Document:

Exhibit 10.21

 Exhibit 10.21 
 This document constitutes part of a prospectus covering securities that have been registered under the Securities Act of 1933. 
 LOCKHEED MARTIN CORPORATION 
 NONQUALIFIED CAPITAL ACCUMULATION PLAN

 (Amended and Restated Generally Effective as of December 14, 2012) 

ARTICLE I 

PURPOSES OF THE PLAN 
 The purposes of the Lockheed Martin Corporation Nonqualified Capital Accumulation Plan (the “NCAP” or the “Plan”) are (i) to provide contributions for certain key management
employees of Lockheed Martin Corporation and its subsidiaries (the “Company”) in circumstances where the Company cannot make contributions on behalf of employees under the Lockheed Martin Salaried Corporation Capital Accumulation Plan (the
“Qualified CAP”) because of the limitations of Code section 401(a)(17) or 415(c)(1)(A); and (ii) to provide a company contribution based on amounts awarded under Lockheed Martin Corporation Management Incentive Compensation Plan
(“MICP”). This Plan is also intended to comply with the requirements of Code section 409A. 
 The 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 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 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 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 Plan was amended and restated, effective February 23, 2011, to make certain administrative changes. The Plan is hereby amended and restated to
update the names of incentive plans that are treated as Incentive Compensation under the Plan. 

 ARTICLE II 
 DEFINITIONS 
 Unless the context indicates otherwise, the following words
and phrases shall have the meanings hereinafter indicated: 
 1. ACCOUNT — The bookkeeping account maintained by the
Company for each Participant which is credited with Contributions made on behalf of the Participant, and earnings (or losses) attributable to the Investment Options selected by the Participant, and which is debited to reflect distributions. The
portions of a Participant’s Account allocated to different Investment Options will be accounted for separately. 
 2.
ACCOUNT BALANCE — The total amount credited to a Participant’s Account at any time, including the portions of the Account allocated to each Investment Option. 
 3. BENEFICIARY — The person or persons designated by the Participant as his or her beneficiary under the Qualified CAP. 
 4. BOARD — The Board of Directors of Lockheed Martin Corporation. 
 5. CODE
— The Internal Revenue Code of 1986, as amended. 
 6. COMMITTEE — The committee described in Section 1 of
Article IX. 
 7. COMPANY — Lockheed Martin Corporation and its subsidiaries. 

8. COMPANY STOCK INVESTMENT OPTION — The Investment Option under which the Participant’s Account is credited as if invested
under the investment option in the Qualified CAP for the common stock of the Company. 
 9. COMPENSATION — An
employee’s “Compensation” from the Company, as defined in the Qualified CAP. 
 10. CONTRIBUTIONS —
Contributions made by the Company pursuant to Article IV of this NCAP. 
 11. DMICP — The Lockheed Martin Corporation
Deferred Management Incentive Compensation Plan or any successor plan. 
 12. ELIGIBLE EMPLOYEE — An employee of the
Company who participates in the Qualified CAP and either (i) accrues benefits under the Qualified CAP in excess of the Code section 415 limits for a Year; (ii) earns Compensation in excess of the Code section 401(a)(17) limit for a Year;
or (iii) is eligible to receive Incentive Compensation with respect to a Year (which may be payable in the following Year); provided that such employee satisfies such additional requirements for participation in this NCAP as the Committee may
from time to time establish; provided further that employees who are designated by the Company as eligible to participant in a defined benefit-type nonqualified deferred compensation plan or who are Section 16 Persons shall not be eligible to
participate in this NCAP. 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. 

  
 2 

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

14. INCENTIVE COMPENSATION — The MICP amount granted to an employee by the Company for an Award Year (as defined in the MICP),
regardless of amounts deferred pursuant to the DMICP. 
 15. INVESTMENT OPTION — A measure of investment return pursuant to
which Contributions credited to a Participant’s Account shall be further credited with earnings (or losses). The Investment Options available under this NCAP shall correspond to the investment options available under the Qualified CAP (other
than the ESOP Fund or the Self-Managed Account, which are not available under this Plan). 
 16. MICP — The Lockheed Martin
Corporation Management Incentive Compensation Plan or the Lockheed Martin Corporation 2006 Management Incentive Compensation Plan (for Incentive Compensation awarded after February 1, 2006) or any successor plan, including the Lockheed Martin
Corporation Attorney Incentive Plan and the Applied NanoStructured Solutions, LLC Management Incentive Compensation Plan. 
 17.
NCAP — The Lockheed Martin Corporation Non-Qualified Capital Accumulation Plan, as adopted by the Board of Directors of Lockheed Martin Corporation, originally effective January 1, 2007, and as further amended from time to time.

 18. PARTICIPANT — An employee of the Company who is an Eligible Employee and with respect to whom Contributions have
been credited to his Account; the term shall include a former employee whose Account Balance has not been fully distributed. 

19. QUALIFIED CAP — The Lockheed Martin Corporation Capital Accumulation Plan or any successor plan. 

20. SECTION 16 PERSON — A Participant who at the relevant time is subject to the reporting and short-swing liability provisions of
Section 16 of the Exchange Act. 
 21. 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. 
 22 TERMINATION OF EMPLOYMENT — A separation from service as
such term is defined in Code section 409A and the regulations thereunder. 

  
 3 

 23. WEEKLY RATE OF COMPENSATION — A Participant’s “Weekly Rate of
Compensation” as defined in the Qualified CAP. 
 24. YEAR — The calendar year. 

ARTICLE III 
 ELIGIBILITY 
 1. Commencement of Participation. An Eligible Employee
of the Company shall become a Participant in the Plan effective on the first date a Contribution is credited to his account in accordance with Article IV(2). 
 2. Cessation of Eligibility While Still An Employee. A Participant who has not terminated employment with the Company will nevertheless cease to be an Eligible Employee on the first to occur of
(i) the employee is no longer eligible to participate in the Qualified CAP; (ii) the employee is designated by the Company as eligible to participate in a defined benefit-type nonqualified deferred compensation plan; or (iii) the
employee becomes a Section 16 Person. Following cessation of eligibility, the employee will continue to be a Participant in the NCAP but will no longer be eligible to be credited with Contributions under Article IV. 

ARTICLE IV 

CONTRIBUTIONS 
 1. Amount of Contributions. The Company shall make annual Contributions on behalf of a Participant equal to: 
 a. an amount based on the same percentage of the Participant’s Weekly Rate of Compensation that would have been contributed to the Qualified CAP on behalf of the Participant for the previous Year if
not for the application of the limits under Code sections 415 and 401(a)(17) for the previous Year; and 
 b. an amount equal to
a Participant’s Incentive Compensation paid during the Year multiplied by the percentage that is used for calculating Company contributions to the Participant’s account in the Qualified CAP in the Year in which the Incentive Compensation
is earned (as opposed to paid). 
  

  
 4 

 2. Crediting of Contributions. Contributions made pursuant to Article IV(1)(a)) shall
be credited to an Account for the Eligible Employee no later than March 15 of the Year following the Year in which the Eligible Employee’s Qualified CAP contributions reached the applicable Code limits. Contributions made pursuant to
Article IV(1)(b) shall be credited to a an Account for the Eligible Employee no later than March 15 following the date the Incentive Compensation is paid to the Eligible Employee. 

3. Vesting of Contributions. A Participant shall be vested in the following percentage of his Account based on his “Years of
Service,” based upon the definition of “Years of Service” in the Qualified CAP applicable to the Participant, including those Years of Service prior to the Year in which the employee became a Participant: 

 

					
	 Less than 3 Years of Service
	  	 	0	% 
	 At least 3 Years of Service
	  	 	100	% 

 Notwithstanding the foregoing, a Participant shall be 100% vested in his Account upon his termination of employment after
age 55, layoff, on account of death or permanent disability, or termination of employment on account of the divestiture or sale of the assets of a business unit or portion of a business unit of the Corporation. A Participant shall be permanently
disabled if the Participant would be considered disabled for purposes of qualifying for long term disability benefits under the Company’s long term disability plan in which the Participant is eligible to participate A Participant shall be
considered to have been laid off if the Participant’s employment is terminated by the Company due to lack of work and the Participant is considered to have experienced a “separation from service” under Code section 409A(a)(2)(a)(i).
In the event legislative changes require the vesting of account balances in the Qualified CAP in a period shorter than three Years of Service, then the period required to vest under the NCAP shall be shortened so as to be consistent with the vesting
period in the Qualified CAP applicable to the Participant. 
 4. Crediting of Earnings. Earnings (or losses) shall be
credited to a Participant’s Account based on the Investment Option or Options to which his or her Account has been allocated, beginning with the day as of which any amounts (or any reallocation of amounts) are credited to the Participant’s
Account. Any amount distributed from a Participant’s Account shall be credited with earnings (or losses) through the date that is four (4) business days before the date on which the distribution is processed. The manner in which earnings
(or losses) are credited under each of the Investment Options shall be determined in the same manner as under the Qualified CAP. 
 5. Selection of Investment Options. A Participant may elect to allocate his or her Account among the Investment Options available under the Qualified CAP (other than the options designated as the
ESOP Fund or the Self Managed Account). The procedures for directing allocation and reallocations among the Investment Options in the NCAP shall be the same as the procedures for making allocations under the Qualified CAP. In the event a

  
 5 

 
Participant does not make an investment allocation for the NCAP, his elections will be deemed to be the elections made by the Participant in the Qualified CAP (except that an election for the
ESOP Fund or the Self Managed Account shall be disregarded), or, if no such election exists, the default investment option designated under the Qualified CAP, and such amounts shall be allocated to the default investment option in the Qualified
CAP), or, if no such election exists, the default investment option designated under the Qualified CAP, until reallocated by the Participant. Notwithstanding the foregoing, no investment election by a Section 16 Person to re-allocate all or a
portion of his or her Account to, or from, a Company stock investment option shall be effective unless the reallocation would be exempt from the short-swing profit recovery rules of Section 16 of the Exchange Act. 

ARTICLE V 

PAYMENT OF BENEFITS 
 1. General. The Company’s liability to pay benefits to a Participant or Beneficiary under this NCAP shall be measured by and shall in no event exceed the Participant’s Account Balance,
which shall be fully vested and nonforfeitable at all times. All benefit payments shall be made in cash and, except as otherwise provided, shall reduce allocations to the Investment Options in the same proportions that the Participant’s Account
Balance is allocated among those Investment Options. 
 2. Commencement of Payment. The payment of
benefits to a Participant shall commence as soon as administratively feasible (but no more than 90 days) following the Participant’s Termination of Employment with the Company. In the event that a Participant has a Termination of Employment
prior to the date a Contribution is credited to his Account under Article IV(2) for any Year, the Contribution shall be credited to such Participant’s Account in accordance with Article IV and shall be distributed to the Participant in
accordance with his valid election within as soon as administratively feasible (but no more than 90 days) after
March 15th of the Year in which the Contribution was
credited to his Account. Notwithstanding the foregoing, (i) benefits paid under this Plan to a Participant who is reasonably determined by the Company to be a “specified employee” within the meaning of Code section 409A(2)(B)(i),
shall not commence before six (6) months following the month in which the Participant terminates employment; and (ii) benefits payable to a Section 16 Person that would result in a nonexempt short-swing transaction under
Section 16 of the Exchange Act shall be delayed until the earliest date upon which the Company reasonably anticipates that the distribution would not result in a nonexempt short-swing transaction. 

3. Form of Payment. Within 30 days of the date on which an Eligible Employee becomes a Participant in the Plan, 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) for a period of years not to exceed 25 years (or 25 annual installments). The amount of each annual payment shall be determined by
dividing the Participant’s Account Balance on the date such payment is processed by the number of years remaining in the designated installment period. 

  
 6 

 Such election shall be irrevocable except as provided in Section 4 of this Article VI.
Such election shall be made in writing in the form and manner designated by the Company. Notwithstanding the foregoing, if the Account Balance of a Participant who is entitled to begin payment equals $10,000 or less, the Participant’s Account
Balance shall be paid in a single lump sum payment in full discharge of all liabilities with respect to such benefits. 
 4.
Prospective Change of Payment Election. 
 (a) In the event a Participant does not make a valid election
with respect to the form of benefit, the Participant will be deemed to have elected that payment of benefits be made in a lump sum. 
 (b) A Participant’s election (including a “deemed election” in accordance with the preceding paragraph) shall remain in effect unless and until such election is modified by a subsequent
election in accordance with (c) below. 
 (c) 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 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 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. 

(d) 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. 
 (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. 

  
 7 

 5. Death Benefits. Upon the death of a Participant before a complete distribution of
his or her Account Balance, the Account Balance will be paid to the Participant’s Beneficiary in an immediate lump sum. Such lump sum shall be paid as soon as administratively practicable (but no later than 90 days) after the death of the
Participant. 
 6. Acceleration Upon Conflict of Interest. Notwithstanding a Participant’s form of payment election
under Section 3 of 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, 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 less 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 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.
Acceleration upon Change in Control. 
 (a) Notwithstanding any other provision of this NCAP, the Account
Balance of each Participant shall be distributed in a single lump sum within fifteen (15) calendar days following a “Change in Control.” 

  
 8 

 (b) For purposes of this NCAP, a Change in Control shall include and be
deemed to occur upon the following events: 
 (1) A tender offer or exchange offer is consummated for the
ownership of securities of the Company representing 25% or more of the combined voting power of the Company’s then outstanding voting securities entitled to vote in the election of directors of the Company. 

(2) The Company is merged, combined, consolidated, recapitalized or otherwise reorganized with one or more other entities
that are not Subsidiaries and, as a result of the merger, combination, consolidation, recapitalization or other reorganization, less than 75% of the outstanding voting securities of the surviving or resulting corporation shall immediately after the
event be owned in the aggregate by the stockholders of the Company (directly or indirectly), determined on the basis of record ownership as of the date of determination of holders entitled to vote on the action (or in the absence of a vote, the day
immediately prior to the event). 
 (3) Any person (as this term is used in Sections 3(a)(9) and 13(d)(3) of the
Exchange Act, but excluding any person described in and satisfying the conditions of Rule 13d-1(b)(1) thereunder), becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company
representing 25% or more of the combined voting power of the Company’s then outstanding securities entitled to vote in the election of directors of the Company. 

(4) At any time within any period of two years after a tender offer, merger, combination, consolidation, recapitalization,
or other reorganization or a contested election, or any combination of these events, the “Incumbent Directors” shall cease to constitute at least a majority of the authorized number of members of the Board. For purposes hereof,
“Incumbent Directors” shall mean the persons who were members of the Board immediately before the first of these events and the persons who were elected or nominated as their successors or pursuant to increases in the size of the Board by
a vote of at least three-fourths of the Board members who were then Board members (or successors or additional members so elected or nominated). 
 (5) The stockholders of the Company approve a plan of liquidation and dissolution or the sale or transfer of substantially all of the Company’s business and/or assets as an entirety to an entity that
is not a Subsidiary. 
 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
the Plan and in Section 409A(a)(2)(A)(v) of the Code. 

  
 9 

 (c) Notwithstanding the provisions of Section 7(a), if a distribution
in accordance with the provisions of Section 7(a) would result in a nonexempt transaction under Section 16(b) of the Exchange Act with respect to any Section 16 Person, then the date of distribution to such Section 16 Person
shall be delayed until the earliest date upon which the Company reasonably anticipates that the distribution either would not result in a nonexempt transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act.

 (d) This Section 7 shall apply only to a Change in Control of Lockheed Martin Corporation and shall not
cause immediate payout of an Account Balance in any transaction involving the Company’s sale, liquidation, merger, or other disposition of any Subsidiary. 
 (e) The Committee may cancel or modify this Section 7 at any time prior to a Change in Control. In the event of a Change in Control, this Section 7 shall remain in force and effect, and shall
not be subject to cancellation or modification for a period of five years, and any defined term used in Section 7 shall not, for purposes of Section 7, be subject to cancellation or modification during the five year period. 

8. Deductibility of Payments. Subject to the provisions of Section Code section 409A, in the event that the Company reasonably
anticipates that the payment of benefits in accordance with the Participant’s election under Section 3 of this Article V 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. 
 9. Change of Law. Notwithstanding anything herein to the contrary, if the Committee determines in good faith, based on consultation with counsel and in accordance with the requirements of Code
section 409A, that the Federal income tax treatment or legal status of this NCAP has or may be adversely affected by a change in the Internal Revenue Code, Title I of the Employee Retirement Income Security Act of 1974, or other applicable law or by
an administrative or judicial construction thereof, the Committee may direct that the Accounts of affected Participants or of all Participants be distributed as soon as practicable after such 

  
 10 

 
determination is made, to the extent deemed necessary or advisable by the Committee to cure or mitigate the consequences, or possible consequences of, such change in law or interpretation
thereof. 
 10. Tax Withholding. To the extent required by law, the Company shall withhold from benefit payments
hereunder, or with respect to any amounts credited to a Participant’s Account hereunder, any Federal, state, or local income or payroll taxes required to be withheld and shall furnish the recipient and the applicable government agency or
agencies with such reports, statements, or information as may be legally required. However, the amount of Contributions to be credited to a Participant’s Account will not be reduced or adjusted by the amount of any tax that the Company is
required to withhold with respect thereto. 
 ARTICLE VI 

EXTENT OF PARTICIPANTS’ RIGHTS 
 1. Unfunded Status of Plan. This NCAP 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 NCAP. Notwithstanding the foregoing, to assist the Company in meeting its obligations
under this NCAP, the Company may set aside assets in a trust or trusts described in Revenue Procedure 92-64, 1992-2 C.B. 422 (generally known as a “rabbi trust”), and the Company may direct that its obligations under this NCAP be satisfied
by payments out of such trust or trusts. It is the Company’s intention that this NCAP 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 provided for under Section 3(a) of the NCAP. 

  
 11 

 ARTICLE VII 
 AMENDMENT OR TERMINATION 
 1. Amendment. The Board or its authorized
delegate may amend, modify, suspend or discontinue this NCAP at any time subject to any shareholder approval that may be required under applicable law, provided, however, that no such amendment shall have the effect of reducing a Participant’s
Account Balance or postponing the time when a Participant is entitled to receive a distribution of his or her Account Balance. 

2. Termination. The Board reserves the right to terminate this 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 transaction under Section 16(b) of the Exchange Act, the date of distribution with respect to any Section 16 Person shall be delayed until the earliest date upon which the distribution
either would not result in a nonexempt transaction or would otherwise not result in liability under Section 16(b) of the Exchange Act. 
 ARTICLE VIII 
 ADMINISTRATION 

1. The Committee. This NCAP 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 NCAP to comply with the requirements of Rule 16b-3 of the Exchange Act. The members of the Committee shall be designated by the Board. A majority of
the members of the Committee (but not fewer than two) shall constitute a quorum. The vote of a majority of a quorum or the unanimous written consent of the Committee shall constitute action by the Committee. The Committee and the Claims
Administrator (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 Plan or in any document issued under the Plan, it is intended that the Plan will at all times conform to the requirements of Code section 409A and any regulations or other guidance issued thereunder, and that the provisions of the
Plan will be interpreted to meet such requirements. If any provision of the Plan is determined not to conform to such requirements, the Plan shall be interpreted to omit such offending provision. 

2. Delegation and Reliance. The Committee 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 NCAP 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 NCAP to fail to satisfy the applicable requirements of Rule 

  
 12 

 
16b-3. In making any determination or in taking or not taking any action under this NCAP, 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 NCAP. 

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 NCAP, 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 NCAP or for the
failure of the NCAP or any Participant’s rights under the NCAP to achieve intended tax consequences, to qualify for exemption or relief under Section 16 of the Exchange Act and the rules thereunder, or to comply with any other law,
compliance with which is not required on the part of the Company. 
 4. Facility of Payment. If a minor, person declared
incompetent, or person incapable of handling the disposition of his or her property is entitled to receive a benefit, make an application, or make an election hereunder, the Committee or the Claims Administrator may direct that such benefits be paid
to, or such application or election be made by, the guardian, legal representative, or person having the care and custody of such minor, incompetent, or incapable person. Any payment made, application allowed, or election implemented in accordance
with this Section shall completely discharge the Company and the Committee (or the Claims Administrator) from all liability with respect thereto. 
 5. Proof of Claims. The Committee or the Claims Administrator may require proof of the death, disability, incompetency, minority, or incapacity of any Participant or Beneficiary and of the right of
a person to receive any benefit or make any application or election. 

  
 13 

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

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

  

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

  

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

  
 14 

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

 

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

  

	 	(f)	The Claims Administrator shall be the Lockheed Martin Corporation 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. 

  
 15 

 ARTICLE IX 
 GENERAL AND MISCELLANEOUS PROVISIONS 
 1. Neither this NCAP nor a
Participant’s elections under this NCAP, 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 NCAP or a Participant’s elections limit the
right of the Company at any time and for any reason to terminate the Participant’s employment. In no event shall this Plan or a Participant’s elections, either singly or collectively, by their terms or implications constitute an employment
contract of any nature whatsoever between the Company and a Participant. In no event shall this Plan or a Participant’s elections, either singly or collectively, by their terms or implications in any way limit the right of the Company to change
an Eligible Employee’s compensation or other benefits. 
 2. Any amount credited to a Participant’s Account under this
NCAP shall not be treated as compensation for purposes of calculating the amount of a Participant’s benefits or contributions under any pension, retirement, or other plan maintained by the Company, except as provided in such other plan.

 3. Any written notice to the Company referred to herein shall be made by mailing or delivering such notice to the Company at
6801 Rockledge Drive, Bethesda, Maryland 20817, to the attention of the Senior Vice President, Human Resources. Any written notice to a Participant shall be made by delivery to the Participant in person, through electronic transmission, or by
mailing such notice to the Participant at his or her place of residence or business address. 
 4. In the event it should become
impossible for the Company or the Committee to perform any act required by this Plan, the Company or the Committee may perform such other act as it in good faith determines will most nearly carry out the intent and the purpose of this NCAP.

 5. By electing to become a Participant hereunder, each Eligible Employee shall be deemed conclusively to have accepted and
consented to all the terms of this NCAP and all actions or decisions made by the Company, the Board, or Committee with regard to the NCAP. 
 6. The provisions of this NCAP shall be binding upon and inure to the benefit of the Company, its successors, and its assigns, and to the Participants and their heirs, executors, administrators, and legal
representatives. 
 7. A copy of this NCAP shall be available for inspection by Participants or other persons entitled to
benefits under the Plan at reasonable times at the offices of the Company. 

  
 16 

 8. The validity of this NCAP or any of its provisions shall be construed, administered, and
governed in all respects under and by the laws of the State of Maryland, except as to matters of federal law. If any provisions of this instrument shall be held by a court of competent jurisdiction to be invalid or unenforceable, the remaining
provisions hereof shall continue to be fully effective. 
 9. This NCAP and its operation, including but not limited to, the
mechanics of payment elections, the issuance of securities, if any, or the payment of cash hereunder is subject to compliance with all applicable federal and state laws, rules and regulations (including but not limited to state and federal insider
trading, registration, reporting and other securities laws) and such other approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith.

 10. It is the intent of the Company that this NCAP 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 NCAP 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 NCAP 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 NCAP, the
provisions of this NCAP may at any time be bifurcated by the Board or the Committee in any manner so that certain provisions of this NCAP are applicable solely to Section 16 Persons. Notwithstanding any other provision of this NCAP 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 NCAP 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. 

  
 17 

 ARTICLE X 
 EFFECTIVE DATE 
 This amendment and restatement of the NCAP shall generally
become effective on February 23, 2011. Subsequent amendments to the NCAP are effective as of the date stated in the amendment or the adopting resolution. 

  
 18Exhibit 10.22

 Exhibit 10.22 
 Lockheed Martin Corporation 
 Severance Benefit Plan For Certain Management
Employees 
 Originally Effective January 1, 2008 
 Amended and Restated Effective June 26, 2008 
 Amended and Restated Effective
December 31, 2010 
 Amended and Restated Effective April 3, 2012 

Amended and Restated Effective September 18, 2012 
 Amended and Restated Effective December 14, 2012 
 This document sets forth the terms of the
Lockheed Martin Corporation Severance Benefit Plan for Certain Management Employees (the “Plan”). The Plan provides benefits to Eligible Employees who leave the employment of the Corporation as a result of an Executive Layoff Event and
otherwise satisfy the eligibility requirements of the Plan. The Plan is intended to constitute an employee welfare benefit plan under the Employee Retirement Income Security Act of 1974 (“ERISA”) that provides severance benefits to a
select group of management or highly compensated employees. 
  

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

 

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

 

	 	(b)	Annual Base Pay - An amount equal to fifty-two (52) weeks of Base Pay. 

 

	 	(c)	Base Pay - The Employee’s weekly salary at the time of the Employee’s Termination of Employment. Base Pay shall not include management incentive
compensation, overtime or any other additions to salary. 

  

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

 

	 	(e)	 Cause - Any of the following: (i) Commission of a crime that the Company determines could harm the Company’s reputation or financial
prospects or could subject the Company to penalties or sanctions; (ii) A violation of any of the Company’s corporate policy statements that involve compliance with law which violation the Company determines could harm the Company’s
reputation or financial prospects; (iii) A violation of the Company’s Code of Ethics and Business Conduct that the Company determines could harm the Company’s reputation or financial prospects; (iv) Refusal to cooperate with the
Company in a Company 

  

					
	EXECUTION COPY	 	1	 	

	 	
investigation; or (v) Any similar conduct with respect to which the Company determines in its sole discretion that the payment of a benefit under the Plan would not be in the Company’s
best interest. 

  

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

  

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

 

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

  

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

  

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

 

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

  

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

 

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

  

					
	EXECUTION COPY	 	2	 	

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

  

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

 

	 	(p)	Plan Administrator - Lockheed Martin Corporation. 

  

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

 

	 	(r)	Prorated Bonus Equivalent - (1) An amount equal to (i) an Eligible Employee’s Base Pay multiplied by the target percentage assigned to the
Eligible Employee under Paragraph B of Exhibit A to the Lockheed Martin Corporation 2006 Management Incentive Compensation Plan (2006) (or any successor plan) (“MICP”) and (ii) then multiplying the product obtained under
(i) by the number of weeks in the Plan Year in which the Executive Layoff Event occurs for which the Eligible Employee was paid by the Company for at least one day. 

(2) Notwithstanding the foregoing, with respect to Eligible Employees who are not Officers, the Prorated Bonus Equivalent shall be the
greater of (i) the amount described in (r)(1) above, and (ii) an amount equal to (a) an Eligible Employee’s Base Pay multiplied by the target percentage assigned to the Eligible Employee under Paragraph B of Exhibit A of the
MICP, and (b) then multiplying (in the manner described in under Exhibit A of the MICP) the product obtained under (a) by the most recent organizational and individual factors that were approved by the Company’s Board of Directors
under the MICP prior to the Executive Layoff Event, and (c) then multiplying the product obtained under (b) by the number of weeks in the Plan Year in which the Executive Layoff Event occurs for which the Eligible Employee was paid by the
Company for at least one day.. For the purposes of this Section 1(r), no week may be counted twice. 
  

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

  

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

 

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

  

					
	EXECUTION COPY	 	3	 	

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

  

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

  

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

 

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

  

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

  

	2.	Effective Date. The Plan shall be effective with respect to Executive Layoff Events that occur and are announced on or after January 1, 2008.

  

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

 

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

  

	 	(i)	an Officer, 

  

	 	(ii)	an Employee who has been granted a Long Term Incentive Performance Award for which a performance cycle is still ongoing; or 

 

	 	(iii)	an Employee who is designated in writing by the Senior Vice President, Human Resources to participate in the Plan. 

 

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

  

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

  

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

  

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

  

					
	EXECUTION COPY	 	4	 	

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

 

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

 

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

  

	 	(c)	the Employee is terminated for Cause; or 

  

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

  

					
	EXECUTION COPY	 	5	 	

	5.	Calculation of Severance Benefit. 

  

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

  

	 	(b)	Supplemental Severance Benefit. The following Supplemental Severance Benefits are in addition to the Basic Severance Benefit and are available only to Eligible
Employees who within 45 calendar days of the Eligible Employee’s Termination of Employment as a result of an Executive Layoff Event execute (i) a valid and binding written release of the Company and its directors, officers and Employees of
claims of any kind or nature in respect of the Employee’s employment with the Company and any predecessor employer (and each of their affiliates) in the form supplied by the Company; and do not revoke any such release of claims within any
revocation period provided for in the release of claims, and, (ii) except where prohibited under applicable law, a Post-Employment Conduct Agreement substantially in the form attached to the Plan as Exhibit A and as amended to reflect specific
jurisdictional or other requirements. 

  

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

  

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

  

	 	iii.	For an Eligible Employee who has received a Long Term Incentive Performance Award for which the performance period has not concluded or any other Eligible Employee and
is not covered by Section 5(b)(i) or (ii) above – a lump sum payment equal to the sum of (a) the product of the number of full Years of Service (up to a maximum of 26) credited to the Eligible Employee multiplied by the Eligible
Employee’s weekly rate of Base Pay at the time of termination of employment, plus (b) the Eligible Employee’s Pro Rata Bonus Equivalent, plus (c) Follow-on Benefits. Notwithstanding the foregoing, the Supplemental Severance
Benefit for an Eligible Employee who is not an Officer shall be no less than 13 times the Eligible Employee’s weekly rate of Base Pay at the time of termination of employment. 

 

	 	iv.	In addition to the applicable amount specified in Section (b) (i), (ii), or (iii) above, an Eligible Employee who is receiving a Supplemental Severance
Benefit also will be eligible to receive (a) outplacement services for one year (or, with respect to Eligible Employees who are not Officers, the cash value of the outplacement services as set forth in Section 5(c)(iii)(1), if applicable);
and (b) if the Eligible Employee relocated in order to fill the position held by the Eligible Employee at the time of the Executive Layoff Event, he or she will also be eligible for relocation services in accordance with CPS 538 (or, with
respect to Eligible Employees who are not Officers and who relocated pursuant to CPS 538 within 60 months prior to their Executive Layoff Event , the cash payment set forth in Section 5(c)(iii)(2), if applicable). 

  

					
	EXECUTION COPY	 	6	 	

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

  

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

  

	 	ii.	In the case of payment of a Supplemental Severance Benefit, as soon as practicable following the Eligible Employee’s (a) Executive Layoff Event, and
(b) execution of a release of claims following such Executive Layoff Event, but in no event later than the March 15 immediately following the year in which the Eligible Employee’s Executive Layoff Event occurs. Outplacement and
relocation expenses paid as part of the Supplemental Severance Benefit will be provided by a third party provider selected by the Company. Outplacement or relocation expenses will be paid by the Company to the third party providing the services
following billing to the Company and must be incurred no later than December 31 of the second year following the year in which the Eligible Employee’s Executive Layoff Event occurred and paid by the Company no later than December 31
of the third year following the year in which the Eligible Employee’s termination of employment occurred. 

  

					
	EXECUTION COPY	 	7	 	

	 	iii.	Notwithstanding the foregoing: 

  

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

  

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

  

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

  

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

  

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

  

					
	EXECUTION COPY	 	8	 	

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

  

	6.	Further Conditions on Payment of Severance Benefit. 

  

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

  

	 	(b)	In the event an Eligible Employee who is entitled to a Supplemental Severance Benefit becomes employed by the Company (or an Affiliate) prior to the first anniversary
of his or her Executive Layoff Event, the Eligible Employee shall be obligated to repay to the Company an amount equal to the amount of the Employee’s Supplemental Severance Benefit multiplied by a fraction, the numerator of which is the number
of weeks (capped at 52) in the one-year period following the Employee’s termination of employment during which the Employee is employed by the Company and the denominator of which is (i) fifty-two (52), in the case of an Officer; and
(ii) twenty-six (26) in the case of any other Eligible Employee. 

  

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

  

	 	(d)	 The benefits under the Plan are in lieu of, and not in addition to, any other severance or similar benefits for which the Eligible Employee may be
eligible under any Company plan, policy, agreement or arrangement (including but not limited to the Salaried 

  

					
	EXECUTION COPY	 	9	 	

	 	
Employee Plan). As a condition to receiving a benefit under the Plan, the Company may require that the Eligible Employee waive rights under all other plans, policies, agreements or arrangements
providing severance or similar benefits or may reduce the amount payable under the Plan by the amount payable under any other such plan policy, agreement or arrangement. In no event shall the Company’s administration of the Plan in accordance
with the preceding sentence operate to delay payment of a benefit under the Plan to an Eligible Employee beyond
March 15th immediately following the year in which
such Eligible Employee’s Executive Layoff Event occurs. 

  

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

 

	8.	Claims Procedure. 

  

	 	(a)	The Senior Vice President, Human Resources shall notify each Eligible Employee who has been determined to have incurred an Executive Layoff Event and who is eligible to
receive benefits under the Plan and shall provide any forms required in connection with application for such benefits. If any Employee disagrees with determination of his or her benefits, the Employee may submit a written statement to the Claims
Administrator describing the basis of the claim for benefits, together with any forms required in connection with application for a benefit, at any time within the 120 day period following the date on which the Employee claims to have become
entitled to the Basic Severance Benefits or the Supplemental Severance Benefits. 

  

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

 

	 	(i)	 The Claims Administrator shall, within 90 days after receipt of a claim, furnish to claimant a written notice setting forth, in a manner calculated to
be understood by claimant: (1) the specific reason or reasons for the denial; (2) specific reference to pertinent Plan provisions on which the denial is based; (3) a description of any additional materials or information necessary for
the claimant to perfect the claim and 

  

					
	EXECUTION COPY	 	10	 	

	 	
an explanation of why such material or information is necessary; (4) an explanation of the steps to be taken if the claimant wishes to have the denial reviewed; and (5) a statement of
the claimant’s right to bring a civil action under section 502(a) of ERISA following an adverse determination on review. The 90 day period may be extended for not more than an additional 90 days if special circumstances make such an extension
necessary. The Claims Administrator shall give the claimant, before the end of the initial 90 day period, a written notice of such extension, stating such special circumstances and the date by which the Senior Vice President expects to render a
decision. 

  

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

  

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

  

	 	(iv)	The Claims Administrator will provide an impartial review that takes into account all comments, records and other information submitted by the claimant relating to the
claim, without regard to whether such information was submitted or considered in the initial benefit determination. The Claims Administrator shall make a decision and furnish such decision in writing to the claimant within 60 days after receipt by
the Claims Administrator of the request for review. This period may be extended by the Claims Administrator to not more than 120 days after such receipt if special circumstances make such an extension necessary. The claimant will be notified in
writing prior to the expiration of the original 60 day period if such an extension is required, and such notice will include the reason for the extension and the date by which it is expected that a decision will be reached. The decision on review
shall be in writing, set forth in a manner calculated to be understood by the claimant and shall include: (1) the specific reasons for the decision; (2) specific reference to the pertinent Plan provisions on which the decision is based;
(3) a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records, and other information “relevant” to the claimant’s claim for benefits;
(4) a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; (5) a statement describing any voluntary appeal procedures and
the claimant’s right to obtain information about such procedures, if any; and (6) a statement of the claimant’s right to bring a civil action under section 502(a) of ERISA following an adverse benefit determination on review. In the
event that the Claims Administrator must make a determination of disability in order to decide a claim, the Claims Administrator shall follow the special claims procedures for disability benefits described in Department of Labor Regulation section
2560.503-1(d). The Claims Administrator shall render a decision within a reasonable time (not to exceed 90 days) after the claimant’s request for review, rather than within 120 days as set forth in the above paragraph. 

 

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

  

					
	EXECUTION COPY	 	11	 	

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

 

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

  

					
	EXECUTION COPY	 	12	 	

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

  

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

  

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

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

			
	LOCKHEED MARTIN CORPORATION
		
	By:	 	  

		 	John T. Lucas
		 	Senior Vice President, Human Resources
		
	Date:	 	  

  

					
	EXECUTION COPY	 	13	 	

 Exhibit A 
 Post-Employment Conduct Agreement 
 [Will vary by state and current legal
and professional requirements at time of termination – applicable provisions may be incorporated into the release of claims agreement in lieu of a separate PECA] 
 This Post Employment Conduct Agreement dated [            ] (this “PECA”), together with the Release of Claims being entered into
contemporaneous with this PECA, is entered into in consideration of the payment (“Severance Payment”) to be made to me under the Lockheed Martin Corporation Severance Benefit Plan for Certain Management Employees (“Severance
Plan”). By signing below, I agree as follows: 
 (1) Restrictions Following Termination of Employment. 

(a) Covenant Not To Compete – [NOT APPLICABLE IN CALIFORNIA OR FOR ATTORNEYS] Without the express
written consent of the [Chief Executive Officer/Senior Vice President, Human Resources]1 of the Company, during the [two/one]2 -year period following the date of my termination of employment with the Company (“Termination Date”), I will not, directly or indirectly, be employed by, provide services to, or advise a
“Restricted Company” (as defined in Section 6 below), whether as an employee, advisor, director, officer, partner or consultant, or in any other position, function or role that, in any such case, 

 

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

  

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

(b) Non-Solicit – Without the express written consent of the [Chief Executive Officer/Senior Vice
President, Human Resources]1 of the Company,
during the [two/one]2 -year period following the Termination Date, I will not (i) interfere with any contractual relationship between the Company and any customer, supplier, distributor or manufacturer of or to the
Company to the detriment of the Company or (ii) induce or attempt to induce any person who is an employee of the Company to perform work or services for any entity other than the Company. 

 

	1 	 CEO for elected officers; SVP HR for others. 

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

  

					
	EXECUTION COPY	 	14	 	

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

 

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

 

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

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

(e) Cooperation in Litigation and Investigations – Following the Termination Date, I will, to the extent reasonably
requested, cooperate with the Company in any pending or future litigation (including alternative dispute resolution proceedings) or investigations in which the Company or any of its subsidiaries or

  

					
	EXECUTION COPY	 	15	 	

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

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

  

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

  

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

 (b) The remedy provided in Section 3(a) shall not be the exclusive remedy
available to the Company for any of the conduct described in Section 3(a) and shall not limit the Company from seeking damages or injunctive relief. 
 4. Injunctive Relief. I acknowledge that the Company’s remedies at law may be inadequate to protect the Company against any actual or threatened breach of the provisions of Section 1 or
the conduct described in Section 3(a), and, therefore, without prejudice to any other rights and remedies otherwise available to 

  

					
	EXECUTION COPY	 	16	 	

 
the Company at law or in equity (including but not limited to, an action under Section 3(a), the Company shall be entitled to the granting of injunctive relief in its favor and to specific
performance without proof of actual damages and without the requirement of the posting of any bond or similar security. 
 5.
Invalidity; Unenforceability. It is the desire and intent of the parties that the provisions of this PECA shall be enforced to the fullest extent permissible. Accordingly, if any particular provision of this PECA is adjudicated to be invalid
or unenforceable, this PECA shall be deemed amended to delete the portion adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of this provision in the particular jurisdiction in which such
adjudication is made. 
 6. Definitions. Capitalized terms not defined in this PECA have the meaning given to them in the
Severance Plan, as applicable. For purposes of this PECA, the following terms have the meanings given below: 
 (a)
“Restricted Company” means The Boeing Company, General Dynamics Corporation, Northrop Grumman Corporation, the Raytheon Company, United Technologies Corporation, Honeywell International Inc., BAE Systems Inc., L-3 Communications
Corporation, the Harris Corporation, Thales, EADS North America and (i) any entity directly or indirectly controlling, controlled by, or under common control with any of the foregoing, and (ii) any successor to all or part of the business
of any of the foregoing as a result of a merger, reorganization, consolidation, spin-off, split-up, acquisition, divestiture, or similar transaction. 
 (b) “Competitive Products or Services” means products or services that compete with, or are an alternative or potential alternative to, products sold or services provided by a subsidiary,
business area, division or operating unit or business of the Company as of the Termination Date and at any time within the two-year period ending on the Termination Date; provided, that, (i) if I had direct responsibility for the business of,
or function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Company at any time within the two-year period ending on the Termination Date, Competitive Products or Services includes the products so
sold or the services so provided during that two-year period by the subsidiary, business area, division or operating unit of the Company for which I had responsibility, and (ii) if I did not have direct responsibility for the business of, or
function with respect to, a subsidiary, or for a business area, division or operating unit or business of the Company at any time within the two-year period ending on the Termination Date, Competitive Products or Services includes the products so
sold or the services so provided by a subsidiary, business area, division or operating unit of the Company for which I had access (or was required or permitted such access in the performance of my duties or responsibilities with the Company) to
Confidential or Proprietary Information of the Company at any time during the two-year period ending on the Termination Date. 

  

					
	EXECUTION COPY	 	17	 	

 7. Miscellaneous 

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

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

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

	
	SIGNED this      day of                     ,
2    .
	
	  

	(Signature)
	
	  

	(Printed Name)
	
	  

	(Title)
	
	FOR LOCKHEED MARTIN CORPORATION:
	
	  

	(Signature)
	
	  

	(Printed Name)
	
	  

	(Title)
	
	  

	(Date)

  

					
	EXECUTION COPY	 	18	 	

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

  

					
	EXECUTION COPY	 	19

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}]]