Lockheed Meets Only One of Five F-35 Performance Bonus Goals in 2010, Loses $28 Million

By Gabe Starosta / April 21, 2011 at 5:04 PM
The Defense Department withheld $28 million from Joint Strike Fighter prime contractor Lockheed Martin last year under a program set up to reward contractors for major accomplishments, according to Vice Adm. David Venlet, the F-35's program executive officer. The contractor earned $7 million in bonuses after it met only one of five benchmarks set by the JSF program office. In February 2010, Defense Secretary Robert Gates announced that the Defense Department would withhold $614 million from Lockheed because it had...

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