Lockheed Martin Corporation Annual Compensation Summary for Non-Employee Directors
This document outlines the annual compensation and benefits for non-employee directors of Lockheed Martin Corporation. Directors receive a $130,000 cash retainer and a $130,000 equity retainer, with additional fees for committee chairmanships and the lead director role. Directors can defer their cash retainer, must meet stock ownership guidelines within five years, and are provided with travel accident insurance and reimbursement for director education expenses.
Exhibit 10.29
Annual Directors’ Compensation Summary (Non-Employee Directors)
| Annual Cash Retainer | $130,000 | |
| Annual Equity Retainer | $130,000 payable under the Lockheed Martin Corporation 2009 Directors Equity Plan | |
| Audit Committee Chairman Fees | $25,000 | |
| Management Development and Compensation Committee Chairman Fees | $20,000 | |
| Other Committee Chairman Fees | $15,000 | |
| Lead Director Fees | $25,000 | |
| Deferred Compensation Plan | Deferral plan for cash retainer | |
| Stock Ownership Guidelines | Ownership in common stock or stock units with a value equivalent to five times the annual cash retainer within five years of joining the Board | |
| Travel Accident Insurance | $1,000,000 | |
| Director Education | Reimbursed for costs and expenses |
