Preheat your oven to 350°F (175°C). In a large bowl, combine the Lipton Onion Soup Mix, eggs, water, and 1/3 cup ketchup. Stir the mixture until well blended, then add the ground beef and bread crumbs. Mix everything together with your hands or a sturdy spoon until just combined – be careful not to overwork the meat for a more tender loaf.
Shape the combined meat mixture from Step 1 into a loaf shape. Place the loaf into a loaf pan or a meatloaf pan that has been sprayed with non-stick cooking spray (or lined with foil). Bake in the preheated oven for about 1 hour and 15 minutes, or until an internal thermometer reads at least 165°F (74°C). I like to start checking for doneness at the 1-hour mark to avoid overcooking.
While the meatloaf is baking, make the glaze by combining 1 cup ketchup, brown sugar, and ground mustard in a small saucepan. Warm the mixture over medium heat, stirring until the sugar dissolves completely and the glaze is smooth. For extra depth of flavor, I sometimes let this glaze simmer very gently for a couple of minutes.
Once the meatloaf is cooked through, remove it from the oven and brush the prepared glaze from Step 3 evenly over the top. Let the meatloaf rest for a few minutes before slicing and serving. Resting helps keep the meatloaf juicy and makes slicing easier.