Document:

Exhibit 10.14

 Exhibit 10.14 
 This document constitutes part of a prospectus covering securities that have been registered under the Securities Act of 1933. 
 LOCKHEED MARTIN CORPORATION 
 DEFERRED MANAGEMENT INCENTIVE

 COMPENSATION PLAN 
 (As Amended and Restated Effective January 26, 2012) 
 ARTICLE I

 PURPOSES OF THE PLAN 
 The purposes of the Lockheed Martin Corporation Deferred Management Incentive Compensation Plan (the “Deferral Plan”) are to provide certain key management employees of Lockheed Martin
Corporation and its subsidiaries (the “Company”) the opportunity to defer receipt of (i) Incentive Compensation awards under the Lockheed Martin Corporation Management Incentive Compensation Plan (the “MICP”); (ii) Long
Term Incentive Award payments under the Lockheed Martin Corporation 1995 Omnibus Performance Award Plan (the “Omnibus Plan”) and the Lockheed Martin Corporation Amended and Restated 2003 Incentive Performance Award Plan (the “IPA
Plan”); and (iii) certain benefits payable under the Lockheed Martin Corporation Post-Retirement Death Benefit Plan for Elected Officers (“Death Benefit Plan”). Providing this opportunity to defer income under the Deferral Plan
will encourage key employees to maintain a financial interest in the Company’s performance. Except as expressly provided hereinafter, the provisions of this Deferral Plan and the MICP, the Omnibus Plan, the IPA Plan, and the Death Benefit Plan
shall be construed and applied independently of each other. 
 The Deferral Plan applies solely to MICP awards, Long Term
Incentive Award payments under the Omnibus Plan and the IPA Plan, and certain payments under the Death Benefit Plan, and expressly does not apply to any special awards which may be made under any of the Company’s other incentive plans, except
and to the extent specifically provided under the terms of such other incentive plans and the relevant awards. 
 The Deferral
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 Deferral Plan applied only to the portion of a Participant’s Account Balance
that is earned or becomes vested on or after January 1, 2005 (and any earnings or losses attributable to that portion). The portion of a Participant’s Account Balance that was earned and vested prior to January 1, 2005 (and any
earnings or losses attributable to that portion) shall be governed by the terms of the Deferral Plan in effect on December 31, 2004, which is attached hereto as Appendix A. The Deferral Plan was subsequently amended and restated, effective
January 1, 2007, to permit eligible executives of the Company to defer payments that are available to them pursuant to the partial termination of the Death Benefit Plan. 

 The Deferral Plan was amended and restated, effective January 1, 2008 to modify the
annual installment payment option to conform to other nonqualified plans maintained by the Company. The Deferral Plan and Appendix A were further amended and restated, effective January 1, 2008, to provide for new investment options in which
Participants may invest their Account Balances, whether earned and vested before or after January 1, 2005. The addition of the new investment option in Appendix A is not intended to constitute a material modification within the meaning of Code
section 409A. 
 The Deferral Plan was amended and restated, effective June 26, 2008, to clarify certain provisions in
accordance with the final Treasury regulations issued under Code section 409A, and to make other administrative changes. The Deferral Plan was amended and restated, effective December 31, 2008, to clarify additional provisions in accordance
with the final Treasury regulations issued under Code section 409A and to make other administrative clarifications. The Deferral Plan was amended and restated, effective February 26, 2009, to prospectively eliminate an investment option and
change the number of available installment payments. 
 The Deferral Plan was amended and restated, effective December 31,
2010, to clarify additional provisions in accordance with the final Treasury regulations issued under Code section 409A and to make other administrative clarifications. The Deferral Plan was amended and restated, effective October 25, 2011, to
reflect changes to the administrative requirements for Company Deferrals for certain Long Term Incentive Awards issued in 2011 and later years and to permit participants in the Sandia National Laboratories, Inc. Long Term Incentive Performance Award
Plan to defer cash awards to the Deferral Plan. The Deferral Plan is hereby amended and restated to permit participants in the Applied NanoStructured Solutions, LLC Management Incentive Compensation Plan to defer cash awards to the Deferral 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 and earnings (or losses) attributable to the investment options selected by the Participant, and which is debited to reflect distributions and
forfeitures; the portions of a Participant’s Account allocated to different investment options and the portions attributable to the deferral of Incentive Compensation awards, Long Term Incentive Award payments, and Death Benefit payments will
be accounted for separately. 
 2. ACCOUNT BALANCE — The total amount credited to a Participant’s Account at any point
in time, including the portions of the Account allocated to each investment option. 

  
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 3. AWARD YEAR — As to Incentive Compensation, the calendar year with respect to which
an Eligible Employee is awarded Incentive Compensation; as to a Long Term Incentive Award payment and the related Company Deferral, the first calendar year in the Performance Period for which the Long Term Incentive Award is effective with respect
to an Eligible Employee. 
 4. BENEFICIARY — The person or persons (including a trust or trusts) validly designated by a
Participant, on the form provided by the Company, to receive distributions of the Participant’s Account Balance, if any, upon the Participant’s death. In the absence of a valid designation, or if the designated Beneficiary has predeceased
the Participant, the Participant’s Beneficiary shall be the personal representative of the Participant’s estate in the event of a Participant’s death. A Participant may amend his or her Beneficiary designation at any time before the
Participant’s death. 
 5. BOARD — The Board of Directors of Lockheed Martin Corporation. 

6. CODE — the Internal Revenue Code of 1986, as amended from time to time, including the regulations and guidance of general
applicability thereunder. 
 7. COMMITTEE — The committee described in Section 1 of Article VIII. 

8. COMMON STOCK — The $1.00 par value common stock of the Company. 

9. COMPANY — Lockheed Martin Corporation and its Subsidiaries. 

10. COMPANY DEFERRALS — The amount deferred by the Company, and not at the election of the Participant, for a two-year (one-year, if
applicable) period following the end of a Performance Period for a Long Term Incentive Award. 
 11. COMPANY STOCK INVESTMENT
OPTION — The investment option under which the amount credited to a Participant’s Account will be based on the market value and investment return of the Company’s Common Stock. 

12. DEATH BENEFIT — The amount payable to an Eligible Employee pursuant to Article X, Section 1 of the Death Benefit Plan.

 13. DEATH BENEFIT PLAN — The Lockheed Martin Corporation Post-Retirement Death Benefit Plan for Elected Officers.

 14. 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 Incentive Compensation for an Award Year, a Long Term Incentive Award and any related Company Deferral for an Award Year, or a Death Benefit payable pursuant to the Death Benefit Plan. 

  
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 15. DEFERRAL PLAN — The Lockheed Martin Corporation Deferred Management Incentive
Compensation Plan, adopted by the Board on July 27, 1995, and as amended from time to time. 
 16. DEFERRED COMPENSATION
— The amount of Incentive Compensation credited to a Participant’s Account under the Deferral Plan, the amount of any Long Term Incentive Award payment credited to a Participant’s Account under the Deferral Plan (other than Company
Deferrals), and the amount of the Death Benefit payment credited to a Participant’s Account under the Deferral Plan. 
 17.
ELIGIBLE EMPLOYEE — An employee of the Company who is a participant in the MICP, who receives a Long Term Incentive Award under the Omnibus Plan, the IPA Plan, or the Sandia National Laboratories, Inc. Long Term Performance Award Plan, or who
is eligible to receive a Death Benefit under the Death Benefit Plan, and who has satisfied such additional requirements for participation in this Deferral 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. 
 18. EXCHANGE ACT — The Securities Exchange Act of 1934. 

19. INCENTIVE COMPENSATION — The MICP amount granted to an employee for an Award Year. 

20 IPA PLAN — The Lockheed Martin Corporation Amended and Restated 2003 Incentive Performance Award Plan. 

21. INTEREST OPTION — The investment option under which earnings will be credited to a Participant’s Account based on the
interest rate applicable under Cost Accounting Standard 415, Deferred Compensation. 
 22. INVESTMENT FUND OPTION — The
investment option under which earnings will be credited to a Participant’s Account based on the market value and investment return of the investment options (including target date funds and core funds (and successor funds), and excluding the
Company Stock Fund, ESOP Fund, and Self-Managed Account) that are available to participants pursuant to the terms of the Qualified Savings Plan, provided that the Committee retains the discretion to add certain funds to, or to exclude certain funds
from, the Investment Fund Option. 
 23. LONG TERM INCENTIVE AWARD — A long term incentive performance award granted to an
employee under the Omnibus Plan, the IPA Plan, or the Sandia National Laboratories, Inc. Long Term Incentive Award Plan. 
 24.
MICP — The Lockheed Martin Corporation Management Incentive Compensation Plan, the 2006 Lockheed Martin Corporation Management Incentive Compensation Plan (for incentive compensation awarded after February 1, 2006), or the Applied
NanoStructured Solutions, LLC Management Incentive Compensation Plan (beginning with the 2012 Award Year). 

  
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 25. OMNIBUS PLAN — The Lockheed Martin Corporation 1995 Omnibus Performance Award Plan.

 26. PARTICIPANT — An Eligible Employee for whom Incentive Compensation, a Long Term Incentive Award payment, or a Death
Benefit payment has been deferred for one or more years under this Deferral Plan; the term shall include a former employee whose Deferred Compensation has not been fully distributed. 

27. PAYMENT DATE — As to any Participant, the January 15 or July 15 on or about on which payment to the Participant is to
be made or to begin in accordance with Article V. 
 28. PERFORMANCE PERIOD — The period set forth in a Long Term Incentive
Award over which the Company’s performance is measured by reference to total stockholder return to determine whether any payment will be made under such Long Term Incentive Award. 

29. QUALIFIED SAVINGS PLAN — The Lockheed Martin Corporation Salaried Savings Plan or any successor plan. 

30. SECTION 16 PERSON — A Participant who is subject to the reporting and short-swing liability provisions of Section 16 of the
Securities Exchange Act of 1934 on the date a Deferral Agreement or other election form is delivered to the Company in accordance with the terms of this Deferral Plan. 
 31. SPECIFIED EMPLOYEE — A Participant who is reasonably determined to a be a “specified employee” within the meaning of Code section 409A(2)(B)(i) as of December 31 of a calendar year
and who shall be treated as such for the 12-month period beginning the next April 1 and for twelve calendar months thereafter. 
 32. 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. 

32A. TERMINATION OF EMPLOYMENT — A separation from service as such term is defined in Code section 409A and the regulations
thereunder. 
 33. TRADING DAY — A day upon which transactions with respect to Company Common Stock are reported in the
consolidated transaction reporting system. 

  
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 ARTICLE III 
 ELECTION OF DEFERRED AMOUNT 
 1. Timing of Deferral Elections.

 (a) Incentive Compensation. An Eligible Employee may elect to defer Incentive Compensation for an Award
Year by executing and delivering to the Company a Deferral Agreement no later than June 30 of the Award Year. 
 (b) Long Term Incentive Awards and Company Deferrals. An Eligible Employee may elect to defer the payment of a Long Term Incentive Award and a Company Deferral for an Award Year by executing and
delivering to the Company a Deferral Agreement as of a date specified by the Senior Vice President, Human Resources, which shall be no later than six months prior to the end of the Performance Period. 

(c) Irrevocability of Elections. No Eligible Employee shall have the right to modify or revoke a Deferral Agreement
after the applicable deadline described in Section 1(a), Section 1(b), or Section 1(d) of this Article III for delivering a Deferral Agreement to the Company, provided no Section 16 Person shall have the right to modify or revoke
a Deferral Agreement after such applicable deadline or, if earlier, after the date the agreement has been delivered to the Company. The Senior Vice President, Human Resources may establish policies and procedures to determine when a Deferral
Agreement or other election called for under this Plan has been delivered to the Company. Each Deferral Agreement that relates to an Award Year shall apply only to amounts deferred in that Award Year, and a separate Deferral Agreement must be
completed for each Award Year for which an Eligible Employee defers Incentive Compensation or a Long Term Incentive Award. A Deferral Agreement relating to a Death Benefit payment shall relate only to such Death Benefit payment. 

(d) Death Benefit. An Eligible Employee may elect to defer a Death Benefit payable under the Death Benefit Plan by
executing and delivering to the Company a Deferral Agreement no later than the date specified by the Senior Vice President, Human Resources in accordance with Code section 409A. 

2. Amount of Deferral Elections. An Eligible Employee’s deferral election may be stated as: 

(a) a dollar amount which is at least $5,000 and is an even multiple of $1,000; 

(b) the greater of $5,000 or a designated percentage of the Eligible Employee’s Incentive Compensation, Long Term
Incentive Award payment, or Death Benefit payment; 

  
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 (c) the excess of the Eligible Employee’s Incentive Compensation, Long
Term Incentive Award payment, or Death Benefit payment over a dollar amount specified by the Eligible Employee; or 
 (d) all of the Eligible Employee’s Incentive Compensation, Long Term Incentive Award payment, or Death Benefit payment. 
 In the case of a deferral election under paragraph (c) of this Section 2, an Eligible Employee’s deferral election shall be effective only if the resulting excess amount is at least $5,000.

 3. Effect of Taxes on Deferred Compensation. The amount that would otherwise be deferred and credited to an Eligible
Employee’s Account will be reduced by the amount of any tax that the Company is required to withhold with respect to the Deferred Compensation. The reduction for taxes shall be made proportionately out of amounts otherwise allocable to the
Interest Option, the Company Stock Investment Option, or the Investment Fund Option. 
 4. Multiple Awards. In the case
of an Eligible Employee who receives more than one Long Term Incentive Award with respect to the same Performance Period, the elections made by the Eligible Employee under this Article III as well as under Articles V and VI for the first Long Term
Incentive Award granted to the Eligible Employee with respect to a Performance Period shall be deemed to be the elections made by that Eligible Employee for any other Long Term Incentive Awards granted to that Eligible Employee with respect to that
same Performance Period. 
 5. Company Deferrals. Pursuant to the terms of certain Long Term Incentive Awards issued
under the Omnibus Plan or the IPA Plan, 50% of the amount payable at the end of the Performance Period will be automatically deferred until the second anniversary (or first anniversary, if applicable) of the last day of the Performance Period with
respect to a particular award. The Company may establish an account for Company Deferrals under the Company Stock Investment Option of this Deferral Plan. However, the terms governing the Company Deferrals will be governed for the two year (one
year, if applicable) period of deferral by the terms of the award agreement entered into under the Omnibus Plan or the IPA Plan with respect to the Long Term Incentive Award and not by this Deferral Plan except to the extent the award agreement
expressly refers to the terms of this Deferral Plan. Notwithstanding the foregoing, if the Participant elects to defer the Company Deferrals beyond the second (or first, if applicable) anniversary of the end of the Performance Period, the deferrals
will be treated as made under this Deferral Plan for the period following the second (or first, if applicable) anniversary of the end of the Performance Period. 
 ARTICLE IV 
 CREDITING OF ACCOUNTS 

1. Crediting of Deferred Compensation. Incentive Compensation or a Long Term Incentive Award payment, that a Participant has
elected to defer under this Deferral Plan shall be credited to the Participant’s Account as of the Trading Day set by action of the 

  
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Committee or, if the Committee does not act to set such a day, on the second Trading Day which follows the date of approval of the related Incentive Compensation or Long Term Incentive Award
payment (other than Company Deferrals). A Death Benefit payment that a Participant has elected to defer under this Deferral Plan shall be credited to the Participant’s Account as of the date on which the amount of the Death Benefit payment was
determined and paid to eligible employees absent any election to defer. If the Company establishes an account for Company Deferrals pursuant to Section 5 of Article III, the Company Deferrals shall be credited to such account as of the last
Trading Day in the Performance Period. Any Deferred Compensation credits under this Section 1 which are allocable to the Interest Option shall be credited at the dollar amount of such credits. Any Deferred Compensation and Company Deferral
credits under this Section 1 which are allocable to the Company Stock Investment Option shall be credited as if the dollar amount of credits had been invested in the Company’s Common Stock at the published closing price of the
Company’s Common Stock on the applicable Trading Day described in this Section 1. Any Deferred Compensation and Company Deferral credits under this Section 1 which are allocable to the Investment Fund Option shall be credited as if
the dollar amount of credits had been invested in the applicable fund at the published closing price of the applicable fund on the applicable Trading Day described in this Section 1. 

2. Crediting of Earnings. 
 (a) General Rules. 
 (i) Earnings (or losses) shall be
credited to a Participant’s Account based on the investment option or options to which the Account has been allocated beginning with the applicable Trading Day described in this Article IV. 

(ii) Any amount distributed from a Participant’s Account in cash pursuant to Article V shall be credited with
earnings (or losses) through the Trading Day that is four (4) business days prior to the date on which a distribution is to be made. Any amount distributed from a Participant’s Account in stock pursuant to Article V shall be credited with
earnings (or losses) through the last Trading Day preceding the date on which a distribution is to be made. 

(iii) Company Deferrals shall be credited with earnings (or losses) through the last Trading Day in the period which ends
on the second anniversary (first anniversary, if applicable) of the end of the applicable Performance Period unless deferred further pursuant to a Deferral Agreement. 

(b) Interest Option. The portion of a Participant’s Account allocated or reallocated to the Interest Option
shall be credited with interest, valued daily, while so allocated or reallocated at a rate equivalent to the then published rate for computing the present value of future benefits at the time cost is assignable under Cost Accounting Standard 415,
Deferred Compensation, as determined by the Secretary of the Treasury on a semi-annual basis pursuant to Pub. L. 92-41, 85 Stat. 97. Effective with respect to amounts deferred on or after February 26, 2009, no Incentive Compensation may be
invested in the Interest Option. Amounts deferred prior to February 26, 2009 may remain invested in the Interest Option 

  
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until such amounts are transferred to the Company Stock Investment Option or the Investment Fund Option on or after July 1, 2009. No amounts may be credited or reallocated to the Interest
Option on or after July 1, 2009. 
 (c) Company Stock Investment Option. 

(i) The portion of a Participant’s Account allocated to the Company Stock Investment Option shall be credited when so
allocated on the applicable Trading Day described in this Article IV as if such amount had been invested in the Company’s Common Stock at the published closing price of the Company’s Common Stock on such Trading Day. 

(ii) The portion of the Participant’s Account Balance allocated to the Company Stock Investment Option shall reflect
any post-allocation appreciation or depreciation in the market value of the Company’s Common Stock based on the published closing price of the stock on each Trading Day and shall reflect dividends paid and any other distributions made with
respect to the Company’s Common Stock. 
 (iii) Cash dividends shall be treated as if such dividends had
been reinvested in the Company’s Common Stock at the published closing price of the Company’s Common Stock on the Trading Day on which the cash dividend is paid or, if the dividend is paid on a day which is not a Trading Day, on the
Trading Day which immediately precedes the day the dividend is paid. 
 (d) Investment Fund Option.
Earnings (or losses) shall be credited to a Participant’s Account based on the investment option or options within the Investment Fund Option to which his or her Account has been allocated. 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. The procedures for directing the allocation and reallocation among the investment options in the Investment Fund Option shall be the
same as the procedures for making allocations under the Qualified Savings Plan. 
 3. Election of Investment Options. A
Participant’s initial investment elections for a particular type of award for an Award Year or a Death Benefit shall be made in his or her Deferral Agreement for such Award Year or Death Benefit, and no Participant shall have the right to
modify or revoke any such election after the time the Participant no longer has the right to make or revoke a Deferral Agreement under Section 1 of Article II. A Participant’s allocations between investment options shall be subject to such
minimum allocations as the Committee may establish. In the event a Participant fails to specify an investment election in his or her Deferral Agreement, the amount subject to that Deferral Agreement shall be deemed allocated to the Interest Option
for amounts credited before December 31, 2008 and to the default option designated under the Qualified Savings Plan for amounts credited on or after December 31, 2008. 

  
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 4. Reallocation Among Investment Options. Effective June 16, 2008, a
Participant may reallocate the portion of his Account Balance that is invested in the Interest Option and the Investment Fund Option to the Interest Option (through June 30, 2009), the Company Stock Investment Option, and the various investment
funds in the Investment Fund Option, subject to the trading restrictions that apply to the transfer and reallocation of investments under the terms of the Qualified Savings Plan, applied as if such Qualified Savings Plan restrictions also pertain to
the Interest Option; provided that a Participant may not at any time reallocate the portion of his Account Balance that has been invested at any time in the Company Stock Investment Option. Notwithstanding the foregoing, any election by a
Section 16 Person to reallocate any portion of his Account Balance to the Company Stock Investment Option shall only become effective if the election is made at least six months following the most recent election with respect to any plan of the
Corporation that involved the disposition of the Corporation’s equity securities pursuant to a “Discretionary Transaction” (as defined in Exchange Act Rule 16b-3). No amounts may be credited or reallocated to the Interest Option on or
after July 1, 2009. 
 ARTICLE V 
 PAYMENT OF BENEFITS 
 1. General. 

(a) Account Balance and Elections. The Company’s liability to pay benefits to a Participant or Beneficiary
under this Deferral Plan shall be measured by and shall in no event exceed the Participant’s Account Balance. Except as otherwise provided in this Deferral Plan (including but not limited to Section 5 of Article III with respect to Company
Deferrals), a Participant’s Account Balance shall be paid to him in accordance with the Participant’s elections under this Article V. 
 (b) Cash and Stock Payments. All benefit payments shall be made in cash to the extent a Participant’s Account is allocated to the Interest Option or Investment Fund Option or is attributable
to Company Deferrals and shall be made in whole shares of the Company’s Common Stock to the extent that a Participant’s Account is allocated to the Company Stock Investment Option (other than with respect to Company Deferrals) and, except
as otherwise provided, shall reduce allocations to the Interest Option, Investment Fund Option, and the Company Stock Investment Option in the same proportions that the Participant’s Account Balance is allocated between those investment options
at the end of the month preceding the date of distribution. Notwithstanding the foregoing, no amount of Deferred Compensation attributable to the Company Stock Investment Option shall be distributed to a Section 16 Person under this Deferral
Plan unless such amount was allocated to the Company Stock Investment Option in accordance with Section 1 of Article IV at least six months prior to the date of distribution. At the Company’s discretion a distribution of Common Stock may

  
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be made directly to a Participant or to a brokerage account opened in the name of the Participant. When an Account is distributed in a lump sum or, if an Account is distributed in installments,
cash shall be distributed (or withheld for payment of applicable taxes) at that time in lieu of any fractional share of Common Stock. The cash distribution in lieu of fractional shares shall be based on the published closing price of the
Company’s Common Stock on the last Trading Day preceding the date the distribution is scheduled to be made. 
 2.
Election for Commencement of Payment. At the time a Participant completes a Deferral Agreement, he or she shall elect from among the following options governing the date on which the payment of benefits shall commence: 

(a) Payment to begin on the Payment Date next following the date of the Participant’s Termination of Employment with
the Company for any reason. 
 (b) Payment to begin on the first Payment Date of the year next following the year
in which the Participant has a Termination of Employment with the Company for any reason. 
 (c) Payment to begin
on the first Payment Date of the year next following the date on which the Participant has both had a Termination of Employment with the Company for any reason and attained the age designated by the Participant in the Deferral Agreement. 

Notwithstanding a Participant’s election or any other provision of the Deferral Plan, the following specific rules apply to Participants who are
Section 16 Persons or Specified Employees. Subject to the rules regarding distributions to a Specified Employee, any payment of benefits in the form of shares of Common Stock that would result in a nonexempt short-swing transaction under
Section 16(b) of the Exchange Act shall be delayed until the earliest date upon which the Company reasonably anticipates that the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in
liability under Section 16(b) of the Exchange Act. Any distributions to a Specified Employee (including a Section 16 Person) on account of a termination of employment shall commence or be made on the Payment Date determined pursuant to the
Specified Employee’s election (or as otherwise provided under this Deferral Plan), except that if such Payment Date would be within six (6) months of the date of the Specified Employee’s Termination of Employment from the Company,
distributions shall commence or be made on the next date that is at least six (6) months following such termination of employment, regardless of whether such date is a Payment Date. 

3. Election for Form of Payment. At the time a Participant completes a Deferral Agreement, he or she shall elect the form of
payment of his or her Deferred Compensation for the specified Award Year or Death Benefit, as applicable, from among the following options: 
 (a) A lump sum. 

  
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 (b) Annual installment payments for a period of years designated by the
Participant not to exceed: 
 (i) Fifteen (15) annual installments for distributions commencing prior to
January 1, 2008: 
 (ii) Twenty (20) annual installments for distributions commencing on or after
January 1, 2008 and prior to January 1, 2010: 
 (iii) Twenty-Five (25) annual installments for
distributions commencing on or after January 1, 2010; 
 Such election shall be irrevocable except as provided in
Section 4 of this Article V. The amount of each annual payment shall be determined by dividing the Participant’s Account Balance at the end of the month prior to such payment by the number of installment payments then remaining in the
designated installment period. 
 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 Elections. 

(a) If a Participant has different payment options in effect with respect to his or her Account Balance, the Company shall
maintain sub-accounts for the Participant to determine the amounts subject to each payment election. 
 (b) In
the event a Participant does not make a valid election with respect to the commencement of payment and form of benefit for an Award Year or for a Death Benefit, the Participant will be deemed to have elected that payment of benefits with respect to
that Award Year or Death Benefit be made in a lump sum on or about the Payment Date next following the date of the Participant’s termination of employment. 
 (c) A Participant’s election with respect to an Award Year or Death Benefit (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 V, a Participant may make a new election with respect to the commencement of payment and form of payment with respect to any sub-account maintained for Award Years or a Death Benefit or with
respect to his or her entire Account Balance. 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 

  
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change to a previous election, (i) the prospective election must be executed and delivered to the Company at least twelve (12) months before the date the first payment would be due
under the Participant’s previous election, 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. 
 (f) A Participant may not make or modify an election with respect
to commencement of payment or form of payment after the date a Participant terminates employment. 
 5. Distribution upon
Early Termination. Notwithstanding a Participant’s payment elections under this Article V, subject to the requirements of Code section 409A, if the Participant terminates employment with the Company, other than by reason of death or
disability (as defined in Section 8(b) of this Article V), and before the Participant has attained age 55, except as provided in Section 5 of Article III with respect to Company Deferrals, the Participant’s Account Balance shall be
distributed to him or her in a lump sum on or about the Payment Date next following the date of the Participant’s Termination of Employment with the Company; 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 Company reasonably anticipates that the distribution either would not result in a nonexempt short-swing transaction or would
otherwise not result in liability under Section 16(b) of the Exchange Act. Distributions under this Section 5 are subject to any delay in distribution required for Specified Employees as provided in Section 2 of this Article V.

 6. Acceleration Upon Conflict of Interest. Notwithstanding a Participant’s payment elections under this Article
V, 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 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 

  
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responsibilities for that employer, except as provided in Section 5 of Article III with respect to Company Deferrals, then, to the extent reasonably necessary, the Participant’s Account
Balance shall be distributed to him or her in a lump sum as soon as practical (but no later than 90 days) 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 or indicated 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 Company reasonably anticipates that the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. This
Section 6 of Article V shall apply, however, only to the extent that the accelerated payment upon a conflict of interest determination conforms to Code section 409A. 
 7. Benefits Payable Upon Death. 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 accordance with the payment elections applicable to the Participant. If a Participant dies while actively employed or otherwise before the payment of benefits has commenced, payments to the Beneficiary shall commence on the date payments to the
Participant would have commenced, taking account of the Participant’s Termination of Employment (by death or before) and, if applicable, by postponing commencement until after the date the Participant would have attained the commencement age
specified by the Participant. Whether the Participant dies before or after the commencement of distributions, payments to the Beneficiary shall be made for the period or remaining period elected by the Participant. 

8. Early Distributions in Special Circumstances. Notwithstanding a Participant’s payment elections under this Article V, a
Participant or Beneficiary may request an earlier distribution in the following limited circumstances (except as provided in Section 5 of Article III with respect to Company Deferrals): 

(a) Hardship Distributions. A Participant may apply for a hardship distribution pursuant to this Section 8(a)
on such form and in such manner as the Committee shall prescribe and, subject to the last sentence of this Section 8(a) with respect to Section 16 Persons, the Committee shall have the power and discretion at any time to approve a payment
to a Participant if the Committee determines that the Participant is suffering from an unforeseeable severe financial emergency (within the meaning of Code section 409A(A)(2)(A)(vi) and 409A(A)(2)((B)(ii)) caused by circumstances beyond the
Participant’s control which would cause a hardship to the Participant unless such payment were made. Any such hardship payment will be in a lump sum and will not exceed the lesser of (i) the amount necessary to satisfy the financial
emergency (taking account of the income tax liability associated with the distribution), or (ii) the Participant’s Account Balance; provided, however, that if a distribution in accordance with the provisions of this Section 8(a) 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

  
 14 

 
date of distribution with respect to such portion to such Section 16 Person shall be delayed until the earliest date upon which the Company reasonably anticipates that the distribution
either would not result in a nonexempt short-swing transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. The Committee’s determination under this Section 8(a) shall conform to the requirements
of Code section 409A(a)(2)(B)(iv). 
 (b) Disability. If the Committee determines that a Participant has
become permanently disabled within the meaning of Section 409A(a)(2)(C) of the Code before the Participant’s entire Account Balance has been distributed, the Participant’s remaining Account Balance will be distributed within 90 days
in a lump sum payment; provided, however, that if a distribution in accordance with the provisions of this Section 8(b) 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 any Section 16 Person shall be delayed until the earliest date upon which the Company reasonably
anticipates that the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. 

9. Acceleration upon Change in Control. 
 (a) Notwithstanding any other provision of the Deferral Plan, except as provided in Section 5 of Article III with respect to Company Deferrals, 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 Deferral Plan, a Change in Control shall include and be deemed to occur upon the following events: 

(i) 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. 
 (ii) The Company is merged, combined, consolidated, recapitalized or otherwise reorganized with one or more other entities that are not the Company’s 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). 

  
 15 

 (iii) 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. 

(iv) 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). 
 (v) The stockholders of the Company approve a plan of liquidation and dissolution or the sale or transfer of substantially all of the Company’s business and/or assets as an entirety to an entity that
is not a Company Subsidiary. 
 Notwithstanding the foregoing, no distribution shall be made solely on account of a Change in
Control and prior to the benefit commencement date specified in Section 2 of Article V unless the Change in Control is 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 9(a), if
a distribution in accordance with the provisions of Section 9(a) would result in a nonexempt short-swing 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 Company reasonably anticipates that the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability under
Section 16(b) of the Exchange Act. 
 (d) This Section 9 shall apply only to a Change in Control of
Lockheed Martin Corporation and shall not cause immediate payout of Deferred Compensation 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 9 at any time prior to a Change in Control. In the event of a
Change in Control, this Section 9 shall remain in force and effect, and shall not be subject to cancellation or 

  
 16 

 
modification for a period of five years, and any defined term used in Section 9 shall not, for purposes of Section 9, be subject to cancellation or modification during the five-year
period. 
 10. Deductibility of Payments. Subject to the provisions of Code section 409A, in the event that the Company
reasonably anticipates that the payment of benefits in accordance with the Participant’s election under Section 3 of this Article VI would prevent the Company from claiming an income tax deduction with respect to any portion of the
benefits paid under Code section 162(m), the Committee shall have the right to delay the timing of distributions from the Participant’s Account as necessary to maximize the Company’s tax deductions. In the exercise of its discretion to
adopt a delayed distribution schedule, the Committee shall undertake to have distributions made at such times and in such amounts as the Company reasonably anticipates, or should reasonably anticipate, that if the payment is made during such year,
the deduction will not be barred by Code section 162(m) or upon a Termination of Employment in accordance with Treasury Regulation section 1.409A-2(b)(7)(i), consistent with the objective of maximum deductibility for the Company. The Committee shall
have no authority to reduce a Participant’s Account Balance or to pay aggregate benefits less than the Participant’s Account Balance in the event that all or a portion thereof would not be deductible by the Company. All scheduled payments
under this Plan and any other plan required to be aggregated with this Plan must be delayed in order for such payment to be delayed pursuant to this Section 8. 
 11. 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 the Plan has or may be adversely affected by a change in the Code, Title I of the Employee Retirement Income Security Act of 1974, or other applicable law or by an administrative
or judicial construction thereof, the Committee may direct that the 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. 

12. Tax Withholding. To the extent required by law, the Company shall withhold from benefit payments hereunder, or with respect to
any Incentive Compensation, Long Term Incentive Award, or Death Benefit payment deferred hereunder or credit contributed by the Company under Article IV, 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. 
 ARTICLE VI 
 EXTENT OF PARTICIPANTS’ RIGHTS 

1. Unfunded Status of Plan. This Deferral 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

  
 17 

 
connection with this Deferral Plan. Notwithstanding the foregoing, to assist the Company in meeting its obligations under this Deferral Plan, the Company may set aside assets in a trust described
in Revenue Procedure 92-64, 1992-2 C.B. 422, and the Company may direct that its obligations under this Deferral Plan be satisfied by payments out of such trust. The assets of any such trust will remain subject to the claims of the general creditors
of the Company. It is the Company’s intention that the Deferral 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 V of this Deferral Plan. 

ARTICLE VII 
 AMENDMENT OR TERMINATION 
 1. Amendment. The Board or its authorized
delegate may amend, modify, suspend or discontinue this Deferral 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 Account Balance. Further, no amendment may alter the formula for crediting interest to Participants’ Accounts with respect
to amounts for which deferral elections have previously been made, unless the amended formula is not less favorable to Participants than that previously in effect, or unless each affected Participant consents to such change. 

2. Termination. The Board reserves the right to terminate this Plan at any time and to pay all Participants their 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 short-swing transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. 
 3. Transfer of Liability. The Board reserves the right to transfer to another entity all of the obligations of Company with respect to a Participant under this Plan if such entity agrees pursuant
to a binding written agreement to assume all of the obligations of the Company under this Plan with respect to such Participant. 

  
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 ARTICLE VIII 
 ADMINISTRATION 
 1. The Committee. This Deferral 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 Deferral Plan to comply with the disinterested
administration 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 (identified in Section 6 below) 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 Deferral Plan or in any document issued under the Deferral Plan, it is intended that the Deferral 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 Deferral Plan will be interpreted to meet such requirements. If any provision of the Deferral Plan
is determined not to conform to such requirements, the Deferral Plan shall be interpreted to omit such offending provision. 

2. Delegation and Reliance. The Committee has delegated 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 Deferral 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 Deferral 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 Deferral 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 Deferral 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 Deferral 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 Deferral Plan or for the failure of the Deferral Plan or any Participant’s rights under the Deferral 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 

  
 19 

 
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 Deferral Plan is wholly or partially denied by the Claims
Administrator are as follows: 
 (a) The Claims Administrator shall, within 90 days after receipt of a claim,
furnish to claimant a written notice setting forth, in a manner calculated to be understood by claimant: (1) the specific reason or reasons for the denial; (2) specific reference to pertinent Deferral Plan provisions on which the denial is
based; (3) a description of any additional materials or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; (4) an explanation of the steps to be taken if the
claimant wishes to have the denial reviewed; and (5) a statement of the claimant’s right to bring a civil action under section 502(a) of ERISA following an adverse determination on review. The 90-day period may be extended for not more
than an additional 90 days if special circumstances make such an extension necessary. The Claims Administrator shall give the claimant, before the end of the initial 90-day period, a written notice of such extension, stating such special
circumstances and the date by which the Claims Administrator expects to render a decision. 
 (b) By a written
application filed with the Claims Administrator within 60 days after receipt by claimant of the written notice described in paragraph (a), the claimant or his duly authorized representative may request review of the denial of his claim. 

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

  
 20 

 
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 Deferral Plan provisions on which the decision is based; (3) a statement that the
claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records, and other information “relevant” to the claimant’s claim for benefits; (4) a description of any
additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; (5) a statement describing any voluntary appeal procedures and the claimant’s right to
obtain information about such procedures, if any; and (6) a statement of the claimant’s right to bring a civil action under section 502(a) of ERISA following an adverse benefit determination on review. If in the event that the reviewing
committee must make a determination of disability in order to decide a claim, the reviewing committee shall follow the special claims procedures for disability benefits described in Department of Labor Regulation section 2560.503-1(d). The reviewing
committee shall render a decision within a reasonable time (not to exceed 90 days) after the claimant’s request for review, rather than within 120 days as set forth in the above paragraph. 

(e) The Claims Administrator shall be the Lockheed Martin Corporation 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 IX 
 GENERAL AND MISCELLANEOUS PROVISIONS 

1. No Guarantee of Employment or Award. Neither this Deferral Plan, a Company Deferral 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 Deferral Plan, a Company Deferral 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 Deferral Plan, a Company Deferral 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 Deferral Plan, a Company Deferral or a Deferral Agreement, either singly or collectively, by their terms or implications in any way obligate
the Company to award Incentive Compensation, grant any award under the Omnibus Plan or IPA Plan, pay any Death Benefit, or make any Long Term Incentive Award payment to any Eligible Employee for any Award Year, whether or not the

  
 21 

 
Eligible Employee is a Participant in the Deferral Plan for that Award Year, nor in any other way limit the right of the Company to change an Eligible Employee’s compensation or other
benefits. 
 2. Notice. 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 last-known place of residence or business address. 

3. Performance of Acts. In the event it should become impossible for the Company or the Committee to perform any act required by
this Deferral 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 Deferral Plan. 

4. Employee Consent. By electing to become a Participant hereunder, each Eligible Employee shall be deemed conclusively to have
accepted and consented to all of the terms of this Deferral Plan. 
 5. Terms Binding. The provisions of this Deferral
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. 

6. Copy of Plan. A copy of this Deferral Plan shall be available for inspection by Participants or other persons entitled to
benefits under the Deferral Plan at reasonable times at the offices of the Company. 
 7. State Law. The validity of this
Deferral Plan or any of its provisions shall be construed, administered, and governed in all respects under and by the laws of the State of Maryland, except as to matters of Federal law. If any provisions of this instrument shall be held by a court
of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof shall continue to be fully effective. 

8. Regulatory Requirements. This Deferral Plan and its operation, including but not limited to, the mechanics of deferral
elections, the reallocation of all or a portion of a Participant’s Account Balance, 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. 
 9. Section 16 of Exchange Act. It is the intent of the Company
that this Deferral 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 

  
 22 

 
subject Section 16 Persons to short-swing profit liability thereunder. If any provision of this Deferral Plan would otherwise frustrate or conflict with the intent expressed in this
Section 9, 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 Deferral 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 Deferral Plan, the provisions of this Deferral Plan may at any time be bifurcated by the Board or the Committee in any
manner so that certain provisions of this Deferral Plan are applicable solely to Section 16 Persons. Notwithstanding any other provision of this Deferral 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 Deferral 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. 
 10. Securities Laws. This Deferral Plan, allocations to and from the Company Stock
Investment Option and the issuance and delivery of shares of Common Stock and/or other securities or property or the payment of cash under this Deferral Plan, are 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 Federal margin requirements) and to such approvals by any listing, regulatory or governmental authority as may, in the
opinion of counsel for the Company be necessary or advisable to comply with all legal requirements. Any securities delivered under this Deferral Plan shall be subject to such restrictions (and the person acquiring such securities shall, if requested
by the Company provide such evidence, assurance and representations to the Company as to compliance with any thereof) as counsel to the Company may deem necessary or desirable to assure compliance with all applicable legal requirements. 

11. Electronic Notice and Signatures. Whenever a signature notice or delivery of a document is required or appropriate under this
Deferral Plan, signature, notice or delivery may be accomplished by paper or written format or, to the extent authorized by the Committee, by electronic means. In the event the Committee authorizes electronic means for the signature, notice or
delivery of a document under this Deferral Plan, the electronic record or confirmation of that signature, notice or delivery maintained by or on behalf of the Committee shall for purposes of this Deferral Plan be treated as if it was a written
signature or notice and was delivered in the manner provided herein for a written document. 

  
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 ARTICLE X 
 EFFECTIVE DATE 
 This Deferral Plan was originally adopted by the Board on
July 27, 1995 and became effective upon adoption to awards of Incentive Compensation for the Company’s fiscal year ending December 31, 1995 and subsequent fiscal years. Subsequent amendments to the Deferral Plan are effective as of
the date stated in the amendment or the adopting resolution. 
 This Deferral Plan has been amended and restated effective as of
the date stated on the first page herein. 

  
 24 

 APPENDIX A 
 This Appendix A shall govern the portion of a Participant’s Account Balance that was earned and vested prior to January 1, 2005 (and any earnings attributable to that portion). This Appendix A
shall not apply to the portion of a Participant’s Account Balance that is earned or becomes vested on or after January 1, 2005 (and any earnings attributable to that portion). 

ARTICLE I 

PURPOSES OF THE PLAN 
 The purposes of the Lockheed Martin Corporation Deferred Management Incentive Compensation Plan (the “Deferral Plan’) are to provide certain key management employees of Lockheed Martin
Corporation and its subsidiaries (the “Company”) the opportunity to defer receipt of (i) Incentive Compensation awards under the Lockheed Martin Corporation Management Incentive Compensation Plan (the “MICP”) and
(ii) Long Term Incentive Award payments under the Lockheed Martin Corporation 1995 Omnibus Performance Award Plan (the “Omnibus Plan”) and the Lockheed Martin Corporation 2003 Incentive Performance Award Plan (the “IPA
Plan”). Providing this opportunity to defer income under the Deferral Plan will encourage key employees to maintain a financial interest in the Company’s performance. Except as expressly provided hereinafter, the provisions of this
Deferral Plan and the MICP, the Omnibus Plan and the IPA Plan shall be construed and applied independently of each other. 
 The
Deferral Plan applies solely to MICP awards and Long Term Incentive Award payments under the Omnibus Plan and the IPA Plan and expressly does not apply to any special awards which may be made under any of the Company’s other incentive plans,
except and to the extent specifically provided under the terms of such other incentive plans and the relevant awards. 

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 and earnings (or losses) attributable to the
investment options selected by the Participant, and which is debited to reflect distributions and forfeitures; the portions of a Participant’s Account allocated to different investment options and the portions attributable to the deferral of
Incentive Compensation awards and Long Term Incentive Award payments will be accounted for separately. 

  
 25 

 2. ACCOUNT BALANCE — The total amount credited to a Participant’s Account at any
point in time, including the portions of the Account allocated to each investment option. 
 3. AWARD YEAR — As to
Incentive Compensation, the calendar year with respect to which an Eligible Employee is awarded Incentive Compensation; as to a Long Term Incentive Award payment and the related Company Deferral, the first calendar year in the Performance Period for
which the Long Term Incentive Award is effective with respect to an Eligible Employee. 
 4. BENEFICIARY — The person or
persons (including a trust or trusts) validly designated by a Participant, on the form provided by the Company, to receive distributions of the Participant’s Account Balance, if any, upon the Participant’s death. In the absence of a valid
designation, or if the designated Beneficiary has predeceased the Participant, the Participant’s Beneficiary shall be the personal representative of the Participant’s estate in the event of a Participant’s death. A Participant may
amend his or her Beneficiary designation at any time before the Participant’s death. 
 5. BOARD — The Board of
Directors of Lockheed Martin Corporation. 
 6. COMMITTEE — The committee described in Section 1 of Article VIII.

 7. COMMON STOCK — The $1.00 par value common stock of the Company. 

8. COMPANY — Lockheed Martin Corporation and its subsidiaries. 

9. COMPANY DEFERRALS — The amount deferred by the Company, and not at the election of the Participant, for the two-year period
following the end of a Performance Period for a Long Term Incentive Award. 
 10. COMPANY STOCK INVESTMENT OPTION — The
investment option under which the amount credited to a Participant’s Account will be based on the market value and investment return of the Company’s Common Stock. 
 11. 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 Incentive Compensation for an
Award Year, or a Long Term Incentive Award and any related Company Deferral for an Award Year. 
 12. DEFERRAL PLAN — The
Lockheed Martin Corporation Deferred Management Incentive Compensation Plan, adopted by the Board on July 27, 1995, and as amended from time to time. 

  
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 13. DEFERRED COMPENSATION — The amount of Incentive Compensation credited to a
Participant’s Account under the Deferral Plan and the amount of any Long Term Incentive Award payment credited to a Participant’s Account under the Deferral Plan (other than Company Deferrals). 

14. ELIGIBLE EMPLOYEE — An employee of the Company who is a participant in the MICP or who receives a Long Term Incentive Award
under the Omnibus Plan or the IPA Plan and who has satisfied such additional requirements for participation in this Deferral 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.

 15. EXCHANGE ACT — The Securities Exchange Act of 1934. 

16. INCENTIVE COMPENSATION — The MICP amount granted to an employee for an Award Year. 

17. IPA PLAN — The Lockheed Martin Corporation 2003 Incentive Performance Award Plan. 

18. INTEREST OPTION — The investment option under which earnings will be credited to a Participant’s Account based on the
interest rate applicable under Cost Accounting Standard 415, Deferred Compensation. 
 19. INVESTMENT FUND OPTION — The
investment option under which earnings (or losses)will be credited to a Participant’s Account based on the market value and investment return of the investment options (including target date funds and core funds (and successor funds), and
excluding the Company Stock Fund, ESOP Fund, and Self-Managed Account) that are available to participants pursuant to the terms of the Qualified Savings Plan, provided that the Committee retains the discretion to add certain funds to, or to exclude
certain funds from, the Investment Fund Option. 
 20. LONG TERM INCENTIVE AWARD — A long term incentive award granted to
an employee under the Omnibus Plan or the IPA Plan. 
 21. MICP — The Lockheed Martin Corporation Management Incentive
Compensation Plan. 
 22. OMNIBUS PLAN — The Lockheed Martin Corporation 1995 Omnibus Performance Award Plan. 

23. PARTICIPANT — An Eligible Employee for whom Incentive Compensation or a Long Term Incentive Award payment has been deferred for
one or more years under this Deferral Plan; the term shall include a former employee whose Deferred Compensation has not been fully distributed. 

  
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 24. PAYMENT DATE — As to any Participant, the January 15 or July 15 on or
about on which payment to the Participant is to be made or to begin in accordance with Article V. 
 25. PERFORMANCE PERIOD
— The period set forth in a Long Term Incentive Award over which the Company’s performance is measured by reference to total stockholder return to determine whether any payment will be made under such Long Term Incentive Award.. QUALIFIED
SAVINGS PLAN — The Lockheed Martin Corporation Salaried Savings Plan or any successor plan. 
 26. REALLOCATION EFFECTIVE
DATE — The date a reallocation elected by a Participant or Beneficiary under Section 6(a) of Article IV is effected, which shall be the June 30, July 31, August 31 or September 30 immediately following the end
of the Reallocation Election Period in which his or her election under Section 6(a) becomes irrevocable. 
 27.
REALLOCATION ELECTION PERIOD — A period in which a Participant or Beneficiary may under Section 6(a) of Article IV elect a reallocation of his or her Account Balance from one investment option to another investment option, and there shall
be four such election periods: June 1 through June 15, 2004, June 16 through July 15, 2004, July 16 through August 15, 2004 and August 16 through September 15, 2004. 

28. SECTION 16 PERSON — A Participant who is subject to the reporting and short-swing liability provisions of Section 16 of the
Securities Exchange Act of 1934 on the date a Deferral Agreement or other election form is delivered to the Company in accordance with the terms of this Deferral Plan. 
 29. 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. 

30. TRADING DAY — A day upon which transactions with respect to Company Common Stock are reported in the consolidated transaction
reporting system. 
 ARTICLE III 
 ELECTION OF DEFERRED AMOUNT 
 1. Timing of Deferral Elections.

 (a) Incentive Compensation. An Eligible Employee may elect to defer Incentive Compensation for an Award Year by
executing and delivering to the Company a Deferral Agreement no later than October 31 of the Award Year, provided that any election by a Section 16 Person shall be subject to the provisions of Section 4 of Article IV. 

  
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 (b) Long Term Incentive Awards and Company Deferrals. An Eligible Employee may elect
to defer the payment of a Long Term Incentive Award and a Company Deferral for an Award Year by executing and delivering to the Company a Deferral Agreement no later than October 31 of the Award Year, provided that any election by a
Section 16 Person shall be subject to the provisions of Section 4 of Article IV. 
 (c) Irrevocability of
Elections. No Eligible Employee shall have the right to modify or revoke a Deferral Agreement for an Award Year after the applicable deadline described in Section 1(a) and Section 1(b) of this Article III for delivering a Deferral
Agreement to the Company for such Award Year, provided no Section 16 Person shall have the right to modify or revoke a Deferral Agreement after such applicable deadline or, if earlier, after the date the agreement has been delivered to the
Company. The Committee may establish policies and procedures to determine when a Deferral Agreement or other election called for under this Plan has been delivered to the Company. Each Deferral Agreement shall apply only to amounts deferred in that
Award Year and a separate Deferral Agreement must be completed for each Award Year for which an Eligible Employee defers Incentive Compensation or a Long Term Incentive Award. 
 2. Amount of Deferral Elections. An Eligible Employee’s deferral election may be stated as: 
 (a) a dollar amount which is at least $5,000 and is an even multiple of $1,000, 

(b) the greater of $5,000 or a designated percentage of the Eligible Employee’s Incentive Compensation or Long Term Incentive Award
payment (adjusted to the next highest multiple of $1,000), 
 (c) the excess of the Eligible Employee’s Incentive
Compensation or Long Term Incentive Award payment over a dollar amount specified by the Eligible Employee (which must be an even multiple of $1,000), or 
 (d) all of the Eligible Employee’s Incentive Compensation or Long Term Incentive Award payment. 
 An Eligible Employee’s deferral election shall be effective only if the Participant is awarded, in the case of Incentive Compensation, at least $10,000 of Incentive Compensation for that Award Year,
or in the case of Long Term Incentive Award, at least $10,000 is payable to the Participant in cash at the conclusion of the Performance Period applicable to a Long Term Incentive Award payment. In addition, in the case of a deferral election under
paragraph (c) of this Section 2, an Eligible Employee’s deferral election shall be effective only if the resulting excess amount is at least $5,000. 
 3. Effect of Taxes on Deferred Compensation. The amount that would otherwise be deferred and credited to an Eligible Employee’s Account will be reduced by the amount of any tax that the
Company is required to withhold with respect to the Deferred Compensation. The reduction for taxes shall be made proportionately out of amounts otherwise allocable to the Interest Option and the Company Stock Investment Option. 

  
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 4. Multiple Awards. In the case of an Eligible Employee who receives more than one
Long Term Incentive Award with respect to the same Performance Period, the elections made by the Eligible Employee under this Article III as well as under Articles V and VI for the first Long Term Incentive Award granted to the Eligible Employee
with respect to a Performance Period shall be deemed to be the elections made by that Eligible Employee for any other Long Term Incentive Awards granted to that Eligible Employee with respect to that same Performance Period. 

5. Company Deferrals. Pursuant to the terms of the Long Term Incentive Awards, 50% of the amount payable at the end of the
Performance Period will be automatically deferred until the second anniversary of the last day of the Performance Period with respect to a particular award. The Company may establish an account for Company Deferrals under the Company Stock
Investment Option of this Deferral Plan. However, the terms governing the Company Deferrals will be governed for the two year period of deferral by the terms of the award agreement entered into under the Omnibus Plan or the IPA Plan with respect to
the Long Term Incentive Award and not by this Deferral Plan except to the extent the award agreement expressly refers to the terms of this Deferral Plan. Notwithstanding the foregoing, if the Participant elects to defer the Company Deferrals beyond
the second anniversary of the end of the Performance Period, the deferrals will be treated as made under this Deferral Plan for the period following the second anniversary of the end of the Performance Period. 

ARTICLE IV 

CREDITING OF ACCOUNTS 
 1. Crediting of Deferred Compensation. Incentive Compensation or a Long Term Incentive Award payment that a Participant has elected to defer under this Deferral Plan shall be credited to the
Participant’s Account as of the Trading Day set by action of the Committee or, if the Committee does not act to set such a day, on the second Trading Day which follows the date of approval of the related Incentive Compensation or Long Term
Incentive Award. If the Company establishes an account for Company Deferrals pursuant to Section 5 of Article III, the Company Deferrals shall be credited to such account as of the last Trading Day in the Performance Period. Any Deferred
Compensation credits under this Section 1 which are allocable to the Interest Option shall be credited at the dollar amount of such credits. Any Deferred Compensation and Company Deferral credits under this Section 1 which are allocable to
the Company Stock Investment Option shall be credited as if the dollar amount of credits had been invested in the Company’s Common Stock at the published closing price of the Company’s Common Stock on the applicable Trading Day described
in this Section 1. Any Deferred Compensation and Company Deferral credits under this Section 1 which are allocable to the Investment Fund Option shall be credited as if the dollar amount of credits had been invested in the applicable fund
at the published closing price of the applicable fund on the applicable Trading Day described in this Section 1. 

  
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 2. Crediting of Earnings (Losses) and Reallocations. 

(a) General Rules. 
 (i) Earnings (or losses) shall be credited to a Participant’s Account based on the investment option or options to which the Account has been allocated beginning with the applicable Trading Day
described in this Article IV. 
 (ii) Earnings (or losses) on amounts reallocated in accordance with this Article
IV shall be credited to the Participant’s Account as of the applicable day or Trading Day described for such reallocation in this Article IV. 
 (iii) Any amount distributed from a Participant’s Account in cash pursuant to Article V shall be credited with earnings (or losses) through the Trading Day that is four (4) business days prior
to the Payment Date on which a distribution is to be made. Any amount distributed from a Participant’s Account in stock pursuant to Article V shall be credited with earnings (or losses) through the last Trading Day preceding the date on which a
distribution is to be made. 
 (iv) Company Deferrals shall be credited with earnings (or losses) through the
last Trading Day in the period which ends on the second anniversary of the end of the applicable Performance Period unless deferred further pursuant to a Deferral Agreement. 

(b) Interest Option. The portion of a Participant’s Account allocated or reallocated to the Interest Option
shall be credited with interest, valued daily, while so allocated or reallocated at a rate equivalent to the then published rate for computing the present value of future benefits at the time cost is assignable under Cost Accounting Standard 415,
Deferred Compensation, as determined by the Secretary of the Treasury on a semi-annual basis pursuant to Pub. L. 92-41, 85 Stat. 97. No amounts may be reallocated to the Interest Option on or after July 1, 2009. Amounts deferred prior to
January 1, 2005 may remain invested in the Interest Option until such amounts are transferred to the Company Stock Investment Option or the Investment Fund Option on or after July 1, 2009. 

(c) Company Stock Investment Option. 

(i) The portion of a Participant’s Account allocated or reallocated to the Company Stock Investment Option shall be
credited when so allocated or reallocated on the applicable Trading Day described in this Article IV as if such amount had been invested in the Company’s Common Stock at the published closing price of the Company’s Common Stock on such
Trading Day. 
 (ii) The portion of the Participant’s Account Balance allocated to the Company Stock
Investment Option shall reflect any post-allocation appreciation or depreciation in the market value of the Company’s Common Stock based on the published closing price of the stock on each Trading Day and shall reflect dividends paid and any
other distributions made with respect to the Company’s Common Stock. 
 (iii) Cash dividends shall be
treated as if such dividends had been reinvested in the Company’s Common Stock at the published closing price of the 

  
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Company’s Common Stock on the Trading Day on which the cash dividend is paid or, if the dividend is paid on a day which is not a Trading Day, on the Trading Day which immediately precedes
the day the dividend is paid. 
 (iv) If any portion of a Participant’s Account was reallocated in
accordance with paragraph 5 (or paragraph 4 prior to October 1, 2004) of this Article IV from the Company Stock Investment Option to the Interest Option or the , the reallocation shall be credited to the Interest Option as if the Company’s
Common Stock had been bought or sold at the published closing price of the Company’s Common Stock on the Trading Day on which the reallocation is effective, or if the reallocation is effective as of the day that is not a Trading Day, the
Trading Day which immediate precedes the effective date of the reallocation. 
 (d) Investment Fund
Option. Earnings (or losses) shall be credited to a Participant’s Account based on the investment option or options within the Investment Fund Option to which his or her Account has been allocated. 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. The procedures for directing the allocation and reallocation among the investment options in the Investment Fund Option
shall be the same as the procedures for making allocations under the Qualified Savings Plan. 
 3. Election of Investment
Options. A Participant’s initial investment elections for a particular type of award for an Award Year shall be made in his or her Deferral Agreement for such Award Year, and no Participant shall (except as provided for in Section 6
and Section 7 of this Article IV) have the right to modify or revoke any such election after the time the Participant no longer has the right to modify or revoke a Deferral Agreement under Section 1 of Article III. A Participant’s
allocations between investment options shall be subject to such minimum allocations as the Committee may establish. 
 4.
Special Rule for Section 16 Persons. An election by a Section 16 Person to have any Deferred Compensation allocated to the Company Stock Investment Option shall be effective on the Trading Day described in Section 1 of this
Article IV unless he or she delivers the related Deferral Agreement to the Company less than six months before such Trading Day. If he or she delivers the related Deferral Agreement to the Company less than six months before such date, his or her
Company Stock Investment Option election automatically shall be treated as an Interest Option election under Section 1 of this Article IV until the first Trading Day of the seventh month following the month in which the Deferral Agreement is
delivered to the Company. The Deferred Compensation so allocated to the to the Interest Option together with any related interest credits shall by operation of this Deferral Plan automatically be reallocated and credited to the Company Stock
Investment Option on such Trading Day in accordance with Section 2(b) of this Article IV. 
 Reallocations to Interest
Option (deleted effective September 30, 2004). If benefit payments to a Participant or Beneficiary are to be paid or commenced to be paid over a period that extends more than six months after the date of the Participant’s termination
of employment with the Company, the Participant or Beneficiary, as applicable, may make a one-time 

  
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irrevocable election under this Section 5 at any time after the Participant’s termination of employment and before the completion of benefit payments to have the portion of the
Participant’s Account that is allocated to the Company Stock Investment Option reallocated to the Interest Option. A reallocation under this Section 5 shall take effect as of the first Trading Day of the month following the month in which
an executed reallocation election is delivered to the Company, provided an election by a Participant or Beneficiary who is a Section 16 Person on the date the election is delivered to the Company shall be effective only if such election
satisfies on such date all the requirements of the exemption under Rule l6b-3 of the Exchange Act for a “discretionary transaction” or otherwise would not result in a short swing profit recovery pursuant to Rule 16b-3 under the Exchange
Act. In the event such election does not satisfy the exemption pursuant to Rule l6b-3 under the Exchange Act for a “discretionary transaction” and if giving effect to the election would result in liability under Section 16(b) of the
Exchange Act, the election shall not be given effect until the first Trading Day of the month following the month in which the election could be given effect without creating liability under Section 16(b) of the Exchange Act. Notwithstanding
anything herein to the contrary, no election may be made under this Section 5 after September 15, 2004, and any such election made during September 2004 will be valued and take effect as of September 30, 2004. 

5. One-Time Reallocation Right. 
 (a) General Rule. Subject to Section 5(b) of this Article IV, a Participant or Beneficiary may during a Reallocation Election Period execute and deliver to the Company an election made on such
form and in such manner as prescribed by the Committee to the Company to reallocate all or a portion (in five (5) percent increments) of his or her Account Balance (other than Company Deferrals) which is then allocated to one investment option
to the other investment option. Any such election shall be irrevocable when received by the Company, and the reallocation which the Participant or Beneficiary elects shall be effective as of the Reallocation Effective Date that immediately follows
the end of the Reallocation Election Period in which his or her election becomes irrevocable. Only one reallocation election may be made by a Participant or Beneficiary with the result that a reallocation made in one Reallocation Election Period
will preclude a reallocation election in a subsequent Reallocation Election Period. 
 (b) Exception. If a Participant or
a Beneficiary is a Section 16 Person on any date in a Reallocation Election Period and delivers an election to the Company in such period, such election shall have no force or effect under Section 6(a) unless such election complies with
the exemption under Rule l6b-3 of the Exchange Act for a “discretionary transaction”. 
 (c) Additional Credit.
The Company shall credit to the Account of each Participant or Beneficiary that has Deferred Compensation (other than Company Deferrals) credited to the Stock Investment Option as of September 30, 2004 an amount equal to the greater of
(i) $24.95 per Account Balance; or (ii) $0.10 for each whole share of Common Stock reflected in the Participant’s or Beneficiary’s Account Balance (exclusive of Company Deferrals). Such amount shall be allocated and credited to
the Interest Option as of September 30, 2004, after taking into account any reallocation under Section 6(a) of this Article IV. 

  
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 6. Reallocation Among Investment Options. Effective June 16, 2008, a
Participant may reallocate the portion of his Account Balance that is invested in the Interest Option and the Investment Fund Option to the Interest Option (through June 30, 2009), the Company Stock Investment Option, and the various investment
funds in the Investment Fund Option, subject to the trading restrictions that apply to the transfer and reallocation of investments under the terms of the Qualified Savings Plan, applied as if such Qualified Savings Plan restrictions also pertain to
the Interest Option; provided that a Participant may not at any time reallocate the portion of his Account Balance that is invested at any time in the Company Stock Investment Option. Notwithstanding the foregoing, any election by a Section 16
Person to reallocate any portion of his Account Balance to the Company Stock Investment Option shall only become effective if the election is made at least six months following the most recent election with respect to any plan of the Corporation
that involved the disposition of the Corporation’s equity securities pursuant to a “Discretionary Transaction” (as defined in Exchange Act Rule 16b-3). . No amounts may be reallocated to the Interest Option on or after July 1,
2009. 
 ARTICLE V 
 PAYMENT OF BENEFITS 
 1. General. 

(a) Account Balance and Elections. The Company’s liability to pay benefits to a Participant or Beneficiary under this
Deferral Plan shall be measured by and shall in no event exceed the Participant’s Account Balance. Except as otherwise provided in this Deferral Plan (including but not limited to Section 5 of Article III with respect to Company
Deferrals), a Participant’s Account Balance shall be paid to him in accordance with the Participant’s elections under this Article V. 
 (b) Cash Only Payment. With respect to benefit payments made on a Payment Date which is on or before September 30, 2004, all such benefit payments shall be made in accordance with the terms of
this Deferral Plan as in effect on such date in cash and, except as otherwise provided under such terms, shall reduce allocations to the Interest Option and the Company Stock Investment Option in the same proportions that the Participant’s
Account Balance is allocated between those investment options at the end of the month preceding the date of distribution. Notwithstanding the foregoing, no amount of Deferred Compensation shall be distributed to a Section 16 Person under this
Deferral Plan which is attributable to the Stock Investment Option unless such amount was allocated to the Participant’s Account in accordance with Section 1 of Article 4 at least six months prior to the date of distribution or no portion
of such amount was allocated to the Company Stock Investment Option in the six months prior to distribution. 
 (c) Cash and
Stock Payments. With respect to benefit payments made after September 30, 2004, all such benefit payments shall be made in cash to the extent a Participant’s Account is allocated to the Interest Option or Investment Fund Option or is
attributable to Company Deferrals and shall be made in whole shares of the Company’s Common Stock to the 

  
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extent that a Participant’s Account is allocated to the Company Stock Investment Option (other than with respect to Company Deferrals) and, except as otherwise provided, shall reduce
allocations to the Interest Option, the Investment Fund Option, and the Company Stock Investment Option in the same proportions that the Participant’s Account Balance is allocated between those investment options at the end of the month
preceding the date of distribution (for distributions occurring prior to June 16, 2008) or the Trading Day that is four (4) business days prior to the date of the distribution (for distributions occurring on or after June 16, 2008).
Notwithstanding the foregoing, no amount of Deferred Compensation shall be distributed to a Section 16 Person under this Deferral Plan unless such amount was allocated to the Participant’s Account in accordance with Section 1 of
Article 4 at least six months prior to the date of distribution. At the Company’s discretion a distribution of Common Stock may be made directly to a Participant or to a brokerage account opened in the name of the Participant. When an Account
is distributed in a lump sum or, if an Account is distributed in installments, when the final installment is made, cash shall be distributed (or withheld for applicable taxes) at that time in lieu of any fractional share of Common Stock. The cash
distribution in lieu of fractional shares shall be based on the published closing price of the Company’s Common Stock on the last Trading Day preceding the date the distribution is scheduled to be made. 

2. Election for Commencement of Payment. At the time a Participant first completes a Deferral Agreement, he or she shall elect
from among the following options governing the date on which the payment of benefits shall commence: 
 (a) Payment to begin on
the Payment Date next following the date of the Participant’s termination of employment with the Company for any reason. 

(b) Payment to begin on the first Payment Date of the year next following the year in which the Participant terminates employment with
the Company for any reason. 
 (c) Payment to begin on the Payment Date next following the date on which the Participant has
both terminated employment with the Company for any reason and attained the age designated by the Participant in the Deferral Agreement. 

Notwithstanding a Participant’s election, any payment of benefits in the form of shares of Common Stock that would otherwise commence within six
months of the date on which a Participant ceased to be Section 16 Person shall not be paid on that date but instead shall be paid on the first Payment Date that is at least six months after the date on which that Participant ceased to be a
Section 16 Person. 
 3. Election for Form of Payment. At the time a Participant first completes a Deferral
Agreement, he or she shall elect the form of payment of his or her Account Balance from among the following options: 
  

	 	(A)	A lump sum. 

  

	 	(B)	 Annual installment payments for a period of years designated by the Participant, which shall not exceed fifteen (15) annual installments. The
amount of each annual payment shall be determined by dividing the Participant’s Account Balance at the 

  
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end of the month prior to such payment by the number of installment payments then 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 Elections. 

(a) Notwithstanding anything to the contrary in this Article V, a Participant may make an election with respect to the commencement of
payment (from among the options set forth in Section 2(A), (B), or (C) above) and form of payment (from among the options set forth in Section 3(A) or (B) above) of his or her entire Account Balance, or with respect to specific
Award Years, by executing and delivering to the Company an election form on or after October 1, 2002 in such form as prescribed by the Company. If a Participant has different payment options in effect with respect to his or her Account Balance,
the Company shall maintain sub-accounts for the Participant to determine the amounts subject to each payment election; however, no election or modification of an election will be accepted if it would require the Company to maintain more than five
sub-accounts within the Participant’s Account in order to make payments in accordance with the Participant’s elections. 
 (b) In the event a Participant does not make a valid election with respect to the commencement of payment and form of benefit for an Award Year commencing on or after October 1, 2002, the Participant
will be deemed to have elected that payment of benefits with respect to that Award Year be made in a lump sum on or about the Payment Date next following the date of the Participant’s termination of employment. 

(c) A Participant’s election with respect to an Award Year (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 the second preceding paragraph above. 
 (d) To constitute a valid election by a Participant making a prospective change to a previous election, the prospective election must be executed and delivered to the Company (i) at least six months
before the date the first payment would be due under the Participant’s previous election and (ii) in a different calendar year than the date the first payment would be due under the Participant’s previous election. 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. In addition, no prospective
election will be considered valid to the extent the prospective election would (i) result in a payment being made within six months of the date of the prospective election or (ii) result in a payment under the prospective election in the
same calendar year as the date of the prospective election. In the event a prospective election fails to satisfy the provisions set forth in the preceding sentence, the first payment under the prospective election will be delayed until the first
Payment Date that is both (i) at least six months after the date of the prospective election and (ii) in a calendar year after the date of the prospective election. 

  
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 (e) A Participant may not make or modify an election with respect to commencement of payment
or form of payment after the date a Participant terminates employment. 
 5. Acceleration upon Early Termination.
Notwithstanding a Participant’s payment elections under this Article V, if the Participant terminates employment with the Company other than by reason of layoff, death or disability and before the Participant is eligible to commence receiving
retirement benefits under a pension plan maintained by the Company (or before the Participant has attained age 55 if the Participant does not participate in such a pension plan), except as provided in Section 5 of Article III with respect to
Company Deferrals, the Participant’s Account Balance shall be distributed to him or her in a lump sum on or about the Payment Date next following the date of the Participant’s termination of employment with the Company; provided, however,
that if a distribution in accordance with the provisions of this Section 5 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 short-swing transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. 

6. Acceleration Upon Conflict of Interest. Notwithstanding a Participant’s payment elections under this Article V, 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, except as provided in Section 5 of Article III with respect to Company Deferrals, 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 or indicated that the
conflict of interest may exist. This Section 6 shall be applicable only to the extent that such distribution conforms to Code section 409A. 
 7. Death Benefits. 
 (a) General Rule. 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 accordance with the payment elections applicable to the Participant. If a Participant dies while
actively employed or otherwise before the payment of benefits has commenced, payments to the Beneficiary shall commence on the date payments to the Participant would have commenced, taking account of the Participant’s termination of employment
(by death or before) and, if applicable, by postponing commencement until after the date the Participant would have attained the commencement age specified by the Participant. Whether the Participant dies before or after the commencement of
distributions, payments to the Beneficiary shall be made for the period or remaining period elected by the Participant. 

  
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 (b) Special Rule. Notwithstanding Section 7(a) of this Article V, in the event
that a Participant dies before the Participant’s entire Account Balance has been distributed, the Committee, in its sole discretion, may modify the timing of distributions from the Participant’s Account, including the commencement date and
number of distributions, if it concludes that such modification is necessary to relieve the financial burdens of the Participant’s Beneficiary; provided, however, that if a distribution in accordance with the provisions of this
Section 7(b) 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 any Section 16 Person shall be delayed until the earliest date upon which the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability
under Section 16(b) of the Exchange Act. 
 8. Early Distributions in Special Circumstances. Notwithstanding a
Participant’s payment elections under this Article V, a Participant or Beneficiary may request an earlier distribution in the following limited circumstances (except as provided in Section 5 of Article III with respect to Company
Deferrals): 
 (a) Hardship Distributions. A Participant may apply for a hardship distribution pursuant to
this Section 8(a) on such form and in such manner as the Committee shall prescribe and, subject to the last sentence of this Section 8(a) with respect to Section 16 Persons, the Committee shall have the power and discretion at any
time to approve a payment to a Participant if the Committee determines that the Participant is suffering from a serious financial emergency caused by circumstances beyond the Participant’s control which would cause a hardship to the Participant
unless such payment were made. Any such hardship payment will be in a lump sum and will not exceed the lesser of (i) the amount necessary to satisfy the financial emergency (taking account of the income tax liability associated with the
distribution), or (ii) the Participant’s Account Balance; provided, however, that if a distribution in accordance with the provisions of this Section 8(a) 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 transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. 

(b) Withdrawal with Forfeiture. A Participant may elect on such form and in such manner as the Committee shall
prescribe at any time to withdraw ninety percent (90%) of the amount credited to the Participant’s Account. If such a withdrawal is made, the remaining ten percent (10%) of the Participant’s Account shall be permanently
forfeited, and the Participant will be prohibited from deferring any amount under the Deferral Plan for the Award Year in which 

  
 38 

 
the withdrawal is received (or the first Award Year in which any portion of the withdrawal is received); provided, however, that if a distribution in accordance with the provisions of this
Section 8(b) 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 any Section 16 Person shall be delayed until the earliest date upon which the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability
under Section 16(b) of the Exchange Act. 
 (c) Disability. If the Committee determines that a
Participant has become permanently disabled before the Participant’s entire Account Balance has been distributed, the Committee, in its sole discretion, may modify the timing of distributions from the Participant’s Account, including the
commencement date and number of distributions, if it concludes that such modification is necessary to relieve the financial burdens of the Participant; provided, however, that if a distribution in accordance with the provisions of this
Section 8(c) 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 any Section 16 Person shall be delayed until the earliest date upon which the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability
under Section 16(b) of the Exchange Act. 
 9. Acceleration upon Change in Control. 

(a) Notwithstanding any other provision of the Deferral Plan, except as provided in Section 5 of Article III with
respect to Company Deferrals, 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 Deferral 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) 

  
 39 

 (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. 
 (c) Notwithstanding the provisions of Section 9(a), if a distribution in accordance
with the provisions of Section 9(a) would result in a nonexempt short-swing 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 short-swing transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. 

(d) This Section 9 shall apply only to a Change in Control of Lockheed Martin Corporation and shall not cause
immediate payout of Deferred Compensation 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 9 at any time prior to a Change in Control. In the event of a Change in Control, this Section 9 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 9 shall not, for purposes of Section 9, be subject to cancellation or modification during the five-year period. 

  
 40 

 10. Deductibility of Payments. In the event that the payment of benefits in
accordance with the Participant’s elections under this Article V 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 elections, 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. 
 11. 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 the Plan has or may be adversely affected by a change in the Code, Title I of the Employee Retirement Income Security Act of 1974, or other applicable law or by an administrative or judicial construction thereof, the Committee may direct
that the 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. 
 12. Tax Withholding. To the extent required by law, the
Company shall withhold from benefit payments hereunder, or with respect to any Incentive Compensation or Long Term Incentive Award payment deferred hereunder or credit contributed by the Company under Article IV, 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. 

ARTICLE VI 

EXTENT OF PARTICIPANTS’ RIGHTS 
 1. Unfunded Status of Plan. This Deferral 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 Deferral Plan. Notwithstanding the foregoing, to assist the Company in meeting
its obligations under this Deferral Plan, the Company may set aside assets in a trust described in Revenue Procedure 92-64, 1992-2 C.B. 422, and the Company may direct that its obligations under this Deferral Plan be satisfied by payments out of
such trust. The assets of any such trust will remain subject to the claims of the general creditors of the Company. It is the Company’s intention that the Deferral Plan be unfunded for Federal income tax purposes and for purposes of Title I of
the Employee Retirement Income Security Act of 1974. 

  
 41 

 2. Nonalienability of Benefits. A Participant’s rights under this Deferral 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 Deferral 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 or former spouse pursuant to the terms of a domestic relations order (as defined
in Code section 414(p)(1)(B)), provided that the form of payment designated in such order is one that is provided for under Section 3 of Article V of this Deferral Plan. 
 ARTICLE VII 
 AMENDMENT OR TERMINATION 

1. Amendment. The Board or its authorized delegate may amend, modify, suspend or discontinue this Deferral 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 Account Balance. Further, no amendment may alter the formula for crediting interest to Participants’ Accounts with respect to amounts for which deferral elections have previously been made, unless the amended
formula is not less favorable to Participants than that previously in effect, or unless each affected Participant consents to such change. 
 2. Termination. The Board reserves the right to terminate this Plan at any time and to pay all Participants their 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 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 short-swing transaction or would otherwise not result in liability
under Section 16(b) of the Exchange Act. 
 3. Transfer of Liability. The Board reserves the right to transfer to
another entity all of the obligations of Company with respect to a Participant under this Plan if such entity agrees pursuant to a binding written agreement to assume all of the obligations of the Company under this Plan with respect to such
Participant. 
 ARTICLE VIII 
 ADMINISTRATION 
 1. The Committee. This Deferral 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 Deferral Plan to comply with the disinterested administration requirements of Rule
16b-3 of the Exchange Act. The members of 

  
 42 

 
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 or its delegate shall have full authority to interpret the Plan, and interpretations of the Plan by the Committee or its delegate 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 Deferral Plan in accordance with its terms
and purpose, except that the Committee may not delegate any authority the delegation of which would cause this Deferral 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 Deferral 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 specifically relating to his or her individual rights or benefits under the Deferral 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 Deferral 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 Deferral Plan or for the failure of the Deferral Plan or any Participant’s rights under the Deferral 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 its delegate 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 its
delegate) from all liability with respect thereto. 
 5. Proof of Claims. The Committee or its delegate 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. If a claim under this Deferral Plan is denied by the Committee, the Committee or its delegate shall
communicate such denial and shall provide an opportunity to appeal such denial in a manner which the Committee deems appropriate under the circumstances, which may include following the then applicable claims procedures under the Employee Retirement
Income Security Act of 1974, as amended. 

  
 43 

 ARTICLE IX 
 GENERAL AND MISCELLANEOUS PROVISIONS 
 1. No Guarantee of Employment or
Award. Neither this Deferral Plan, a Company Deferral 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 Deferral Plan, a Company Deferral 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 Deferral Plan, a Company Deferral 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 Deferral Plan, a Company Deferral or a Deferral
Agreement, either singly or collectively, by their terms or implications in any way obligate the Company to award Incentive Compensation, grant any award under the Omnibus Plan or IPA Plan or make any Long Term Incentive Award payment to any
Eligible Employee for any Award Year, whether or not the Eligible Employee is a Participant in the Deferral Plan for that Award Year, nor in any other way limit the right of the Company to change an Eligible Employee’s compensation or other
benefits. 
 2. Affect on Retirement Plans. Neither Incentive Compensation nor Long Term Incentive Award payments
deferred under this Deferral Plan shall 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. Notice. 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 transmission, or by mailing such notice to the Participant at his or her last-known place of residence or business address. 
 4. Performance of Acts. In the event it should become impossible for the Company or the Committee to perform any act required by this Deferral 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 Deferral Plan. 
 5.
Employee Consent. By electing to become a Participant hereunder, each Eligible Employee shall be deemed conclusively to have accepted and consented to all of the terms of this Deferral Plan and all actions or decisions made by the Company,
the Board, or Committee with regard to the Deferral Plan. 
 6. Terms Binding. The provisions of this Deferral 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. 

  
 44 

 7. Copy of Plan. A copy of this Deferral Plan shall be available for inspection by
Participants or other persons entitled to benefits under the Deferral Plan at reasonable times at the offices of the Company. 

8. State Law. The validity of this Deferral 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. Regulatory Requirements. This Deferral Plan and its operation, including but
not limited to, the mechanics of deferral elections, the reallocation of all or a portion of a Participant’s Account Balance, 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. Section 16 of
Exchange Act. It is the intent of the Company that this Deferral 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 Deferral 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 Deferral 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 Deferral Plan, the provisions of this Deferral Plan may at any time be bifurcated by the
Board or the Committee in any manner so that certain provisions of this Deferral Plan are applicable solely to Section 16 Persons. Notwithstanding any other provision of this Deferral 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 Deferral 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. 
 11. Securities Laws. This Deferral Plan, allocations
to and from the Company Stock Investment Option and the issuance and delivery of shares of Common Stock and/or other securities or property or the payment of cash under this Deferral Plan, are 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 

  
 45 

 
Federal margin requirements) and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company be necessary or advisable to comply with
all legal requirements. Any securities delivered under this Deferral Plan shall be subject to such restrictions (and the person acquiring such securities shall, if requested by the Company provide such evidence, assurance and representations to the
Company as to compliance with any thereof) as counsel to the Company may deem necessary or desirable to assure compliance with all applicable legal requirements. 
 12. 1995 Awards. Notwithstanding any other provision of this Deferral Plan, each Eligible Employee who is a Section 16 Person and has entered into a Deferral Agreement prior to the initial
distribution of a prospectus relating to this Deferral Plan shall be entitled, during a ten-business-day period following the initial distribution of that prospectus, to make an irrevocable election to (i) receive a distribution of all or any
portion of his or her Account Balance attributable to Deferred Compensation for the 1995 Award Year during the seventh month following the month of the election, or (ii) reallocate all or any part of his or her Account Balance attributable to
Deferred Compensation for the 1995 Award Year to a different investment option as of the end of the sixth month following the month of the election. 
 13. Limits on Accounts. At no time shall the aggregate Account Balances of all Participants to the extent allocated to the Company Stock Investment Option exceed an amount equal to the then fair
market value of 5,000,000 shares of the Company’s Common Stock, nor shall the cumulative amount of Incentive Compensation and Long Term Incentive Award payments deferred under this Deferral Plan by all Eligible Employees for all Award Years
exceed $250,000,000. 
 14. Electronic Notice and Signatures. Whenever a signature notice or delivery of a document is
required or appropriate under this Deferral Plan, signature, notice or delivery may be accomplished by paper or written format or, to the extent authorized by the Committee, by electronic means. In the event the Committee authorizes electronic means
for the signature, notice or delivery of a document under this Deferral Plan, the electronic record or confirmation of that signature, notice or delivery maintained by or on behalf of the Committee shall for purposes of this Deferral Plan be treated
as if it was a written signature or notice and was delivered in the manner provided herein for a written document. 
 ARTICLE
X 
 EFFECTIVE DATE AND SHAREHOLDER APPROVAL 
 This Deferral Plan was adopted by the Board on July 27, 1995 and became effective upon adoption to awards of Incentive Compensation for the Company’s fiscal year ending December 31, 1995
and subsequent fiscal years; provided, however, that with respect to Section 16 Persons, the availability of the Company Stock Investment Option is conditioned upon the approval of this Deferral Plan by the stockholders of Lockheed Martin
Corporation. In the event that this Deferral Plan is not approved by the stockholders, then Section 16 Persons shall not be entitled to have Deferred Compensation allocated to the Company Stock Investment Option; any prior elections by
Section 16 Persons to have allocations made to the Company 

  
 46 

 
Stock Investment Option shall retroactively be deemed ineffective, and the Account Balances of those Section 16 Persons shall be restated as if all of their Deferred Compensation had been
allocated to the Interest Option at all times. Subsequent amendments to the Deferral Plan are effective as of the date stated in the amendment or the adopting resolution. 
 This Deferral Plan has been amended and restated effective as of the date stated on the first page herein. 

  
 47Exhibit 10.39

 Exhibit 10.39 
 RSU Domestic (nonperformance) 
 Award Date: January 30, 2012 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 
 THE SECURITIES ACT OF 1933

 Dear Awardee: 

The Management Development and Compensation Committee of the Board of Directors (“Committee”) has awarded you Restricted Stock
Units (“RSUs”). Each RSU entitles you, upon satisfaction of the continuous employment and other requirements set forth in this letter and the Plan, to receive from Lockheed Martin Corporation (“Corporation”): (i) one
(1) share of the Corporation’s common stock, par value $1.00 per share, (“Stock”); and (ii) a cash payment equal to the sum of any cash dividends paid to stockholders of the Corporation during the Restricted Period (as
defined below), each in accordance with the terms of this letter, the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (“Plan”), and any rules and procedures adopted by the Committee. 

This letter constitutes the Award Agreement for your RSUs and sets forth some of the terms and conditions of your Award under the Plan,
as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the Plan and this Award Agreement are a part. In the event of a conflict between this letter and the Plan,
the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 
 The term Restricted Stock
Unit or RSU as used in this Award Agreement refers only to the Restricted Stock Units awarded to you under this Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 

Your Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic
receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper
acknowledgement of your acceptance of this Award Agreement as described, this Award will be effective as of the Award Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with
respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A (“Stock Ownership Requirements”). 
 If you do not properly acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be forfeited. 

 Award Date: January 30, 2012 
 Page 2 
  

 CONSIDERATION FOR AWARD 
 The consideration for the Restricted Stock Units is your continued service to the Corporation as an Employee during the Restricted Period set forth below. If you do not continue to perform services for
the Corporation as an Employee during the entire Restricted Period as set forth below under “RESTRICTED PERIOD, FORFEITURE,” your Award will be forfeited in whole or in part. 
 RIGHTS OF OWNERSHIP, RESTRICTIONS ON TRANSFER 
 During the Restricted
Period, your RSUs will be subject to forfeiture. Until the Restricted Period ends with respect to a particular RSU and a share of Stock is delivered to you, you generally will not have the rights and privileges of a stockholder. In particular, you
will not have the right to vote your RSUs on any matter put to the stockholders of the Corporation; you may not sell, transfer, assign, pledge, use as collateral or otherwise dispose of or encumber RSUs; and you will not have the right to receive
any dividends or dividend equivalents on the RSUs or the right to receive any dividend paid to stockholders on a share of Stock. 
 Upon expiration or termination of the Restricted Period with respect to your RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be
exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Stock issued in your name (or other name(s) designated by you) and a cash payment equal to the dividends that would have been paid to you had you owned
such share from the Award Date until the expiration or termination of the Restricted Period (“Accrued Dividend Equivalents”). Your shares and the cash payment for the Accrued Dividend Equivalents will be delivered to you as soon as
practicable, but no later than ninety (90) days after the expiration or termination of the Restricted Period. 
 The
certificates delivered to you may contain any legend the Corporation determines is appropriate under the securities laws. At the time the Restricted Period for your RSUs terminates, the Corporation is required to collect from you the appropriate
amount of federal, state and local taxes with respect to both the shares delivered and the cash payment for the Accrued Dividend Equivalents. The Corporation may be required to collect FICA taxes from you prior to the termination of the Restricted
Period if you become eligible for retirement prior to the termination of that period. In this regard, please see “TIMING OF TAXATION AND WITHHOLDING” below. 
 In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on account of a termination of employment, delivery of Stock and the Accrued Dividend
Equivalents may be delayed for six months from such date; similarly, if you are an Insider subject to the reporting provisions of Section 16(a) of the Securities Exchange Act of 1934, delivery of Stock following the expiration of the Restricted
Period for any reason may be delayed for six months. You will be notified if you are a specified employee for purposes of section 409A. 

  

 Award Date: January 30, 2012 
 Page 3 
  

 After the Stock is delivered to you, you (or your designee(s)) will enjoy all of the
rights and privileges associated with ownership of the shares, including the right to vote on any matter put to stockholder vote, to receive dividends, and to encumber, sell or otherwise transfer the shares. You should note, however, that, while the
shares would thus be free of the restrictions imposed during the Restricted Period, your ability to sell or pledge the shares may be limited under the federal securities laws or corporate policy. 

You have the right to designate a beneficiary (or beneficiaries) to receive your shares in exchange for your RSUs and cash in respect of
the Accrued Dividend Equivalents in the event of your death during the Restricted Period by completing a beneficiary designation form available at http://www.benefitaccess.com and returning it to the Vice President of Total Rewards and
Performance Management at the address below. 
 If, at your death, a completed beneficiary designation form is not on file at
the Vice President of Total Rewards and Performance Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the Accrued Dividend Equivalents in respect of your RSUs will be transferred to your estate.

 RESTRICTED PERIOD, FORFEITURE 
 The vesting of the RSUs awarded under this Award Agreement along with the Accrued Dividend Equivalents is subject to your acceptance of this Award Agreement by May 31, 2012 and your continuous
employment with the Corporation from the Award Date until January 30, 2015 (the “Restricted Period”). All of your RSUs will be forfeited and all of your rights to the RSUs and to receive Stock for your RSUs and to receive cash payment
for the Accrued Dividend Equivalents will cease without further obligation on the part of the Corporation unless you personally accept this Award Agreement as provided below by May 31, 2012 and continue to provide services to the Corporation as
an Employee of the Corporation until the expiration or termination of the Restricted Period, which will occur on January 30, 2015, subject only to the specific exceptions provided below. 
 DEATH, DISABILITY, LAYOFF, RETIREMENT 
 1. Death and Disability

 Your RSUs and the Accrued Dividend Equivalents will immediately vest and no longer be subject to the continuing employment
requirement if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

  

 Award Date: January 30, 2012 
 Page 4 
  

 The vested RSUs will be exchanged for shares of Stock, and the Accrued Dividend
Equivalents will be paid in cash as soon as practicable, but no later than ninety (90) days after the date of your termination of employment on account of death or total disability, and in no event later than the March 15 next following
the year in which such termination occurs. 
 In the event that you die and have not properly acknowledged acceptance of the
Award prior to your death (or by May 31, 2012, whichever comes first), you will forfeit all of your RSUs granted hereunder and all of your rights to the RSUs and to receive Stock for your RSUs and the Accrued Dividend Equivalents will cease
without further obligation on the part of the Corporation. 
 2. Retirement, Lay Off 

If you retire or are laid off with an effective date before January 30, 2013, you will forfeit all of your RSUs and the Accrued
Dividend Equivalents in accordance with the general rule requiring continuous employment during the Restricted Period. If you retire or are laid off with an effective date on or after January 30, 2013, the Restricted Period will end for a
portion of your RSUs and the Accrued Dividend Equivalents and you will vest in a portion of your RSUs and the Accrued Dividend Equivalents as follows: 
  

	 	(i)	you will vest in one third (1/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that one-third) if your retirement or layoff is
effective on or after the first anniversary of the Award Date (January 30, 2013), but before the second anniversary of the Award Date (January 30, 2014); and 

 

	 	(ii)	you will vest in two thirds (2/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that two-thirds) if your retirement or layoff is
effective on or after the second anniversary of the Award Date (January 30, 2014) but before the third anniversary of the Award Date (January 30, 2015). 

 The vested RSUs will be exchanged for shares of Stock, and the related Accrued Dividend Equivalents associated with the vested portion of your RSUs will be paid in cash as soon as practicable, but no
later than ninety (90) days after your retirement or layoff, and in no event later than the March 15 next following the year in which you retire or are laid off. You will forfeit your remaining RSUs and the related Accrued Dividend
Equivalents associated with forfeited RSUs on the effective date of your retirement or layoff. 
 For purposes of this
provision, the term “retirement” means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined
benefit pension plans, termination following attainment of (i) age 55 and five years of service, or (ii) age 65. 

  

 Award Date: January 30, 2012 
 Page 5 
  

 RESIGNATION OR TERMINATION WITH OR WITHOUT CAUSE 

If you resign or your employment otherwise terminates before January 30, 2015, other than on account of death, disability, layoff, or
retirement (or Divestiture or Change in Control as described below) whether voluntarily or by action of the Corporation and in the latter case whether with or without “cause,” you will forfeit your RSUs and the related Accrued Dividend
Equivalents on the date of your termination. 
 DIVESTITURE 
 If the Corporation divests (as defined below) all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or
its subsidiaries and the transfer of such employment to the other party to the divestiture, the special rules in this paragraph will apply. Your RSUs and the Accrued Dividend Equivalents will vest immediately and you will receive shares of Stock in
exchange for RSUs and the cash payment for the Accrued Dividend Equivalents as soon as practicable, but no later than ninety (90) days after your termination of employment with the Corporation, and in no event later than the March 15 next
following the year in which your employment terminates. For the purposes of this provision, the term “divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person,
corporation, association, partnership, joint venture, limited liability company or other business entity of which less than 50% of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled
directly or indirectly by the Corporation, by one or more of the Corporation’s subsidiaries or by a combination thereof. 
 CHANGE IN
CONTROL 
 In the event your employment is terminated by the Corporation (or its successor) following a Change in Control,
your RSUs and the Accrued Dividend Equivalents will vest and the Restricted Period shall terminate on the date of your termination following the Change in Control. 
 CHANGES IN CAPITALIZATION 
 In the event of a stock split, stock dividend or
other similar action resulting in additional shares of Stock being issued to existing stockholders during the Restricted Period or in the event of a reverse stock split resulting in a contraction in the number of shares outstanding during the
Restricted Period, the number of your RSUs will be adjusted in the same manner as if you held actual shares of Stock. 
 TIMING OF TAXATION
AND WITHHOLDING 
 Upon the expiration or termination of the Restricted Period, the Fair Market Value of the Stock
deliverable to you in respect of the RSUs will be taxable to you as compensation income, based on the Fair Market Value of Stock on the day the Stock is deliverable to you. We will 

  

 Award Date: January 30, 2012 
 Page 6 
  

 
withhold federal, state, and local income taxes at the minimum rate prescribed by law. Therefore, you may owe taxes relating to the RSUs in addition to the amount withheld by the Corporation.
FICA tax withholding also will apply except to the extent FICA taxes have already been collected in the case of retirement-eligible employees as described below. 
 Your tax basis in shares of Stock delivered to you in respect of the RSUs will be equal to the Fair Market Value of such shares on the day the Stock is deliverable to you. Your holding period for purposes
of determining long-term capital gain or loss treatment on any subsequent sale of such Stock will begin on that day. 
 Any cash
paid to you as Accrued Dividend Equivalents will be taxable to you as compensation income in the year paid and subject to withholding of federal, state and local income taxes, and FICA taxes. The Corporation will withhold taxes on the Accrued
Dividend Equivalents by reducing the cash payable to you, except to the extent FICA taxes have already been collected in the case of retirement-eligible employees as described below. The Corporation may elect to apply all or part of the Accrued
Dividend Equivalents to tax withholding on the Stock, in which case you may not receive any cash for the Accrued Dividend Equivalents. 
 Unless you deliver cash to the Corporation to satisfy any withholding tax on Stock deliverable to you in respect of vested RSUs in accordance with procedures established in advance by the
Corporation’s Senior Vice President of Human Resources, you will be deemed to have automatically elected to pay any withholding tax (net of any Accrued Dividend Equivalents applied to withholding) on Stock deliverable to you by means of the
Corporation reducing the number of shares of Stock deliverable to you in respect of vested RSUs, based upon the minimum rate of withholding prescribed by law. 
 In the event you are or become eligible for retirement during the Restricted Period, a portion of your Award will become subject to FICA taxes prior to the termination of the Restricted Period.
FICA taxes will be withheld with respect to the number of RSUs on which the Restricted Period would terminate if you were to retire. The FICA tax will also apply to any Accrued Dividend Equivalents related to the portion of your RSUs subject to
FICA. As an administrative practice in accordance with IRS regulations, the Corporation generally will delay application of these FICA taxes on retirement-eligible participants until December of the year of withholding (or when the Stock is
deliverable, if earlier). FICA taxes will be computed based upon the Fair Market Value of the Stock and the Accrued Dividend Equivalents on the date of withholding. For example, if you are eligible to retire during the Restricted Period, then you
would become subject to FICA taxes on the later of the first anniversary of the Award Date or the date that you become retirement eligible, and FICA taxes would be withheld even though Stock and the Accrued Dividend Equivalents would not be
deliverable to you until the close of the Restricted Period. The Corporation will withhold such FICA tax from your regular wages or MICP payment. The Corporation may collect the FICA withholding from you either shortly before or after the date it is
due and in the case of Insiders may require delivery of a check to satisfy any shortfall in the withholding. 

  

 Award Date: January 30, 2012 
 Page 7 
  

 If Code Section 409A(a)(2)(B)(i) applies because you are a specified employee
receiving Stock on account of a termination of employment or if you are an Insider, your Stock and the Accrued Dividend Equivalents may not be deliverable to you for six months following such date of termination and, accordingly, the Fair Market
Value of the Stock on the date on which the Stock is deliverable to you and the Accrued Dividend Equivalents (accrued through the date the Stock becomes deliverable to you) shall be used for purposes of determining your compensation income.

 AMENDMENT AND TERMINATION OF PLAN OR AWARDS 
 As provided in Section 9 of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee
may at any time alter or amend this Award Agreement. Notwithstanding Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written
consent, adversely affect your rights under this Award Agreement. This Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 

ACCEPTANCE OF AWARD 
 No
Award is enforceable until you properly acknowledge your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but
in no event later than May 31, 2012. Acceptance of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your
disability or deployment in the Armed Forces (and not by your estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized
electronic means for the delivery and acceptance of this Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this
letter on or before May 31, 2012 as follows: 
  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Assuming prompt and proper acknowledgment of this Award Agreement as
described, this Award will be effective as of the Award Date. 
 By executing this Award Agreement, you consent to receive
copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address
noted above. 

  

 Award Date: January 30, 2012 
 Page 8 
  

 If you do not personally acknowledge your acceptance of this Award Agreement on or
before May 31, 2012, this Award will be forfeited as noted above. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit A and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 If you
are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 

Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that
any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. Neither the value of the RSUs awarded to you nor the Accrued
Dividend Equivalents will be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. Notwithstanding any other provision of this Award Agreement to the contrary, no Stock will be issued to you
within six months from the Award Date. 
 Transactions involving Stock delivered under this Award Agreement are subject to the
securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The
Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or RSUs. 

  

 Award Date: January 30, 2012 
 Page 9 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	Sincerely,
	
	David Filomeo
	 (On behalf of the Management

Development and Compensation

Committee)

 (For written acceptance, please complete, sign and return by mail.) 

 

					
	 Acknowledged by:
	 		  	
			
	  
 Signature
	 		  	  
 Date

			
	  
 Print Name
	 		  	  
 Employee
ID

  

 Award Date: January 30, 2012 
 Page 10 
  

 Exhibit A 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	 Annual Base Pay Multiple

	Chief Executive Officer	  	6 times
	President/Chief Operating Officer	  	5 times
	Chief Financial Officer	  	4 times
	Business Area Executive Vice Presidents	  	3 times
	Corporate Senior Vice Presidents	  	2 times
	Other Elected Officers	  	2 times
	All Other Vice Presidents	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

  

 RSU Int’l (nonperformance) 
 Award Date: January 30, 2012 
 THIS DOCUMENT CONSTITUTES PART OF A
PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 

THE SECURITIES ACT OF 1933 

Dear Awardee: 
 The Management
Development and Compensation Committee of the Board of Directors (“Committee”) has awarded you Restricted Stock Units (“RSUs”). Each RSU entitles you, upon satisfaction of the continuous employment and other requirements set
forth in this letter and the Plan, to receive from Lockheed Martin Corporation (“Corporation”): (i) one (1) share of the Corporation’s common stock, par value $1.00 per share, (“Stock”); and (ii) a cash
payment equal to the sum of any cash dividends paid to stockholders of the Corporation during the Restricted Period (as defined below), each in accordance with the terms of this letter, the Lockheed Martin Corporation 2011 Incentive Performance
Award Plan (“Plan”), and any rules and procedures adopted by the Committee. 
 This letter constitutes the Award
Agreement for your RSUs and sets forth some of the terms and conditions of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the
Plan and this Award Agreement are a part. In the event of a conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 

The term Restricted Stock Unit or RSU as used in this Award Agreement refers only to the Restricted Stock Units awarded to you under this
Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 
 Your
Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance
Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement as described, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. 
 If you do not properly acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be forfeited. 

 Award Date: January 30, 2012 
 Page 2 
  

 CONSIDERATION FOR AWARD 
 The consideration for the Restricted Stock Units is your continued service to the Corporation as an Employee during the Restricted Period set forth below. If you do not continue to perform services for
the Corporation as an Employee during the entire Restricted Period as set forth below under “RESTRICTED PERIOD, FORFEITURE,” your Award will be forfeited in whole or in part. 
 RIGHTS OF OWNERSHIP, RESTRICTIONS ON TRANSFER 
 During the Restricted
Period, your RSUs will be subject to forfeiture. Until the Restricted Period ends with respect to a particular RSU and a share of Stock is delivered to you, you generally will not have the rights and privileges of a stockholder. In particular, you
will not have the right to vote your RSUs on any matter put to the stockholders of the Corporation; you may not sell, transfer, assign, pledge, use as collateral or otherwise dispose of or encumber RSUs; and you will not have the right to receive
any dividends or dividend equivalents on the RSUs or the right to receive any dividend paid to stockholders on a share of Stock. 
 Upon expiration or termination of the Restricted Period with respect to your RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be
exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Stock issued in your name (or other name(s) designated by you) and a cash payment equal to the dividends that would have been paid to you had you owned
such share from the Award Date until the expiration or termination of the Restricted Period (“Accrued Dividend Equivalents”). Your shares and the cash payment for the Accrued Dividend Equivalents will be delivered to you as soon as
practicable, but no later than ninety (90) days after the expiration or termination of the Restricted Period. 
 The
certificates delivered to you may contain any legend the Corporation determines is appropriate under the securities laws. At the time the Restricted Period for your RSUs terminates, the Corporation may be required to collect from you the appropriate
amount of income taxes and social insurance contributions with respect to both the shares delivered and the cash payment for the Accrued Dividend Equivalents. In this regard, please see “TIMING OF TAXATION AND WITHHOLDING” below.

 In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on account
of a termination of employment, delivery of Stock and the Accrued Dividend Equivalents may be delayed for six months from such date; similarly, if you are an Insider subject to the reporting provisions of Section 16(a) of the Securities
Exchange Act of 1934, delivery of Stock following the expiration of the Restricted Period for any reason may be delayed for six months. You will be notified if you are a specified employee for purposes of section 409A. 

After the Stock is delivered to you, you (or your designee(s)) will enjoy all of the rights and privileges associated with ownership of
the shares, including the right to vote on any matter 

  

 Award Date: January 30, 2012 
 Page 3 
  

 
put to stockholder vote, to receive dividends, and to encumber, sell or otherwise transfer the shares. You should note, however, that, while the shares would thus be free of the restrictions
imposed during the Restricted Period, your ability to sell or pledge the shares may be limited under the federal securities laws or corporate policy. 
 You have the right to designate a beneficiary (or beneficiaries) to receive your shares in exchange for your RSUs and cash in respect of the Accrued Dividend Equivalents in the event of your death during
the Restricted Period by completing a beneficiary designation form available at http://www.benefitaccess.com and returning it to the Vice President of Total Rewards and Performance Management at the address below. 

If, at your death, a completed beneficiary designation form is not on file at the Vice President of Total Rewards and Performance
Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the Accrued Dividend Equivalents in respect of your RSUs will be transferred to your estate. 
 RESTRICTED PERIOD, FORFEITURE 
 The vesting of the RSUs awarded under this
Award Agreement along with the Accrued Dividend Equivalents is subject to your acceptance of this Award Agreement by May 31, 2012 and your continuous employment with the Corporation from the Award Date until January 30, 2015 (the
“Restricted Period”). All of your RSUs will be forfeited and all of your rights to the RSUs and to receive Stock for your RSUs and to receive cash payment for the Accrued Dividend Equivalents will cease without further obligation on the
part of the Corporation unless you personally accept this Award Agreement as provided below by May 31, 2012 and continue to provide services to the Corporation as an Employee of the Corporation until the expiration or termination of the
Restricted Period, which will occur on January 30, 2015, subject only to the specific exceptions provided below. 
 DEATH, DISABILITY,
LAYOFF, RETIREMENT 
 1. Death and Disability 

Your RSUs and the Accrued Dividend Equivalents will immediately vest and no longer be subject to the continuing employment requirement if:

  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

  

 Award Date: January 30, 2012 
 Page 4 
  

 The vested RSUs will be exchanged for shares of Stock, and the Accrued Dividend
Equivalents will be paid in cash as soon as practicable, but no later than ninety (90) days after the date of your termination of employment on account of death or total disability, and in no event later than the March 15 next following
the year in which such termination occurs. 
 In the event that you die and have not properly acknowledged acceptance of the
Award prior to your death (or by May 31, 2012, whichever comes first), you will forfeit all of your RSUs granted hereunder and all of your rights to the RSUs and to receive Stock for your RSUs and the Accrued Dividend Equivalents will cease
without further obligation on the part of the Corporation. 
 2. Retirement, Lay Off 

If you retire or are laid off with an effective date before January 30, 2013, you will forfeit all of your RSUs and the Accrued
Dividend Equivalents in accordance with the general rule requiring continuous employment during the Restricted Period. If you retire or are laid off with an effective date on or after January 30, 2013, the Restricted Period will end for a
portion of your RSUs and the Accrued Dividend Equivalents and you will vest in a portion of your RSUs and the Accrued Dividend Equivalents as follows: 
  

	 	(i)	you will vest in one third (1/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that one-third) if your retirement or layoff is
effective on or after the first anniversary of the Award Date (January 30, 2013), but before the second anniversary of the Award Date (January 30, 2014); and 

 

	 	(ii)	you will vest in two thirds (2/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that two-thirds) if your retirement or layoff is
effective on or after the second anniversary of the Award Date (January 30, 2014) but before the third anniversary of the Award Date (January 30, 2015). 

 The vested RSUs will be exchanged for shares of Stock, and the related Accrued Dividend Equivalents associated with the vested portion of your RSUs will be paid in cash as soon as practicable, but no
later than ninety (90) days after your retirement or layoff, and in no event later than the March 15 next following the year in which you retire or are laid off. You will forfeit your remaining RSUs and the related Accrued Dividend
Equivalents associated with forfeited RSUs on the effective date of your retirement or layoff. 
 For purposes of this
provision, the term “retirement” means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined
benefit pension plans, termination following attainment of (i) age 55 and five years of service, or (ii) age 65. 

  

 Award Date: January 30, 2012 
 Page 5 
  

 RESIGNATION OR TERMINATION WITH OR WITHOUT CAUSE 

If you resign or your employment otherwise terminates before January 30, 2015, other than on account of death, disability, layoff, or
retirement (or Divestiture or Change in Control as described below) whether voluntarily or by action of the Corporation and in the latter case whether with or without “cause,” you will forfeit your RSUs and the related Accrued Dividend
Equivalents on the date of your termination. 
 DIVESTITURE 
 If the Corporation divests (as defined below) all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or
its subsidiaries and the transfer of such employment to the other party to the divestiture, the special rules in this paragraph will apply. Your RSUs and the Accrued Dividend Equivalents will vest immediately and you will receive shares of Stock in
exchange for RSUs and the cash payment for the Accrued Dividend Equivalents as soon as practicable, but no later than ninety (90) days after your termination of employment with the Corporation, and in no event later than the March 15 next
following the year in which your employment terminates. For the purposes of this provision, the term “divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person,
corporation, association, partnership, joint venture, limited liability company or other business entity of which less than 50% of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled
directly or indirectly by the Corporation, by one or more of the Corporation’s subsidiaries or by a combination thereof. 
 CHANGE IN
CONTROL 
 In the event your employment is terminated by the Corporation (or its successor) following a Change in Control,
your RSUs and the Accrued Dividend Equivalents will vest and the Restricted Period shall terminate on the date of your termination following the Change in Control. 
 CHANGES IN CAPITALIZATION 
 In the event of a stock split, stock dividend or
other similar action resulting in additional shares of Stock being issued to existing stockholders during the Restricted Period or in the event of a reverse stock split resulting in a contraction in the number of shares outstanding during the
Restricted Period, the number of your RSUs will be adjusted in the same manner as if you held actual shares of Stock. 
 TIMING OF TAXATION
AND WITHHOLDING 
 The Corporation will withhold applicable taxes as required by law. You agree to make appropriate
arrangements with the Corporation for the satisfaction of all income and employment tax withholding requirements as well as social insurance contributions applicable to the RSUs, 

  

 Award Date: January 30, 2012 
 Page 6 
  

 
and the Accrued Dividend Equivalents, and associated Stock (“RSU Taxes”). In this regard, you authorize the Corporation to withhold all RSU Taxes legally payable by you from your wages
or other cash compensation paid to you by the Corporation or, if permissible under applicable legal requirements, from the Accrued Dividend Equivalents or proceeds from the vesting of the RSUs or the sale of the underlying Stock in an amount
sufficient to cover the RSU Taxes. You acknowledge and agree that the Corporation may refuse to deliver Stock if such withholding amounts are not delivered at the time of vesting or payment. To the extent that the amounts withheld by the Corporation
are insufficient to satisfy the RSU Taxes, you shall pay to the Corporation any additional amount of the RSU Taxes that may be required to be withheld as a result of your participation in the Plan. You acknowledge and agree that withholding
obligations may change from time to time as laws or their interpretations change, and regardless of the Corporation’s actions with respect to the RSU Taxes, the ultimate liability for any and all RSU Taxes is and shall remain your
responsibility, and that the Corporation (a) makes no representation or undertaking regarding the treatment of any RSU Taxes in connection with any aspect of the grant of the RSUs, including the payment of the Accrued Dividend Equivalents, the
grant or vesting of the RSUs, and the subsequent sale of Stock acquired under the Plan; and (b) does not commit to structure the terms of the grant or any aspect of the RSUs to reduce or eliminate your liability for RSU Taxes. 

You understand that you may suffer adverse tax consequences as a result of your purchase or disposition of the Stock. You represent that
you will consult with your own tax advisors in connection with the purchase or disposition of the Stock and that you are not relying on the Corporation for any tax advice. 
 If Code Section 409A(a)(2)(B)(i) applies because you are a specified employee receiving Stock on account of a termination of employment or if you are an Insider, your Stock and the Accrued Dividend
Equivalents may not be deliverable to you for six months following such date of termination and, accordingly, the Fair Market Value of the Stock on the date on which the Stock is deliverable to you and the Accrued Dividend Equivalents (accrued
through the date the Stock becomes deliverable to you) shall be used for purposes of determining your compensation income. 
 AMENDMENT AND
TERMINATION OF PLAN OR AWARDS 
 As provided in Section 9 of the Plan, subject to certain limitations contained within
Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement. Notwithstanding Section 9 of the Plan, no such amendment, suspension or
discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award Agreement. This Award Agreement shall not be amended or interpreted in a manner
that is reasonably believed to result in the imposition of tax under Code section 409A. 

  

 Award Date: January 30, 2012 
 Page 7 
  

 DATA PRIVACY CONSENT 
 You hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this Award Agreement by and among the Corporation
for the exclusive purpose of implementing, administering and managing your participation in the Plan. 
 You understand that the
Corporation holds certain personal information about you, including, but not limited to, your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares
or directorships held in the Corporation, details of all awards or any other entitlement to shares awarded, canceled, exercised, vested, unvested or outstanding in your favor, for the purpose of implementing, administering and managing the Plan
(“Data”). You understand that Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in your country or elsewhere, and that the
recipient’s country may have different data privacy laws and protections than your country. You understand that you may request a list with the names and addresses of any potential recipients of the Data by contacting your local human resources
representative. You authorize the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan, including any requisite
transfer of such Data as may be required to a broker or other third party with whom the Corporation may elect to administer the settlement of any award. You understand that Data will be held only as long as is necessary to implement, administer and
manage your participation in the Plan. You understand that you may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein,
in any case without cost, by contacting in writing your local human resources representative. You understand, however, that refusing or withdrawing your consent may affect your ability to participate in the Plan. For more information on the
consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either 

  

 Award Date: January 30, 2012 
 Page 8 
  

 
electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows: 
  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Assuming prompt and proper acknowledgment of this Award Agreement as
described, this Award will be effective as of the Award Date. 
 By executing this Award Agreement, you consent to receive
copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address
noted above. 
 If you do not personally acknowledge your acceptance of this Award Agreement on or before May 31, 2012,
this Award will be forfeited as noted above. 
 EMPLOYEE ACKNOWLEDGMENT 

You acknowledge and agree as follows: 
 (a) the Plan is discretionary in nature and that the Committee may amend, suspend, or terminate it at any time; 
 (b) the grant of the RSUs are voluntary and occasional and does not create any contractual or other right to receive future grants of any RSUs, or benefits in lieu of any RSUs even if RSUs have been
granted repeatedly in the past; 
 (c) all determinations with respect to such future RSUs, if any, including but not limited to
the times when RSUs shall be granted or when RSUs shall vest, will be at the sole discretion of the Committee; 
 (d) your
participation in the Plan is voluntary; 
 (e) the value of the RSUs are an extraordinary item of compensation, which is outside
the scope of your employment contract (if any), except as may otherwise be explicitly provided in your employment contract; 

(f) the RSUs are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculating
termination, severance, resignation, redundancy, end of service, or similar payments, or bonuses, long-service awards, pension or retirement benefits; 

  

 Award Date: January 30, 2012 
 Page 9 
  

 (g) the RSUs shall expire upon termination of your employment for any reason except as
may otherwise be explicitly provided in the Plan and this Award Agreement; 
 (h) the future value of the shares is unknown and
cannot be predicted with certainty; and 
 (i) no claim or entitlement to compensation or damages arises from the termination of
the RSUs or diminution in value of the RSUs or Stock and you irrevocably release the Corporation and your employer from any such claim that may arise. 
 MISCELLANEOUS 
 If you are on leave of absence, for the purposes of the
Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 
 Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that any future awards will be made to you under the Plan. In addition,
nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. Neither the value of the RSUs awarded to you nor the Accrued Dividend Equivalents will be taken into account for other benefits
offered by the Corporation, including but not limited to pension benefits. Notwithstanding any other provision of this Award Agreement to the contrary, no Stock will be issued to you within six months from the Award Date. 

Transactions involving Stock delivered under this Award Agreement are subject to U.S. securities laws and CPS 722. Among other things,
CPS 722 prohibits employees of the Corporation from engaging in transactions that violate U.S. securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The Corporation recommends that Insiders consult
with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or RSUs. 

  

 Award Date: January 30, 2012 
 Page 10 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	 Sincerely,

	
	 David Filomeo

	(On behalf of the Management Development and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
			
	  
 Signature
	 		  	  
 Date

			
	  
 Print Name
	 		  	  
 Employee
ID

  

 RSU PECA CEO (performance) 
 Award Date: January 30, 2012 
 THIS DOCUMENT CONSTITUTES PART OF A
PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 

THE SECURITIES ACT OF 1933 

Dear Awardee: 
 The Management
Development and Compensation Committee of the Board of Directors (“Committee”) has awarded you Restricted Stock Units (“RSUs”). Each RSU entitles you, upon satisfaction of the continuous employment and other requirements set
forth in this letter and the Plan, to receive from Lockheed Martin Corporation (“Corporation”): (i) one (1) share of the Corporation’s common stock, par value $1.00 per share, (“Stock”); and (ii) a cash
payment equal to the sum of any cash dividends paid to stockholders of the Corporation during the Restricted Period (as defined below), each in accordance with the terms of this letter, the Lockheed Martin Corporation 2011 Incentive Performance
Award Plan (“Plan”), and any rules and procedures adopted by the Committee. 
 This letter constitutes the Award
Agreement for your RSUs and sets forth some of the terms and conditions of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the
Plan and this Award Agreement are a part. In the event of a conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 

The term Restricted Stock Unit or RSU as used in this Award Agreement refers only to the Restricted Stock Units awarded to you under this
Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 
 Your
Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance
Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement as described, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 
 If you do not
properly acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be forfeited. 

 Award Date: January 30, 2012 
 Page 2 
  

 CONSIDERATION FOR AWARD 
 The consideration for the Restricted Stock Units is your continued service to the Corporation as an Employee during the Restricted Period set forth below. If you do not continue to perform services for
the Corporation as an Employee during the entire Restricted Period as set forth below under “RESTRICTED PERIOD, FORFEITURE,” your Award will be forfeited in whole or in part. 
 RIGHTS OF OWNERSHIP, RESTRICTIONS ON TRANSFER 
 During the Restricted
Period, your RSUs will be subject to forfeiture. Until the Restricted Period ends with respect to a particular RSU and a share of Stock is delivered to you, you generally will not have the rights and privileges of a stockholder. In particular, you
will not have the right to vote your RSUs on any matter put to the stockholders of the Corporation; you may not sell, transfer, assign, pledge, use as collateral or otherwise dispose of or encumber RSUs; and you will not have the right to receive
any dividends or dividend equivalents on the RSUs or the right to receive any dividend paid to stockholders on a share of Stock. 
 Upon expiration or termination of the Restricted Period with respect to your RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be
exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Stock issued in your name (or other name(s) designated by you) and a cash payment equal to the dividends that would have been paid to you had you owned
such share from the Award Date until the expiration or termination of the Restricted Period (“Accrued Dividend Equivalents”). Your shares and the cash payment for the Accrued Dividend Equivalents will be delivered to you as soon as
practicable, but no later than ninety (90) days after the expiration or termination of the Restricted Period. 
 The
certificates delivered to you may contain any legend the Corporation determines is appropriate under the securities laws. At the time the Restricted Period for your RSUs terminates, the Corporation is required to collect from you the appropriate
amount of federal, state and local taxes with respect to both the shares delivered and the cash payment for the Accrued Dividend Equivalents. The Corporation may be required to collect FICA taxes from you prior to the termination of the Restricted
Period if you become eligible for retirement prior to the termination of that period. In this regard, please see “TIMING OF TAXATION AND WITHHOLDING” below. 
 In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on account of a termination of employment, delivery of Stock and the Accrued Dividend
Equivalents may be delayed for six months from such date; similarly, if you are an Insider subject to the reporting provisions of Section 16(a) of the Securities Exchange Act of 1934, delivery of Stock following the expiration of the Restricted
Period for any reason may be delayed for six months. You will be notified if you are a specified employee for purposes of section 409A. 

 Award Date: January 30, 2012 
 Page 3 
  

 After the Stock is delivered to you, you (or your designee(s)) will enjoy all of the
rights and privileges associated with ownership of the shares, including the right to vote on any matter put to stockholder vote, to receive dividends, and to encumber, sell or otherwise transfer the shares. You should note, however, that, while the
shares would thus be free of the restrictions imposed during the Restricted Period, your ability to sell or pledge the shares may be limited under the federal securities laws or corporate policy. 

You have the right to designate a beneficiary (or beneficiaries) to receive your shares in exchange for your RSUs and cash in respect of
the Accrued Dividend Equivalents in the event of your death during the Restricted Period by completing a beneficiary designation form available at http://www.benefitaccess.com and returning it to the Vice President of Total Rewards and
Performance Management at the address below. 
 If, at your death, a completed beneficiary designation form is not on file at
the Vice President of Total Rewards and Performance Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the Accrued Dividend Equivalents in respect of your RSUs will be transferred to your estate.

 RESTRICTED PERIOD, FORFEITURE 
 The vesting of the RSUs awarded under this Award Agreement along with the Accrued Dividend Equivalents is subject to satisfaction of a performance goal as well as your acceptance of this Award Agreement
by May 31, 2012 and your continuous employment with the Corporation from the Award Date until January 30, 2015 (the “Restricted Period”). If any of these requirements are not satisfied, you may forfeit all or part of your RSUs.
Upon forfeiture, you will no longer have the right to receive Stock for forfeited RSUs or to receive cash payments for the Accrued Dividend Equivalents. 
 1. Performance Goal 
 At its first meeting after the Corporation
finalizes the financial results for the year ending December 31, 2012, the Committee will multiply the number of RSUs awarded to you under this Award Agreement by the Fair Market Value of Stock on the Award Date
($[        ]) (“RSU Award Value”). The Committee will then compare your RSU Award Value to the product of 0.10% and the Corporation’s Cash Flow for the year ending December 31, 2012 (with
the product being referred to as the “RSU Performance Goal”). If your RSU Award Value exceeds your RSU Performance Goal (with the amount of that excess referred to as the “Performance Shortfall”) then you will forfeit the number
of whole RSUs that are equal to the Performance Shortfall divided by the Fair Market Value of Stock on the Award Date ($[        ]). 
 For purposes of this Award Agreement, Cash Flow for any period means net cash flow from operations but not taking into account: (i) the aggregate difference between the amount forecasted in the
Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit pension plans during the period and the actual amounts 

 Award Date: January 30, 2012 
 Page 4 
  

 
contributed by the Corporation during the period; and (ii) any tax payments or tax benefits during the period associated with the divestiture of business units, other than tax payments or
tax benefits that were included in the Corporation’s 2012 Long Range Plan. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if
audited financial statements are not available for the period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash
provided by operating activities as reported in its audited consolidated statement of cash flows, in either case as modified by this paragraph. 
 2. Employment Requirement 
 Regardless of the satisfaction of
the RSU Performance Goal, all of your RSUs will be forfeited and all of your rights to the RSUs and to receive Stock for your RSUs and to receive cash payment for the Accrued Dividend Equivalents will cease without further obligation on the part of
the Corporation unless you personally accept this Award Agreement as provided below by May 31, 2012 and continue to provide services to the Corporation as an Employee of the Corporation until the expiration or termination of the Restricted
Period, which will occur on January 30, 2015, subject only to the specific exceptions provided below. 
 DEATH, DISABILITY, LAYOFF,
RETIREMENT 
 1. Death and Disability 
 Your RSUs and the Accrued Dividend Equivalents will immediately vest and no longer be subject to the continuing employment requirement or the potential forfeiture to the extent of a Performance Shortfall
if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

The vested RSUs will be exchanged for shares of Stock, and the Accrued Dividend Equivalents will be paid in cash as soon as practicable,
but no later than ninety (90) days after the date of your termination of employment on account of death or total disability, and in no event later than the March 15 next following the year in which such termination occurs. 

In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or by May 31, 2012,
whichever comes first), you will forfeit all of your RSUs granted hereunder and all of your rights to the RSUs and to receive Stock for your RSUs and the Accrued Dividend Equivalents will cease without further obligation on the part of the
Corporation. 

 Award Date: January 30, 2012 
 Page 5 
  

 2. Retirement, Lay Off 

If you retire or are laid off with an effective date before January 30, 2013, you will forfeit all of your RSUs and the Accrued
Dividend Equivalents in accordance with the general rule requiring continuous employment during the Restricted Period. If you retire or are laid off with an effective date on or after January 30, 2013, your RSUs and the Accrued Dividend
Equivalents will continue to be subject to forfeiture to the extent of any Performance Shortfall certified by the Committee prior to, on or after such date; however, subject to any Performance Shortfall that may occur, the Restricted Period will end
for a portion of your RSUs and the Accrued Dividend Equivalents and you will vest in a portion of your RSUs and the Accrued Dividend Equivalents as follows: 
  

	 	(i)	you will vest in one third (1/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that one-third) if your retirement or layoff is
effective on or after the first anniversary of the Award Date (January 30, 2013), but before the second anniversary of the Award Date (January 30, 2014); and 

 

	 	(ii)	you will vest in two thirds (2/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that two-thirds) if your retirement or layoff is
effective on or after the second anniversary of the Award Date (January 30, 2014) but before the third anniversary of the Award Date (January 30, 2015). 

 Notwithstanding the foregoing, your RSUs will not be considered vested until such time as the Committee makes its certification with respect to the RSU Performance Goal. The vested RSUs will be exchanged
for shares of Stock, and the related Accrued Dividend Equivalents associated with the vested portion of your RSUs will be paid in cash as soon as practicable, but no later than ninety (90) days after the later of the Committee’s
certification or your retirement or layoff, and in no event later than the March 15 next following the year in which you retire or are laid off. You will forfeit your remaining RSUs and the related Accrued Dividend Equivalents associated with
forfeited RSUs on the effective date of your retirement or layoff. 
 For purposes of this provision, the term
“retirement” means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans,
termination following attainment of (i) age 55 and five years of service, or (ii) age 65. 
 RESIGNATION OR TERMINATION WITH
OR WITHOUT CAUSE 
 If you resign or your employment otherwise terminates before January 30, 2015, other than on account
of death, disability, layoff, or retirement (or Divestiture or Change in Control as described below) whether voluntarily or by action of the Corporation and in the latter case whether with or without “cause,” you will forfeit your RSUs and
the related Accrued Dividend Equivalents on the date of your termination. 

 Award Date: January 30, 2012 
 Page 6 
  

 DIVESTITURE 
 If the Corporation divests (as defined below) all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or
its subsidiaries and the transfer of such employment to the other party to the divestiture, the special rules in this paragraph will apply. Subject to any Performance Shortfall, your RSUs and the Accrued Dividend Equivalents will vest immediately
(or following the Committee’s determination of any Performance Shortfall, if later) and you will receive shares of Stock in exchange for RSUs and the cash payment for the Accrued Dividend Equivalents as soon as practicable, but no later than
the later of ninety (90) days after your termination of employment with the Corporation or the determination by the Committee of any Performance Shortfall, and in no event later than the March 15 next following the year in which your
employment terminates. For the purposes of this provision, the term “divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership,
joint venture, limited liability company or other business entity of which less than 50% of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled directly or indirectly by the
Corporation, by one or more of the Corporation’s subsidiaries or by a combination thereof. 
 CHANGE IN CONTROL 

In the event your employment is terminated by the Corporation (or its successor) following a Change in Control, your RSUs and the Accrued
Dividend Equivalents will vest and the Restricted Period shall terminate on the date of your termination following the Change in Control. You will vest in your entire Award (including any Accrued Dividend Equivalents) under this Award Agreement and
without regard to any forfeiture that might otherwise occur because of a Performance Shortfall. 
 CHANGES IN CAPITALIZATION 

In the event of a stock split, stock dividend or other similar action resulting in additional shares of Stock being issued to existing
stockholders during the Restricted Period or in the event of a reverse stock split resulting in a contraction in the number of shares outstanding during the Restricted Period, the number of your RSUs will be adjusted in the same manner as if you
held actual shares of Stock. 
 TIMING OF TAXATION AND WITHHOLDING 

Upon the expiration or termination of the Restricted Period, the Fair Market Value of the Stock deliverable to you in respect of the RSUs
will be taxable to you as compensation income, based on the Fair Market Value of Stock on the day the Stock is deliverable to you. We will withhold federal, state, and local income taxes at the minimum rate prescribed by law.

 Award Date: January 30, 2012 
 Page 7 
  

 
Therefore, you may owe taxes relating to the RSUs in addition to the amount withheld by the Corporation. FICA tax withholding also will apply except to the extent FICA taxes have already been
collected in the case of retirement-eligible employees as described below. 
 Your tax basis in shares of Stock delivered to you
in respect of the RSUs will be equal to the Fair Market Value of such shares on the day the Stock is deliverable to you. Your holding period for purposes of determining long-term capital gain or loss treatment on any subsequent sale of such Stock
will begin on that day. 
 Any cash paid to you as Accrued Dividend Equivalents will be taxable to you as compensation income in
the year paid and subject to withholding of federal, state and local income taxes, and FICA taxes. The Corporation will withhold taxes on the Accrued Dividend Equivalents by reducing the cash payable to you, except to the extent FICA taxes have
already been collected in the case of retirement-eligible employees as described below. The Corporation may elect to apply all or part of the Accrued Dividend Equivalents to tax withholding on the Stock, in which case you may not receive any cash
for the Accrued Dividend Equivalents. 
 Unless you deliver cash to the Corporation to satisfy any withholding tax on Stock
deliverable to you in respect of vested RSUs in accordance with procedures established in advance by the Corporation’s Senior Vice President of Human Resources, you will be deemed to have automatically elected to pay any withholding tax (net of
any Accrued Dividend Equivalents applied to withholding) on Stock deliverable to you by means of the Corporation reducing the number of shares of Stock deliverable to you in respect of vested RSUs, based upon the minimum rate of withholding
prescribed by law. 
 In the event you are or become eligible for retirement during the Restricted Period, a portion of
your Award will become subject to FICA taxes prior to the termination of the Restricted Period. FICA taxes will be withheld with respect to the number of RSUs on which the Restricted Period would terminate if you were to retire. The FICA tax will
also apply to any Accrued Dividend Equivalents related to the portion of your RSUs subject to FICA. As an administrative practice in accordance with IRS regulations, the Corporation generally will delay application of these FICA taxes on
retirement-eligible participants until December of the year of withholding (or when the Stock is deliverable, if earlier). FICA taxes will be computed based upon the Fair Market Value of the Stock and the Accrued Dividend Equivalents on the date of
withholding. For example, if you are eligible to retire during the Restricted Period, then you would become subject to FICA taxes on the later of the first anniversary of the Award Date or the date that you become retirement eligible, and FICA taxes
would be withheld even though Stock and the Accrued Dividend Equivalents would not be deliverable to you until the close of the Restricted Period. The Corporation will withhold such FICA tax from your regular wages or MICP payment. The Corporation
may collect the FICA withholding from you either shortly before or after the date it is due and in the case of Insiders may require delivery of a check to satisfy any shortfall in the withholding. 

If Code Section 409A(a)(2)(B)(i) applies because you are a specified employee receiving Stock on account of a termination of
employment or if you are an Insider, your Stock and the 

 Award Date: January 30, 2012 
 Page 8 
  

 
Accrued Dividend Equivalents may not be deliverable to you for six months following such date of termination and, accordingly, the Fair Market Value of the Stock on the date on which the Stock is
deliverable to you and the Accrued Dividend Equivalents (accrued through the date the Stock becomes deliverable to you) shall be used for purposes of determining your compensation income. 
 AMENDMENT AND TERMINATION OF PLAN OR AWARDS 
 As provided in Section 9
of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement. Notwithstanding
Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award Agreement. This
Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Assuming prompt and proper acknowledgment of this Award Agreement as
described, this Award will be effective as of the Award Date. 
 By executing this Award Agreement, you consent to receive
copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address
noted above. 

 Award Date: January 30, 2012 
 Page 9 
  

 If you do not personally acknowledge your acceptance of this Award Agreement on or
before May 31, 2012, this Award will be forfeited as noted above. 
 POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 If you
are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 

Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that
any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. Neither the value of the RSUs awarded to you nor the Accrued
Dividend Equivalents will be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. Notwithstanding any other provision of this Award Agreement to the contrary, no Stock will be issued to you
within six months from the Award Date. 
 Transactions involving Stock delivered under this Award Agreement are subject to the
securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The
Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or RSUs. 

 Award Date: January 30, 2012 
 Page 10 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	Sincerely,
	
	David Filomeo
	(On behalf of the Management Development and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	 		  	  
 Date

			
	  
 Print Name
	 		  	  
 Employee
ID

 Award Date: January 30, 2012 
 Page 11 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (RSU Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of restricted stock units to me under the Award Agreement (the “RSUs”) pursuant to the Lockheed Martin Corporation
2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the RSUs, I agree as follows: 

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

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

  

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

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

 Award Date: January 30, 2012 
 Page 12 
  

 (c) Protection of Proprietary Information – Except to the extent required
by law, following my Termination Date, I will have a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or
Proprietary Information” (as defined below) of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the
terms of such agreements. I will not use or disclose or allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was responsible for
creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or
confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Corporation for
assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the property of the
Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to information that a
person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if
used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

 

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

 

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

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

 Award Date: January 30, 2012 
 Page 13 
  

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

2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made
available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the RSUs is expressly
made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the
benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to and
extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon
demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

  

	 	(iii)	 The Corporation determines that I engaged in fraud, bribery or any other illegal act or that my intentional misconduct or gross negligence (including
the failure to report the acts of another 

 Award Date: January 30, 2012 
 Page 14 
  

	 	
person of which I had knowledge during the period I was employed by the Corporation) contributed to another person’s fraud, bribery or other illegal act, which in any such case adversely
affected the Corporation’s financial position or reputation; or 

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the RSUs
and continue to own the shares of Common Stock of the Corporation issued or issuable in respect of the RSUs, the shares of Common Stock so acquired; (ii) to the extent I have earned any of the RSUs and no longer own the shares of Common Stock
of the Corporation issued or issuable in respect of the RSUs, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless otherwise determined by the Management Development
and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally reported by the New York Stock Exchange on such date), and (iii) to the extent I have not
earned the RSUs fully, all of my remaining rights, title or interest in the RSUs. 
 4. Injunctive Relief. I acknowledge
that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to
any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to
specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security. 
 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular
provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of this provision in
the particular jurisdiction in which such adjudication is made. 
 6. Definitions. Capitalized terms not defined in this
PECA have the meaning given to them in the Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below: 

 Award Date: January 30, 2012 
 Page 15 
  

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

(a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the RSUs to me.

 (b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any
enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of
Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 

(d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise,
affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from
time to time or applicable law or regulation. 

 Award Date: January 30, 2012 
 Page 16 
  

 This PECA is effective as of the acceptance by me of the award of RSUs under the
Award Agreement and is not contingent on the vesting of my RSUs. 

 Award Date: January 30, 2012 
 Page 17 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	 Annual Base Pay Multiple

	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 RSU PECA SVPHR (performance) 
 Award Date: January 30, 2012 
 THIS DOCUMENT CONSTITUTES PART OF A
PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 

THE SECURITIES ACT OF 1933 

Dear Awardee: 
 The Management
Development and Compensation Committee of the Board of Directors (“Committee”) has awarded you Restricted Stock Units (“RSUs”). Each RSU entitles you, upon satisfaction of the continuous employment and other requirements set
forth in this letter and the Plan, to receive from Lockheed Martin Corporation (“Corporation”): (i) one (1) share of the Corporation’s common stock, par value $1.00 per share, (“Stock”); and (ii) a cash
payment equal to the sum of any cash dividends paid to stockholders of the Corporation during the Restricted Period (as defined below), each in accordance with the terms of this letter, the Lockheed Martin Corporation 2011 Incentive Performance
Award Plan (“Plan”), and any rules and procedures adopted by the Committee. 
 This letter constitutes the Award
Agreement for your RSUs and sets forth some of the terms and conditions of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the
Plan and this Award Agreement are a part. In the event of a conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 

The term Restricted Stock Unit or RSU as used in this Award Agreement refers only to the Restricted Stock Units awarded to you under this
Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 
 Your
Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance
Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement as described, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 
 If you do not
properly acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be forfeited. 

 Award Date: January 30, 2012 
 Page 2 
  

 CONSIDERATION FOR AWARD 
 The consideration for the Restricted Stock Units is your continued service to the Corporation as an Employee during the Restricted Period set forth below. If you do not continue to perform services for
the Corporation as an Employee during the entire Restricted Period as set forth below under “RESTRICTED PERIOD, FORFEITURE,” your Award will be forfeited in whole or in part. 
 RIGHTS OF OWNERSHIP, RESTRICTIONS ON TRANSFER 
 During the Restricted
Period, your RSUs will be subject to forfeiture. Until the Restricted Period ends with respect to a particular RSU and a share of Stock is delivered to you, you generally will not have the rights and privileges of a stockholder. In particular, you
will not have the right to vote your RSUs on any matter put to the stockholders of the Corporation; you may not sell, transfer, assign, pledge, use as collateral or otherwise dispose of or encumber RSUs; and you will not have the right to receive
any dividends or dividend equivalents on the RSUs or the right to receive any dividend paid to stockholders on a share of Stock. 
 Upon expiration or termination of the Restricted Period with respect to your RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be
exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Stock issued in your name (or other name(s) designated by you) and a cash payment equal to the dividends that would have been paid to you had you owned
such share from the Award Date until the expiration or termination of the Restricted Period (“Accrued Dividend Equivalents”). Your shares and the cash payment for the Accrued Dividend Equivalents will be delivered to you as soon as
practicable, but not later than ninety (90) days after the expiration or termination of the Restricted Period. 
 The
certificates delivered to you may contain any legend the Corporation determines is appropriate under the securities laws. At the time the Restricted Period for your RSUs terminates, the Corporation is required to collect from you the appropriate
amount of federal, state and local taxes with respect to both the shares delivered and the cash payment for the Accrued Dividend Equivalents. The Corporation may be required to collect FICA taxes from you prior to the termination of the Restricted
Period if you become eligible for retirement prior to the termination of that period. In this regard, please see “TIMING OF TAXATION AND WITHHOLDING” below. 
 In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on account of a termination of employment, delivery of Stock and the Accrued Dividend
Equivalents may be delayed for six months from such date; similarly, if you are an Insider subject to the reporting provisions of Section 16(a) of the Securities Exchange Act of 1934, delivery of Stock following the expiration of the Restricted
Period for any reason may be delayed for six months. You will be notified if you are a specified employee for purposes of section 409A. 

  

 Award Date: January 30, 2012 
 Page 3 
  

 After the Stock is delivered to you, you (or your designee(s)) will enjoy all of the
rights and privileges associated with ownership of the shares, including the right to vote on any matter put to stockholder vote, to receive dividends, and to encumber, sell or otherwise transfer the shares. You should note, however, that, while the
shares would thus be free of the restrictions imposed during the Restricted Period, your ability to sell or pledge the shares may be limited under the federal securities laws or corporate policy. 

You have the right to designate a beneficiary (or beneficiaries) to receive your shares in exchange for your RSUs and cash in respect of
the Accrued Dividend Equivalents in the event of your death during the Restricted Period by completing a beneficiary designation form available at http://www.benefitaccess.com and returning it to the Vice President of Total Rewards and
Performance Management at the address below. 
 If, at your death, a completed beneficiary designation form is not on file at
the Vice President of Total Rewards and Performance Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the Accrued Dividend Equivalents in respect of your RSUs will be transferred to your estate.

 RESTRICTED PERIOD, FORFEITURE 
 The vesting of the RSUs awarded under this Award Agreement along with the Accrued Dividend Equivalents is subject to satisfaction of a performance goal as well as your acceptance of this Award Agreement
by May 31, 2012 and your continuous employment with the Corporation from the Award Date until January 30, 2015 (the “Restricted Period”). If any of these requirements are not satisfied, you may forfeit all or part of your RSUs.
Upon forfeiture, you will no longer have the right to receive Stock for forfeited RSUs or to receive cash payments for the Accrued Dividend Equivalents. 
 1. Performance Goal 
 At its first meeting after the Corporation
finalizes the financial results for the year ending December 31, 2012, the Committee will multiply the number of RSUs awarded to you under this Award Agreement by the Fair Market Value of Stock on the Award Date
($[        ]) (“RSU Award Value”). The Committee will then compare your RSU Award Value to the product of 0.10% and the Corporation’s Cash Flow for the year ending December 31, 2012 (with
the product being referred to as the “RSU Performance Goal”). If your RSU Award Value exceeds your RSU Performance Goal (with the amount of that excess referred to as the “Performance Shortfall”) then you will forfeit the number
of whole RSUs that are equal to the Performance Shortfall divided by the Fair Market Value of Stock on the Award Date ($[        ]). 
 For purposes of this Award Agreement, Cash Flow for any period means net cash flow from operations but not taking into account: (i) the aggregate difference between the amount forecasted in the
Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit pension plans during the period and the actual amounts 

  

 Award Date: January 30, 2012 
 Page 4 
  

 
contributed by the Corporation during the period; and (ii) any tax payments or tax benefits during the period associated with the divestiture of business units, other than tax payments or
tax benefits that were included in the Corporation’s 2012 Long Range Plan. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if
audited financial statements are not available for the period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash
provided by operating activities as reported in its audited consolidated statement of cash flows, in either case as modified by this paragraph. 
 2. Employment Requirement 
 Regardless of the satisfaction of
the RSU Performance Goal, all of your RSUs will be forfeited and all of your rights to the RSUs and to receive Stock for your RSUs and to receive cash payment for the Accrued Dividend Equivalents will cease without further obligation on the part of
the Corporation unless you personally accept this Award Agreement as provided below by May 31, 2012 and continue to provide services to the Corporation as an Employee of the Corporation until the expiration or termination of the Restricted
Period, which will occur on January 30, 2015, subject only to the specific exceptions provided below. 
 DEATH, DISABILITY, LAYOFF,
RETIREMENT 
 1. Death and Disability 
 Your RSUs and the Accrued Dividend Equivalents will immediately vest and no longer be subject to the continuing employment requirement or the potential forfeiture to the extent of a Performance Shortfall
if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

The vested RSUs will be exchanged for shares of Stock, and the Accrued Dividend Equivalents will be paid in cash as soon as practicable,
but no later than ninety (90) days after the date of your termination of employment on account of death or total disability, and in no event later than the March 15 next following the year in which such termination occurs. 

In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or by May 31, 2012,
whichever comes first), you will forfeit all of your RSUs granted hereunder and all of your rights to the RSUs and to receive Stock for your RSUs and the Accrued Dividend Equivalents will cease without further obligation on the part of the
Corporation. 

  

 Award Date: January 30, 2012 
 Page 5 
  

 2. Retirement, Lay Off 

If you retire or are laid off with an effective date before January 30, 2013, you will forfeit all of your RSUs and the Accrued
Dividend Equivalents in accordance with the general rule requiring continuous employment during the Restricted Period. If you retire or are laid off with an effective date on or after January 30, 2013, your RSUs and the Accrued Dividend
Equivalents will continue to be subject to forfeiture to the extent of any Performance Shortfall certified by the Committee prior to, on or after such date; however, subject to any Performance Shortfall that may occur, the Restricted Period will end
for a portion of your RSUs and the Accrued Dividend Equivalents and you will vest in a portion of your RSUs and the Accrued Dividend Equivalents as follows: 
  

	 	(i)	you will vest in one third (1/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that one-third) if your retirement or layoff is
effective on or after the first anniversary of the Award Date (January 30, 2013), but before the second anniversary of the Award Date (January 30, 2014); and 

 

	 	(ii)	you will vest in two thirds (2/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that two-thirds) if your retirement or layoff is
effective on or after the second anniversary of the Award Date (January 30, 2014) but before the third anniversary of the Award Date (January 30, 2015). 

 Notwithstanding the foregoing, your RSUs will not be considered vested until such time as the Committee makes its certification with respect to the RSU Performance Goal. The vested RSUs will be exchanged
for shares of Stock, and the related Accrued Dividend Equivalents associated with the vested portion of your RSUs will be paid in cash as soon as practicable, but no later than ninety (90) days after the later of the Committee’s
certification or your retirement or layoff, and in no event later than the March 15 next following the year in which you retire or are laid off. You will forfeit your remaining RSUs and the related Accrued Dividend Equivalents associated with
forfeited RSUs on the effective date of your retirement or layoff. 
 For purposes of this provision, the term
“retirement” means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans,
termination following attainment of (i) age 55 and five years of service, or (ii) age 65. 
 RESIGNATION OR TERMINATION WITH
OR WITHOUT CAUSE 
 If you resign or your employment otherwise terminates before January 30, 2015, other than on account
of death, disability, layoff, or retirement (or Divestiture or Change in Control as described below) whether voluntarily or by action of the Corporation and in the latter case whether with or without “cause,” you will forfeit your RSUs and
the related Accrued Dividend Equivalents on the date of your termination. 

  

 Award Date: January 30, 2012 
 Page 6 
  

 DIVESTITURE 
 If the Corporation divests (as defined below) all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or
its subsidiaries and the transfer of such employment to the other party to the divestiture, the special rules in this paragraph will apply. Subject to any Performance Shortfall, your RSUs and the Accrued Dividend Equivalents will vest immediately
(or following the Committee’s determination of any Performance Shortfall, if later) and you will receive shares of Stock in exchange for RSUs and the cash payment for the Accrued Dividend Equivalents as soon as practicable, but no later than
the later of ninety (90) days after your termination of employment with the Corporation or the determination by the Committee of any Performance Shortfall, and in no event later than the March 15 next following the year in which your
employment terminates. For the purposes of this provision, the term “divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership,
joint venture, limited liability company or other business entity of which less than 50% of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled directly or indirectly by the
Corporation, by one or more of the Corporation’s subsidiaries or by a combination thereof. 
 CHANGE IN CONTROL 

In the event your employment is terminated by the Corporation (or its successor) following a Change in Control, your RSUs and the Accrued
Dividend Equivalents will vest and the Restricted Period shall terminate on the date of your termination following the Change in Control. You will vest in your entire Award (including any Accrued Dividend Equivalents) under this Award Agreement and
without regard to any forfeiture that might otherwise occur because of a Performance Shortfall. 
 CHANGES IN CAPITALIZATION 

In the event of a stock split, stock dividend or other similar action resulting in additional shares of Stock being issued to existing
stockholders during the Restricted Period or in the event of a reverse stock split resulting in a contraction in the number of shares outstanding during the Restricted Period, the number of your RSUs will be adjusted in the same manner as if you
held actual shares of Stock. 
 TIMING OF TAXATION AND WITHHOLDING 

Upon the expiration or termination of the Restricted Period, the Fair Market Value of the Stock deliverable to you in respect of the RSUs
will be taxable to you as compensation income, based on the Fair Market Value of Stock on the day the Stock is deliverable to you. We will withhold federal, state, and local income taxes at the minimum rate prescribed by law.

  

 Award Date: January 30, 2012 
 Page 7 
  

 
Therefore, you may owe taxes relating to the RSUs in addition to the amount withheld by the Corporation. FICA tax withholding also will apply except to the extent FICA taxes have already been
collected in the case of retirement-eligible employees as described below. 
 Your tax basis in shares of Stock delivered to you
in respect of the RSUs will be equal to the Fair Market Value of such shares on the day the Stock is deliverable to you. Your holding period for purposes of determining long-term capital gain or loss treatment on any subsequent sale of such Stock
will begin on that day. 
 Any cash paid to you as Accrued Dividend Equivalents will be taxable to you as compensation income in
the year paid and subject to withholding of federal, state and local income taxes, and FICA taxes. The Corporation will withhold taxes on the Accrued Dividend Equivalents by reducing the cash payable to you, except to the extent FICA taxes have
already been collected in the case of retirement-eligible employees as described below. The Corporation may elect to apply all or part of the Accrued Dividend Equivalents to tax withholding on the Stock, in which case you may not receive any cash
for the Accrued Dividend Equivalents. 
 Unless you deliver cash to the Corporation to satisfy any withholding tax on Stock
deliverable to you in respect of vested RSUs in accordance with procedures established in advance by the Corporation’s Senior Vice President of Human Resources, you will be deemed to have automatically elected to pay any withholding tax (net of
any Accrued Dividend Equivalents applied to withholding) on Stock deliverable to you by means of the Corporation reducing the number of shares of Stock deliverable to you in respect of vested RSUs, based upon the minimum rate of withholding
prescribed by law. 
 In the event you are or become eligible for retirement during the Restricted Period, a portion of your
Award will become subject to FICA taxes prior to the termination of the Restricted Period. FICA taxes will be withheld with respect to the number of RSUs on which the Restricted Period would terminate if you were to retire. The FICA tax will also
apply to any Accrued Dividend Equivalents related to the portion of your RSUs subject to FICA. As an administrative practice in accordance with IRS regulations, the Corporation generally will delay application of these FICA taxes on
retirement-eligible participants until December of the year of withholding (or when the Stock is deliverable, if earlier). FICA taxes will be computed based upon the Fair Market Value of the Stock and the Accrued Dividend Equivalents on the date of
withholding. For example, if you are eligible to retire during the Restricted Period, then you would become subject to FICA taxes on the later of the first anniversary of the Award Date or the date that you become retirement eligible, and FICA taxes
would be withheld even though Stock and the Accrued Dividend Equivalents would not be deliverable to you until the close of the Restricted Period. The Corporation will withhold such FICA tax from your regular wages or MICP payment. The Corporation
may collect the FICA withholding from you either shortly before or after the date it is due and in the case of Insiders may require delivery of a check to satisfy any shortfall in the withholding. 

If Code Section 409A(a)(2)(B)(i) applies because you are a specified employee receiving Stock on account of a termination of
employment or if you are an Insider, your Stock and the 

  

 Award Date: January 30, 2012 
 Page 8 
  

 
Accrued Dividend Equivalents may not be deliverable to you for six months following such date of termination and, accordingly, the Fair Market Value of the Stock on the date on which the Stock is
deliverable to you and the Accrued Dividend Equivalents (accrued through the date the Stock becomes deliverable to you) shall be used for purposes of determining your compensation income. 
 AMENDMENT AND TERMINATION OF PLAN OR AWARDS 
 As provided in Section 9
of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement. Notwithstanding
Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award Agreement. This
Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Assuming prompt and proper acknowledgment of this Award Agreement as
described, this Award will be effective as of the Award Date. 
 By executing this Award Agreement, you consent to receive
copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address
noted above. 

  

 Award Date: January 30, 2012 
 Page 9 
  

 If you do not personally acknowledge your acceptance of this Award Agreement on or
before May 31, 2012, this Award will be forfeited as noted above. 
 POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 If you
are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 

Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that
any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. Neither the value of the RSUs awarded to you nor the Accrued
Dividend Equivalents will be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. Notwithstanding any other provision of this Award Agreement to the contrary, no Stock will be issued to you
within six months from the Award Date. 
 Transactions involving Stock delivered under this Award Agreement are subject to the
securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The
Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or RSUs. 

  

 Award Date: January 30, 2012 
 Page 10 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	 Sincerely,

	
	 David Filomeo

	 (On behalf of the Management Development

and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

  

 Award Date: January 30, 2012 
 Page 11 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (RSU Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of restricted stock units to me under the Award Agreement (the “RSUs”) pursuant to the Lockheed Martin Corporation
2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the RSUs, I agree as follows: 

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

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

  

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

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

  

 Award Date: January 30, 2012 
 Page 12 
  

 (c) Protection of Proprietary Information – Except to the extent required
by law, following my Termination Date, I will have a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or
Proprietary Information” (as defined below) of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the
terms of such agreements. I will not use or disclose or allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was responsible for
creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or
confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Corporation for
assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the property of the
Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to information that a
person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if
used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

 

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

 

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

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

  

 Award Date: January 30, 2012 
 Page 13 
  

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

2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made
available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the RSUs is expressly
made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the
benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to and
extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon
demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

  

 Award Date: January 30, 2012 
 Page 14 
  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the RSUs
and continue to own the shares of Common Stock of the Corporation issued or issuable in respect of the RSUs, the shares of Common Stock so acquired; (ii) to the extent I have earned any of the RSUs and no longer own the shares of Common Stock
of the Corporation issued or issuable in respect of the RSUs, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless otherwise determined by the Management Development
and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally reported by the New York Stock Exchange on such date), and (iii) to the extent I have not
earned the RSUs fully, all of my remaining rights, title or interest in the RSUs. 
 4. Injunctive Relief. I acknowledge
that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to
any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to
specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security. 
 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular
provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of this provision in
the particular jurisdiction in which such adjudication is made. 

  

 Award Date: January 30, 2012 
 Page 15 
  

 6. Definitions. Capitalized terms not defined in this PECA have the meaning given
to them in the Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below: 
 (a)
“Restricted Company” means The Boeing Company, General Dynamics Corporation, Northrop Grumman Corporation, the Raytheon Company, United Technologies Corporation, Honeywell International Inc., BAE Systems Inc., L-3 Communications
Corporation, the Harris Corporation, Thales, EADS North America and (i) any entity directly or indirectly controlling, controlled by, or under common control with any of the foregoing, and (ii) any successor to all or part of the business
of any of the foregoing as a result of a merger, reorganization, consolidation, spin-off, split-up, acquisition, divestiture, or similar transaction. 
 (b) “Competitive Products or Services” means products or services that compete with, or are an alternative or potential alternative to, products sold or services provided by a subsidiary,
business area, division or operating unit or business of the Corporation as of the Termination Date and at any time within the two-year period ending on the Termination Date; provided, that, (i) if I had direct responsibility for the business
of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services includes the
products so sold or the services so provided during that two-year period by the subsidiary, business area, division or operating unit of the Corporation for which I had responsibility, and (ii) if I did not have direct responsibility for the
business of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services
includes the products so sold or the services so provided by a subsidiary, business area, division or operating unit of the Corporation for which I had access (or was required or permitted such access in the performance of my duties or
responsibilities with the Corporation) to Confidential or Proprietary Information of the Corporation at any time during the two-year period ending on the Termination Date. 
 7. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA
constitute the entire agreement governing the terms of the award of the RSUs to me. 
 (b) This PECA shall be governed by
Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of
Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 

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

  

 Award Date: January 30, 2012 
 Page 16 
  

 (d) This PECA provides for certain obligations on my part following the Termination
Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of
applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 
 This
PECA is effective as of the acceptance by me of the award of RSUs under the Award Agreement and is not contingent on the vesting of my RSUs. 

  

 Award Date: January 30, 2012 
 Page 17 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	Chief Executive Officer	  	6 times
	President/Chief Operating Officer	  	5 times
	Chief Financial Officer	  	4 times
	Business Area Executive Vice Presidents	  	3 times
	Corporate Senior Vice Presidents	  	2 times
	Other Elected Officers	  	2 times
	All Other Vice Presidents	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 RSU PECA SVPHR (nonperformance) 

 

 Award Date: January 30, 2012 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 
 THE SECURITIES ACT OF 1933

 Dear Awardee: 

The Management Development and Compensation Committee of the Board of Directors (“Committee”) has awarded you Restricted Stock
Units (“RSUs”). Each RSU entitles you, upon satisfaction of the continuous employment and other requirements set forth in this letter and the Plan, to receive from Lockheed Martin Corporation (“Corporation”): (i) one
(1) share of the Corporation’s common stock, par value $1.00 per share, (“Stock”); and (ii) a cash payment equal to the sum of any cash dividends paid to stockholders of the Corporation during the Restricted Period (as
defined below), each in accordance with the terms of this letter, the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (“Plan”), and any rules and procedures adopted by the Committee. 

This letter constitutes the Award Agreement for your RSUs and sets forth some of the terms and conditions of your Award under the Plan,
as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the Plan and this Award Agreement are a part. In the event of a conflict between this letter and the Plan,
the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 
 The term Restricted Stock
Unit or RSU as used in this Award Agreement refers only to the Restricted Stock Units awarded to you under this Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 

Your Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic
receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper
acknowledgement of your acceptance of this Award Agreement as described, this Award will be effective as of the Award Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with
respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A (“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 

If you do not properly acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be
forfeited. 

 Award Date: January 30, 2012 
 Page 2 
  

 CONSIDERATION FOR AWARD 
 The consideration for the Restricted Stock Units is your continued service to the Corporation as an Employee during the Restricted Period set forth below. If you do not continue to perform services for
the Corporation as an Employee during the entire Restricted Period as set forth below under “RESTRICTED PERIOD, FORFEITURE,” your Award will be forfeited in whole or in part. 
 RIGHTS OF OWNERSHIP, RESTRICTIONS ON TRANSFER 
 During the Restricted
Period, your RSUs will be subject to forfeiture. Until the Restricted Period ends with respect to a particular RSU and a share of Stock is delivered to you, you generally will not have the rights and privileges of a stockholder. In particular, you
will not have the right to vote your RSUs on any matter put to the stockholders of the Corporation; you may not sell, transfer, assign, pledge, use as collateral or otherwise dispose of or encumber RSUs; and you will not have the right to receive
any dividends or dividend equivalents on the RSUs or the right to receive any dividend paid to stockholders on a share of Stock. 
 Upon expiration or termination of the Restricted Period with respect to your RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be
exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Stock issued in your name (or other name(s) designated by you) and a cash payment equal to the dividends that would have been paid to you had you owned
such share from the Award Date until the expiration or termination of the Restricted Period (“Accrued Dividend Equivalents”). Your shares and the cash payment for the Accrued Dividend Equivalents will be delivered to you as soon as
practicable, but no later than ninety (90) days after the expiration or termination of the Restricted Period. 
 The
certificates delivered to you may contain any legend the Corporation determines is appropriate under the securities laws. At the time the Restricted Period for your RSUs terminates, the Corporation is required to collect from you the appropriate
amount of federal, state and local taxes with respect to both the shares delivered and the cash payment for the Accrued Dividend Equivalents. The Corporation may be required to collect FICA taxes from you prior to the termination of the Restricted
Period if you become eligible for retirement prior to the termination of that period. In this regard, please see “TIMING OF TAXATION AND WITHHOLDING” below. 
 In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on account of a termination of employment, delivery of Stock and the Accrued Dividend
Equivalents may be delayed for six months from such date; similarly, if you are an Insider subject to the reporting provisions of Section 16(a) of the Securities Exchange Act of 1934, delivery of Stock following the expiration of the Restricted
Period for any reason may be delayed for six months. You will be notified if you are a specified employee for purposes of section 409A. 

 Award Date: January 30, 2012 
 Page 3 
  

 After the Stock is delivered to you, you (or your designee(s)) will enjoy all of the
rights and privileges associated with ownership of the shares, including the right to vote on any matter put to stockholder vote, to receive dividends, and to encumber, sell or otherwise transfer the shares. You should note, however, that, while the
shares would thus be free of the restrictions imposed during the Restricted Period, your ability to sell or pledge the shares may be limited under the federal securities laws or corporate policy. 

You have the right to designate a beneficiary (or beneficiaries) to receive your shares in exchange for your RSUs and cash in respect of
the Accrued Dividend Equivalents in the event of your death during the Restricted Period by completing a beneficiary designation form available at http://www.benefitaccess.com and returning it to the Vice President of Total Rewards and
Performance Management at the address below. 
 If, at your death, a completed beneficiary designation form is not on file at
the Vice President of Total Rewards and Performance Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the Accrued Dividend Equivalents in respect of your RSUs will be transferred to your estate.

 RESTRICTED PERIOD, FORFEITURE 
 The vesting of the RSUs awarded under this Award Agreement along with the Accrued Dividend Equivalents is subject to your acceptance of this Award Agreement by May 31, 2012 and your continuous
employment with the Corporation from the Award Date until January 30, 2015 (the “Restricted Period”). All of your RSUs will be forfeited and all of your rights to the RSUs and to receive Stock for your RSUs and to receive cash payment
for the Accrued Dividend Equivalents will cease without further obligation on the part of the Corporation unless you personally accept this Award Agreement as provided below by May 31, 2012 and continue to provide services to the Corporation as
an Employee of the Corporation until the expiration or termination of the Restricted Period, which will occur on January 30, 2015, subject only to the specific exceptions provided below. 
 DEATH, DISABILITY, LAYOFF, RETIREMENT 
 1. Death and Disability

 Your RSUs and the Accrued Dividend Equivalents will immediately vest and no longer be subject to the continuing employment
requirement if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

 Award Date: January 30, 2012 
 Page 4 
  

 The vested RSUs will be exchanged for shares of Stock, and the Accrued Dividend
Equivalents will be paid in cash as soon as practicable, but no later than ninety (90) days after the date of your termination of employment on account of death or total disability, and in no event later than the March 15 next following
the year in which such termination occurs. 
 In the event that you die and have not properly acknowledged acceptance of the
Award prior to your death (or by May 31, 2012, whichever comes first), you will forfeit all of your RSUs granted hereunder and all of your rights to the RSUs and to receive Stock for your RSUs and the Accrued Dividend Equivalents will cease
without further obligation on the part of the Corporation. 
 2. Retirement, Lay Off 

If you retire or are laid off with an effective date before January 30, 2013, you will forfeit all of your RSUs and the Accrued
Dividend Equivalents in accordance with the general rule requiring continuous employment during the Restricted Period. If you retire or are laid off with an effective date on or after January 30, 2013, the Restricted Period will end for a
portion of your RSUs and the Accrued Dividend Equivalents and you will vest in a portion of your RSUs and the Accrued Dividend Equivalents as follows: 
  

	 	(i)	you will vest in one third (1/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that one-third) if your retirement or layoff is
effective on or after the first anniversary of the Award Date (January 30, 2013), but before the second anniversary of the Award Date (January 30, 2014); and 

 

	 	(ii)	you will vest in two thirds (2/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that two-thirds) if your retirement or layoff is
effective on or after the second anniversary of the Award Date (January 30, 2014) but before the third anniversary of the Award Date (January 30, 2015). 

 The vested RSUs will be exchanged for shares of Stock, and the related Accrued Dividend Equivalents associated with the vested portion of your RSUs will be paid in cash as soon as practicable, but no
later than ninety (90) days after your retirement or layoff, and in no event later than the March 15 next following the year in which you retire or are laid off. You will forfeit your remaining RSUs and the related Accrued Dividend
Equivalents associated with forfeited RSUs on the effective date of your retirement or layoff. 
 For purposes of this
provision, the term “retirement” means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined
benefit pension plans, termination following attainment of (i) age 55 and five years of service, or (ii) age 65. 

 Award Date: January 30, 2012 
 Page 5 
  

 RESIGNATION OR TERMINATION WITH OR WITHOUT CAUSE 

If you resign or your employment otherwise terminates before January 30, 2015, other than on account of death, disability, layoff, or
retirement (or Divestiture or Change in Control as described below) whether voluntarily or by action of the Corporation and in the latter case whether with or without “cause,” you will forfeit your RSUs and the related Accrued Dividend
Equivalents on the date of your termination. 
 DIVESTITURE 
 If the Corporation divests (as defined below) all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or
its subsidiaries and the transfer of such employment to the other party to the divestiture, the special rules in this paragraph will apply. Your RSUs and the Accrued Dividend Equivalents will vest immediately and you will receive shares of Stock in
exchange for RSUs and the cash payment for the Accrued Dividend Equivalents as soon as practicable, but no later than ninety (90) days after your termination of employment with the Corporation, and in no event later than the March 15 next
following the year in which your employment terminates. For the purposes of this provision, the term “divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person,
corporation, association, partnership, joint venture, limited liability company or other business entity of which less than 50% of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled
directly or indirectly by the Corporation, by one or more of the Corporation’s subsidiaries or by a combination thereof. 
 CHANGE IN
CONTROL 
 In the event your employment is terminated by the Corporation (or its successor) following a Change in Control,
your RSUs and the Accrued Dividend Equivalents will vest and the Restricted Period shall terminate on the date of your termination following the Change in Control. 
 CHANGES IN CAPITALIZATION 
 In the event of a stock split, stock dividend or
other similar action resulting in additional shares of Stock being issued to existing stockholders during the Restricted Period or in the event of a reverse stock split resulting in a contraction in the number of shares outstanding during the
Restricted Period, the number of your RSUs will be adjusted in the same manner as if you held actual shares of Stock. 
 TIMING OF TAXATION
AND WITHHOLDING 
 Upon the expiration or termination of the Restricted Period, the Fair Market Value of the Stock
deliverable to you in respect of the RSUs will be taxable to you as compensation income, 

 Award Date: January 30, 2012 
 Page 6 
  

 
based on the Fair Market Value of Stock on the day the Stock is deliverable to you. We will withhold federal, state, and local income taxes at the minimum rate prescribed by law. Therefore, you
may owe taxes relating to the RSUs in addition to the amount withheld by the Corporation. FICA tax withholding also will apply except to the extent FICA taxes have already been collected in the case of retirement-eligible employees as described
below. 
 Your tax basis in shares of Stock delivered to you in respect of the RSUs will be equal to the Fair Market Value of
such shares on the day the Stock is deliverable to you. Your holding period for purposes of determining long-term capital gain or loss treatment on any subsequent sale of such Stock will begin on that day. 

Any cash paid to you as Accrued Dividend Equivalents will be taxable to you as compensation income in the year paid and subject to
withholding of federal, state and local income taxes, and FICA taxes. The Corporation will withhold taxes on the Accrued Dividend Equivalents by reducing the cash payable to you, except to the extent FICA taxes have already been collected in the
case of retirement-eligible employees as described below. The Corporation may elect to apply all or part of the Accrued Dividend Equivalents to tax withholding on the Stock, in which case you may not receive any cash for the Accrued Dividend
Equivalents. 
 Unless you deliver cash to the Corporation to satisfy any withholding tax on Stock deliverable to you in respect
of vested RSUs in accordance with procedures established in advance by the Corporation’s Senior Vice President of Human Resources, you will be deemed to have automatically elected to pay any withholding tax (net of any Accrued Dividend
Equivalents applied to withholding) on Stock deliverable to you by means of the Corporation reducing the number of shares of Stock deliverable to you in respect of vested RSUs, based upon the minimum rate of withholding prescribed by law.

 In the event you are or become eligible for retirement during the Restricted Period, a portion of your Award will
become subject to FICA taxes prior to the termination of the Restricted Period. FICA taxes will be withheld with respect to the number of RSUs on which the Restricted Period would terminate if you were to retire. The FICA tax will also apply to any
Accrued Dividend Equivalents related to the portion of your RSUs subject to FICA. As an administrative practice in accordance with IRS regulations, the Corporation generally will delay application of these FICA taxes on retirement-eligible
participants until December of the year of withholding (or when the Stock is deliverable, if earlier). FICA taxes will be computed based upon the Fair Market Value of the Stock and the Accrued Dividend Equivalents on the date of withholding. For
example, if you are eligible to retire during the Restricted Period, then you would become subject to FICA taxes on the later of the first anniversary of the Award Date or the date that you become retirement eligible, and FICA taxes would be
withheld even though Stock and the Accrued Dividend Equivalents would not be deliverable to you until the close of the Restricted Period. The Corporation will withhold such FICA tax from your regular wages or MICP payment. The Corporation may
collect the FICA withholding from you either shortly before or after the date it is due and in the case of Insiders may require delivery of a check to satisfy any shortfall in the withholding. 

 Award Date: January 30, 2012 
 Page 7 
  

 If Code Section 409A(a)(2)(B)(i) applies because you are a specified employee
receiving Stock on account of a termination of employment or if you are an Insider, your Stock and the Accrued Dividend Equivalents may not be deliverable to you for six months following such date of termination and, accordingly, the Fair Market
Value of the Stock on the date on which the Stock is deliverable to you and the Accrued Dividend Equivalents (accrued through the date the Stock becomes deliverable to you) shall be used for purposes of determining your compensation income.

 AMENDMENT AND TERMINATION OF PLAN OR AWARDS 
 As provided in Section 9 of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee
may at any time alter or amend this Award Agreement. Notwithstanding Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written
consent, adversely affect your rights under this Award Agreement. This Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 

ACCEPTANCE OF AWARD 
 No
Award is enforceable until you properly acknowledge your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but
in no event later than May 31, 2012. Acceptance of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your
disability or deployment in the Armed Forces (and not by your estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized
electronic means for the delivery and acceptance of this Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this
letter on or before May 31, 2012 as follows: 
  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Assuming prompt and proper acknowledgment of this Award Agreement as
described, this Award will be effective as of the Award Date. 
 By executing this Award Agreement, you consent to receive
copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address
noted above. 

 Award Date: January 30, 2012 
 Page 8 
  

 If you do not personally acknowledge your acceptance of this Award Agreement on or
before May 31, 2012, this Award will be forfeited as noted above. 
 POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 If you
are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 

Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that
any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. Neither the value of the RSUs awarded to you nor the Accrued
Dividend Equivalents will be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. Notwithstanding any other provision of this Award Agreement to the contrary, no Stock will be issued to you
within six months from the Award Date. 
 Transactions involving Stock delivered under this Award Agreement are subject to the
securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The
Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or RSUs. 

 Award Date: January 30, 2012 
 Page 9 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	Sincerely,
	
	David Filomeo
	(On behalf of the Management Development and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	 		  	  
 Date

			
	  
 Print Name
	 		  	  
 Employee
ID

 Award Date: January 30, 2012 
 Page 10 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (RSU Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of restricted stock units to me under the Award Agreement (the “RSUs”) pursuant to the Lockheed Martin Corporation
2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the RSUs, I agree as follows: 

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

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

  

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

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

 Award Date: January 30, 2012 
 Page 11 
  

 (c) Protection of Proprietary Information – Except to the extent required
by law, following my Termination Date, I will have a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or
Proprietary Information” (as defined below) of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the
terms of such agreements. I will not use or disclose or allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was responsible for
creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or
confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Corporation for
assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the property of the
Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to information that a
person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if
used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

 

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

 

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

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

 Award Date: January 30, 2012 
 Page 12 
  

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

2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made
available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the RSUs is expressly
made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the
benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to and
extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon
demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

 Award Date: January 30, 2012 
 Page 13 
  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the RSUs
and continue to own the shares of Common Stock of the Corporation issued or issuable in respect of the RSUs, the shares of Common Stock so acquired; (ii) to the extent I have earned any of the RSUs and no longer own the shares of Common Stock
of the Corporation issued or issuable in respect of the RSUs, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless otherwise determined by the Management Development
and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally reported by the New York Stock Exchange on such date), and (iii) to the extent I have not
earned the RSUs fully, all of my remaining rights, title or interest in the RSUs. 
 4. Injunctive Relief. I acknowledge
that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to
any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to
specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security. 
 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular
provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of this provision in
the particular jurisdiction in which such adjudication is made. 

 Award Date: January 30, 2012 
 Page 14 
  

 6. Definitions. Capitalized terms not defined in this PECA have the meaning given
to them in the Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below: 
 (a)
“Restricted Company” means The Boeing Company, General Dynamics Corporation, Northrop Grumman Corporation, the Raytheon Company, United Technologies Corporation, Honeywell International Inc., BAE Systems Inc., L-3 Communications
Corporation, the Harris Corporation, Thales, EADS North America and (i) any entity directly or indirectly controlling, controlled by, or under common control with any of the foregoing, and (ii) any successor to all or part of the business
of any of the foregoing as a result of a merger, reorganization, consolidation, spin-off, split-up, acquisition, divestiture, or similar transaction. 
 (b) “Competitive Products or Services” means products or services that compete with, or are an alternative or potential alternative to, products sold or services provided by a subsidiary,
business area, division or operating unit or business of the Corporation as of the Termination Date and at any time within the two-year period ending on the Termination Date; provided, that, (i) if I had direct responsibility for the business
of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services includes the
products so sold or the services so provided during that two-year period by the subsidiary, business area, division or operating unit of the Corporation for which I had responsibility, and (ii) if I did not have direct responsibility for the
business of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services
includes the products so sold or the services so provided by a subsidiary, business area, division or operating unit of the Corporation for which I had access (or was required or permitted such access in the performance of my duties or
responsibilities with the Corporation) to Confidential or Proprietary Information of the Corporation at any time during the two-year period ending on the Termination Date. 
 7. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA
constitute the entire agreement governing the terms of the award of the RSUs to me. 
 (b) This PECA shall be governed by
Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of
Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 

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

 Award Date: January 30, 2012 
 Page 15 
  

 (d) This PECA provides for certain obligations on my part following the Termination
Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of
applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 
 This
PECA is effective as of the acceptance by me of the award of RSUs under the Award Agreement and is not contingent on the vesting of my RSUs. 

 Award Date: January 30, 2012 
 Page 16 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 RSU CA PECA CEO (performance) 
 Award Date: January 30, 2012 
 THIS DOCUMENT CONSTITUTES PART OF A
PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 

THE SECURITIES ACT OF 1933 

Dear Awardee: 
 The Management
Development and Compensation Committee of the Board of Directors (“Committee”) has awarded you Restricted Stock Units (“RSUs”). Each RSU entitles you, upon satisfaction of the continuous employment and other requirements set
forth in this letter and the Plan, to receive from Lockheed Martin Corporation (“Corporation”): (i) one (1) share of the Corporation’s common stock, par value $1.00 per share, (“Stock”); and (ii) a cash
payment equal to the sum of any cash dividends paid to stockholders of the Corporation during the Restricted Period (as defined below), each in accordance with the terms of this letter, the Lockheed Martin Corporation 2011 Incentive Performance
Award Plan (“Plan”), and any rules and procedures adopted by the Committee. 
 This letter constitutes the Award
Agreement for your RSUs and sets forth some of the terms and conditions of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the
Plan and this Award Agreement are a part. In the event of a conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 

The term Restricted Stock Unit or RSU as used in this Award Agreement refers only to the Restricted Stock Units awarded to you under this
Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 
 Your
Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance
Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement as described, this Award will be effective as of the
Award Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 
 If you do not
properly acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be forfeited. 

 Award Date: January 30, 2012 
 Page 2 
  

 CONSIDERATION FOR AWARD 
 The consideration for the Restricted Stock Units is your continued service to the Corporation as an Employee during the Restricted Period set forth below. If you do not continue to perform services for
the Corporation as an Employee during the entire Restricted Period as set forth below under “RESTRICTED PERIOD, FORFEITURE,” your Award will be forfeited in whole or in part. 
 RIGHTS OF OWNERSHIP, RESTRICTIONS ON TRANSFER 
 During the Restricted
Period, your RSUs will be subject to forfeiture. Until the Restricted Period ends with respect to a particular RSU and a share of Stock is delivered to you, you generally will not have the rights and privileges of a stockholder. In particular, you
will not have the right to vote your RSUs on any matter put to the stockholders of the Corporation; you may not sell, transfer, assign, pledge, use as collateral or otherwise dispose of or encumber RSUs; and you will not have the right to receive
any dividends or dividend equivalents on the RSUs or the right to receive any dividend paid to stockholders on a share of Stock. 
 Upon expiration or termination of the Restricted Period with respect to your RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be
exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Stock issued in your name (or other name(s) designated by you) and a cash payment equal to the dividends that would have been paid to you had you owned
such share from the Award Date until the expiration or termination of the Restricted Period (“Accrued Dividend Equivalents”). Your shares and the cash payment for the Accrued Dividend Equivalents will be delivered to you as soon as
practicable, but no later than ninety (90) days after the expiration or termination of the Restricted Period. 
 The
certificates delivered to you may contain any legend the Corporation determines is appropriate under the securities laws. At the time the Restricted Period for your RSUs terminates, the Corporation is required to collect from you the appropriate
amount of federal, state and local taxes with respect to both the shares delivered and the cash payment for the Accrued Dividend Equivalents. The Corporation may be required to collect FICA taxes from you prior to the termination of the Restricted
Period if you become eligible for retirement prior to the termination of that period. In this regard, please see “TIMING OF TAXATION AND WITHHOLDING” below. 
 In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on account of a termination of employment, delivery of Stock and the Accrued Dividend
Equivalents may be delayed for six months from such date; similarly, if you are an Insider subject to the reporting provisions of Section 16(a) of the Securities Exchange Act of 1934, delivery of Stock following the expiration of the Restricted
Period for any reason may be delayed for six months. You will be notified if you are a specified employee for purposes of section 409A. 

 Award Date: January 30, 2012 
 Page 3 
  

 After the Stock is delivered to you, you (or your designee(s)) will enjoy all of the
rights and privileges associated with ownership of the shares, including the right to vote on any matter put to stockholder vote, to receive dividends, and to encumber, sell or otherwise transfer the shares. You should note, however, that, while the
shares would thus be free of the restrictions imposed during the Restricted Period, your ability to sell or pledge the shares may be limited under the federal securities laws or corporate policy. 

You have the right to designate a beneficiary (or beneficiaries) to receive your shares in exchange for your RSUs and cash in respect of
the Accrued Dividend Equivalents in the event of your death during the Restricted Period by completing a beneficiary designation form available at http://www.benefitaccess.com and returning it to the Vice President of Total Rewards and
Performance Management at the address below. 
 If, at your death, a completed beneficiary designation form is not on file at
the Vice President of Total Rewards and Performance Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the Accrued Dividend Equivalents in respect of your RSUs will be transferred to your estate.

 RESTRICTED PERIOD, FORFEITURE 
 The vesting of the RSUs awarded under this Award Agreement along with the Accrued Dividend Equivalents is subject to satisfaction of a performance goal as well as your acceptance of this Award Agreement
by May 31, 2012 and your continuous employment with the Corporation from the Award Date until January 30, 2015 (the “Restricted Period”). If any of these requirements are not satisfied, you may forfeit all or part of your RSUs.
Upon forfeiture, you will no longer have the right to receive Stock for forfeited RSUs or to receive cash payments for the Accrued Dividend Equivalents. 
 1. Performance Goal 
 At its first meeting after the Corporation
finalizes the financial results for the year ending December 31, 2012, the Committee will multiply the number of RSUs awarded to you under this Award Agreement by the Fair Market Value of Stock on the Award Date
($[        ]) (“RSU Award Value”). The Committee will then compare your RSU Award Value to the product of 0.10% and the Corporation’s Cash Flow for the year ending December 31, 2012 (with
the product being referred to as the “RSU Performance Goal”). If your RSU Award Value exceeds your RSU Performance Goal (with the amount of that excess referred to as the “Performance Shortfall”) then you will forfeit the number
of whole RSUs that are equal to the Performance Shortfall divided by the Fair Market Value of Stock on the Award Date ($[        ]). 
 For purposes of this Award Agreement, Cash Flow for any period means net cash flow from operations but not taking into account: (i) the aggregate difference between the amount forecasted in the
Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit pension plans during the period and the actual amounts 

 Award Date: January 30, 2012 
 Page 4 
  

 
contributed by the Corporation during the period; and (ii) any tax payments or tax benefits during the period associated with the divestiture of business units, other than tax payments or
tax benefits that were included in the Corporation’s 2012 Long Range Plan. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if
audited financial statements are not available for the period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash
provided by operating activities as reported in its audited consolidated statement of cash flows, in either case as modified by this paragraph. 
 2. Employment Requirement 
 Regardless of the satisfaction of
the RSU Performance Goal, all of your RSUs will be forfeited and all of your rights to the RSUs and to receive Stock for your RSUs and to receive cash payment for the Accrued Dividend Equivalents will cease without further obligation on the part of
the Corporation unless you personally accept this Award Agreement as provided below by May 31, 2012 and continue to provide services to the Corporation as an Employee of the Corporation until the expiration or termination of the Restricted
Period, which will occur on January 30, 2015, subject only to the specific exceptions provided below. 
 DEATH, DISABILITY, LAYOFF,
RETIREMENT 
 1. Death and Disability 

Your RSUs and the Accrued Dividend Equivalents will immediately vest and no longer be subject to the continuing employment requirement or
the potential forfeiture to the extent of a Performance Shortfall if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

The vested RSUs will be exchanged for shares of Stock, and the Accrued Dividend Equivalents will be paid in cash as soon as practicable,
but no later than ninety (90) days after the date of your termination of employment on account of death or total disability, and in no event later than the March 15 next following the year in which such termination occurs. 

In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or by May 31, 2012,
whichever comes first), you will forfeit all of your RSUs granted hereunder and all of your rights to the RSUs and to receive Stock for your RSUs and the Accrued Dividend Equivalents will cease without further obligation on the part of the
Corporation. 

 Award Date: January 30, 2012 
 Page 5 
  

 2. Retirement, Lay Off 

If you retire or are laid off with an effective date before January 30, 2013, you will forfeit all of your RSUs and the Accrued
Dividend Equivalents in accordance with the general rule requiring continuous employment during the Restricted Period. If you retire or are laid off with an effective date on or after January 30, 2013, your RSUs and the Accrued Dividend
Equivalents will continue to be subject to forfeiture to the extent of any Performance Shortfall certified by the Committee prior to, on or after such date; however, subject to any Performance Shortfall that may occur, the Restricted Period will end
for a portion of your RSUs and the Accrued Dividend Equivalents and you will vest in a portion of your RSUs and the Accrued Dividend Equivalents as follows: 
  

	 	(i)	you will vest in one third (1/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that one-third) if your retirement or layoff is
effective on or after the first anniversary of the Award Date (January 30, 2013), but before the second anniversary of the Award Date (January 30, 2014); and 

 

	 	(ii)	you will vest in two thirds (2/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that two-thirds) if your retirement or layoff is
effective on or after the second anniversary of the Award Date (January 30, 2014) but before the third anniversary of the Award Date (January 30, 2015). 

 Notwithstanding the foregoing, your RSUs will not be considered vested until such time as the Committee makes its certification with respect to the RSU Performance Goal. The vested RSUs will be exchanged
for shares of Stock, and the related Accrued Dividend Equivalents associated with the vested portion of your RSUs will be paid in cash as soon as practicable, but no later than ninety (90) days after the later of the Committee’s
certification or your retirement or layoff, and in no event later than the March 15 next following the year in which you retire or are laid off. You will forfeit your remaining RSUs and the related Accrued Dividend Equivalents associated with
forfeited RSUs on the effective date of your retirement or layoff. 
 For purposes of this provision, the term
“retirement” means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans,
termination following attainment of (i) age 55 and five years of service, or (ii) age 65. 
 RESIGNATION OR TERMINATION WITH
OR WITHOUT CAUSE 
 If you resign or your employment otherwise terminates before January 30, 2015, other than on account
of death, disability, layoff, or retirement (or Divestiture or Change in Control as described below) whether voluntarily or by action of the Corporation and in the latter case whether with or without “cause,” you will forfeit your RSUs and
the related Accrued Dividend Equivalents on the date of your termination. 

 Award Date: January 30, 2012 
 Page 6 
  

 DIVESTITURE 
 If the Corporation divests (as defined below) all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or
its subsidiaries and the transfer of such employment to the other party to the divestiture, the special rules in this paragraph will apply. Subject to any Performance Shortfall, your RSUs and the Accrued Dividend Equivalents will vest immediately
(or following the Committee’s determination of any Performance Shortfall, if later) and you will receive shares of Stock in exchange for RSUs and the cash payment for the Accrued Dividend Equivalents as soon as practicable, but no later than
the later of ninety (90) days after your termination of employment with the Corporation or the determination by the Committee of any Performance Shortfall, and in no event later than the March 15 next following the year in which your
employment terminates. For the purposes of this provision, the term “divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership,
joint venture, limited liability company or other business entity of which less than 50% of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled directly or indirectly by the
Corporation, by one or more of the Corporation’s subsidiaries or by a combination thereof. 
 CHANGE IN CONTROL 

In the event your employment is terminated by the Corporation (or its successor) following a Change in Control, your RSUs and the Accrued
Dividend Equivalents will vest and the Restricted Period shall terminate on the date of your termination following the Change in Control. You will vest in your entire Award (including any Accrued Dividend Equivalents) under this Award Agreement and
without regard to any forfeiture that might otherwise occur because of a Performance Shortfall. 
 CHANGES IN CAPITALIZATION 

In the event of a stock split, stock dividend or other similar action resulting in additional shares of Stock being issued to existing
stockholders during the Restricted Period or in the event of a reverse stock split resulting in a contraction in the number of shares outstanding during the Restricted Period, the number of your RSUs will be adjusted in the same manner as if you
held actual shares of Stock. 
 TIMING OF TAXATION AND WITHHOLDING 

Upon the expiration or termination of the Restricted Period, the Fair Market Value of the Stock deliverable to you in respect of the RSUs
will be taxable to you as compensation income, based on the Fair Market Value of Stock on the day the Stock is deliverable to you. We will withhold federal, state, and local income taxes at the minimum rate prescribed by law.

 Award Date: January 30, 2012 
 Page 7 
  

 
Therefore, you may owe taxes relating to the RSUs in addition to the amount withheld by the Corporation. FICA tax withholding also will apply except to the extent FICA taxes have already been
collected in the case of retirement-eligible employees as described below. 
 Your tax basis in shares of Stock delivered to you
in respect of the RSUs will be equal to the Fair Market Value of such shares on the day the Stock is deliverable to you. Your holding period for purposes of determining long-term capital gain or loss treatment on any subsequent sale of such Stock
will begin on that day. 
 Any cash paid to you as Accrued Dividend Equivalents will be taxable to you as compensation income in
the year paid and subject to withholding of federal, state and local income taxes, and FICA taxes. The Corporation will withhold taxes on the Accrued Dividend Equivalents by reducing the cash payable to you, except to the extent FICA taxes have
already been collected in the case of retirement-eligible employees as described below. The Corporation may elect to apply all or part of the Accrued Dividend Equivalents to tax withholding on the Stock, in which case you may not receive any cash
for the Accrued Dividend Equivalents. 
 Unless you deliver cash to the Corporation to satisfy any withholding tax on Stock
deliverable to you in respect of vested RSUs in accordance with procedures established in advance by the Corporation’s Senior Vice President of Human Resources, you will be deemed to have automatically elected to pay any withholding tax (net of
any Accrued Dividend Equivalents applied to withholding) on Stock deliverable to you by means of the Corporation reducing the number of shares of Stock deliverable to you in respect of vested RSUs, based upon the minimum rate of withholding
prescribed by law. 
 In the event you are or become eligible for retirement during the Restricted Period, a portion of
your Award will become subject to FICA taxes prior to the termination of the Restricted Period. FICA taxes will be withheld with respect to the number of RSUs on which the Restricted Period would terminate if you were to retire. The FICA tax will
also apply to any Accrued Dividend Equivalents related to the portion of your RSUs subject to FICA. As an administrative practice in accordance with IRS regulations, the Corporation generally will delay application of these FICA taxes on
retirement-eligible participants until December of the year of withholding (or when the Stock is deliverable, if earlier). FICA taxes will be computed based upon the Fair Market Value of the Stock and the Accrued Dividend Equivalents on the date of
withholding. For example, if you are eligible to retire during the Restricted Period, then you would become subject to FICA taxes on the later of the first anniversary of the Award Date or the date that you become retirement eligible, and FICA taxes
would be withheld even though Stock and the Accrued Dividend Equivalents would not be deliverable to you until the close of the Restricted Period. The Corporation will withhold such FICA tax from your regular wages or MICP payment. The Corporation
may collect the FICA withholding from you either shortly before or after the date it is due and in the case of Insiders may require delivery of a check to satisfy any shortfall in the withholding. 

If Code Section 409A(a)(2)(B)(i) applies because you are a specified employee receiving Stock on account of a termination of
employment or if you are an Insider, your Stock and the 

 Award Date: January 30, 2012 
 Page 8 
  

 
Accrued Dividend Equivalents may not be deliverable to you for six months following such date of termination and, accordingly, the Fair Market Value of the Stock on the date on which the Stock is
deliverable to you and the Accrued Dividend Equivalents (accrued through the date the Stock becomes deliverable to you) shall be used for purposes of determining your compensation income. 
 AMENDMENT AND TERMINATION OF PLAN OR AWARDS 
 As provided in Section 9
of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement. Notwithstanding
Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award Agreement. This
Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Assuming prompt and proper acknowledgment of this Award Agreement as
described, this Award will be effective as of the Award Date. 
 By executing this Award Agreement, you consent to receive
copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address
noted above. 

 Award Date: January 30, 2012 
 Page 9 
  

 If you do not personally acknowledge your acceptance of this Award Agreement on or
before May 31, 2012, this Award will be forfeited as noted above. 
 POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 If you
are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 

Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that
any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. Neither the value of the RSUs awarded to you nor the Accrued
Dividend Equivalents will be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. Notwithstanding any other provision of this Award Agreement to the contrary, no Stock will be issued to you
within six months from the Award Date. 
 Transactions involving Stock delivered under this Award Agreement are subject to the
securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The
Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or RSUs. 

 Award Date: January 30, 2012 
 Page 10 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	 Sincerely,

	
	 David Filomeo

	 (On behalf of the Management Development and

Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

 Award Date: January 30, 2012 
 Page 11 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (RSU Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of restricted stock units to me under the Award Agreement (the “RSUs”) pursuant to the Lockheed Martin Corporation
2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the RSUs, I agree as follows: 

1. Protective Covenants 
 (a) Protection of Proprietary Information, including Trade Secrets and Confidential Information – Except to the extent required by law, following my Termination Date, and in conformance with
the provisions of the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.) and the California Unfair Competition Law (Cal. Business and Professional Code § 17220 et seq.), I will have a continuing
obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or Proprietary Information” (as defined below) of the
Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the terms of such agreements. I will not use or disclose or
allow the use or disclosure by others to any person or entity, for the purpose or effect of competing unfairly with the Corporation, of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was
responsible for creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any
proprietary or confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the
Corporation for assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the
property of the Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to
information that a person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by
third parties or if used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not
limited to: 
  

	 	(i)	 existing and contemplated business, marketing and financial business information such as business plans and methods, marketing

 Award Date: January 30, 2012 
 Page 12 
  

	 	
information, cost estimates, forecasts, financial data, cost or pricing data, bid and proposal information, customer identification, sources of supply, contemplated product lines, proposed
business alliances, and information about customers or competitors, or 

  

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

 

	 	(iii)	any information protected by the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.). 

(b) Non-Solicit - Without the express written consent of the Chief Executive Officer of the Corporation,
during the two-year period following the Termination Date, I will not induce or attempt to induce any person who is an employee of the Corporation to perform work or services for any entity other than the Corporation. This provision does not prevent
the hiring of such persons so long as they are not induced to be one employed in violation of this provision. 
 (c) No
disparagement – Following the Termination Date, I will not make any statements, whether verbal or written, that disparage or reasonably may be interpreted to disparage the Corporation or its stockholders, directors, officers, employees,
agents, attorneys, representatives, technology, products or services with respect to any matter whatsoever. 
 (d)
Cooperation in Litigation and Investigations - Following the Termination Date, I will, to the extent reasonably requested, cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution
proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates is a party or is required or requested to provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could
be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision of this PECA, nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation
or to give truthful testimony in court. 
 2. Consideration and Acknowledgement. I acknowledge and agree that the
benefits and compensation opportunities being made available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the
Corporation and that the grant of the RSUs is expressly made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and
are fair and reasonable in light of the value of the benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions
I hold with the 

 Award Date: January 30, 2012 
 Page 13 
  

 
Corporation and the access to and extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably
required for the protection of the Corporation’s legitimate business interests. 
 3. Remedies For Breach of
Section 1; Additional Remedies of Clawback and Recoupment. 
 (a) If I become (or currently am) an Insider (as defined
in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following
occur: 
  

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

  

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

  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the RSUs
and continue to own the shares of Common Stock of the Corporation issued or issuable in respect of the RSUs, the shares of Common Stock so acquired; (ii) to the extent I have earned any of the RSUs and no longer own the shares of Common Stock
of the Corporation issued or issuable in respect of the RSUs, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless otherwise determined by the Management Development
and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of 

 Award Date: January 30, 2012 
 Page 14 
  

 
Common Stock as finally reported by the New York Stock Exchange on such date), and (iii) to the extent I have not earned the RSUs fully, all of my remaining rights, title or interest in the
RSUs. 
 4. Injunctive Relief. I acknowledge that the Corporation’s remedies at law may be inadequate to protect the
Corporation against any actual or threatened breach of the provisions of Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to any other rights and remedies otherwise available to the Corporation at law
or in equity (including but not limited to, an action under Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to specific performance without proof of actual damages and without the
requirement of the posting of any bond or similar security. 
 5. Invalidity; Unenforceability. It is the desire and
intent of the parties that the provisions of this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to
delete the portion adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of this provision in the particular jurisdiction in which such adjudication is made. 

6. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the RSUs to me. 

(b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or
challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United
States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA
shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of
my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 

This PECA is effective as of the acceptance by me of the award of RSUs under the Award Agreement and is not contingent
on the vesting of my RSUs. 

 Award Date: January 30, 2012 
 Page 15 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 RSU CA PECA SVPHR (performance) 
 Award Date: January 30, 2012 
 THIS DOCUMENT CONSTITUTES PART OF A
PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 

THE SECURITIES ACT OF 1933 

Dear Awardee: 
 The Management
Development and Compensation Committee of the Board of Directors (“Committee”) has awarded you Restricted Stock Units (“RSUs”). Each RSU entitles you, upon satisfaction of the continuous employment and other requirements set
forth in this letter and the Plan, to receive from Lockheed Martin Corporation (“Corporation”): (i) one (1) share of the Corporation’s common stock, par value $1.00 per share, (“Stock”); and (ii) a cash
payment equal to the sum of any cash dividends paid to stockholders of the Corporation during the Restricted Period (as defined below), each in accordance with the terms of this letter, the Lockheed Martin Corporation 2011 Incentive Performance
Award Plan (“Plan”), and any rules and procedures adopted by the Committee. 
 This letter constitutes the Award
Agreement for your RSUs and sets forth some of the terms and conditions of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the
Plan and this Award Agreement are a part. In the event of a conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 

The term Restricted Stock Unit or RSU as used in this Award Agreement refers only to the Restricted Stock Units awarded to you under this
Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 
 Your
Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance
Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement as described, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 
 If you do not
properly acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be forfeited. 

 Award Date: January 30, 2012 
 Page 2 
  

 CONSIDERATION FOR AWARD 
 The consideration for the Restricted Stock Units is your continued service to the Corporation as an Employee during the Restricted Period set forth below. If you do not continue to perform services for
the Corporation as an Employee during the entire Restricted Period as set forth below under “RESTRICTED PERIOD, FORFEITURE,” your Award will be forfeited in whole or in part. 
 RIGHTS OF OWNERSHIP, RESTRICTIONS ON TRANSFER 
 During the Restricted
Period, your RSUs will be subject to forfeiture. Until the Restricted Period ends with respect to a particular RSU and a share of Stock is delivered to you, you generally will not have the rights and privileges of a stockholder. In particular, you
will not have the right to vote your RSUs on any matter put to the stockholders of the Corporation; you may not sell, transfer, assign, pledge, use as collateral or otherwise dispose of or encumber RSUs; and you will not have the right to receive
any dividends or dividend equivalents on the RSUs or the right to receive any dividend paid to stockholders on a share of Stock. 
 Upon expiration or termination of the Restricted Period with respect to your RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be
exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Stock issued in your name (or other name(s) designated by you) and a cash payment equal to the dividends that would have been paid to you had you owned
such share from the Award Date until the expiration or termination of the Restricted Period (“Accrued Dividend Equivalents”). Your shares and the cash payment for the Accrued Dividend Equivalents will be delivered to you as soon as
practicable, but no later than ninety (90) days after the expiration or termination of the Restricted Period. 
 The
certificates delivered to you may contain any legend the Corporation determines is appropriate under the securities laws. At the time the Restricted Period for your RSUs terminates, the Corporation is required to collect from you the appropriate
amount of federal, state and local taxes with respect to both the shares delivered and the cash payment for the Accrued Dividend Equivalents. The Corporation may be required to collect FICA taxes from you prior to the termination of the Restricted
Period if you become eligible for retirement prior to the termination of that period. In this regard, please see “TIMING OF TAXATION AND WITHHOLDING” below. 
 In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on account of a termination of employment, delivery of Stock and the Accrued Dividend
Equivalents may be delayed for six months from such date; similarly, if you are an Insider subject to the reporting provisions of Section 16(a) of the Securities Exchange Act of 1934, delivery of Stock following the expiration of the Restricted
Period for any reason may be delayed for six months. You will be notified if you are a specified employee for purposes of section 409A. 

 Award Date: January 30, 2012 
 Page 3 
  

 After the Stock is delivered to you, you (or your designee(s)) will enjoy all of the
rights and privileges associated with ownership of the shares, including the right to vote on any matter put to stockholder vote, to receive dividends, and to encumber, sell or otherwise transfer the shares. You should note, however, that, while the
shares would thus be free of the restrictions imposed during the Restricted Period, your ability to sell or pledge the shares may be limited under the federal securities laws or corporate policy. 

You have the right to designate a beneficiary (or beneficiaries) to receive your shares in exchange for your RSUs and cash in respect of
the Accrued Dividend Equivalents in the event of your death during the Restricted Period by completing a beneficiary designation form available at http://www.benefitaccess.com and returning it to the Vice President of Total Rewards and
Performance Management at the address below. 
 If, at your death, a completed beneficiary designation form is not on file at
the Vice President of Total Rewards and Performance Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the Accrued Dividend Equivalents in respect of your RSUs will be transferred to your estate.

 RESTRICTED PERIOD, FORFEITURE 
 The vesting of the RSUs awarded under this Award Agreement along with the Accrued Dividend Equivalents is subject to satisfaction of a performance goal as well as your acceptance of this Award Agreement
by May 31, 2012 and your continuous employment with the Corporation from the Award Date until January 30, 2015 (the “Restricted Period”). If any of these requirements are not satisfied, you may forfeit all or part of your RSUs.
Upon forfeiture, you will no longer have the right to receive Stock for forfeited RSUs or to receive cash payments for the Accrued Dividend Equivalents. 
 1. Performance Goal 
 At its first meeting after the Corporation
finalizes the financial results for the year ending December 31, 2012, the Committee will multiply the number of RSUs awarded to you under this Award Agreement by the Fair Market Value of Stock on the Award Date
($[        ]) (“RSU Award Value”). The Committee will then compare your RSU Award Value to the product of 0.10% and the Corporation’s Cash Flow for the year ending December 31, 2012 (with
the product being referred to as the “RSU Performance Goal”). If your RSU Award Value exceeds your RSU Performance Goal (with the amount of that excess referred to as the “Performance Shortfall”) then you will forfeit the number
of whole RSUs that are equal to the Performance Shortfall divided by the Fair Market Value of Stock on the Award Date ($[        ]). 
 For purposes of this Award Agreement, Cash Flow for any period means net cash flow from operations but not taking into account: (i) the aggregate difference between the amount forecasted in the
Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit pension plans during the period and the actual amounts 

 Award Date: January 30, 2012 
 Page 4 
  

 
contributed by the Corporation during the period; and (ii) any tax payments or tax benefits during the period associated with the divestiture of business units, other than tax payments or
tax benefits that were included in the Corporation’s 2012 Long Range Plan. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if
audited financial statements are not available for the period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash
provided by operating activities as reported in its audited consolidated statement of cash flows, in either case as modified by this paragraph. 
 2. Employment Requirement 
 Regardless of the satisfaction of
the RSU Performance Goal, all of your RSUs will be forfeited and all of your rights to the RSUs and to receive Stock for your RSUs and to receive cash payment for the Accrued Dividend Equivalents will cease without further obligation on the part of
the Corporation unless you personally accept this Award Agreement as provided below by May 31, 2012 and continue to provide services to the Corporation as an Employee of the Corporation until the expiration or termination of the Restricted
Period, which will occur on January 30, 2015, subject only to the specific exceptions provided below. 
 DEATH, DISABILITY, LAYOFF,
RETIREMENT 
 1. Death and Disability 
 Your RSUs and the Accrued Dividend Equivalents will immediately vest and no longer be subject to the continuing employment requirement or the potential forfeiture to the extent of a Performance Shortfall
if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

The vested RSUs will be exchanged for shares of Stock, and the Accrued Dividend Equivalents will be paid in cash as soon as practicable,
but no later than ninety (90) days after the date of your termination of employment on account of death or total disability, and in no event later than the March 15 next following the year in which such termination occurs. 

In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or by May 31, 2012,
whichever comes first), you will forfeit all of your RSUs granted hereunder and all of your rights to the RSUs and to receive Stock for your RSUs and the Accrued Dividend Equivalents will cease without further obligation on the part of the
Corporation. 

 Award Date: January 30, 2012 
 Page 5 
  

 2. Retirement, Lay Off 

If you retire or are laid off with an effective date before January 30, 2013, you will forfeit all of your RSUs and the Accrued
Dividend Equivalents in accordance with the general rule requiring continuous employment during the Restricted Period. If you retire or are laid off with an effective date on or after January 30, 2013, your RSUs and the Accrued Dividend
Equivalents will continue to be subject to forfeiture to the extent of any Performance Shortfall certified by the Committee prior to, on or after such date; however, subject to any Performance Shortfall that may occur, the Restricted Period will end
for a portion of your RSUs and the Accrued Dividend Equivalents and you will vest in a portion of your RSUs and the Accrued Dividend Equivalents as follows: 
  

	 	(i)	you will vest in one third (1/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that one-third) if your retirement or layoff is
effective on or after the first anniversary of the Award Date (January 30, 2013), but before the second anniversary of the Award Date (January 30, 2014); and 

 

	 	(ii)	you will vest in two thirds (2/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that two-thirds) if your retirement or layoff is
effective on or after the second anniversary of the Award Date (January 30, 2014) but before the third anniversary of the Award Date (January 30, 2015). 

 Notwithstanding the foregoing, your RSUs will not be considered vested until such time as the Committee makes its certification with respect to the RSU Performance Goal. The vested RSUs will be exchanged
for shares of Stock, and the related Accrued Dividend Equivalents associated with the vested portion of your RSUs will be paid in cash as soon as practicable, but no later than ninety (90) days after the later of the Committee’s
certification or your retirement or layoff, and in no event later than the March 15 next following the year in which you retire or are laid off. You will forfeit your remaining RSUs and the related Accrued Dividend Equivalents associated with
forfeited RSUs on the effective date of your retirement or layoff. 
 For purposes of this provision, the term
“retirement” means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans,
termination following attainment of (i) age 55 and five years of service, or (ii) age 65. 
 RESIGNATION OR TERMINATION WITH
OR WITHOUT CAUSE 
 If you resign or your employment otherwise terminates before January 30, 2015, other than on account
of death, disability, layoff, or retirement (or Divestiture or Change in Control as described below) whether voluntarily or by action of the Corporation and in the latter case whether with or without “cause,” you will forfeit your RSUs and
the related Accrued Dividend Equivalents on the date of your termination. 

 Award Date: January 30, 2012 
 Page 6 
  

 DIVESTITURE 
 If the Corporation divests (as defined below) all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or
its subsidiaries and the transfer of such employment to the other party to the divestiture, the special rules in this paragraph will apply. Subject to any Performance Shortfall, your RSUs and the Accrued Dividend Equivalents will vest immediately
(or following the Committee’s determination of any Performance Shortfall, if later) and you will receive shares of Stock in exchange for RSUs and the cash payment for the Accrued Dividend Equivalents as soon as practicable, but no later than
the later of ninety (90) days after your termination of employment with the Corporation or the determination by the Committee of any Performance Shortfall, and in no event later than the March 15 next following the year in which your
employment terminates. For the purposes of this provision, the term “divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership,
joint venture, limited liability company or other business entity of which less than 50% of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled directly or indirectly by the
Corporation, by one or more of the Corporation’s subsidiaries or by a combination thereof. 
 CHANGE IN CONTROL 

In the event your employment is terminated by the Corporation (or its successor) following a Change in Control, your RSUs and the Accrued
Dividend Equivalents will vest and the Restricted Period shall terminate on the date of your termination following the Change in Control. You will vest in your entire Award (including any Accrued Dividend Equivalents) under this Award Agreement and
without regard to any forfeiture that might otherwise occur because of a Performance Shortfall. 
 CHANGES IN CAPITALIZATION 

In the event of a stock split, stock dividend or other similar action resulting in additional shares of Stock being issued to existing
stockholders during the Restricted Period or in the event of a reverse stock split resulting in a contraction in the number of shares outstanding during the Restricted Period, the number of your RSUs will be adjusted in the same manner as if you
held actual shares of Stock. 
 TIMING OF TAXATION AND WITHHOLDING 

Upon the expiration or termination of the Restricted Period, the Fair Market Value of the Stock deliverable to you in respect of the RSUs
will be taxable to you as compensation income, based on the Fair Market Value of Stock on the day the Stock is deliverable to you. We will withhold federal, state, and local income taxes at the minimum rate prescribed by law.

 Award Date: January 30, 2012 
 Page 7 
  

 
Therefore, you may owe taxes relating to the RSUs in addition to the amount withheld by the Corporation. FICA tax withholding also will apply except to the extent FICA taxes have already been
collected in the case of retirement-eligible employees as described below. 
 Your tax basis in shares of Stock delivered to you
in respect of the RSUs will be equal to the Fair Market Value of such shares on the day the Stock is deliverable to you. Your holding period for purposes of determining long-term capital gain or loss treatment on any subsequent sale of such Stock
will begin on that day. 
 Any cash paid to you as Accrued Dividend Equivalents will be taxable to you as compensation income in
the year paid and subject to withholding of federal, state and local income taxes, and FICA taxes. The Corporation will withhold taxes on the Accrued Dividend Equivalents by reducing the cash payable to you, except to the extent FICA taxes have
already been collected in the case of retirement-eligible employees as described below. The Corporation may elect to apply all or part of the Accrued Dividend Equivalents to tax withholding on the Stock, in which case you may not receive any cash
for the Accrued Dividend Equivalents. 
 Unless you deliver cash to the Corporation to satisfy any withholding tax on Stock
deliverable to you in respect of vested RSUs in accordance with procedures established in advance by the Corporation’s Senior Vice President of Human Resources, you will be deemed to have automatically elected to pay any withholding tax (net of
any Accrued Dividend Equivalents applied to withholding) on Stock deliverable to you by means of the Corporation reducing the number of shares of Stock deliverable to you in respect of vested RSUs, based upon the minimum rate of withholding
prescribed by law. 
 In the event you are or become eligible for retirement during the Restricted Period, a portion of your
Award will become subject to FICA taxes prior to the termination of the Restricted Period. FICA taxes will be withheld with respect to the number of RSUs on which the Restricted Period would terminate if you were to retire. The FICA tax will also
apply to any Accrued Dividend Equivalents related to the portion of your RSUs subject to FICA. As an administrative practice in accordance with IRS regulations, the Corporation generally will delay application of these FICA taxes on
retirement-eligible participants until December of the year of withholding (or when the Stock is deliverable, if earlier). FICA taxes will be computed based upon the Fair Market Value of the Stock and the Accrued Dividend Equivalents on the date of
withholding. For example, if you are eligible to retire during the Restricted Period, then you would become subject to FICA taxes on the later of the first anniversary of the Award Date or the date that you become retirement eligible, and FICA taxes
would be withheld even though Stock and the Accrued Dividend Equivalents would not be deliverable to you until the close of the Restricted Period. The Corporation will withhold such FICA tax from your regular wages or MICP payment. The Corporation
may collect the FICA withholding from you either shortly before or after the date it is due and in the case of Insiders may require delivery of a check to satisfy any shortfall in the withholding. 

If Code Section 409A(a)(2)(B)(i) applies because you are a specified employee receiving Stock on account of a termination of
employment or if you are an Insider, your Stock and the 

 Award Date: January 30, 2012 
 Page 8 
  

 
Accrued Dividend Equivalents may not be deliverable to you for six months following such date of termination and, accordingly, the Fair Market Value of the Stock on the date on which the Stock is
deliverable to you and the Accrued Dividend Equivalents (accrued through the date the Stock becomes deliverable to you) shall be used for purposes of determining your compensation income. 
 AMENDMENT AND TERMINATION OF PLAN OR AWARDS 
 As provided in Section 9
of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement. Notwithstanding
Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award Agreement. This
Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Assuming prompt and proper acknowledgment of this Award Agreement as
described, this Award will be effective as of the Award Date. 
 By executing this Award Agreement, you consent to receive
copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address
noted above. 

 Award Date: January 30, 2012 
 Page 9 
  

 If you do not personally acknowledge your acceptance of this Award Agreement on or
before May 31, 2012, this Award will be forfeited as noted above. 
 POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 If you
are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 

Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that
any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. Neither the value of the RSUs awarded to you nor the Accrued
Dividend Equivalents will be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. Notwithstanding any other provision of this Award Agreement to the contrary, no Stock will be issued to you
within six months from the Award Date. 
 Transactions involving Stock delivered under this Award Agreement are subject to the
securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The
Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or RSUs. 

 Award Date: January 30, 2012 
 Page 10 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	 Sincerely,

	
	 David Filomeo

	 (On behalf of the Management Development and

Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

 Award Date: January 30, 2012 
 Page 11 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (RSU Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of restricted stock units to me under the Award Agreement (the “RSUs”) pursuant to the Lockheed Martin Corporation
2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the RSUs, I agree as follows: 

1. Protective Covenants 
 (a) Protection of Proprietary Information, including Trade Secrets and Confidential Information – Except to the extent required by law, following my Termination Date, and in conformance with
the provisions of the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.) and the California Unfair Competition Law (Cal. Business and Professional Code § 17220 et seq.), I will have a continuing
obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or Proprietary Information” (as defined below) of the
Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the terms of such agreements. I will not use or disclose or
allow the use or disclosure by others to any person or entity, for the purpose or effect of competing unfairly with the Corporation, of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was
responsible for creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any
proprietary or confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the
Corporation for assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the
property of the Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to
information that a person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by
third parties or if used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not
limited to: 
  

	 	(i)	 existing and contemplated business, marketing and financial business information such as business plans and methods, marketing information,

 Award Date: January 30, 2012 
 Page 12 
  

	 	
cost estimates, forecasts, financial data, cost or pricing data, bid and proposal information, customer identification, sources of supply, contemplated product lines, proposed business alliances,
and information about customers or competitors, or 

  

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

 

	 	(iii)	any information protected by the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.). 

(b) Non-Solicit - Without the express written consent of the Senior Vice President, Human Resources of the
Corporation, during the one-year period following the Termination Date, I will not induce or attempt to induce any person who is an employee of the Corporation to perform work or services for any entity other than the Corporation. This provision
does not prevent the hiring of such persons so long as they are not induced to be one employed in violation of this provision. 

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

(d) Cooperation in Litigation and Investigations - Following the Termination Date, I will, to the extent reasonably requested,
cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates is a party or is required or requested to
provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision of this PECA,
nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 
 2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made available to me under the Award Agreement are in addition to the benefits
and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the RSUs is expressly made contingent upon my agreements with the Corporation set forth in this
PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the benefits and compensation

 Award Date: January 30, 2012 
 Page 13 
  

 
opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the
Corporation and the access to and extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s
legitimate business interests. 
 3. Remedies For Breach of Section 1; Additional Remedies of Clawback and
Recoupment. 
 (a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive
Performance Award, I agree, upon demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the RSUs
and continue to own the shares of Common Stock of the Corporation issued or issuable in respect of the RSUs, the shares of Common Stock so acquired; (ii) to the extent I have earned any of the RSUs and no longer own the shares of Common Stock
of the Corporation issued or issuable in respect of the RSUs, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless

 Award Date: January 30, 2012 
 Page 14 
  

 
otherwise determined by the Management Development and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as
finally reported by the New York Stock Exchange on such date), and (iii) to the extent I have not earned the RSUs fully, all of my remaining rights, title or interest in the RSUs. 

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

6. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the RSUs to me. 

(b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or
challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United
States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA
shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of
my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 

This PECA is effective as of the acceptance by me of the award of RSUs under the Award Agreement and is not contingent
on the vesting of my RSUs. 

 Award Date: January 30, 2012 
 Page 15 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	Chief Executive Officer	  	6 times
	President/Chief Operating Officer	  	5 times
	Chief Financial Officer	  	4 times
	Business Area Executive Vice Presidents	  	3 times
	Corporate Senior Vice Presidents	  	2 times
	Other Elected Officers	  	2 times
	All Other Vice Presidents	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 RSU CA PECA SVPHR (nonperformance) 
  

 Award Date: January 30, 2012 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 
 THE SECURITIES ACT OF 1933

 Dear Awardee: 

The Management Development and Compensation Committee of the Board of Directors (“Committee”) has awarded you Restricted Stock
Units (“RSUs”). Each RSU entitles you, upon satisfaction of the continuous employment and other requirements set forth in this letter and the Plan, to receive from Lockheed Martin Corporation (“Corporation”): (i) one
(1) share of the Corporation’s common stock, par value $1.00 per share, (“Stock”); and (ii) a cash payment equal to the sum of any cash dividends paid to stockholders of the Corporation during the Restricted Period (as
defined below), each in accordance with the terms of this letter, the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (“Plan”), and any rules and procedures adopted by the Committee. 

This letter constitutes the Award Agreement for your RSUs and sets forth some of the terms and conditions of your Award under the Plan,
as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the Plan and this Award Agreement are a part. In the event of a conflict between this letter and the Plan,
the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 
 The term Restricted Stock
Unit or RSU as used in this Award Agreement refers only to the Restricted Stock Units awarded to you under this Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 

Your Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic
receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper
acknowledgement of your acceptance of this Award Agreement as described, this Award will be effective as of the Award Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with
respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A (“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 

If you do not properly acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be
forfeited. 

 Award Date: January 30, 2012 
 Page 2 
  

 CONSIDERATION FOR AWARD 
 The consideration for the Restricted Stock Units is your continued service to the Corporation as an Employee during the Restricted Period set forth below. If you do not continue to perform services for
the Corporation as an Employee during the entire Restricted Period as set forth below under “RESTRICTED PERIOD, FORFEITURE,” your Award will be forfeited in whole or in part. 
 RIGHTS OF OWNERSHIP, RESTRICTIONS ON TRANSFER 
 During the Restricted
Period, your RSUs will be subject to forfeiture. Until the Restricted Period ends with respect to a particular RSU and a share of Stock is delivered to you, you generally will not have the rights and privileges of a stockholder. In particular, you
will not have the right to vote your RSUs on any matter put to the stockholders of the Corporation; you may not sell, transfer, assign, pledge, use as collateral or otherwise dispose of or encumber RSUs; and you will not have the right to receive
any dividends or dividend equivalents on the RSUs or the right to receive any dividend paid to stockholders on a share of Stock. 
 Upon expiration or termination of the Restricted Period with respect to your RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be
exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Stock issued in your name (or other name(s) designated by you) and a cash payment equal to the dividends that would have been paid to you had you owned
such share from the Award Date until the expiration or termination of the Restricted Period (“Accrued Dividend Equivalents”). Your shares and the cash payment for the Accrued Dividend Equivalents will be delivered to you as soon as
practicable, but no later than ninety (90) days after the expiration or termination of the Restricted Period. 
 The
certificates delivered to you may contain any legend the Corporation determines is appropriate under the securities laws. At the time the Restricted Period for your RSUs terminates, the Corporation is required to collect from you the appropriate
amount of federal, state and local taxes with respect to both the shares delivered and the cash payment for the Accrued Dividend Equivalents. The Corporation may be required to collect FICA taxes from you prior to the termination of the Restricted
Period if you become eligible for retirement prior to the termination of that period. In this regard, please see “TIMING OF TAXATION AND WITHHOLDING” below. 
 In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on account of a termination of employment, delivery of Stock and the Accrued Dividend
Equivalents may be delayed for six months from such date; similarly, if you are an Insider subject to the reporting provisions of Section 16(a) of the Securities Exchange Act of 1934, delivery of Stock following the expiration of the Restricted
Period for any reason may be delayed for six months. You will be notified if you are a specified employee for purposes of section 409A. 

 Award Date: January 30, 2012 
 Page 3 
  

 After the Stock is delivered to you, you (or your designee(s)) will enjoy all of the
rights and privileges associated with ownership of the shares, including the right to vote on any matter put to stockholder vote, to receive dividends, and to encumber, sell or otherwise transfer the shares. You should note, however, that, while the
shares would thus be free of the restrictions imposed during the Restricted Period, your ability to sell or pledge the shares may be limited under the federal securities laws or corporate policy. 

You have the right to designate a beneficiary (or beneficiaries) to receive your shares in exchange for your RSUs and cash in respect of
the Accrued Dividend Equivalents in the event of your death during the Restricted Period by completing a beneficiary designation form available at http://www.benefitaccess.com and returning it to the Vice President of Total Rewards and
Performance Management at the address below. 
 If, at your death, a completed beneficiary designation form is not on file at
the Vice President of Total Rewards and Performance Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the Accrued Dividend Equivalents in respect of your RSUs will be transferred to your estate.

 RESTRICTED PERIOD, FORFEITURE 
 The vesting of the RSUs awarded under this Award Agreement along with the Accrued Dividend Equivalents is subject to your acceptance of this Award Agreement by May 31, 2012 and your continuous
employment with the Corporation from the Award Date until January 30, 2015 (the “Restricted Period”). All of your RSUs will be forfeited and all of your rights to the RSUs and to receive Stock for your RSUs and to receive cash payment
for the Accrued Dividend Equivalents will cease without further obligation on the part of the Corporation unless you personally accept this Award Agreement as provided below by May 31, 2012 and continue to provide services to the Corporation as
an Employee of the Corporation until the expiration or termination of the Restricted Period, which will occur on January 30, 2015, subject only to the specific exceptions provided below. 
 DEATH, DISABILITY, LAYOFF, RETIREMENT 
 1. Death and Disability

 Your RSUs and the Accrued Dividend Equivalents will immediately vest and no longer be subject to the continuing employment
requirement if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

 Award Date: January 30, 2012 
 Page 4 
  

 The vested RSUs will be exchanged for shares of Stock, and the Accrued Dividend
Equivalents will be paid in cash as soon as practicable, but no later than ninety (90) days after the date of your termination of employment on account of death or total disability, and in no event later than the March 15 next following
the year in which such termination occurs. 
 In the event that you die and have not properly acknowledged acceptance of the
Award prior to your death (or by May 31, 2012, whichever comes first), you will forfeit all of your RSUs granted hereunder and all of your rights to the RSUs and to receive Stock for your RSUs and the Accrued Dividend Equivalents will cease
without further obligation on the part of the Corporation. 
 2. Retirement, Lay Off 

If you retire or are laid off with an effective date before January 30, 2013, you will forfeit all of your RSUs and the Accrued
Dividend Equivalents in accordance with the general rule requiring continuous employment during the Restricted Period. If you retire or are laid off with an effective date on or after January 30, 2013, the Restricted Period will end for a
portion of your RSUs and the Accrued Dividend Equivalents and you will vest in a portion of your RSUs and the Accrued Dividend Equivalents as follows: 
  

	 	(i)	you will vest in one third (1/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that one-third) if your retirement or layoff is
effective on or after the first anniversary of the Award Date (January 30, 2013), but before the second anniversary of the Award Date (January 30, 2014); and 

 

	 	(ii)	you will vest in two thirds (2/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that two-thirds) if your retirement or layoff is
effective on or after the second anniversary of the Award Date (January 30, 2014) but before the third anniversary of the Award Date (January 30, 2015). 

 The vested RSUs will be exchanged for shares of Stock, and the related Accrued Dividend Equivalents associated with the vested portion of your RSUs will be paid in cash as soon as practicable, but no
later than ninety (90) days after your retirement or layoff, and in no event later than the March 15 next following the year in which you retire or are laid off. You will forfeit your remaining RSUs and the related Accrued Dividend
Equivalents associated with forfeited RSUs on the effective date of your retirement or layoff. 
 For purposes of this
provision, the term “retirement” means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined
benefit pension plans, termination following attainment of (i) age 55 and five years of service, or (ii) age 65. 

 Award Date: January 30, 2012 
 Page 5 
  

 RESIGNATION OR TERMINATION WITH OR WITHOUT CAUSE 

If you resign or your employment otherwise terminates before January 30, 2015, other than on account of death, disability, layoff, or
retirement (or Divestiture or Change in Control as described below) whether voluntarily or by action of the Corporation and in the latter case whether with or without “cause,” you will forfeit your RSUs and the related Accrued Dividend
Equivalents on the date of your termination. 
 DIVESTITURE 
 If the Corporation divests (as defined below) all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or
its subsidiaries and the transfer of such employment to the other party to the divestiture, the special rules in this paragraph will apply. Your RSUs and the Accrued Dividend Equivalents will vest immediately and you will receive shares of Stock in
exchange for RSUs and the cash payment for the Accrued Dividend Equivalents as soon as practicable, but no later than ninety (90) days after your termination of employment with the Corporation, and in no event later than the March 15 next
following the year in which your employment terminates. For the purposes of this provision, the term “divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person,
corporation, association, partnership, joint venture, limited liability company or other business entity of which less than 50% of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled
directly or indirectly by the Corporation, by one or more of the Corporation’s subsidiaries or by a combination thereof. 
 CHANGE IN
CONTROL 
 In the event your employment is terminated by the Corporation (or its successor) following a Change in Control,
your RSUs and the Accrued Dividend Equivalents will vest and the Restricted Period shall terminate on the date of your termination following the Change in Control. 
 CHANGES IN CAPITALIZATION 
 In the event of a stock split, stock dividend or
other similar action resulting in additional shares of Stock being issued to existing stockholders during the Restricted Period or in the event of a reverse stock split resulting in a contraction in the number of shares outstanding during the
Restricted Period, the number of your RSUs will be adjusted in the same manner as if you held actual shares of Stock. 
 TIMING OF TAXATION
AND WITHHOLDING 
 Upon the expiration or termination of the Restricted Period, the Fair Market Value of the Stock
deliverable to you in respect of the RSUs will be taxable to you as compensation income, 

 Award Date: January 30, 2012 
 Page 6 
  

 
based on the Fair Market Value of Stock on the day the Stock is deliverable to you. We will withhold federal, state, and local income taxes at the minimum rate prescribed by law. Therefore, you
may owe taxes relating to the RSUs in addition to the amount withheld by the Corporation. FICA tax withholding also will apply except to the extent FICA taxes have already been collected in the case of retirement-eligible employees as described
below. 
 Your tax basis in shares of Stock delivered to you in respect of the RSUs will be equal to the Fair Market Value of
such shares on the day the Stock is deliverable to you. Your holding period for purposes of determining long-term capital gain or loss treatment on any subsequent sale of such Stock will begin on that day. 

Any cash paid to you as Accrued Dividend Equivalents will be taxable to you as compensation income in the year paid and subject to
withholding of federal, state and local income taxes, and FICA taxes. The Corporation will withhold taxes on the Accrued Dividend Equivalents by reducing the cash payable to you, except to the extent FICA taxes have already been collected in the
case of retirement-eligible employees as described below. The Corporation may elect to apply all or part of the Accrued Dividend Equivalents to tax withholding on the Stock, in which case you may not receive any cash for the Accrued Dividend
Equivalents. 
 Unless you deliver cash to the Corporation to satisfy any withholding tax on Stock deliverable to you in respect
of vested RSUs in accordance with procedures established in advance by the Corporation’s Senior Vice President of Human Resources, you will be deemed to have automatically elected to pay any withholding tax (net of any Accrued Dividend
Equivalents applied to withholding) on Stock deliverable to you by means of the Corporation reducing the number of shares of Stock deliverable to you in respect of vested RSUs, based upon the minimum rate of withholding prescribed by law.

 In the event you are or become eligible for retirement during the Restricted Period, a portion of your Award will
become subject to FICA taxes prior to the termination of the Restricted Period. FICA taxes will be withheld with respect to the number of RSUs on which the Restricted Period would terminate if you were to retire. The FICA tax will also apply to any
Accrued Dividend Equivalents related to the portion of your RSUs subject to FICA. As an administrative practice in accordance with IRS regulations, the Corporation generally will delay application of these FICA taxes on retirement-eligible
participants until December of the year of withholding (or when the Stock is deliverable, if earlier). FICA taxes will be computed based upon the Fair Market Value of the Stock and the Accrued Dividend Equivalents on the date of withholding. For
example, if you are eligible to retire during the Restricted Period, then you would become subject to FICA taxes on the later of the first anniversary of the Award Date or the date that you become retirement eligible, and FICA taxes would be
withheld even though Stock and the Accrued Dividend Equivalents would not be deliverable to you until the close of the Restricted Period. The Corporation will withhold such FICA tax from your regular wages or MICP payment. The Corporation may
collect the FICA withholding from you either shortly before or after the date it is due and in the case of Insiders may require delivery of a check to satisfy any shortfall in the withholding. 

 Award Date: January 30, 2012 
 Page 7 
  

 If Code Section 409A(a)(2)(B)(i) applies because you are a specified employee
receiving Stock on account of a termination of employment or if you are an Insider, your Stock and the Accrued Dividend Equivalents may not be deliverable to you for six months following such date of termination and, accordingly, the Fair Market
Value of the Stock on the date on which the Stock is deliverable to you and the Accrued Dividend Equivalents (accrued through the date the Stock becomes deliverable to you) shall be used for purposes of determining your compensation income.

 AMENDMENT AND TERMINATION OF PLAN OR AWARDS 
 As provided in Section 9 of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee
may at any time alter or amend this Award Agreement. Notwithstanding Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written
consent, adversely affect your rights under this Award Agreement. This Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 

ACCEPTANCE OF AWARD 
 No
Award is enforceable until you properly acknowledge your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but
in no event later than May 31, 2012. Acceptance of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your
disability or deployment in the Armed Forces (and not by your estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized
electronic means for the delivery and acceptance of this Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this
letter on or before May 31, 2012 as follows: 
  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Assuming prompt and proper acknowledgment of this Award Agreement as
described, this Award will be effective as of the Award Date. 
 By executing this Award Agreement, you consent to receive
copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address
noted above. 

 Award Date: January 30, 2012 
 Page 8 
  

 If you do not personally acknowledge your acceptance of this Award Agreement on or
before May 31, 2012, this Award will be forfeited as noted above. 
 POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 If you
are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 

Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that
any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. Neither the value of the RSUs awarded to you nor the Accrued
Dividend Equivalents will be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. Notwithstanding any other provision of this Award Agreement to the contrary, no Stock will be issued to you
within six months from the Award Date. 
 Transactions involving Stock delivered under this Award Agreement are subject to the
securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The
Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or RSUs. 

 Award Date: January 30, 2012 
 Page 9 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	Sincerely,
	
	David Filomeo
	(On behalf of the Management Development and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

  

 Award Date: January 30, 2012 
 Page 10 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (RSU Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of restricted stock units to me under the Award Agreement (the “RSUs”) pursuant to the Lockheed Martin Corporation
2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the RSUs, I agree as follows: 

1. Protective Covenants 
 (a) Protection of Proprietary Information, including Trade Secrets and Confidential Information – Except to the extent required by law, following my Termination Date, and in conformance with
the provisions of the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.) and the California Unfair Competition Law (Cal. Business and Professional Code § 17220 et seq.), I will have a continuing
obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or Proprietary Information” (as defined below) of the
Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the terms of such agreements. I will not use or disclose or
allow the use or disclosure by others to any person or entity, for the purpose or effect of competing unfairly with the Corporation, of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was
responsible for creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any
proprietary or confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the
Corporation for assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the
property of the Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to
information that a person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by
third parties or if used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not
limited to: 
  

	 	(i)	 existing and contemplated business, marketing and financial business information such as business plans and methods, marketing information,

 Award Date: January 30, 2012 
 Page 11 
  

	 	
cost estimates, forecasts, financial data, cost or pricing data, bid and proposal information, customer identification, sources of supply, contemplated product lines, proposed business alliances,
and information about customers or competitors, or 

  

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

 

	 	(iii)	any information protected by the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.). 

(b) Non-Solicit - Without the express written consent of the Senior Vice President, Human Resources of the
Corporation, during the one-year period following the Termination Date, I will not induce or attempt to induce any person who is an employee of the Corporation to perform work or services for any entity other than the Corporation. This provision
does not prevent the hiring of such persons so long as they are not induced to be one employed in violation of this provision. 

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

(d) Cooperation in Litigation and Investigations - Following the Termination Date, I will, to the extent reasonably requested,
cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates is a party or is required or requested to
provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision of this PECA,
nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 
 2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made available to me under the Award Agreement are in addition to the benefits
and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the RSUs is expressly made contingent upon my agreements with the Corporation set forth in this
PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the benefits and compensation

 Award Date: January 30, 2012 
 Page 12 
  

 
opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the
Corporation and the access to and extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s
legitimate business interests. 
 3. Remedies For Breach of Section 1; Additional Remedies of Clawback and
Recoupment. 
 (a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive
Performance Award, I agree, upon demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the RSUs
and continue to own the shares of Common Stock of the Corporation issued or issuable in respect of the RSUs, the shares of Common Stock so acquired; (ii) to the extent I have earned any of the RSUs and no longer own the shares of Common Stock
of the Corporation issued or issuable in respect of the RSUs, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless

 Award Date: January 30, 2012 
 Page 13 
  

 
otherwise determined by the Management Development and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as
finally reported by the New York Stock Exchange on such date), and (iii) to the extent I have not earned the RSUs fully, all of my remaining rights, title or interest in the RSUs. 

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

6. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the RSUs to me. 

(b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or
challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United
States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA
shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of
my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 

This PECA is effective as of the acceptance by me of the award of RSUs under the Award Agreement and is not contingent
on the vesting of my RSUs. 

 Award Date: January 30, 2012 
 Page 14 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 RSU PECA Attorney (performance) 

 

 Award Date: January 30, 2012 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 
 THE SECURITIES ACT OF 1933

 Dear Awardee: 

The Management Development and Compensation Committee of the Board of Directors (“Committee”) has awarded you Restricted Stock
Units (“RSUs”). Each RSU entitles you, upon satisfaction of the continuous employment and other requirements set forth in this letter and the Plan, to receive from Lockheed Martin Corporation (“Corporation”): (i) one
(1) share of the Corporation’s common stock, par value $1.00 per share, (“Stock”); and (ii) a cash payment equal to the sum of any cash dividends paid to stockholders of the Corporation during the Restricted Period (as
defined below), each in accordance with the terms of this letter, the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (“Plan”), and any rules and procedures adopted by the Committee. 

This letter constitutes the Award Agreement for your RSUs and sets forth some of the terms and conditions of your Award under the Plan,
as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the Plan and this Award Agreement are a part. In the event of a conflict between this letter and the Plan,
the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 
 The term Restricted Stock
Unit or RSU as used in this Award Agreement refers only to the Restricted Stock Units awarded to you under this Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 

Your Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic
receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper
acknowledgement of your acceptance of this Award Agreement as described, this Award will be effective as of the Award Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with
respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A (“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 

If you do not properly acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be
forfeited. 

 Award Date: January 30, 2012 
 Page 2 
  

 CONSIDERATION FOR AWARD 
 The consideration for the Restricted Stock Units is your continued service to the Corporation as an Employee during the Restricted Period set forth below. If you do not continue to perform services for
the Corporation as an Employee during the entire Restricted Period as set forth below under “RESTRICTED PERIOD, FORFEITURE,” your Award will be forfeited in whole or in part. 
 RIGHTS OF OWNERSHIP, RESTRICTIONS ON TRANSFER 
 During the Restricted
Period, your RSUs will be subject to forfeiture. Until the Restricted Period ends with respect to a particular RSU and a share of Stock is delivered to you, you generally will not have the rights and privileges of a stockholder. In particular, you
will not have the right to vote your RSUs on any matter put to the stockholders of the Corporation; you may not sell, transfer, assign, pledge, use as collateral or otherwise dispose of or encumber RSUs; and you will not have the right to receive
any dividends or dividend equivalents on the RSUs or the right to receive any dividend paid to stockholders on a share of Stock. 
 Upon expiration or termination of the Restricted Period with respect to your RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be
exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Stock issued in your name (or other name(s) designated by you) and a cash payment equal to the dividends that would have been paid to you had you owned
such share from the Award Date until the expiration or termination of the Restricted Period (“Accrued Dividend Equivalents”). Your shares and the cash payment for the Accrued Dividend Equivalents will be delivered to you as soon as
practicable, but no later than ninety (90) days after the expiration or termination of the Restricted Period. 
 The
certificates delivered to you may contain any legend the Corporation determines is appropriate under the securities laws. At the time the Restricted Period for your RSUs terminates, the Corporation is required to collect from you the appropriate
amount of federal, state and local taxes with respect to both the shares delivered and the cash payment for the Accrued Dividend Equivalents. The Corporation may be required to collect FICA taxes from you prior to the termination of the Restricted
Period if you become eligible for retirement prior to the termination of that period. In this regard, please see “TIMING OF TAXATION AND WITHHOLDING” below. 
 In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on account of a termination of employment, delivery of Stock and the Accrued Dividend
Equivalents may be delayed for six months from such date; similarly, if you are an Insider subject to the reporting provisions of Section 16(a) of the Securities Exchange Act of 1934, delivery of Stock following the expiration of the Restricted
Period for any reason may be delayed for six months. You will be notified if you are a specified employee for purposes of section 409A. 

 Award Date: January 30, 2012 
 Page 3 
  

 After the Stock is delivered to you, you (or your designee(s)) will enjoy all of the
rights and privileges associated with ownership of the shares, including the right to vote on any matter put to stockholder vote, to receive dividends, and to encumber, sell or otherwise transfer the shares. You should note, however, that, while the
shares would thus be free of the restrictions imposed during the Restricted Period, your ability to sell or pledge the shares may be limited under the federal securities laws or corporate policy. 

You have the right to designate a beneficiary (or beneficiaries) to receive your shares in exchange for your RSUs and cash in respect of
the Accrued Dividend Equivalents in the event of your death during the Restricted Period by completing a beneficiary designation form available at http://www.benefitaccess.com and returning it to the Vice President of Total Rewards and
Performance Management at the address below. 
 If, at your death, a completed beneficiary designation form is not on file at
the Vice President of Total Rewards and Performance Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the Accrued Dividend Equivalents in respect of your RSUs will be transferred to your estate.

 RESTRICTED PERIOD, FORFEITURE 
 The vesting of the RSUs awarded under this Award Agreement along with the Accrued Dividend Equivalents is subject to satisfaction of a performance goal as well as your acceptance of this Award Agreement
by May 31, 2012 and your continuous employment with the Corporation from the Award Date until January 30, 2015 (the “Restricted Period”). If any of these requirements are not satisfied, you may forfeit all or part of your RSUs.
Upon forfeiture, you will no longer have the right to receive Stock for forfeited RSUs or to receive cash payments for the Accrued Dividend Equivalents. 
 1. Performance Goal 
 At its first meeting after the Corporation
finalizes the financial results for the year ending December 31, 2012, the Committee will multiply the number of RSUs awarded to you under this Award Agreement by the Fair Market Value of Stock on the Award Date
($[        ]) (“RSU Award Value”). The Committee will then compare your RSU Award Value to the product of 0.10% and the Corporation’s Cash Flow for the year ending December 31, 2012 (with
the product being referred to as the “RSU Performance Goal”). If your RSU Award Value exceeds your RSU Performance Goal (with the amount of that excess referred to as the “Performance Shortfall”) then you will forfeit the number
of whole RSUs that are equal to the Performance Shortfall divided by the Fair Market Value of Stock on the Award Date ($[        ]). 
 For purposes of this Award Agreement, Cash Flow for any period means net cash flow from operations but not taking into account: (i) the aggregate difference between the amount forecasted in the
Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit pension plans during the period and the actual amounts 

 Award Date: January 30, 2012 
 Page 4 
  

 
contributed by the Corporation during the period; and (ii) any tax payments or tax benefits during the period associated with the divestiture of business units, other than tax payments or
tax benefits that were included in the Corporation’s 2012 Long Range Plan. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if
audited financial statements are not available for the period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash
provided by operating activities as reported in its audited consolidated statement of cash flows, in either case as modified by this paragraph. 
 2. Employment Requirement 
 Regardless of the satisfaction of
the RSU Performance Goal, all of your RSUs will be forfeited and all of your rights to the RSUs and to receive Stock for your RSUs and to receive cash payment for the Accrued Dividend Equivalents will cease without further obligation on the part of
the Corporation unless you personally accept this Award Agreement as provided below by May 31, 2012 and continue to provide services to the Corporation as an Employee of the Corporation until the expiration or termination of the Restricted
Period, which will occur on January 30, 2015, subject only to the specific exceptions provided below. 
 DEATH, DISABILITY, LAYOFF,
RETIREMENT 
 1. Death and Disability 
 Your RSUs and the Accrued Dividend Equivalents will immediately vest and no longer be subject to the continuing employment requirement or the potential forfeiture to the extent of a Performance Shortfall
if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

The vested RSUs will be exchanged for shares of Stock, and the Accrued Dividend Equivalents will be paid in cash as soon as practicable,
but no later than ninety (90) days after the date of your termination of employment on account of death or total disability, and in no event later than the March 15 next following the year in which such termination occurs. 

In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or by May 31, 2012,
whichever comes first), you will forfeit all of your RSUs granted hereunder and all of your rights to the RSUs and to receive Stock for your RSUs and the Accrued Dividend Equivalents will cease without further obligation on the part of the
Corporation. 

 Award Date: January 30, 2012 
 Page 5 
  

 2. Retirement, Lay Off 

If you retire or are laid off with an effective date before January 30, 2013, you will forfeit all of your RSUs and the Accrued
Dividend Equivalents in accordance with the general rule requiring continuous employment during the Restricted Period. If you retire or are laid off with an effective date on or after January 30, 2013, your RSUs and the Accrued Dividend
Equivalents will continue to be subject to forfeiture to the extent of any Performance Shortfall certified by the Committee prior to, on or after such date; however, subject to any Performance Shortfall that may occur, the Restricted Period will end
for a portion of your RSUs and the Accrued Dividend Equivalents and you will vest in a portion of your RSUs and the Accrued Dividend Equivalents as follows: 
  

	 	(i)	you will vest in one third (1/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that one-third) if your retirement or layoff is
effective on or after the first anniversary of the Award Date (January 30, 2013), but before the second anniversary of the Award Date (January 30, 2014); and 

 

	 	(ii)	you will vest in two thirds (2/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that two-thirds) if your retirement or layoff is
effective on or after the second anniversary of the Award Date (January 30, 2014) but before the third anniversary of the Award Date (January 30, 2015). 

 Notwithstanding the foregoing, your RSUs will not be considered vested until such time as the Committee makes its certification with respect to the RSU Performance Goal. The vested RSUs will be exchanged
for shares of Stock, and the related Accrued Dividend Equivalents associated with the vested portion of your RSUs will be paid in cash as soon as practicable, but no later than ninety (90) days after the later of the Committee’s
certification or your retirement or layoff, and in no event later than the March 15 next following the year in which you retire or are laid off. You will forfeit your remaining RSUs and the related Accrued Dividend Equivalents associated with
forfeited RSUs on the effective date of your retirement or layoff. 
 For purposes of this provision, the term
“retirement” means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans,
termination following attainment of (i) age 55 and five years of service, or (ii) age 65. 
 RESIGNATION OR TERMINATION WITH OR
WITHOUT CAUSE 
 If you resign or your employment otherwise terminates before January 30, 2015, other than on account of
death, disability, layoff, or retirement (or Divestiture or Change in Control as described below) whether voluntarily or by action of the Corporation and in the latter case whether with or without “cause,” you will forfeit your RSUs and
the related Accrued Dividend Equivalents on the date of your termination. 

 Award Date: January 30, 2012 
 Page 6 
  

 DIVESTITURE 
 If the Corporation divests (as defined below) all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or
its subsidiaries and the transfer of such employment to the other party to the divestiture, the special rules in this paragraph will apply. Subject to any Performance Shortfall, your RSUs and the Accrued Dividend Equivalents will vest immediately
(or following the Committee’s determination of any Performance Shortfall, if later) and you will receive shares of Stock in exchange for RSUs and the cash payment for the Accrued Dividend Equivalents as soon as practicable, but no later than
the later of ninety (90) days after your termination of employment with the Corporation or the determination by the Committee of any Performance Shortfall, and in no event later than the March 15 next following the year in which your
employment terminates. For the purposes of this provision, the term “divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership,
joint venture, limited liability company or other business entity of which less than 50% of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled directly or indirectly by the
Corporation, by one or more of the Corporation’s subsidiaries or by a combination thereof. 
 CHANGE IN CONTROL 

In the event your employment is terminated by the Corporation (or its successor) following a Change in Control, your RSUs and the Accrued
Dividend Equivalents will vest and the Restricted Period shall terminate on the date of your termination following the Change in Control. You will vest in your entire Award (including any Accrued Dividend Equivalents) under this Award Agreement and
without regard to any forfeiture that might otherwise occur because of a Performance Shortfall. 
 CHANGES IN CAPITALIZATION 

In the event of a stock split, stock dividend or other similar action resulting in additional shares of Stock being issued to existing
stockholders during the Restricted Period or in the event of a reverse stock split resulting in a contraction in the number of shares outstanding during the Restricted Period, the number of your RSUs will be adjusted in the same manner as if you
held actual shares of Stock. 
 TIMING OF TAXATION AND WITHHOLDING 

Upon the expiration or termination of the Restricted Period, the Fair Market Value of the Stock deliverable to you in respect of the RSUs
will be taxable to you as compensation income, based on the Fair Market Value of Stock on the day the Stock is deliverable to you. We will withhold federal, state, and local income taxes at the minimum rate prescribed by law.

 Award Date: January 30, 2012 
 Page 7 
  

 
Therefore, you may owe taxes relating to the RSUs in addition to the amount withheld by the Corporation. FICA tax withholding also will apply except to the extent FICA taxes have already been
collected in the case of retirement-eligible employees as described below. 
 Your tax basis in shares of Stock delivered to you
in respect of the RSUs will be equal to the Fair Market Value of such shares on the day the Stock is deliverable to you. Your holding period for purposes of determining long-term capital gain or loss treatment on any subsequent sale of such Stock
will begin on that day. 
 Any cash paid to you as Accrued Dividend Equivalents will be taxable to you as compensation income in
the year paid and subject to withholding of federal, state and local income taxes, and FICA taxes. The Corporation will withhold taxes on the Accrued Dividend Equivalents by reducing the cash payable to you, except to the extent FICA taxes have
already been collected in the case of retirement-eligible employees as described below. The Corporation may elect to apply all or part of the Accrued Dividend Equivalents to tax withholding on the Stock, in which case you may not receive any cash
for the Accrued Dividend Equivalents. 
 Unless you deliver cash to the Corporation to satisfy any withholding tax on Stock
deliverable to you in respect of vested RSUs in accordance with procedures established in advance by the Corporation’s Senior Vice President of Human Resources, you will be deemed to have automatically elected to pay any withholding tax (net of
any Accrued Dividend Equivalents applied to withholding) on Stock deliverable to you by means of the Corporation reducing the number of shares of Stock deliverable to you in respect of vested RSUs, based upon the minimum rate of withholding
prescribed by law. 
 In the event you are or become eligible for retirement during the Restricted Period, a portion of your
Award will become subject to FICA taxes prior to the termination of the Restricted Period. FICA taxes will be withheld with respect to the number of RSUs on which the Restricted Period would terminate if you were to retire. The FICA tax will also
apply to any Accrued Dividend Equivalents related to the portion of your RSUs subject to FICA. As an administrative practice in accordance with IRS regulations, the Corporation generally will delay application of these FICA taxes on
retirement-eligible participants until December of the year of withholding (or when the Stock is deliverable, if earlier). FICA taxes will be computed based upon the Fair Market Value of the Stock and the Accrued Dividend Equivalents on the date of
withholding. For example, if you are eligible to retire during the Restricted Period, then you would become subject to FICA taxes on the later of the first anniversary of the Award Date or the date that you become retirement eligible, and FICA taxes
would be withheld even though Stock and the Accrued Dividend Equivalents would not be deliverable to you until the close of the Restricted Period. The Corporation will withhold such FICA tax from your regular wages or MICP payment. The Corporation
may collect the FICA withholding from you either shortly before or after the date it is due and in the case of Insiders may require delivery of a check to satisfy any shortfall in the withholding. 

If Code Section 409A(a)(2)(B)(i) applies because you are a specified employee receiving Stock on account of a termination of
employment or if you are an Insider, your Stock and the 

 Award Date: January 30, 2012 
 Page 8 
  

 
Accrued Dividend Equivalents may not be deliverable to you for six months following such date of termination and, accordingly, the Fair Market Value of the Stock on the date on which the Stock is
deliverable to you and the Accrued Dividend Equivalents (accrued through the date the Stock becomes deliverable to you) shall be used for purposes of determining your compensation income. 
 AMENDMENT AND TERMINATION OF PLAN OR AWARDS 
 As provided in Section 9
of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement. Notwithstanding
Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award Agreement. This
Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Assuming prompt and proper acknowledgment of this Award Agreement as
described, this Award will be effective as of the Award Date. 
 By executing this Award Agreement, you consent to receive
copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address
noted above. 

 Award Date: January 30, 2012 
 Page 9 
  

 If you do not personally acknowledge your acceptance of this Award Agreement on or
before May 31, 2012, this Award will be forfeited as noted above. 
 POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 If you
are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 

Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that
any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. Neither the value of the RSUs awarded to you nor the Accrued
Dividend Equivalents will be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. Notwithstanding any other provision of this Award Agreement to the contrary, no Stock will be issued to you
within six months from the Award Date. 
 Transactions involving Stock delivered under this Award Agreement are subject to the
securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The
Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or RSUs. 

 Award Date: January 30, 2012 
 Page 10 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	Sincerely,
	
	David Filomeo
	 (On behalf of the Management

Development and Compensation

Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

 Award Date: January 30, 2012 
 Page 11 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (RSU Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of restricted stock units to me under the Award Agreement (the “RSUs”) pursuant to the Lockheed Martin Corporation
2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the RSUs, I agree as follows: 

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

 

	 	(i)	Represent any client adversely to the Corporation; 

  

	 	(ii)	Reveal to any third party any information learned by me during the course of my employment with the Corporation except for information that is or becomes generally
known; 

  

	 	(iii)	Encourage or solicit any present or future agents or employees of the Corporation to terminate their employment for the purpose of competing with the Corporation; or

  

	 	(iv)	Whether as a lawyer or non-lawyer, accept a position (whether as agent, employer, part or sole owner or in any other capacity) with any person or entity whose interests
are adverse to the Corporation’s interests if that adverse position is related in any way to my present or past work with the Corporation. 

 (b) No disparagement – Following the Termination Date, I will not make any statements, whether verbal or written, that disparage or reasonably may be interpreted to disparage the Corporation
or its stockholders, directors, officers, employees, agents, attorneys, representatives, technology, products or services with respect to any matter whatsoever. 
 (c) Cooperation in Litigation and Investigations - Following the Termination Date, I will, to the extent reasonably requested, cooperate with the Corporation in any pending or

 Award Date: January 30, 2012 
 Page 12 
  

 
future litigation (including alternative dispute resolution proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates is a party or is required or requested
to provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision of this
PECA, nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 
 2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made available to me under the Award Agreement are in addition to the benefits
and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the RSUs is expressly made contingent upon my agreements with the Corporation set forth in this
PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the benefits and compensation opportunities being made available to me under the
Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to and extensive knowledge of the Corporation’s confidential or proprietary
information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests. 
 3. Remedies for Breach of Section 1; Additional Remedies of Clawback and Recoupment. 
 1. If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, to the extent permitted by applicable law, including but not limited to
any applicable rules governing attorney conduct, that upon demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

	 	(i)	I breach any of the covenants or agreements in Section 1 (and in the case of 1(a), the breach occurs prior to the second anniversary of my Termination Date);

  

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

  

	 	(iii)	 The Corporation determines that I engaged in fraud, bribery or any other illegal act or that my intentional misconduct or gross negligence (including
the failure to report the acts of another person of which I 

 Award Date: January 30, 2012 
 Page 13 
  

	 	
had knowledge during the period I was employed by the Corporation) contributed to another person’s fraud, bribery or other illegal act, which in any such case adversely affected the
Corporation’s financial position or reputation; or 

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 2. The remedy provided in Section 3(a) shall not be
the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

3. For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the RSUs and
continue to own the shares of Common Stock of the Corporation issued or issuable in respect of the RSUs, the shares of Common Stock so acquired; (ii) to the extent I have earned any of the RSUs and no longer own the shares of Common Stock of
the Corporation issued or issuable in respect of the RSUs, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless otherwise determined by the Management Development and
Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally reported by the New York Stock Exchange on such date), and (iii) to the extent I have not earned
the RSUs fully, all of my remaining rights, title or interest in the RSUs. 
 4. Injunctive Relief. I acknowledge that
the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to any
other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to
specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security. 
 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular
provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of this provision in
the particular jurisdiction in which such adjudication is made. 
 6. Definitions. Capitalized terms not defined in this
PECA have the meaning given to them in the Plan, as applicable. 

 Award Date: January 30, 2012 
 Page 14 
  

 7. Miscellaneous. 

(a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the RSUs to me.

 (b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any
enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of
Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 

(d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise,
affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from
time to time or applicable law or regulation. 
 This PECA is effective as of the acceptance by me of the
award of RSUs under the Award Agreement and is not contingent on the vesting of my RSUs. 

 Award Date: January 30, 2012 
 Page 15 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 RSU PECA Attorney (nonperformance) 
 Award Date: January 30, 2012 
 THIS DOCUMENT CONSTITUTES PART OF A
PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 

THE SECURITIES ACT OF 1933 

Dear Awardee: 
 The Management
Development and Compensation Committee of the Board of Directors (“Committee”) has awarded you Restricted Stock Units (“RSUs”). Each RSU entitles you, upon satisfaction of the continuous employment and other requirements set
forth in this letter and the Plan, to receive from Lockheed Martin Corporation (“Corporation”): (i) one (1) share of the Corporation’s common stock, par value $1.00 per share, (“Stock”); and (ii) a cash
payment equal to the sum of any cash dividends paid to stockholders of the Corporation during the Restricted Period (as defined below), each in accordance with the terms of this letter, the Lockheed Martin Corporation 2011 Incentive Performance
Award Plan (“Plan”), and any rules and procedures adopted by the Committee. 
 This letter constitutes the Award
Agreement for your RSUs and sets forth some of the terms and conditions of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the
Plan and this Award Agreement are a part. In the event of a conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 

The term Restricted Stock Unit or RSU as used in this Award Agreement refers only to the Restricted Stock Units awarded to you under this
Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 
 Your
Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance
Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement as described, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 
 If you do not
properly acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be forfeited. 

 Award Date: January 30, 2012 
 Page 2 
  

 CONSIDERATION FOR AWARD 
 The consideration for the Restricted Stock Units is your continued service to the Corporation as an Employee during the Restricted Period set forth below. If you do not continue to perform services for
the Corporation as an Employee during the entire Restricted Period as set forth below under “RESTRICTED PERIOD, FORFEITURE,” your Award will be forfeited in whole or in part. 
 RIGHTS OF OWNERSHIP, RESTRICTIONS ON TRANSFER 
 During the Restricted
Period, your RSUs will be subject to forfeiture. Until the Restricted Period ends with respect to a particular RSU and a share of Stock is delivered to you, you generally will not have the rights and privileges of a stockholder. In particular, you
will not have the right to vote your RSUs on any matter put to the stockholders of the Corporation; you may not sell, transfer, assign, pledge, use as collateral or otherwise dispose of or encumber RSUs; and you will not have the right to receive
any dividends or dividend equivalents on the RSUs or the right to receive any dividend paid to stockholders on a share of Stock. 
 Upon expiration or termination of the Restricted Period with respect to your RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be
exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Stock issued in your name (or other name(s) designated by you) and a cash payment equal to the dividends that would have been paid to you had you owned
such share from the Award Date until the expiration or termination of the Restricted Period (“Accrued Dividend Equivalents”). Your shares and the cash payment for the Accrued Dividend Equivalents will be delivered to you as soon as
practicable, but not later than ninety (90) days after the expiration or termination of the Restricted Period. 
 The
certificates delivered to you may contain any legend the Corporation determines is appropriate under the securities laws. At the time the Restricted Period for your RSUs terminates, the Corporation is required to collect from you the appropriate
amount of federal, state and local taxes with respect to both the shares delivered and the cash payment for the Accrued Dividend Equivalents. The Corporation may be required to collect FICA taxes from you prior to the termination of the Restricted
Period if you become eligible for retirement prior to the termination of that period. In this regard, please see “TIMING OF TAXATION AND WITHHOLDING” below. 
 In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on account of a termination of employment, delivery of Stock and the Accrued Dividend
Equivalents may be delayed for six months from such date; similarly, if you are an Insider subject to the reporting provisions of Section 16(a) of the Securities Exchange Act of 1934, delivery of Stock following the expiration of the Restricted
Period for any reason may be delayed for six months. You will be notified if you are a specified employee for purposes of section 409A. 

 Award Date: January 30, 2012 
 Page 3 
  

 After the Stock is delivered to you, you (or your designee(s)) will enjoy all of the
rights and privileges associated with ownership of the shares, including the right to vote on any matter put to stockholder vote, to receive dividends, and to encumber, sell or otherwise transfer the shares. You should note, however, that, while the
shares would thus be free of the restrictions imposed during the Restricted Period, your ability to sell or pledge the shares may be limited under the federal securities laws or corporate policy. 

You have the right to designate a beneficiary (or beneficiaries) to receive your shares in exchange for your RSUs and cash in respect of
the Accrued Dividend Equivalents in the event of your death during the Restricted Period by completing a beneficiary designation form available at http://www.benefitaccess.com and returning it to the Vice President of Total Rewards and
Performance Management at the address below. 
 If, at your death, a completed beneficiary designation form is not on file at
the Vice President of Total Rewards and Performance Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the Accrued Dividend Equivalents in respect of your RSUs will be transferred to your estate.

 RESTRICTED PERIOD, FORFEITURE 
 The vesting of the RSUs awarded under this Award Agreement along with the Accrued Dividend Equivalents is subject to your acceptance of this Award Agreement by May 31, 2012 and your continuous
employment with the Corporation from the Award Date until January 30, 2015 (the “Restricted Period”). All of your RSUs will be forfeited and all of your rights to the RSUs and to receive Stock for your RSUs and to receive cash payment
for the Accrued Dividend Equivalents will cease without further obligation on the part of the Corporation unless you personally accept this Award Agreement as provided below by May 31, 2012 and continue to provide services to the Corporation as
an Employee of the Corporation until the expiration or termination of the Restricted Period, which will occur on January 30, 2015, subject only to the specific exceptions provided below. 
 DEATH, DISABILITY, LAYOFF, RETIREMENT 
 1. Death and Disability

 Your RSUs and the Accrued Dividend Equivalents will immediately vest and no longer be subject to the continuing employment
requirement if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

 Award Date: January 30, 2012 
 Page 4 
  

 The vested RSUs will be exchanged for shares of Stock, and the Accrued Dividend
Equivalents will be paid in cash as soon as practicable, but no later than ninety (90) days after the date of your termination of employment on account of death or total disability, and in no event later than the March 15 next following
the year in which such termination occurs. 
 In the event that you die and have not properly acknowledged acceptance of the
Award prior to your death (or by May 31, 2012, whichever comes first), you will forfeit all of your RSUs granted hereunder and all of your rights to the RSUs and to receive Stock for your RSUs and the Accrued Dividend Equivalents will cease
without further obligation on the part of the Corporation. 
 2. Retirement, Lay Off 

If you retire or are laid off with an effective date before January 30, 2013, you will forfeit all of your RSUs and the Accrued
Dividend Equivalents in accordance with the general rule requiring continuous employment during the Restricted Period. If you retire or are laid off with an effective date on or after January 30, 2013, the Restricted Period will end for a
portion of your RSUs and the Accrued Dividend Equivalents and you will vest in a portion of your RSUs and the Accrued Dividend Equivalents as follows: 
  

	 	(i)	you will vest in one third (1/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that one-third) if your retirement or layoff is
effective on or after the first anniversary of the Award Date (January 30, 2013), but before the second anniversary of the Award Date (January 30, 2014); and 

 

	 	(ii)	you will vest in two thirds (2/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that two-thirds) if your retirement or layoff is
effective on or after the second anniversary of the Award Date (January 30, 2014) but before the third anniversary of the Award Date (January 30, 2015). 

 The vested RSUs will be exchanged for shares of Stock, and the related Accrued Dividend Equivalents associated with the vested portion of your RSUs will be paid in cash as soon as practicable, but no
later than ninety (90) days after your retirement or layoff, and in no event later than the March 15 next following the year in which you retire or are laid off. You will forfeit your remaining RSUs and the related Accrued Dividend
Equivalents associated with forfeited RSUs on the effective date of your retirement or layoff. 
 For purposes of this
provision, the term “retirement” means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined
benefit pension plans, termination following attainment of (i) age 55 and five years of service, or (ii) age 65. 

 Award Date: January 30, 2012 
 Page 5 
  

 RESIGNATION OR TERMINATION WITH OR WITHOUT CAUSE 

If you resign or your employment otherwise terminates before January 30, 2015, other than on account of death, disability, layoff, or
retirement (or Divestiture or Change in Control as described below) whether voluntarily or by action of the Corporation and in the latter case whether with or without “cause,” you will forfeit your RSUs and the related Accrued Dividend
Equivalents on the date of your termination. 
 DIVESTITURE 
 If the Corporation divests (as defined below) all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or
its subsidiaries and the transfer of such employment to the other party to the divestiture, the special rules in this paragraph will apply. Your RSUs and the Accrued Dividend Equivalents will vest immediately and you will receive shares of Stock in
exchange for RSUs and the cash payment for the Accrued Dividend Equivalents as soon as practicable, but no later than ninety (90) days after your termination of employment with the Corporation, and in no event later than the March 15 next
following the year in which your employment terminates. For the purposes of this provision, the term “divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person,
corporation, association, partnership, joint venture, limited liability company or other business entity of which less than 50% of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled
directly or indirectly by the Corporation, by one or more of the Corporation’s subsidiaries or by a combination thereof. 
 CHANGE IN
CONTROL 
 In the event your employment is terminated by the Corporation (or its successor) following a Change in Control,
your RSUs and the Accrued Dividend Equivalents will vest and the Restricted Period shall terminate on the date of your termination following the Change in Control. 
 CHANGES IN CAPITALIZATION 
 In the event of a stock split, stock dividend or
other similar action resulting in additional shares of Stock being issued to existing stockholders during the Restricted Period or in the event of a reverse stock split resulting in a contraction in the number of shares outstanding during the
Restricted Period, the number of your RSUs will be adjusted in the same manner as if you held actual shares of Stock. 
 TIMING OF TAXATION
AND WITHHOLDING 
 Upon the expiration or termination of the Restricted Period, the Fair Market Value of the Stock
deliverable to you in respect of the RSUs will be taxable to you as compensation income, 

 Award Date: January 30, 2012 
 Page 6 
  

 
based on the Fair Market Value of Stock on the day the Stock is deliverable to you. We will withhold federal, state, and local income taxes at the minimum rate prescribed by law. Therefore, you
may owe taxes relating to the RSUs in addition to the amount withheld by the Corporation. FICA tax withholding also will apply except to the extent FICA taxes have already been collected in the case of retirement-eligible employees as described
below. 
 Your tax basis in shares of Stock delivered to you in respect of the RSUs will be equal to the Fair Market Value of
such shares on the day the Stock is deliverable to you. Your holding period for purposes of determining long-term capital gain or loss treatment on any subsequent sale of such Stock will begin on that day. 

Any cash paid to you as Accrued Dividend Equivalents will be taxable to you as compensation income in the year paid and subject to
withholding of federal, state and local income taxes, and FICA taxes. The Corporation will withhold taxes on the Accrued Dividend Equivalents by reducing the cash payable to you, except to the extent FICA taxes have already been collected in the
case of retirement-eligible employees as described below. The Corporation may elect to apply all or part of the Accrued Dividend Equivalents to tax withholding on the Stock, in which case you may not receive any cash for the Accrued Dividend
Equivalents. 
 Unless you deliver cash to the Corporation to satisfy any withholding tax on Stock deliverable to you in respect
of vested RSUs in accordance with procedures established in advance by the Corporation’s Senior Vice President of Human Resources, you will be deemed to have automatically elected to pay any withholding tax (net of any Accrued Dividend
Equivalents applied to withholding) on Stock deliverable to you by means of the Corporation reducing the number of shares of Stock deliverable to you in respect of vested RSUs, based upon the minimum rate of withholding prescribed by law.

 In the event you are or become eligible for retirement during the Restricted Period, a portion of your Award will
become subject to FICA taxes prior to the termination of the Restricted Period. FICA taxes will be withheld with respect to the number of RSUs on which the Restricted Period would terminate if you were to retire. The FICA tax will also apply to any
Accrued Dividend Equivalents related to the portion of your RSUs subject to FICA. As an administrative practice in accordance with IRS regulations, the Corporation generally will delay application of these FICA taxes on retirement-eligible
participants until December of the year of withholding (or when the Stock is deliverable, if earlier). FICA taxes will be computed based upon the Fair Market Value of the Stock and the Accrued Dividend Equivalents on the date of withholding. For
example, if you are eligible to retire during the Restricted Period, then you would become subject to FICA taxes on the later of the first anniversary of the Award Date or the date that you become retirement eligible, and FICA taxes would be
withheld even though Stock and the Accrued Dividend Equivalents would not be deliverable to you until the close of the Restricted Period. The Corporation will withhold such FICA tax from your regular wages or MICP payment. The Corporation may
collect the FICA withholding from you either shortly before or after the date it is due and in the case of Insiders may require delivery of a check to satisfy any shortfall in the withholding. 

 Award Date: January 30, 2012 
 Page 7 
  

 If Code Section 409A(a)(2)(B)(i) applies because you are a specified employee
receiving Stock on account of a termination of employment or if you are an Insider, your Stock and the Accrued Dividend Equivalents may not be deliverable to you for six months following such date of termination and, accordingly, the Fair Market
Value of the Stock on the date on which the Stock is deliverable to you and the Accrued Dividend Equivalents (accrued through the date the Stock becomes deliverable to you) shall be used for purposes of determining your compensation income.

 AMENDMENT AND TERMINATION OF PLAN OR AWARDS 
 As provided in Section 9 of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee
may at any time alter or amend this Award Agreement. Notwithstanding Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written
consent, adversely affect your rights under this Award Agreement. This Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 

ACCEPTANCE OF AWARD 
 No
Award is enforceable until you properly acknowledge your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but
in no event later than May 31, 2012. Acceptance of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your
disability or deployment in the Armed Forces (and not by your estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized
electronic means for the delivery and acceptance of this Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this
letter on or before May 31, 2012 as follows: 
  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Assuming prompt and proper acknowledgment of this Award Agreement as
described, this Award will be effective as of the Award Date. 
 By executing this Award Agreement, you consent to receive
copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address
noted above. 

 Award Date: January 30, 2012 
 Page 8 
  

 If you do not personally acknowledge your acceptance of this Award Agreement on or
before May 31, 2012, this Award will be forfeited as noted above. 
 POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 If you
are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 

Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that
any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. Neither the value of the RSUs awarded to you nor the Accrued
Dividend Equivalents will be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. Notwithstanding any other provision of this Award Agreement to the contrary, no Stock will be issued to you
within six months from the Award Date. 
 Transactions involving Stock delivered under this Award Agreement are subject to the
securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The
Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or RSUs. 

 Award Date: January 30, 2012 
 Page 9 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	Sincerely,
	
	David Filomeo
	(On behalf of the Management Development and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

 Award Date: January 30, 2012 
 Page 10 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (RSU Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of restricted stock units to me under the Award Agreement (the “RSUs”) pursuant to the Lockheed Martin Corporation
2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the RSUs, I agree as follows: 

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

 

	 	(i)	Represent any client adversely to the Corporation; 

  

	 	(ii)	Reveal to any third party any information learned by me during the course of my employment with the Corporation except for information that is or becomes generally
known; 

  

	 	(iii)	Encourage or solicit any present or future agents or employees of the Corporation to terminate their employment for the purpose of competing with the Corporation; or

  

	 	(iv)	Whether as a lawyer or non-lawyer, accept a position (whether as agent, employer, part or sole owner or in any other capacity) with any person or entity whose interests
are adverse to the Corporation’s interests if that adverse position is related in any way to my present or past work with the Corporation. 

 (b) No disparagement – Following the Termination Date, I will not make any statements, whether verbal or written, that disparage or reasonably may be interpreted to disparage the Corporation
or its stockholders, directors, officers, employees, agents, attorneys, representatives, technology, products or services with respect to any matter whatsoever. 
 (c) Cooperation in Litigation and Investigations - Following the Termination Date, I will, to the extent reasonably requested, cooperate with the Corporation in any pending or

 Award Date: January 30, 2012 
 Page 11 
  

 
future litigation (including alternative dispute resolution proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates is a party or is required or requested
to provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision of this
PECA, nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 
 2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made available to me under the Award Agreement are in addition to the benefits
and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the RSUs is expressly made contingent upon my agreements with the Corporation set forth in this
PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the benefits and compensation opportunities being made available to me under the
Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to and extensive knowledge of the Corporation’s confidential or proprietary
information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests. 
 3. Remedies for Breach of Section 1; Additional Remedies of Clawback and Recoupment. 
 (a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, to the extent permitted by applicable law, including but not limited to
any applicable rules governing attorney conduct, that upon demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

	 	(i)	I breach any of the covenants or agreements in Section 1 (and in the case of 1(a), the breach occurs prior to the second anniversary of my Termination Date);

  

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

  

	 	(iii)	 The Corporation determines that I engaged in fraud, bribery or any other illegal act or that my intentional misconduct or gross negligence (including
the failure to report the acts of another person of which I 

 Award Date: January 30, 2012 
 Page 12 
  

	 	
had knowledge during the period I was employed by the Corporation) contributed to another person’s fraud, bribery or other illegal act, which in any such case adversely affected the
Corporation’s financial position or reputation; or 

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the RSUs
and continue to own the shares of Common Stock of the Corporation issued or issuable in respect of the RSUs, the shares of Common Stock so acquired; (ii) to the extent I have earned any of the RSUs and no longer own the shares of Common Stock
of the Corporation issued or issuable in respect of the RSUs, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless otherwise determined by the Management Development
and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally reported by the New York Stock Exchange on such date), and (iii) to the extent I have not
earned the RSUs fully, all of my remaining rights, title or interest in the RSUs. 
 4. Injunctive Relief. I acknowledge
that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to
any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to
specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security. 
 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular
provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of this provision in
the particular jurisdiction in which such adjudication is made. 
 6. Definitions. Capitalized terms not defined in this
PECA have the meaning given to them in the Plan, as applicable. 

 Award Date: January 30, 2012 
 Page 13 
  

 7. Miscellaneous. 

(a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the RSUs to me.

 (b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any
enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of
Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 

(d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise,
affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from
time to time or applicable law or regulation. 
 This PECA is effective as of the acceptance by me of the
award of RSUs under the Award Agreement and is not contingent on the vesting of my RSUs. 

 Award Date: January 30, 2012 
 Page 14 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 RSU PECA RJS MD&CC (performance) 
 Award Date: January 30, 2012 
 THIS DOCUMENT CONSTITUTES PART OF A
PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 

THE SECURITIES ACT OF 1933 

Dear Mr. Stevens: 
 The
Management Development and Compensation Committee of the Board of Directors (“Committee”) has awarded you Restricted Stock Units (“RSUs”). Each RSU entitles you, upon satisfaction of the continuous employment and other
requirements set forth in this letter and the Plan, to receive from Lockheed Martin Corporation (“Corporation”): (i) one (1) share of the Corporation’s common stock, par value $1.00 per share, (“Stock”); and
(ii) a cash payment equal to the sum of any cash dividends paid to stockholders of the Corporation during the Restricted Period (as defined below), each in accordance with the terms of this letter, the Lockheed Martin Corporation 2011 Incentive
Performance Award Plan (“Plan”), and any rules and procedures adopted by the Committee. 
 This letter constitutes the
Award Agreement for your RSUs and sets forth some of the terms and conditions of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which
the Plan and this Award Agreement are a part. In the event of a conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 

The term Restricted Stock Unit or RSU as used in this Award Agreement refers only to the Restricted Stock Units awarded to you under this
Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 
 Your
Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance
Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement as described, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 
 If you do not
properly acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be forfeited. 

 Award Date: January 30, 2012 
 Page 2 
  

 CONSIDERATION FOR AWARD 
 The consideration for the Restricted Stock Units is your continued service to the Corporation as an Employee during the Restricted Period set forth below. If you do not continue to perform services for
the Corporation as an Employee during the entire Restricted Period as set forth below under “RESTRICTED PERIOD, FORFEITURE,” your Award will be forfeited in whole or in part. 
 RIGHTS OF OWNERSHIP, RESTRICTIONS ON TRANSFER 
 During the Restricted
Period, your RSUs will be subject to forfeiture. Until the Restricted Period ends with respect to a particular RSU and a share of Stock is delivered to you, you generally will not have the rights and privileges of a stockholder. In particular, you
will not have the right to vote your RSUs on any matter put to the stockholders of the Corporation; you may not sell, transfer, assign, pledge, use as collateral or otherwise dispose of or encumber RSUs; and you will not have the right to receive
any dividends or dividend equivalents on the RSUs or the right to receive any dividend paid to stockholders on a share of Stock. 
 Upon expiration or termination of the Restricted Period with respect to your RSUs, and subject to the forfeiture provisions set forth below, each RSU for which the restrictions have lapsed will be
exchanged for a certificate (either in paper or book entry form) evidencing one (1) share of Stock issued in your name (or other name(s) designated by you) and a cash payment equal to the dividends that would have been paid to you had you owned
such share from the Award Date until the expiration or termination of the Restricted Period (“Accrued Dividend Equivalents”). Your shares and the cash payment for the Accrued Dividend Equivalents will be delivered to you as soon as
practicable, but no later than ninety (90) days after the expiration or termination of the Restricted Period. 
 The
certificates delivered to you may contain any legend the Corporation determines is appropriate under the securities laws. At the time the Restricted Period for your RSUs terminates, the Corporation is required to collect from you the appropriate
amount of federal, state and local taxes with respect to both the shares delivered and the cash payment for the Accrued Dividend Equivalents. The Corporation may be required to collect FICA taxes from you prior to the termination of the Restricted
Period if you become eligible for retirement prior to the termination of that period. In this regard, please see “TIMING OF TAXATION AND WITHHOLDING” below. 
 In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on account of a termination of employment, delivery of Stock and the Accrued Dividend
Equivalents may be delayed for six months from such date; similarly, if you are an Insider subject to the reporting provisions of Section 16(a) of the Securities Exchange Act of 1934, delivery of Stock following the expiration of the Restricted
Period for any reason may be delayed for six months. You will be notified if you are a specified employee for purposes of section 409A. 

 Award Date: January 30, 2012 
 Page 3 
  

 After the Stock is delivered to you, you (or your designee(s)) will enjoy all of the
rights and privileges associated with ownership of the shares, including the right to vote on any matter put to stockholder vote, to receive dividends, and to encumber, sell or otherwise transfer the shares. You should note, however, that, while the
shares would thus be free of the restrictions imposed during the Restricted Period, your ability to sell or pledge the shares may be limited under the federal securities laws or corporate policy. 

You have the right to designate a beneficiary (or beneficiaries) to receive your shares in exchange for your RSUs and cash in respect of
the Accrued Dividend Equivalents in the event of your death during the Restricted Period by completing a beneficiary designation form available at http://www.benefitaccess.com and returning it to the Vice President of Total Rewards and
Performance Management at the address below. 
 If, at your death, a completed beneficiary designation form is not on file at
the Vice President of Total Rewards and Performance Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the Accrued Dividend Equivalents in respect of your RSUs will be transferred to your estate.

 RESTRICTED PERIOD, FORFEITURE 
 The vesting of the RSUs awarded under this Award Agreement along with the Accrued Dividend Equivalents is subject to satisfaction of a performance goal as well as your acceptance of this Award Agreement
by May 31, 2012 and your continuous employment with the Corporation from the Award Date until January 30, 2015 (the “Restricted Period”). If any of these requirements are not satisfied, you may forfeit all or part of your RSUs.
Upon forfeiture, you will no longer have the right to receive Stock for forfeited RSUs or to receive cash payments for the Accrued Dividend Equivalents. 
 1. Performance Goal 
 At its first meeting after the Corporation
finalizes the financial results for the year ending December 31, 2012, the Committee will multiply the number of RSUs awarded to you under this Award Agreement by the Fair Market Value of Stock on the Award Date
($[        ]) (“RSU Award Value”). The Committee will then compare your RSU Award Value to the product of 0.20% and the Corporation’s Cash Flow for the year ending December 31, 2012 (with
the product being referred to as the “RSU Performance Goal”). If your RSU Award Value exceeds your RSU Performance Goal (with the amount of that excess referred to as the “Performance Shortfall”) then you will forfeit the number
of whole RSUs that are equal to the Performance Shortfall divided by the Fair Market Value of Stock on the Award Date ($[        ]). 
 For purposes of this Award Agreement, Cash Flow for any period means net cash flow from operations but not taking into account: (i) the aggregate difference between the amount forecasted in the
Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit pension plans during the period and the actual amounts 

 Award Date: January 30, 2012 
 Page 4 
  

 
contributed by the Corporation during the period; and (ii) any tax payments or tax benefits during the period associated with the divestiture of business units, other than tax payments or
tax benefits that were included in the Corporation’s 2012 Long Range Plan. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if
audited financial statements are not available for the period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash
provided by operating activities as reported in its audited consolidated statement of cash flows, in either case as modified by this paragraph. 
 2. Employment Requirement 
 Regardless of the satisfaction of
the RSU Performance Goal, all of your RSUs will be forfeited and all of your rights to the RSUs and to receive Stock for your RSUs and to receive cash payment for the Accrued Dividend Equivalents will cease without further obligation on the part of
the Corporation unless you personally accept this Award Agreement as provided below by May 31, 2012 and continue to provide services to the Corporation as an Employee of the Corporation until the expiration or termination of the Restricted
Period, which will occur on January 30, 2015, subject only to the specific exceptions provided below. 
 DEATH, DISABILITY, LAYOFF,
RETIREMENT 
 1. Death and Disability 
 Your RSUs and the Accrued Dividend Equivalents will immediately vest and no longer be subject to the continuing employment requirement or the potential forfeiture to the extent of a Performance Shortfall
if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

The vested RSUs will be exchanged for shares of Stock, and the Accrued Dividend Equivalents will be paid in cash as soon as practicable,
but no later than ninety (90) days after the date of your termination of employment on account of death or total disability, and in no event later than the March 15 next following the year in which such termination occurs. 

In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or by May 31, 2012,
whichever comes first), you will forfeit all of your RSUs granted hereunder and all of your rights to the RSUs and to receive Stock for your RSUs and the Accrued Dividend Equivalents will cease without further obligation on the part of the
Corporation. 

 Award Date: January 30, 2012 
 Page 5 
  

 2. Retirement, Lay Off 

If you retire or are laid off with an effective date before January 30, 2013, you will forfeit all of your RSUs and the Accrued
Dividend Equivalents in accordance with the general rule requiring continuous employment during the Restricted Period. If you retire or are laid off with an effective date on or after January 30, 2013, your RSUs and the Accrued Dividend
Equivalents will continue to be subject to forfeiture to the extent of any Performance Shortfall certified by the Committee prior to, on or after such date; however, subject to any Performance Shortfall that may occur, the Restricted Period will end
for a portion of your RSUs and the Accrued Dividend Equivalents and you will vest in a portion of your RSUs and the Accrued Dividend Equivalents as follows: 
  

	 	(i)	you will vest in one third (1/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that one-third) if your retirement or layoff is
effective on or after the first anniversary of the Award Date (January 30, 2013), but before the second anniversary of the Award Date (January 30, 2014); and 

 

	 	(ii)	you will vest in two thirds (2/3) of your RSUs (and the related Accrued Dividend Equivalents associated with that two-thirds) if your retirement or layoff is
effective on or after the second anniversary of the Award Date (January 30, 2014) but before the third anniversary of the Award Date (January 30, 2015). 

 Notwithstanding the foregoing, your RSUs will not be considered vested until such time as the Committee makes its certification with respect to the RSU Performance Goal. The vested RSUs will be exchanged
for shares of Stock, and the related Accrued Dividend Equivalents associated with the vested portion of your RSUs will be paid in cash as soon as practicable, but no later than ninety (90) days after the later of the Committee’s
certification or your retirement or layoff, and in no event later than the March 15 next following the year in which you retire or are laid off. You will forfeit your remaining RSUs and the related Accrued Dividend Equivalents associated with
forfeited RSUs on the effective date of your retirement or layoff. 
 For purposes of this provision, the term
“retirement” means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans,
termination following attainment of (i) age 55 and five years of service, or (ii) age 65. 
 RESIGNATION OR TERMINATION WITH
OR WITHOUT CAUSE 
 If you resign or your employment otherwise terminates before January 30, 2015, other than on account
of death, disability, layoff, or retirement (or Divestiture or Change in Control as described below) whether voluntarily or by action of the Corporation and in the latter case whether with or without “cause,” you will forfeit your RSUs and
the related Accrued Dividend Equivalents on the date of your termination. 

 Award Date: January 30, 2012 
 Page 6 
  

 DIVESTITURE 
 If the Corporation divests (as defined below) all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or
its subsidiaries and the transfer of such employment to the other party to the divestiture, the special rules in this paragraph will apply. Subject to any Performance Shortfall, your RSUs and the Accrued Dividend Equivalents will vest immediately
(or following the Committee’s determination of any Performance Shortfall, if later) and you will receive shares of Stock in exchange for RSUs and the cash payment for the Accrued Dividend Equivalents as soon as practicable, but no later than
the later of ninety (90) days after your termination of employment with the Corporation or the determination by the Committee of any Performance Shortfall, and in no event later than the March 15 next following the year in which your
employment terminates. For the purposes of this provision, the term “divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership,
joint venture, limited liability company or other business entity of which less than 50% of the voting stock or other equity interests (in the case of entities other than corporations), is owned or controlled directly or indirectly by the
Corporation, by one or more of the Corporation’s subsidiaries or by a combination thereof. 
 CHANGE IN CONTROL 

In the event your employment is terminated by the Corporation (or its successor) following a Change in Control, your RSUs and the Accrued
Dividend Equivalents will vest and the Restricted Period shall terminate on the date of your termination following the Change in Control. You will vest in your entire Award (including any Accrued Dividend Equivalents) under this Award Agreement and
without regard to any forfeiture that might otherwise occur because of a Performance Shortfall. 
 CHANGES IN CAPITALIZATION 

In the event of a stock split, stock dividend or other similar action resulting in additional shares of Stock being issued to existing
stockholders during the Restricted Period or in the event of a reverse stock split resulting in a contraction in the number of shares outstanding during the Restricted Period, the number of your RSUs will be adjusted in the same manner as if you
held actual shares of Stock. 
 TIMING OF TAXATION AND WITHHOLDING 

Upon the expiration or termination of the Restricted Period, the Fair Market Value of the Stock deliverable to you in respect of the RSUs
will be taxable to you as compensation income, based on the Fair Market Value of Stock on the day the Stock is deliverable to you. We will withhold federal, state, and local income taxes at the minimum rate prescribed by law.

 Award Date: January 30, 2012 
 Page 7 
  

 
Therefore, you may owe taxes relating to the RSUs in addition to the amount withheld by the Corporation. FICA tax withholding also will apply except to the extent FICA taxes have already been
collected in the case of retirement-eligible employees as described below. 
 Your tax basis in shares of Stock delivered to you
in respect of the RSUs will be equal to the Fair Market Value of such shares on the day the Stock is deliverable to you. Your holding period for purposes of determining long-term capital gain or loss treatment on any subsequent sale of such Stock
will begin on that day. 
 Any cash paid to you as Accrued Dividend Equivalents will be taxable to you as compensation income in
the year paid and subject to withholding of federal, state and local income taxes, and FICA taxes. The Corporation will withhold taxes on the Accrued Dividend Equivalents by reducing the cash payable to you, except to the extent FICA taxes have
already been collected in the case of retirement-eligible employees as described below. The Corporation may elect to apply all or part of the Accrued Dividend Equivalents to tax withholding on the Stock, in which case you may not receive any cash
for the Accrued Dividend Equivalents. 
 Unless you deliver cash to the Corporation to satisfy any withholding tax on Stock
deliverable to you in respect of vested RSUs in accordance with procedures established in advance by the Corporation’s Senior Vice President of Human Resources, you will be deemed to have automatically elected to pay any withholding tax (net of
any Accrued Dividend Equivalents applied to withholding) on Stock deliverable to you by means of the Corporation reducing the number of shares of Stock deliverable to you in respect of vested RSUs, based upon the minimum rate of withholding
prescribed by law. 
 In the event you are or become eligible for retirement during the Restricted Period, a portion of
your Award will become subject to FICA taxes prior to the termination of the Restricted Period. FICA taxes will be withheld with respect to the number of RSUs on which the Restricted Period would terminate if you were to retire. The FICA tax will
also apply to any Accrued Dividend Equivalents related to the portion of your RSUs subject to FICA. As an administrative practice in accordance with IRS regulations, the Corporation generally will delay application of these FICA taxes on
retirement-eligible participants until December of the year of withholding (or when the Stock is deliverable, if earlier). FICA taxes will be computed based upon the Fair Market Value of the Stock and the Accrued Dividend Equivalents on the date of
withholding. For example, if you are eligible to retire during the Restricted Period, then you would become subject to FICA taxes on the later of the first anniversary of the Award Date or the date that you become retirement eligible, and FICA taxes
would be withheld even though Stock and the Accrued Dividend Equivalents would not be deliverable to you until the close of the Restricted Period. The Corporation will withhold such FICA tax from your regular wages or MICP payment. The Corporation
may collect the FICA withholding from you either shortly before or after the date it is due and in the case of Insiders may require delivery of a check to satisfy any shortfall in the withholding. 

If Code Section 409A(a)(2)(B)(i) applies because you are a specified employee receiving Stock on account of a termination of
employment or if you are an Insider, your Stock and the 

 Award Date: January 30, 2012 
 Page 8 
  

 
Accrued Dividend Equivalents may not be deliverable to you for six months following such date of termination and, accordingly, the Fair Market Value of the Stock on the date on which the Stock is
deliverable to you and the Accrued Dividend Equivalents (accrued through the date the Stock becomes deliverable to you) shall be used for purposes of determining your compensation income. 
 AMENDMENT AND TERMINATION OF PLAN OR AWARDS 
 As provided in Section 9
of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement. Notwithstanding
Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award Agreement. This
Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Assuming prompt and proper acknowledgment of this Award Agreement as
described, this Award will be effective as of the Award Date. 
 By executing this Award Agreement, you consent to receive
copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address
noted above. 

 Award Date: January 30, 2012 
 Page 9 
  

 If you do not personally acknowledge your acceptance of this Award Agreement on or
before May 31, 2012, this Award will be forfeited as noted above. 
 POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. 
 MISCELLANEOUS

 If you are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the
Corporation unless otherwise provided in an agreement between you and the Corporation. 
 Nothing contained in this Award
Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation
to terminate your employment at any time. Neither the value of the RSUs awarded to you nor the Accrued Dividend Equivalents will be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits.
Notwithstanding any other provision of this Award Agreement to the contrary, no Stock will be issued to you within six months from the Award Date. 
 Transactions involving Stock delivered under this Award Agreement are subject to the securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in
transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate
Secretary or her staff before entering into any transactions involving Stock or RSUs. 

 Award Date: January 30, 2012 
 Page 10 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	 Sincerely,

	
	 David Filomeo

	 (On behalf of the Management Development and

Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

 Award Date: January 30, 2012 
 Page 11 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (RSU Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of restricted stock units to me under the Award Agreement (the “RSUs”) pursuant to the Lockheed Martin Corporation
2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the RSUs, I agree as follows: 

1. Restrictions Following Termination of Employment. 

(a) Covenant Not To Compete - Without the express written consent of the Management Development and Compensation Committee of the
Board of Directors of the Corporation, during the two-year period following the date of my termination of employment (the “Termination Date”) with the Corporation, I will not, directly or indirectly, be employed by, provide services to, or
advise a “Restricted Company” (as defined in Section 6 below), whether as an employee, advisor, director, officer, partner or consultant, or in any other position, function or role that, in any such case, 

 

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

  

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

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

 Award Date: January 30, 2012 
 Page 12 
  

 (c) Protection of Proprietary Information – Except to the extent required
by law, following my Termination Date, I will have a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or
Proprietary Information” (as defined below) of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the
terms of such agreements. I will not use or disclose or allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was responsible for
creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or
confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Corporation for
assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the property of the
Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to information that a
person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if
used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

 

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

 

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

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

 Award Date: January 30, 2012 
 Page 13 
  

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

2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made
available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the RSUs is expressly
made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the
benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to and
extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon
demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

  

	 	(iii)	 The Corporation determines that I engaged in fraud, bribery or any other illegal act or that my intentional misconduct or gross negligence (including
the failure to report the acts of another person of which I 

 Award Date: January 30, 2012 
 Page 14 
  

	 	
had knowledge during the period I was employed by the Corporation) contributed to another person’s fraud, bribery or other illegal act, which in any such case adversely affected the
Corporation’s financial position or reputation; or 

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the RSUs
and continue to own the shares of Common Stock of the Corporation issued or issuable in respect of the RSUs, the shares of Common Stock so acquired; (ii) to the extent I have earned any of the RSUs and no longer own the shares of Common Stock
of the Corporation issued or issuable in respect of the RSUs, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless otherwise determined by the Management Development
and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally reported by the New York Stock Exchange on such date), and (iii) to the extent I have not
earned the RSUs fully, all of my remaining rights, title or interest in the RSUs. 
 4. Injunctive Relief. I acknowledge
that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to
any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to
specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security. 
 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular
provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of this provision in
the particular jurisdiction in which such adjudication is made. 
 6. Definitions. Capitalized terms not defined in this
PECA have the meaning given to them in the Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below: 

 Award Date: January 30, 2012 
 Page 15 
  

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

(a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the RSUs to me.

 (b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any
enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of
Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 

(d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise,
affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from
time to time or applicable law or regulation. 

 Award Date: January 30, 2012 
 Page 16 
  

 This PECA is effective as of the acceptance by me of the award of
RSUs under the Award Agreement and is not contingent on the vesting of my RSUs. 

 Award Date: January 30, 2012 
 Page 17 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	Chief Executive Officer	  	6 times
	President/Chief Operating Officer	  	5 times
	Chief Financial Officer	  	4 times
	Business Area Executive Vice Presidents	  	3 times
	Corporate Senior Vice Presidents	  	2 times
	Other Elected Officers	  	2 times
	All Other Vice Presidents	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 Stock Option Int’l (nonperformance) 
  

 Grant Date: January 30, 2012 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 
 THE SECURITIES ACT OF 1933

 Dear Optionee: 

The Management Development and Compensation Committee (the “Committee”) of Lockheed Martin Corporation’s Board of
Directors has awarded to you options to purchase shares of Lockheed Martin Common Stock (“Stock”) under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (the “Plan”) and any rules and procedures adopted by
the Committee. 
 This letter constitutes the Award Agreement for your Options and sets forth some of the terms and conditions
of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the Plan document and this Award Agreement are a part. In the event of a
conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 
 The term “Options” as used in this Award Agreement refers only to the nonqualified stock options awarded to you under this Award Agreement. References to the “Corporation” include
Lockheed Martin Corporation and its Subsidiaries. 
 Your Award is not effective or enforceable until you properly
acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as instructed below as soon as possible but in no
event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award Date. Acceptance of this Award Agreement constitutes your consent to any
action taken under the Plan consistent with its terms with respect to this Award. 
 If you do not acknowledge your
acceptance of this Award Agreement on or before May 31, 2012, this Award will be forfeited. 
 EXERCISE PRICE 

The exercise price of the Options granted hereunder is $         per Option. Under certain
circumstances set forth in the Plan and this Award Agreement, this exercise price may be subject to adjustment. 

 Grant Date: January 30, 2012 
 Page 2 
  

 The Committee currently allows the exercise price of an Option to be paid in cash, by
the tender of Stock or through a combination of Stock and cash. No fractional shares of Stock may be tendered in payment, nor will fractional shares be issued. The Committee retains the discretion, at any time, to limit the method of payment to
cash. If you elect to pay with Stock, you must have owned the shares tendered for at least six months. If Stock is tendered, it will be valued at its Fair Market Value on the date of tender. 
 VESTING, EXPIRATION, AND FORFEITURE 
 General Rule - An Option
is subject to forfeiture and may not be exercised until it has vested. In addition, an Option may not be exercised after its expiration or forfeiture. Subject to certain special rules discussed below, you must remain in the employ of the Corporation
until the applicable date of vesting. The vesting schedule for your Options is as follows: 
 First Vesting Date:
January 30, 2013 – One-Third 
 Second Vesting Date: January 30, 2014 – One-Third 

Third Vesting Date: January 30, 2015 – One-Third 
 If the number of Options granted cannot be evenly divided by three into whole shares, the fractional shares will vest on the Third Vesting Date. If you are not continuously employed by the Corporation
from the Grant Date until the date on which an Option vests, that Option is forfeited. 
 Vested Options, except as otherwise
provided in this letter, or in the Plan, or as may be restricted by law, may be exercised for a period ending on January 28, 2022. Options not exercised by that date will be forfeited. 

You should make every effort to keep the Vice President of Total Rewards and Performance Management informed of your current address so
that we may communicate with you about your Options and their current status. The Corporation cannot exercise the Options for you, and so you must pay close attention to their terms and any impending expiration. 

SPECIAL RULES AS TO VESTING, FORFEITURE AND EXPIRATION 
 Retirement or Layoff - If you retire or are laid off prior to the Third Vesting Date, you will forfeit any Options that have not vested on or prior to the effective day of your retirement or layoff
in accordance with the general rule set forth above under the title “Vesting, Expiration and Forfeiture,” requiring continuous employment. Your vested Options will be exercisable until January 28, 2022 at which time any unexercised
Options will expire and may no longer be exercised. 
 For purposes of this provision, the term “retirement”
means retirement from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans, termination following
attainment of (i) age 55 and five years of service, or (ii) age 65.  

 Grant Date: January 30, 2012 
 Page 3 
  

 Death or Disability - Your Options will immediately vest and no longer be subject
to the continuing employment requirement if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

Your vested Options will expire at the end of their remaining term on January 28, 2022, at which time any unexercised Options will
expire and may no longer be exercised. In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or May 31, 2012, whichever is earlier), you will forfeit all of your Options granted hereunder.

 Resignation or Termination for Cause - If you resign or your employment otherwise terminates, whether voluntarily or
by action of the Corporation, and in the latter case whether with or without “cause,” unvested Options will be forfeited upon your termination. Vested Options will expire at the end of their remaining term or 30 calendar days following
your resignation or termination, whichever is shorter. 
 Divestiture - If the Corporation divests (as defined below) all
or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or its subsidiaries and transfer of such employment to the other party to the divestiture, the
special rules in this paragraph will apply. Following a divestiture, you will continue to vest in your unvested Options as though you had remained in the employ of the Corporation. Your vested Options will be exercisable until a revised expiration
date which is the first to occur of (i) the fifth anniversary of the effective date of the divestiture; or (ii) the original expiration date (“Revised Expiration Date”). If you die following divestiture but prior to the Revised
Expiration Date, all unvested Options will immediately vest as of the date of death and be exercisable by your beneficiary until the Revised Expiration Date. For the purposes of this provision, the term “divestiture” shall mean a
transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership, joint venture or other business entity of which less than 50% of the voting stock or other equity interests
(in the case of entities other than corporations) is owned or controlled directly or indirectly, by the Corporation, one or more of the Corporation’s subsidiaries or by a combination thereof. 

Change in Control – In the event of a change in control of the Corporation, as defined in Section 7 of the Plan, the
vesting date of all outstanding Options shall be accelerated so as to cause all outstanding Options to become immediately exercisable. Following a change in control, your vested Options will be exercisable until January 28, 2022 at which time
any unexercised Options will expire and may no longer be exercised. 

 Grant Date: January 30, 2012 
 Page 4 
  

 LIMITATIONS ON EXERCISE 

Notwithstanding any other provision herein, no Option may be exercised less than six months nor more than ten years after the date of
grant. Further, from time to time, your ability to exercise Options which otherwise would be exercisable may be restricted, if in the opinion of counsel for the Corporation, this is necessary or advisable in order to ensure compliance with
applicable laws, rules or regulations. 
 ASSIGNMENT, TRANSFERABILITY, AND BENEFICIARIES 

Options may not be pledged, assigned or transferred except that Options may be transferred by will or by the laws of descent and
distribution or you may provide that, upon your death, the Options are to be transferred to a beneficiary or beneficiaries that you designate. To designate a beneficiary or beneficiaries, please complete the Beneficiary Designation located at
http://www.benefitaccess.com and return an original executed copy to the Vice President of Total Rewards and Performance Management (Mail Point 123). 
 During your lifetime, only you may exercise your Options. In the event of your death or disability, your Options may be exercised by a properly designated beneficiary or beneficiaries or your guardian or
authorized representative, as applicable. If at your death, a completed beneficiary designation form is not on file at the office of the Vice President of Total Rewards and Performance Management (or if your beneficiary predeceases you), your
Options may be exercised by your estate. 
 TAX WITHHOLDING 
 When you exercise an Option, the Corporation will withhold applicable taxes as required by law. The Committee currently allows you to pay the withholding taxes in cash, by tendering Stock or through a
combination of Stock and cash. No fractional shares of Stock may be tendered in payment. The Committee retains the discretion to, at any time, limit the method of payment to cash. Unlike payment of the exercise price of the Options, if you elect to
pay taxes with Stock, you need not have owned the shares tendered for at least six months. Payment must be made at the time of exercise. To the extent that cash is not tendered, the Corporation will retain from the shares of Stock that you would
otherwise receive upon exercise of the Option that number of shares sufficient to satisfy the withholding obligation. If Stock is tendered or is deemed to have been tendered, it will be valued at its Fair Market Value. 

You agree to make appropriate arrangements with the Corporation for the satisfaction of all income and employment tax withholding
requirements as well as social insurance contributions applicable to the Option exercise or the disposition of any Stock acquired upon exercise (“Option Taxes”). In this regard, you authorize the Corporation to withhold all Option Taxes
legally payable by you from your wages or other cash compensation paid to you by the Corporation or, if permissible under applicable legal requirements, from proceeds from the sale of Stock acquired upon exercise of the Option in an amount
sufficient to cover the Option Taxes. 

 Grant Date: January 30, 2012 
 Page 5 
  

 
You acknowledge and agree that the Corporation may refuse to honor the exercise and refuse to deliver Stock if such withholding amounts are not delivered at the time of exercise. To the extent
that the amounts withheld by the Corporation are insufficient to satisfy the Option Taxes, you shall pay to the Corporation any additional amount of the Option Taxes that may be required to be withheld as a result of your participation in the Plan.
You acknowledge and agree that withholding obligations may change from time to time as laws or their interpretations change, and regardless of the Corporation’s actions with respect to the Option Taxes, the ultimate liability for any and all
Option Taxes is and shall remain your responsibility, and that the Corporation (a) makes no representation or undertaking regarding the treatment of any Option Taxes in connection with any aspect of the grant of the Option, including the grant
or exercise of the Option and the subsequent sale of Stock acquired under the Plan; and (b) does not commit to structure the terms of the grant or any aspect of the Option to reduce or eliminate your liability for Option Taxes. You acknowledge
that you may not exercise this Option unless the tax withholding obligations of the Corporation are satisfied. 
 You understand
that you may suffer adverse tax consequences as a result of your purchase or disposition of the Stock. You represent that you will consult with your own tax advisors in connection with the purchase or disposition of the Stock and that you are not
relying on the Corporation for any tax advice. 
 AMENDMENT AND TERMINATION OF THE PLAN OR AWARDS 

As provided in Section 9 of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at
any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement. Notwithstanding Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment
of Award Agreements will, except with your express written consent, adversely affect your rights under this Award Agreement. This Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition
of tax under Code section 409A. 
 DATA PRIVACY CONSENT 
 You hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this Award Agreement by and among the Corporation
for the exclusive purpose of implementing, administering and managing your participation in the Plan. 
 You understand that the
Corporation holds certain personal information about you, including, but not limited to, your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares
or directorships held in the Corporation, details of all awards or any other entitlement to shares awarded, canceled, exercised, vested, unvested or outstanding in your favor, for the purpose of implementing, administering and managing the Plan
(“Data”). You understand that Data may be transferred to any third parties assisting in the implementation, administration and management 

 Grant Date: January 30, 2012 
 Page 6 
  

 
of the Plan, that these recipients may be located in your country or elsewhere, and that the recipient’s country may have different data privacy laws and protections than your country. You
understand that you may request a list with the names and addresses of any potential recipients of the Data by contacting your local human resources representative. You authorize the recipients to receive, possess, use, retain and transfer the Data,
in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Corporation may
elect to administer the settlement of any award. You understand that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You understand that you may, at any time, view Data, request
additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing your local human resources representative. You
understand, however, that refusing or withdrawing your consent may affect your ability to participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your
local human resources representative. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and
Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to
acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to
this Award. The Committee has authorized electronic means for the delivery and acceptance of this Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or
by signing and returning a copy of this letter on or before May 31, 2012 as follows: 
  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Grant Date: January 30, 2012 
 Page 7 
  

 Assuming prompt and proper acknowledgment of this Award Agreement as described, this
Award will be effective as of the Award Date. 
 If you do not personally acknowledge acceptance of your award by executing this
Award Agreement on or before May 31, 2012, it will not be effective, you will not be able to exercise the Options and you will forfeit the Options granted hereunder. 
 By accepting this Award Agreement electronically, you consent to electronic delivery of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent
can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address noted above. 

EMPLOYEE ACKNOWLEDGMENT 

You acknowledge and agree as follows: 
 (a) the Plan is discretionary in nature and that the Committee may amend, suspend, or terminate it at any time; 
 (b) the grant of Options is voluntary and occasional and does not create any contractual or other right to receive future grants of any Options, or benefits in lieu of any Options even if Options have
been granted repeatedly in the past; 
 (c) all determinations with respect to such future Options, if any,
including but not limited to the times when Options shall be granted or when Options shall vest, will be at the sole discretion of the Committee; 
 (d) your participation in the Plan is voluntary; 
 (e) the value of
Options is an extraordinary item of compensation, which is outside the scope of your employment contract (if any), except as may otherwise be explicitly provided in your employment contract; 

(f) the Options are not part of normal or expected compensation or salary for any purpose, including, but not limited to,
calculating termination, severance, resignation, redundancy, end of service, or similar payments, or bonuses, long-service awards, pension or retirement benefits; 

(g) the Options shall expire upon termination of your employment for any reason except as may otherwise be explicitly
provided in the Plan and this Award Agreement; 
 (h) the future value of the shares is unknown and cannot be
predicted with certainty; and 

 Grant Date: January 30, 2012 
 Page 8 
  

 (i) no claim or entitlement to compensation or damages arises from the
termination of the Options or diminution in value of the Options or Stock and you irrevocably release the Corporation and your employer from any such claim that may arise. 
 MISCELLANEOUS 
 For the purpose of calculating the expiration date of the
Options, all Options will be deemed to expire on January 28, 2022 at the close of trading in Lockheed Martin Corporation common stock on the New York Stock Exchange (or, if the security is not so listed or if the principal market on which it is
traded is not the New York Stock Exchange, such other reporting system as shall be selected by the Committee). 
 If you are on
leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 

Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that
any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. The value of the Options awarded to you will not be taken
into account for other benefits offered by the Corporation, including but not limited to pension benefits. 
 Transactions
involving Options or Stock exchanged for Options delivered under this Award Agreement are subject to U.S. securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate U.S.
securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before
entering into any transactions involving Stock or Options. 

 Grant Date: January 30, 2012 
 Page 9 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	Sincerely,
	
	David Filomeo
	(On behalf of the Management Development and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
			
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

 Stock Option PECA CEO (nonperformance) 
  

 Grant Date: January 30, 2012 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 
 THE SECURITIES ACT OF 1933

 Dear Optionee: 

The Management Development and Compensation Committee (the “Committee”) of Lockheed Martin Corporation’s Board of
Directors has awarded to you options to purchase shares of Lockheed Martin Common Stock (“Stock”) under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (the “Plan”) and any rules and procedures adopted by
the Committee. 
 This letter constitutes the Award Agreement for your Options and sets forth some of the terms and conditions
of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the Plan document and this Award Agreement are a part. In the event of a
conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 
 The term “Options” as used in this Award Agreement refers only to the nonqualified stock options awarded to you under this Award Agreement. References to the “Corporation” include
Lockheed Martin Corporation and its Subsidiaries. 
 Your Award is not effective or enforceable until you properly
acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as instructed below as soon as possible but in no
event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award Date. Acceptance of this Award Agreement constitutes your consent to any
action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A (“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership
Requirements”). 
 If you do not acknowledge your acceptance of this Award Agreement on or before May 31, 2012,
this Award will be forfeited. 

 Grant Date: January 30, 2012 
 Page 2 
  

 EXERCISE PRICE 
 The exercise price of the Options granted hereunder is $         per Option. Under certain circumstances set forth in the Plan and this Award Agreement, this
exercise price may be subject to adjustment. 
 The Committee currently allows the exercise price of an Option to be paid in
cash, by the tender of Stock or through a combination of Stock and cash. No fractional shares of Stock may be tendered in payment, nor will fractional shares be issued. The Committee retains the discretion, at any time, to limit the method of
payment to cash. If you elect to pay with Stock, you must have owned the shares tendered for at least six months. If Stock is tendered, it will be valued at its Fair Market Value on the date of tender. 

VESTING, EXPIRATION, AND FORFEITURE 
 General Rule - An Option is subject to forfeiture and may not be exercised until it has vested. In addition, an Option may not be exercised after its expiration or forfeiture. Subject to certain
special rules discussed below, you must remain in the employ of the Corporation until the applicable date of vesting. The vesting schedule for your Options is as follows: 
 First Vesting Date: January 30, 2013 – One-Third 
 Second Vesting Date:
January 30, 2014 – One-Third 
 Third Vesting Date: January 30, 2015 – One-Third 

If the number of Options granted cannot be evenly divided by three into whole shares, the fractional shares will vest on the Third
Vesting Date. If you are not continuously employed by the Corporation from the Grant Date until the date on which an Option vests, that Option is forfeited. 
 Vested Options, except as otherwise provided in this letter, or in the Plan, or as may be restricted by law, may be exercised for a period ending on January 28, 2022. Options not exercised by that
date will be forfeited. 
 You should make every effort to keep the Vice President of Total Rewards and Performance Management
informed of your current address so that we may communicate with you about your Options and their current status. The Corporation cannot exercise the Options for you, and so you must pay close attention to their terms and any impending expiration.

 SPECIAL RULES AS TO VESTING, FORFEITURE AND EXPIRATION 
 Retirement or Layoff - If you retire or are laid off prior to the Third Vesting Date, you will forfeit any Options that have not vested on or prior to the effective day of your retirement or layoff
in accordance with the general rule set forth above under the title “Vesting, Expiration and Forfeiture,” requiring continuous employment. Your vested Options will be exercisable until January 28, 2022 at which time any unexercised
Options will expire and may no longer be exercised. 

 Grant Date: January 30, 2012 
 Page 3 
  

 For purposes of this provision, the term “retirement” means retirement from
service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans, termination following attainment of
(i) age 55 and five years of service, or (ii) age 65. 
 Death or Disability - Your Options will immediately
vest and no longer be subject to the continuing employment requirement if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

Your vested Options will expire at the end of their remaining term on January 28, 2022, at which time any unexercised Options will
expire and may no longer be exercised. In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or May 31, 2012, whichever is earlier), you will forfeit all of your Options granted hereunder.

 Resignation or Termination for Cause - If you resign or your employment otherwise terminates, whether voluntarily or
by action of the Corporation, and in the latter case whether with or without “cause,” unvested Options will be forfeited upon your termination. Vested Options will expire at the end of their remaining term or 30 calendar days following
your resignation or termination, whichever is shorter. 
 Divestiture - If the Corporation divests (as defined below) all
or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or its subsidiaries and transfer of such employment to the other party to the divestiture, the
special rules in this paragraph will apply. Following a divestiture, you will continue to vest in your unvested Options as though you had remained in the employ of the Corporation. Your vested Options will be exercisable until a revised expiration
date which is the first to occur of (i) the fifth anniversary of the effective date of the divestiture; or (ii) the original expiration date (“Revised Expiration Date”). If you die following divestiture but prior to the Revised
Expiration Date, all unvested Options will immediately vest as of the date of death and be exercisable by your beneficiary until the Revised Expiration Date. For the purposes of this provision, the term “divestiture” shall mean a
transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership, joint venture or other business entity of which less than 50% of the voting stock or other equity interests
(in the case of entities other than corporations) is owned or controlled directly or indirectly, by the Corporation, one or more of the Corporation’s subsidiaries or by a combination thereof. 

 Grant Date: January 30, 2012 
 Page 4 
  

 Change in Control – In the event of a change in control of the Corporation,
as defined in Section 7 of the Plan, the vesting date of all outstanding Options shall be accelerated so as to cause all outstanding Options to become immediately exercisable. Following a change in control, your vested Options will be
exercisable until January 28, 2022 at which time any unexercised Options will expire and may no longer be exercised. 
 LIMITATIONS ON
EXERCISE 
 Notwithstanding any other provision herein, no Option may be exercised less than six months nor more than ten
years after the date of grant. Further, from time to time, your ability to exercise Options which otherwise would be exercisable may be restricted, if in the opinion of counsel for the Corporation, this is necessary or advisable in order to ensure
compliance with applicable federal or state law, rules or regulations. 
 ASSIGNMENT, TRANSFERABILITY, AND BENEFICIARIES 

Options may not be pledged, assigned or transferred except that Options may be transferred by will or by the laws of descent and
distribution or you may provide that, upon your death, the Options are to be transferred to a beneficiary or beneficiaries that you designate. To designate a beneficiary or beneficiaries, please complete the Beneficiary Designation located at
http://www.benefitaccess.com and return an original executed copy to the Vice President of Total Rewards and Performance Management (Mail Point 123). 
 During your lifetime, only you may exercise your Options. In the event of your death or disability, your Options may be exercised by a properly designated beneficiary or beneficiaries or your guardian or
authorized representative, as applicable. If at your death, a completed beneficiary designation form is not on file at the office of the Vice President of Total Rewards and Performance Management (or if your beneficiary predeceases you), your
Options may be exercised by your estate. 
 TAX WITHHOLDING 
 When you exercise an Option, the Corporation will withhold applicable taxes as required by law. The Committee currently allows you to pay the withholding taxes in cash, by tendering Stock or through a
combination of Stock and cash. No fractional shares of Stock may be tendered in payment. The Committee retains the discretion to, at any time, limit the method of payment to cash. Unlike payment of the exercise price of the Options, if you elect to
pay withholding taxes with Stock, you need not have owned the shares tendered for at least six months. Payment must be made at the time of exercise. To the extent that cash is not tendered, the Corporation will retain from the shares of Stock that
you would otherwise receive upon exercise of the Option that number of shares sufficient to satisfy the withholding obligation. If Stock is tendered or is deemed to have been tendered, it will be valued at its Fair Market Value. 

 Grant Date: January 30, 2012 
 Page 5 
  

 Withholding will be at the minimum rate prescribed by law. Therefore, you may owe taxes
relating to the exercise in addition to the amount withheld by the Corporation. If you desire, you may request that tax be withheld at greater than the minimum rate. 
 AMENDMENT AND TERMINATION OF THE PLAN OR AWARDS 
 As provided in
Section 9 of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement.
Notwithstanding Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award
Agreement. This Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Grant Date: January 30, 2012 
 Page 6 
  

 Assuming prompt and proper acknowledgment of this Award Agreement as described, this
Award will be effective as of the Award Date. 
 If you do not personally acknowledge acceptance of your award by executing this
Award Agreement on or before May 31, 2012, it will not be effective, you will not be able to exercise the Options and you will forfeit the Options granted hereunder. 
 By accepting this Award Agreement electronically, you consent to electronic delivery of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent
can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address noted above. 

POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 For the
purpose of calculating the expiration date of the Options, all Options will be deemed to expire on January 28, 2022 at the close of trading in Lockheed Martin Corporation common stock on the New York Stock Exchange (or, if the security is not
so listed or if the principal market on which it is traded is not the New York Stock Exchange, such other reporting system as shall be selected by the Committee). 
 If you are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation.

 Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or
guarantee that any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. The value of the Options awarded to you will
not be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. 

 Grant Date: January 30, 2012 
 Page 7 
  

 Transactions involving Options or Stock exchanged for Options delivered under this Award
Agreement are subject to the securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to
additional restrictions. The Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or Options. 

 Grant Date: January 30, 2012 
 Page 8 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	Sincerely,
	
	David Filomeo
	(On behalf of the Management Development and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
			
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

 Grant Date: January 30, 2012 
 Page 9 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (Stock Option Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with a Grant Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of stock options to me under the Award Agreement (the “Options”) pursuant to the Lockheed Martin Corporation 2011
Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the Options, I agree as follows: 

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

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

  

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

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

 Grant Date: January 30, 2012 
 Page 10 
  

 (c) Protection of Proprietary Information – Except to the extent required
by law, following my Termination Date, I will have a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or
Proprietary Information” (as defined below) of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the
terms of such agreements. I will not use or disclose or allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was responsible for
creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or
confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Corporation for
assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the property of the
Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to information that a
person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if
used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

 

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

 

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

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

 Grant Date: January 30, 2012 
 Page 11 
  

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

2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made
available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the Options is
expressly made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value
of the benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to
and extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon
demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

 Grant Date: January 30, 2012 
 Page 12 
  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have exercised any of the
Options and continue to own the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, the shares of Common Stock so acquired upon exercise; (ii) to the extent I have exercised any of the Options and no
longer own the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless
otherwise determined by the Management Development and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally reported by the New York Stock Exchange on such
date), and (iii) to the extent I have not exercised the Options fully, all of my remaining rights, title or interest in the Options. 
 4. Injunctive Relief. I acknowledge that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of
Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under
Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security.

 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be
enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such
deletion to apply only with respect to the operation of this provision in the particular jurisdiction in which such adjudication is made. 

 Grant Date: January 30, 2012 
 Page 13 
  

 6. Definitions. Capitalized terms not defined in this PECA have the meaning given
to them in the Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below: 
 (a)
“Restricted Company” means The Boeing Company, General Dynamics Corporation, Northrop Grumman Corporation, the Raytheon Company, United Technologies Corporation, Honeywell International Inc., BAE Systems Inc., L-3 Communications
Corporation, the Harris Corporation, Thales, EADS North America and (i) any entity directly or indirectly controlling, controlled by, or under common control with any of the foregoing, and (ii) any successor to all or part of the business
of any of the foregoing as a result of a merger, reorganization, consolidation, spin-off, split-up, acquisition, divestiture, or similar transaction. 
 (b) “Competitive Products or Services” means products or services that compete with, or are an alternative or potential alternative to, products sold or services provided by a subsidiary,
business area, division or operating unit or business of the Corporation as of the Termination Date and at any time within the two-year period ending on the Termination Date; provided, that, (i) if I had direct responsibility for the business
of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services includes the
products so sold or the services so provided during that two-year period by the subsidiary, business area, division or operating unit of the Corporation for which I had responsibility, and (ii) if I did not have direct responsibility for the
business of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services
includes the products so sold or the services so provided by a subsidiary, business area, division or operating unit of the Corporation for which I had access (or was required or permitted such access in the performance of my duties or
responsibilities with the Corporation) to Confidential or Proprietary Information of the Corporation at any time during the two-year period ending on the Termination Date. 
 7. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA
constitute the entire agreement governing the terms of the award of the Options to me. 
 (b) This PECA shall be governed by
Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of
Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 

 Grant Date: January 30, 2012 
 Page 14 
  

 (c) This PECA shall inure to the benefit of the Corporation’s successors and
assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part
following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and
me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 

This PECA is effective as of the acceptance by me of the award of Options under the Award Agreement and is not contingent on the
vesting of the Options. 

 Grant Date: January 30, 2012 
 Page 15 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 Stock Option PECA SVPHR (nonperformance) 
  

 Grant Date: January 30, 2012 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 
 THE SECURITIES ACT OF 1933

 Dear Optionee: 

The Management Development and Compensation Committee (the “Committee”) of Lockheed Martin Corporation’s Board of
Directors has awarded to you options to purchase shares of Lockheed Martin Common Stock (“Stock”) under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (the “Plan”) and any rules and procedures adopted by
the Committee. 
 This letter constitutes the Award Agreement for your Options and sets forth some of the terms and conditions
of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the Plan document and this Award Agreement are a part. In the event of a
conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 
 The term “Options” as used in this Award Agreement refers only to the nonqualified stock options awarded to you under this Award Agreement. References to the “Corporation” include
Lockheed Martin Corporation and its Subsidiaries. 
 Your Award is not effective or enforceable until you properly
acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as instructed below as soon as possible but in no
event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award Date. Acceptance of this Award Agreement constitutes your consent to any
action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A (“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership
Requirements”). 
 If you do not acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this
Award will be forfeited. 

 Grant Date: January 30, 2012 
 Page 2 
  

 EXERCISE PRICE 
 The exercise price of the Options granted hereunder is $         per Option. Under certain circumstances set forth in the Plan and this Award Agreement, this
exercise price may be subject to adjustment. 
 The Committee currently allows the exercise price of an Option to be paid in
cash, by the tender of Stock or through a combination of Stock and cash. No fractional shares of Stock may be tendered in payment, nor will fractional shares be issued. The Committee retains the discretion, at any time, to limit the method of
payment to cash. If you elect to pay with Stock, you must have owned the shares tendered for at least six months. If Stock is tendered, it will be valued at its Fair Market Value on the date of tender. 

VESTING, EXPIRATION, AND FORFEITURE 
 General Rule - An Option is subject to forfeiture and may not be exercised until it has vested. In addition, an Option may not be exercised after its expiration or forfeiture. Subject to certain
special rules discussed below, you must remain in the employ of the Corporation until the applicable date of vesting. The vesting schedule for your Options is as follows: 
 First Vesting Date: January 30, 2013 – One-Third 
 Second Vesting Date:
January 30, 2014 – One-Third 
 Third Vesting Date: January 30, 2015 – One-Third 

If the number of Options granted cannot be evenly divided by three into whole shares, the fractional shares will vest on the Third
Vesting Date. If you are not continuously employed by the Corporation from the Grant Date until the date on which an Option vests, that Option is forfeited. 
 Vested Options, except as otherwise provided in this letter, or in the Plan, or as may be restricted by law, may be exercised for a period ending on January 28, 2022. Options not exercised by that
date will be forfeited. 
 You should make every effort to keep the Vice President of Total Rewards and Performance Management
informed of your current address so that we may communicate with you about your Options and their current status. The Corporation cannot exercise the Options for you, and so you must pay close attention to their terms and any impending expiration.

 SPECIAL RULES AS TO VESTING, FORFEITURE AND EXPIRATION 
 Retirement or Layoff- If you retire or are laid off prior to the Third Vesting Date, you will forfeit any Options that have not vested on or prior to the effective day of your retirement or layoff
in accordance with the general rule set forth above under the title “Vesting, Expiration and Forfeiture,” requiring continuous employment. Your vested Options will be exercisable until January 28, 2022 at which time any
unexercised Options will expire and may no longer be exercised. 

 Grant Date: January 30, 2012 
 Page 3 
  

 For purposes of this provision, the term “retirement” means retirement from
service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans, termination following attainment of
(i) age 55 and five years of service, or (ii) age 65. 
 Death or Disability - Your Options will immediately
vest and no longer be subject to the continuing employment requirement if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

Your vested Options will expire at the end of their remaining term on January 28, 2022, at which time any unexercised Options will
expire and may no longer be exercised. In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or May 31, 2012, whichever is earlier), you will forfeit all of your Options granted hereunder.

 Resignation or Termination for Cause - If you resign or your employment otherwise terminates, whether voluntarily or
by action of the Corporation, and in the latter case whether with or without “cause,” unvested Options will be forfeited upon your termination. Vested Options will expire at the end of their remaining term or 30 calendar days following
your resignation or termination, whichever is shorter. 
 Divestiture - If the Corporation divests (as defined below) all
or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or its subsidiaries and transfer of such employment to the other party to the divestiture, the
special rules in this paragraph will apply. Following a divestiture, you will continue to vest in your unvested Options as though you had remained in the employ of the Corporation. Your vested Options will be exercisable until a revised expiration
date which is the first to occur of (i) the fifth anniversary of the effective date of the divestiture; or (ii) the original expiration date (“Revised Expiration Date”). If you die following divestiture but prior to the Revised
Expiration Date, all unvested Options will immediately vest as of the date of death and be exercisable by your beneficiary until the Revised Expiration Date. For the purposes of this provision, the term “divestiture” shall mean a
transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership, joint venture or other business entity of which less than 50% of the voting stock or other equity interests
(in the case of entities other than corporations) is owned or controlled directly or indirectly, by the Corporation, one or more of the Corporation’s subsidiaries or by a combination thereof. 

 Grant Date: January 30, 2012 
 Page 4 
  

 Change in Control – In the event of a change in control of the Corporation,
as defined in Section 7 of the Plan, the vesting date of all outstanding Options shall be accelerated so as to cause all outstanding Options to become immediately exercisable. Following a change in control, your vested Options will be
exercisable until January 28, 2022 at which time any unexercised Options will expire and may no longer be exercised. 
 LIMITATIONS ON
EXERCISE 
 Notwithstanding any other provision herein, no Option may be exercised less than six months nor more than ten
years after the date of grant. Further, from time to time, your ability to exercise Options which otherwise would be exercisable may be restricted, if in the opinion of counsel for the Corporation, this is necessary or advisable in order to ensure
compliance with applicable federal or state law, rules or regulations. 
 ASSIGNMENT, TRANSFERABILITY, AND BENEFICIARIES 

Options may not be pledged, assigned or transferred except that Options may be transferred by will or by the laws of descent and
distribution or you may provide that, upon your death, the Options are to be transferred to a beneficiary or beneficiaries that you designate. To designate a beneficiary or beneficiaries, please complete the Beneficiary Designation located at
http://www.benefitaccess.com and return an original executed copy to the Vice President of Total Rewards and Performance Management (Mail Point 123). 
 During your lifetime, only you may exercise your Options. In the event of your death or disability, your Options may be exercised by a properly designated beneficiary or beneficiaries or your guardian or
authorized representative, as applicable. If at your death, a completed beneficiary designation form is not on file at the office of the Vice President of Total Rewards and Performance Management (or if your beneficiary predeceases you), your
Options may be exercised by your estate. 
 TAX WITHHOLDING 
 When you exercise an Option, the Corporation will withhold applicable taxes as required by law. The Committee currently allows you to pay the withholding taxes in cash, by tendering Stock or through a
combination of Stock and cash. No fractional shares of Stock may be tendered in payment. The Committee retains the discretion to, at any time, limit the method of payment to cash. Unlike payment of the exercise price of the Options, if you elect to
pay withholding taxes with Stock, you need not have owned the shares tendered for at least six months. Payment must be made at the time of exercise. To the extent that cash is not tendered, the Corporation will retain from the shares of Stock that
you would otherwise receive upon exercise of the Option that number of shares sufficient to satisfy the withholding obligation. If Stock is tendered or is deemed to have been tendered, it will be valued at its Fair Market Value. 

 Grant Date: January 30, 2012 
 Page 5 
  

 Withholding will be at the minimum rate prescribed by law. Therefore, you may owe taxes
relating to the exercise in addition to the amount withheld by the Corporation. If you desire, you may request that tax be withheld at greater than the minimum rate. 
 AMENDMENT AND TERMINATION OF THE PLAN OR AWARDS 
 As provided in
Section 9 of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement.
Notwithstanding Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award
Agreement. This Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Grant Date: January 30, 2012 
 Page 6 
  

 Assuming prompt and proper acknowledgment of this Award Agreement as described, this
Award will be effective as of the Award Date. 
 If you do not personally acknowledge acceptance of your award by executing this
Award Agreement on or before May 31, 2012, it will not be effective, you will not be able to exercise the Options and you will forfeit the Options granted hereunder. 
 By accepting this Award Agreement electronically, you consent to electronic delivery of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent
can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address noted above. 

POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 For the
purpose of calculating the expiration date of the Options, all Options will be deemed to expire on January 28, 2022 at the close of trading in Lockheed Martin Corporation common stock on the New York Stock Exchange (or, if the security is not
so listed or if the principal market on which it is traded is not the New York Stock Exchange, such other reporting system as shall be selected by the Committee). 
 If you are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation.

 Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or
guarantee that any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. The value of the Options awarded to you will
not be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. 

 Grant Date: January 30, 2012 
 Page 7 
  

 Transactions involving Options or Stock exchanged for Options delivered under this Award
Agreement are subject to the securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to
additional restrictions. The Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or Options. 

You have no rights as a stockholder to any securities covered by this Award Agreement until the date on which you become the holder of
record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan, the Plan document will control. 

 

	
	Sincerely,
	
	David Filomeo
	(On behalf of the Management Development and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

 Grant Date: January 30, 2012 
 Page 8 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (Stock Option Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with a Grant Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of stock options to me under the Award Agreement (the “Options”) pursuant to the Lockheed Martin Corporation 2011
Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the Options, I agree as follows: 

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

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

  

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

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

 Grant Date: January 30, 2012 
 Page 9 
  

 (c) Protection of Proprietary Information – Except to the extent required
by law, following my Termination Date, I will have a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or
Proprietary Information” (as defined below) of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the
terms of such agreements. I will not use or disclose or allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was responsible for
creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or
confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Corporation for
assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the property of the
Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to information that a
person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if
used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

 

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

 

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

 Grant Date: January 30, 2012 
 Page 10 
  

 (d) No disparagement – Following the Termination Date, I will not make any
statements, whether verbal or written, that disparage or reasonably may be interpreted to disparage the Corporation or its stockholders, directors, officers, employees, agents, attorneys, representatives, technology, products or services with
respect to any matter whatsoever. 
 (e) Cooperation in Litigation and Investigations - Following the Termination Date,
I will, to the extent reasonably requested, cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates
is a party or is required or requested to provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation.
Notwithstanding any other provision of this PECA, nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 

2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made
available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the Options is
expressly made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value
of the benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to
and extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon
demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

 Grant Date: January 30, 2012 
 Page 11 
  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not be
the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have exercised any of the
Options and continue to own the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, the shares of Common Stock so acquired upon exercise; (ii) to the extent I have exercised any of the Options and no
longer own the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless
otherwise determined by the Management Development and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally reported by the New York Stock Exchange on such
date), and (iii) to the extent I have not exercised the Options fully, all of my remaining rights, title or interest in the Options. 
 4. Injunctive Relief. I acknowledge that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of
Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under
Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security.

 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be
enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be 

 Grant Date: January 30, 2012 
 Page 12 
  

 
deemed amended to delete the portion adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of this provision in the particular jurisdiction in
which such adjudication is made. 
 6. Definitions. Capitalized terms not defined in this PECA have the meaning given to
them in the Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below: 
 (a)
“Restricted Company” means The Boeing Company, General Dynamics Corporation, Northrop Grumman Corporation, the Raytheon Company, United Technologies Corporation, Honeywell International Inc., BAE Systems Inc., L-3 Communications
Corporation, the Harris Corporation, Thales, EADS North America and (i) any entity directly or indirectly controlling, controlled by, or under common control with any of the foregoing, and (ii) any successor to all or part of the business
of any of the foregoing as a result of a merger, reorganization, consolidation, spin-off, split-up, acquisition, divestiture, or similar transaction. 
 (b) “Competitive Products or Services” means products or services that compete with, or are an alternative or potential alternative to, products sold or services provided by a subsidiary,
business area, division or operating unit or business of the Corporation as of the Termination Date and at any time within the two-year period ending on the Termination Date; provided, that, (i) if I had direct responsibility for the business
of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services includes the
products so sold or the services so provided during that two-year period by the subsidiary, business area, division or operating unit of the Corporation for which I had responsibility, and (ii) if I did not have direct responsibility for the
business of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services
includes the products so sold or the services so provided by a subsidiary, business area, division or operating unit of the Corporation for which I had access (or was required or permitted such access in the performance of my duties or
responsibilities with the Corporation) to Confidential or Proprietary Information of the Corporation at any time during the two-year period ending on the Termination Date. 
 7. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA
constitute the entire agreement governing the terms of the award of the Options to me. 
 (b) This PECA shall be governed by
Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of
Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 

 Grant Date: January 30, 2012 
 Page 13 
  

 (c) This PECA shall inure to the benefit of the Corporation’s successors and
assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part
following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and
me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 

This PECA is effective as of the acceptance by me of the award of Options under the Award Agreement and is not contingent on the
vesting of the Options. 

 Grant Date: January 30, 2012 
 Page 14 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	 Annual Base Pay Multiple

	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 Stock Option CA PECA CEO (nonperformance) 

Grant Date: January 30, 2012 
 THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT
HAVE BEEN REGISTERED UNDER 
 THE SECURITIES ACT OF 1933 
 Dear Optionee: 
 The Management Development and Compensation Committee (the
“Committee”) of Lockheed Martin Corporation’s Board of Directors has awarded to you options to purchase shares of Lockheed Martin Common Stock (“Stock”) under the Lockheed Martin Corporation 2011 Incentive Performance Award
Plan (the “Plan”) and any rules and procedures adopted by the Committee. 
 This letter constitutes the Award
Agreement for your Options and sets forth some of the terms and conditions of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which
the Plan document and this Award Agreement are a part. In the event of a conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 

The term “Options” as used in this Award Agreement refers only to the nonqualified stock options awarded to you under this
Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 
 Your
Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance
Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award Date. Acceptance
of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A (“Post-Employment Conduct
Agreement”) and Exhibit B (“Stock Ownership Requirements”). 
 If you do not acknowledge your acceptance of this
Award Agreement on or before May 31, 2012, this Award will be forfeited. 

 Grant Date: January 30, 2012 
 Page 2 
  

 EXERCISE PRICE 
 The exercise price of the Options granted hereunder is $         per Option. Under certain circumstances set forth in the Plan and this Award Agreement, this
exercise price may be subject to adjustment. 
 The Committee currently allows the exercise price of an Option to be paid in
cash, by the tender of Stock or through a combination of Stock and cash. No fractional shares of Stock may be tendered in payment, nor will fractional shares be issued. The Committee retains the discretion, at any time, to limit the method of
payment to cash. If you elect to pay with Stock, you must have owned the shares tendered for at least six months. If Stock is tendered, it will be valued at its Fair Market Value on the date of tender. 

VESTING, EXPIRATION, AND FORFEITURE 
 General Rule - An Option is subject to forfeiture and may not be exercised until it has vested. In addition, an Option may not be exercised after its expiration or forfeiture. Subject to certain
special rules discussed below, you must remain in the employ of the Corporation until the applicable date of vesting. The vesting schedule for your Options is as follows: 
 First Vesting Date: January 30, 2013 – One-Third 
 Second Vesting Date:
January 30, 2014 – One-Third 
 Third Vesting Date: January 30, 2015 – One-Third 

If the number of Options granted cannot be evenly divided by three into whole shares, the fractional shares will vest on the Third
Vesting Date. If you are not continuously employed by the Corporation from the Grant Date until the date on which an Option vests, that Option is forfeited. 
 Vested Options, except as otherwise provided in this letter, or in the Plan, or as may be restricted by law, may be exercised for a period ending on January 28, 2022. Options not exercised by that
date will be forfeited. 
 You should make every effort to keep the Vice President of Total Rewards and Performance Management
informed of your current address so that we may communicate with you about your Options and their current status. The Corporation cannot exercise the Options for you, and so you must pay close attention to their terms and any impending expiration.

 SPECIAL RULES AS TO VESTING, FORFEITURE AND EXPIRATION 
 Retirement or Layoff - If you retire or are laid off prior to the Third Vesting Date, you will forfeit any Options that have not vested on or prior to the effective day of your retirement or layoff
in accordance with the general rule set forth above under the title “Vesting, Expiration and Forfeiture,” requiring continuous employment. Your vested Options will be exercisable until January 28, 2022 at which time any unexercised
Options will expire and may no longer be exercised. 

 Grant Date: January 30, 2012 
 Page 3 
  

 For purposes of this provision, the term “retirement” means retirement
from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans, termination following attainment of
(i) age 55 and five years of service, or (ii) age 65.  
 Death or Disability - Your Options will
immediately vest and no longer be subject to the continuing employment requirement if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

Your vested Options will expire at the end of their remaining term on January 28, 2022, at which time any unexercised Options will
expire and may no longer be exercised. In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or May 31, 2012, whichever is earlier), you will forfeit all of your Options granted hereunder.

 Resignation or Termination for Cause - If you resign or your employment otherwise terminates, whether voluntarily or
by action of the Corporation, and in the latter case whether with or without “cause,” unvested Options will be forfeited upon your termination. Vested Options will expire at the end of their remaining term or 30 calendar days following
your resignation or termination, whichever is shorter. 
 Divestiture - If the Corporation divests (as defined below) all
or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or its subsidiaries and transfer of such employment to the other party to the divestiture, the
special rules in this paragraph will apply. Following a divestiture, you will continue to vest in your unvested Options as though you had remained in the employ of the Corporation. Your vested Options will be exercisable until a revised expiration
date which is the first to occur of (i) the fifth anniversary of the effective date of the divestiture; or (ii) the original expiration date (“Revised Expiration Date”). If you die following divestiture but prior to the Revised
Expiration Date, all unvested Options will immediately vest as of the date of death and be exercisable by your beneficiary until the Revised Expiration Date. For the purposes of this provision, the term “divestiture” shall mean a
transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership, joint venture or other business entity of which less than 50% of the voting stock or other equity interests
(in the case of entities other than corporations) is owned or controlled directly or indirectly, by the Corporation, one or more of the Corporation’s subsidiaries or by a combination thereof. 

 Grant Date: January 30, 2012 
 Page 4 
  

 Change in Control – In the event of a change in control of the Corporation,
as defined in Section 7 of the Plan, the vesting date of all outstanding Options shall be accelerated so as to cause all outstanding Options to become immediately exercisable. Following a change in control, your vested Options will be
exercisable until January 28, 2022 at which time any unexercised Options will expire and may no longer be exercised. 
 LIMITATIONS ON
EXERCISE 
 Notwithstanding any other provision herein, no Option may be exercised less than six months nor more than ten
years after the date of grant. Further, from time to time, your ability to exercise Options which otherwise would be exercisable may be restricted, if in the opinion of counsel for the Corporation, this is necessary or advisable in order to ensure
compliance with applicable federal or state law, rules or regulations. 
 ASSIGNMENT, TRANSFERABILITY, AND BENEFICIARIES 

Options may not be pledged, assigned or transferred except that Options may be transferred by will or by the laws of descent and
distribution or you may provide that, upon your death, the Options are to be transferred to a beneficiary or beneficiaries that you designate. To designate a beneficiary or beneficiaries, please complete the Beneficiary Designation located at
http://www.benefitaccess.com and return an original executed copy to the Vice President of Total Rewards and Performance Management (Mail Point 123). 
 During your lifetime, only you may exercise your Options. In the event of your death or disability, your Options may be exercised by a properly designated beneficiary or beneficiaries or your guardian or
authorized representative, as applicable. If at your death, a completed beneficiary designation form is not on file at the office of the Vice President of Total Rewards and Performance Management (or if your beneficiary predeceases you), your
Options may be exercised by your estate. 
 TAX WITHHOLDING 
 When you exercise an Option, the Corporation will withhold applicable taxes as required by law. The Committee currently allows you to pay the withholding taxes in cash, by tendering Stock or through a
combination of Stock and cash. No fractional shares of Stock may be tendered in payment. The Committee retains the discretion to, at any time, limit the method of payment to cash. Unlike payment of the exercise price of the Options, if you elect to
pay withholding taxes with Stock, you need not have owned the shares tendered for at least six months. Payment must be made at the time of exercise. To the extent that cash is not tendered, the Corporation will retain from the shares of Stock that
you would otherwise receive upon exercise of the Option that number of shares sufficient to satisfy the withholding obligation. If Stock is tendered or is deemed to have been tendered, it will be valued at its Fair Market Value. 

 Grant Date: January 30, 2012 
 Page 5 
  

 Withholding will be at the minimum rate prescribed by law. Therefore, you may owe taxes
relating to the exercise in addition to the amount withheld by the Corporation. If you desire, you may request that tax be withheld at greater than the minimum rate. 
 AMENDMENT AND TERMINATION OF THE PLAN OR AWARDS 
 As provided in
Section 9 of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement.
Notwithstanding Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award
Agreement. This Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Grant Date: January 30, 2012 
 Page 6 
  

 Assuming prompt and proper acknowledgment of this Award Agreement as described, this
Award will be effective as of the Award Date. 
 If you do not personally acknowledge acceptance of your award by executing this
Award Agreement on or before May 31, 2012, it will not be effective, you will not be able to exercise the Options and you will forfeit the Options granted hereunder. 
 By accepting this Award Agreement electronically, you consent to electronic delivery of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent
can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address noted above. 

POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 For the
purpose of calculating the expiration date of the Options, all Options will be deemed to expire on January 28, 2022 at the close of trading in Lockheed Martin Corporation common stock on the New York Stock Exchange (or, if the security is not
so listed or if the principal market on which it is traded is not the New York Stock Exchange, such other reporting system as shall be selected by the Committee). 
 If you are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation.

 Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or
guarantee that any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. The value of the Options awarded to you will
not be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. 

 Grant Date: January 30, 2012 
 Page 7 
  

 Transactions involving Options or Stock exchanged for Options delivered under this Award
Agreement are subject to the securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to
additional restrictions. The Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or Options. 

 Grant Date: January 30, 2012 
 Page 8 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	 Sincerely,

	
	 David Filomeo

	(On behalf of the Management Development and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
			
	  
	  		  	  

	Signature	  		  	Date
			
	  
	  		  	  

	Print Name	  		  	Employee ID

 Grant Date: January 30, 2012 
 Page 9 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (Stock Option Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with a Grant Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of stock options to me under the Award Agreement (the “Options”) pursuant to the Lockheed Martin Corporation 2011
Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the Options, I agree as follows: 

1. Protective Covenants 
 (a) Protection of Proprietary Information, including Trade Secrets and Confidential Information – Except to the extent required by law, following my Termination Date, and in conformance with
the provisions of the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.) and the California Unfair Competition Law (Cal. Business and Professional Code § 17220 et seq.), I will have a continuing
obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or Proprietary Information” (as defined below) of the
Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the terms of such agreements. I will not use or disclose or
allow the use or disclosure by others to any person or entity, for the purpose or effect of competing unfairly with the Corporation, of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was
responsible for creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any
proprietary or confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the
Corporation for assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the
property of the Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to
information that a person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by
third parties or if used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not
limited to: 
  

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

 Grant Date: January 30, 2012 
 Page 10 
  

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

 

	 	(iii)	any information protected by the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.). 

(b) Non-Solicit - Without the express written consent of the Chief Executive Officer of the Corporation,
during the two-year period following the Termination Date, I will not induce or attempt to induce any person who is an employee of the Corporation to perform work or services for any entity other than the Corporation. This provision does not prevent
the hiring of such persons so long as they are not induced to be one employed in violation of this provision. 
 (c) No
disparagement – Following the Termination Date, I will not make any statements, whether verbal or written, that disparage or reasonably may be interpreted to disparage the Corporation or its stockholders, directors, officers, employees,
agents, attorneys, representatives, technology, products or services with respect to any matter whatsoever. 
 (d)
Cooperation in Litigation and Investigations - Following the Termination Date, I will, to the extent reasonably requested, cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution
proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates is a party or is required or requested to provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could
be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision of this PECA, nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation
or to give truthful testimony in court. 
 2. Consideration and Acknowledgement. I acknowledge and agree that the
benefits and compensation opportunities being made available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the
Corporation and that the grant of the Options is expressly made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be

 Grant Date: January 30, 2012 
 Page 11 
  

 
effective and are fair and reasonable in light of the value of the benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree
that as a result of the high level executive and management positions I hold with the Corporation and the access to and extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these
restrictions are reasonably required for the protection of the Corporation’s legitimate business interests. 
 3.
Remedies For Breach of Section 1; Additional Remedies of Clawback and Recoupment. 
 (a) If I become (or currently
am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event
any of the following occur: 
  

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

  

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

  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have exercised any of the
Options and continue to own the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, the shares of Common Stock so acquired upon exercise; (ii) to the extent I have exercised any of the Options and no
longer own 

 Grant Date: January 30, 2012 
 Page 12 
  

 
the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, cash in an amount equal to the fair market value of such shares on the date of the event set forth
in Section 3(a) (which, unless otherwise determined by the Management Development and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally reported by
the New York Stock Exchange on such date), and (iii) to the extent I have not exercised the Options fully, all of my remaining rights, title or interest in the Options. 
 4. Injunctive Relief. I acknowledge that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of
Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under
Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security.

 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be
enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such
deletion to apply only with respect to the operation of this provision in the particular jurisdiction in which such adjudication is made. 
 6. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA
constitute the entire agreement governing the terms of the award of the Options to me. 
 (b) This PECA shall be governed by
Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both
parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 

(c) This PECA shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without
my consent. 
 (d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by
implication or otherwise, affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies
that may be adopted from time to time or applicable law or regulation. 
 This PECA is effective as of the acceptance by me
of the award of Options under the Award Agreement and is not contingent on the vesting of the Options. 

 Grant Date: January 30, 2012 
 Page 13 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 Stock Option CA PECA SVPHR (nonperformance) 

Grant Date: January 30, 2012 
 THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT
HAVE BEEN REGISTERED UNDER 
 THE SECURITIES ACT OF 1933 
 Dear Optionee: 
 The Management Development and Compensation Committee (the
“Committee”) of Lockheed Martin Corporation’s Board of Directors has awarded to you options to purchase shares of Lockheed Martin Common Stock (“Stock”) under the Lockheed Martin Corporation 2011 Incentive Performance Award
Plan (the “Plan”) and any rules and procedures adopted by the Committee. 
 This letter constitutes the Award
Agreement for your Options and sets forth some of the terms and conditions of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which
the Plan document and this Award Agreement are a part. In the event of a conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 

The term “Options” as used in this Award Agreement refers only to the nonqualified stock options awarded to you under this
Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 
 Your
Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance
Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award Date. Acceptance
of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A (“Post-Employment Conduct
Agreement”) and Exhibit B (“Stock Ownership Requirements”). 
 If you do not acknowledge your acceptance of this
Award Agreement on or before May 31, 2012, this Award will be forfeited. 

 Grant Date: January 30, 2012 
 Page 2 
  

 EXERCISE PRICE 
 The exercise price of the Options granted hereunder is $        per Option. Under certain circumstances set forth in the Plan and this Award Agreement, this
exercise price may be subject to adjustment. 
 The Committee currently allows the exercise price of an Option to be paid in
cash, by the tender of Stock or through a combination of Stock and cash. No fractional shares of Stock may be tendered in payment, nor will fractional shares be issued. The Committee retains the discretion, at any time, to limit the method of
payment to cash. If you elect to pay with Stock, you must have owned the shares tendered for at least six months. If Stock is tendered, it will be valued at its Fair Market Value on the date of tender. 

VESTING, EXPIRATION, AND FORFEITURE 
 General Rule - An Option is subject to forfeiture and may not be exercised until it has vested. In addition, an Option may not be exercised after its expiration or forfeiture. Subject to certain
special rules discussed below, you must remain in the employ of the Corporation until the applicable date of vesting. The vesting schedule for your Options is as follows: 
 First Vesting Date: January 30, 2013 – One-Third 
 Second Vesting Date:
January 30, 2014 – One-Third 
 Third Vesting Date: January 30, 2015 – One-Third 

If the number of Options granted cannot be evenly divided by three into whole shares, the fractional shares will vest on the Third
Vesting Date. If you are not continuously employed by the Corporation from the Grant Date until the date on which an Option vests, that Option is forfeited. 
 Vested Options, except as otherwise provided in this letter, or in the Plan, or as may be restricted by law, may be exercised for a period ending on January 28, 2022. Options not exercised by that
date will be forfeited. 
 You should make every effort to keep the Vice President of Total Rewards and Performance Management
informed of your current address so that we may communicate with you about your Options and their current status. The Corporation cannot exercise the Options for you, and so you must pay close attention to their terms and any impending expiration.

 SPECIAL RULES AS TO VESTING, FORFEITURE AND EXPIRATION 
 Retirement or Layoff - If you retire or are laid off prior to the Third Vesting Date, you will forfeit any Options that have not vested on or prior to the effective day of your retirement or layoff
in accordance with the general rule set forth above under the title “Vesting, Expiration and Forfeiture,” requiring continuous employment. Your vested Options will be exercisable until January 28, 2022 at which time any unexercised
Options will expire and may no longer be exercised. 

 Grant Date: January 30, 2012 
 Page 3 
  

 For purposes of this provision, the term “retirement” means retirement from
service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans, termination following attainment of
(i) age 55 and five years of service, or (ii) age 65. 
 Death or Disability - Your Options will immediately
vest and no longer be subject to the continuing employment requirement if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

Your vested Options will expire at the end of their remaining term on January 28, 2022, at which time any unexercised Options will
expire and may no longer be exercised. In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or May 31, 2012, whichever is earlier), you will forfeit all of your Options granted hereunder.

 Resignation or Termination for Cause - If you resign or your employment otherwise terminates, whether voluntarily or
by action of the Corporation, and in the latter case whether with or without “cause,” unvested Options will be forfeited upon your termination. Vested Options will expire at the end of their remaining term or 30 calendar days following
your resignation or termination, whichever is shorter. 
 Divestiture - If the Corporation divests (as defined below) all
or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or its subsidiaries and transfer of such employment to the other party to the divestiture, the
special rules in this paragraph will apply. Following a divestiture, you will continue to vest in your unvested Options as though you had remained in the employ of the Corporation. Your vested Options will be exercisable until a revised expiration
date which is the first to occur of (i) the fifth anniversary of the effective date of the divestiture; or (ii) the original expiration date (“Revised Expiration Date”). If you die following divestiture but prior to the Revised
Expiration Date, all unvested Options will immediately vest as of the date of death and be exercisable by your beneficiary until the Revised Expiration Date. For the purposes of this provision, the term “divestiture” shall mean a
transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership, joint venture or other business entity of which less than 50% of the voting stock or other equity interests
(in the case of entities other than corporations) is owned or controlled directly or indirectly, by the Corporation, one or more of the Corporation’s subsidiaries or by a combination thereof. 

 Grant Date: January 30, 2012 
 Page 4 
  

 Change in Control – In the event of a change in control of the Corporation,
as defined in Section 7 of the Plan, the vesting date of all outstanding Options shall be accelerated so as to cause all outstanding Options to become immediately exercisable. Following a change in control, your vested Options will be
exercisable until January 28, 2022 at which time any unexercised Options will expire and may no longer be exercised. 
 LIMITATIONS ON
EXERCISE 
 Notwithstanding any other provision herein, no Option may be exercised less than six months nor more than ten
years after the date of grant. Further, from time to time, your ability to exercise Options which otherwise would be exercisable may be restricted, if in the opinion of counsel for the Corporation, this is necessary or advisable in order to ensure
compliance with applicable federal or state law, rules or regulations. 
 ASSIGNMENT, TRANSFERABILITY, AND BENEFICIARIES 

Options may not be pledged, assigned or transferred except that Options may be transferred by will or by the laws of descent and
distribution or you may provide that, upon your death, the Options are to be transferred to a beneficiary or beneficiaries that you designate. To designate a beneficiary or beneficiaries, please complete the Beneficiary Designation located at
http://www.benefitaccess.com and return an original executed copy to the Vice President of Total Rewards and Performance Management (Mail Point 123). 
 During your lifetime, only you may exercise your Options. In the event of your death or disability, your Options may be exercised by a properly designated beneficiary or beneficiaries or your guardian or
authorized representative, as applicable. If at your death, a completed beneficiary designation form is not on file at the office of the Vice President of Total Rewards and Performance Management (or if your beneficiary predeceases you), your
Options may be exercised by your estate. 
 TAX WITHHOLDING 
 When you exercise an Option, the Corporation will withhold applicable taxes as required by law. The Committee currently allows you to pay the withholding taxes in cash, by tendering Stock or through a
combination of Stock and cash. No fractional shares of Stock may be tendered in payment. The Committee retains the discretion to, at any time, limit the method of payment to cash. Unlike payment of the exercise price of the Options, if you elect to
pay withholding taxes with Stock, you need not have owned the shares tendered for at least six months. Payment must be made at the time of exercise. To the extent that cash is not tendered, the Corporation will retain from the shares of Stock that
you would otherwise receive upon exercise of the Option that number of shares sufficient to satisfy the withholding obligation. If Stock is tendered or is deemed to have been tendered, it will be valued at its Fair Market Value. 

 Grant Date: January 30, 2012 
 Page 5 
  

 Withholding will be at the minimum rate prescribed by law. Therefore, you may owe taxes
relating to the exercise in addition to the amount withheld by the Corporation. If you desire, you may request that tax be withheld at greater than the minimum rate. 
 AMENDMENT AND TERMINATION OF THE PLAN OR AWARDS 
 As provided in
Section 9 of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement.
Notwithstanding Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award
Agreement. This Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Grant Date: January 30, 2012 
 Page 6 
  

 Assuming prompt and proper acknowledgment of this Award Agreement as described, this
Award will be effective as of the Award Date. 
 If you do not personally acknowledge acceptance of your award by executing this
Award Agreement on or before May 31, 2012, it will not be effective, you will not be able to exercise the Options and you will forfeit the Options granted hereunder. 
 By accepting this Award Agreement electronically, you consent to electronic delivery of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent
can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address noted above. 

POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 For the
purpose of calculating the expiration date of the Options, all Options will be deemed to expire on January 28, 2022 at the close of trading in Lockheed Martin Corporation common stock on the New York Stock Exchange (or, if the security is not
so listed or if the principal market on which it is traded is not the New York Stock Exchange, such other reporting system as shall be selected by the Committee). 
 If you are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation.

 Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or
guarantee that any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. The value of the Options awarded to you will
not be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. 

 Grant Date: January 30, 2012 
 Page 7 
  

 Transactions involving Options or Stock exchanged for Options delivered under this Award
Agreement are subject to the securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to
additional restrictions. The Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or Options. 

You have no rights as a stockholder to any securities covered by this Award Agreement until the date on which you become the holder of
record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan, the Plan document will control. 

 

	
	 Sincerely,

	
	 David Filomeo

	 (On behalf of the Management

	 Development and

	 Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

 Grant Date: January 30, 2012 
 Page 8 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (Stock Option Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with a Grant Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of stock options to me under the Award Agreement (the “Options”) pursuant to the Lockheed Martin Corporation 2011
Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the Options, I agree as follows: 

1. Protective Covenants 
 (a) Protection of Proprietary Information, including Trade Secrets and Confidential Information – Except to the extent required by law, following my Termination Date, and in conformance with
the provisions of the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.) and the California Unfair Competition Law (Cal. Business and Professional Code § 17220 et seq.), I will have
a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or Proprietary Information” (as defined below)
of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the terms of such agreements. I will not use or
disclose or allow the use or disclosure by others to any person or entity, for the purpose or effect of competing unfairly with the Corporation, of Confidential or Proprietary Information of the Corporation or others to which I had access or that I
was responsible for creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any
proprietary or confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the
Corporation for assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the
property of the Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to
information that a person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by
third parties or if used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not
limited to: 

 Grant Date: January 30, 2012 
 Page 9 
  

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

 

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

 

	 	(iii)	any information protected by the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.). 

(b) Non-Solicit - Without the express written consent of the Senior Vice President, Human Resources of the
Corporation, during the one-year period following the Termination Date, I will not induce or attempt to induce any person who is an employee of the Corporation to perform work or services for any entity other than the Corporation. This provision
does not prevent the hiring of such persons so long as they are not induced to be one employed in violation of this provision. 

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

(d) Cooperation in Litigation and Investigations - Following the Termination Date, I will, to the extent reasonably requested,
cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates is a party or is required or requested to
provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision of this PECA,
nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 
 2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made available to me under the Award Agreement are in addition to the benefits
and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the Options is 

 Grant Date: January 30, 2012 
 Page 10 
  

 
expressly made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be
effective and are fair and reasonable in light of the value of the benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and
management positions I hold with the Corporation and the access to and extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the
protection of the Corporation’s legitimate business interests. 
 3. Remedies For Breach of Section 1; Additional
Remedies of Clawback and Recoupment. 
 (a) If I become (or currently am) an Insider (as defined in the Plan) or receive a
Long-Term Incentive Performance Award, I agree, upon demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

 Grant Date: January 30, 2012 
 Page 11 
  

 (c) For purposes of this Section 3, “Benefits and Proceeds” means
(i) to the extent I have exercised any of the Options and continue to own the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, the shares of Common Stock so acquired upon exercise; (ii) to the
extent I have exercised any of the Options and no longer own the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, cash in an amount equal to the fair market value of such shares on the date of the event set
forth in Section 3(a) (which, unless otherwise determined by the Management Development and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally
reported by the New York Stock Exchange on such date), and (iii) to the extent I have not exercised the Options fully, all of my remaining rights, title or interest in the Options. 

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

6. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the Options to me. 

(b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or
challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United
States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA
shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of
my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 

 Grant Date: January 30, 2012 
 Page 12 
  

 This PECA is effective as of the acceptance by me of the award of Options under the
Award Agreement and is not contingent on the vesting of the Options. 

 Grant Date: January 30, 2012 
 Page 13 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 Stock Option PECA Attorney (nonperformance) 

Grant Date: January 30, 2012 
 THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT
HAVE BEEN REGISTERED UNDER 
 THE SECURITIES ACT OF 1933 
 Dear Optionee: 
 The Management Development and Compensation Committee (the
“Committee”) of Lockheed Martin Corporation’s Board of Directors has awarded to you options to purchase shares of Lockheed Martin Common Stock (“Stock”) under the Lockheed Martin Corporation 2011 Incentive Performance Award
Plan (the “Plan”) and any rules and procedures adopted by the Committee. 
 This letter constitutes the Award
Agreement for your Options and sets forth some of the terms and conditions of your Award under the Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which
the Plan document and this Award Agreement are a part. In the event of a conflict between this letter and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 

The term “Options” as used in this Award Agreement refers only to the nonqualified stock options awarded to you under this
Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries. 
 Your
Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance
Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award Date. Acceptance
of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A (“Post-Employment Conduct
Agreement”) and Exhibit B (“Stock Ownership Requirements”). 
 If you do not acknowledge your acceptance of this
Award Agreement on or before May 31, 2012, this Award will be forfeited. 

 Grant Date: January 30, 2012 
 Page 2 
  

 EXERCISE PRICE 
 The exercise price of the Options granted hereunder is $        per Option. Under certain circumstances set forth in the Plan and this Award Agreement, this
exercise price may be subject to adjustment. 
 The Committee currently allows the exercise price of an Option to be paid in
cash, by the tender of Stock or through a combination of Stock and cash. No fractional shares of Stock may be tendered in payment, nor will fractional shares be issued. The Committee retains the discretion, at any time, to limit the method of
payment to cash. If you elect to pay with Stock, you must have owned the shares tendered for at least six months. If Stock is tendered, it will be valued at its Fair Market Value on the date of tender. 

VESTING, EXPIRATION, AND FORFEITURE 
 General Rule - An Option is subject to forfeiture and may not be exercised until it has vested. In addition, an Option may not be exercised after its expiration or forfeiture. Subject to certain
special rules discussed below, you must remain in the employ of the Corporation until the applicable date of vesting. The vesting schedule for your Options is as follows: 
 First Vesting Date: January 30, 2013 – One-Third 
 Second Vesting Date:
January 30, 2014 – One-Third 
 Third Vesting Date: January 30, 2015 – One-Third 

If the number of Options granted cannot be evenly divided by three into whole shares, the fractional shares will vest on the Third Vesting
Date. If you are not continuously employed by the Corporation from the Grant Date until the date on which an Option vests, that Option is forfeited. 
 Vested Options, except as otherwise provided in this letter, or in the Plan, or as may be restricted by law, may be exercised for a period ending on January 28, 2022. Options not exercised by that
date will be forfeited. 
 You should make every effort to keep the Vice President of Total Rewards and Performance Management
informed of your current address so that we may communicate with you about your Options and their current status. The Corporation cannot exercise the Options for you, and so you must pay close attention to their terms and any impending expiration.

 SPECIAL RULES AS TO VESTING, FORFEITURE AND EXPIRATION 
 Retirement or Layoff - If you retire or are laid off prior to the Third Vesting Date, you will forfeit any Options that have not vested on or prior to the effective day of your retirement or layoff
in accordance with the general rule set forth above under the title “Vesting, Expiration and Forfeiture,” requiring continuous employment. Your vested Options will be exercisable until January 28, 2022 at which time any unexercised
Options will expire and may no longer be exercised. 

 Grant Date: January 30, 2012 
 Page 3 
  

 For purposes of this provision, the term “retirement” means retirement
from service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans, termination following attainment of
(i) age 55 and five years of service, or (ii) age 65.  
 Death or Disability - Your Options will
immediately vest and no longer be subject to the continuing employment requirement if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

Your vested Options will expire at the end of their remaining term on January 28, 2022, at which time any unexercised Options will
expire and may no longer be exercised. In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or May 31, 2012, whichever is earlier), you will forfeit all of your Options granted hereunder.

 Resignation or Termination for Cause - If you resign or your employment otherwise terminates, whether voluntarily or
by action of the Corporation, and in the latter case whether with or without “cause,” unvested Options will be forfeited upon your termination. Vested Options will expire at the end of their remaining term or 30 calendar days following
your resignation or termination, whichever is shorter. 
 Divestiture - If the Corporation divests (as defined below) all
or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or its subsidiaries and transfer of such employment to the other party to the divestiture, the
special rules in this paragraph will apply. Following a divestiture, you will continue to vest in your unvested Options as though you had remained in the employ of the Corporation. Your vested Options will be exercisable until a revised expiration
date which is the first to occur of (i) the fifth anniversary of the effective date of the divestiture; or (ii) the original expiration date (“Revised Expiration Date”). If you die following divestiture but prior to the Revised
Expiration Date, all unvested Options will immediately vest as of the date of death and be exercisable by your beneficiary until the Revised Expiration Date. For the purposes of this provision, the term “divestiture” shall mean a
transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership, joint venture or other business entity of which less than 50% of the voting stock or other equity interests
(in the case of entities other than corporations) is owned or controlled directly or indirectly, by the Corporation, one or more of the Corporation’s subsidiaries or by a combination thereof. 

 Grant Date: January 30, 2012 
 Page 4 
  

 Change in Control – In the event of a change in control of the Corporation,
as defined in Section 7 of the Plan, the vesting date of all outstanding Options shall be accelerated so as to cause all outstanding Options to become immediately exercisable. Following a change in control, your vested Options will be
exercisable until January 28, 2022 at which time any unexercised Options will expire and may no longer be exercised. 
 LIMITATIONS ON
EXERCISE 
 Notwithstanding any other provision herein, no Option may be exercised less than six months nor more than ten
years after the date of grant. Further, from time to time, your ability to exercise Options which otherwise would be exercisable may be restricted, if in the opinion of counsel for the Corporation, this is necessary or advisable in order to ensure
compliance with applicable federal or state law, rules or regulations. 
 ASSIGNMENT, TRANSFERABILITY, AND BENEFICIARIES 

Options may not be pledged, assigned or transferred except that Options may be transferred by will or by the laws of descent and
distribution or you may provide that, upon your death, the Options are to be transferred to a beneficiary or beneficiaries that you designate. To designate a beneficiary or beneficiaries, please complete the Beneficiary Designation located at
http://www.benefitaccess.com and return an original executed copy to the Vice President of Total Rewards and Performance Management (Mail Point 123). 
 During your lifetime, only you may exercise your Options. In the event of your death or disability, your Options may be exercised by a properly designated beneficiary or beneficiaries or your guardian or
authorized representative, as applicable. If at your death, a completed beneficiary designation form is not on file at the office of the Vice President of Total Rewards and Performance Management (or if your beneficiary predeceases you), your
Options may be exercised by your estate. 
 TAX WITHHOLDING 
 When you exercise an Option, the Corporation will withhold applicable taxes as required by law. The Committee currently allows you to pay the withholding taxes in cash, by tendering Stock or through a
combination of Stock and cash. No fractional shares of Stock may be tendered in payment. The Committee retains the discretion to, at any time, limit the method of payment to cash. Unlike payment of the exercise price of the Options, if you elect to
pay withholding taxes with Stock, you need not have owned the shares tendered for at least six months. Payment must be made at the time of exercise. To the extent that cash is not tendered, the Corporation will retain from the shares of Stock that
you would otherwise receive upon exercise of the Option that number of shares sufficient to satisfy the withholding obligation. If Stock is tendered or is deemed to have been tendered, it will be valued at its Fair Market Value. 

 Grant Date: January 30, 2012 
 Page 5 
  

 Withholding will be at the minimum rate prescribed by law. Therefore, you may owe taxes
relating to the exercise in addition to the amount withheld by the Corporation. If you desire, you may request that tax be withheld at greater than the minimum rate. 
 AMENDMENT AND TERMINATION OF THE PLAN OR AWARDS 
 As provided in
Section 9 of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement.
Notwithstanding Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award
Agreement. This Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Grant Date: January 30, 2012 
 Page 6 
  

 Assuming prompt and proper acknowledgment of this Award Agreement as described, this
Award will be effective as of the Award Date. 
 If you do not personally acknowledge acceptance of your award by executing this
Award Agreement on or before May 31, 2012, it will not be effective, you will not be able to exercise the Options and you will forfeit the Options granted hereunder. 
 By accepting this Award Agreement electronically, you consent to electronic delivery of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent
can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address noted above. 

POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to
January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

MISCELLANEOUS 
 For the
purpose of calculating the expiration date of the Options, all Options will be deemed to expire on January 28, 2022 at the close of trading in Lockheed Martin Corporation common stock on the New York Stock Exchange (or, if the security is not
so listed or if the principal market on which it is traded is not the New York Stock Exchange, such other reporting system as shall be selected by the Committee). 
 If you are on leave of absence, for the purposes of the Plan, you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation.

 Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or
guarantee that any future awards will be made to you under the Plan. In addition, nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. The value of the Options awarded to you will
not be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. 

 Grant Date: January 30, 2012 
 Page 7 
  

 Transactions involving Options or Stock exchanged for Options delivered under this Award
Agreement are subject to the securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to
additional restrictions. The Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or Options. 

 Grant Date: January 30, 2012 
 Page 8 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	Sincerely,
	
	David Filomeo
	(On behalf of the Management Development and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

 Grant Date: January 30, 2012 
 Page 9 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (Stock Option Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with a Grant Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of stock options to me under the Award Agreement (the “Options”) pursuant to the Lockheed Martin Corporation 2011
Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the Options, I agree as follows: 

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

 

	 	(i)	Represent any client adversely to the Corporation; 

  

	 	(ii)	Reveal to any third party any information learned by me during the course of my employment with the Corporation except for information that is or becomes generally
known; 

  

	 	(iii)	Encourage or solicit any present or future agents or employees of the Corporation to terminate their employment for the purpose of competing with the Corporation; or

  

	 	(iv)	Whether as a lawyer or non-lawyer, accept a position (whether as agent, employer, part or sole owner or in any other capacity) with any person or entity whose interests
are adverse to the Corporation’s interests if that adverse position is related in any way to my present or past work with the Corporation. 

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

 Grant Date: January 30, 2012 
 Page 10 
  

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

2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made
available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the Options is
expressly made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value
of the benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to
and extensive knowledge of the Corporation’s confidential or proprietary information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, to the
extent permitted by applicable law, including but not limited to any applicable rules governing attorney conduct, that upon demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined
below) in the event any of the following occur: 
  

	 	(i)	I breach any of the covenants or agreements in Section 1 (and in the case of 1(a), the breach occurs prior to the second anniversary of my Termination Date);

  

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

 Grant Date: January 30, 2012 
 Page 11 
  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have exercised any of the
Options and continue to own the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, the shares of Common Stock so acquired upon exercise; (ii) to the extent I have exercised any of the Options and no
longer own the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless
otherwise determined by the Management Development and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally reported by the New York Stock Exchange on such
date), and (iii) to the extent I have not exercised the Options fully, all of my remaining rights, title or interest in the Options. 
 4. Injunctive Relief. I acknowledge that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of
Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under
Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security.

 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be
enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such
deletion to apply only with respect to the operation of this provision in the particular jurisdiction in which such adjudication is made. 

 Grant Date: January 30, 2012 
 Page 12 
  

 6. Definitions. Capitalized terms not defined in this PECA have the meaning given
to them in the Plan, as applicable. 
 7. Miscellaneous. 

(a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the Options to me.

 (b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any
enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of
Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 

(d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise,
affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from
time to time or applicable law or regulation. 
 This PECA is effective as of the acceptance by me of the award of Options
under the Award Agreement and is not contingent on the vesting of the Options. 

 Grant Date: January 30, 2012 
 Page 13 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	Chief Executive Officer	  	6 times
	President/Chief Operating Officer	  	5 times
	Chief Financial Officer	  	4 times
	Business Area Executive Vice Presidents	  	3 times
	Corporate Senior Vice Presidents	  	2 times
	Other Elected Officers	  	2 times
	All Other Vice Presidents	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 Stock Option PECA RIS MD&CC (performance) 
  

 Grant Date: January 30, 2012 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER 
 THE SECURITIES ACT OF 1933

 Dear Mr. Stevens: 
 The Management Development and Compensation Committee (the “Committee”) of Lockheed Martin Corporation’s Board of Directors has awarded to you options to purchase shares of Lockheed Martin
Common Stock (“Stock”) under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (the “Plan”) and any rules and procedures adopted by the Committee. 

This letter constitutes the Award Agreement for your Options and sets forth some of the terms and conditions of your Award under the
Plan, as determined by the Committee. Additional terms and conditions are contained in the Plan and in the Prospectus relating to the Plan of which the Plan document and this Award Agreement are a part. In the event of a conflict between this letter
and the Plan, the Plan document will control. The Prospectus is available at http://www.benefitaccess.com. 
 The term
“Options” as used in this Award Agreement refers only to the nonqualified stock options awarded to you under this Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries.

 Your Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by completing the
electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and
proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with
respect to this Award and your agreement to be bound by the restrictions contained in Exhibit A (“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 

If you do not acknowledge your acceptance of this Award Agreement on or before May 31, 2012, this Award will be forfeited.

 Grant Date: January 30, 2012 
 Page 2 
  

 EXERCISE PRICE 
 The exercise price of the Options granted hereunder is $         per Option. Under certain circumstances set forth in the Plan and this Award Agreement, this
exercise price may be subject to adjustment. 
 The Committee currently allows the exercise price of an Option to be paid in
cash, by the tender of Stock or through a combination of Stock and cash. No fractional shares of Stock may be tendered in payment, nor will fractional shares be issued. The Committee retains the discretion, at any time, to limit the method of
payment to cash. If you elect to pay with Stock, you must have owned the shares tendered for at least six months. If Stock is tendered, it will be valued at its Fair Market Value on the date of tender. 

VESTING, EXPIRATION, AND FORFEITURE 
 General Rule - An Option is subject to forfeiture and may not be exercised until it has vested. In addition, an Option may not be exercised after its expiration or forfeiture. 

Performance Goals – The Options granted pursuant to this Award Agreement are subject to satisfaction of two performance goals
as follows: 
 1. 50% of the Options granted under this Award Agreement will be forfeited if the Corporation does not generate
$3.8 billion in cash from operations in 2012 disregarding discretionary contributions to the Corporation’s defined benefit pension plans that exceed the contributions forecasted in the Corporation’s 2012 Long Range Plan and any tax
payments or tax benefits associated with divestitures in computing cash from operations, other than tax payments or tax benefits that were included in the Corporation’s 2012 Long Range Plan. Cash shall be determined by the Committee based upon
the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the date or period for which Cash Flow is being determined, the Committee shall determine
Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash provided by operating activities as reported in its audited consolidated statement of cash flows, in either case as modified by this
paragraph; and 
 2. 50% of the Options granted under this Award Agreement will be forfeited if the Corporation’s return on
invested capital (“ROIC”) for 2012 is not at least 14.5%. ROIC is defined as net earnings (excluding any charge or addition to net earnings resulting solely from adjustment of deferred tax assets and liabilities for the effect of enactment
of corporate tax reform and related legislation that adjusts United States federal corporate income tax rates) plus after-tax interest expense divided by average invested capital (stockholders’ equity plus debt) after adjusting
stockholders’ equity by adding back adjustments related to the Corporation’s post-retirement benefit plans. In addition, if an 

 Grant Date: January 30, 2012 
 Page 3 
  

 
acquisition with a purchase price in excess of $1.0 billion is completed, and the acquisition is financed in whole or in part by the issuance of new debt, the ROIC calculation for 2012 will be
adjusted as follows: (i) debt will be adjusted to exclude the amount of new debt issued; (ii) after-tax interest expense will be adjusted to exclude interest expense on the new debt issued; and (iii) net earnings will be adjusted to
exclude the net earnings from the acquired company. Stockholders’ equity shall be determined by the Committee in accordance with generally accepted accounting principles in the United States and shall be based on the comparable numbers reported
in the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the date or period for which ROIC is being determined, the Committee shall make its determination in a manner consistent
with the historical practices used by the Corporation in determining the components of ROIC and post-retirement plan amounts recorded in the Corporation’s Statement of Stockholders’ Equity for purposes of reporting those items on its
audited financial statements, as modified by this paragraph. 
 Continued Employment Requirement. Subject to certain
special rules discussed below, you must remain in the employ of the Corporation until the applicable date of vesting. The vesting schedule for any Options not forfeited as of December 31, 2012 due to failure to satisfy the Performance Goals in
the section entitled “Performance Goals” is as follows: 
 First Vesting Date: January 30, 2013 – One-Third

 Second Vesting Date: January 30, 2014 – One-Third 

Third Vesting Date: January 30, 2015 – One-Third 
 If the number of Options granted cannot be evenly divided by three into whole shares, the fractional shares will vest on the Third Vesting Date. If you are not continuously employed by the Corporation
from the Grant Date until the date on which an Option vests, that Option is forfeited. 
 Vested Options, except as otherwise
provided in this letter, or in the Plan, or as may be restricted by law, may be exercised for a period ending on January 28, 2022. Options not exercised by that date will be forfeited. 

You should make every effort to keep the Vice President of Total Rewards and Performance Management informed of your current address so
that we may communicate with you about your Options and their current status. The Corporation cannot exercise the Options for you, and so you must pay close attention to their terms and any impending expiration. 

SPECIAL RULES AS TO VESTING, FORFEITURE AND EXPIRATION 
 Retirement or Layoff - If you retire or are laid off prior to the Third Vesting Date, you will forfeit any Options that have not vested on or prior to the effective day of your retirement or layoff
as set forth above in the “Continued Employment Requirement” paragraph under the title “Vesting, Expiration and Forfeiture.” Your vested Options will be exercisable until January 28, 2022 at which time any unexercised
Options will expire and may no longer be exercised. 

 Grant Date: January 30, 2012 
 Page 4 
  

 For purposes of this provision, the term “retirement” means retirement from
service under the terms of the Corporation’s defined benefit pension plan in which you are a participant or, if you do not participate in one of the Corporation’s defined benefit pension plans, termination following attainment of
(i) age 55 and five years of service, or (ii) age 65. 
 Death or Disability - Your outstanding unvested
Options will immediately vest and no longer be subject to the continuing employment if: 
  

	 	(i)	you die while still employed by the Corporation; or 

  

	 	(ii)	you terminate employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Corporation’s long-term disability plan in
which you are enrolled (or, if you are not a participant of the Corporation’s long-term disability plan, when you would have been eligible for benefits using the standards set forth in that plan). 

Your vested Options will expire at the end of their remaining term on January 28, 2022, at which time any unexercised Options will
expire and may no longer be exercised. In the event that you die and have not properly acknowledged acceptance of the Award prior to your death (or May 31, 2012, whichever is earlier), you will forfeit all of your Options granted hereunder.

 Resignation or Termination for Cause - If you resign or your employment otherwise terminates, whether voluntarily or
by action of the Corporation, and in the latter case whether with or without “cause,” unvested Options will be forfeited upon your termination. Vested Options will expire at the end of their remaining term or 30 calendar days following
your resignation or termination, whichever is shorter. 
 Divestiture - If the Corporation divests (as defined below) all
or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation or its subsidiaries and transfer of such employment to the other party to the divestiture, the
special rules in this paragraph will apply. Following a divestiture, you will continue to vest in your outstanding unvested Options as though you had remained in the employ of the Corporation. Your vested Options will be exercisable until a revised
expiration date which is the first to occur of (i) the fifth anniversary of the effective date of the divestiture; or (ii) the original expiration date (“Revised Expiration Date”). If you die following divestiture but prior to
the Revised Expiration Date, all outstanding unvested Options will immediately vest as of the date of death and be exercisable by your beneficiary until the Revised Expiration Date. For the purposes of this provision, the term
“divestiture” shall mean a transaction which results in the transfer of control of the business operation divested to any person, corporation, association, partnership, joint venture or other business entity of which less than 50% of the
voting stock or other equity interests (in the case of entities other than corporations) is owned or controlled directly or indirectly, by the Corporation, one or more of the Corporation’s subsidiaries or by a combination thereof. 

 Grant Date: January 30, 2012 
 Page 5 
  

 Change in Control – In the event of a change in control of the Corporation,
as defined in Section 7 of the Plan, the vesting date of all outstanding Options shall be accelerated so as to cause all outstanding Options to become immediately exercisable. Following a change in control, your vested Options will be
exercisable until January 28, 2022 at which time any unexercised Options will expire and may no longer be exercised. 
 LIMITATIONS ON
EXERCISE 
 Notwithstanding any other provision herein, no Option may be exercised less than six months nor more than ten
years after the date of grant. Further, from time to time, your ability to exercise Options which otherwise would be exercisable may be restricted, if in the opinion of counsel for the Corporation, this is necessary or advisable in order to ensure
compliance with applicable federal or state law, rules or regulations. 
 ASSIGNMENT, TRANSFERABILITY, AND BENEFICIARIES 

Options may not be pledged, assigned or transferred except that Options may be transferred by will or by the laws of descent and
distribution or you may provide that, upon your death, the Options are to be transferred to a beneficiary or beneficiaries that you designate. To designate a beneficiary or beneficiaries, please complete the Beneficiary Designation located at
http://www.benefitaccess.com and return an original executed copy to the Vice President of Total Rewards and Performance Management (Mail Point 123). 
 During your lifetime, only you may exercise your Options. In the event of your death or disability, your Options may be exercised by a properly designated beneficiary or beneficiaries or your guardian or
authorized representative, as applicable. If at your death, a completed beneficiary designation form is not on file at the office of the Vice President of Total Rewards and Performance Management (or if your beneficiary predeceases you), your
Options may be exercised by your estate. 
 TAX WITHHOLDING 
 When you exercise an Option, the Corporation will withhold applicable taxes as required by law. The Committee currently allows you to pay the withholding taxes in cash, by tendering Stock or through a
combination of Stock and cash. No fractional shares of Stock may be tendered in payment. The Committee retains the discretion to, at any time, limit the method of payment to cash. Unlike payment of the exercise price of the Options, if you elect to
pay withholding taxes with Stock, you need not have owned the shares tendered for at least six months. Payment must be made at the time of exercise. To the extent that cash is not tendered, the Corporation will retain from the shares of Stock that
you would otherwise receive upon exercise of the Option that number of shares sufficient to satisfy the withholding obligation. If Stock is tendered or is deemed to have been tendered, it will be valued at its Fair Market Value. 

 Grant Date: January 30, 2012 
 Page 6 
  

 Withholding will be at the minimum rate prescribed by law. Therefore, you may owe taxes
relating to the exercise in addition to the amount withheld by the Corporation. If you desire, you may request that tax be withheld at greater than the minimum rate. 
 AMENDMENT AND TERMINATION OF THE PLAN OR AWARDS 
 As provided in
Section 9 of the Plan, subject to certain limitations contained within Section 9, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time alter or amend this Award Agreement.
Notwithstanding Section 9 of the Plan, no such amendment, suspension or discontinuance of the Plan or alteration or amendment of Award Agreements will, except with your express written consent, adversely affect your rights under this Award
Agreement. This Award Agreement shall not be amended or interpreted in a manner that is reasonably believed to result in the imposition of tax under Code section 409A. 
 ACCEPTANCE OF AWARD 
 No Award is enforceable until you properly acknowledge
your acceptance by completing the electronic receipt or returning an executed copy of this Award Agreement to the Vice President of Total Rewards and Performance Management as soon as possible but in no event later than May 31, 2012. Acceptance
of this Award Agreement must be made only by you personally or by a person acting pursuant to a power of attorney in the event of your inability to acknowledge your acceptance due to your disability or deployment in the Armed Forces (and not by your
estate, your spouse or any other person) and constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award. The Committee has authorized electronic means for the delivery and acceptance of this
Award Agreement. If you desire to accept this Award, you must acknowledge your acceptance and receipt of this Award Agreement, either electronically or by signing and returning a copy of this letter on or before May 31, 2012 as follows:

  

	 	•	 	 Electronic Acceptance: Go to http://www.benefitaccess.com 

 

	 	•	 	 By Mail: Mr. David Filomeo, Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801
Rockledge Drive, Bethesda MD 20817 

 Grant Date: January 30, 2012 
 Page 7 
  

 Assuming prompt and proper acknowledgment of this Award Agreement as described, this
Award will be effective as of the Award Date. 
 If you do not personally acknowledge acceptance of your award by executing this
Award Agreement on or before May 31, 2012, it will not be effective, you will not be able to exercise the Options and you will forfeit the Options granted hereunder. 
 By accepting this Award Agreement electronically, you consent to electronic delivery of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com). This consent
can only be withdrawn by written notice to the Vice President of Total Rewards and Performance Management at the address noted above. 

POST-EMPLOYMENT COVENANTS 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement. 
 STOCK OWNERSHIP REQUIREMENTS 

By accepting this Award Agreement through the process described above, you acknowledge receipt of the Stock Ownership Requirements
(“Ownership Requirements”) attached as Exhibit B and agree to comply with such Ownership Requirements. 
 MISCELLANEOUS

 For the purpose of calculating the expiration date of the Options, all Options will be deemed to expire on
January 28, 2022 at the close of trading in Lockheed Martin Corporation common stock on the New York Stock Exchange (or, if the security is not so listed or if the principal market on which it is traded is not the New York Stock Exchange, such
other reporting system as shall be selected by the Committee). 
 If you are on leave of absence, for the purposes of the Plan,
you will be considered to still be in the employ of the Corporation unless otherwise provided in an agreement between you and the Corporation. 
 Nothing contained in this Award Agreement shall confer upon you any right of continued employment by the Corporation or guarantee that any future awards will be made to you under the Plan. In addition,
nothing in this Award Agreement limits in any way the right of the Corporation to terminate your employment at any time. The value of the Options awarded to you will not be taken into account for other benefits offered by the Corporation, including
but not limited to pension benefits. 
 Transactions involving Options or Stock exchanged for Options delivered under this Award
Agreement are subject to the securities laws and CPS 722. Among other things, CPS 722 prohibits 

 Grant Date: January 30, 2012 
 Page 8 
  

 
employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to additional restrictions. The Corporation
recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving Stock or Options. 

 Grant Date: January 30, 2012 
 Page 9 
  

 You have no rights as a stockholder to any securities covered by this Award Agreement
until the date on which you become the holder of record of such securities. Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Plan. In the event of a conflict between this Award Agreement and the Plan,
the Plan document will control. 
  

	
	Sincerely,
	
	David Filomeo
	(On behalf of the Management Development and Compensation Committee)

 (For written acceptance, please complete, sign and return by mail.) 

Acknowledged by: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print Name
	  		  	  
 Employee
ID

 Grant Date: January 30, 2012 
 Page 10 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (Stock Option Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with a Grant Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of stock options to me under the Award Agreement (the “Options”) pursuant to the Lockheed Martin Corporation 2011
Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the Options, I agree as follows: 

1. Restrictions Following Termination of Employment. 
 (a) Covenant Not To Compete - Without the express written consent of the Management Development and Compensation Committee of the Board of Directors of the Corporation, during the two-year period
following the date of my termination of employment (the “Termination Date”) with the Corporation, I will not, directly or indirectly, be employed by, provide services to, or advise a “Restricted Company” (as defined in
Section 6 below), whether as an employee, advisor, director, officer, partner or consultant, or in any other position, function or role that, in any such case, 
  

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

  

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

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

 Grant Date: January 30, 2012 
 Page 11 
  

 (c) Protection of Proprietary Information – Except to the extent required
by law, following my Termination Date, I will have a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or
Proprietary Information” (as defined below) of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the
terms of such agreements. I will not use or disclose or allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was responsible for
creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or
confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Corporation for
assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the property of the
Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to information that a
person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if
used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

 

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

 

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

 Grant Date: January 30, 2012 
 Page 12 
  

 (d) No disparagement – Following the Termination Date, I will not make any
statements, whether verbal or written, that disparage or reasonably may be interpreted to disparage the Corporation or its stockholders, directors, officers, employees, agents, attorneys, representatives, technology, products or services with
respect to any matter whatsoever. 
 (e) Cooperation in Litigation and Investigations - Following the Termination Date,
I will, to the extent reasonably requested, cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates
is a party or is required or requested to provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation.
Notwithstanding any other provision of this PECA, nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 

2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made
available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the Options is
expressly made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value
of the benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to
and extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon
demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

 Grant Date: January 30, 2012 
 Page 13 
  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not
be the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have exercised any of the
Options and continue to own the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, the shares of Common Stock so acquired upon exercise; (ii) to the extent I have exercised any of the Options and no
longer own the shares of Common Stock of the Corporation issued or issuable upon exercise of the Options, cash in an amount equal to the fair market value of such shares on the date of the event set forth in Section 3(a) (which, unless
otherwise determined by the Management Development and Compensation Committee of the Board of Directors of the Corporation, shall be equal to the closing price of the shares of Common Stock as finally reported by the New York Stock Exchange on such
date), and (iii) to the extent I have not exercised the Options fully, all of my remaining rights, title or interest in the Options. 
 4. Injunctive Relief. I acknowledge that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of
Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under
Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security.

 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be
enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such
deletion to apply only with respect to the operation of this provision in the particular jurisdiction in which such adjudication is made. 

 Grant Date: January 30, 2012 
 Page 14 
  

 6. Definitions. Capitalized terms not defined in this PECA have the meaning given
to them in the Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below: 
 (a)
“Restricted Company” means The Boeing Company, General Dynamics Corporation, Northrop Grumman Corporation, the Raytheon Company, United Technologies Corporation, Honeywell International Inc., BAE Systems Inc., L-3 Communications
Corporation, the Harris Corporation, Thales, EADS North America and (i) any entity directly or indirectly controlling, controlled by, or under common control with any of the foregoing, and (ii) any successor to all or part of the business
of any of the foregoing as a result of a merger, reorganization, consolidation, spin-off, split-up, acquisition, divestiture, or similar transaction. 
 (b) “Competitive Products or Services” means products or services that compete with, or are an alternative or potential alternative to, products sold or services provided by a subsidiary,
business area, division or operating unit or business of the Corporation as of the Termination Date and at any time within the two-year period ending on the Termination Date; provided, that, (i) if I had direct responsibility for the business
of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services includes the
products so sold or the services so provided during that two-year period by the subsidiary, business area, division or operating unit of the Corporation for which I had responsibility, and (ii) if I did not have direct responsibility for the
business of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services
includes the products so sold or the services so provided by a subsidiary, business area, division or operating unit of the Corporation for which I had access (or was required or permitted such access in the performance of my duties or
responsibilities with the Corporation) to Confidential or Proprietary Information of the Corporation at any time during the two-year period ending on the Termination Date. 
 7. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA
constitute the entire agreement governing the terms of the award of the Options to me. 
 (b) This PECA shall be governed by
Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of
Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 

 Grant Date: January 30, 2012 
 Page 15 
  

 (c) This PECA shall inure to the benefit of the Corporation’s successors and
assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part
following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and
me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 

This PECA is effective as of the acceptance by me of the award of Options under the Award Agreement and is not contingent on the
vesting of the Options. 

 Grant Date: January 30, 2012 
 Page 16 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 LTIP PECA CEO (performance) 
 Award Date: January 30, 2012 
  
 

 
 Lockheed Martin Corporation 
 6801 Rockledge Drive, Bethesda, MD 20817 
 Telephone 301-897-6000 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER THE 
 SECURITIES ACT OF 1933

 «Name» 

«Street» 
 «City»,
«State» «Zip» 
  

	 	Re:	Lockheed Martin Corporation 2011 Incentive Performance Award Plan: Long-Term Incentive Performance Award (2012-2014 Performance Period) 

 Dear «Call_By_Name»: 
 On behalf of the Management Development and Compensation Committee (the “Committee”) of the Board of Directors of Lockheed Martin Corporation, I am pleased to tell you that you have been granted
a Long-Term Incentive Performance Award under the Corporation’s 2011 Incentive Performance Award Plan (the “Plan”). The purpose of this letter is to serve as the Award Agreement under such Plan and to set forth your Target Award as
well as the terms and conditions to the payment of your Target Award. Additional terms and conditions are set forth in the Plan and in the Prospectus relating to the Plan of which the Plan document and this Award Agreement are a part. The Prospectus
is available at http://www.benefitaccess.com. You should retain the Prospectus and the attached copy of the Plan in your records. 
 Your Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by returning an executed copy of this Award Agreement to the Vice President of Total Rewards and
Performance Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Section 14 and Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 

 Award Date: January 30, 2012 
 Page 2 
  

 Capitalized terms used in this Award Agreement which have a special meaning either shall
be defined in this Award Agreement or if not defined in this Award Agreement shall have the meaning ascribed to the term in the Plan. The term “Target Award” as used in this Award Agreement refers only to the Target Award awarded to you
under this Award Agreement and the term “Award” refers only to the Long Term Incentive Performance Award set forth in this Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries.
Appendix A contains an index of all capitalized terms used in this Award Agreement. 
 Section 1. Target Award;
Performance Period. 
 1.1 Target Award. Your Target Award for the Performance Period under this Award Agreement
shall be [Target]. 
 1.2 Performance Period. The Performance Period under this Award Agreement is a three-year
performance period that runs from January 1, 2012, until December 31, 2014. 
 1.3 Payment of Award. The amount
payable to you under your Award is dependent upon the Corporation’s performance as compared to the metrics described in Section 3 and Section 4 of this Award Agreement and your continued employment with the Corporation in accordance
with Section 5 of this Award Agreement. As a result of these requirements, any payments you receive may be larger or smaller than your Target Award (e.g., the performance factors could result in no payment in respect of your Award).

 Section 2. Calculation of Award Payments. 

2.1 End of Performance Period Calculation. Following the end of the Performance Period and prior to any payments being made,

 (a) The Committee will calculate the Total Stockholder Return Performance Factor based on the Corporation’s performance
during the Performance Period relative to the performance of other corporations which compose the “Peer Performance Group” as defined in Section 3.1 below. 
 (b) The Committee will calculate the ROIC Performance Factor based on the Corporation’s ROIC during the Performance Period as compared to the projected ROIC for the Performance Period in the 2012
Long Range Plan as presented at the February 2012 Board meeting. 
 (c) The Committee will calculate the Cash Flow Performance
Factor based on the Corporation’s cumulative Cash Flow during the Performance Period as compared to the projected cumulative Cash Flow in the 2012 Long Range Plan as presented at the February 2012 Board meeting. 

 Award Date: January 30, 2012 
 Page 3 
  

 (d) Your “Potential Award” shall be calculated by multiplying the weighted
average of the Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow Performance Factor by your Target Award. The Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow
Performance Factor shall be weighted as follows in determining the weighted average of the three performance factors: 
  

					
	 Total Stockholder Return Performance Factor
	  	 	50	% 
	 ROIC Performance Factor
	  	 	25	% 
	 Cash Flow Performance Factor
	  	 	25	% 

 You must (except as specified in Section 5) remain employed by the Corporation through December 31, 2014, to
receive your Potential Award. 
 Section 3. Total Stockholder Return Performance Factor. 

3.1. Peer Performance Group. The Total Stockholder Return Performance Factor will be based upon the relative ranking of the
Corporation’s Average Total Stockholder Return (as defined in Section 3.2(a)) for the Performance Period to the Average Total Stockholder Return for such Period for each corporation in the “Peer Performance Group.” The “Peer
Performance Group” shall consist of the corporations which compose the Standard and Poor’s 500 Aerospace and Defense Index reported under symbol S5AERO by Bloomberg L.P. The Corporation’s Total Stockholder Return will be based on the
performance of its common stock, par value $1.00. The Total Stockholder Return of each corporation that is taken into account in computing the Peer Performance Group Total Stockholder Return will be based on the equity security of the relevant
corporation that is used in computing the Standard and Poor’s 500 Aerospace and Defense Index. 
 3.2. Calculation of
Total Stockholder Return Performance Factor. 
 (a) Calculation of Average Total Stockholder Return. During the
Performance Period, the Committee shall compute the Total Stockholder Return (as defined in the Plan and assuming the reinvestment of any cash dividends) for the Corporation and for each other corporation in the Peer Performance Group for thirty-six
(36) periods during the Performance Period where each period begins on January 1, 2012 (based on the closing price for the stock on December 31, 2011) and ends on the last day of each successive calendar month in the Performance
Period on which the New York Stock Exchange is open for trading. Each such Total Stockholder Return shall be computed from data available to the public. At the end of the Performance Period, the thirty-six (36) Total Stockholder Return figures
for each corporation for the Performance Period will be averaged to determine each corporation’s average Total Stockholder Return (“Average TSR”) for the Performance Period. Each corporation’s Average TSR shall be ranked among
the Average TSR for each other corporation in the Peer Performance Group on a percentile basis (using the Excel PERCENTRANK function). 

 Award Date: January 30, 2012 
 Page 4 
  

 (b) Percentage Level of Target Award. Your Total Stockholder Return Performance
Factor, expressed as a percentage, will be determined under this Section 3.2(b) (and Section 3.2(c) to the extent interpolation is necessary) based on the Percentile Ranking (as determined under Section 3.2(a)) of the
Corporation’s Average TSR for the Performance Period under the following chart: 
  

							
	 Band
	  	 Percentile Ranking
	  	Total Stockholder
Return Performance
Factor	 
	 One
	  	75th or higher	  	 	200	% 
	 Two
	  	60th	  	 	150	% 
	 Three
	  	50th	  	 	100	% 
	 Four
	  	40th	  	 	50	% 
	 Five
	  	35th	  	 	25	% 
	 Six
	  	Below 35th	  	 	0	% 

 (c) Total Stockholder Return Performance Factor Interpolation. If the Percentile Ranking as
determined under Section 3.2(a) puts the Corporation over the listed Percentile Ranking for the applicable Band (other than Band One) in Section 3.2(b), your Total Stockholder Return Performance Factor under Section 3.2(b) shall be
interpolated on a linear basis. 
 Section 4. ROIC Performance Factor and Cash Flow Performance Factor.

 4.1 ROIC Performance Factor. The ROIC Performance Factor will be determined by comparing the Corporation’s
ROIC for the Performance Period to ROIC as forecasted for the Performance Period in the Corporation’s 2012 Long Range Plan and then identifying the ROIC Performance Factor based upon the factor associated with the difference on the following
table: 
  

					
	 Change from 2012 LRP
 ROIC
	  	ROIC Performance
Factor	 
	 Plan + 150 or more basis points
	  	 	200	% 
	 Plan + 120 basis points
	  	 	175	% 
	 Plan + 90 basis points
	  	 	150	% 
	 Plan + 60 basis points
	  	 	125	% 
	 Plan + 30 basis points
	  	 	100	% 
	 Plan
	  	 	75	% 
	 Plan – 15 basis points
	  	 	50	% 
	 Plan – 30 basis points
	  	 	25	% 
	 Plan – 45 or more basis points
	  	 	0	% 

 (a) ROIC Definition. For purposes of this Award Agreement, “ROIC” means return on
invested capital for the Performance Period calculated as (A) average annual (i) net income (excluding any charge or addition to net income resulting 

 Award Date: January 30, 2012 
 Page 5 
  

 
solely from adjustment of deferred tax assets and liabilities for the effect of enactment of corporate tax reform and related legislation that adjusts United States federal corporate income tax
rates) plus (ii) interest expense times one minus the highest marginal federal corporate tax rate over the three year Performance Period (“Return”), divided by (B) the average of the four year-end investment balances (beginning
with December 31, 2011 year-end balance) consisting of (i) debt (including current maturities of long-term debt) plus (ii) stockholders’ equity plus the postretirement plans amounts determined at year-end as included in the
Corporation’s Statement of Stockholders’ Equity. 
 (b) ROIC Determination. Each component of ROIC and the
calculation of any postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity shall be determined by the Committee in accordance with generally accepted accounting principles in the United States and be
based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the date or period on which ROIC is being determined, the Committee shall make
its determination in a manner consistent with the historical practices used by the Corporation in determining the components of ROIC and postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity for
purposes of reporting those items on its audited financial statements, as modified by this paragraph. Notwithstanding the foregoing, ROIC will be adjusted to exclude the impact of any change in accounting standards or adoption of any new accounting
standards that is required under generally accepted accounting principles in the United States and that is reported in the Corporation’s filings with the Securities and Exchange Commission as having a material effect on the Corporation’s
consolidated financial statements. ROIC, as included in the 2012 Long Range Plan, and the change in ROIC for purposes of the ROIC Performance Factor will be determined in accordance with this Section 4.1(b). 

4.2 Cash Flow Performance Factor. The Cash Flow Performance Factor will be determined by comparing the Corporation’s cumulative Cash Flow
during the Performance Period to the projected cumulative Cash Flow of the Corporation as forecasted in the Corporation’s 2012 Long Range Plan, and then identifying the Cash Flow Performance Factor based upon the factor associated with the
change from the 2012 Long Range Plan on the following table: 
  

					
	 Change From 2012 LRP
 Cash Flow
	  	Cash Flow Performance
Factor	 
	 Plan + $2.7B or more
	  	 	200	% 
	 Plan + $2.3B
	  	 	175	% 
	 Plan + $2.0B
	  	 	150	% 
	 Plan + $1.7B
	  	 	125	% 
	 Plan + $1.0B
	  	 	100	% 
	 Plan + $0.3B
	  	 	75	% 
	 Plan
	  	 	50	% 
	 Plan - $0.3B
	  	 	25	% 
	 Plan - $0.7B or more
	  	 	0	% 

 Award Date: January 30, 2012 
 Page 6 
  

 (a) Cash Flow Definition. For purposes of this Award Agreement, Cash Flow means
net cash flow from operations but not taking into account: (i) the aggregate difference between the amount forecasted in the Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit
pension plans during the Performance Period and the actual amounts contributed by the Corporation during the Performance Period; or (ii) any tax payments or tax benefits during the Performance Period associated with the divestiture of business
units, other than tax payments or tax benefits that were included in the Corporation’s 2012 Long Range Plan. 
 (b) Cash
Flow Determination. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the
period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash provided by operating activities as reported in its audited
consolidated statement of cash flows, in either case as modified by this paragraph. 
 4.3 Interpolation of ROIC and Cash
Flow Metrics. If the change in ROIC or Cash Flow falls between two numbers listed in the applicable table in Section 4.1 or 4.2, the appropriate factor will be interpolated on a linear basis. Notwithstanding the foregoing, the ROIC
Performance Factor will always be zero if the ROIC for the Performance Period is less than ROIC forecasted for the Performance Period in the 2012 Long Range Plan by 45 basis points or more and the Cash Flow Performance Factor will always be zero if
the aggregate Cash Flow for the Performance Period is less than what was forecasted for the Performance Period in the 2012 Long Range Plan by more than $0.7 billion. 
  

	 	Section 5.	Payment of Award. 

5.1. Employment Requirement. 
 (a) General Rule. In order to be eligible to receive payment of your Potential Award as determined under Section 2.1(d), you must accept this Award Agreement and remain employed by the
Corporation through the last day of the Performance Period. Except as provided below, if your employment as an Employee terminates during the Performance Period, you shall forfeit your right to receive all or any part of your Potential Award.

 (b) Exceptions. Notwithstanding Section 5.1(a), if the Committee determines 

 Award Date: January 30, 2012 
 Page 7 
  

 (1) that your employment as an Employee terminated as a result of your death,
“Divestiture”, “Disability” or “Retirement” or 
 (2) that the Corporation terminated your
employment involuntarily as a result of a layoff, 
 you shall retain a fraction of your Potential Award. The numerator of such
fraction shall equal the number of days in the Performance Period before your employment as an Employee terminated, and the denominator shall equal the total number of days in the Performance Period. The Committee shall have complete and absolute
discretion to make the determinations called for under this Section 5.1(b), and all such determinations shall be binding on you and on any person who claims all or any part of your Potential Award on your behalf as well as on the Corporation.
If you terminate employment during the Performance Period but are eligible to receive a portion of your Potential Award as a result of an exception under this Section 5.1(b), payment of such portion of your Potential Award shall be in full
satisfaction of all rights you have under this Award Agreement. 
 (c) Special Definitions. For purposes of this Award
Agreement: 
 (1) Your employment as an Employee shall be treated as terminating because of a Disability on the date you become
eligible for a benefit under the Corporation’s long-term disability plan in which you participate, or if you are not enrolled in a long-term disability plan, the date on which long-term disability benefits would commence under the plan under
which you would have been covered, had you enrolled; 
 (2) Your employment as an Employee shall be treated as terminating as a
result of Divestiture if the Corporation divests all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation and a transfer of such employment to the
other party in the divestiture. A divestiture shall mean a transaction which results in the transfer of control of the business operation to any person, corporation, association, partnership, joint venture, limited liability company or other
business entity of which less than 50% of the voting stock or other equity interests are owned or controlled by the Corporation; and 
 (3) Your employment as an Employee shall be treated as terminating because of Retirement if (a) you participate in a defined benefit pension plan maintained by the Corporation, and your employment
terminates on or after the date on which you satisfy the plan’s age and service requirements for commencing receipt of an early retirement benefit under the plan or (b) you do not participate in a defined benefit pension plan maintained by
the Corporation, and your employment terminates after (i) you reach age 65, or (ii) you reach age 55 and have completed five years of service. 

 Award Date: January 30, 2012 
 Page 8 
  

 5.2. Payment Rules. 

(a) General Rule: Vesting; Method of Payment. If you are eligible to receive all, or a portion of, your Potential Award under
Section 5.1, your Potential Award shall be fully vested on the date on which the Committee certifies in writing (for purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance Period,
and shall be either paid in cash to you or deferred in accordance with Section 5.2(c). Subject to Section 5.2(c), in the event of your death, your payment will be made to your estate if you do not have a properly completed beneficiary
designation form on file with the Vice President of Total Rewards and Performance Management. 
 (b) Timing of Payment.
Subject to Section 5.2(c), you shall have the right to receive your Potential Award in cash as soon as administratively practicable, but no later than ninety (90) days after the date on which the Committee certifies in writing (for
purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance Period, but no later than March 15 following such certification date. 

(c) Deferral. You will be given an opportunity to elect to defer any amounts payable under Section 5.2 of this Award
Agreement. Such election shall be irrevocable, shall be made in accordance with the terms of the Lockheed Martin Corporation Deferred Management Incentive Compensation Plan (“DMICP”) and the requirements of Code section 409A, and shall be
subject to such additional terms and conditions as are set by the Committee. A deferral election form and the terms and conditions for any deferral will be furnished to you in due course. The beneficiary designation for the DMICP (rather than the
beneficiary designation for this Long Term Incentive Performance Award) shall govern any amounts deferred under the terms of the DMICP. 
 5.3. Cutback. Any payment called for under Section 5.2 will be reduced to the extent that such payment together with payments attributable to any other Cash-Based Awards that are granted
during 2012 as Performance Based Awards exceeds $10,000,000. Amounts in excess of $10,000,000 shall be forfeited. 
 5.4.
Withholding. Any payment made in respect of your Award will be subject to income tax withholding at the minimum rate prescribed by law. You may owe taxes in addition to the amount withheld and may request that tax be withheld at a greater
rate. As required under the law, FICA tax will be collected from you or withheld from the amount of your award or from your wages, when any portion of an award becomes vested for tax purposes prior to payment. 

 Award Date: January 30, 2012 
 Page 9 
  

 5.5. Means of Satisfying Code Section 409A. If any payment that would
otherwise be made under this Award Agreement is required to be delayed by reason of Section 13, such payment shall be made at the earliest date permitted by Code section 409A. The amount of any delayed payment shall be the amount that would
have been paid prior to the delay adjusted to include interest from the original payment date to the actual payment date, at a rate equivalent to the six month London Interbank Offered Rate (LIBOR) as published in the Money Rates section of the Wall
Street Journal, plus 25 basis points. The increase over LIBOR may be adjusted to reflect the six month unsecured borrowing rate of the Corporation. 
  

	 	Section 6.	No Assignment – General Creditor Status. 

 You shall have no right to assign any interest you might have in all or any part of the Target Award or Potential Award which has been granted to you under this Award Agreement and any attempt to do so
shall be null and void and shall have no force or effect whatsoever. Furthermore, all payments called for under this Award Agreement shall be made in cash from the Corporation’s general assets, and your right to payment from the
Corporation’s general assets shall be the same as the right of a general and unsecured creditor of the Corporation. 
  

	 	Section 7.	Plan. 

 This Award
Agreement shall be subject to all of the terms and conditions set forth in the Plan. 
  

	 	Section 8.	Change in Control. 

8.1. Change in Control During Performance Period. If during the Performance Period, a Change in Control (as defined in
Section 7 of the Plan) occurs, the Performance Period will terminate. Notwithstanding any deferral election or term of this Award Agreement to the contrary, a pro rata portion of your Award will be paid to you within fifteen (15) days of
the Change in Control. The prorated portion will be the sum of (i) the result obtained by first multiplying your Target Award by the Total Stockholder Return Performance Factor calculated under Section 3.2(b), but based upon the Total
Stockholder Return for the Corporation and the Peer Performance Group as of the last day of the month immediately preceding the Change in Control, and then further multiplying that product by a fraction, the numerator of which is the number of days
in the Performance Period prior to the Change in Control and the denominator of which is the total number of days in the Performance Period. 
 8.2. Special Rule. Notwithstanding Section 8.1, if a payment in accordance with those provisions would result in a nonexempt short-swing transaction under Section 16(b) of the Securities
Exchange Act of 1934, then the date of distribution to you shall be delayed until the earliest date upon which the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability under
Section 16(b) of the Securities Exchange Act of 1934. 

 Award Date: January 30, 2012 
 Page 10 
  

	 	Section 9.	  Amendment and Termination. 

 As provided in Section 9 of the Plan, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time amend this Award Agreement. Notwithstanding the
foregoing, no such action by the Board of Directors or the Committee shall amend Sections 1, 2, 3, 4, or 5 in a manner adverse to you or reduce the amount payable hereunder in a material manner without your written consent. For this purpose, a
change in the amount payable hereunder that occurs solely by reason of a change in the date or form of payment shall in no case be treated as a reduction prohibited by this Section 9. Thus, for example, if an amount payable by reason of
Section 8 is delayed by an amendment to this Award Agreement or other action undertaken to comply with Section 409A of the Internal Revenue Code and the amount payable is reduced solely by reason of a corresponding delay in the date of
valuation of a share of the Corporation’s common stock, such a change shall not be treated as a reduction prohibited by this Section 9. This Section 9 shall be construed and applied so as to permit the Committee to amend this Award
Agreement at any time in any manner reasonably necessary or appropriate in order to comply with the requirements of Section 16 of the Securities Exchange Act of 1934 and of Code section 409A, including amendments regarding the timing and form
of payments hereunder. 
  

	 	Section 10.	  No Right to an Award; Value of Award. 

 Your status as an Employee shall not be construed as a commitment that any one or more awards shall be made under the Plan to you or to Employees generally. Your status as a Participant shall not entitle
you to any additional award. The value of the Award will not be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. 

 

	 	Section 11.	  No Assurance of Employment. 

 Nothing contained in the Plan or in this Award Agreement shall confer upon you any right to continue in the employ or other service of the Corporation or constitute any contract (of employment or
otherwise) or limit in any way the right of the Corporation to change your compensation or other benefits or to terminate your employment with or without cause. 
  

	 	Section 12.	  Conflict. 

 In the event of a conflict between this Award Agreement and the Plan, the Plan document shall control. 
  

	 	Section 13.	  Compliance with Section 409A of the Internal Revenue Code. 

Notwithstanding any other provision of this Award Agreement to the contrary, to the extent that this Award Agreement constitutes a
nonqualified deferred compensation 

 Award Date: January 30, 2012 
 Page 11 
  

 
plan to which Code section 409A applies, payments under this Award Agreement shall be made at a time and in a manner that satisfies the requirements of Code section 409A and guidance of general
applicability issued thereunder, including the provisions of 409A(a)(2)(B)(i) to the extent distributions to any specified employee are required to be delayed six months, and all terms shall be interpreted in accordance with Code section 409A.

  

	 	Section 14.	  Post-Employment Covenants & Stock Ownership Requirements. 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement and you acknowledge receipt of the Stock Ownership Requirements (“Ownership Requirements”) attached as Exhibit B to this Award Agreement and agree to comply with such Ownership Requirements. If you are
not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or
above). 
  

	 	Section 15.	  Execution. 

 No Award is enforceable until you properly acknowledge your acceptance by returning an executed copy of this Award Agreement, as soon as possible but in no event later than May 31, 2012, to the Vice
President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801 Rockledge Drive, Bethesda, MD 20817. 

 Award Date: January 30, 2012 
 Page 12 
  

 By signing this Award Agreement, you consent to receive copies of the Prospectus
applicable to this Award from this internet site (http://www.benefitaccess.com) as well as to electronic delivery of the Corporation’s annual report on Form 10-K, annual proxy and quarterly reports on Form 10-Q. This consent can only be
withdrawn by written notice to the Senior Vice President, General Counsel, and Corporate Secretary, Lockheed Martin Corporation, 6801 Rockledge Drive, Bethesda, MD 20817. 
 A pre-addressed envelope has been enclosed for your convenience to return with a copy of this Award Agreement, as acknowledged by you below. 

 

	
	Sincerely,
	
	David A. Filomeo
	Vice President
	Total Rewards and Performance Management

 Enclosures 
 ACKNOWLEDGEMENT: 
  

					
	  
	 		 	  

	Signature	 		 	Date
			
	  
	 		 	
	Print or type name	 		 	

 Award Date: January 30, 2012 
 Page 13 
  

 Appendix A 
 Capitalized Terms 
  

			
	 Average TSR
	  	§ 3.2(a)
	 Award
	  	3rd ¶
	 Cash Flow
	  	§ 4.2(a)
	 Cash Flow Performance Factor
	  	§ 4.2
	 Change of Control
	  	Plan
	 Committee
	  	1st ¶
	 Corporation
	  	3rd ¶
	 Peer Performance Group
	  	§ 3.1
	 Performance Period
	  	§ 1.2
	 Plan
	  	1st ¶
	 Potential Award
	  	§ 2.1(d)
	 ROIC
	  	§ 4.1(a)
	 ROIC Performance Factor
	  	§ 4.1
	 Subsidiary
	  	Plan
	 Target Award
	  	3rd ¶, § 1.1
	 Total Stockholder Return
	  	Plan; § 3.2(a)
	 Total Stockholder Return Performance Factor
	  	§ 3.1; § 3.2

 Award Date: January 30, 2012 
 Page 14 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (LTIP Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of a Long Term Incentive Performance Award to me under the Award Agreement (the “LTIP”) pursuant to the Lockheed
Martin Corporation 2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the LTIP, I agree as follows: 

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

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

  

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

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

 Award Date: January 30, 2012 
 Page 15 
  

 (c) Protection of Proprietary Information – Except to the extent required by
law, following my Termination Date, I will have a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or
Proprietary Information” (as defined below) of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the
terms of such agreements. I will not use or disclose or allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was responsible for
creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or
confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel, and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Corporation for
assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the property of the
Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to information that a
person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if
used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

 

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

 

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

 Award Date: January 30, 2012 
 Page 16 
  

 (d) No disparagement – Following the Termination Date, I will not make any
statements, whether verbal or written, that disparage or reasonably may be interpreted to disparage the Corporation or its stockholders, directors, officers, employees, agents, attorneys, representatives, technology, products or services with
respect to any matter whatsoever. 
 (e) Cooperation in Litigation and Investigations – Following the Termination
Date, I will, to the extent reasonably requested, cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Corporation or any of its subsidiaries or
affiliates is a party or is required or requested to provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could be expected to have knowledge or information relevant to the litigation or
investigation. Notwithstanding any other provision of this PECA, nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 

2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made
available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the LTIP is expressly
made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the
benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to and
extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon
demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

 Award Date: January 30, 2012 
 Page 17 
  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not be
the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the LTIP, any
cash paid to me, whether paid currently or deferred; and (ii) to the extent I have not earned the LTIP fully, all of my remaining rights, title or interest in the LTIP. 
 4. Injunctive Relief. I acknowledge that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of
Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under
Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security.

 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be
enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such
deletion to apply only with respect to the operation of this provision in the particular jurisdiction in which such adjudication is made. 
 6. Definitions. Capitalized terms not defined in this PECA have the meaning given to them in the Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below:

 Award Date: January 30, 2012 
 Page 18 
  

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

(a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the LTIP to me.

 (b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any enforcement
of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the
United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 

 Award Date: January 30, 2012 
 Page 19 
  

 (c) This PECA shall inure to the benefit of the Corporation’s successors and
assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part
following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and
me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 
 This PECA is effective as of the acceptance by me of the award of an LTIP under the Award Agreement and is not contingent on the vesting of the LTIP. 

 Award Date: January 30, 2012 
 Page 20 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 LTIP PECA SVPHR (performance) 
 Award Date: January 30, 2012 
  
 

 
 Lockheed Martin Corporation 
 6801 Rockledge Drive, Bethesda, MD 20817 
 Telephone 301-897-6000 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER THE 
 SECURITIES ACT OF 1933

 «Name» 

«Street» 
 «City»,
«State» «Zip» 
  

	 	Re:	Lockheed Martin Corporation 2011 Incentive Performance Award Plan: Long-Term Incentive Performance Award (2012-2014 Performance Period) 

 Dear «Call_By_Name»: 
 On behalf of the Management Development and Compensation Committee (the “Committee”) of the Board of Directors of Lockheed Martin Corporation, I am pleased to tell you that you have been granted
a Long-Term Incentive Performance Award under the Corporation’s 2011 Incentive Performance Award Plan (the “Plan”). The purpose of this letter is to serve as the Award Agreement under such Plan and to set forth your Target Award as
well as the terms and conditions to the payment of your Target Award. Additional terms and conditions are set forth in the Plan and in the Prospectus relating to the Plan of which the Plan document and this Award Agreement are a part. The Prospectus
is available at http://www.benefitaccess.com. You should retain the Prospectus and the attached copy of the Plan in your records. 
 Your Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by returning an executed copy of this Award Agreement to the Vice President of Total Rewards and
Performance Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Section 14 and Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 

 Award Date: January 30, 2012 
 Page 2 
  

 Capitalized terms used in this Award Agreement which have a special meaning either shall
be defined in this Award Agreement or if not defined in this Award Agreement shall have the meaning ascribed to the term in the Plan. The term “Target Award” as used in this Award Agreement refers only to the Target Award awarded to you
under this Award Agreement and the term “Award” refers only to the Long Term Incentive Performance Award set forth in this Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries.
Appendix A contains an index of all capitalized terms used in this Award Agreement. 
  

	 	Section 1.	Target Award; Performance Period. 

 1.1 Target Award. Your Target Award for the Performance Period under this Award Agreement shall be [Target]. 
 1.2 Performance Period. The Performance Period under this Award Agreement is a three-year performance period that runs from January 1, 2012, until December 31, 2014. 

1.3 Payment of Award. The amount payable to you under your Award is dependent upon the Corporation’s performance as compared
to the metrics described in Section 3 and Section 4 of this Award Agreement and your continued employment with the Corporation in accordance with Section 5 of this Award Agreement. As a result of these requirements, any payments you
receive may be larger or smaller than your Target Award (e.g., the performance factors could result in no payment in respect of your Award). 
  

	 	Section 2.	Calculation of Award Payments. 

 2.1 End of Performance Period Calculation. Following the end of the Performance Period and prior to any payments being made, 
 (a) The Committee will calculate the Total Stockholder Return Performance Factor based on the Corporation’s performance during the Performance Period relative to the performance of other corporations
which compose the “Peer Performance Group” as defined in Section 3.1 below. 
 (b) The Committee will calculate
the ROIC Performance Factor based on the Corporation’s ROIC during the Performance Period as compared to the projected ROIC for the Performance Period in the 2012 Long Range Plan as presented at the February 2012 Board meeting. 

(c) The Committee will calculate the Cash Flow Performance Factor based on the Corporation’s cumulative Cash Flow during the
Performance Period as compared to the projected cumulative Cash Flow in the 2012 Long Range Plan as presented at the February 2012 Board meeting. 

 Award Date: January 30, 2012 
 Page 3 
  

 (d) Your “Potential Award” shall be calculated by multiplying the weighted
average of the Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow Performance Factor by your Target Award. The Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow
Performance Factor shall be weighted as follows in determining the weighted average of the three performance factors: 
  

					
	 Total Stockholder Return Performance Factor
	  	 	50	% 
	 ROIC Performance Factor
	  	 	25	% 
	 Cash Flow Performance Factor
	  	 	25	% 

 You must (except as specified in Section 5) remain employed by the Corporation through December 31, 2014, to
receive your Potential Award. 
  

	 	Section 3.	Total Stockholder Return Performance Factor. 

 3.1. Peer Performance Group. The Total Stockholder Return Performance Factor will be based upon the relative ranking of the Corporation’s Average Total Stockholder Return (as defined in
Section 3.2(a)) for the Performance Period to the Average Total Stockholder Return for such Period for each corporation in the “Peer Performance Group.” The “Peer Performance Group” shall consist of the corporations which
compose the Standard and Poor’s 500 Aerospace and Defense Index reported under symbol S5AERO by Bloomberg L.P. The Corporation’s Total Stockholder Return will be based on the performance of its common stock, par value $1.00. The Total
Stockholder Return of each corporation that is taken into account in computing the Peer Performance Group Total Stockholder Return will be based on the equity security of the relevant corporation that is used in computing the Standard and
Poor’s 500 Aerospace and Defense Index. 
 3.2. Calculation of Total Stockholder Return Performance Factor.

 (a) Calculation of Average Total Stockholder Return. During the Performance Period, the Committee shall compute the
Total Stockholder Return (as defined in the Plan and assuming the reinvestment of any cash dividends) for the Corporation and for each other corporation in the Peer Performance Group for thirty-six (36) periods during the Performance Period
where each period begins on January 1, 2012 (based on the closing price for the stock on December 31, 2011) and ends on the last day of each successive calendar month in the Performance Period on which the New York Stock Exchange is open
for trading. Each such Total Stockholder Return shall be computed from data available to the public. At the end of the Performance Period, the thirty-six (36) Total Stockholder Return figures for each corporation for the Performance Period will
be averaged to determine each corporation’s average Total Stockholder Return (“Average TSR”) for the Performance Period. Each corporation’s Average TSR shall be ranked among the Average TSR for each other corporation in the Peer
Performance Group on a percentile basis (using the Excel PERCENTRANK function). 

 Award Date: January 30, 2012 
 Page 4 
  

 (b) Percentage Level of Target Award. Your Total Stockholder Return Performance
Factor, expressed as a percentage, will be determined under this Section 3.2(b) (and Section 3.2(c) to the extent interpolation is necessary) based on the Percentile Ranking (as determined under Section 3.2(a)) of the
Corporation’s Average TSR for the Performance Period under the following chart: 
  

							
	 Band
	  	 Percentile Ranking
	  	Total Stockholder
Return Performance
Factor	 
	 One
	  	75th or higher	  	 	200	% 
	 Two
	  	60th	  	 	150	% 
	 Three
	  	50th	  	 	100	% 
	 Four
	  	40th	  	 	50	% 
	 Five
	  	35th	  	 	25	% 
	 Six
	  	Below 35th	  	 	0	% 

 (c) Total Stockholder Return Performance Factor Interpolation. If the Percentile Ranking as
determined under Section 3.2(a) puts the Corporation over the listed Percentile Ranking for the applicable Band (other than Band One) in Section 3.2(b), your Total Stockholder Return Performance Factor under Section 3.2(b) shall be
interpolated on a linear basis. 
  

	 	Section 4.	ROIC Performance Factor and Cash Flow Performance Factor. 

 4.1 ROIC Performance Factor. The ROIC Performance Factor will be determined by comparing the Corporation’s ROIC for the Performance Period to ROIC as forecasted for the Performance Period in
the Corporation’s 2012 Long Range Plan and then identifying the ROIC Performance Factor based upon the factor associated with the difference on the following table: 

 

					
	 Change from 2012 LRP
 ROIC
	  	ROIC Performance
Factor	 
	 Plan + 150 or more basis points
	  	 	200	% 
	 Plan + 120 basis points
	  	 	175	% 
	 Plan + 90 basis points
	  	 	150	% 
	 Plan + 60 basis points
	  	 	125	% 
	 Plan + 30 basis points
	  	 	100	% 
	 Plan
	  	 	75	% 
	 Plan – 15 basis points
	  	 	50	% 
	 Plan – 30 basis points
	  	 	25	% 
	 Plan – 45 or more basis points
	  	 	0	% 

 (a) ROIC Definition. For purposes of this Award Agreement, “ROIC” means return on
invested capital for the Performance Period calculated as (A) average annual (i) net income (excluding any charge or addition to net income resulting 

 Award Date: January 30, 2012 
 Page 5 
  

 
solely from adjustment of deferred tax assets and liabilities for the effect of enactment of corporate tax reform and related legislation that adjusts United States federal corporate income tax
rates) plus (ii) interest expense times one minus the highest marginal federal corporate tax rate over the three year Performance Period (“Return”), divided by (B) the average of the four year-end investment balances (beginning
with December 31, 2011 year-end balance) consisting of (i) debt (including current maturities of long-term debt) plus (ii) stockholders’ equity plus the postretirement plans amounts determined at year-end as included in the
Corporation’s Statement of Stockholders’ Equity. 
 (b) ROIC Determination. Each component of ROIC and the
calculation of any postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity shall be determined by the Committee in accordance with generally accepted accounting principles in the United States and be
based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the date or period on which ROIC is being determined, the Committee shall make
its determination in a manner consistent with the historical practices used by the Corporation in determining the components of ROIC and postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity for
purposes of reporting those items on its audited financial statements, as modified by this paragraph. Notwithstanding the foregoing, ROIC will be adjusted to exclude the impact of any change in accounting standards or adoption of any new accounting
standards that is required under generally accepted accounting principles in the United States and that is reported in the Corporation’s filings with the Securities and Exchange Commission as having a material effect on the Corporation’s
consolidated financial statements. ROIC, as included in the 2012 Long Range Plan, and the change in ROIC for purposes of the ROIC Performance Factor will be determined in accordance with this Section 4.1(b). 

4.2 Cash Flow Performance Factor. The Cash Flow Performance Factor will be determined by comparing the Corporation’s
cumulative Cash Flow during the Performance Period to the projected cumulative Cash Flow of the Corporation as forecasted in the Corporation’s 2012 Long Range Plan, and then identifying the Cash Flow Performance Factor based upon the factor
associated with the change from the 2012 Long Range Plan on the following table: 
  

					
	 Change From 2012 LRP
 Cash Flow
	  	Cash Flow Performance
Factor	 
	 Plan + $2.7B or more
	  	 	200	% 
	 Plan + $2.3B
	  	 	175	% 
	 Plan + $2.0B
	  	 	150	% 
	 Plan + $1.7B
	  	 	125	% 
	 Plan + $1.0B
	  	 	100	% 
	 Plan + $0.3B
	  	 	75	% 
	 Plan
	  	 	50	% 
	 Plan - $0.3B
	  	 	25	% 
	 Plan - $0.7B or more
	  	 	0	% 

 Award Date: January 30, 2012 
 Page 6 
  

 (a) Cash Flow Definition. For purposes of this Award Agreement, Cash Flow means
net cash flow from operations but not taking into account: (i) the aggregate difference between the amount forecasted in the Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit
pension plans during the Performance Period and the actual amounts contributed by the Corporation during the Performance Period; or (ii) any tax payments or tax benefits during the Performance Period associated with the divestiture of business
units, other than tax payments or tax benefits that were included in the Corporation’s 2012 Long Range Plan. 
 (b) Cash
Flow Determination. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the
period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash provided by operating activities as reported in its audited
consolidated statement of cash flows, in either case as modified by this paragraph. 
 4.3 Interpolation of ROIC and Cash
Flow Metrics. If the change in ROIC or Cash Flow falls between two numbers listed in the applicable table in Section 4.1 or 4.2, the appropriate factor will be interpolated on a linear basis. Notwithstanding the foregoing, the ROIC
Performance Factor will always be zero if the ROIC for the Performance Period is less than ROIC forecasted for the Performance Period in the 2012 Long Range Plan by 45 basis points or more and the Cash Flow Performance Factor will always be zero if
the aggregate Cash Flow for the Performance Period is less than what was forecasted for the Performance Period in the 2012 Long Range Plan by more than $0.7 billion. 
  

	 	Section 5.	Payment of Award. 

5.1. Employment Requirement. 
 (a) General Rule. In order to be eligible to receive payment of your Potential Award as determined under Section 2.1(d), you must accept this Award Agreement and remain employed by the
Corporation through the last day of the Performance Period. Except as provided below, if your employment as an Employee terminates during the Performance Period, you shall forfeit your right to receive all or any part of your Potential Award.

 (b) Exceptions. Notwithstanding Section 5.1(a), if the Committee determines 

 Award Date: January 30, 2012 
 Page 7 
  

 (1) that your employment as an Employee terminated as a result of your death,
“Divestiture”, “Disability” or “Retirement” or 
 (2) that the Corporation terminated your
employment involuntarily as a result of a layoff, 
 you shall retain a fraction of your Potential Award. The numerator of such
fraction shall equal the number of days in the Performance Period before your employment as an Employee terminated, and the denominator shall equal the total number of days in the Performance Period. The Committee shall have complete and absolute
discretion to make the determinations called for under this Section 5.1(b), and all such determinations shall be binding on you and on any person who claims all or any part of your Potential Award on your behalf as well as on the Corporation.
If you terminate employment during the Performance Period but are eligible to receive a portion of your Potential Award as a result of an exception under this Section 5.1(b), payment of such portion of your Potential Award shall be in full
satisfaction of all rights you have under this Award Agreement. 
 (c) Special Definitions. For purposes of this Award
Agreement: 
 (1) Your employment as an Employee shall be treated as terminating because of a Disability on the date you become
eligible for a benefit under the Corporation’s long-term disability plan in which you participate, or if you are not enrolled in a long-term disability plan, the date on which long-term disability benefits would commence under the plan under
which you would have been covered, had you enrolled; 
 (2) Your employment as an Employee shall be treated as terminating as a
result of Divestiture if the Corporation divests all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation and a transfer of such employment to the
other party in the divestiture. A divestiture shall mean a transaction which results in the transfer of control of the business operation to any person, corporation, association, partnership, joint venture, limited liability company or other
business entity of which less than 50% of the voting stock or other equity interests are owned or controlled by the Corporation; and 
 (3) Your employment as an Employee shall be treated as terminating because of Retirement if (a) you participate in a defined benefit pension plan maintained by the Corporation, and your employment
terminates on or after the date on which you satisfy the plan’s age and service requirements for commencing receipt of an early retirement benefit under the plan or (b) you do not participate in a defined benefit pension plan maintained by
the Corporation, and your employment terminates after (i) you reach age 65, or (ii) you reach age 55 and have completed five years of service. 

 Award Date: January 30, 2012 
 Page 8 
  

 5.2. Payment Rules. 

(a) General Rule: Vesting; Method of Payment. If you are eligible to receive all, or a portion of, your Potential Award under
Section 5.1, your Potential Award shall be fully vested on the date on which the Committee certifies in writing (for purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance Period,
and shall be either paid in cash to you or deferred in accordance with Section 5.2(c). Subject to Section 5.2(c), in the event of your death, your payment will be made to your estate if you do not have a properly completed beneficiary
designation form on file with the Vice President of Total Rewards and Performance Management. 
 (b) Timing of Payment.
Subject to Section 5.2(c), you shall have the right to receive your Potential Award in cash as soon as administratively practicable, but no later than ninety (90) days after the date on which the Committee certifies in writing (for
purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance Period, but no later than March 15 following such certification date. 

(c) Deferral. You will be given an opportunity to elect to defer any amounts payable under Section 5.2 of this Award
Agreement. Such election shall be irrevocable, shall be made in accordance with the terms of the Lockheed Martin Corporation Deferred Management Incentive Compensation Plan (“DMICP”) and the requirements of Code section 409A, and shall be
subject to such additional terms and conditions as are set by the Committee. A deferral election form and the terms and conditions for any deferral will be furnished to you in due course. The beneficiary designation for the DMICP (rather than the
beneficiary designation for this Long Term Incentive Performance Award) shall govern any amounts deferred under the terms of the DMICP. 
 5.3. Cutback. Any payment called for under Section 5.2 will be reduced to the extent that such payment together with payments attributable to any other Cash-Based Awards that are granted
during 2012 as Performance Based Awards exceeds $10,000,000. Amounts in excess of $10,000,000 shall be forfeited. 
 5.4.
Withholding. Any payment made in respect of your Award will be subject to income tax withholding at the minimum rate prescribed by law. You may owe taxes in addition to the amount withheld and may request that tax be withheld at a greater
rate. As required under the law, FICA tax will be collected from you or withheld from the amount of your award or from your wages, when any portion of an award becomes vested for tax purposes prior to payment. 

 Award Date: January 30, 2012 
 Page 9 
  

 5.5. Means of Satisfying Code Section 409A. If any payment that would
otherwise be made under this Award Agreement is required to be delayed by reason of Section 13, such payment shall be made at the earliest date permitted by Code section 409A. The amount of any delayed payment shall be the amount that would
have been paid prior to the delay adjusted to include interest from the original payment date to the actual payment date, at a rate equivalent to the six month London Interbank Offered Rate (LIBOR) as published in the Money Rates section of the Wall
Street Journal, plus 25 basis points. The increase over LIBOR may be adjusted to reflect the six month unsecured borrowing rate of the Corporation. 
  

	 	Section 6.	No Assignment – General Creditor Status. 

 You shall have no right to assign any interest you might have in all or any part of the Target Award or Potential Award which has been granted to you under this Award Agreement and any attempt to do so
shall be null and void and shall have no force or effect whatsoever. Furthermore, all payments called for under this Award Agreement shall be made in cash from the Corporation’s general assets, and your right to payment from the
Corporation’s general assets shall be the same as the right of a general and unsecured creditor of the Corporation. 
  

	 	Section 7.	Plan. 

 This Award
Agreement shall be subject to all of the terms and conditions set forth in the Plan. 
  

	 	Section 8.	Change in Control. 

8.1. Change in Control During Performance Period. If during the Performance Period, a Change in Control (as defined in
Section 7 of the Plan) occurs, the Performance Period will terminate. Notwithstanding any deferral election or term of this Award Agreement to the contrary, a pro rata portion of your Award will be paid to you within fifteen (15) days of
the Change in Control. The prorated portion will be the sum of (i) the result obtained by first multiplying your Target Award by the Total Stockholder Return Performance Factor calculated under Section 3.2(b), but based upon the Total
Stockholder Return for the Corporation and the Peer Performance Group as of the last day of the month immediately preceding the Change in Control, and then further multiplying that product by a fraction, the numerator of which is the number of days
in the Performance Period prior to the Change in Control and the denominator of which is the total number of days in the Performance Period. 
 8.2. Special Rule. Notwithstanding Section 8.1, if a payment in accordance with those provisions would result in a nonexempt short-swing transaction under Section 16(b) of the Securities
Exchange Act of 1934, then the date of distribution to you shall be delayed until the earliest date upon which the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability under
Section 16(b) of the Securities Exchange Act of 1934. 

 Award Date: January 30, 2012 
 Page 10 
  

 Section 9.  Amendment and Termination.  

As provided in Section 9 of the Plan, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee
may at any time amend this Award Agreement. Notwithstanding the foregoing, no such action by the Board of Directors or the Committee shall amend Sections 1, 2, 3, 4, or 5 in a manner adverse to you or reduce the amount payable hereunder in a
material manner without your written consent. For this purpose, a change in the amount payable hereunder that occurs solely by reason of a change in the date or form of payment shall in no case be treated as a reduction prohibited by this
Section 9. Thus, for example, if an amount payable by reason of Section 8 is delayed by an amendment to this Award Agreement or other action undertaken to comply with Section 409A of the Internal Revenue Code and the amount payable is
reduced solely by reason of a corresponding delay in the date of valuation of a share of the Corporation’s common stock, such a change shall not be treated as a reduction prohibited by this Section 9. This Section 9 shall be construed
and applied so as to permit the Committee to amend this Award Agreement at any time in any manner reasonably necessary or appropriate in order to comply with the requirements of Section 16 of the Securities Exchange Act of 1934 and of Code
section 409A, including amendments regarding the timing and form of payments hereunder. 
 Section 10.   No
Right to an Award; Value of Award. 
 Your status as an Employee shall not be construed as a commitment that any one or
more awards shall be made under the Plan to you or to Employees generally. Your status as a Participant shall not entitle you to any additional award. The value of the Award will not be taken into account for other benefits offered by the
Corporation, including but not limited to pension benefits. 
 Section 11.  No Assurance of
Employment. 
 Nothing contained in the Plan or in this Award Agreement shall confer upon you any right to continue in
the employ or other service of the Corporation or constitute any contract (of employment or otherwise) or limit in any way the right of the Corporation to change your compensation or other benefits or to terminate your employment with or without
cause. 
 Section 12.  Conflict.  

In the event of a conflict between this Award Agreement and the Plan, the Plan document shall control. 

Section 13.  Compliance with Section 409A of the Internal Revenue Code. 

Notwithstanding any other provision of this Award Agreement to the contrary, to the extent that this Award Agreement constitutes a
nonqualified deferred compensation 

 Award Date: January 30, 2012 
 Page 11 
  

 
plan to which Code section 409A applies, payments under this Award Agreement shall be made at a time and in a manner that satisfies the requirements of Code section 409A and guidance of general
applicability issued thereunder, including the provisions of 409A(a)(2)(B)(i) to the extent distributions to any specified employee are required to be delayed six months, and all terms shall be interpreted in accordance with Code section 409A.

 Section 14.  Post-Employment Covenants & Stock Ownership Requirements. 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants
contained in Exhibit A to this Award Agreement and you acknowledge receipt of the Stock Ownership Requirements (“Ownership Requirements”) attached as Exhibit B to this Award Agreement and agree to comply with such Ownership Requirements.
If you are not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice
President (or above). 
 Section 15.  Execution. 

No Award is enforceable until you properly acknowledge your acceptance by returning an executed copy of this Award Agreement, as soon as
possible but in no event later than May 31, 2012, to the Vice President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801 Rockledge Drive, Bethesda, MD 20817. 

 Award Date: January 30, 2012 
 Page 12 
  

 By signing this Award Agreement, you consent to receive copies of the Prospectus
applicable to this Award from this internet site (http://www.benefitaccess.com)as well as to electronic delivery of the Corporation’s annual report on Form 10-K, annual proxy and quarterly reports on Form 10-Q. This consent can only be
withdrawn by written notice to the Senior Vice President, General Counsel, and Corporate Secretary, Lockheed Martin Corporation, 6801 Rockledge Drive, Bethesda, MD 20817. 
 A pre-addressed envelope has been enclosed for your convenience to return with a copy of this Award Agreement, as acknowledged by you below. 

 

	
	Sincerely,
	
	David A. Filomeo
	Vice President
	Total Rewards and Performance Management

 Enclosures 
 ACKNOWLEDGEMENT: 
  

					
	  
	 		 	  

	Signature	 		 	Date
			
	  
	 		 	
	Print or type name	 		 	

  

 Award Date: January 30, 2012 
 Page 13 
  

 Appendix A 
 Capitalized Terms 
  

			
	 Average TSR
	  	§ 3.2(a)
	 Award
	  	3rd ¶
	 Cash Flow
	  	§ 4.2(a)
	 Cash Flow Performance Factor
	  	§ 4.2
	 Change of Control
	  	Plan
	 Committee
	  	1st ¶
	 Corporation
	  	3rd ¶
	 Peer Performance Group
	  	§ 3.1
	 Performance Period
	  	§ 1.2
	 Plan
	  	1st ¶
	 Potential Award
	  	§ 2.1(d)
	 ROIC
	  	§ 4.1(a)
	 ROIC Performance Factor
	  	§ 4.1
	 Subsidiary
	  	Plan
	 Target Award
	  	3rd ¶, § 1.1
	 Total Stockholder Return
	  	Plan; § 3.2(a)
	 Total Stockholder Return Performance
	  	§ 3.1; § 3.2
	 Factor
	  	

 Award Date: January 30, 2012 
 Page 14 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (LTIP Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of a Long Term Incentive Performance Award to me under the Award Agreement (the “LTIP”) pursuant to the Lockheed
Martin Corporation 2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the LTIP, I agree as follows: 

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

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

  

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

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

 Award Date: January 30, 2012 
 Page 15 
  

 (c) Protection of Proprietary Information – Except to the extent required by
law, following my Termination Date, I will have a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or
Proprietary Information” (as defined below) of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the
terms of such agreements. I will not use or disclose or allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was responsible for
creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or
confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel, and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Corporation for
assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the property of the
Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to information that a
person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if
used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

 

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

 

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

 Award Date: January 30, 2012 
 Page 16 
  

 (d) No disparagement – Following the Termination Date, I will not make any
statements, whether verbal or written, that disparage or reasonably may be interpreted to disparage the Corporation or its stockholders, directors, officers, employees, agents, attorneys, representatives, technology, products or services with
respect to any matter whatsoever. 
 (e) Cooperation in Litigation and Investigations – Following the Termination
Date, I will, to the extent reasonably requested, cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Corporation or any of its subsidiaries or
affiliates is a party or is required or requested to provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could be expected to have knowledge or information relevant to the litigation or
investigation. Notwithstanding any other provision of this PECA, nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 

2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made
available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the LTIP is expressly
made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the
benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to and
extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon
demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

	 	(ii)	 The Corporation determines that either (a) my intentional misconduct or gross negligence, or (b) my failure to report another person’s
intentional misconduct or gross negligence of which I had knowledge during the period I was employed by 

 Award Date: January 30, 2012 
 Page 17 
  

	 	
the Corporation, contributed to the Corporation having to restate all or a portion of its financial statements filed for any period with the Securities and Exchange Commission;

  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not be
the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the LTIP, any
cash paid to me, whether paid currently or deferred; and (ii) to the extent I have not earned the LTIP fully, all of my remaining rights, title or interest in the LTIP. 
 4. Injunctive Relief. I acknowledge that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of
Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under
Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security.

 5. Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be
enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such
deletion to apply only with respect to the operation of this provision in the particular jurisdiction in which such adjudication is made. 

 Award Date: January 30, 2012 
 Page 18 
  

 6. Definitions. Capitalized terms not defined in this PECA have the meaning given
to them in the Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below: 
 (a)
“Restricted Company” means The Boeing Company, General Dynamics Corporation, Northrop Grumman Corporation, the Raytheon Company, United Technologies Corporation, Honeywell International Inc., BAE Systems Inc., L-3 Communications
Corporation, the Harris Corporation, Thales, EADS North America and (i) any entity directly or indirectly controlling, controlled by, or under common control with any of the foregoing, and (ii) any successor to all or part of the business
of any of the foregoing as a result of a merger, reorganization, consolidation, spin-off, split-up, acquisition, divestiture, or similar transaction. 
 (b) “Competitive Products or Services” means products or services that compete with, or are an alternative or potential alternative to, products sold or services provided by a subsidiary,
business area, division or operating unit or business of the Corporation as of the Termination Date and at any time within the two-year period ending on the Termination Date; provided, that, (i) if I had direct responsibility for the business
of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services includes the
products so sold or the services so provided during that two-year period by the subsidiary, business area, division or operating unit of the Corporation for which I had responsibility, and (ii) if I did not have direct responsibility for the
business of, or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Corporation at any time within the two-year period ending on the Termination Date, Competitive Products or Services
includes the products so sold or the services so provided by a subsidiary, business area, division or operating unit of the Corporation for which I had access (or was required or permitted such access in the performance of my duties or
responsibilities with the Corporation) to Confidential or Proprietary Information of the Corporation at any time during the two-year period ending on the Termination Date. 
 7. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA
constitute the entire agreement governing the terms of the award of the LTIP to me. 
 (b) This PECA shall be governed by
Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both
parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 

 Award Date: January 30, 2012 
 Page 19 
  

 (c) This PECA shall inure to the benefit of the Corporation’s successors and
assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part
following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and
me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 

This PECA is effective as of the acceptance by me of the award of an LTIP under the Award Agreement and is not contingent on the
vesting of the LTIP. 

 Award Date: January 30, 2012 
 Page 20 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 LTIP CA PECA CEO (performance) 
 Award Date: January 30, 2012 
  
 

 
 Lockheed Martin Corporation 
 6801 Rockledge Drive, Bethesda, MD 20817 
 Telephone 301-897-6000 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER THE 
 SECURITIES ACT OF 1933

 «Name» 

«Street» 
 «City»,
«State» «Zip» 
  

	 	Re:	Lockheed Martin Corporation 2011 Incentive Performance Award Plan: Long-Term Incentive Performance Award (2012-2014 Performance Period) 

 Dear «Call_By_Name»: 
 On behalf of the Management Development and Compensation Committee (the “Committee”) of the Board of Directors of Lockheed Martin Corporation, I am pleased to tell you that you have been granted
a Long-Term Incentive Performance Award under the Corporation’s 2011 Incentive Performance Award Plan (the “Plan”). The purpose of this letter is to serve as the Award Agreement under such Plan and to set forth your Target Award as
well as the terms and conditions to the payment of your Target Award. Additional terms and conditions are set forth in the Plan and in the Prospectus relating to the Plan of which the Plan document and this Award Agreement are a part. The Prospectus
is available at http://www.benefitaccess.com. You should retain the Prospectus and the attached copy of the Plan in your records. 
 Your Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by returning an executed copy of this Award Agreement to the Vice President of Total Rewards and
Performance Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Section 14 and Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 

 Award Date: January 30, 2012 
 Page 2 
  

 Capitalized terms used in this Award Agreement which have a special meaning either shall
be defined in this Award Agreement or if not defined in this Award Agreement shall have the meaning ascribed to the term in the Plan. The term “Target Award” as used in this Award Agreement refers only to the Target Award awarded to you
under this Award Agreement and the term “Award” refers only to the Long Term Incentive Performance Award set forth in this Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries.
Appendix A contains an index of all capitalized terms used in this Award Agreement. 
  

	 	Section 1.	Target Award; Performance Period. 

 1.1 Target Award. Your Target Award for the Performance Period under this Award Agreement shall be [Target]. 
 1.2 Performance Period. The Performance Period under this Award Agreement is a three-year performance period that runs from January 1, 2012, until December 31, 2014. 

1.3 Payment of Award. The amount payable to you under your Award is dependent upon the Corporation’s performance as compared
to the metrics described in Section 3 and Section 4 of this Award Agreement and your continued employment with the Corporation in accordance with Section 5 of this Award Agreement. As a result of these requirements, any payments you
receive may be larger or smaller than your Target Award (e.g., the performance factors could result in no payment in respect of your Award). 
  

	 	Section 2.	Calculation of Award Payments. 

 2.1 End of Performance Period Calculation. Following the end of the Performance Period and prior to any payments being made, 
 (a) The Committee will calculate the Total Stockholder Return Performance Factor based on the Corporation’s performance during the Performance Period relative to the performance of other corporations
which compose the “Peer Performance Group” as defined in Section 3.1 below. 
 (b) The Committee will calculate
the ROIC Performance Factor based on the Corporation’s ROIC during the Performance Period as compared to the projected ROIC for the Performance Period in the 2012 Long Range Plan as presented at the February 2012 Board meeting. 

(c) The Committee will calculate the Cash Flow Performance Factor based on the Corporation’s cumulative Cash Flow during the
Performance Period as compared to the projected cumulative Cash Flow in the 2012 Long Range Plan as presented at the February 2012 Board meeting. 

 Award Date: January 30, 2012 
 Page 3 
  

 (d) Your “Potential Award” shall be calculated by multiplying the weighted
average of the Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow Performance Factor by your Target Award. The Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow
Performance Factor shall be weighted as follows in determining the weighted average of the three performance factors: 
  

					
	 Total Stockholder Return Performance Factor
	  	 	50	% 
	 ROIC Performance Factor
	  	 	25	% 
	 Cash Flow Performance Factor
	  	 	25	% 

 You must (except as specified in Section 5) remain employed by the Corporation through December 31, 2014, to
receive your Potential Award. 
  

	 	Section 3.	Total Stockholder Return Performance Factor. 

 3.1. Peer Performance Group. The Total Stockholder Return Performance Factor will be based upon the relative ranking of the Corporation’s Average Total Stockholder Return (as defined in
Section 3.2(a)) for the Performance Period to the Average Total Stockholder Return for such Period for each corporation in the “Peer Performance Group.” The “Peer Performance Group” shall consist of the corporations which
compose the Standard and Poor’s 500 Aerospace and Defense Index reported under symbol S5AERO by Bloomberg L.P. The Corporation’s Total Stockholder Return will be based on the performance of its common stock, par value $1.00. The Total
Stockholder Return of each corporation that is taken into account in computing the Peer Performance Group Total Stockholder Return will be based on the equity security of the relevant corporation that is used in computing the Standard and
Poor’s 500 Aerospace and Defense Index. 
 3.2. Calculation of Total Stockholder Return Performance Factor.

 (a) Calculation of Average Total Stockholder Return. During the Performance Period, the Committee shall compute the
Total Stockholder Return (as defined in the Plan and assuming the reinvestment of any cash dividends) for the Corporation and for each other corporation in the Peer Performance Group for thirty-six (36) periods during the Performance Period
where each period begins on January 1, 2012 (based on the closing price for the stock on December 31, 2011) and ends on the last day of each successive calendar month in the Performance Period on which the New York Stock Exchange is open
for trading. Each such Total Stockholder Return shall be computed from data available to the public. At the end of the Performance Period, the thirty-six (36) Total Stockholder Return figures for each corporation for the Performance Period will
be averaged to determine each corporation’s average Total Stockholder Return (“Average TSR”) for the Performance Period. Each corporation’s Average TSR shall be ranked among the Average TSR for each other corporation in the Peer
Performance Group on a percentile basis (using the Excel PERCENTRANK function). 

 Award Date: January 30, 2012 
 Page 4 
  

 (b) Percentage Level of Target Award. Your Total Stockholder Return Performance
Factor, expressed as a percentage, will be determined under this Section 3.2(b) (and Section 3.2(c) to the extent interpolation is necessary) based on the Percentile Ranking (as determined under Section 3.2(a)) of the
Corporation’s Average TSR for the Performance Period under the following chart: 
  

							
	 Band
	  	 Percentile Ranking
	  	Total Stockholder
Return Performance
Factor	 
	 One
	  	75th or higher	  	 	200	% 
	 Two
	  	60th	  	 	150	% 
	 Three
	  	50th	  	 	100	% 
	 Four
	  	40th	  	 	50	% 
	 Five
	  	35th	  	 	25	% 
	 Six
	  	Below 35th	  	 	0	% 

 (c) Total Stockholder Return Performance Factor Interpolation. If the Percentile Ranking as
determined under Section 3.2(a) puts the Corporation over the listed Percentile Ranking for the applicable Band (other than Band One) in Section 3.2(b), your Total Stockholder Return Performance Factor under Section 3.2(b) shall be
interpolated on a linear basis. 
  

	 	Section 4.	ROIC Performance Factor and Cash Flow Performance Factor. 

 4.1 ROIC Performance Factor. The ROIC Performance Factor will be determined by comparing the Corporation’s ROIC for the Performance Period to ROIC as forecasted for the Performance Period in
the Corporation’s 2012 Long Range Plan and then identifying the ROIC Performance Factor based upon the factor associated with the difference on the following table: 

 

					
	 Change from 2012 LRP
 ROIC
	  	ROIC Performance
Factor	 
	 Plan + 150 or more basis points
	  	 	200	% 
	 Plan + 120 basis points
	  	 	175	% 
	 Plan + 90 basis points
	  	 	150	% 
	 Plan + 60 basis points
	  	 	125	% 
	 Plan + 30 basis points
	  	 	100	% 
	 Plan
	  	 	75	% 
	 Plan – 15 basis points
	  	 	50	% 
	 Plan – 30 basis points
	  	 	25	% 
	 Plan – 45 or more basis points
	  	 	0	% 

 (a) ROIC Definition. For purposes of this Award Agreement, “ROIC” means return on
invested capital for the Performance Period calculated as (A) average annual (i) net income (excluding any charge or addition to net income resulting 

 Award Date: January 30, 2012 
 Page 5 
  

 
solely from adjustment of deferred tax assets and liabilities for the effect of enactment of corporate tax reform and related legislation that adjusts United States federal corporate income tax
rates) plus (ii) interest expense times one minus the highest marginal federal corporate tax rate over the three year Performance Period (“Return”), divided by (B) the average of the four year-end investment balances (beginning
with December 31, 2011 year-end balance) consisting of (i) debt (including current maturities of long-term debt) plus (ii) stockholders’ equity plus the postretirement plans amounts determined at year-end as included in the
Corporation’s Statement of Stockholders’ Equity.
 (b) ROIC Determination. Each component of ROIC and the
calculation of any postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity shall be determined by the Committee in accordance with generally accepted accounting principles in the United States and be
based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the date or period on which ROIC is being determined, the Committee shall make
its determination in a manner consistent with the historical practices used by the Corporation in determining the components of ROIC and postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity for
purposes of reporting those items on its audited financial statements, as modified by this paragraph. Notwithstanding the foregoing, ROIC will be adjusted to exclude the impact of any change in accounting standards or adoption of any new accounting
standards that is required under generally accepted accounting principles in the United States and that is reported in the Corporation’s filings with the Securities and Exchange Commission as having a material effect on the Corporation’s
consolidated financial statements. ROIC, as included in the 2012 Long Range Plan, and the change in ROIC for purposes of the ROIC Performance Factor will be determined in accordance with this Section 4.1(b). 

4.2 Cash Flow Performance Factor. The Cash Flow Performance Factor will be determined by comparing the Corporation’s
cumulative Cash Flow during the Performance Period to the projected cumulative Cash Flow of the Corporation as forecasted in the Corporation’s 2012 Long Range Plan, and then identifying the Cash Flow Performance Factor based upon the factor
associated with the change from the 2012 Long Range Plan on the following table: 
  

					
	 Change From 2012 LRP
 Cash Flow
	  	Cash Flow Performance
Factor	 
	 Plan + $2.7B or more
	  	 	200	% 
	 Plan + $2.3B
	  	 	175	% 
	 Plan + $2.0B
	  	 	150	% 
	 Plan + $1.7B
	  	 	125	% 
	 Plan + $1.0B
	  	 	100	% 
	 Plan + $0.3B
	  	 	75	% 
	 Plan
	  	 	50	% 
	 Plan - $0.3B
	  	 	25	% 
	 Plan - $0.7B or more
	  	 	0	% 

 Award Date: January 30, 2012 
 Page 6 
  

 (a) Cash Flow Definition. For purposes of this Award Agreement, Cash Flow means
net cash flow from operations but not taking into account: (i) the aggregate difference between the amount forecasted in the Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit
pension plans during the Performance Period and the actual amounts contributed by the Corporation during the Performance Period; or (ii) any tax payments or tax benefits during the Performance Period associated with the divestiture of business
units, other than tax payments or tax benefits that were included in the Corporation’s 2012 Long Range Plan. 
 (b) Cash
Flow Determination. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the
period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash provided by operating activities as reported in its audited
consolidated statement of cash flows, in either case as modified by this paragraph. 
 4.3 Interpolation of ROIC and Cash Flow
Metrics. If the change in ROIC or Cash Flow falls between two numbers listed in the applicable table in Section 4.1 or 4.2, the appropriate factor will be interpolated on a linear basis. Notwithstanding the foregoing, the ROIC Performance
Factor will always be zero if the ROIC for the Performance Period is less than ROIC forecasted for the Performance Period in the 2012 Long Range Plan by 45 basis points or more and the Cash Flow Performance Factor will always be zero if the
aggregate Cash Flow for the Performance Period is less than what was forecasted for the Performance Period in the 2012 Long Range Plan by more than $0.7 billion. 
  

	 	Section 5.	Payment of Award. 

5.1. Employment Requirement. 
 (a) General Rule. In order to be eligible to receive payment of your Potential Award as determined under Section 2.1(d), you must accept this Award Agreement and remain employed by the
Corporation through the last day of the Performance Period. Except as provided below, if your employment as an Employee terminates during the Performance Period, you shall forfeit your right to receive all or any part of your Potential Award.

 (b) Exceptions. Notwithstanding Section 5.1(a), if the Committee determines 

 Award Date: January 30, 2012 
 Page 7 
  

 (1) that your employment as an Employee terminated as a result of your death,
“Divestiture”, “Disability” or “Retirement” or 
 (2) that the Corporation terminated your
employment involuntarily as a result of a layoff, 
 you shall retain a fraction of your Potential Award. The numerator of such
fraction shall equal the number of days in the Performance Period before your employment as an Employee terminated, and the denominator shall equal the total number of days in the Performance Period. The Committee shall have complete and absolute
discretion to make the determinations called for under this Section 5.1(b), and all such determinations shall be binding on you and on any person who claims all or any part of your Potential Award on your behalf as well as on the Corporation.
If you terminate employment during the Performance Period but are eligible to receive a portion of your Potential Award as a result of an exception under this Section 5.1(b), payment of such portion of your Potential Award shall be in full
satisfaction of all rights you have under this Award Agreement. 
 (c) Special Definitions. For purposes of this Award
Agreement: 
 (1) Your employment as an Employee shall be treated as terminating because of a Disability on the date you become
eligible for a benefit under the Corporation’s long-term disability plan in which you participate, or if you are not enrolled in a long-term disability plan, the date on which long-term disability benefits would commence under the plan under
which you would have been covered, had you enrolled; 
 (2) Your employment as an Employee shall be treated as terminating as a
result of Divestiture if the Corporation divests all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation and a transfer of such employment to the
other party in the divestiture. A divestiture shall mean a transaction which results in the transfer of control of the business operation to any person, corporation, association, partnership, joint venture, limited liability company or other
business entity of which less than 50% of the voting stock or other equity interests are owned or controlled by the Corporation; and 
 (3) Your employment as an Employee shall be treated as terminating because of Retirement if (a) you participate in a defined benefit pension plan maintained by the Corporation, and your employment
terminates on or after the date on which you satisfy the plan’s age and service requirements for commencing receipt of an early retirement benefit under the plan or (b) you do not participate in a defined benefit pension plan maintained by
the Corporation, and your employment terminates after (i) you reach age 65, or (ii) you reach age 55 and have completed five years of service. 

 Award Date: January 30, 2012 
 Page 8 
  

 5.2. Payment Rules. 

(a) General Rule: Vesting; Method of Payment. If you are eligible to receive all, or a portion of, your Potential Award under
Section 5.1, your Potential Award shall be fully vested on the date on which the Committee certifies in writing (for purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance Period,
and shall be either paid in cash to you or deferred in accordance with Section 5.2(c). Subject to Section 5.2(c), in the event of your death, your payment will be made to your estate if you do not have a properly completed beneficiary
designation form on file with the Vice President of Total Rewards and Performance Management. 
 (b) Timing of Payment.
Subject to Section 5.2(c), you shall have the right to receive your Potential Award in cash as soon as administratively practicable, but no later than ninety (90) days after the date on which the Committee certifies in writing (for
purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance Period, but no later than March 15 following such certification date. 

(c) Deferral. You will be given an opportunity to elect to defer any amounts payable under Section 5.2 of this Award
Agreement. Such election shall be irrevocable, shall be made in accordance with the terms of the Lockheed Martin Corporation Deferred Management Incentive Compensation Plan (“DMICP”) and the requirements of Code section 409A, and shall be
subject to such additional terms and conditions as are set by the Committee. A deferral election form and the terms and conditions for any deferral will be furnished to you in due course. The beneficiary designation for the DMICP (rather than the
beneficiary designation for this Long Term Incentive Performance Award) shall govern any amounts deferred under the terms of the DMICP. 
 5.3. Cutback. Any payment called for under Section 5.2 will be reduced to the extent that such payment together with payments attributable to any other Cash-Based Awards that are granted
during 2012 as Performance Based Awards exceeds $10,000,000. Amounts in excess of $10,000,000 shall be forfeited. 
 5.4.
Withholding. Any payment made in respect of your Award will be subject to income tax withholding at the minimum rate prescribed by law. You may owe taxes in addition to the amount withheld and may request that tax be withheld at a greater
rate. As required under the law, FICA tax will be collected from you or withheld from the amount of your award or from your wages, when any portion of an award becomes vested for tax purposes prior to payment. 

 Award Date: January 30, 2012 
 Page 9 
  

 5.5. Means of Satisfying Code Section 409A. If any payment that would
otherwise be made under this Award Agreement is required to be delayed by reason of Section 13, such payment shall be made at the earliest date permitted by Code section 409A. The amount of any delayed payment shall be the amount that would
have been paid prior to the delay adjusted to include interest from the original payment date to the actual payment date, at a rate equivalent to the six month London Interbank Offered Rate (LIBOR) as published in the Money Rates section of the Wall
Street Journal, plus 25 basis points. The increase over LIBOR may be adjusted to reflect the six month unsecured borrowing rate of the Corporation. 
  

	 	Section 6.	No Assignment – General Creditor Status. 

 You shall have no right to assign any interest you might have in all or any part of the Target Award or Potential Award which has been granted to you under this Award Agreement and any attempt to do so
shall be null and void and shall have no force or effect whatsoever. Furthermore, all payments called for under this Award Agreement shall be made in cash from the Corporation’s general assets, and your right to payment from the
Corporation’s general assets shall be the same as the right of a general and unsecured creditor of the Corporation. 
  

	 	Section 7.	Plan. 

 This Award
Agreement shall be subject to all of the terms and conditions set forth in the Plan. 
  

	 	Section 8.	Change in Control. 

8.1. Change in Control During Performance Period. If during the Performance Period, a Change in Control (as defined in
Section 7 of the Plan) occurs, the Performance Period will terminate. Notwithstanding any deferral election or term of this Award Agreement to the contrary, a pro rata portion of your Award will be paid to you within fifteen (15) days of
the Change in Control. The prorated portion will be the sum of (i) the result obtained by first multiplying your Target Award by the Total Stockholder Return Performance Factor calculated under Section 3.2(b), but based upon the Total
Stockholder Return for the Corporation and the Peer Performance Group as of the last day of the month immediately preceding the Change in Control, and then further multiplying that product by a fraction, the numerator of which is the number of days
in the Performance Period prior to the Change in Control and the denominator of which is the total number of days in the Performance Period. 
 8.2. Special Rule. Notwithstanding Section 8.1, if a payment in accordance with those provisions would result in a nonexempt short-swing transaction under Section 16(b) of the Securities
Exchange Act of 1934, then the date of distribution to you shall be delayed until the earliest date upon which the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability under
Section 16(b) of the Securities Exchange Act of 1934. 

 Award Date: January 30, 2012 
 Page 10 
  

	 	Section 9.	Amendment and Termination. 

 As provided in Section 9 of the Plan, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time amend this Award Agreement. Notwithstanding the
foregoing, no such action by the Board of Directors or the Committee shall amend Sections 1, 2, 3, 4, or 5 in a manner adverse to you or reduce the amount payable hereunder in a material manner without your written consent. For this purpose, a
change in the amount payable hereunder that occurs solely by reason of a change in the date or form of payment shall in no case be treated as a reduction prohibited by this Section 9. Thus, for example, if an amount payable by reason of
Section 8 is delayed by an amendment to this Award Agreement or other action undertaken to comply with Section 409A of the Internal Revenue Code and the amount payable is reduced solely by reason of a corresponding delay in the date of
valuation of a share of the Corporation’s common stock, such a change shall not be treated as a reduction prohibited by this Section 9. This Section 9 shall be construed and applied so as to permit the Committee to amend this Award
Agreement at any time in any manner reasonably necessary or appropriate in order to comply with the requirements of Section 16 of the Securities Exchange Act of 1934 and of Code section 409A, including amendments regarding the timing and form
of payments hereunder. 
  

	 	Section 10.  	No Right to an Award; Value of Award. 

 Your status as an Employee shall not be construed as a commitment that any one or more awards shall be made under the Plan to you or to Employees generally. Your status as a Participant shall not entitle
you to any additional award. The value of the Award will not be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. 

 

	 	Section 11.  	No Assurance of Employment. 

 Nothing contained in the Plan or in this Award Agreement shall confer upon you any right to continue in the employ or other service of the Corporation or constitute any contract (of employment or
otherwise) or limit in any way the right of the Corporation to change your compensation or other benefits or to terminate your employment with or without cause. 
  

	 	Section 12.  	Conflict. 

 In the
event of a conflict between this Award Agreement and the Plan, the Plan document shall control. 
  

	 	Section 13.  	Compliance with Section 409A of the Internal Revenue Code. 

 Notwithstanding any other provision of this Award Agreement to the contrary, to the extent that this Award Agreement constitutes a nonqualified deferred compensation

 Award Date: January 30, 2012 
 Page 11 
  

 
plan to which Code section 409A applies, payments under this Award Agreement shall be made at a time and in a manner that satisfies the requirements of Code section 409A and guidance of general
applicability issued thereunder, including the provisions of 409A(a)(2)(B)(i) to the extent distributions to any specified employee are required to be delayed six months, and all terms shall be interpreted in accordance with Code section 409A.

  

	 	Section 14.  	Post-Employment Covenants & Stock Ownership Requirements. 

 By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained in Exhibit A to this Award Agreement and you acknowledge receipt
of the Stock Ownership Requirements (“Ownership Requirements”) attached as Exhibit B to this Award Agreement and agree to comply with such Ownership Requirements. If you are not a Vice President (or above) on January 30, 2012, but you
are promoted to Vice President (or above) prior to January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 

 

	 	Section 15.  	Execution. 

 No
Award is enforceable until you properly acknowledge your acceptance by returning an executed copy of this Award Agreement, as soon as possible but in no event later than May 31, 2012, to the Vice President of Total Rewards and Performance
Management, Lockheed Martin Corporation, Mail Point 123, 6801 Rockledge Drive, Bethesda, MD 20817. 

 Award Date: January 30, 2012 
 Page 12 
  

 By signing this Award Agreement, you consent to receive copies of the Prospectus
applicable to this Award from this internet site (http://www.benefitaccess.com) as well as to electronic delivery of the Corporation’s annual report on Form 10-K, annual proxy and quarterly reports on Form 10-Q. This consent can only be
withdrawn by written notice to the Senior Vice President, General Counsel, and Corporate Secretary, Lockheed Martin Corporation, 6801 Rockledge Drive, Bethesda, MD 20817. 
 A pre-addressed envelope has been enclosed for your convenience to return with a copy of this Award Agreement, as acknowledged by you below. 

 

	
	Sincerely,
	
	David A. Filomeo
	Vice President
	Total Rewards and Performance Management

 Enclosures 
 ACKNOWLEDGEMENT: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print or type
name
	  		  	

 Award Date: January 30, 2012 
 Page 13 
  

 Appendix A 
 Capitalized Terms 
  

			
	 Average TSR
	  	§ 3.2(a)
	 Award
	  	3rd ¶
	 Cash Flow
	  	§ 4.2(a)
	 Cash Flow Performance Factor
	  	§ 4.2
	 Change of Control
	  	Plan
	 Committee
	  	1st ¶
	 Corporation
	  	3rd ¶
	 Peer Performance Group
	  	§ 3.1
	 Performance Period
	  	§ 1.2
	 Plan
	  	1st ¶
	 Potential Award
	  	§ 2.1(d)
	 ROIC
	  	§ 4.1(a)
	 ROIC Performance Factor
	  	§ 4.1
	 Subsidiary
	  	Plan
	 Target Award
	  	3rd ¶, § 1.1
	 Total Stockholder Return
	  	Plan; § 3.2(a)
	 Total Stockholder Return Performance
	  	§ 3.1; § 3.2
	 Factor
	  	

 Award Date: January 30, 2012 
 Page 14 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (LTIP Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of a Long Term Incentive Performance Award to me under the Award Agreement (the “LTIP”) pursuant to the Lockheed
Martin Corporation 2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the LTIP, I agree as follows: 

1. Protective Covenants. 
 (a) Protection of Proprietary Information, including Trade Secrets and Confidential Information – Except to the extent required by law, following my Termination Date, and in conformance with
the provisions of the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.) and the California Unfair Competition Law (Cal. Business and Professional Code § 17220 et seq.), I will have
a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or Proprietary Information” (as defined below)
of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the terms of such agreements. I will not use or
disclose or allow the use or disclosure by others to any person or entity, for the purpose or effect of competing unfairly with the Corporation, of Confidential or Proprietary Information of the Corporation or others to which I had access or that I
was responsible for creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any
proprietary or confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel, and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the
Corporation for assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the
property of the Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to
information that a person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by
third parties or if used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not
limited to: 

 Award Date: January 30, 2012 
 Page 15 
  

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

 

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

 

	 	(iii)	any information protected by the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.). 

(b) Non-Solicit - Without the express written consent of the Chief Executive Officer of the Corporation,
during the two-year period following the Termination Date, I will not induce or attempt to induce any person who is an employee of the Corporation to perform work or services for any entity other than the Corporation. This provision does not prevent
the hiring of such persons so long as they are not induced to be one employed in violation of this provision. 
 (c) No
disparagement – Following the Termination Date, I will not make any statements, whether verbal or written, that disparage or reasonably may be interpreted to disparage the Corporation or its stockholders, directors, officers, employees,
agents, attorneys, representatives, technology, products or services with respect to any matter whatsoever. 
 (d)
Cooperation in Litigation and Investigations - Following the Termination Date, I will, to the extent reasonably requested, cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution
proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates is a party or is required or requested to provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could
be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision of this PECA, nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation
or to give truthful testimony in court. 
 2. Consideration and Acknowledgement. I acknowledge and agree that the
benefits and compensation opportunities being made available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the
Corporation and that the grant of the LTIP is expressly made contingent upon my agreements with the 

 Award Date: January 30, 2012 
 Page 16 
  

 
Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value
of the benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to
and extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon
demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 

 

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

  

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

  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not be
the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the LTIP,
any cash paid to me, whether paid currently or deferred; and (ii) to the extent I have not earned the LTIP fully, all of my remaining rights, title or interest in the LTIP. 

 Award Date: January 30, 2012 
 Page 17 
  

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

(b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or
challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United
States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA shall
inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of
my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 

This PECA is effective as of the acceptance by me of the award of an LTIP under the Award Agreement and is not contingent on the
vesting of the LTIP. 

 Award Date: January 30, 2012 
 Page 18 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	 Annual Base Pay Multiple

	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 LTIP CA PECA SVPHR (performance) 
 Award Date: January 30, 2012 
  
 

 
 Lockheed Martin Corporation 
 6801 Rockledge Drive, Bethesda, MD 20817 
 Telephone 301-897-6000 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER THE 
 SECURITIES ACT OF 1933

 «Name» 

«Street» 
 «City»,
«State» «Zip» 
  

	 	Re:	Lockheed Martin Corporation 2011 Incentive Performance Award Plan: Long-Term Incentive Performance Award (2012-2014 Performance Period) 

 Dear «Call_By_Name»: 
 On behalf of the Management Development and Compensation Committee (the “Committee”) of the Board of Directors of Lockheed Martin Corporation, I am pleased to tell you that you have been granted
a Long-Term Incentive Performance Award under the Corporation’s 2011 Incentive Performance Award Plan (the “Plan”). The purpose of this letter is to serve as the Award Agreement under such Plan and to set forth your Target Award as
well as the terms and conditions to the payment of your Target Award. Additional terms and conditions are set forth in the Plan and in the Prospectus relating to the Plan of which the Plan document and this Award Agreement are a part. The Prospectus
is available at http://www.benefitaccess.com. You should retain the Prospectus and the attached copy of the Plan in your records. 
 Your Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by returning an executed copy of this Award Agreement to the Vice President of Total Rewards and
Performance Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Section 14 and Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 

 Award Date: January 30, 2012 
 Page 2 
  

 Capitalized terms used in this Award Agreement which have a special meaning either shall
be defined in this Award Agreement or if not defined in this Award Agreement shall have the meaning ascribed to the term in the Plan. The term “Target Award” as used in this Award Agreement refers only to the Target Award awarded to you
under this Award Agreement and the term “Award” refers only to the Long Term Incentive Performance Award set forth in this Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries.
Appendix A contains an index of all capitalized terms used in this Award Agreement. 
  

	 	Section 1.	Target Award; Performance Period. 

 1.1 Target Award. Your Target Award for the Performance Period under this Award Agreement shall be [Target]. 
 1.2 Performance Period. The Performance Period under this Award Agreement is a three-year performance period that runs from January 1, 2012, until December 31, 2014. 

1.3 Payment of Award. The amount payable to you under your Award is dependent upon the Corporation’s performance as compared
to the metrics described in Section 3 and Section 4 of this Award Agreement and your continued employment with the Corporation in accordance with Section 5 of this Award Agreement. As a result of these requirements, any payments you
receive may be larger or smaller than your Target Award (e.g., the performance factors could result in no payment in respect of your Award). 
  

	 	Section 2.	Calculation of Award Payments. 

 2.1 End of Performance Period Calculation. Following the end of the Performance Period and prior to any payments being made, 
 (a) The Committee will calculate the Total Stockholder Return Performance Factor based on the Corporation’s performance during the Performance Period relative to the performance of other corporations
which compose the “Peer Performance Group” as defined in Section 3.1 below. 
 (b) The Committee will calculate
the ROIC Performance Factor based on the Corporation’s ROIC during the Performance Period as compared to the projected ROIC for the Performance Period in the 2012 Long Range Plan as presented at the February 2012 Board meeting. 

(c) The Committee will calculate the Cash Flow Performance Factor based on the Corporation’s cumulative Cash Flow during the
Performance Period as compared to the projected cumulative Cash Flow in the 2012 Long Range Plan as presented at the February 2012 Board meeting. 

 Award Date: January 30, 2012 
 Page 3 
  

 (d) Your “Potential Award” shall be calculated by multiplying the weighted
average of the Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow Performance Factor by your Target Award. The Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow
Performance Factor shall be weighted as follows in determining the weighted average of the three performance factors: 
  

					
	 Total Stockholder Return Performance Factor
	  	 	50	% 
	 ROIC Performance Factor
	  	 	25	% 
	 Cash Flow Performance Factor
	  	 	25	% 

 You must (except as specified in Section 5) remain employed by the Corporation through December 31, 2014, to
receive your Potential Award. 
  

	 	Section 3.	Total Stockholder Return Performance Factor. 

 3.1. Peer Performance Group. The Total Stockholder Return Performance Factor will be based upon the relative ranking of the Corporation’s Average Total Stockholder Return (as defined in
Section 3.2(a)) for the Performance Period to the Average Total Stockholder Return for such Period for each corporation in the “Peer Performance Group.” The “Peer Performance Group” shall consist of the corporations which
compose the Standard and Poor’s 500 Aerospace and Defense Index reported under symbol S5AERO by Bloomberg L.P. The Corporation’s Total Stockholder Return will be based on the performance of its common stock, par value $1.00. The Total
Stockholder Return of each corporation that is taken into account in computing the Peer Performance Group Total Stockholder Return will be based on the equity security of the relevant corporation that is used in computing the Standard and
Poor’s 500 Aerospace and Defense Index. 
 3.2. Calculation of Total Stockholder Return Performance Factor.

 (a) Calculation of Average Total Stockholder Return. During the Performance Period, the Committee shall compute the
Total Stockholder Return (as defined in the Plan and assuming the reinvestment of any cash dividends) for the Corporation and for each other corporation in the Peer Performance Group for thirty-six (36) periods during the Performance Period
where each period begins on January 1, 2012 (based on the closing price for the stock on December 31, 2011) and ends on the last day of each successive calendar month in the Performance Period on which the New York Stock Exchange is open
for trading. Each such Total Stockholder Return shall be computed from data available to the public. At the end of the Performance Period, the thirty-six (36) Total Stockholder Return figures for each corporation for the Performance Period will
be averaged to determine each corporation’s average Total Stockholder Return (“Average TSR”) for the Performance Period. Each corporation’s Average TSR shall be ranked among the Average TSR for each other corporation in the Peer
Performance Group on a percentile basis (using the Excel PERCENTRANK function). 

 Award Date: January 30, 2012 
 Page 4 
  

 (b) Percentage Level of Target Award. Your Total Stockholder Return Performance
Factor, expressed as a percentage, will be determined under this Section 3.2(b) (and Section 3.2(c) to the extent interpolation is necessary) based on the Percentile Ranking (as determined under Section 3.2(a)) of the
Corporation’s Average TSR for the Performance Period under the following chart: 
  

							
	 Band
	  	 Percentile Ranking
	  	Total Stockholder
Return Performance
Factor	 
	 One
	  	75th or higher	  	 	200	% 
	 Two
	  	60th	  	 	150	% 
	 Three
	  	50th	  	 	100	% 
	 Four
	  	40th	  	 	50	% 
	 Five
	  	35th	  	 	25	% 
	 Six
	  	Below 35th	  	 	0	% 

 (c) Total Stockholder Return Performance Factor Interpolation. If the Percentile Ranking as
determined under Section 3.2(a) puts the Corporation over the listed Percentile Ranking for the applicable Band (other than Band One) in Section 3.2(b), your Total Stockholder Return Performance Factor under Section 3.2(b) shall be
interpolated on a linear basis. 
  

	 	Section 4.	ROIC Performance Factor and Cash Flow Performance Factor. 

 4.1 ROIC Performance Factor. The ROIC Performance Factor will be determined by comparing the Corporation’s ROIC for the Performance Period to ROIC as forecasted for the Performance Period in
the Corporation’s 2012 Long Range Plan and then identifying the ROIC Performance Factor based upon the factor associated with the difference on the following table: 

 

					
	 Change from 2012 LRP
 ROIC
	  	ROIC Performance
Factor	 
	 Plan + 150 or more basis points
	  	 	200	% 
	 Plan + 120 basis points
	  	 	175	% 
	 Plan + 90 basis points
	  	 	150	% 
	 Plan + 60 basis points
	  	 	125	% 
	 Plan + 30 basis points
	  	 	100	% 
	 Plan
	  	 	75	% 
	 Plan – 15 basis points
	  	 	50	% 
	 Plan – 30 basis points
	  	 	25	% 
	 Plan – 45 or more basis points
	  	 	0	% 

 (a) ROIC Definition. For purposes of this Award Agreement, “ROIC” means return on
invested capital for the Performance Period calculated as (A) average annual (i) net income (excluding any charge or addition to net income resulting 

 Award Date: January 30, 2012 
 Page 5 
  

 solely from adjustment of deferred tax assets and liabilities for the effect of
enactment of corporate tax reform and related legislation that adjusts United States federal corporate income tax rates) plus (ii) interest expense times one minus the highest marginal federal corporate tax rate over the three year Performance
Period (“Return”), divided by (B) the average of the four year-end investment balances (beginning with December 31, 2011 year-end balance) consisting of (i) debt (including current maturities of long-term debt) plus
(ii) stockholders’ equity plus the postretirement plans amounts determined at year-end as included in the Corporation’s Statement of Stockholders’ Equity. 
 (b) ROIC Determination. Each component of ROIC and the calculation of any postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity shall be determined
by the Committee in accordance with generally accepted accounting principles in the United States and be based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial
statements are not available for the date or period on which ROIC is being determined, the Committee shall make its determination in a manner consistent with the historical practices used by the Corporation in determining the components of ROIC and
postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity for purposes of reporting those items on its audited financial statements, as modified by this paragraph. Notwithstanding the foregoing, ROIC will
be adjusted to exclude the impact of any change in accounting standards or adoption of any new accounting standards that is required under generally accepted accounting principles in the United States and that is reported in the Corporation’s
filings with the Securities and Exchange Commission as having a material effect on the Corporation’s consolidated financial statements. ROIC, as included in the 2012 Long Range Plan, and the change in ROIC for purposes of the ROIC Performance
Factor will be determined in accordance with this Section 4.1(b). 
 4.2 Cash Flow Performance Factor. The Cash Flow
Performance Factor will be determined by comparing the Corporation’s cumulative Cash Flow during the Performance Period to the projected cumulative Cash Flow of the Corporation as forecasted in the Corporation’s 2012 Long Range Plan, and
then identifying the Cash Flow Performance Factor based upon the factor associated with the change from the 2012 Long Range Plan on the following table: 
  

					
	 Change From 2012 LRP
 Cash Flow
	  	Cash Flow Performance
Factor	 
	 Plan + $2.7B or more
	  	 	200	% 
	 Plan + $2.3B
	  	 	175	% 
	 Plan + $2.0B
	  	 	150	% 
	 Plan + $1.7B
	  	 	125	% 
	 Plan + $1.0B
	  	 	100	% 
	 Plan + $0.3B
	  	 	75	% 
	 Plan
	  	 	50	% 
	 Plan - $0.3B
	  	 	25	% 
	 Plan - $0.7B or more
	  	 	0	% 

 Award Date: January 30, 2012 
 Page 6 
  

	 	(a)	Cash Flow Definition. For purposes of this Award Agreement, Cash Flow means net cash flow from operations but not taking into account: (i) the aggregate
difference between the amount forecasted in the Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit pension plans during the Performance Period and the actual amounts contributed by
the Corporation during the Performance Period; or (ii) any tax payments or tax benefits during the Performance Period associated with the divestiture of business units, other than tax payments or tax benefits that were included in the
Corporation’s 2012 Long Range Plan. 

  

	 	(b)	Cash Flow Determination. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated
financial statements or, if audited financial statements are not available for the period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation
in determining net cash provided by operating activities as reported in its audited consolidated statement of cash flows, in either case as modified by this paragraph. 

4.3 Interpolation of ROIC and Cash Flow Metrics. If the change in ROIC or Cash Flow falls between two numbers listed in the
applicable table in Section 4.1 or 4.2, the appropriate factor will be interpolated on a linear basis. Notwithstanding the foregoing, the ROIC Performance Factor will always be zero if the ROIC for the Performance Period is less than ROIC
forecasted for the Performance Period in the 2012 Long Range Plan by 45 basis points or more and the Cash Flow Performance Factor will always be zero if the aggregate Cash Flow for the Performance Period is less than what was forecasted for the
Performance Period in the 2012 Long Range Plan by more than $0.7 billion. 
  

	 	Section 5.	Payment of Award. 

5.1. Employment Requirement. 
 (a) General Rule. In order to be eligible to receive payment of your Potential Award as determined under Section 2.1(d), you must accept this Award Agreement and remain employed by the
Corporation through the last day of the Performance Period. Except as provided below, if your employment as an Employee terminates during the Performance Period, you shall forfeit your right to receive all or any part of your Potential Award.

 (b) Exceptions. Notwithstanding Section 5.1(a), if the Committee determines 

 Award Date: January 30, 2012 
 Page 7 
  

 (1) that your employment as an Employee terminated as a result of your death,
“Divestiture”, “Disability” or “Retirement” or 
 (2) that the Corporation terminated your
employment involuntarily as a result of a layoff, 
 you shall retain a fraction of your Potential Award. The numerator of such
fraction shall equal the number of days in the Performance Period before your employment as an Employee terminated, and the denominator shall equal the total number of days in the Performance Period. The Committee shall have complete and absolute
discretion to make the determinations called for under this Section 5.1(b), and all such determinations shall be binding on you and on any person who claims all or any part of your Potential Award on your behalf as well as on the Corporation.
If you terminate employment during the Performance Period but are eligible to receive a portion of your Potential Award as a result of an exception under this Section 5.1(b), payment of such portion of your Potential Award shall be in full
satisfaction of all rights you have under this Award Agreement. 
 (c) Special Definitions. For purposes of this Award
Agreement: 
 (1) Your employment as an Employee shall be treated as terminating because of a Disability on the date you become
eligible for a benefit under the Corporation’s long-term disability plan in which you participate, or if you are not enrolled in a long-term disability plan, the date on which long-term disability benefits would commence under the plan under
which you would have been covered, had you enrolled; 
 (2) Your employment as an Employee shall be treated as terminating as a
result of Divestiture if the Corporation divests all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation and a transfer of such employment to the
other party in the divestiture. A divestiture shall mean a transaction which results in the transfer of control of the business operation to any person, corporation, association, partnership, joint venture, limited liability company or other
business entity of which less than 50% of the voting stock or other equity interests are owned or controlled by the Corporation; and 
 (3) Your employment as an Employee shall be treated as terminating because of Retirement if (a) you participate in a defined benefit pension plan maintained by the Corporation, and your employment
terminates on or after the date on which you satisfy the plan’s age and service requirements for commencing receipt of an early retirement benefit under the plan or (b) you do not participate in a defined benefit pension plan maintained by
the Corporation, and your employment terminates after (i) you reach age 65, or (ii) you reach age 55 and have completed five years of service. 

 Award Date: January 30, 2012 
 Page 8 
  

 5.2. Payment Rules. 

(a) General Rule: Vesting; Method of Payment. If you are eligible to receive all, or a portion of, your Potential Award under
Section 5.1, your Potential Award shall be fully vested on the date on which the Committee certifies in writing (for purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance Period,
and shall be either paid in cash to you or deferred in accordance with Section 5.2(c). Subject to Section 5.2(c), in the event of your death, your payment will be made to your estate if you do not have a properly completed beneficiary
designation form on file with the Vice President of Total Rewards and Performance Management. 
 (b) Timing of Payment.
Subject to Section 5.2(c), you shall have the right to receive your Potential Award in cash as soon as administratively practicable, but no later than ninety (90) days after the date on which the Committee certifies in writing (for
purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance Period, but no later than March 15 following such certification date. 

(c) Deferral. You will be given an opportunity to elect to defer any amounts payable under Section 5.2 of this Award
Agreement. Such election shall be irrevocable, shall be made in accordance with the terms of the Lockheed Martin Corporation Deferred Management Incentive Compensation Plan (“DMICP”) and the requirements of Code section 409A, and shall be
subject to such additional terms and conditions as are set by the Committee. A deferral election form and the terms and conditions for any deferral will be furnished to you in due course. The beneficiary designation for the DMICP (rather than the
beneficiary designation for this Long Term Incentive Performance Award) shall govern any amounts deferred under the terms of the DMICP. 
 5.3. Cutback. Any payment called for under Section 5.2 will be reduced to the extent that such payment together with payments attributable to any other Cash-Based Awards that are granted
during 2012 as Performance Based Awards exceeds $10,000,000. Amounts in excess of $10,000,000 shall be forfeited. 
 5.4.
Withholding. Any payment made in respect of your Award will be subject to income tax withholding at the minimum rate prescribed by law. You may owe taxes in addition to the amount withheld and may request that tax be withheld at a greater
rate. As required under the law, FICA tax will be collected from you or withheld from the amount of your award or from your wages, when any portion of an award becomes vested for tax purposes prior to payment. 

5.5. Means of Satisfying Code Section 409A. If any payment that would otherwise be made under this Award Agreement is
required to be delayed by reason of 

 Award Date: January 30, 2012 
 Page 9 
  

 
Section 13, such payment shall be made at the earliest date permitted by Code section 409A. The amount of any delayed payment shall be the amount that would have been paid prior to the delay
adjusted to include interest from the original payment date to the actual payment date, at a rate equivalent to the six month London Interbank Offered Rate (LIBOR) as published in the Money Rates section of the Wall Street Journal, plus 25 basis
points. The increase over LIBOR may be adjusted to reflect the six month unsecured borrowing rate of the Corporation. 
  

	 	Section 6.	No Assignment – General Creditor Status. 

 You shall have no right to assign any interest you might have in all or any part of the Target Award or Potential Award which has been granted to you under this Award Agreement and any attempt to do so
shall be null and void and shall have no force or effect whatsoever. Furthermore, all payments called for under this Award Agreement shall be made in cash from the Corporation’s general assets, and your right to payment from the
Corporation’s general assets shall be the same as the right of a general and unsecured creditor of the Corporation. 
  

	 	Section 7.	Plan. 

 This Award
Agreement shall be subject to all of the terms and conditions set forth in the Plan. 
  

	 	Section 8.	Change in Control.  

 8.1. Change in Control During Performance Period. If during the Performance Period, a Change in Control (as defined in Section 7 of the Plan) occurs, the Performance Period will
terminate. Notwithstanding any deferral election or term of this Award Agreement to the contrary, a pro rata portion of your Award will be paid to you within fifteen (15) days of the Change in Control. The prorated portion will be the sum of
(i) the result obtained by first multiplying your Target Award by the Total Stockholder Return Performance Factor calculated under Section 3.2(b), but based upon the Total Stockholder Return for the Corporation and the Peer Performance
Group as of the last day of the month immediately preceding the Change in Control, and then further multiplying that product by a fraction, the numerator of which is the number of days in the Performance Period prior to the Change in Control and the
denominator of which is the total number of days in the Performance Period. 
 8.2. Special Rule. Notwithstanding
Section 8.1, if a payment in accordance with those provisions would result in a nonexempt short-swing transaction under Section 16(b) of the Securities Exchange Act of 1934, then the date of distribution to you shall be delayed until the
earliest date upon which the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability under Section 16(b) of the Securities Exchange Act of 1934. 

 Award Date: January 30, 2012 
 Page 10 
  

	 	Section 9.	Amendment and Termination. 

 As provided in Section 9 of the Plan, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time amend this Award Agreement. Notwithstanding the
foregoing, no such action by the Board of Directors or the Committee shall amend Sections 1, 2, 3, 4, or 5 in a manner adverse to you or reduce the amount payable hereunder in a material manner without your written consent. For this purpose, a
change in the amount payable hereunder that occurs solely by reason of a change in the date or form of payment shall in no case be treated as a reduction prohibited by this Section 9. Thus, for example, if an amount payable by reason of
Section 8 is delayed by an amendment to this Award Agreement or other action undertaken to comply with Section 409A of the Internal Revenue Code and the amount payable is reduced solely by reason of a corresponding delay in the date of
valuation of a share of the Corporation’s common stock, such a change shall not be treated as a reduction prohibited by this Section 9. This Section 9 shall be construed and applied so as to permit the Committee to amend this Award
Agreement at any time in any manner reasonably necessary or appropriate in order to comply with the requirements of Section 16 of the Securities Exchange Act of 1934 and of Code section 409A, including amendments regarding the timing and form
of payments hereunder. 
  

	 	Section 10.	  No Right to an Award; Value of Award. 

 Your status as an Employee shall not be construed as a commitment that any one or more awards shall be made under the Plan to you or to Employees generally. Your status as a Participant shall not entitle
you to any additional award. The value of the Award will not be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. 

 

	 	Section 11.	  No Assurance of Employment. 

 Nothing contained in the Plan or in this Award Agreement shall confer upon you any right to continue in the employ or other service of the Corporation or constitute any contract (of employment or
otherwise) or limit in any way the right of the Corporation to change your compensation or other benefits or to terminate your employment with or without cause. 
  

	 	Section 12.	  Conflict. 

 In the event of a conflict between this Award Agreement and the Plan, the Plan document shall control. 
  

	 	Section 13.	  Compliance with Section 409A of the Internal Revenue Code. 

Notwithstanding any other provision of this Award Agreement to the contrary, to the extent that this Award Agreement constitutes a
nonqualified deferred compensation plan to which Code section 409A applies, payments under this Award Agreement shall be made at a time and in a manner that satisfies the requirements of Code section 409A and

 Award Date: January 30, 2012 
 Page 11 
  

 
guidance of general applicability issued thereunder, including the provisions of 409A(a)(2)(B)(i) to the extent distributions to any specified employee are required to be delayed six months, and
all terms shall be interpreted in accordance with Code section 409A. 
  

	 	Section 14.	  Post-Employment Covenants & Stock Ownership Requirements. 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement and you acknowledge receipt of the Stock Ownership Requirements (“Ownership Requirements”) attached as Exhibit B to this Award Agreement and agree to comply with such Ownership Requirements. If you are
not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or
above). 
  

	 	Section 15.	  Execution. 

 No Award is enforceable until you properly acknowledge your acceptance by returning an executed copy of this Award Agreement, as soon as possible but in no event later than May 31, 2012, to the Vice
President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801 Rockledge Drive, Bethesda, MD 20817. 

 Award Date: January 30, 2012 
 Page 12 
  

 By signing this Award Agreement, you consent to receive copies of the Prospectus
applicable to this Award from this internet site (http://www.benefitaccess.com) as well as to electronic delivery of the Corporation’s annual report on Form 10-K, annual proxy and quarterly reports on Form 10-Q. This consent can only be
withdrawn by written notice to the Senior Vice President, General Counsel, and Corporate Secretary, Lockheed Martin Corporation, 6801 Rockledge Drive, Bethesda, MD 20817. 
 A pre-addressed envelope has been enclosed for your convenience to return with a copy of this Award Agreement, as acknowledged by you below. 

 

	
	Sincerely,
	
	David A. Filomeo
	Vice President
	 Total Rewards and Performance

Management

 Enclosures 
 ACKNOWLEDGEMENT: 
  

					
	  
	 		 	 

	Signature	 		 	Date
			
	  
	 		 	
	Print or type name	 		 	

 Award Date: January 30, 2012 
 Page 13 
  

 Appendix A 
 Capitalized Terms 
  

			
	Average TSR	  	§ 3.2(a)
	Award	  	3rd ¶
	Cash Flow	  	§ 4.2(a)
	Cash Flow Performance Factor	  	§ 4.2
	Change of Control	  	Plan
	Committee	  	1st ¶
	Corporation	  	3rd ¶
	Peer Performance Group	  	§ 3.1
	Performance Period	  	§ 1.2
	Plan	  	1st ¶
	Potential Award	  	§ 2.1(d)
	ROIC	  	§ 4.1(a)
	ROIC Performance Factor	  	§ 4.1
	Subsidiary	  	Plan
	Target Award	  	3rd ¶, § 1.1
	Total Stockholder Return	  	Plan; 3.2(a)
	Total Stockholder Return Performance	  	§ 3.1; § 3.2
	Factor	  	

 Award Date: January 30, 2012 
 Page 14 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (LTIP Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of a Long Term Incentive Performance Award to me under the Award Agreement (the “LTIP”) pursuant to the Lockheed
Martin Corporation 2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the LTIP, I agree as follows: 

1. Protective Covenants 
 (a) Protection of Proprietary Information, including Trade Secrets and Confidential Information – Except to the extent required by law, following my Termination Date, and in conformance with
the provisions of the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.) and the California Unfair Competition Law (Cal. Business and Professional Code § 17220 et seq.), I will have
a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or Proprietary Information” (as defined below)
of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the terms of such agreements. I will not use or
disclose or allow the use or disclosure by others to any person or entity, for the purpose or effect of competing unfairly with the Corporation, of Confidential or Proprietary Information of the Corporation or others to which I had access or that I
was responsible for creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any
proprietary or confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel, and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the
Corporation for assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the
property of the Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to
information that a person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by
third parties or if used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not
limited to: 

 Award Date: January 30, 2012 
 Page 15 
  

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

 

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

 

	 	(iii)	any information protected by the California Uniform Trade Secrets Act (Cal. Civil Code § 3426, et seq.). 

(b) Non-Solicit – Without the express written consent of the Senior Vice President, Human Resources of
the Corporation, during the one-year period following the Termination Date, I will not induce or attempt to induce any person who is an employee of the Corporation to perform work or services for any entity other than the Corporation. This provision
does not prevent the hiring of such persons so long as they are not induced to be one employed in violation of this provision. 

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

(d) Cooperation in Litigation and Investigations – Following the Termination Date, I will, to the extent reasonably
requested, cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates is a party or is required or
requested to provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision
of this PECA, nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 
 2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made available to me under the Award Agreement are in addition to the benefits
and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and 

 Award Date: January 30, 2012 
 Page 16 
  

 
that the grant of the LTIP is expressly made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in
Section 1 are necessary to be effective and are fair and reasonable in light of the value of the benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of
the high level executive and management positions I hold with the Corporation and the access to and extensive knowledge of the Corporation’s Confidential or Proprietary Information, employees, suppliers and customers, these restrictions are
reasonably required for the protection of the Corporation’s legitimate business interests. 
 3. Remedies For Breach of
Section 1; Additional Remedies of Clawback and Recoupment. 
 (a) If I become (or currently am) an Insider (as defined
in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following
occur: 
  

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

  

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

  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not be
the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

 Award Date: January 30, 2012 
 Page 17 
  

 (c) For purposes of this Section 3, “Benefits and Proceeds” means
(i) to the extent I have earned any of the LTIP, any cash paid to me, whether paid currently or deferred; and (ii) to the extent I have not earned the LTIP fully, all of my remaining rights, title or interest in the LTIP. 

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

6. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the LTIP to me. 

(b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any enforcement of, or
challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the United
States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA shall
inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of
my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 

This PECA is effective as of the acceptance by me of the award of an LTIP under the Award Agreement and is not contingent on the
vesting of the LTIP. 

 Award Date: January 30, 2012 
 Page 18 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	Annual Base Pay Multiple
	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 LTIP PECA Attorney (performance) 
 Award Date: January 30, 2012 
  
 

 
 Lockheed Martin Corporation 
 6801 Rockledge Drive, Bethesda, MD 20817 
 Telephone 301-897-6000 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER THE 
 SECURITIES ACT OF 1933

 «Name» 

«Street» 
 «City»,
«State» «Zip» 
  

	 	Re:	Lockheed Martin Corporation 2011 Incentive Performance Award Plan: Long-Term Incentive Performance Award (2012-2014 Performance Period) 

 Dear «Call_By_Name»: 
 On behalf of the Management Development and Compensation Committee (the “Committee”) of the Board of Directors of Lockheed Martin Corporation, I am pleased to tell you that you have been granted
a Long-Term Incentive Performance Award under the Corporation’s 2011 Incentive Performance Award Plan (the “Plan”). The purpose of this letter is to serve as the Award Agreement under such Plan and to set forth your Target Award as
well as the terms and conditions to the payment of your Target Award. Additional terms and conditions are set forth in the Plan and in the Prospectus relating to the Plan of which the Plan document and this Award Agreement are a part. The Prospectus
is available at http://www.benefitaccess.com. You should retain the Prospectus and the attached copy of the Plan in your records. 
 Your Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by returning an executed copy of this Award Agreement to the Vice President of Total Rewards and
Performance Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Section 14 and Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 

 Award Date: January 30, 2012 
 Page 2 
  

 Capitalized terms used in this Award Agreement which have a special meaning either shall
be defined in this Award Agreement or if not defined in this Award Agreement shall have the meaning ascribed to the term in the Plan. The term “Target Award” as used in this Award Agreement refers only to the Target Award awarded to you
under this Award Agreement and the term “Award” refers only to the Long Term Incentive Performance Award set forth in this Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries.
Appendix A contains an index of all capitalized terms used in this Award Agreement. 
  

	 	Section 1.	Target Award; Performance Period. 

 1.1 Target Award. Your Target Award for the Performance Period under this Award Agreement shall be [Target]. 
 1.2 Performance Period. The Performance Period under this Award Agreement is a three-year performance period that runs from January 1, 2012, until December 31, 2014. 

1.3 Payment of Award. The amount payable to you under your Award is dependent upon the Corporation’s performance as compared
to the metrics described in Section 3 and Section 4 of this Award Agreement and your continued employment with the Corporation in accordance with Section 5 of this Award Agreement. As a result of these requirements, any payments you
receive may be larger or smaller than your Target Award (e.g., the performance factors could result in no payment in respect of your Award). 
  

	 	Section 2.	Calculation of Award Payments. 

 2.1 End of Performance Period Calculation. Following the end of the Performance Period and prior to any payments being made, 
 (a) The Committee will calculate the Total Stockholder Return Performance Factor based on the Corporation’s performance during the Performance Period relative to the performance of other corporations
which compose the “Peer Performance Group” as defined in Section 3.1 below. 
 (b) The Committee will calculate
the ROIC Performance Factor based on the Corporation’s ROIC during the Performance Period as compared to the projected ROIC for the Performance Period in the 2012 Long Range Plan as presented at the February 2012 Board meeting. 

(c) The Committee will calculate the Cash Flow Performance Factor based on the Corporation’s cumulative Cash Flow during the
Performance Period as compared to the projected cumulative Cash Flow in the 2012 Long Range Plan as presented at the February 2012 Board meeting. 

 Award Date: January 30, 2012 
 Page 3 
  

 (d) Your “Potential Award” shall be calculated by multiplying the weighted
average of the Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow Performance Factor by your Target Award. The Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow
Performance Factor shall be weighted as follows in determining the weighted average of the three performance factors: 
  

					
	 Total Stockholder Return Performance Factor
	  	 	50	% 
	 ROIC Performance Factor
	  	 	25	% 
	 Cash Flow Performance Factor
	  	 	25	% 

 You must (except as specified in Section 5) remain employed by the Corporation through December 31, 2014, to
receive your Potential Award. 
  

	 	Section 3.	Total Stockholder Return Performance Factor. 

 3.1. Peer Performance Group. The Total Stockholder Return Performance Factor will be based upon the relative ranking of the Corporation’s Average Total Stockholder Return (as defined in
Section 3.2(a)) for the Performance Period to the Average Total Stockholder Return for such Period for each corporation in the “Peer Performance Group.” The “Peer Performance Group” shall consist of the corporations which
compose the Standard and Poor’s 500 Aerospace and Defense Index reported under symbol S5AERO by Bloomberg L.P. The Corporation’s Total Stockholder Return will be based on the performance of its common stock, par value $1.00. The Total
Stockholder Return of each corporation that is taken into account in computing the Peer Performance Group Total Stockholder Return will be based on the equity security of the relevant corporation that is used in computing the Standard and
Poor’s 500 Aerospace and Defense Index. 
 3.2. Calculation of Total Stockholder Return Performance Factor.

 (a) Calculation of Average Total Stockholder Return. During the Performance Period, the Committee shall compute the
Total Stockholder Return (as defined in the Plan and assuming the reinvestment of any cash dividends) for the Corporation and for each other corporation in the Peer Performance Group for thirty-six (36) periods during the Performance Period
where each period begins on January 1, 2012 (based on the closing price for the stock on December 31, 2011) and ends on the last day of each successive calendar month in the Performance Period on which the New York Stock Exchange is open
for trading. Each such Total Stockholder Return shall be computed from data available to the public. At the end of the Performance Period, the thirty-six (36) Total Stockholder Return figures for each corporation for the Performance Period will
be averaged to determine each corporation’s average Total Stockholder Return (“Average TSR”) for the Performance Period. Each corporation’s Average TSR shall be ranked among the Average TSR for each other corporation in the Peer
Performance Group on a percentile basis (using the Excel PERCENTRANK function). 

 Award Date: January 30, 2012 
 Page 4 
  

 (b) Percentage Level of Target Award. Your Total Stockholder Return Performance
Factor, expressed as a percentage, will be determined under this Section 3.2(b) (and Section 3.2(c) to the extent interpolation is necessary) based on the Percentile Ranking (as determined under Section 3.2(a)) of the
Corporation’s Average TSR for the Performance Period under the following chart: 
  

							
	 Band
	  	 Percentile Ranking
	  	Total Stockholder
Return Performance
Factor	 
	 One
	  	75th or higher	  	 	200	% 
	 Two
	  	60th	  	 	150	% 
	 Three
	  	50th	  	 	100	% 
	 Four
	  	40th	  	 	50	% 
	 Five
	  	35th	  	 	25	% 
	 Six
	  	Below 35th	  	 	0	% 

 (c) Total Stockholder Return Performance Factor Interpolation. If the Percentile Ranking as
determined under Section 3.2(a) puts the Corporation over the listed Percentile Ranking for the applicable Band (other than Band One) in Section 3.2(b), your Total Stockholder Return Performance Factor under Section 3.2(b) shall be
interpolated on a linear basis. 
  

	 	Section 4.	ROIC Performance Factor and Cash Flow Performance Factor. 

 4.1 ROIC Performance Factor. The ROIC Performance Factor will be determined by comparing the Corporation’s ROIC for the Performance Period to ROIC as forecasted for the Performance Period in
the Corporation’s 2012 Long Range Plan and then identifying the ROIC Performance Factor based upon the factor associated with the difference on the following table: 

 

					
	 Change from 2012 LRP
 ROIC
	  	ROIC Performance
Factor	 
	 Plan + 150 or more basis points
	  	 	200	% 
	 Plan + 120 basis points
	  	 	175	% 
	 Plan + 90 basis points
	  	 	150	% 
	 Plan + 60 basis points
	  	 	125	% 
	 Plan + 30 basis points
	  	 	100	% 
	 Plan
	  	 	75	% 
	 Plan – 15 basis points
	  	 	50	% 
	 Plan – 30 basis points
	  	 	25	% 
	 Plan – 45 or more basis points
	  	 	0	% 

 (a) ROIC Definition. For purposes of this Award Agreement, “ROIC” means return on
invested capital for the Performance Period calculated as (A) average annual (i) net income (excluding any charge or addition to net income resulting 

 Award Date: January 30, 2012 
 Page 5 
  

 
solely from adjustment of deferred tax assets and liabilities for the effect of enactment of corporate tax reform and related legislation that adjusts United States federal corporate income tax
rates) plus (ii) interest expense times one minus the highest marginal federal corporate tax rate over the three year Performance Period (“Return”), divided by (B) the average of the four year-end investment balances (beginning
with December 31, 2011 year-end balance) consisting of (i) debt (including current maturities of long-term debt) plus (ii) stockholders’ equity plus the postretirement plans amounts determined at year-end as included in the
Corporation’s Statement of Stockholders’ Equity. 
 (b) ROIC Determination. Each component of ROIC and the
calculation of any postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity shall be determined by the Committee in accordance with generally accepted accounting principles in the United States and be
based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the date or period on which ROIC is being determined, the Committee shall make
its determination in a manner consistent with the historical practices used by the Corporation in determining the components of ROIC and postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity for
purposes of reporting those items on its audited financial statements, as modified by this paragraph. Notwithstanding the foregoing, ROIC will be adjusted to exclude the impact of any change in accounting standards or adoption of any new accounting
standards that is required under generally accepted accounting principles in the United States and that is reported in the Corporation’s filings with the Securities and Exchange Commission as having a material effect on the Corporation’s
consolidated financial statements. ROIC, as included in the 2012 Long Range Plan, and the change in ROIC for purposes of the ROIC Performance Factor will be determined in accordance with this Section 4.1(b). 

4.2 Cash Flow Performance Factor. The Cash Flow Performance Factor will be determined by comparing the Corporation’s
cumulative Cash Flow during the Performance Period to the projected cumulative Cash Flow of the Corporation as forecasted in the Corporation’s 2012 Long Range Plan, and then identifying the Cash Flow Performance Factor based upon the factor
associated with the change from the 2012 Long Range Plan on the following table: 
  

					
	 Change From 2012 LRP
 Cash Flow
	  	Cash Flow Performance
Factor	 
	 Plan + $2.7B or more
	  	 	200	% 
	 Plan + $2.3B
	  	 	175	% 
	 Plan + $2.0B
	  	 	150	% 
	 Plan + $1.7B
	  	 	125	% 
	 Plan + $1.0B
	  	 	100	% 
	 Plan + $0.3B
	  	 	75	% 
	 Plan
	  	 	50	% 
	 Plan - $0.3B
	  	 	25	% 
	 Plan - $0.7B or more
	  	 	0	% 

 Award Date: January 30, 2012 
 Page 6 
  

 (a) Cash Flow Definition. For purposes of this Award Agreement, Cash Flow means
net cash flow from operations but not taking into account: (i) the aggregate difference between the amount forecasted in the Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit
pension plans during the Performance Period and the actual amounts contributed by the Corporation during the Performance Period; or (ii) any tax payments or tax benefits during the Performance Period associated with the divestiture of business
units, other than tax payments or tax benefits that were included in the Corporation’s 2012 Long Range Plan. 
 (b) Cash
Flow Determination. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the
period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash provided by operating activities as reported in its audited
consolidated statement of cash flows, in either case as modified by this paragraph. 
 4.3 Interpolation of ROIC and Cash
Flow Metrics. If the change in ROIC or Cash Flow falls between two numbers listed in the applicable table in Section 4.1 or 4.2, the appropriate factor will be interpolated on a linear basis. Notwithstanding the foregoing, the ROIC
Performance Factor will always be zero if the ROIC for the Performance Period is less than ROIC forecasted for the Performance Period in the 2012 Long Range Plan by 45 basis points or more and the Cash Flow Performance Factor will always be zero if
the aggregate Cash Flow for the Performance Period is less than what was forecasted for the Performance Period in the 2012 Long Range Plan by more than $0.7 billion. 
  

	 	Section 5.	Payment of Award. 

5.1. Employment Requirement. 
 (a) General Rule. In order to be eligible to receive payment of your Potential Award as determined under Section 2.1(d), you must accept this Award Agreement and remain employed by the
Corporation through the last day of the Performance Period. Except as provided below, if your employment as an Employee terminates during the Performance Period, you shall forfeit your right to receive all or any part of your Potential Award.

 Award Date: January 30, 2012 
 Page 7 
  

 (b) Exceptions. Notwithstanding Section 5.1(a), if the Committee determines

 (1) that your employment as an Employee terminated as a result of your death, “Divestiture”, “Disability”
or “Retirement” or 
 (2) that the Corporation terminated your employment involuntarily as a result of a layoff,

 you shall retain a fraction of your Potential Award. The numerator of such fraction shall equal the number of days in the Performance Period
before your employment as an Employee terminated, and the denominator shall equal the total number of days in the Performance Period. The Committee shall have complete and absolute discretion to make the determinations called for under this
Section 5.1(b), and all such determinations shall be binding on you and on any person who claims all or any part of your Potential Award on your behalf as well as on the Corporation. If you terminate employment during the Performance Period but
are eligible to receive a portion of your Potential Award as a result of an exception under this Section 5.1(b), payment of such portion of your Potential Award shall be in full satisfaction of all rights you have under this Award Agreement.

 (c) Special Definitions. For purposes of this Award Agreement: 

(1) Your employment as an Employee shall be treated as terminating because of a Disability on the date you become eligible for a benefit
under the Corporation’s long-term disability plan in which you participate, or if you are not enrolled in a long-term disability plan, the date on which long-term disability benefits would commence under the plan under which you would have been
covered, had you enrolled; 
 (2) Your employment as an Employee shall be treated as terminating as a result of Divestiture if
the Corporation divests all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation and a transfer of such employment to the other party in the
divestiture. A divestiture shall mean a transaction which results in the transfer of control of the business operation to any person, corporation, association, partnership, joint venture, limited liability company or other business entity of which
less than 50% of the voting stock or other equity interests are owned or controlled by the Corporation; and 
 (3) Your
employment as an Employee shall be treated as terminating because of Retirement if (a) you participate in a defined benefit pension plan maintained by the Corporation, and your employment terminates on or after the date on which you satisfy the
plan’s age and service requirements for commencing receipt of an early retirement benefit under the plan or (b) you do not participate in a defined benefit pension plan maintained by the Corporation, and your employment terminates after
(i) you reach age 65, or (ii) you reach age 55 and have completed five years of service. 

 Award Date: January 30, 2012 
 Page 8 
  

 5.2. Payment Rules. 

(a) General Rule: Vesting; Method of Payment. If you are eligible to receive all, or a portion of, your Potential Award under
Section 5.1, your Potential Award shall be fully vested on the date on which the Committee certifies in writing (for purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance Period,
and shall be either paid in cash to you or deferred in accordance with Section 5.2(c). Subject to Section 5.2(c), in the event of your death, your payment will be made to your estate if you do not have a properly completed beneficiary
designation form on file with the Vice President of Total Rewards and Performance Management. 
 (b) Timing of Payment.
Subject to Section 5.2(c), you shall have the right to receive your Potential Award in cash as soon as administratively practicable, but no later than ninety (90) days after the date on which the Committee certifies in writing (for
purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance Period, but no later than March 15 following such certification date. 

(c) Deferral. You will be given an opportunity to elect to defer any amounts payable under Section 5.2 of this Award
Agreement. Such election shall be irrevocable, shall be made in accordance with the terms of the Lockheed Martin Corporation Deferred Management Incentive Compensation Plan (“DMICP”) and the requirements of Code section 409A, and shall be
subject to such additional terms and conditions as are set by the Committee. A deferral election form and the terms and conditions for any deferral will be furnished to you in due course. The beneficiary designation for the DMICP (rather than the
beneficiary designation for this Long Term Incentive Performance Award) shall govern any amounts deferred under the terms of the DMICP. 
 5.3. Cutback. Any payment called for under Section 5.2 will be reduced to the extent that such payment together with payments attributable to any other Cash-Based Awards that are granted
during 2012 as Performance Based Awards exceeds $10,000,000. Amounts in excess of $10,000,000 shall be forfeited. 
 5.4.
Withholding. Any payment made in respect of your Award will be subject to income tax withholding at the minimum rate prescribed by law. You may owe taxes in addition to the amount withheld and may request that tax be withheld at a greater
rate. As required under the law, FICA tax will be collected from you or withheld from the amount of your award or from your wages, when any portion of an award becomes vested for tax purposes prior to payment. 

5.5. Means of Satisfying Code Section 409A. If any payment that would otherwise be made under this Award Agreement is
required to be delayed by reason of 

 Award Date: January 30, 2012 
 Page 9 
  

 
Section 13, such payment shall be made at the earliest date permitted by Code section 409A. The amount of any delayed payment shall be the amount that would have been paid prior to the delay
adjusted to include interest from the original payment date to the actual payment date, at a rate equivalent to the six month London Interbank Offered Rate (LIBOR) as published in the Money Rates section of the Wall Street Journal, plus 25 basis
points. The increase over LIBOR may be adjusted to reflect the six month unsecured borrowing rate of the Corporation. 
  

	 	Section 6.	No Assignment – General Creditor Status. 

 You shall have no right to assign any interest you might have in all or any part of the Target Award or Potential Award which has been granted to you under this Award Agreement and any attempt to do so
shall be null and void and shall have no force or effect whatsoever. Furthermore, all payments called for under this Award Agreement shall be made in cash from the Corporation’s general assets, and your right to payment from the
Corporation’s general assets shall be the same as the right of a general and unsecured creditor of the Corporation. 
  

	 	Section 7.	Plan. 

 This Award
Agreement shall be subject to all of the terms and conditions set forth in the Plan. 
  

	 	Section 8.	Change in Control. 

8.1. Change in Control During Performance Period. If during the Performance Period, a Change in Control (as defined in
Section 7 of the Plan) occurs, the Performance Period will terminate. Notwithstanding any deferral election or term of this Award Agreement to the contrary, a pro rata portion of your Award will be paid to you within fifteen (15) days of
the Change in Control. The prorated portion will be the sum of (i) the result obtained by first multiplying your Target Award by the Total Stockholder Return Performance Factor calculated under Section 3.2(b), but based upon the Total
Stockholder Return for the Corporation and the Peer Performance Group as of the last day of the month immediately preceding the Change in Control, and then further multiplying that product by a fraction, the numerator of which is the number of days
in the Performance Period prior to the Change in Control and the denominator of which is the total number of days in the Performance Period. 
 8.2. Special Rule. Notwithstanding Section 8.1, if a payment in accordance with those provisions would result in a nonexempt short-swing transaction under Section 16(b) of the Securities
Exchange Act of 1934, then the date of distribution to you shall be delayed until the earliest date upon which the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability under
Section 16(b) of the Securities Exchange Act of 1934. 

 Award Date: January 30, 2012 
 Page 10 
  

	 	Section 9.	Amendment and Termination. 

 As provided in Section 9 of the Plan, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time amend this Award Agreement. Notwithstanding the
foregoing, no such action by the Board of Directors or the Committee shall amend Sections 1, 2, 3, 4, or 5 in a manner adverse to you or reduce the amount payable hereunder in a material manner without your written consent. For this purpose, a
change in the amount payable hereunder that occurs solely by reason of a change in the date or form of payment shall in no case be treated as a reduction prohibited by this Section 9. Thus, for example, if an amount payable by reason of
Section 8 is delayed by an amendment to this Award Agreement or other action undertaken to comply with Section 409A of the Internal Revenue Code and the amount payable is reduced solely by reason of a corresponding delay in the date of
valuation of a share of the Corporation’s common stock, such a change shall not be treated as a reduction prohibited by this Section 9. This Section 9 shall be construed and applied so as to permit the Committee to amend this Award
Agreement at any time in any manner reasonably necessary or appropriate in order to comply with the requirements of Section 16 of the Securities Exchange Act of 1934 and of Code section 409A, including amendments regarding the timing and form
of payments hereunder. 
  

	 	Section 10.	  No Right to an Award; Value of Award. 

 Your status as an Employee shall not be construed as a commitment that any one or more awards shall be made under the Plan to you or to Employees generally. Your status as a Participant shall not entitle
you to any additional award. The value of the Award will not be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. 

 

	 	Section 11.	  No Assurance of Employment. 

 Nothing contained in the Plan or in this Award Agreement shall confer upon you any right to continue in the employ or other service of the Corporation or constitute any contract (of employment or
otherwise) or limit in any way the right of the Corporation to change your compensation or other benefits or to terminate your employment with or without cause. 
  

	 	Section 12.	  Conflict. 

 In the event of a conflict between this Award Agreement and the Plan, the Plan document shall control. 
  

	 	Section 13.	  Compliance with Section 409A of the Internal Revenue Code. 

Notwithstanding any other provision of this Award Agreement to the contrary, to the extent that this Award Agreement constitutes a
nonqualified deferred compensation plan to which Code section 409A applies, payments under this Award Agreement shall be 

 Award Date: January 30, 2012 
 Page 11 
  

 
made at a time and in a manner that satisfies the requirements of Code section 409A and guidance of general applicability issued thereunder, including the provisions of 409A(a)(2)(B)(i) to the
extent distributions to any specified employee are required to be delayed six months, and all terms shall be interpreted in accordance with Code section 409A. 
  

	 	Section 14.	  Post-Employment Covenants & Stock Ownership Requirements. 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement and you acknowledge receipt of the Stock Ownership Requirements (“Ownership Requirements”) attached as Exhibit B to this Award Agreement and agree to comply with such Ownership Requirements. If you are
not a Vice President (or above) on January 30, 2012, but you are promoted to Vice President (or above) prior to January 30, 2015, the Ownership Requirements shall become applicable to you on the date of your promotion to Vice President (or
above). 
  

	 	Section 15.	  Execution. 

 No Award is enforceable until you properly acknowledge your acceptance by returning an executed copy of this Award Agreement, as soon as possible but in no event later than May 31, 2012, to the Vice
President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801 Rockledge Drive, Bethesda, MD 20817. 

 Award Date: January 30, 2012 
 Page 12 
  

 By signing this Award Agreement, you consent to receive copies of the Prospectus
applicable to this Award from this internet site (http://www.benefitaccess.com) as well as to electronic delivery of the Corporation’s annual report on Form 10-K, annual proxy and quarterly reports on Form 10-Q. This consent can only be
withdrawn by written notice to the Senior Vice President, General Counsel, and Corporate Secretary, Lockheed Martin Corporation, 6801 Rockledge Drive, Bethesda, MD 20817. 
 A pre-addressed envelope has been enclosed for your convenience to return with a copy of this Award Agreement, as acknowledged by you below. 

 

	
	Sincerely,
	
	David A. Filomeo
	Vice President
	Total Rewards and Performance Management

 Enclosures 
 ACKNOWLEDGEMENT: 
  

					
	  
 Signature
	  		  	  
 Date

			
	  
 Print or type name
	  		  	

 Award Date: January 30, 2012 
 Page 13 
  

 Appendix A 
 Capitalized Terms 
  

			
	 Average TSR
	  	§ 3.2(a)
	 Award
	  	3rd ¶
	 Cash Flow
	  	§ 4.2(a)
	 Cash Flow Performance Factor
	  	§ 4.2
	 Change of Control
	  	Plan
	 Committee
	  	1st ¶
	 Corporation
	  	3rd ¶
	 Peer Performance Group
	  	§ 3.1
	 Performance Period
	  	§ 1.2
	 Plan
	  	1st ¶
	 Potential Award
	  	§ 2.1(d)
	 ROIC
	  	§ 4.1(a)
	 ROIC Performance Factor
	  	§ 4.1
	 Subsidiary
	  	Plan
	 Target Award
	  	3rd ¶, § 1.1
	 Total Stockholder Return
	  	Plan; § 3.2(a)
	 Total Stockholder Return Performance
	  	§ 3.1; § 3.2
	 Factor
	  	

 Award Date: January 30, 2012 
 Page 14 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (LTIP Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of a Long Term Incentive Performance Award to me under the Award Agreement (the “LTIP”) pursuant to the Lockheed
Martin Corporation 2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the LTIP, I agree as follows: 

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

 

	 	(i)	Represent any client adversely to the Corporation; 

  

	 	(ii)	Reveal to any third party any information learned by me during the course of my employment with the Corporation except for information that is or becomes generally
known; 

  

	 	(iii)	Encourage or solicit any present or future agents or employees of the Corporation to terminate their employment for the purpose of competing with the Corporation; or

  

	 	(iv)	Whether as a lawyer or non-lawyer, accept a position (whether as agent, employer, part or sole owner or in any other capacity) with any person or entity whose interests
are adverse to the Corporation’s interests if that adverse position is related in any way to my present or past work with the Corporation. 

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

 Award Date: January 30, 2012 
 Page 15 
  

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

2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made
available to me under the Award Agreement are in addition to the benefits and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the LTIP is expressly
made contingent upon my agreements with the Corporation set forth in this PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the
benefits and compensation opportunities being made available to me under the Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to and
extensive knowledge of the Corporation’s confidential or proprietary information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests.

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

(a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, to the
extent permitted by applicable law, including but not limited to any applicable rules governing attorney conduct, that upon demand by the Corporation, to forfeit, return or repay to the Corporation the “Benefits and Proceeds” (as defined
below) in the event any of the following occur: 
  

	 	(i)	I breach any of the covenants or agreements in Section 1 (and in the case of 1(a), the breach occurs prior to the second anniversary of my Termination Date);

  

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

 Award Date: January 30, 2012 
 Page 16 
  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not be
the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the LTIP,
any cash paid to me, whether paid currently or deferred; and (ii) to the extent I have not earned the LTIP fully, all of my remaining rights, title or interest in the LTIP. 

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

6. Definitions. Capitalized terms not defined in this PECA have the meaning given to them in the Plan, as applicable. 

7. Miscellaneous. 
 (a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the LTIP to me. 

 Award Date: January 30, 2012 
 Page 17 
  

 (b) This PECA shall be governed by Maryland law, without regard to its provisions
governing conflicts of law. Any enforcement of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and
venue of the Circuit Court of Maryland and the United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 

(d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise,
affect in any way my obligations to the Corporation during the term of my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from
time to time or applicable law or regulation. 
 This PECA is effective as of the acceptance by me of the award of an LTIP
under the Award Agreement and is not contingent on the vesting of the LTIP. 

 Award Date: January 30, 2012 
 Page 18 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	 Annual Base Pay Multiple

	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals. 

 LTIP PECA RJS (performance) 
 Award Date: January 30, 2012 
  
 

 
 Lockheed Martin Corporation 
 6801 Rockledge Drive, Bethesda, MD 20817 
 Telephone 301-897-6000 

THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING 
 SECURITIES THAT HAVE BEEN REGISTERED UNDER THE 
 SECURITIES ACT OF 1933

 «Name» 

«Street» 
 «City»,
«State» «Zip» 
  

	 	Re:	Lockheed Martin Corporation 2011 Incentive Performance Award Plan: Long-Term Incentive Performance Award (2012-2014 Performance Period) 

 Dear «Call_By_Name»: 
 On behalf of the Management Development and Compensation Committee (the “Committee”) of the Board of Directors of Lockheed Martin Corporation, I am pleased to tell you that you have been granted
a Long-Term Incentive Performance Award under the Corporation’s 2011 Incentive Performance Award Plan (the “Plan”). The purpose of this letter is to serve as the Award Agreement under such Plan and to set forth your Target Award as
well as the terms and conditions to the payment of your Target Award. Additional terms and conditions are set forth in the Plan and in the Prospectus relating to the Plan of which the Plan document and this Award Agreement are a part. The Prospectus
is available at http://www.benefitaccess.com. You should retain the Prospectus and the attached copy of the Plan in your records. 
 Your Award is not effective or enforceable until you properly acknowledge your acceptance of the Award by returning an executed copy of this Award Agreement to the Vice President of Total Rewards and
Performance Management as instructed below as soon as possible but in no event later than May 31, 2012. Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement, this Award will be effective as of the Award
Date. Acceptance of this Award Agreement constitutes your consent to any action taken under the Plan consistent with its terms with respect to this Award and your agreement to be bound by the restrictions contained in Section 14 and Exhibit A
(“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 

 Award Date: January 30, 2012 
 Page 2 
  

 Capitalized terms used in this Award Agreement which have a special meaning either shall
be defined in this Award Agreement or if not defined in this Award Agreement shall have the meaning ascribed to the term in the Plan. The term “Target Award” as used in this Award Agreement refers only to the Target Award awarded to you
under this Award Agreement and the term “Award” refers only to the Long Term Incentive Performance Award set forth in this Award Agreement. References to the “Corporation” include Lockheed Martin Corporation and its Subsidiaries.
Appendix A contains an index of all capitalized terms used in this Award Agreement. 
 Section 1.   Target
Award; Performance Period. 
 1.1 Target Award. Your Target Award for the Performance Period under this Award
Agreement shall be [Target]. 
 1.2 Performance Period. The Performance Period under this Award Agreement is a three-year
performance period that runs from January 1, 2012, until December 31, 2014. 
 1.3 Payment of Award. The amount
payable to you under your Award is dependent upon the Corporation’s performance as compared to the metrics described in Section 3 and Section 4 of this Award Agreement and your continued employment with the Corporation in accordance
with Section 5 of this Award Agreement. As a result of these requirements, any payments you receive may be larger or smaller than your Target Award (e.g., the performance factors could result in no payment in respect of your Award).

 Section 2.   Calculation of Award Payments. 

2.1 End of Performance Period Calculation. Following the end of the Performance Period and prior to any payments being made,

 (a) The Committee will calculate the Total Stockholder Return Performance Factor based on the Corporation’s performance
during the Performance Period relative to the performance of other corporations which compose the “Peer Performance Group” as defined in Section 3.1 below. 
 (b) The Committee will calculate the ROIC Performance Factor based on the Corporation’s ROIC during the Performance Period as compared to the projected ROIC for the Performance Period in the 2012
Long Range Plan as presented at the February 2012 Board meeting. 
 (c) The Committee will calculate the Cash Flow Performance
Factor based on the Corporation’s cumulative Cash Flow during the Performance Period as compared to the projected cumulative Cash Flow in the 2012 Long Range Plan as presented at the February 2012 Board meeting. 

 Award Date: January 30, 2012 
 Page 3 
  

 (d) Your “Potential Award” shall be calculated by multiplying the weighted
average of the Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow Performance Factor by your Target Award. The Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Cash Flow
Performance Factor shall be weighted as follows in determining the weighted average of the three performance factors: 
  

					
	 Total Stockholder Return Performance Factor
	  	 	50	% 
	 ROIC Performance Factor
	  	 	25	% 
	 Cash Flow Performance Factor
	  	 	25	% 

 You must (except as specified in Section 5) remain employed by the Corporation through December 31, 2014, to
receive your Potential Award. 
  

	 	Section 3.	  Total Stockholder Return Performance Factor. 

 3.1. Peer Performance Group. The Total Stockholder Return Performance Factor will be based upon the relative ranking of the Corporation’s Average Total Stockholder Return (as defined in
Section 3.2(a)) for the Performance Period to the Average Total Stockholder Return for such Period for each corporation in the “Peer Performance Group.” The “Peer Performance Group” shall consist of the corporations which
compose the Standard and Poor’s 500 Aerospace and Defense Index reported under symbol S5AERO by Bloomberg L.P. The Corporation’s Total Stockholder Return will be based on the performance of its common stock, par value $1.00. The Total
Stockholder Return of each corporation that is taken into account in computing the Peer Performance Group Total Stockholder Return will be based on the equity security of the relevant corporation that is used in computing the Standard and
Poor’s 500 Aerospace and Defense Index. 
 3.2. Calculation of Total Stockholder Return Performance Factor.

 (a) Calculation of Average Total Stockholder Return. During the Performance Period, the Committee shall compute the
Total Stockholder Return (as defined in the Plan and assuming the reinvestment of any cash dividends) for the Corporation and for each other corporation in the Peer Performance Group for thirty-six (36) periods during the Performance Period
where each period begins on January 1, 2012 (based on the closing price for the stock on December 31, 2011) and ends on the last day of each successive calendar month in the Performance Period on which the New York Stock Exchange is open
for trading. Each such Total Stockholder Return shall be computed from data available to the public. At the end of the Performance Period, the thirty-six (36) Total Stockholder Return figures for each corporation for the Performance Period will
be averaged to determine each corporation’s average Total Stockholder Return (“Average TSR”) for the Performance Period. Each corporation’s Average TSR shall be ranked among the Average TSR for each other corporation in the Peer
Performance Group on a percentile basis (using the Excel PERCENTRANK function). 

 Award Date: January 30, 2012 
 Page 4 
  

 (b) Percentage Level of Target Award. Your Total Stockholder Return Performance
Factor, expressed as a percentage, will be determined under this Section 3.2(b) (and Section 3.2(c) to the extent interpolation is necessary) based on the Percentile Ranking (as determined under Section 3.2(a)) of the
Corporation’s Average TSR for the Performance Period under the following chart: 
  

							
	 Band
	  	 Percentile Ranking
	  	Total Stockholder
Return Performance
Factor	 
	 One
	  	75th or higher	  	 	200	% 
	 Two
	  	60th	  	 	150	% 
	 Three
	  	50th	  	 	100	% 
	 Four
	  	40th	  	 	50	% 
	 Five
	  	35th	  	 	25	% 
	 Six
	  	Below 35th	  	 	0	% 

 (c) Total Stockholder Return Performance Factor Interpolation. If the Percentile Ranking as
determined under Section 3.2(a) puts the Corporation over the listed Percentile Ranking for the applicable Band (other than Band One) in Section 3.2(b), your Total Stockholder Return Performance Factor under Section 3.2(b) shall be
interpolated on a linear basis. 
 Section 4.   ROIC Performance Factor and Cash Flow Performance
Factor. 
 4.1 ROIC Performance Factor. The ROIC Performance Factor will be determined by comparing the
Corporation’s ROIC for the Performance Period to ROIC as forecasted for the Performance Period in the Corporation’s 2012 Long Range Plan and then identifying the ROIC Performance Factor based upon the factor associated with the difference
on the following table: 
  

					
	 Change from 2012 LRP
 ROIC
	  	ROIC Performance
Factor	 
	 Plan + 150 or more basis points
	  	 	200	% 
	 Plan + 120 basis points
	  	 	175	% 
	 Plan + 90 basis points
	  	 	150	% 
	 Plan + 60 basis points
	  	 	125	% 
	 Plan + 30 basis points
	  	 	100	% 
	 Plan
	  	 	75	% 
	 Plan – 15 basis points
	  	 	50	% 
	 Plan – 30 basis points
	  	 	25	% 
	 Plan – 45 or more basis points
	  	 	0	% 

 (a) ROIC Definition. For purposes of this Award Agreement, “ROIC” means return on
invested capital for the Performance Period calculated as (A) average annual (i) net income (excluding any charge or addition to net income resulting 

 Award Date: January 30, 2012 
 Page 5 
  

 
solely from adjustment of deferred tax assets and liabilities for the effect of enactment of corporate tax reform and related legislation that adjusts United States federal corporate income tax
rates) plus (ii) interest expense times one minus the highest marginal federal corporate tax rate over the three year Performance Period (“Return”), divided by (B) the average of the four year-end investment balances (beginning
with December 31, 2011 year-end balance) consisting of (i) debt (including current maturities of long-term debt) plus (ii) stockholders’ equity plus the postretirement plans amounts determined at year-end as included in the
Corporation’s Statement of Stockholders’ Equity. 
 (b) ROIC Determination. Each component of ROIC and the
calculation of any postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity shall be determined by the Committee in accordance with generally accepted accounting principles in the United States and be
based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the date or period on which ROIC is being determined, the Committee shall make
its determination in a manner consistent with the historical practices used by the Corporation in determining the components of ROIC and postretirement plans amounts recorded in the Corporation’s Statement of Stockholders’ Equity for
purposes of reporting those items on its audited financial statements, as modified by this paragraph. Notwithstanding the foregoing, ROIC will be adjusted to exclude the impact of any change in accounting standards or adoption of any new accounting
standards that is required under generally accepted accounting principles in the United States and that is reported in the Corporation’s filings with the Securities and Exchange Commission as having a material effect on the Corporation’s
consolidated financial statements. ROIC, as included in the 2012 Long Range Plan, and the change in ROIC for purposes of the ROIC Performance Factor will be determined in accordance with this Section 4.1(b). 

4.2 Cash Flow Performance Factor. The Cash Flow Performance Factor will be determined by comparing the Corporation’s
cumulative Cash Flow during the Performance Period to the projected cumulative Cash Flow of the Corporation as forecasted in the Corporation’s 2012 Long Range Plan, and then identifying the Cash Flow Performance Factor based upon the factor
associated with the change from the 2012 Long Range Plan on the following table: 
  

					
	 Change From 2012 LRP Cash Flow
	  	Cash Flow Performance
Factor	 
	 Plan + $2.7B or more
	  	 	200	% 
	 Plan + $2.3B
	  	 	175	% 
	 Plan + $2.0B
	  	 	150	% 
	 Plan + $1.7B
	  	 	125	% 
	 Plan + $1.0B
	  	 	100	% 
	 Plan + $0.3B
	  	 	75	% 
	 Plan
	  	 	50	% 
	 Plan - $0.3B
	  	 	25	% 
	 Plan - $0.7B or more
	  	 	0	% 

 Award Date: January 30, 2012 
 Page 6 
  

 (a) Cash Flow Definition. For purposes of this Award Agreement, Cash Flow means
net cash flow from operations but not taking into account: (i) the aggregate difference between the amount forecasted in the Corporation’s 2012 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit
pension plans during the Performance Period and the actual amounts contributed by the Corporation during the Performance Period; or (ii) any tax payments or tax benefits during the Performance Period associated with the divestiture of business
units, other than tax payments or tax benefits that were included in the Corporation’s 2012 Long Range Plan. 
 (b) Cash
Flow Determination. Cash Flow shall be determined by the Committee based upon the comparable numbers reported on the Corporation’s audited consolidated financial statements or, if audited financial statements are not available for the
period for which Cash Flow is being determined, the Committee shall determine Cash Flow in a manner consistent with the historical practices used by the Corporation in determining net cash provided by operating activities as reported in its audited
consolidated statement of cash flows, in either case as modified by this paragraph. 
 4.3 Interpolation of ROIC and Cash
Flow Metrics. If the change in ROIC or Cash Flow falls between two numbers listed in the applicable table in Section 4.1 or 4.2, the appropriate factor will be interpolated on a linear basis. Notwithstanding the foregoing, the ROIC
Performance Factor will always be zero if the ROIC for the Performance Period is less than ROIC forecasted for the Performance Period in the 2012 Long Range Plan by 45 basis points or more and the Cash Flow Performance Factor will always be zero if
the aggregate Cash Flow for the Performance Period is less than what was forecasted for the Performance Period in the 2012 Long Range Plan by more than $0.7 billion. 
 Section 5. Payment of Award. 
 5.1. Employment
Requirement. 
 (a) General Rule. In order to be eligible to receive payment of any portion of your Potential Award as
determined under Section 2.1(d), you must accept this Award Agreement and remain employed by the Corporation through the last day of the Performance Period. Except as provided below, if your employment as an Employee terminates during the
Performance Period, you shall forfeit your right to receive all or any part of your Potential Award. 
 (b) Exceptions.
Notwithstanding Section 5.1(a), if the Committee determines 

 Award Date: January 30, 2012 
 Page 7 
  

 (1) that your employment as an Employee terminated as a result of your death,
“Divestiture”, “Disability” or “Retirement” or 
 (2) that the Corporation terminated your
employment involuntarily as a result of a layoff, 
 you shall retain a fraction of your Potential Award. The numerator of such
fraction shall equal the number of days in the Performance Period before your employment as an Employee terminated, and the denominator shall equal the total number of days in the Performance Period. The Committee shall have complete and absolute
discretion to make the determinations called for under this Section 5.1(b), and all such determinations shall be binding on you and on any person who claims all or any part of your Potential Award on your behalf as well as on the Corporation.
If you terminate employment during the Performance Period but are eligible to receive a portion of your Potential Award as a result of an exception under this Section 5.1(b), payment of such portion of your Potential Award shall be in full
satisfaction of all rights you have under this Award Agreement. 
 (c) Special Definitions. For purposes of this Award
Agreement: 
 (1) Your employment as an Employee shall be treated as terminating because of a Disability on the date you become
eligible for a benefit under the Corporation’s long-term disability plan in which you participate, or if you are not enrolled in a long-term disability plan, the date on which long-term disability benefits would commence under the plan under
which you would have been covered, had you enrolled; 
 (2) Your employment as an Employee shall be treated as terminating as a
result of Divestiture if the Corporation divests all or substantially all of a business operation of the Corporation and such divestiture results in the termination of your employment with the Corporation and a transfer of such employment to the
other party in the divestiture. A divestiture shall mean a transaction which results in the transfer of control of the business operation to any person, corporation, association, partnership, joint venture, limited liability company or other
business entity of which less than 50% of the voting stock or other equity interests are owned or controlled by the Corporation; and 
 (3) Your employment as an Employee shall be treated as terminating because of Retirement if (a) you participate in a defined benefit pension plan maintained by the Corporation, and your employment
terminates on or after the date on which you satisfy the plan’s age and service requirements for commencing receipt of an early retirement benefit under the plan or (b) you do not participate in a defined benefit pension plan maintained by
the Corporation, and your employment terminates after (i) you reach age 65, or (ii) you reach age 55 and have completed five years of service. 

 Award Date: January 30, 2012 
 Page 8 
  

 5.2. Payment Rules. 

(a) General Rule: Vesting; Method of Payment; Timing of Payment. 

(1) Immediate Portion. If you are eligible to receive all, or a portion of, your Potential Award under Section 5.1, up to
$10,000,000 dollars of your Potential Award shall be fully vested on the date on which the Committee certifies in writing (for purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance
Period. This portion of your award shall be known as the “Immediate Portion” of your Potential Award. The Immediate Portion of your Potential Award shall be (i) paid to you in cash as soon as administratively practicable, but no later
than ninety (90) days after the certification date described above, but no later than March 15 following such certification date, or (ii) deferred in accordance with Section 5.2(c). Subject to your deferral election under
Section 5.2(c), in the event of your death, the Immediate Portion of your Potential Award will be made to your estate if you do not have a properly completed beneficiary designation form on file with the Vice President of Total Rewards and
Performance Management. 
 (2) Deferred Portion. If your Potential Award exceeds $10,000,000 dollars, the amount in excess
of $10,000,000 dollars shall be automatically deferred through December 31, 2015. This portion of your award shall be known as the “Deferred Portion” of your Potential Award. Except as provided in Section 5.2(b)(2), you shall
forfeit your right to the payment of the Deferred Portion of your Potential Award if you do not remain employed by the Corporation through December 31, 2015. The Committee shall establish a bookkeeping account (a “Phantom Stock
Account”) on your behalf under this Section 5.2(a)(2) and shall credit such account as described in Section 5.2(a)(3) below. Unless you forfeit your right to the Deferred Portion of your Potential Award, you shall receive payment of
the value of your Phantom Stock Account in cash as determined as of December 31, 2015, no later than March 15, 2016 (subject to section 5.2(c)). The amount payable under from your Phantom Stock Account shall be determined by multiplying
the number of units representing shares of phantom stock credited to your account under Section 5.2(a)(3) by the closing price for a share of the Corporation’s common stock as reported on the New York Stock Exchange for December 31,
2015, or, if it is not a trading day, on the last trading day before December 31, 2015. 

 Award Date: January 30, 2012 
 Page 9 
  

 (3) Phantom Stock Account. Your Phantom Stock Account shall be credited with a
number of units equal to the number of whole shares (and any fractional share) of the Corporation’s common stock which could have been purchased by the Deferred Portion of your Potential Award based on the closing price for a share of the
Corporation’s common stock as reported on the New York Stock Exchange for the last trading day of the Performance Period, subject to the Committee’s certification in writing (for purposes of Section 162(m) of the Code) that your
Target Award has become a Potential Award for the Performance Period. Thereafter, the Committee shall make such credits or debits to the units previously credited to such account as the Committee deems appropriate in light of any transaction
described in Section 7(a) of the Plan (such as a stock split or stock dividend) or any cash dividends paid on the Corporation’s common stock, which dividends shall increase the number of units credited to such account as if such dividends
had been reinvested in the Corporation’s common stock at the closing price of a share of the Corporation’s common stock as reported on The New York Stock Exchange for the last trading day of the quarter in which such dividend is declared
by the Board of Directors. Units credited to your Phantom Stock Account are bookkeeping entries only and do not entitle you to any shares of the Corporation’s common stock or to any voting or other rights associated with shares of such stock.

 (4) Transactions involving the Deferred Portion of your Potential Award and your Phantom Stock Account under this Award
Agreement are subject to the securities laws and CPS 722. Among other things, CPS 722 prohibits employees of the Corporation from engaging in transactions that violate securities laws or involve hedging or pledging stock. Insiders are subject to
additional restrictions. The Corporation recommends that Insiders consult with the Senior Vice President, General Counsel and Corporate Secretary or her staff before entering into any transactions involving the Deferred Portion of your Potential
Award or your Phantom Stock Account. 
 (b) Special Rules for Certain Terminated Employees. 

(1) Termination During Performance Period. If you terminate employment during the Performance Period but are eligible to receive a
portion of your Potential Award as a result of an exception under Section 5.1(b), payment of such portion of your Potential Award shall be in full satisfaction of all rights you have under this Award Agreement; in such circumstances, you will
not be eligible for a payment of the Deferred Portion under Section 5.2(a)(2), and no other amounts will be payable to you or on your behalf. The portion of your Potential Award payable to you following a termination of

 Award Date: January 30, 2012 
 Page 10 
  

 
employment during the Performance Period under circumstances described in Section 5.1(b) shall be paid to you or, in the event of your death, to your designated beneficiary for the Award, in
cash within ninety (90) days after the Committee certifies in writing (for purposes of Section 162(m) of the Code) that your Target Award has become a Potential Award for the Performance Period, but no later than March 15, 2014
(subject to section 5.2(c)). In the event of your death and you do not have a properly completed beneficiary designation form on file with the Vice President of Total Rewards and Performance Management’s office, your payment will be made to
your estate. 
 (2) Termination After December 31, 2014 and Before December 31, 2015. Notwithstanding
Section 5.2(a)(2), if your employment terminates after the close of the Performance Period but prior to December 31, 2015, and the Committee determines that your employment terminated under circumstances described in Sections 5.1(b)(1) or
(2), then the Deferred Portion of your Potential Award described in Section 5.2(a)(2) shall be paid to you or, in the event of your death, to your designated beneficiary, in cash within ninety (90) days following your termination of
employment, but no later than March 15 of the year following your termination of employment (subject to Section 5.2(c)). In the event Code section 409A(a)(2)(B)(i) applies because you are a specified employee receiving a distribution on
account of a termination of employment, payment of the Deferred Amount must be delayed for six months from such date. You will be notified if you are a specified employee under Code section 409A. The amount payable in cash under this
Section 5.2(b)(2) shall be determined by multiplying the number of units representing shares of phantom stock credited to your account under Section 5.2(a)(3) on the date your termination becomes effective by the closing price for a share
of the Corporation’s common stock as reported on the New York Stock Exchange for the date on which your termination becomes effective, or if it is not a trading day, on the last trading day before that date. In the event of your death and you
do not have a properly completed beneficiary designation form on file with the Vice President of Total Rewards and Performance Management, your payment will be made to your estate. 

(c) Deferral Election. You will be given an opportunity to elect to defer any amounts payable under Section 5.2 of this Award
Agreement. Such election shall be irrevocable, shall be made in accordance with the terms of the Lockheed Martin Corporation Deferred Management Incentive Compensation Plan (“DMICP”) and the requirements of Code section 409A, and shall be
subject to such additional terms and conditions as are set by the Committee. A deferral election form and the terms and conditions for any deferral will be furnished to you in due course. The beneficiary designation for the DMICP (rather than the
beneficiary designation for this Long Term Incentive Performance Award) shall govern any amounts deferred under the terms of the DMICP. 

 Award Date: January 30, 2012 
 Page 11 
  

 5.3. Cutback. Any payment called for under Section 5.2 will be reduced to
the extent that such payment together with payments attributable to any other Cash-Based Awards that are granted during 2012 as Performance Based Awards exceeds $10,000,000. Amounts that cannot be paid due to any limitation in the Plan shall be
forfeited. 
 5.4. Withholding. Any payment made in respect of your Award will be subject to income tax withholding at
the minimum rate prescribed by law. You may owe taxes in addition to the amount withheld and may request that tax be withheld at a greater rate. As required under the law, FICA tax will be collected from you or withheld from the amount of your award
or from your wages, when any portion of an award becomes vested for tax purposes prior to payment. 
 5.5. Means of
Satisfying Code Section 409A. If any payment that would otherwise be made under this Award Agreement is required to be delayed by reason of Section 13, such payment shall be made at the earliest date permitted by Code section 409A. The
amount of any delayed payment shall be the amount that would have been paid prior to the delay adjusted to include interest from the original payment date to the actual payment date, at a rate equivalent to the six month London Interbank Offered
Rate (LIBOR) as published in the Money Rates section of the Wall Street Journal, plus 25 basis points. The increase over LIBOR may be adjusted to reflect the six month unsecured borrowing rate of the Corporation. 

Section 6.   No Assignment – General Creditor Status. 

You shall have no right to assign any interest you might have in all or any part of the Target Award or Potential Award which has been
granted to you under this Award Agreement and any attempt to do so shall be null and void and shall have no force or effect whatsoever. Furthermore, all payments called for under this Award Agreement shall be made in cash from the Corporation’s
general assets, and your right to payment from the Corporation’s general assets shall be the same as the right of a general and unsecured creditor of the Corporation. 
 Section 7.  Plan. 
 This Award Agreement shall be subject
to all of the terms and conditions set forth in the Plan. 
 Section 8.  Change in Control. 

 8.1. Change in Control Before December 31, 2015. If during the Performance Period, a Change in Control (as
defined in Section 7 of the Plan) occurs, the Performance Period will terminate. Notwithstanding any deferral election or term of this Award 

 Award Date: January 30, 2012 
 Page 12 
  

 
Agreement to the contrary, a pro rata portion of your Award will be paid to you within fifteen (15) days of the Change in Control. The prorated portion will be the sum of (i) the result
obtained by first multiplying your Target Award by the Total Stockholder Return Performance Factor calculated under Section 3.2(b), but based upon the Total Stockholder Return for the Corporation and the Peer Performance Group as of the last
day of the month immediately preceding the Change in Control, and then further multiplying that product by a fraction, the numerator of which is the number of days in the Performance Period prior to the Change in Control and the denominator of which
is the total number of days in the Performance Period. If a Change in Control occurs after the end of the Performance Period but before December 31, 2015, notwithstanding any deferral election or term of this Award Agreement to the contrary,
the Deferred Portion of your Potential Award described in Section 5.2(c) will be paid to you within fifteen (15) days of the Change in Control. The amount payable shall be determined by multiplying the number of units representing shares
of phantom stock credited to your account under Section 5.2(c)(2) by the closing price for a share of the Corporation’s common stock as reported on the New York Stock Exchange for the date on which the Change in Control occurs, or if it is
not a trading day, on the last trading day before that date. 
 8.2. Special Rule. Notwithstanding Section 8.1, if a
payment in accordance with those provisions would result in a nonexempt short-swing transaction under Section 16(b) of the Securities Exchange Act of 1934, then the date of distribution to you shall be delayed until the earliest date upon which
the distribution either would not result in a nonexempt short-swing transaction or would otherwise not result in liability under Section 16(b) of the Securities Exchange Act of 1934. 

 

	 	Section 9.	 Amendment and Termination. 

 As provided in Section 9 of the Plan, the Board of Directors may at any time amend, suspend or discontinue the Plan and the Committee may at any time amend this Award Agreement. Notwithstanding the
foregoing, no such action by the Board of Directors or the Committee shall amend Sections 1, 2, 3, 4, or 5 in a manner adverse to you or reduce the amount payable hereunder in a material manner without your written consent. For this purpose, a
change in the amount payable hereunder that occurs solely by reason of a change in the date or form of payment shall in no case be treated as a reduction prohibited by this Section 9. Thus, for example, if an amount payable by reason of
Section 8 is delayed by an amendment to this Award Agreement or other action undertaken to comply with Section 409A of the Internal Revenue Code and the amount payable is reduced solely by reason of a corresponding delay in the date of
valuation of a share of the Corporation’s common stock, such a change shall not be treated as a reduction prohibited by this Section 9. This Section 9 shall be construed and applied so as to permit the Committee to amend this Award
Agreement at any time in any manner reasonably necessary or appropriate in order to comply with the requirements of Section 16 of the Securities Exchange Act of 1934 and of Code section 409A, including amendments regarding the timing and form
of payments hereunder. 

 Award Date: January 30, 2012 
 Page 13 
  

	 	Section 10.	  No Right to an Award; Value of Award. 

 Your status as an Employee shall not be construed as a commitment that any one or more awards shall be made under the Plan to you or to Employees generally. Your status as a Participant shall not entitle
you to any additional award. The value of the Award will not be taken into account for other benefits offered by the Corporation, including but not limited to pension benefits. 

 

	 	Section 11.	  No Assurance of Employment. 

 Nothing contained in the Plan or in this Award Agreement shall confer upon you any right to continue in the employ or other service of the Corporation or constitute any contract (of employment or
otherwise) or limit in any way the right of the Corporation to change your compensation or other benefits or to terminate your employment with or without cause. 
  

	 	Section 12.	  Conflict. 

 In the event of a conflict between this Award Agreement and the Plan, the Plan document shall control. 
  

	 	Section 13.	  Compliance with Section 409A of the Internal Revenue Code. 

Notwithstanding any other provision of this Award Agreement to the contrary, to the extent that this Award Agreement constitutes a
nonqualified deferred compensation plan to which Code section 409A applies, payments under this Award Agreement shall be made at a time and in a manner that satisfies the requirements of Code section 409A and guidance of general applicability issued
thereunder, including the provisions of 409A(a)(2)(B)(i) to the extent distributions to any specified employee are required to be delayed six months, and all terms shall be interpreted in accordance with Code section 409A. 

 

	 	Section 14.	  Post-Employment Covenants & Stock Ownership Requirements. 

By accepting this Award Agreement through the procedure described above, you agree to the terms of the Post-Employment Covenants contained
in Exhibit A to this Award Agreement and you acknowledge receipt of the Stock Ownership Requirements (“Ownership Requirements”) attached as Exhibit B to this Award Agreement and agree to comply with such Ownership Requirements. 

 Award Date: January 30, 2012 
 Page 14 
  

	 	Section 15.	  Execution. 

 No Award is enforceable until you properly acknowledge your acceptance by returning an executed copy of this Award Agreement, as soon as possible but in no event later than May 31, 2012, to the Vice
President of Total Rewards and Performance Management, Lockheed Martin Corporation, Mail Point 123, 6801 Rockledge Drive, Bethesda, MD 20817. 
 By signing this Award Agreement, you consent to receive copies of the Prospectus applicable to this Award from this internet site (http://www.benefitaccess.com) as well as to electronic delivery of
the Corporation’s annual report on Form 10-K, annual proxy and quarterly reports on Form 10-Q. This consent can only be withdrawn by written notice to the Senior Vice President, General Counsel, and Corporate Secretary, Lockheed Martin
Corporation, 6801 Rockledge Drive, Bethesda, MD 20817. 
 A pre-addressed envelope has been enclosed for your convenience to
return with a copy of this Award Agreement, as acknowledged by you below. 
  

	
	Sincerely,
	
	David A. Filomeo
	Vice President
	 Total Rewards and Performance

Management

 Enclosures 
 ACKNOWLEDGEMENT: 
  

					
	  
	 		 	  

	Signature	 		 	Date
			
	  
	 		 	
	Print or type name	 		 	

 Award Date: January 30, 2012 
 Page 15 
  

 Appendix A 
 Capitalized Terms 
  

			
	Average TSR	  	§ 3.2(a)
	Award	  	3rd ¶
	Cash Flow	  	§ 4.2(a)
	Cash Flow Performance Factor	  	§ 4.2
	Change of Control	  	Plan
	Committee	  	1st ¶
	Corporation	  	3rd ¶
	Deferred Portion	  	§ 5.2(a)(2)
	 Immediate Portion

Insider
	  	§ 5.2(a)(1)
 Plan

	Peer Performance Group	  	§ 3.1
	Performance Period	  	§ 1.2
	Phantom Stock Account	  	§ 5.2(a)(3)
	Plan	  	1st ¶
	Potential Award	  	§ 2.1(d)
	ROIC	  	§ 4.1(a)
	ROIC Performance Factor	  	§ 4.1
	Subsidiary	  	Plan
	Target Award	  	3rd ¶, § 1.1
	Total Stockholder Return	  	Plan; § 3.2(a)
	Total Stockholder Return Performance	  	§ 3.1; § 3.2
	Factor	  	

 Award Date: January 30, 2012 
 Page 16 
  

 Exhibit A 
 Post Employment Conduct Agreement 
 (LTIP Grant) 

This Post Employment Conduct Agreement (this “PECA”) attached as Exhibit A to the Award Agreement with an Award Date of
January 30, 2012 (the “Award Agreement”) is entered into in consideration of, among other things, the grant of a Long Term Incentive Performance Award to me under the Award Agreement (the “LTIP”) pursuant to the Lockheed
Martin Corporation 2011 Incentive Performance Award Plan (the “Plan”). References to the “Corporation” shall include Lockheed Martin Corporation and its Subsidiaries. By accepting the LTIP, I agree as follows: 

1. Protective Covenants. 
 (a) Covenant Not To Compete – Without the express written consent of the Management Development and Compensation Committee of the Board of Directors of the Corporation, during the two-year
period following the date of my termination of employment (the “Termination Date”) with the Corporation, I will not, directly or indirectly, be employed by, provide services to, or advise a “Restricted Company” (as defined in
Section 6 below), whether as an employee, advisor, director, officer, partner or consultant, or in any other position, function or role that, in any such case, 
  

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

  

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

(b) Non-Solicit – Without the express written consent of the Management Development and Compensation Committee of the Board of
Directors of the Corporation, during the two-year period following the Termination Date, I will not (i) interfere with any contractual relationship between the Corporation and any customer, supplier, distributor or

 Award Date: January 30, 2012 
 Page 17 
  

 
manufacturer of or to the Corporation to the detriment of the Corporation or (ii) induce or attempt to induce any person who is an employee of the Corporation to perform work or services for
any entity other than the Corporation. 
 (c) Protection of Proprietary Information – Except to the extent required
by law, following my Termination Date, I will have a continuing obligation to comply with the terms of any non-disclosure or similar agreements that I signed while employed by the Corporation committing to hold confidential the “Confidential or
Proprietary Information” (as defined below) of the Corporation or any of its affiliates, subsidiaries, related companies, joint ventures, partnerships, customers, suppliers, partners, contractors or agents, in each case in accordance with the
terms of such agreements. I will not use or disclose or allow the use or disclosure by others to any person or entity of Confidential or Proprietary Information of the Corporation or others to which I had access or that I was responsible for
creating or overseeing during my employment with the Corporation. In the event I become legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or otherwise) to disclose any proprietary or
confidential information, I will immediately notify the Corporation’s Senior Vice President, General Counsel, and Corporate Secretary as to the existence of the obligation and will cooperate with any reasonable request by the Corporation for
assistance in seeking to protect the information. All materials to which I have had access, or which were furnished or otherwise made available to me in connection with my employment with the Corporation shall be and remain the property of the
Corporation. For purposes of this PECA, “Confidential or Proprietary Information” means Proprietary Information within the meaning of CPS 710 (a copy of which has been made available to me), including but not limited to information that a
person or entity desires to protect from unauthorized disclosure to third parties that can provide the person or entity with a business, technological, or economic advantage over its competitors, or which, if known or used by third parties or if
used by the person’s or entity’s employees or agents in an unauthorized manner, might be detrimental to the person’s or entity’s interests. Confidential or Proprietary Information may include, but is not limited to: 

 

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

 Award Date: January 30, 2012 
 Page 18 
  

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

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

(e) Cooperation in Litigation and Investigations – Following the Termination Date, I will, to the extent reasonably requested,
cooperate with the Corporation in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Corporation or any of its subsidiaries or affiliates is a party or is required or requested to
provide testimony and regarding which, as a result of my employment with the Corporation, I reasonably could be expected to have knowledge or information relevant to the litigation or investigation. Notwithstanding any other provision of this PECA,
nothing in this PECA shall affect my obligation to cooperate with any governmental inquiry or investigation or to give truthful testimony in court. 
 2. Consideration and Acknowledgement. I acknowledge and agree that the benefits and compensation opportunities being made available to me under the Award Agreement are in addition to the benefits
and compensation opportunities that otherwise are or would be available to me in connection with my employment by the Corporation and that the grant of the LTIP is expressly made contingent upon my agreements with the Corporation set forth in this
PECA. I acknowledge that the scope and duration of the restrictions in Section 1 are necessary to be effective and are fair and reasonable in light of the value of the benefits and compensation opportunities being made available to me under the
Award Agreement. I further acknowledge and agree that as a result of the high level executive and management positions I hold with the Corporation and the access to and extensive knowledge of the Corporation’s Confidential or Proprietary
Information, employees, suppliers and customers, these restrictions are reasonably required for the protection of the Corporation’s legitimate business interests. 
 3. Remedies For Breach of Section 1; Additional Remedies of Clawback and Recoupment. 
 (a) If I become (or currently am) an Insider (as defined in the Plan) or receive a Long-Term Incentive Performance Award, I agree, upon demand by the Corporation, to forfeit, return or repay to the
Corporation the “Benefits and Proceeds” (as defined below) in the event any of the following occur: 
  

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

 Award Date: January 30, 2012 
 Page 19 
  

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

  

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

  

	 	(iv)	Under such other circumstances specified by final regulation issued by the Securities and Exchange Commission entitling the Corporation to recapture or clawback
“Benefits and Proceeds” (as defined below). 

 (b) The remedy provided in Section 3(a) shall not be
the exclusive remedy available to the Corporation for any of the conduct described in Section 3(a) and shall not limit the Corporation from seeking damages or injunctive relief. 

(c) For purposes of this Section 3, “Benefits and Proceeds” means (i) to the extent I have earned any of the LTIP, any
cash paid to me, whether paid currently or deferred; and (ii) to the extent I have not earned the LTIP fully, all of my remaining rights, title or interest in the LTIP. 
 4. Injunctive Relief. I acknowledge that the Corporation’s remedies at law may be inadequate to protect the Corporation against any actual or threatened breach of the provisions of
Section 1 or the conduct described in Section 3(a), and, therefore, without prejudice to any other rights and remedies otherwise available to the Corporation at law or in equity (including but not limited to, an action under
Section 3(a), the Corporation shall be entitled to the granting of injunctive relief in its favor and to specific performance without proof of actual damages and without the requirement of the posting of any bond or similar security.

 Award Date: January 30, 2012 
 Page 20 
  

 5. Invalidity; Unenforceability. It is the desire and intent of the parties that
the provisions of this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated
to be invalid or unenforceable, such deletion to apply only with respect to the operation of this provision in the particular jurisdiction in which such adjudication is made. 
 6. Definitions. Capitalized terms not defined in this PECA have the meaning given to them in the Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below:

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

 Award Date: January 30, 2012 
 Page 21 
  

 7. Miscellaneous. 

(a) The Plan, the Award Agreement and this PECA constitute the entire agreement governing the terms of the award of the LTIP to me.

 (b) This PECA shall be governed by Maryland law, without regard to its provisions governing conflicts of law. Any enforcement
of, or challenge to, this PECA may only be brought in the Circuit Court of Maryland or the United States District Court for the District of Maryland. Both parties consent to the proper jurisdiction and venue of the Circuit Court of Maryland and the
United States District Court for the District of Maryland for the purpose of enforcing or challenging this PECA. 
 (c) This PECA
shall inure to the benefit of the Corporation’s successors and assigns and may be assigned by the Corporation without my consent. 
 (d) This PECA provides for certain obligations on my part following the Termination Date and shall not, by implication or otherwise, affect in any way my obligations to the Corporation during the term of
my employment by the Corporation, whether pursuant to written agreements between the Corporation and me, the provisions of applicable Corporate policies that may be adopted from time to time or applicable law or regulation. 

This PECA is effective as of the acceptance by me of the award of an LTIP under the Award Agreement and is not contingent on the
vesting of the LTIP. 

 Award Date: January 30, 2012 
 Page 22 
  

 Exhibit B 
 Stock Ownership Requirements 
 Lockheed Martin’s Stock Ownership Requirements for Key
Employees apply to all senior level positions of Vice President and above. This reflects the expectations of our major shareholders that management demonstrate its confidence in Lockheed Martin through a reasonable level of personal share ownership.
This practice is consistent with other major U.S. corporations which link some portion of personal financial interests of key employees with those of shareholders. 
 Stock Ownership Requirements 
  

			
	 Title
	  	 Annual Base Pay Multiple

	 Chief Executive Officer
	  	6 times
	 President/Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Business Area Executive Vice Presidents
	  	3 times
	 Corporate Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 All Other Vice Presidents
	  	1 times

 Satisfaction of Requirements 
 Covered employees may satisfy their ownership requirements with common stock in these categories: 
  

	 	•	 	 Shares owned directly. 

  

	 	•	 	 Shares owned by a spouse or a trust. 

  

	 	•	 	 Shares represented by monies invested in 401(k) Company Common Stock Funds or comparable plans. 

 

	 	•	 	 Share equivalents as represented by income deferred to the Company Stock Investment Option of the Deferred Management Incentive Compensation Plan
(DMICP). 

  

	 	•	 	 Unvested Restricted Stock Units. 

 Key employees will be required to achieve the appropriate ownership level within 5 years and are expected to make continuous progress toward their target. Appointment to a new level will reset the five
year requirement. Unexercised options prior to vesting are not counted toward meeting the guidelines. 
 Holding Period 

Covered employees must retain net vested Restricted Stock Units and the net shares resulting from any exercise of stock options if the ownership
requirements are not yet satisfied. 
 Covered employees are asked to report annually on their progress toward attainment of their share
ownership goals.

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