Lockheed Martin awarded $10M post-termination expenses on VH-71 program

Lockheed Martin awarded $10M post-termination expenses on VH-71 program

9-Sep-2010 Source: US Dept of Defense

Lockheed Martin Corp., Mission Systems and Sensors, Owego, N.Y., is being awarded a $10,077,448 modification to the previously awarded cost-plus-award-fee VH-71 system development and demonstration contract (N00019-05-C-0030), which was terminated for the convenience of the government. This modification provides funding for post-termination related expenses, including, but not limited to, the physical inventory of contractor acquired property, proposal preparation, security, disposition of contract inventory, subcontractor settlement costs, and termination management activities. Work will be performed in Owego, N.Y. (36 percent), and at various subcontractor facilities (64 percent) located in the United States, the United Kingdom and Italy. Work is expected to be completed by September 2011. Contract funds in the amount of $10,077,448 will expire at the end of the current fiscal year. The Naval Air Systems Command, Patuxent River, Md., is the contracting activity.

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