SEC Contract Filing

Filing Date: 2024-07-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>3
<FILENAME>noc-06302024xex103.htm
<DESCRIPTION>NON-EMPLOYEE DIRECTOR COMPENSATION TERM SHEET
<TEXT>
<html><head>
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<title>Document</title></head><body><div id="i434a86c4aeaa4500a10ac5379a203e2b_1"></div><div style="min-height:57.6pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Exhibit 10.3</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%;text-decoration:underline">Fees and Expenses</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(effective as of May 15, 2024)</font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:21.254%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:61.016%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.430%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:100%">Retainer&#58;</font></td><td colspan="6" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Retainer fees are paid quarterly, at the end of each quarter. <br>Fees are as follows&#58;</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Annual cash retainer&#58;</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Additional retainer for&#58;</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Lead Independent Director&#58;</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Audit and Risk Committee&#58;</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Audit and Risk Committee chair&#58;&#160;&#160;&#160;&#160;</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Compensation and Human Capital Committee chair&#58; </font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Nominating and Governance Committee chair&#58;</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;Policy Committee chair&#58; &#160;&#160;&#160;&#160;</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:92.75pt;padding-right:2.75pt;text-indent:-90pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">$145,000</font></div><div style="padding-left:92.75pt;padding-right:2.75pt;text-indent:-90pt"><font><br></font></div><div style="padding-left:92.75pt;padding-right:2.75pt;text-indent:-90pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">$50,000</font></div><div style="padding-left:92.75pt;padding-right:2.75pt;text-indent:-90pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">$15,000</font></div><div style="padding-left:92.75pt;padding-right:2.75pt;text-indent:-90pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">$25,000</font></div><div style="padding-left:92.75pt;padding-right:2.75pt;text-indent:-90pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">$25,000</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">$25,000</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">$25,000</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:100%">Equity Grant&#58;</font></td><td colspan="6" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#0000