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Lockheed CEO Out Before He Was In, and $3.5 Million Richer [VIDEO]

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Apple settles with HTC.

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Christopher Kubasik was supposed to take over as CEO of the defense contractor Lockheed Martin (NYSE:LMT) at the end of the year. But he's out before he was in. He was ousted late Friday for what the company called "a close personal relationship" with an employee. Kubasik will receive a $3.5-million severance payment.

Apple (NASDAQ:AAPL) has settled all of the back-and-forth patent lawsuits with Taiwanese rival HTC (TPE:2498). It includes a 10-year licensing agreement between the two smartphone makers… but no other details were released.

By the way, the bond market is closed today for Veterans' Day.

For more, click on the image below to play the Daily Finance Market Minute video.

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