The federal government announced the deal with the submarine manufacturer recently.
Lockheed Martin (LMT) was awarded a $3.37B undefinitized modification to a previously awarded, cost-plus-fixed-fee, cost-plus-incentive-fee, fixed-price-incentive-fee, and firm-fixed-price contract.
Contractors frequently execute modifications for extra work without considering the impact the boilerplate broad release language in the modification may have on future claims. Government agencies ...