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Exhibit
10.29
 (CITY NATIONAL BANK LOGO)
    
    REVOLVING NOTE(LIBOR and/or Prime)655787/00003$10,000,000.00
    
    Irvine, CaliforniaApril 24, 2006
 SM&A City National Bank Ten
Million Dollars ($10,000,000.00)
   Business Day
 Eurocurrency Reserve Requirement
 Interest Period
 LIBOR Base Rate
 LIBOR Interest Rate
 LIBOR
Base Rate
 LIBOR Loan
 Loan(s)
 Prime Loan




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Prime Rate
 Interest on Loans
 Procedure for LIBOR Loans.
 Availability of LIBOR Loans.
 Prepayment of Principal.
 Suspension of LIBOR Loans.
 Late Charge. th
  1.
    
    Failure to make any payment of principal or interest when due under this Note;2.
    
    Filing of a petition by or against any of such parties under any provision of the
Bankruptcy Code;3.
    
    Appointment of a receiver or an assignee for the benefit of creditors;4.
    
    Commencement of dissolution or liquidation proceedings or the disqualification (under
any applicable law or regulation) of any of such parties which is a corporation,
partnership, joint venture or any other type of entity;5.
    
    Death or incapacity of any of such parties which is an individual;
 2




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6.
    
    Revocation of any guaranty of this Note, or any guaranty of this Note becomes
unenforceable as to any future advances under this Note;7.
    
    Any financial statement provided by any of such parties to CNB is false or materially
misleading;8.
    
    Any material default in the payment or performance of any obligation, or any default
under any provision of any contract or instrument pursuant to which any of such parties
has incurred any obligation for borrowed money, any purchase obligation or any other
liability of any kind to any person or entity, including CNB;9.
    
    Any sale or transfer of all or a substantial part of the assets of any of such
parties other than in the ordinary course of business; or10.
    
    Any violation, breach or default under this Note, any letter agreement, guaranty,
security agreement, deed of trust, subordination agreement or any other contract or
instrument executed in connection with this Note or securing this Note.
    SM&A, a California corporationBy:
    
    
    
    /s/ Cathy L. McCarthyCathy L. McCarthy, President/COOBy:
    
    
    
    /s/ Steve D. HandySteve D. Handy, SVP/CFO/Secretary
 BANK USE ONLY
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NOTICE OF BORROWING/INTEREST SELECTION
 SM&A City National Bank
 1. Request for a Loan.
 1.1
    
    Interest Selection- State LIBOR or Prime:1.2
    
    Principal Amount of Loan:
$ [If LIBOR Loan, minimum
of $ 500,000.00]1.3
    
    LIBOR Loan- Effective Date of Interest Period:
, 20___1.4
    
    LIBOR Loan  Interest Period: ___ month(s) [1, 2, 3, 6, 9 or 12
months only]
 2. Conversion to LIBOR Loan.
 2.1
    
    Effective Date of Conversion: , 20___2.2
    
    Principal Amount of Conversion:
$ [minimum of $500,000.00]2.3
    
    Interest Period: ___ month(s) [1, 2, 3, 6, 9 or 12 months only]
 3. Renewal of LIBOR Loan.
 3.1
    
    Principal Amount of Renewal of LIBOR Loan: $
[minimum of $500,000.00] (Amount of LIBOR Loan not renewed as a LIBOR Loan will be
a Prime Loan)3.2
    
    Date of Renewal:
, 20___[last date of
current Interest Period]3.3
    
    Interest Period:
_________ month(s) [1, 2, 3, 6, 9 or 12 months only]
 4. Conversion to Prime Loan.
 5. Warranty.
 
 Borrower
    
    SM&A, a California corporationBy:Cathy L. McCarthy, President/COOBy:Steve D. Handy, SVP/CFO/Secretary
 4