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 |