Lockheed Martin awarded $59M over VH-71 cancellation

Lockheed Martin awarded $59M over VH-71 cancellation

22-Jun-2010 Source: US Dept of Defense

Lockheed Martin Corp., Mission Systems and Sensors, Owego, N.Y. is being awarded a $58,590,309 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; termination management activities; and applicable fees.  Work will be performed in Owego, N.Y. (36 percent) and at various subcontractor facilities located within the U S, and in the United Kingdom and Italy (64 percent), and is expected to be completed by September 2011.  Contract funds in the amount of $58,590,309 will expire at the end of the current fiscal year.  The Naval Air Systems Command is the contracting activity (N00019-05-C-0030).

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