By Calvin Biesecker Months later than expected, the Defense Department and prime contractor Lockheed Martin [LMT] yesterday said they have agreed to terms for the fourth low-rate initial production (LRIP) contract for 32 F-35 Joint Strike Fighter aircraft, although the final award amount was not released. The new contract is fixed-price, which puts more risk on Lockheed Martin if it can't deliver the aircraft on budget. The old contract structure was cost-plus, which means the government absorbs the cost overruns,…
DoD, Lockheed Martin Finally Agree On F-35 LRIP IV Contract
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