Document:

Exhibit 10.2

 Exhibit 10.2 
 LOCKHEED MARTIN CORPORATION 
 2006 MANAGEMENT INCENTIVE COMPENSATION PLAN

 (Performance-Based) 
 Approved January 24, 2013 
 ARTICLE I 

PURPOSE OF THE PLAN 

This Plan is established to provide a further incentive to selected Employees to promote the success of Lockheed Martin Corporation by providing an
opportunity to receive additional compensation for performance measured against individual and business unit goals. The Plan is intended to achieve the following: 
  

	 	1.	Link pay of executives to business and individual performance. 

  

	 	2.	Stimulate employees to work individually and as teams to meet objectives and goals consistent with enhancing shareholder value. 

 

	 	3.	Facilitate the Company’s ability to retain qualified employees and to attract top executive talent. 

 

	 	4.	Establish performance goals within the meaning of Section 162(m) of the Internal Revenue Code. 

ARTICLE II 

STANDARD OF CONDUCT AND PERFORMANCE EXPECTATION 
  

	 	1.	It is expected that employees will work towards accomplishing the enterprise, business area and individual goals established under this Plan in accordance with the
Company’s Code of Ethics and Business Conduct. It is a prerequisite to any award that a Participant has acted in accordance with the Code of Ethics and Business Conduct and has fostered an atmosphere to encourage all employees acting under the
Participant’s supervision to perform their duties in accordance with the highest ethical standards. Thus, in evaluating performance against commitments, a Participant’s adherence to the Company’s ethical standards will be considered
paramount in determining awards under this Plan. 

  

	 	2.	Plan Participants whose individual performance is determined to be unacceptable are not eligible to receive Incentive Compensation awards. 

 ARTICLE III 
 DEFINITIONS 
  

	 	1.	ANNUAL SALARY – The annual base salary of a Participant on December 1 of the year preceding the year of payment, but excluding any Incentive Compensation,
commissions, over-time payments, retention payments, equity compensation, indirect payments, retroactive payments not affecting the base salary or applicable to the current year, and any other payments of compensation of any kind.

  

	 	2.	APPLICABLE PERFORMANCE FACTOR – For any Participant, the result obtained by multiplying the Participant’s Individual Performance Factor, applicable Business
Area Performance Factor and the Enterprise Performance Factor. 

  

	 	3.	BOARD OF DIRECTORS – The Board of Directors of the Company. 

  

	 	4.	BUSINESS AREA PERFORMANCE FACTOR – (a) In the case of a Business Area, the performance factor determined for a particular Business Area; and (b) in the
case of Enterprise Operations, the average of all Business Area Performance Factors subject to adjustment as provided under Section C of Exhibit A. 

  

	 	5.	BUSINESS UNIT PERFORMANCE FACTOR – The performance factor assigned to a business unit other than a Business Area or the Company overall. 

 

	 	6.	CODE – The Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated thereunder. 

 

	 	7.	COMMITTEE – The Management Development & Compensation Committee of the Board of Directors as from time to time appointed or constituted by the Board of
Directors. 

  

	 	8.	COMPANY or CORPORATION – Lockheed Martin Corporation and those subsidiaries of which it owns directly or indirectly 50% or more of the voting stock or other
equity. 

  

	 	9.	CORPORATE SALARY BOARD – as defined in CPS-504, the corporate Senior Vice President Human Resources and the Chief Executive Officer. 

 

	 	10.	DISABILITY – Termination of employment as a result of becoming totally disabled as evidenced by commencement of benefits under the Company’s long-term
disability plan in which the Participant is enrolled (or, if not a participant in a Company-sponsored long-term disability plan, under circumstances which would result in the Participant becoming eligible for benefits using the standards set forth
in the Company’s plan). 

  

	 	11.	ELECTED OFFICER – An Employee who has been elected as an officer by the Board of Directors. 

 

	 	12.	ENTERPRISE PERFORMANCE FACTOR – The performance factor assigned with respect to the Company’s overall performance as set forth in Section C of Exhibit A.

  

	 	13.	 EMPLOYEE – Any person who is employed by the Company and who is paid a salary as distinguished from an hourly wage. The term “Employee”
includes only those individuals that the Company classifies on its payroll records as Employees and does not include 

	 	
consultants, independent contractors, leased employees, co-op students, interns, temporary or casual employees, individuals paid by a third party or other individuals not classified as an
Employee by the Company. Notwithstanding the foregoing, the term “Employee” shall not include any employee who, during any part of such year, was represented by a collective bargaining agent. 

 

	 	14.	INCENTIVE COMPENSATION – A payment made pursuant to this Plan. 

  

	 	15.	INDIVIDUAL PERFORMANCE FACTORS – The performance factor assigned to a Participant as set forth in Section B of Exhibit A. 

 

	 	16.	ORGANIZATIONAL PERFORMANCE FACTORS – The Business Area Performance Factor and the Enterprise Performance Factor as set forth in Section C of Exhibit A.

  

	 	17.	PARTICIPANT – Any Employee selected to participate in the Plan in accordance with its terms. 

 

	 	18.	PLAN – This Lockheed Martin Corporation 2006 Management Incentive Compensation Plan (Performance-Based), as amended from time to time. 

 

	 	19.	PLAN YEAR – A calendar year. 

  

	 	20.	REQUIRED APPROVER – (a) the Committee in the case of the Chief Executive Officer; (ii) the Corporate Salary Board in the case of a vice president
(whether appointed or elected); (iii) the relevant business area Executive Vice President in the case of a director level or lower level Employee working in a business area; or (iv) the Elected Officer serving as the head of a corporate
function in the case of all director level or lower level Employees assigned to that corporate function. 

  

	 	21.	RESTRICTED EMPLOYEE – An Employee who is an Elected Officer. 

  

	 	22.	RETIREMENT – Retirement under the terms of a Company-sponsored pension plan or for Employees who do not participate in a pension plan, termination from employment
with the Company following the attainment of age 55 and five years of service or attainment of age 65. 

  

	 	23.	SUBCOMMITTEE – A subcommittee of the Committee, composed solely of two or more outside directors of the Company (within the meaning of Section 162(m)
(4) (C)) or the entire Committee if all members of the Committee are outside directors. 

  

	 	24.	TARGET LEVEL – The target levels assigned to a Participant in accordance with Article V. 

ARTICLE IV 

ELIGIBILITY FOR PARTICIPATION 
 Participants are selected each Plan Year based on recommendations by the Required Approver, subject to the approval of the Chief Executive Officer. Those eligible shall include only those Employees
considered by the Committee to be key Employees of the Company. No member of the Committee shall be eligible for participation in the Plan. 

 ARTICLE V 
 INCENTIVE COMPENSATION PAYMENTS 
  

	 	1.	CALCULATION OF PAYMENTS – Incentive Compensation payments to Participants shall be calculated in accordance with the formula and procedures set forth in Exhibits A
and B hereto. All such payments shall be in cash. 

  

	 	2.	 TARGETS – Target Levels will be assigned to Participants based upon target levels for comparable positions at companies in the comparator group
(for Elected Officers) or other industry surveys used by the Company to determine executive compensation (for participants other than Elected Officers). Target Levels will generally be set by reference to the 50th percentile of the market. At the beginning of each Plan Year or in
connection with an internal promotion or an employment offer made later in a Plan Year, the Required Approver, subject to review by the Chief Executive Officer, shall identify the Employees eligible to participate in the Plan for that Plan Year and
designate a Target Level for each Employee so designated. Target Levels for appointed Vice Presidents and other Elected Officers (other than the Chief Executive Officer) must be approved by the Corporate Salary Board, subject to approval by the
Committee in the case of an Elected Officer. The Committee shall review and recommend the Target Level for the Chief Executive Officer, subject to approval by the Board of Directors. 

 

	 	3.	INDIVIDUAL PERFORMANCE FACTORS – Each Employee designated as eligible for participation for a particular Plan Year shall identify key commitments that will serve
as individual performance goals for that Plan Year on or before March 30 of that Plan Year (or within 30 days of designation as a Participant by the Required Approver or assumption of a new position with eligibility for participation in the
Plan, whichever is later). As soon as practicable following the end of the Plan Year, the performance of each Participant will be evaluated in the respective Business Area or corporate functional area against the Participant’s commitments and
assigned an Individual Performance Factor as provided for in Exhibit A, subject to approval by the Chief Executive Officer. The Individual Performance Factors for Elected Officers, other than the Chief Executive Officer, shall be assigned initially
by the Chief Executive Officer, as provided in Exhibit A, subject to approval by the Committee. The Individual Performance Factor for the Chief Executive Officer of Lockheed Martin Corporation shall be recommended by the Committee and approved by
the Board of Directors. The Committee may, at the request of any member of the Committee, review the Individual Performance Factors of any other Participant or groups of Participants. The Committee may make adjustments to any such performance
factors as it considers appropriate. 

  

	 	4.	 ORGANIZATIONAL PERFORMANCE FACTORS – The Chief Executive Officer (for the Company overall) and each Business Area Executive Vice President (for
each Business Area and business unit for which a Business Unit Factor is required) shall identify key commitments for the Company overall or the Business Area (or business unit), as the case may be for that Plan Year on or before March 30 of
that Plan Year. The commitments may be commitments to financial, strategic or operational goals. The Chief Executive Officer shall review the Enterprise and Business Area commitments with the Committee. At the end of the Plan Year, the Chief
Executive Officer shall evaluate the performance of the Company for purposes of determining the Enterprise Performance Factor and each Business Area for purposes of determining the applicable Business Area Performance Factor in light of their
respective organizational commitments and determine the Enterprise 

	 	
Performance Factor, the Business Area Performance Factors, and the Business Unit Performance Factors, as provided for in Exhibit A, subject to the approval of the Committee.

  

	 	5.	APPROPRIATIONS TO THE PLAN. 

  

	 	A.	The Committee will recommend to the Board of Directors the amount to be appropriated to the Plan by the Company for distribution to Participants and as computed
pursuant to the provisions of this Paragraph 5. To the extent that the aggregate of all proposed payments of Incentive Compensation to all Participants as determined by the application of the formula set forth in Exhibit A (subject to any
adjustments made by the Committee under Paragraph 3 or 4 above or pursuant to Exhibit B) for a particular Plan Year exceeds the amount determined by the Committee to be available for payment, all proposed payments of Incentive Compensation to
Participants shall be reduced on a pro-rata basis. 

  

	 	B.	The Board of Directors will review the recommendations of the Committee as to the amount to appropriate to the Plan for a particular Plan Year. The Board of Directors
may, notwithstanding any provision of the Plan, make adjustments to any proposed Incentive Compensation payment under the Plan, and subject to any such adjustments, the Board of Directors will appropriate to the Plan the amount as recommended by the
Committee for distribution to the Participants; provided that, the Board of Directors may appropriate an amount which is less than the amount recommended by the Committee to be appropriated to all payments of Incentive Compensation, in which event
all proposed payments of Incentive Compensation to Participants shall be reduced on a pro-rata basis. Prior to the determination of the amount to be appropriated under the Plan for any Plan Year, the Board of Directors may authorize the Corporation
to earmark funds or allocate funds to a separate account or trust, in either case for the purpose of making payments under the Plan. 

  

	 	6.	METHOD OF PAYMENT – The amount determined for each Participant with respect to each Plan Year shall be paid to such Participant in cash not later than
March 15 following the Plan Year or deferred at the direction of the Committee, but only to the extent permitted under Code Section 409A, until the Participant’s termination of employment. Notwithstanding the foregoing, Participants
may also elect to defer payments to the extent provided in the Lockheed Martin Corporation Deferred Management Incentive Compensation Plan. 

  

	 	7.	RIGHTS OF PARTICIPANTS – All payments are subject to the discretion of the Board of Directors. No Participant shall have any right to require the Board of
Directors to make any appropriation to the Plan for any Plan Year, nor shall any Participant have any vested interest or property right in any share in any amounts which may be appropriated to the Plan. 

	 	8.	AUTHORITY TO RECOVER PAYMENTS. The Board of Directors retains the authority to make retroactive adjustments to a payment made under the Plan on or after January 1,
2008 under the following circumstances and such other circumstances as may be specified by final regulation issued by the Securities and Exchange Commission entitling the Company to recapture or claw back amounts paid pursuant to the Plan:

  

	 	i.	If the Board of Directors determines, after consideration of all the facts and circumstances that the Board of Directors in its sole discretion considers relevant, that
either (i) the intentional misconduct or gross negligence of a Restricted Employee, or (ii) the failure of a Restricted Employee to report another person’s intentional misconduct or gross negligence of which the Restricted Employee
had knowledge, contributed to the Corporation having to restate all or a portion of its financial statements filed with the Securities and Exchange Commission, then the Board of Directors may require the Restricted Employee repay to the Corporation
the value of any payment under this Plan as determined by the Board of Directors. 

  

	 	ii.	If the Board of Directors, after consideration of all the facts and circumstances that the Board of Directors in its sole discretion considers relevant, determines that
a Restricted Employee either (i) engaged in fraud, bribery or other illegal act, or (ii) the Restricted Employee’s intentional misconduct or gross negligence (including the failure by the Restricted Employee to report the acts of
another person of which the Restricted Employee had knowledge) contributed to another person’s fraud, bribery or other illegal act, which in either case adversely impacted the Corporation’s financial position or reputation, the Board of
Directors may require the Restricted Employee to repay to the Corporation the value of any payment under this Plan as determined by the Board of Directors. 

 The Board of Directors may delegate its authority to make determinations under this Section 8 to the Committee. 
 ARTICLE VI 
 ADMINISTRATION 

The Plan shall be administered under the direction of the Committee. The Committee shall have the right to construe the Plan, to interpret any provision
thereof, to make rules and regulations relating to the Plan, and to determine any factual question arising in connection with the Plan’s operation after such investigation or hearing as the Committee may deem appropriate. Any decision made by
the Committee under the provisions of this Article shall be conclusive and binding on all parties concerned. The Committee may delegate to the officers or employees of the Company the authority to execute and deliver those instruments and documents,
to do all acts and things, and to take all other steps deemed necessary, advisable or convenient for the effective administration of this Plan in accordance with its terms and purpose. The rights and obligations of the Committee under this Article
VI shall be assumed by the Subcommittee in the case of Participants subject to Exhibit B. 
 ARTICLE VII 

AMENDMENT OR TERMINATION OF PLAN 
 The Board of Directors shall have the right to terminate or amend this Plan at any time and to discontinue further appropriations thereto, provided that such termination or amendment shall not be made in
a manner that would cause a Participant to include Incentive Compensation in gross income pursuant to Code Section 409A. 

 ARTICLE VIII 
 EFFECTIVE DATE 
 The Plan shall first be effective with respect to the operations of the
Company for the Plan Year beginning January 1, 2006, contingent upon approval of Exhibit B by the Company’s stockholders at its 2006 annual meeting. The Plan has been amended by the Management Development and Compensation Committee on
January     , 2013, effective January 1, 2013. 
  

			
	LOCKHEED MARTIN CORPORATION:
	
	  

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

 EXHIBIT A 
 CALCULATION OF MANAGEMENT INCENTIVE COMPENSATION PAYMENTS 
  

	A.	AWARD FORMULA 

  

	1.	(a) Incentive Compensation payments will be calculated by multiplying the Participant’s Annual Salary by the applicable Target Level of the Participant (determined
in accordance with Article V above), and that result will then be multiplied by the Applicable Performance Factor which is composed of the Individual Performance Factor (as defined in B), the Enterprise Performance Factor (as defined in C) and the
Business Area Performance Factor (as defined in C). 

 Payments to Participants subject to Exhibit B shall be
reduced to the extent required by Exhibit B. 
 (b) Special Award Formula For Designated Business Units: Notwithstanding
the foregoing, the Salary Board may designate a business unit for which Incentive Compensation will be determined solely on the basis of an Individual Performance Factor and a Business Unit Performance Factor so long as no Elected Officer is an
employee of that Business Unit. 
 (c) The maximum amount that may be authorized for any Participant under this Plan is 200% of a
Participant’s Target Level and payments will be reduced on a Participant-by-Participant basis if necessary so that no Participant receives (or is authorized) more than 200% of a Participant’s Target Level. 

 

	2.	Pro-rated awards for Participants who terminate employment during a Plan Year may be recommended for consideration based on the following: 

 

			
	 Termination Method
	  	 Incentive Compensation Award

		
	Voluntary	  	May be considered for a pro-rated award if on active status December 1 of the Plan Year with a minimum of six (6) full months as an active Plan Participant during the Plan
Year.
		
	Lay Off	  	May be pro-rated based on the conditions of the case at the discretion of the Required Approver if the Participant has a minimum of six (6) full months as an active Plan Participant
during the Plan Year.
		
	Retirement/Disability/Death	  	May be considered for a pro-rated award in the event the Participant has (i) a minimum of six (6) full months as an active Participant during the Plan Year; and (ii) the Participant
terminates employment with the Company on account of Retirement, Disability, or death.

	3.	Pro-rated awards may be recommended for 

  

	 	i.	Employees who become Participants subsequent to the beginning of a Plan Year, and have a minimum of six (6) full months as active Participants during the Plan
Year; 

  

	 	ii.	Employees who are on unpaid leave of absence for more than three (3) months and have a minimum of six (6) full months as an active Participant during the Plan
Year; or 

  

	 	iii.	Employees who are scheduled to work less than full time (less than forty (40) hours per week) and have a minimum of six (6) full-time equivalent months as an
active Participant during the Plan Year. 

  

	4.	Recommended awards for Participants whose Target Levels change during the Plan Year 

 

	 	i.	may be pro-rated (based on number of months at old versus new Target Level), subject to the Required Approver 

 

	 	ii.	may be effective for the entire year based on the new Target Level if the new Target Level is approved prior to March 30 of the Plan Year; or

  

	 	iii.	may be effective for the entire year based on the new Target Level if full-Plan Year application is approved by the Committee. 

 

	5.	Any calculation of Incentive Compensation under this Exhibit A shall be subject to the provisions of the Plan and Exhibit B. Deviations from this Section A are subject
to approval by the Required Approver and the Corporate Salary Board. In the event of any conflict between the terms or application of this Exhibit A and the Plan, the Plan shall prevail. In the event of any conflict between the terms of Exhibit A
and Exhibit B, Exhibit B shall prevail. 

  

	B.	INDIVIDUAL PERFORMANCE FACTORS 

 Individual performance factors are normally in increments of 0.05 for ratings above 0.50 and will have the following definitions: 

 

			
	 Factor
	  	 Performance Definition

	1.20 – 1.25	  	Results significantly exceeded all requirements and expectations
	1.05 – 1.15	  	Results exceeded some requirements and expectations
	1.00	  	Results achieved requirements and expectations
	0.50 – 0.95	  	Results partially achieved some requirements and expectations
	0.00	  	Results did not achieve requirements and expectations

  

	C.	ORGANIZATIONAL PERFORMANCE FACTORS 

 The Organizational Performance Factors will depend on the assessment of the performance of the Company overall and each Business Area (or business unit in the case of Sandia Corporation or similar
designated business unit) in accomplishing the strategic, operational or financial commitments identified at the beginning of the Plan Year. Assessments of and weightings among organizational performance commitments will be determined by the
Committee. 
 Intermediate organizational ratings, as recommended by the Chief Executive Officer and approved by the Committee
for results achieved, may be assigned normally in increments of 0.05 for ratings above 0.50. 

	 	(a)	Enterprise Performance Factor 

  

			
	 Factor
	  	 Performance Definition

	1.20 – 1.30	  	Results significantly exceeded all requirements and expectations
	1.05 – 1.15	  	Results exceeded some requirements and expectations
	1.00	  	Results achieved requirements and expectations
	0.50 – 0.95	  	Results partially achieved some requirements and expectations
	0.00	  	Results did not achieve requirements and expectations

  

	 	(b)	Business Area Performance Factor: 

  

			
	 Factor
	  	 Performance Definition

	1.20 – 1.25	  	Results significantly exceeded all requirements and expectations
	1.05 – 1.15	  	Results exceeded some requirements and expectations
	1.00	  	Results achieved requirements and expectations
	0.50 – 0.95	  	Results partially achieved some requirements and expectations
	0.00	  	Results did not achieve requirements and expectations

 The Business Area Performance Factor for employees of Enterprise Operations shall be the average of the Business Area
Performance Factors determined for the Business Areas. The Compensation Committee may recommend an increase or decrease of 0.05 for an activity which is the responsibility of Enterprise Operations that the Committee determines has an enterprise-wide
impact. 

 EXHIBIT B 
 PERFORMANCE BASED AWARDS 
  

	A.	INCENTIVE COMPENSATION FOR ELECTED OFFICERS. 

 Notwithstanding any provision of the Plan to the contrary, Incentive Compensation awards made to an Elected Officers shall be subject to the terms of this Exhibit B. The terms of Exhibit B were approved
by the stockholders of Lockheed Martin Corporation at its 2006 Annual Meeting. 
  

	B.	IDENTIFICATION OF THE ELECTED OFFICERS. 

 The eligible class of Participants subject to Exhibit B is those Participants who are Elected Officers on the last day of the Plan Year. 

 

	C.	LIMITATION OF INCENTIVE COMPENSATION. 

 Notwithstanding any other provision of this Plan to the contrary, the Incentive Compensation payable under the Plan to (i) the Elected Officer who is the Chief Executive Officer shall not exceed 0.3%
of Cash Flow for the Plan Year; and (ii) each of the Participants who are Elected Officers on the last day of the Plan Year, other than the Chief Executive Officer, shall not exceed 0.2% of Cash Flow for the Plan Year. The Subcommittee shall
have discretion to determine the conditions, restrictions or other limitations, in accordance with and subject to the terms of this Plan and Code Section 162(m), on the payment of Incentive Compensation to the Elected Officers. The Subcommittee
may reserve the right to reduce the amount payable under this paragraph C in accordance with any standards contained in this Plan (including Exhibit A) or on any other basis (including the Subcommittee’s discretion). Neither the Subcommittee or
the Committee, nor the Board of Directors shall have the authority under this Plan to increase the amount payable under this paragraph C. 
  

	D.	SUBCOMMITTEE CERTIFICATION. 

 Before authorizing any Incentive Compensation payment under this Plan to a Participant who is an Elected Officer, the Subcommittee must certify in writing (by resolution or otherwise) that the payments
are consistent with paragraph C of this Exhibit B and that any other material terms under this Plan for payment of a bonus were satisfied. 
  

	E.	DEFINITIONS. 

 For
purposes of this Exhibit B, 
 (i) “Cash Flow” means net cash flow from operations as determined by the Subcommittee at
the end of the Plan Year in accordance with generally accepted accounting principles in the United States. Cash Flow shall be determined by the Subcommittee 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 Subcommittee 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. The Subcommittee 

 
shall have the right to specify any other adjustment that should be applied in determining Cash Flow that it deems necessary or appropriate to take into account any event recognized under any
accounting policy or practice affecting the Corporation, provided the Subcommittee specifies the adjustment at or prior to the time the organizational performance goals for the Corporation are reviewed with the Subcommittee, but in no event later
than March 30 of the Plan Year; 
 (ii) “Subcommittee” means a subcommittee of the Committee, composed solely of
two or more outside directors of the Company (within the meaning of Code Section 162(m) (4) (C)) or the entire Committee if all members of the Committee are outside directors. 

 

	F.	ADMINISTRATION. 

 The
provisions of Exhibit B shall be interpreted and administered by the Subcommittee in a manner consistent with the requirements for “performance-based compensation” under Code Section 162(m).Exhibit 10.3

 Exhibit 10.3 
 RSU (Domestic and International) 
 Award Date: January 28, 2013

 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, 2013. If you do not properly
acknowledge your acceptance of this Award Agreement on or before May 31, 2013, this Award will be forfeited. 

Assuming prompt and proper acknowledgement of your acceptance of this Award Agreement as described above, 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 15,
and Exhibit A (“Post-Employment Conduct Agreement”) and Exhibit B (“Stock Ownership Requirements”). 
  

	1.	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 

 Award Date: January 28, 2013 
  Page
 2
 
  

 
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. 
  

	2.	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 paid to stockholders or dividend equivalents on the RSUs. 
 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” or “DDEs”). Your shares and the cash payment for the DDEs 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. 
 The
Corporation will comply with all applicable U.S. federal, state, and local income and payroll tax withholding requirements applicable to the RSUs, the DDEs, and associated Stock. Please see the prospectus for the Plan for a discussion of certain
material U.S. federal income and payroll tax consequences of the Award. If you are a taxpayer in a country other than the U.S., you agree to make appropriate arrangements with the Corporation or its subsidiaries for the satisfaction of all income
and employment tax withholding requirements, as well as social insurance contributions applicable to the RSUs, the DDEs, and associated Stock. Please see the tax summary for your country at http://www.benefitaccess.com. If you are a taxpayer
in a country other than the U.S., you represent that you will consult with your own tax advisors in connection with this Award and that you are not relying on the Corporation for any tax advice. 

Withholding taxes on Stock deliverable to you will be satisfied by means of the Corporation reducing the number of shares of Stock
delivered to you. 
 If a payment under this Award constitutes nonqualified deferred compensation under Section 409A of the
Code, no payment due upon termination of employment shall be made unless the termination of employment is a “separation from service” as defined in Section 409A of the Code and accompanying regulations. 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 DDEs 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 (“Exchange Act”), delivery of Stock following the expiration of 

 Award Date: January 28, 2013 
  Page
 3
 
  

 
the Restricted Period for any reason may be delayed for six months. For example, if the delivery of the Stock would result in a nonexempt short-swing transaction under Section 16(b) of the
Exchange Act, delivery will be delayed until the earliest date upon which the delivery 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.

 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 DDEs 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 with the office of the Vice President of Total Rewards and
Performance Management (or if your designated beneficiary predeceases you), the Stock and cash payment for the DDEs in respect of your RSUs will be transferred to your estate. 

 

	3.	RESTRICTED PERIOD, FORFEITURE 

 Except as otherwise provided in Section IV below, the vesting of the RSUs awarded under this Award Agreement along with the DDEs is subject to the following:. 

 

	 	(a)	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
DDEs will cease without further obligation on the part of the Corporation unless (i) you personally accept this Award Agreement as provided below by May 31, 2013, and (ii) you 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 28, 2016, subject only to the specific exceptions provided below. 

 

	 	(b)	RSU Performance Goal. If you are an Elected Officer of the Corporation as of the Award Date, you will forfeit a number of whole RSUs to the extent that your
“RSU Award Value” exceeds your “RSU Performance Goal” as follows: 

  

	 	(i)	 At its first meeting after the Corporation finalizes the financial results for the year ending December 31, 2013, the Committee will multiply the
number of RSUs awarded to an Elected Officer under this Award Agreement by the Fair Market Value of Stock on the Award Date ($[        ]) (“RSU Award Value”). The Committee will then compare the RSU
Award Value to the product of the Designated Percentage (as defined herein) and the Corporation’s Cash Flow for the year ending December 31, 2013 

 Award Date: January 28, 2013 
  Page
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(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 the
Chief Executive Officer and President, the Designated Percentage shall be 0.20%. For all other elected officers, the Designated Percentage shall be 0.10%. 

  

	 	(ii)	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 2013 Long Range Plan to be contributed by the Corporation to the Corporation’s defined benefit pension plans during the period and the actual amounts 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 2013 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. 

 If any applicable requirement is 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 DDEs. If you are awarded more than one RSU Award within the same calendar year, such Awards
will be aggregated for the purpose of applying your RSU Performance Goal, and your Performance Shortfall will be applied pro rata to each of your Awards. 
  

	4.	DEATH, DISABILITY, LAYOFF, RETIREMENT 

  

	 	(a)	Death and Disability 

Your RSUs and the DDEs 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 your total disability. Your employment will be treated as terminating because of a total disability on the date you commence
receiving a benefit under the Corporation’s long-term disability plan in which you participate (or, if you are not enrolled in the Corporation’s long-term disability plan, on the date on which long-term disability benefits would have
commenced under the plan under which you would have been covered, had you enrolled, using the standards set forth in that plan). 

 Award Date: January 28, 2013 
  Page
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 The vested RSUs will be exchanged for shares of Stock, and the DDEs 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, 2013, 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 DDEs will cease without further obligation on the part of the Corporation.

  

	 	(b)	Retirement or Layoff 

 If
you retire or are laid off by the Corporation (including through a voluntary separation program that constitutes a window program under Code section 409A) and the effective date of your retirement or layoff is after July 28, 2013, but before
January 28, 2016, you will continue to vest in your RSUs and the DDEs as if you remained employed by the Corporation until January 28, 2016. Notwithstanding the foregoing, if you are an Elected Officer, your RSUs will not be considered
vested until such time as the Committee makes its certification with respect to the RSU Performance Goal, if any, and the amount vested will be reduced by the Performance Shortfall, if any. 

The vested RSUs will be exchanged for shares of Stock, and the related DDEs associated with the vested portion of your RSUs will be paid
in cash as soon as practicable, but no later than the earlier of (i) ninety (90) days after the later of January 28, 2016, or the date the Committee makes its certification with respect to the RSU Performance Goal, and
(ii) March 15, 2017. 
 For purposes of this provision, the term “retirement” means retirement from
service following attainment of (i) age 55 and ten years of service (at the time of termination), or (ii) age 65.  
  

	5.	RESIGNATION OR TERMINATION WITH OR WITHOUT CAUSE 

 Except where prohibited by law, if you resign or your employment otherwise terminates before January 28, 2016, other than on account of death, disability, layoff, or retirement (as described above),
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 DDEs on the date of your
termination. 
  

	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 

 Award Date: January 28, 2013 
  Page
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your RSUs and the DDEs will vest immediately (or following the Committee’s certification of the RSU Performance Goal and reduction to your RSUs for any Performance Shortfall, if later) and
you will receive shares of Stock in exchange for RSUs and the cash payment for the DDEs 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. 

 

	7.	CHANGE IN CONTROL DURING THE RESTRICTED PERIOD 

 In the event of a consummation of a Change in Control during the Restricted Period, the number of RSUs subject to this Award (without regard to any Performance Shortfall) and DDEs thereon will become
vested (i) on the effective date of the Change in Control if the RSUs are not assumed, continued, or equivalent restricted securities are not substituted for the RSUs by the Corporation or its successor, or (ii) if the RSUs are assumed,
continued or substituted by the Corporation or its successor, on the effective date of your involuntary termination by the Corporation other than for Cause (as defined herein, not including death or Total Disability) or your voluntary termination
with Good Reason (as defined herein), in either case, within the 24-month period following the consummation of the Change in Control. 
 In the
event the RSUs and DDEs vest in accordance with this Section VII (whether immediately following the Change in Control or following your termination), the shares of Stock or equivalent substituted securities in which you have become vested and cash
equal to the DDEs (less any tax withholding) shall be delivered to you within 14 days of the date on which you become vested. 
  

	 	(a)	“Cause” shall mean either of the following: 

  

	 	(i)	Conviction for an act of fraud, embezzlement, theft or other act constituting a felony (other than traffic-related offenses or as a result of vicarious liability); or

  

	 	(ii)	Willful misconduct that is materially injurious to the Corporation’s financial position, operating results or reputation; provided, however that no act or failure
to act shall be considered “willful” unless done, or omitted to be done, by you (a) in bad faith; (b) for the purpose of receiving an actual improper personal benefit in the form of money, property or services; or (c) in
circumstances where you had reasonable cause to believe that the act, omission, or failure to act was unlawful. 

  

	 	(b)	“Good Reason” shall mean, without your express written consent, the occurrence of any one or more of the following: 

 

	 	(i)	A material and substantial reduction in the nature or status or your authority or responsibilities; 

 Award Date: January 28, 2013 
  Page
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	 	(ii)	A material reduction in your annualized rate of base salary; 

  

	 	(iii)	A material reduction in the aggregate value of your level of participation in any short or long term incentive cash compensation plan, employee benefit or retirement
plan or compensation practices, arrangements, or policies; 

  

	 	(iv)	A material reduction in the aggregate level of participation in equity-based incentive compensation plans; or 

 

	 	(v)	Your principal place of employment is relocated to a location that is greater than 50 miles from your principal place of employment on the date the Change in Control is
consummated. 

 Your continued employment following an event that would constitute a basis for
voluntary termination with Good Reason shall not constitute Good Reason if you consent to, or waive your rights with respect to any circumstances constituting Good Reason. In addition, the occurrence of an event described in (i) through
(v) shall constitute the basis for voluntary termination for Good Reason only if you provide notice of your intent to terminate employment within 90 days of the first occurrence of such event and the Corporation has had at least 30 days from
the date on which such notice is provided to cure such occurrence. If you do not terminate employment for Good Reason within 180 days after the first occurrence of the applicable grounds, then you will be deemed to have waived your right to
terminate for Good Reason with respect to such grounds. 
  

	8.	CHANGES IN CAPITALIZATION 

In the case of an event described in Section 7 of the Plan during the Restricted Period, the number of your RSUs will be adjusted in
the same manner as if you held actual shares of Stock. 
  

	9.	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 28, 2013 
  Page
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	10.	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, 2013. 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, 2013, as follows: 
  

	 	(a)	Electronic Acceptance: Go to http://www.benefitaccess.com 

  

	 	(b)	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. 
 If you do not personally acknowledge your acceptance of this Award Agreement on or before
May 31, 2013, this Award will be forfeited as noted above. 
  

	11.	POST-EMPLOYMENT COVENANTS 

Except where prohibited by law, 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. 
  

	12.	STOCK OWNERSHIP REQUIREMENTS 

 By accepting this Award Agreement through the procedure described above, you acknowledge receipt of the Stock Ownership Requirements (“Ownership Requirements”) attached as Exhibit B and agree to
comply with such Ownership Requirements, except where prohibited by law. If you are not a Vice President (or above) on January 28, 2013, but you are promoted to Vice President (or above) prior to January 28, 2016, the Ownership
Requirements shall become applicable to you on the date of your promotion to Vice President (or above). 
  

	13.	DATA PRIVACY CONSENT FOR EMPLOYEES LOCATED OUTSIDE OF THE UNITED STATES 

 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

 Award Date: January 28, 2013 
  Page
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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. 
  

	14.	EMPLOYEE ACKNOWLEDGEMENT 

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; 

  

	 	(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. 

 Award Date: January 28, 2013 
  Page
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	15.	ENGLISH LANGUAGE 

 You
have received the terms and conditions of this Award Agreement and any other related communications, and you consent to having received these documents in English. If you have received this Award Agreement or any other documents related to the Plan
translated into a language other than English, and if the translated version is different from the English version, the English version will control. 
  

	16.	ELECTRONIC DELIVERY 

 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) 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 Vice President of Total Rewards and Performance Management at the address noted above. The Company may, in its sole discretion, decide
to deliver any documents related to RSUs awarded under the Plan or future RSUs that may be awarded under the Plan by electronic means or request your consent to participate in the Plan by electronic means. You hereby consent to receive such
documents by electronic delivery and agree to participate in the Plan through any on-line or electronic system established and maintained by the Corporation or another third party designated by the Corporation. 

 

	17.	CURRENCY EXCHANGE RISK 

If your functional currency is not the U.S. dollar, you agree and acknowledges that you will bear any and all risk associated with the
exchange or fluctuation of currency associated with the RSUs, including without limitation sale of the Shares (the “Currency Exchange Risk”). You waive and release the Corporation and its subsidiaries from any potential claims arising out
of the Currency Exchange Risk. 
  

	18.	EXCHANGE CONTROL REQUIREMENTS 

 You agree and acknowledge that you will comply with any and all exchange control requirements applicable to the RSUs and the sale of Shares and any resulting funds including, without limitation, reporting
or repatriation requirements. 
  

	19.	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. 

 Award Date: January 28, 2013 
  Page
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 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 DDEs 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.  

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 28, 2013 
  Page
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 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 28, 2013 (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 “Required Approver” (as defined in Section 6), during the one-year period (or two-year period for
Elected Officers) 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), 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) 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. 

Section 1(a)(i) and (ii) shall not apply to residents of California and individuals who are employed by the Corporation in an attorney
position, as determined in the discretion of the Corporation’s Senior Vice President, General Counsel, and Corporate Secretary or the General Tax Counsel, as applicable. In lieu of Section 1(a)(i) and (ii) and Section 1(b), the
following provisions shall apply to individuals who are employed by the Corporation in an attorney position, as determined in the discretion of the Corporation’s Senior Vice President, General Counsel, and Corporate Secretary or the General Tax
Counsel, as applicable. 
  

	 	(iii)	 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

 Award Date: January 28, 2013 
  Page
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my Termination Date I will comply fully with all applicable ethical and fiduciary obligations that I owe to the Corporation. To the extent permitted by applicable law, including but not limited
to any applicable rules governing attorney conduct, I agree that I will not: 

  

	 	a.	Represent any client adversely to the Corporation; 

  

	 	b.	Reveal to any third party any Confidential or Proprietary information learned by me during the course of my employment with the Corporation except for information that
is or becomes generally known; 

  

	 	c.	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

  

	 	d.	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) Non-Solicit – Without the express written consent of the Required Approver, during the one-year period (two-year period for Elected Officers) 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. This Section 1(b) shall not apply to an individual who is employed by the Corporation as an attorney. 

(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 28, 2013 
  Page
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 (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 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. 

 Award Date: January 28, 2013 
  Page
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 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 another person’s intentional misconduct or gross negligence 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 own Stock issued in respect of
vested RSUs, such Stock; (ii) to the extent I no longer own the shares of Stock of the Corporation issued in respect of the RSUs, cash in an amount equal to the greater of (x) the value of such Stock on the date the associated RSUs vested
(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 Stock as finally reported by the New York Stock Exchange
on such date), and (y) the proceeds received in connection with the disposition of such Stock; and (ii) to the extent I have not earned the RSUs fully, all of my remaining rights, title or interest in my Award and any accrued dividend
equivalents with respect thereto. 
 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 28, 2013 
  Page
 16
 
  

 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. 
 (c) “Required Approver” means: 

 

	 	(i)	with respect to the Chief Executive Officer and President, the Management Development and Compensation Committee of the Corporation’s Board of Directors;

  

	 	(ii)	with respect to any Elected Officer (other than the Chief Executive Officer and President), the Corporation’s Chief Executive Officer; or 

 

	 	(iii)	with respect to all other employees, the Senior Vice President, Human Resources of the Corporation. 

 Award Date: January 28, 2013 
  Page
 17
 
  

 (d) “Elected Officer” means an officer of the Corporation who was elected to
his or her position by the Corporation’s Board of Directors. 
 7. Miscellaneous.  

(a) The Plan, the Award Agreement (with Exhibit B) 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 28, 2013 
  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

	 Executive Chairman of the Board of Directors
	  	6 times
	 Chief Executive Officer and President
	  	6 times
	 Chief Operating Officer
	  	5 times
	 Chief Financial Officer
	  	4 times
	 Executive Vice Presidents
	  	3 times
	 Senior Vice Presidents
	  	2 times
	 Other Elected Officers
	  	2 times
	 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 and Performance Stock Units (based on the Target Award). 

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
Performance 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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