SEC Contract Filing

Filing Date: 2016-02-02

Document Content:
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<TYPE>EX-10.3
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<DESCRIPTION>EX-10.3
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PSU (Domestic and International) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Award Date:
January&nbsp;28, 2016 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">

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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES THAT HAVE BEEN REGISTERED UNDER THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES ACT OF 1933 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top">Lockheed Martin Corporation 2011 Incentive Performance Award Plan: <B><U> </U></B></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Performance Stock Unit Award (2016-2018 Performance Period) </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Awardee: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of the Management
Development and Compensation Committee (the &#147;Committee&#148;) of the Board of Directors of Lockheed Martin Corporation, I am pleased to tell you that you have been granted a Performance Stock Unit Award (&#147;PSUs&#148;) under the
Corporation&#146;s 2011 Incentive Performance Award Plan, as amended (the &#147;Plan&#148;). The purpose of this letter is to serve as the PSU Award Agreement and to set forth your Target Award as well as the terms and conditions to the payment of
your Award. Additional terms and conditions are set forth in the Plan and in the Prospectus relating to the Plan of which the Plan document and this Award Agreement are a part. Your Target Award and the Prospectus are available at
<U>http://www.stockplanconnect.com</U>. You should retain the Prospectus and the attached copy of the Plan in your records. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>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 Compensation and Performance
Management as instructed below as soon as possible but in no event later than May&nbsp;31, 2016.<B> If you do not properly acknowledge your acceptance of this Award Agreement on or before May&nbsp;31, 2016, this Award will be forfeited. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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&nbsp;18 and
in Exhibit A (&#147;Post-Employment Conduct Agreement&#148;) and Exhibit B (&#147;Stock Ownership Requirements&#148;), as amended from time to time, except where prohibited by law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Corporation will comply with all applicable U.S. Tax withholding requirements applicable to the PSUs, the DDEs, and associated Stock.
<B>Please see the prospectus for the Plan for a discussion of certain material U.S. Tax consequences of the Award.</B> 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 PSUs, the DDEs, and associated </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Award Date: January 28, 2016 </P>
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Stock.&nbsp;Please see the tax summary for your country at <U>http://www.stockplanconnect.com</U>. 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.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any withholding
Tax on your Award will be satisfied by means of the Corporation reducing the number of shares of Stock (and associated DDEs) deliverable to you in respect of a vested Award, based upon the mi