Lockheed Martin Corporation Annual Compensation Summary for Non-Employee Directors
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Summary
This document outlines the annual compensation for non-employee directors of Lockheed Martin Corporation. It specifies cash and equity retainers, additional fees for committee chairmanships and lead director roles, and participation in a deferred compensation plan. Directors are required to own stock valued at five times their annual cash retainer within five years. The agreement also provides travel accident insurance and reimbursement for director education expenses.
EX-10.1 2 d949907dex101.htm EXHIBIT 10.1 Exhibit 10.1
Exhibit 10.1
Annual Directors’ Compensation Summary (Non-Employee Directors)
| Annual Cash Retainer | $130,000 per year through June 30, 2015; $145,000 per year effective July 1, 2015 | |
| Annual Equity Retainer | $130,000 for 2015, $145,000 effective January 1, 2016, 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 |
