Document:

Exhibit
4.1

      

      BYLAWS

      

      OF

      

      ASTORIA
FEDERAL SAVINGS AND LOAN ASSOCIATION

      

      Amended
and Restated Effective as of January 31, 1995

      As
Amended Effective July 17, 1996

      As
Amended Effective September 30, 1997

      As
Amended Effective September 30, 1998

      As
Amended Effective July 21, 1999

      As
Amended Effective April 24, 2000

      As
Amended Effective November 17, 2004

      As
Amended Effective on or about May 18, 2005

      As
Amended Effective April 19, 2006

      As
Amended Effective May 20, 2009

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      BYLAWS
OF

      

      ASTORIA
FEDERAL SAVINGS AND LOAN ASSOCIATION

      

      ARTICLE
I. HOME OFFICE

      

      The home
office of Astoria Federal Savings and Loan ("ASSOCIATION") is 37-16 30th Avenue,
Long Island City, New York 11103.

      

      ARTICLE
II. SHAREHOLDERS

      

      Section 1. Place of
Meetings. All annual and special meetings of shareholders shall be held
at the administrative office of the ASSOCIATION located at One Astoria Federal
Plaza, Lake Success, New York or at such other place in the State in which the
principal place of business of the ASSOCIATION is located as the board of
directors may determine.

      

      Section 2. Annual
Meeting. A meeting of the shareholders of the ASSOCIATION for the
election of directors and for the transaction of any other business of the
ASSOCIATION shall be held annually within 120 days after the end of the
ASSOCIATION's fiscal year.

      

      Section 3. Special
Meetings. For a period of five years from the date of the completion of
the conversion of the ASSOCIATION from mutual to stock form, special meetings of
the shareholders relating to a change in control of the ASSOCIATION or to an
amendment of the Charter of the ASSOCIATION may be called only by the board of
directors. Thereafter, special meetings of the shareholders for any purpose or
purposes, unless otherwise prescribed by the regulations of the Office of Thrift
Supervision ("OTS"), may be called at any time by the chairman of the board, the
president, or a majority of the board of directors, and shall be called by the
chairman of the board, the president or the secretary upon the written request
of the holders of not less than one-tenth of all the outstanding capital stock
of the ASSOCIATION entitled to vote at the meeting. Such written request shall
state the purpose or purposes of the meeting and shall be delivered at the home
office of the ASSOCIATION addressed to the chairman of the board, the president
or the secretary.

      

      Section 4. Conduct of
Meetings. Annual and special meetings shall be conducted in accordance
with the most current edition of Robert's Rules of Order unless otherwise
prescribed by regulations of the OTS or these bylaws. The board of directors
shall designate, when present, either the chairman of the board or president to
preside at such meetings.

      

      Section 5. Notice of
Meetings. Written notice stating the place, day and hour of the meeting
and the purpose(s) for which the meeting is called shall be delivered not fewer
than 20 nor more than 50 days before the date of the meeting, either personally
or by mail, by or at the direction of the chairman of the board, the president,
the secretary, or the directors calling the meeting, to each

      
        
           

        

        
           

          
            

          

        

        
           

        

      

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      shareholder
of record entitled to vote at such meeting. If mailed, such notice shall be
deemed to be delivered when deposited in the mail, addressed to the shareholder
at the address as it appears on the stock transfer books or records of the
ASSOCIATION as of the record date prescribed in Section 6 of this Article II,
with postage prepaid. When any shareholders' meeting, either annual or special,
is adjourned for 30 days or more, notice of the adjourned meeting shall be given
as in the case of an original meeting. It shall not be necessary to give any
notice of the time and place of any meeting adjourned for less than 30 days or
of the business to be transacted at the meeting, other than an announcement at
the meeting at which such adjournment is taken.

      

      Section 6. Fixing of Record
Date. For the purpose of determining shareholders entitled to notice of
or to vote at any meeting of shareholders or any adjournment, or shareholders
entitled to receive payment of any dividend, or in order to make a determination
of shareholders for any other proper purpose, the board of directors shall fix
in advance a date as the record date for any such determination of shareholders.
Such date in any case shall be not more than 60 days and, in case of a meeting
of shareholders, not fewer than 10 days prior to the date on which the
particular action, requiring such determination of shareholders, is to be taken.
When a determination of shareholders entitled to vote at any meeting of
shareholders has been made as provided in this section, such determination shall
apply to any adjournment.

      

      Section 7. Voting
Lists. At least 20 days before each meeting of the shareholders, the
officer or agent having charge of the stock transfer books for shares of the
ASSOCIATION shall make a complete list of the shareholders entitled to vote at
such meeting, or any adjournment, arranged in alphabetical order, with the
address and the number of shares held by each. This list of shareholders shall
be kept on file at the home office of the ASSOCIATION and shall be subject to
inspection by any shareholder at any time during usual business hours, for a
period of 20 days prior to such meeting. Such list shall also be produced and
kept open at the time and place of the meeting and shall be subject to the
inspection by any shareholder during the entire time of the meeting. The
original stock transfer book shall constitute prima facie evidence of the
shareholders entitled to examine such list or transfer books or to vote at any
meeting of shareholders.

      

      In lieu
of making the shareholder list available for inspection by shareholders as
provided in the preceding paragraph, the board of directors may elect to follow
the procedures prescribed in '552.6(d)
of the OTS's Regulations as now or hereafter in effect.

      

      Section 8. Quorum. A
majority of the outstanding shares of the ASSOCIATION entitled to vote,
represented in person or by proxy, shall constitute a quorum at a meeting of
shareholders. If less than a majority of the outstanding shares is represented
at a meeting, a majority of the shares so represented may adjourn the meeting
from time to time without further notice. At such adjourned meeting at which a
quorum shall be present or represented, any business may be transacted which
might have been transacted at the meeting as originally notified. The
shareholders present at a duly organized meeting may continue to transact
business until adjournment, notwithstanding the withdrawal of enough
shareholders to constitute less than a quorum.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

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      Section 9. Proxies.
At all meetings of shareholders, a shareholder may vote by proxy executed in
writing by the shareholder or by his duly authorized attorney in fact. Proxies
solicited on behalf of the management shall be voted as directed by the
shareholder or, in the absence of such direction, as determined by a majority of
the board of directors. No proxy shall be valid more than eleven months from the
date of its execution except for a prosy coupled with an interest.

      

      Section 10. Voting of Shares
in the Name of Two or More Persons. When ownership stands in the name of
two or more persons, in the absence of written directions to the ASSOCIATION to
the contrary, at any meeting of the shareholders of the ASSOCIATION any one or
more of such shareholders may cast, in person or by proxy, all votes to which
such ownership is entitled. In the event an attempt is made to cast conflicting
votes, in person or by proxy, by the several persons in whose names shares of
stock stand, the vote or votes to which those persons are entitled shall be cast
as directed by a majority of those holding such and present in person or by
proxy at such meeting, but no votes shall be cast for such stock if a majority
cannot agree.

      

      Section 11. Voting of Shares
by Certain Holders. Shares standing in the name of another corporation
may be voted by any officer, agent or proxy as the bylaws of such corporation
may prescribe, or, in the absence of such provision, as the board of directors
of such corporation may determine. Shares held by an administrator, executor,
guardian or conservator may be voted by him, either in person or by proxy,
without a transfer of such shares into his name. Shares standing in the name of
a trustee may be voted by him, either in person or by proxy, but no trustee
shall be entitled to vote shares held by him without a transfer of such shares
into his name. Shares standing in the name of a receiver may be voted by such
receiver, and shares held by or under the control of a receiver may be voted by
such receiver without the transfer into his name if authority to do so is
contained in an appropriate order of the court or other public authority by
which such receiver was appointed.

      

      A
shareholder whose shares are pledged shall be entitled to vote such shares until
the shares have been transferred into the name of the pledgee and thereafter the
pledgee, shall be entitled to vote the shares so transferred.

      

      Neither
treasury shares of its own stock held by the ASSOCIATION, nor shares held by
another corporation, if a majority of the shares entitled to vote for the
election of directors of such other corporation are held by the ASSOCIATION,
shall be voted at any meeting or counted in determining the total number of
outstanding shares at any given time for purposes of any meeting.

      

      Section 12. Cumulative
Voting. Shareholders shall not be entitled to cumulate their votes for
election of directors.

      

      Section 13. Inspectors of
Election. In advance of any meeting of shareholders, the board of
directors may appoint any persons other than nominees for office as inspectors
of election to act at such meeting or any adjournment. The number of inspectors
shall be either one or three. Any such appointment shall not be altered at the
meeting. If inspectors of election are not so appointed, the

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      -5-

      chairman
of the board or the president may, or on the request of not fewer than 10
percent of the votes represented at the meeting shall, make such appointment at
the meeting. If appointed at the meeting, the majority of the votes present
shall determine whether one or three inspectors are to be appointed. In case any
person appointed as inspector fails to appear or fails or refuses to act, the
vacancy may be filled by appointment by the board of directors in advance of the
meeting, or at the meeting by the chairman of the board or the
president.

      

      Unless
otherwise prescribed by regulations of the OTS, the duties of such inspectors
shall include: determining the number of shares and the voting power of each
share, the shares represented at the meeting, the existence of a quorum, and the
authenticity, validity and effect of proxies; receiving votes, ballots, or
consents; hearing and determining all challenges and questions in any way
arising in connection with the rights to vote; counting and tabulating all votes
or consents; determining the result; and such acts as may be proper to conduct
the election or vote with fairness to all shareholders.

      

      Section 14. Nominating
Committee. The board of directors shall act as a nominating committee for
selecting the nominees for election as directors. Except in the case of a
nominee substituted as a result of the death or other incapacity of a nominee,
the nominating committee shall deliver written nominations to the secretary at
least 20 days prior to the date of the annual meeting. Upon delivery, such
nominations shall be posted in a conspicuous place in each office of the
ASSOCIATION. No nominations for directors except those made by the nominating
committee shall be voted upon at the annual meeting unless other nominations by
shareholders are made in writing and delivered to the secretary of the
ASSOCIATION at least five days prior to the date of the annual meeting. Upon
delivery, such nominations shall be posted in a conspicuous place in each office
of the ASSOCIATION. Ballots bearing the names of all persons nominated by the
nominating committee and by shareholders shall be provided for use at the annual
meeting. However, if the nominating committee shall fail or refuse to act at
least 20 days prior to the annual meeting, nominations for directors may be made
at the annual meeting by any shareholder entitled to vote and shall be voted
upon.

      

      Section 15. New
Business. Any new business to be taken up at the annual meeting shall be
stated in writing and filed with the secretary of the ASSOCIATION at least five
days before the date of the annual meeting, and all business so stated,
proposed, and filed shall be considered at the annual meeting, but no other
proposal shall be acted upon at the annual meeting. Any shareholder may make any
other proposal at the annual meeting and the same may be discussed and
considered, but unless stated in writing and filed with the secretary at least
five days before the meeting, such proposal shall be laid over for action at an
adjourned, special, or annual meeting of the shareholders taking place 30 days
or more thereafter. This provision shall not prevent the consideration and
approval or disapproval at the annual meeting of reports of officers, directors
and committees; but in connection with such reports no new business shall be
acted upon at such annual meeting unless stated and filed as herein
provided.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

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      Section 16. Informal Action
by Shareholders. Any action required to be taken at a meeting of
shareholders, or any other action which may be taken at a meeting of the
shareholders, may be taken without a meeting if consent in writing, setting
forth the action so taken, shall be given by all of the shareholders entitled to
vote with respect to the subject matter.

      

      ARTICLE
III. BOARD OF DIRECTORS

      

      Section 1. General
Powers.  The business and affairs of the ASSOCIATION shall be
under the direction of its board of directors. The board of directors shall
annually elect a chairman of the board and a president from among its members
and shall designate, when present, either the chairman of the board or the
president to preside at its meetings.

      

      Section 2. Number and
Term. The board of directors shall consist of nine members and shall be
divided into three classes as nearly equal in number as possible. The members of
each class shall be elected for a term of three years and until their successors
are elected and qualified. One class shall be elected by ballot
annually.

      

      Section 3. Regular
Meetings. A regular meeting of the board of directors shall be held
without other notice than this bylaw immediately after, and at the same place
as, the annual meeting of shareholders. The board of directors may provide, by
resolution, the time and place, within the ASSOCIATION's normal lending
territory, for the holding of additional regular meetings without other notice
than such resolution.

      

      Section 4.
Qualification. Each director shall at all times be the beneficial owner
of not less than 100 shares of capital stock of the ASSOCIATION unless the
ASSOCIATION is a wholly owned subsidiary of a holding company.

      

      Section 5. Special
Meetings. Special meetings of the board of directors may be called by or
at the request of the chairman of the board, the president or one-third of the
directors. The persons authorized to call special meetings of the board of
directors may fix any place, within the ASSOCIATION's normal lending territory,
as the place for holding any special meeting of the board of directors called by
such persons.

      

      Members
of the board of directors may participate in special meetings by means of
conference telephone, or by means of similar communications equipment by which
all persons participating in the meeting can hear each other. Such participation
shall constitute presence in person but shall not constitute attendance for the
purpose of compensation pursuant to Section 12 of this Article.

      

      Section 6. Notice.
Written notice of any special meeting shall be given to each director at least
two days prior thereto when delivered personally or by telegram, or at least
five days prior thereto when delivered by mail at the address at which the
director is most likely to be reached. Such notice shall be deemed to be
delivered when deposited in the mail so addressed, with postage

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      -7-

      prepaid
if mailed, or when delivered to the telegraph company if sent by telegram. Any
director may waive notice of any meeting by a writing filed with the secretary.
The attendance of a director at a meeting shall constitute a waiver of notice of
such meeting, except where a director attends a meeting for the express purpose
of objecting to the transaction of any business because the meeting is not
lawfully called or convened. Neither the business to be transacted at, nor the
purpose of, any meeting of the board of directors need be specified in the
notice or waiver of notice of such meeting.

      

      Section 7. Quorum. A
majority of the number of directors fixed by Section 2 of this Article III shall
constitute a quorum for the transaction of business at any meeting of the board
of directors, but if less than such majority is present at a meeting, a majority
of the directors present may adjourn the meeting from time to time. Notice of
any adjourned meeting shall be given in the same manner as prescribed by Section
6 of this Article III.

      

      Section 8. Manner of
Acting. The act of the majority of the directors present at a meeting at
which a quorum is present shall be the act of the board of directors, unless a
greater number is prescribed by regulation of the OTS or by these
bylaws.

      

      Section 9. Action Without a
Meeting. Any action required or permitted to be taken by the board of
directors at a meeting may be taken without a meeting if a consent in writing,
setting forth the action so taken, shall be signed by all of the
directors.

      

      Section 10.
Resignation. Any director may resign at any time by sending a written
notice of such resignation to the home office of the ASSOCIATION addressed to
the chairman of the board or president. Unless otherwise specified such
resignation shall take effect upon receipt by the chairman of the board or
president. More than three consecutive absences from regular meetings of the
board of directors, unless excused by resolution of the board of directors,
shall automatically constitute a resignation, effective when such resignation is
accepted by the board of directors.

      

      Section 11.
Vacancies. Any vacancy occurring in the board of directors may be filled
by the affirmative vote of a majority of the remaining directors, although less
than a quorum of the board of directors. A director elected to fill a vacancy
shall be elected to serve until the next election of directors by the
shareholders.  Any directorship to be filled by reason of an increase
in the number of directors may be filled by election by the board of directors
for a term of office continuing only until the next election of directors by the
shareholders.

      

      Section 12.
Compensation. Directors, as such, may receive a stated salary for their
services. By resolution of the board of directors, a reasonable fixed sum, and
reasonable expenses of attendance, if any, may be allowed for actual attendance
at each regular or special meeting of the board of directors. Members of either
standing or special committees may be allowed such compensation for actual
attendance at committee meetings as the board of directors may
determine.

      

      Section 13. Presumption of
Assent. A director of the ASSOCIATION who is present at a meeting of the
board of directors at which action on any ASSOCIATION matter is taken shall
be

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      -8-

      presumed
to have assented to the action taken unless his dissent or abstention shall be
entered in the minutes of the meeting or unless he shall file a written dissent
to such action with the person acting as the secretary of the meeting before the
adjournment thereof or shall forward such dissent by registered mail to the
secretary of the ASSOCIATION within five days after the date a copy of the
minutes of the meeting is received. Such right to dissent shall not apply to a
director who voted in favor of such action.

      

      Section 14. Removal of
Directors. At a meeting of shareholders called expressly for that
purpose, any director may be removed for cause by a vote of the holders of a
majority of the shares then entitled to vote at an election of directors.
Whenever the holders of the shares of any class are entitled to elect one or
more directors by the provisions of the Charter or supplemental sections
thereto, the provisions of this section shall apply, in respect to the removal
of a director or directors so elected, to the vote of the holders of the
outstanding shares of that class and not to the vote of the outstanding shares
as a whole.

      

      Section 15. Age Limitation
of Directors. No person 75 or above years of age shall be eligible for
election, reelection, appointment, or reappointment to the board of directors of
the ASSOCIATION. No director shall serve as such beyond the regular meeting of
the ASSOCIATION which immediately precedes the director becoming 75 years of
age. This age limitation does not apply to an advisory director.

      

      ARTICLE
IV. EXECUTIVE AND OTHER COMMITTEES

      

      Section 1.
Appointment. The board of directors, by resolution adopted by a majority
of the full board, may designate the chief executive officer and two or more of
the other directors to constitute an executive committee. The designation of any
committee pursuant to this Article IV and the delegation of authority shall not
operate to relieve the board of directors, or any director, of any
responsibility imposed by law or regulation.

      

      Section 2. Authority.
The executive committee, when the board of directors is not in session, shall
have and may exercise all of the authority of the board of directors except to
the extent, if any, that such authority shall be limited by the resolution
appointing the executive committee; and except also that the executive committee
shall not have the authority of the board of directors with reference to: the
declaration of dividends; the amendment of the Charter or bylaws of the
ASSOCIATION, or recommending to the shareholders a plan of merger,
consolidation, or conversion; the sale, lease or other disposition of all or
substantially all of the property and assets of the ASSOCIATION otherwise than
in the usual and regular course of its business; a voluntary dissolution of the
ASSOCIATION; a revocation of any of the foregoing; or the approval of a
transaction in which any member of the executive committee, directly or
indirectly, has any material beneficial interest.

      

      Section 3. Tenure.
Subject to the provisions of Section 8 of this Article IV, each member of the
executive committee shall hold office until the next regular annual meeting of
the board of

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      -9-

      directors
following his or her designation and until a successor is designated as a member
of the executive committee.

      

      Section 4. Meetings.
Regular meetings of the executive committee may be held without notice at such
times and places as the executive committee may fix from time to time by
resolution. Special meetings of the executive committee may be called by any
member thereof upon not less than one day's notice stating the place, date and
hour of the meeting, which notice may be written or oral. Any member of the
executive committee may waive notice of any meeting and no notice of any meeting
need be given to any member thereof who attends in person. The notice of a
meeting of the executive committee need not state the business proposed to be
transacted at the meeting.

      

      Section 5. Quorum. A
majority of the members of the executive committee shall constitute a quorum for
the transaction of business at any meeting thereof, and action of the executive
committee must be authorized by the affirmative vote of a majority of the
members present at a meeting at which a quorum is present.

      

      Section 6. Action Without a
Meeting. Any action required or permitted to be taken by the executive
committee at a meeting may be taken without a meeting if a consent in writing,
setting forth the action so taken, shall be signed by all of the members of the
executive committee.

      

      Section 7. Vacancies.
Any vacancy in the executive committee may be filled by a resolution adopted by
a majority of the full board of directors.

      

      Section 8. Resignations and
Removal. Any member of the executive committee may be removed at any time
with or without cause by resolution adopted by a majority of the full board of
directors. Any member of the executive committee may resign from the executive
committee at any time by giving written notice to the president or secretary of
the ASSOCIATION. Unless otherwise specified, such resignation shall take effect
upon its receipt; the acceptance of such resignation shall not be necessary to
make it effective.

      

      Section 9. Procedure.
The executive committee shall elect a presiding officer from its members and may
fix its own rules of procedure which shall not be inconsistent with these
bylaws. It shall keep regular minutes of its proceedings and report the same to
the board of directors for its information at the meeting held next after the
proceedings shall have occurred.

      

      Section 10. Other
Committees. The board of directors may by resolution establish an audit,
loan, or other committees composed of directors as they may determine to be
necessary or appropriate for the conduct of the business of the ASSOCIATION and
may prescribe the duties, constitution and procedures thereof.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

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      ARTICLE
V. OFFICERS

      

      Section 1. Positions.
The officers of the ASSOCIATION shall be a president, one or more vice
presidents, a secretary and a treasurer, each of whom shall be elected by the
board of directors. The board of directors may also designate the chairman of
the board as an officer. The president shall be the chief executive officer,
unless the board of directors designates the chairman of the board as chief
executive officer. The president shall be a director of the ASSOCIATION. The
offices of the secretary and treasurer may be held by the same person and a vice
president may also be either the secretary or the treasurer. The board of
directors may designate one or more vice presidents as executive vice president
or senior vice president. The board of directors may also elect or authorize the
appointment of such other officers as the business of the ASSOCIATION may
require. The officers shall have such authority and perform such duties as the
board of directors may from time to time authorize or determine. In the absence
of action by the board of directors, the officers shall have such powers and
duties as generally pertain to their respective offices.

      

      Section 2. Election and Term
of Office. The officers of the ASSOCIATION shall be elected annually at
the first meeting of the board of directors held after each annual meeting of
the shareholders. If the election of officers is not held at such meeting, such
election shall be held as soon thereafter as possible. Each officer shall hold
office until a successor has been duly elected and qualified or until the
officer's death, resignation or removal in the manner hereinafter provided.
Election or appointment of an officer, employee or agent shall not of itself
create contractual rights. The board of directors may authorize the ASSOCIATION
to enter into an employment contract with any officer in accordance with
regulations of the OTS; but no such contract shall impair the right of the board
of directors to remove any officer at any time in accordance with Section 3 of
this Article V.

      

      Section 3. Removal.
Any officer may be removed by the board of directors whenever in its judgment
the best interests of the ASSOCIATION will be served thereby, but such removal,
other than for cause, shall be without prejudice to the contractual rights, if
any, of the person so removed.

      

      Section 4. Vacancies.
A vacancy in any office because of death, resignation, removal, disqualification
or otherwise, may be filled by the board of directors for the unexpired portion
of the term.

      

      Section 5.
Remuneration. The remuneration of the officers shall be fixed from time
to time by the board of directors.

      

      ARTICLE
VI. CONTRACTS, LOANS, CHECKS AND DEPOSITS

      

      Section 1. Contracts.
To the extent permitted by regulations of the OTS, and except as otherwise
prescribed by these bylaws with respect to certificates for shares, the board of
directors may authorize any officer, employee, or agent of the ASSOCIATION to
enter into any contract or execute and deliver any instrument in the name of and
on behalf of the ASSOCIATION. Such authority may be general or confined to
specific instances.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

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      Section 2. Loans. No
loans shall be contracted on behalf of the ASSOCIATION and no evidence of
indebtedness shall be issued in its name unless authorized by the board of
directors. Such authority may be general or confined to specific
instances.

      

      Section 3. Checks, Drafts,
Etc. All checks, drafts or other orders for the payment of money, notes
or other evidences of indebtedness issued in the name of the ASSOCIATION shall
be signed by one or more officers, employees or agents of the ASSOCIATION in
such manner as shall from time to time be determined by the board of
directors.

      

      Section 4. Deposits.
All funds of the ASSOCIATION not otherwise employed shall be deposited from time
to time to the credit of the ASSOCIATION in any duly authorized depositories as
the board of directors may select.

      

      ARTICLE
VII. CERTIFICATES FOR SHARES

      AND THEIR
TRANSFER

      

      Section 1. Certificates for
Shares. Certificates representing shares of capital stock of the
ASSOCIATION shall be in such form as shall be determined by the board of
directors and approved by the OTS. Such certificates shall be signed by the
chief executive officer or by any other officer of the ASSOCIATION authorized by
the board of directors, attested by the secretary or an assistant secretary, and
sealed with the corporate seal or a facsimile thereof. The signatures of such
officers upon a certificate may be facsimiles if the certificate is manually
signed on behalf of a transfer agent or a registrar, other than the ASSOCIATION
itself or one of its employees. Each certificate for shares of capital stock
shall be consecutively numbered or otherwise identified. The name and address of
the person to whom the shares are issued, with the number of shares and date of
issue, shall be entered on the stock transfer books of the ASSOCIATION. All
certificates surrendered to the ASSOCIATION for transfer shall be cancelled and
no new certificate shall be issued until the former certificate for a like
number of shares has been surrendered and cancelled, except that in case of a
lost or destroyed certificate, a new certificate may be issued upon such terms
and indemnity to the ASSOCIATION as the board of directors may
prescribe.

      

      Section 2. Transfer of
Shares. Transfer of shares of capital stock of the ASSOCIATION shall be
made only on its stock transfer books. Authority for such transfer shall be
given only by the holder of record or by his legal representative, who shall
furnish proper evidence of such authority, or by his attorney authorized by a
duly executed power of attorney and filed with the ASSOCIATION. Such transfer
shall be made only on surrender for cancellation of the certificate for such
shares. The person in whose name shares of capital stock stand on the books of
the ASSOCIATION shall be deemed by the ASSOCIATION to be the owner for all
purposes.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      -12-

      ARTICLE
VIII. FISCAL YEAR; ANNUAL AUDIT

      

      The
fiscal year of the ASSOCIATION shall end on December 31 of each year. The
ASSOCIATION shall be subject to an annual audit as of the end of its fiscal year
by independent public accountants appointed by and responsible to the board of
directors. The appointment of such accountants shall be subject to annual
ratification by the shareholders.

      

      ARTICLE
IX. DIVIDENDS

      

      Subject
to the terms of the ASSOCIATION's Charter and the regulations and orders of the
OTS, the board of directors may, from time to time, declare, and the ASSOCIATION
may pay, dividends on its outstanding shares of capital stock.

      

      ARTICLE
X. CORPORATE SEAL

      

      The board
of directors shall provide an ASSOCIATION seal, which shall be two concentric
circles between which shall be the name of the ASSOCIATION. The year of
incorporation or an emblem may appear in the center.

      

      ARTICLE
XI. AMENDMENTS

      

      These
bylaws may be amended in a manner consistent with regulations of the OTS at any
time by a majority vote of the full board of directors, or by a majority vote of
the votes cast by the shareholders of the ASSOCIATION at any legal
meeting.Unassociated Document

     

    Exhibit
10.1

     

    AMENDED AND RESTATED
EMPLOYMENT AGREEMENT

     

    THIS
EMPLOYMENT AGREEMENT (“Agreement”),
originally executed as of the 19th day of March, 2007, and amended on the 4th day of
August, 2008 is hereby amended this 5th day of May, 2009 by and between ATS
Corporation, a Delaware corporation (the “Corporation”), and
Dr. Edward H. Bersoff, a resident of the State of Maryland (the “Executive”).

     

    WHEREAS,
the Executive commenced service as the Corporation’s Chairman, President and
Chief Executive Officer on January 16, 2007, the date of the closing of the
Corporation’s acquisition of Advanced Technology Systems, Inc.; and

     

    WHEREAS,
the Corporation and the Executive initially formalized the terms of the
employment relationship in this Agreement on March 19, 2007; and

     

    WHEREAS,
the Corporation and the Executive amended the agreement on August 4, 2008 to
extend the term and make certain other revisions to the terms of such employment
relationship; and

     

    WHEREAS,
the parties desire to further extend the term of the Executive’s service as
Chief Executive Officer through December 31, 2011; and

     

    WHEREAS,
the Executive and the Corporation wish to formalize such extension to the
Agreement.

     

    NOW,
THEREFORE, in consideration of the premises and the mutual agreements made
herein, and intending to be legally bound hereby, the Corporation and the
Executive hereby agree to amend and restate the Agreement in the form
hereinafter set forth:

     

    1.           Employment;
Duties.

     

    (a)           Employment and Employment
Period.  The Corporation shall employ the Executive to serve as
the Corporation’s Chairman, Chief Executive Officer, and President (the “Chairman/CEO”) for a
period to be agreed upon by the Executive and the Compensation Committee of the
Board of Directors (the “Compensation
Committee”), such period currently expected to extend until on or about
December 31, 2011 (the “Employment Period”). Further,
the phrase “termination of employment” as used hereinafter, shall be deemed to
be “separation from service” under Section 409A of the Internal Revenue Code
(the “Code”).  The
Employment Period may be extended by mutual agreement of the
parties.

     

    (b)           Offices, Duties and
Responsibilities.  The Executive shall perform such customary,
appropriate and reasonable executive duties as are usually performed by a
corporation’s Chairman, Chief Executive Officer and President .  The
Executive’s offices shall be located at the Corporation’s headquarters building
in McLean, Virginia.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (c)           Devotion to Interests of the
Corporation.  Except as expressly authorized by the Board and
so long as the Executive serves as Chairman/CEO, the Executive will not, without
the prior written consent of the Corporation, directly or indirectly engage in
any other business activities or pursuits, except activities in connection with
(i) any professional, charitable or civic activities (other than as an officer),
(ii) personal investments, (iii) serving as an executor, trustee or in another
similar fiduciary capacity for a non-commercial entity, and (iv) continued
service on a number of corporate boards consistent with the Executive’s current
board service; provided, however,
that any such activities do not materially interfere with the performance of his
responsibilities and obligations pursuant to this Agreement.  The
Executive shall use his best efforts to promote the interests and welfare of the
Corporation.

     

    2.           Compensation and Fringe
Benefits.

     

    (a)           Base
Compensation.  So long as the Executive serves as Chairman/CEO,
the Corporation shall pay the Executive a base salary at the rate of $300,000
per year, as adjusted from time to time with the approval of the Compensation
Committee (“CEO Base
Compensation”).  The CEO Base Compensation shall be payable in
installments in accordance with the Corporation’s normal payroll practices for
compensating executive personnel and shall be subject to payroll deductions and
tax withholdings in accordance with the Corporation’s usual practices and as
required by law.

     

    (b)           Incentive
Compensation.  The Executive shall be entitled to
performance-based incentive compensation within the meaning of Section 409A of
the Code (“Incentive
Compensation”) during the Employment Period in an amount up to 65% of the
CEO Base Compensation.  The Incentive Compensation payable for each
performance period  (which shall not be less than twelve (12) months)
shall be contingent on and based on corporate and individual performance
criteria agreed to between the Executive and the Compensation Committee from
time to time.  The target amount payable as Incentive Compensation, as
agreed upon between the Executive and the Compensation Committee from time to
time, is hereinafter referred to as the “Incentive Compensation
Target.”

     

    (c)           Fringe
Benefits.  The Executive shall also be entitled to such fringe
benefits as are generally made available by the Corporation to executive
personnel, including, but not limited to, health insurance. The Executive also
will be reimbursed for reasonable expenses incurred in connection with travel
and entertainment related to the Corporation’s business and affairs, to be paid
by the Corporation in a manner consistent with past practice and as amended by
any subsequent changes of corporate policy.

     

    (d)           Restricted
Stock.  In connection with the initial execution of this
Agreement in March 2007, the Executive was awarded one hundred fifty thousand
(150,000) shares of restricted stock under the terms of the Company’s 2006
Omnibus Incentive Compensation Plan, thirty thousand (30,000) of such shares to
vest on each December 31 during the Employment Period commencing with December
31, 2007 so long as the Executive continues to serve as Chairman/CEO, and with
acceleration following a change in control as defined in the applicable award
agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.           Trade
Secrets.  The Executive shall not use or disclose any of the
Corporation’s trade secrets or other confidential information.  The
term “trade secrets or other confidential information” includes, by way of
example, matters of a technical nature, such as scientific, trade and
engineering secrets, “know-how,” formulae, secret processes or machines,
inventions, computer programs (including documentation of such programs) and
research projects, and matters of a business nature, such as proprietary
information about costs, profits, markets, sales, lists of customers, plans for
future development, and other information of a similar nature that is designated
as confidential or generally maintained as confidential or proprietary by the
Corporation.  After termination of the Executive’s employment, the
Executive shall not use or disclose trade secrets or other confidential
information unless such information becomes a part of the public domain other
than through a breach of the Corporation's policies or is disclosed to the
Executive by a third party who is entitled to receive and disclose such
information.

     

    4.           Return of Documents and
Property.  Upon the effective date of notice of the Executive’s
or the Corporation’s election to terminate the Executive’s employment, or at any
time upon the request of the Corporation, the Executive (or his heirs or
personal representatives) shall deliver to the Corporation (a) all documents and
materials containing trade secrets or other confidential information relating to
the Corporation's business and affairs, and (b) all documents, materials and
other property belonging to the Corporation, which in either case are in the
possession or under the control of the Executive (or his heirs or personal
representatives).

     

    5.           Discoveries and
Works.  All discoveries and works made or conceived by the
Executive during his employment by the Corporation, jointly or with others, that
relate to the Corporation's activities shall be owned by the
Corporation.  The term “discoveries and works” includes, by way of
example, inventions, computer programs (including documentation of such
programs), technical improvements, processes, drawings and works of
authorship.  The Executive shall (a) promptly notify, make full
disclosure to, and execute and deliver any documents requested by, the
Corporation to evidence or better assure title to such discoveries and works in
the Corporation, (b) assist the Corporation in obtaining or maintaining for
itself at its own expense United States and foreign patents, copyrights, trade
secret protection or other protection of any and all such discoveries and works,
and (c) promptly execute, whether during his employment by the Corporation or
thereafter, all applications or other endorsements necessary or appropriate to
maintain patents and other rights for the Corporation and to protect its title
thereto.  Any discoveries and works which, within six months after the
termination of the Executive’s employment by the Corporation, are made,
disclosed, reduced to a tangible or written form or description, or are reduced
to practice by the Executive and which pertain to the business carried on or
products or services being sold or developed by the Corporation at the time of
such termination shall, as between the Executive and the Corporation, be
presumed to have been made during the Executive’s employment by the
Corporation.  Set forth on Schedule 5 attached hereto is a list of
inventions, patented or unpatented, if any, including a brief description
thereof, which are owned by the Executive, which the Executive conceived or made
prior to his employment by the Corporation and which are excluded from this
Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    6.           Termination.

     

    (a)           Upon
thirty (30) days’ prior written notice the Corporation may terminate the
Executive’s employment, with or without “Cause,” as defined in Section 6(f)
below.  Upon thirty (30) days’ prior written notice, the Executive may
terminate his employment, with or without “Good Reason,” as defined in Section
6(e) below.  Upon any termination of the Executive’s employment (the
“Date of
Termination”) for any reason, the Corporation shall:

     

    
      	
               
      

            	
              (i)

            	
              pay
      to the Executive any unpaid CEO Base Compensation through the Date of
      Termination;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              pay
      to the Executive any unpaid Incentive Compensation earned with respect to
      completed performance periods but not paid through the date of termination
      under the terms of applicable incentive compensation arrangements;
      and

            

    

     

    
      	
               
      

            	
              (iii)

            	
              provide
      to or for the benefit of the Executive the benefits, if any, otherwise
      expressly provided under this Section 6, Section 7 or Section 8, as
      applicable.

            

    

     

    Any
payments under this Section 6, Section 7 or Section 8 that are to be made in
connection with the termination of the Executive’s employment will be paid in
cash (with deduction of such amount as may be required to be withheld under
applicable law and regulations) within ten (10) business days of the Executive’s
termination of employment; provided, however, that in the
event the Executive’s employment is terminated pursuant to Section 6(b) below,
then, at the Corporation’s election, the “No Cause/Good Reason Termination Fee”
(as therein defined) shall be payable in equal monthly installments over the
Applicable Severance Period (as provided in Section 6(b)) with the first payment
due within five business days after the date of the Executive’s termination of
employment (collectively, the “Termination Fee Installment
Payments”).  All other compensation and employment benefit
arrangements provided for in this Agreement shall cease upon such termination of
employment except to the extent required by law or otherwise expressly provided
by such arrangements.

     

    (b)           In
the event the Corporation terminates the Executive’s employment without Cause or
the Executive terminates his employment for Good Reason, then, in addition to
the benefits provided for under Sections 6(a)(i) and 6(a)(ii) and subject to the
provisions of Section 18, the Corporation shall pay to the Executive (i) a
severance benefit equal to the Executive’s then applicable CEO Base Compensation
for a period of twelve (12) months following the termination of employment if
the termination takes place during the Employment  Period (the “Applicable Severance
Period”), (ii) the cost of maintaining the level of health insurance then
maintained by the Executive (including family) under Federal COBRA laws for a
period of eighteen (18) months following the effective date of the termination,
plus (iii) an amount equal to fifty percent (50%) of the Incentive Compensation
Target, if any, applicable for the first calendar year ending during the
Applicable Severance Period (collectively, the “No Cause/Good Reason
Termination Fee”).  In addition, all unvested restricted stock,
stock options and any other equity-based compensation arrangements shall vest,
and all stock options and other equity-based compensation arrangements that must
be exercised shall be exercisable in accordance with the applicable award
agreement. On or before March 15 of the calendar year following the calendar
year in which the Executive’s employment with the Corporation is terminated, the
Corporation shall calculate the amount of Incentive Compensation the Executive
would have received had the Executive remained employed by the Corporation for
the entire applicable calendar year.  To the extent that the amount of
the Incentive Compensation the Executive would have received had the Executive
remained employed by the Corporation for the entire applicable calendar year is
in excess of 50% of the Incentive Compensation Target for that year (the “Overage Amount”), the
Corporation shall then promptly pay to the Executive the Overage
Amount.  No Overage Amount shall be payable in respect of years
following the year in which the Executive’s employment with the Corporation is
terminated.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (c)           In
the event the Corporation terminates the Executive’s employment for Cause, then,
in addition to the benefits provided for under Sections 6(a)(i) and 6(a)(ii),
all unvested stock options and any other equity-based compensation arrangements
shall be terminated and all vested stock options shall be exercisable in
accordance with the applicable award agreement.

     

    (d)           In
the event the Executive terminates his employment without Good Reason, then, in
addition to the benefits provided for under Sections 6(a)(i) and 6(a)(ii), all
unvested stock options and any other equity-based compensation arrangements
shall be terminated and all vested stock options shall be exercisable in
accordance with the applicable award agreement.

     

    (e)           For
purposes of this Agreement, the Executive shall be considered to have “Good Reason” to
terminate his employment if, without his express written consent (except as
contemplated by this Agreement or in connection with the termination of his
employment voluntarily by Executive, by the Corporation for Cause, or under the
circumstances described in Section 8 hereof), (i) the responsibilities of the
Executive are substantially reduced or altered, (ii) the Executive’s CEO Base
Compensation is reduced without his consent, or (iii) the Executive’s offices
are relocated anywhere other than within a fifty (50) mile radius of his office
in McLean, Virginia; provided, however,
that if the Executive terminates this Agreement for one or more of the reasons
stated in clauses (i) or (ii), the Corporation shall have a period of thirty
(30) business days after actual receipt written notice of the Executive’s
assertion of Good Reason to cure the basis for such assertion, and, in the event
of cure (or the commencement of steps reasonably designed to result in prompt
cure), the assertion of Good Reason shall be null and void.

     

    (f)           For
purposes of this Agreement, the Corporation shall have “Cause” to terminate
the Executive’s employment hereunder upon (i) the continued, willful and
deliberate failure of the Executive to perform his duties in a manner
substantially consistent with the manner prescribed by the Board (other than any
such failure resulting from his incapacity due to physical or mental illness),
(ii) the engaging by the Executive in misconduct materially and demonstrably
injurious to the Corporation, (iii) the conviction of the Executive of
commission of a felony, whether or not such felony was committed in connection
with the Corporation’s business, or (iv) the circumstances described in Section
8 hereof, in which case the provisions of Section 8 shall govern the rights and
obligations of the parties; provided, however,
that if the Corporation terminates this Agreement for one or more of the reasons
stated in clauses (i) or (ii), the Executive shall have a period of thirty (30)
business days after actual receipt written notice of the Corporation’s assertion
of Cause to cure the basis for such assertion, and, in the event of cure (or the
commencement of steps reasonably designed to result in prompt cure), the
assertion of Cause shall be null and void.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (g)           Notwithstanding
any other provision hereof, the Executive shall not be entitled to receive any
payment under Section 6 or 7 of this Agreement that is treated as “deferred
compensation” within the meaning of Section 409A of the Code and the regulations
thereunder prior to the time such payment is permitted to be made under Section
409A(a)(2)(B) of the Code.

     

    7.           Change in
Control.

     

    (a)           All
unvested restricted stock, stock options and any other equity-based compensation
arrangements theretofore granted to the Executive shall vest in full on the date
of a “Change in Control” (as defined in Section 7(c) below).

     

    (b)           In
the event that the Corporation terminates the Executive’s employment with the
Corporation without Cause within twelve months after a “Change in Control” (as
defined in Section 7(c) below), or if the Executive terminates his employment
with the Corporation for Good Reason (in accordance with Sections 6(e) and (f)
above) within twelve months after a Change in Control, then, in addition to the
benefits provided for under Sections 6(a)(i) and 6(a)(ii), the Corporation shall
pay to the Executive  a severance benefit equal to (i) the Executive’s
then applicable annual CEO Base Compensation for the Applicable Severance
Period, (ii) the cost of maintaining the level of health insurance then
maintained by the Executive (including family) under Federal COBRA laws
for  a period of eighteen (18) months following the effective date of
the termination, plus (iii) an amount equal to one hundred percent (100%) of the
Incentive Compensation Target, if any, applicable during the first calendar year
ending during the Applicable Severance Period.  The severance benefit
shall be payable in Termination Fee Installment Payments; that is, in equal
monthly installments over the Applicable Severance Period (as defined in Section
6(b)) with the first payment due within five business days after the date of the
Executive’s termination of employment.  In addition, all stock options
and other equity-based compensation arrangements that must be exercised shall be
exercisable in accordance with the terms of the applicable award
agreement.

     

    (c)           For
purposes of this Agreement, “Change in Control”
shall mean an occurrence of any of the following events:

     

    
      	
               
      

            	
              (i)

            	
              an
      acquisition (other than directly from the Corporation) of any voting
      securities of the Corporation (the “Voting
      Securities”) by any “person or group” (within the meaning of
      Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 (the
      “Exchange
      Act”)) other than an employee benefit plan of the Corporation,
      immediately after which such person or group has “Beneficial Ownership”
      (within the meaning of Rule 13d-3 under the Exchange Act) of more than
      fifty percent (50%) of the combined voting power of the Corporation's then
      outstanding Voting Securities; or

            

    

     

    
      	
               
      

            	
              (ii)

            	
              the
      consummation of (A) a merger, consolidation or reorganization involving
      the Corporation, unless the company resulting from such merger,
      consolidation or reorganization (the “Surviving
      Corporation”) shall adopt or assume this Agreement and the
      stockholders of the Corporation immediately before such merger,
      consolidation or reorganization own, directly or indirectly immediately
      following such merger, consolidation or reorganization, at least fifty
      percent (50%) of the combined voting power of the Surviving Corporation in
      substantially the same proportion as their ownership immediately before
      such merger, consolidation or reorganization, (B) a complete liquidation
      or dissolution of the Corporation, or (C) a sale or transfer of all or
      substantially all of the assets of the
  Corporation.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (d)           In
the event that, as a result of payments to or for the benefit of the Executive
under this Agreement or otherwise in connection with a Change in Control, any
state, local or federal taxing authority imposes any taxes on the Executive that
would not be imposed but for the occurrence of a Change in Control, including
any excise tax under Section 4999 of the Internal Revenue Code and any successor
or comparable provision, then, in addition to the benefits provided for under
Sections 6(a)(i) and 6(a)(ii) and under Sections 7(a) and 7(b), the Corporation
(including any successor to the Corporation) shall pay to the Executive at the
time any such tax becomes payable an amount equal to the amount of any such tax
imposed on Executive.

     

    8.           Disability;
Death.

     

    (a)           If,
prior to the expiration or termination of the Employment Period, the Executive
shall be unable to perform his duties by reason of disability or impairment of
health for at least six consecutive calendar months, the Corporation shall have
the right to terminate the Executive’s employment on account of disability by
giving written notice to the Executive to that effect, but only if at the time
such notice is given such disability or impairment is still
continuing.  In the event of a dispute as to whether the Executive is
disabled within the meaning of this Section 8(a), either party may from time to
time request a medical examination of the Executive by a doctor selected by the
Corporation, and the written medical opinion of such doctor shall be conclusive
and binding upon the parties as to whether the Executive has become disabled and
the date when such disability arose.  The cost of any such medical
examination shall be borne by the Corporation.  If the Corporation
terminates the Executive’s employment on account of disability, then, in
addition to the benefits provided for under Sections 6(a)(i) and 6(a)(ii), all
unvested stock options and any other equity-based compensation arrangements
shall be terminated, and all vested stock options shall be exercisable in
accordance with the terms of the applicable award agreement.

     

    (b)           If,
prior to the expiration or termination of the Employment Period, the Executive
shall die, then, in addition to the benefits provided for under Sections 6(a)(i)
and 6(a)(ii), the Employment Period shall terminate without further
notice.  In such an event, all unvested stock options and any other
equity-based compensation arrangements shall be terminated, and all vested stock
options shall be exercisable in accordance with the terms of the applicable
award agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (c)           Nothing
contained in this Section 8 shall impair or otherwise affect any rights and
interests of the Executive under any insurance arrangements, death benefit plan
or other compensation plan or arrangement of the Corporation which may be
adopted by the Board.

     

    9.           Non-Competition/Non-Solicitation.

     

    (a)           Non-Competition.       The
Executive agrees that for a period commencing on the Effective Date and ending
at the end of the Applicable Severance Period (the “Non-Competition
Period”), the Executive will not, except as otherwise provided herein,
engage or participate, directly or indirectly, as principal, agent, officer,
employee, employer or consultant or in any other comparable capacity, in the
conduct or management of, any business which is competitive with any business
conducted by the Corporation.  For the purpose of this Agreement, a
business shall be considered to be competitive with the business of the
Corporation only if such business is engaged in providing services similar to
(i) any service currently provided by the Corporation or provided by the
Corporation during the Employment Period; (ii) any service which in the ordinary
course of business during the Non-Competition Period evolves from or results
from enhancements to the services provided by the Corporation as of the
Effective Date or during the Non-Competition; or (iii) any future service of the
Corporation as to which the Executive materially and substantially participated
in the design or enhancement.  Nothing in this Section 9(a) shall be
interpreted to prohibit the Executive from continuing to serve as a non-employee
member of the board of directors of services companies that may compete with the
Corporation or, during the Chairman Only Period, as the non-executive chairman
of the board of such companies.

     

    (b)           Non-Solicitation of
Employees.  During the Non-Competition Period, the Executive
will not (for the Executive’s own benefit or for the benefit of any person or
entity other than the Corporation) solicit, or assist any person or entity other
than the Corporation to solicit, any officer, director, executive or employee of
the Corporation or its affiliates to leave his or her employment.

     

    (c)           Reasonableness.  The
Executive acknowledges that (i) the markets served by the Corporation are
national and are not dependent on the geographic location of executive personnel
or the businesses by which they are employed, (ii) the length of the
Non-Competition Period is related to the length of the Employment Period and the
Corporation’s agreement to provide severance benefits as set forth in Sections 6
or 7, above, that, under certain circumstances, will provide additional
compensation to the Executive upon the termination of the Executive’s
employment; and (iii) the above covenants are reasonable on their face, and the
parties expressly agree that such restrictions have been designed to be
reasonable and no greater than is required for the protection of the
Corporation.

     

    (d)           Investments.  Nothing
in this Agreement shall be deemed to prohibit the Executive from owning equity
or debt investments in any corporation, partnership or other entity which is
competitive with the Corporation, provided that such
investments (i) are passive investments and constitute five percent (5%) or less
of the outstanding equity securities of such an entity the equity securities of
which are traded on a national securities exchange or other public market, or
(ii) are approved by the Compensation Committee.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    10.           Waiver.  The
waiver of the breach of any term or provision of this Agreement shall not
operate as or be construed to be a waiver of any other or subsequent breach of
this Agreement.  Failure by the Executive or the Corporation to insist
upon strict compliance with any provision of this Agreement or to assert any
right the Executive or the Corporation may have hereunder, including, without
limitation, the right of the Executive to terminate employment for Good Reason,
shall not be deemed to be a waiver of such provision or right or of any other
provision or rights under this Agreement.

     

    11.           Enforcement.  The
Executive agrees that the Corporation’s remedies at law for any breach or threat
of breach by him of Sections 3, 4, 5 or 9 hereof will be inadequate, and that
the Corporation shall be entitled to an injunction or injunctions to prevent
breaches of Sections 3, 4, 5 or 9 hereof and to enforce specifically the terms
and provisions thereof, in addition to any other remedy to which the Corporation
may be entitled at law or equity.  If the Corporation sues to enforce
Sections 3, 4, 5 or 9 hereof and fails to prevail in such proceeding, the court
shall award to the Executive his reasonable fees for his attorneys, the
reasonable expenses of his witnesses, and any other reasonable expenses incurred
in connection with the proceeding to the extent that the court determines that
the Executive has prevailed in such proceeding.

     

    12.           Arbitration.  Any
dispute or claim other than those referred to in Section 11, arising out of or
relating to this Agreement or otherwise relating to the employment relationship
between the Executive and the Corporation, shall be submitted to arbitration, in
Fairfax County, Virginia, before a single arbitrator, in accordance with the
rules of the American Arbitration Association as the exclusive remedy for such
claim or dispute.  The Executive and the Corporation agree that such
arbitration will be confidential and no details, descriptions, settlements or
other facts concerning such arbitration shall be disclosed or released to any
third party without the specific written consent of the other party, unless
required by law or court order or in connection with enforcement of any decision
in such arbitration.  Any damages awarded in such arbitration shall be
limited to the contract measure of damages, and shall not include punitive
damages.  In any proceeding, whether commenced by the Executive or by
the Corporation, the arbitrator shall award to the Executive his reasonable fees
for his attorneys, the reasonable expenses of his witnesses, and any other
reasonable expenses incurred in connection with the arbitration to the extent
that the arbitrator determines that the Executive has prevailed in such
proceeding.

     

    13.           Full
Settlement.  The Corporation’s obligation to make any payments
provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any set-off, counterclaim, recoupment,
defense or other claim, right or action which the Corporation may have against
the Executive or others.  In no event shall the Executive be obligated
to seek other employment or take other action by way of mitigation of the
amounts payable to the Executive under any of the provisions of this Agreement,
and such amounts shall not be reduced whether or not the Executive obtains other
employment.

     

    14.           Severability.  Should
any provision of this Agreement be determined to be unenforceable or prohibited
by any applicable law, such provision shall be ineffective to the extent, and
only to the extent, of such unenforceability or prohibition without invalidating
the balance of such provision or any other provision of this Agreement, and any
such unenforceability or prohibition in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    15.           Counterparts.  This
Agreement may be executed in any number of counterparts, and each such
counterpart shall be deemed to be an original instrument, but all such
counterparts together shall constitute one and the same instrument.

     

    16.           Assignment.  The
Executive’s rights and obligations under this Agreement shall not be assignable
by the Executive.  The Corporation's rights and obligations under this
Agreement shall not be assignable by the Corporation except as incident to the
transfer, by merger or otherwise, of all or substantially all of the business of
the Corporation in a transaction in which the successor entity remains obligated
under, or by operation of law or otherwise assumes, the Corporation’s
obligations under this Agreement.  In the event of any such assignment
by the Corporation, all rights of the Corporation hereunder shall inure to the
benefit of the assignee.

     

    17.           Notices.  Any
notice required or permitted under this Agreement shall be deemed to have been
effectively made or given if in writing and personally delivered or sent by
registered or certified U.S. mail, UPS or recognized overnight courier, properly
addressed in a sealed envelope, with delivery charges prepaid.  Unless
otherwise changed by notice, notice shall be properly addressed to the Executive
if addressed to:

     

    Dr.
Edward H. Bersoff

    7710
Woodmont Ave., Unit 1210

    Bethesda,
MD  20814

    

    and
properly addressed to the Corporation if addressed to:

    

    ATS
Corporation

    7925
Jones Branch Drive

    McLean,
Virginia 22102

    Attention:  Chairman
of Compensation Committee

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    18.           Compliance with Section
409A.  Because the parties hereto intend that any payment under
this Agreement shall be paid in compliance with Section 409A of the Code (“Section 409A”) and
all regulations, guidance and other interpretative authority thereunder, such
that there will be no adverse tax consequences, interest or penalties as a
result of such payments, the parties hereby agree to modify this Agreement with
respect to the timing (but not the amount) of any payment to the extent
necessary to comply with Section 409A and avoid application of any taxes,
penalties or interest thereunder.  Notwithstanding any provision of
this Agreement to the contrary, if the Executive is a “specified employee” as
defined in Section 409A, the Executive shall not be entitled to any payments
upon Date of Termination until the earlier of (a) the date which is six (6)
months after Date of Termination for any reason other than death, or (b) the
date of the Executive’s death.  Any amounts otherwise payable to the
Executive following Date of Termination that are not so paid by reason of this
Section 18 shall be paid as soon as practicable after the date that is six (6)
months after Date of Termination (or, if earlier, the date of the Executive’s
death).  The provisions of this Section 18 shall only apply if, and to
the extent, required to comply with Section 409A in a manner such that the
Executive is not subject to additional taxes and/or penalties under Section
409A.

    

    19.           Miscellaneous.  Except
for the separate agreement related to the award of restricted stock contemplated
by Section 2(a), this Agreement constitutes the entire agreement, and terminates
and supersedes all prior agreements, of the parties hereto relating to the
subject matter hereof, and there are no written or oral terms or representations
made by either party other than those contained herein, except that nothing
contained in this Agreement shall invalidate or supersede the terms of any
previously or subsequently granted stock options or other equity-based
compensation arrangements (including without limitation the provisions thereof
relating to post termination exercisability) to the extent that such stock
options or arrangements provide more favorable terms to the
Executive.  The validity, interpretation, performance and enforcement
of this Agreement shall be governed by the laws of the Commonwealth of Virginia,
without giving effect to conflicts of laws principles.  The headings
contained herein are for reference purposes only and shall not in any way affect
the meaning or interpretation of this Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Amended and Restated
Employment Agreement effective as of the day and year first above
written.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	
                                      EXECUTIVE:

                                    	 
	 
      	 
	 
      	
                                      /s/
      Dr. Edward H. Bersoff

                                    	 
	 
      	
                                      Dr.
      Edward H. Bersoff

                                    	 
	 
      	 
	
                                      CORPORATION:

                                    	 
	 
      	 
	 
      	
                                      ATS
      Corporation

                                    	 
	 
      	
                                      a
      Delaware Corporation

                                    	 

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              	 	
                                                      By:

                                                    	
                                                      /s/
      Joseph A. Saponaro

                                                    	 
	 	 	
                                                      Joseph
      A. Saponaro

                                                    	 
	 	 	
                                                      Chairman,
      Compensation Committee

                                                    	 

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
5

     

    Inventions
Owned by Executive

     

    None

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