company. 
 9. 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 Supplemental Savings Plan has or may be adversely affected by a change in the Internal Revenue 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 Accounts 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. 
 10. Tax
Withholding. To the extent required by law, the Company shall withhold from benefit payments hereunder, or with respect to any amounts credited to a Participant’s Account 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. However, the amount of Deferred Compensation or Matching Credits to be
credited to a Participant’s Account will not be reduced or adjusted by the amount of any tax that the Company is required to withhold with respect thereto. 
 ARTICLE VII 
 EXTENT OF PARTICIPANTS’ RIGHTS 
 1. Unfunded Status of Plan. This Supplemental Savings 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
Supplemental Savings Plan. Notwithstanding the foregoing, to assist the Company in meeting its obligations under this Supplemental Savings Plan, the Company may set aside assets in a trust or trusts described in Revenue Procedure 92-64, 1992-2 C.B.
422 (generally known as a “rabbi trust”), and the Company may direct that its obligations under this Supplemental Savings Plan be satisfied by payments out of such trust or trusts. It is the Company’s intention that this Supplemental
Savings 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 to benefit payments under this Supplemental Savings Plan shall not be subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, attachment, or garnishment by creditors of the Participant or the Participant’s Beneficiary. 
  

 25 

 ARTICLE VIII 
 AMENDMENT OR TERMINATION 
 1. Amendment. The
Board or its authorized delegate may amend, modify, suspend or discontinue this Supplemental Savings 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 Account Balance or postponing the time when a Participant is entitled to receive a distribution of his or her Account Balance. 
 2. Termination. The Board reserves the right to terminate this Supplemental Savings Plan at any time and to pay all Participants their Account Balances in a lump sum immediately following such
termination or at such time thereafter as the Board may determine; provided, however, that if a distribution in accordance with the provisions of this Section 2 would otherwise result in a nonexempt transaction under Section 16(b) of the
Exchange Act, the date of distribution with respect to any Section 16 Person shall be delayed until the earliest date upon which the distribution either would not result in a nonexempt transaction or would otherwise not result in liability
under Section 16(b) of the Exchange Act. 
 ARTICLE IX 
 ADMINISTRATION 
 1. The Committee. This
Supplemental Savings Plan shall be administered by the Compensation Committee of the Board or such other committee of the Board as may be designated by the Board and constituted so as to permit this Supplemental Savings Plan to comply with the
requirements of Rule 16b-3 of the Exchange Act. 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 the Claims Administrator shall have full authority to interpret the Plan, and interpretations of the Plan by the Committee or Claims Administrator
shall be final and binding on all parties. 
 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 Supplemental
Savings Plan in accordance with its terms and purpose, except that the Committee may not delegate any authority the delegation of which would cause this Supplemental Savings Plan to fail to satisfy the applicable requirements of Rule 16b-3. In
making any determination or in taking or not taking any action under this Supplemental Savings Plan, the Committee 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

  

 26 

 
specifically relating to his or her individual rights or benefits under the Supplemental Savings 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 Supplemental
Savings 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 Supplemental Savings Plan or for the failure of the Supplemental Savings
Plan or any Participant’s rights under the Supplemental Savings Plan to achieve intended tax consequences, to qualify for exemption or relief under Section 16 of the Exchange Act and the rules thereunder, 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 denied by the Claims Administrator are as follows: 
  

	 	(A)	The Claims Administrator shall: 

  

	 	(i)	notify the claimant within a reasonable time of such denial, setting forth the specific reasons therefore; and 

  

	 	(ii)	afford the claimant a reasonable opportunity for a review of the decision. 

  

	 	(B)	The notice of such denial shall set forth, in addition to the specific reasons for the denial, the following: 

  

	 	(i)	identification of pertinent provisions of this Plan; 

  

	 	(ii)	such additional information as may be relevant to the denial of the claim; and 

  

 27 

	 	(iii)	an explanation of the claims review procedure and advice that the claimant may request an opportunity to submit a statement of issues and comments.

  

	 	(C)	Within sixty days following advice of denial of a claim, upon request made by the claimant, the Claims Administrator shall take appropriate steps to review its decision
in light of any further information or comments submitted by the claimant. The Claims Administrator may hold a hearing at which the claimant may present the basis of any claim for review. 

  

	 	(D)	The Claims Administrator shall render a decision within a reasonable time (not to exceed 120 days) after the claimant’s request for review and shall advise the
claimant in writing of its decision, specifying the reasons and identifying the appropriate provisions of the Plan. 

  

	 	(E)	The Claims Administrator shall be the Lockheed Martin Corporation Savings Plan 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
X 
 GENERAL AND MISCELLANEOUS PROVISIONS 
 1. Neither this Supplemental Savings Plan nor a Participant’s Deferral Agreement, either singly or collectively, shall in any way
obligate the Company to continue the employment of a Participant with the Company, nor does either this Supplemental Savings Plan or a Deferral Agreement 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 or a Deferral Agreement, either singly or collectively, by their terms or implications constitute an employment contract of any nature whatsoever between the Company and a Participant. In no
event shall this Plan or a Plan Agreement, either singly or collectively, by their terms or implications in any way limit the right of the Company to change an Eligible Employee’s compensation or other benefits. 
 2. Any amount credited to a Participant’s Account under this Supplemental Savings 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 the Vice President, Human Resources. Any written notice to a Participant shall be made by delivery to the Participant in person, through electronic

  

 28 

 
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 Supplemental Savings Plan. 
 5. By electing to become
a Participant hereunder, each Eligible Employee shall be deemed conclusively to have accepted and consented to all the terms of this Supplemental Savings Plan and all actions or decisions made by the Company, the Board, or Committee with regard to
the Supplemental Savings Plan. 
 6. The provisions of this Supplemental Savings Plan and the Deferral Agreements hereunder
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 Supplemental Savings 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 Supplemental Savings 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 Supplemental
Savings Plan and its operation, including but not limited to, the mechanics of deferral elections, the issuance of securities, if any, or the payment of cash hereunder is subject to compliance with all applicable Federal and state laws, rules and
regulations (including but not limited to state and Federal insider trading, registration, reporting and other securities laws) 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. 
 10. This Supplemental Savings Plan is intended to constitute an
“excess benefit plan” within the meaning of Rule 16b-3(b)(2) under the Securities Exchange Act of 1934, and it shall be construed and applied accordingly. It is the intent of the Company that this Supplemental Savings Plan satisfy and be
interpreted in a manner, that, in the case of Participants who are or may be Section 16 Persons, satisfies any applicable requirements of Rule 16b-3 of the Exchange Act or other exemptive rules under Section 16 of the Exchange Act and will
not subject Section 16 Persons to short-swing profit liability thereunder. If any provision of this Supplemental Savings Plan would otherwise frustrate or conflict with the intent expressed in this Section 10, that provision to the extent
possible shall be interpreted and deemed amended so as to avoid such conflict. To the extent of any remaining irreconcilable conflict with this intent, the

  

 29 

 
provision shall be deemed disregarded. Similarly, any action or election by a Section 16 Person with respect to the Supplemental Savings Plan to the extent possible shall be interpreted and
deemed amended so as to avoid liability under Section 16 or, if this is not possible, to the extent necessary to avoid liability under Section 16, shall be deemed ineffective. Notwithstanding anything to the contrary in this Supplemental
Savings Plan, the provisions of this Supplemental Savings Plan may at any time be bifurcated by the Board or the Committee in any manner so that certain provisions of this Supplemental Savings Plan are applicable solely to Section 16 Persons.
Notwithstanding any other provision of this Supplemental Savings Plan to the contrary, if a distribution which would otherwise occur is prohibited or proposed to be delayed because of the provisions of Section 16 of the Exchange Act or the
provisions of the Supplemental Savings Plan designed to ensure compliance with Section 16, the Section 16 Person involved may affirmatively elect in writing to have the distribution occur in any event; provided that the Section 16
Person shall concurrently enter into arrangements satisfactory to the Committee in its sole discretion for the satisfaction of any and all liabilities, costs and expenses arising from this election. 
 ARTICLE XI 
 EFFECTIVE DATE 
 This amendment and restatement of the Supplemental Savings Plan shall generally become
effective on January 1, 1997. Subsequent amendments to the Supplemental Savings Plan are effective as of the date stated in the amendment or the adopting resolution. 
  

 30

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00169-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00169-of-00352.parquet"}]]