Document:

Exhibit 4.1

 

Unless this certificate is presented
by an authorized representative of The Depository Trust Company, a New York Corporation (“DTC”), to the Company or
its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede &
Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or
to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

 

Certificate No.: 1 

CUSIP No.: 637432MV4

ISIN No.: US637432MV48

PRINCIPAL AMOUNT: $400,000,000

MATURITY DATE: November 15, 2023

ISSUE DATE: November 5, 2013

CERTIFICATE INTEREST RATE: 3.40%

 

3.40% COLLATERAL TRUST BOND DUE 2023

 

National Rural Utilities Cooperative Finance
Corporation, a District of Columbia cooperative association (hereinafter called the “Company”, which term includes
any successor corporation under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to
Cede & Co., or registered assigns, the principal sum of $400,000,000 on the Maturity Date set forth above; and to pay interest
thereon from the Issue Date set forth above at the Certificate Interest Rate set forth above, until the principal hereof is paid
or made available for payment.

 

Interest on the Bonds will be payable on May
15 and November 15 of each year commencing on May 15, 2014 to the persons in whose names such Bonds are registered at the close
of business on the fifteenth calendar day preceding the payment date, or if not a Business Day, the next succeeding Business Day.
Interest on the Bonds will accrue from and including the date of issue or from and including the last date in respect of which
interest has been paid, as the case may be, to, but excluding, the relevant interest payment date, date of redemption or the date
of maturity, as the case may be. Interest on the Bonds will be computed on the basis of a 360-day year of twelve 30-day months.

 

If any of the interest payment dates or the
maturity date falls on a day that is not a Business Day, the payment of interest or principal will be postponed to the next succeeding
Business Day, but the payment made on such dates will be treated as being made on the date payment was first due and the holders
of the Bonds will not be entitled to any further interest or other payments with respect to such postponements.

 

Reference is hereby made to the further provisions
of this Bond set forth on the reverse hereof which further provisions shall for all purposes have the same effect as if set forth
at this place.

 

Unless the certificate of authentication hereon
has been executed by or on behalf of U.S. Bank National Association, as Trustee under the Indenture, or its successor thereunder,
by manual signature, this Bond shall not be entitled to any benefit under such Indenture, or be valid or obligatory for any purpose.

 

    	 

    	 

    

 

 

 

IN WITNESS WHEREOF, the Company has caused
this instrument to be duly executed under its corporate seal.

 

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORPORATION

 

By: ___________________________________

J. Andrew Don

Senior Vice President and

Chief Financial Officer

(Seal)

Attest:

 

By: ___________________________________

Assistant Secretary-Treasurer

 

Trustee’s Certificate
of

Authentication

This is one of the Bonds

of the series designated therein,

described in the within-

mentioned Indenture

 

Dated:

 

 

By: U.S. BANK NATIONAL ASSOCIATION,

Trustee

 

By: ___________________________________

Authorized
Officer

 

    	 

    	 

    

 

REVERSE OF BOND

 

This Bond is one of an authorized issue of
Bonds of the Company known as its “3.40% Collateral Trust Bonds due 2023”, issued and to be issued in one or more series
under, and all equally and ratably secured (except as any sinking or other fund may afford additional special security for the
Bonds of any particular series) by, an Indenture dated as of October 25, 2007 (as amended, supplemented and modified and in effect
from time to time, the “Indenture”), executed by the Company to U.S. Bank National Association, as Trustee (herein
called the “Trustee”, which term includes any successor Trustee under the Indenture), to which Indenture reference
is hereby made for a description of the nature and extent of the securities and other property assigned, pledged, transferred and
mortgaged thereunder the rights of the Holders of said Bonds and of the Trustee and of the Company in respect of such security,
and the terms upon which said Bonds are to be authenticated and delivered.

 

The principal amount of the Bonds, designated
on the face hereof as $400,000,000, may be increased from time to time pursuant to Section 2.03 of the Indenture. All Bonds need
not be issued at the same time and such series may be reopened at any time, without the consent of any Holder, for issuance of
additional Bonds. Any such additional Bonds will have the same terms and conditions and the same CUSIP number as set forth herein.
No Bonds shall be authenticated and delivered in excess of the principal amount so increased except in accordance with the Indenture.
No additional Bonds shall be authenticated and delivered unless such additional Bonds would be fungible with all Bonds for United
States federal income tax purposes.

 

The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of
the Holders of the Bonds under the Indenture at any time by the Company with the consent of the Holders of not less than a majority
in aggregate principal amount of the Bonds at the time Outstanding as defined in the Indenture. The Indenture also permits, without
the consent of the holders of any Bonds, the parties to any Mortgage Notes pledged under the Indenture, and any Mortgages or Loan
Agreements pursuant to which they were issued, to modify, alter, supplement or amend such Mortgage Notes, Mortgages and Loan Agreements,
so long as thereafter such Mortgage will comply with the requirements of the Company’s standard lending practices, as such
policies may be amended from time to time. The Indenture also contains provisions permitting the Holders of specified percentages
in principal amount of the Bonds at the time Outstanding, on behalf of the Holders of all Bonds, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent
or waiver by the Holder of this Bond shall be binding upon such Holder and upon all future Holders of this Bond and of any Bond
issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such action is made upon this
Bond.

 

As provided in the Indenture, said Bonds are
issuable in series which may vary as in said Indenture provided or permitted. This Bond is one of a series entitled 3.40% Collateral
Trust Bonds due 2023.

 

    	 

    	 

    

 

 

The Company may redeem the Bonds at any time
prior to August 15, 2023, in whole or in part, at a “make-whole” redemption price equal to the greater of (1) 100%
of the principal amount being redeemed or (2) the sum of the present values of the remaining scheduled payments of the principal
and interest (other than accrued interest) on the Bonds being redeemed, discounted to the redemption date on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points for the Bonds, plus in each
of (1) and (2) above, accrued interest to, but excluding, the redemption date.

 

At any time on or after August 15, 2023, the
Company may redeem the Bonds, at its option, in whole or in part, at a redemption price equal to 100% of the principal amount of
the Bonds to be redeemed, plus accrued and unpaid interest thereon to, but excluding, the redemption date.

 

If the Company elects to redeem less than
all of the Bonds, and such Bonds are at the time represented by a global security, then the depositary will select by lot the particular
interest to be redeemed. If the Company elects to redeem less than all of the Bonds, and such Bonds are not represented by a global
security, the particular Bonds to be redeemed shall be selected by the Trustee from the outstanding Bonds not previously called
for redemption, in a manner the Trustee deems appropriate and fair.

 

Notice of any redemption will be mailed
at least 30 days but not more than 60 days before the date of redemption to each holder of the Bonds to be redeemed. Unless the
Company defaults in payment of the redemption price, on and after the date of redemption, interest will cease to accrue on such
Bonds or the portions called for redemption.

 

If an Event of Default, as defined in the
Indenture, shall occur, the principal of this Bond may become or be declared due and payable immediately, in the manner and with
the effect provided in the Indenture.

 

This Bond is transferable by the registered
owner hereof in person or by attorney authorized in writing at the office or agency of the Company in the Borough of Manhattan,
City and State of New York or any other place or places where such Bond may be paid, upon surrender of this Bond, and upon any
such transfer a new Bond for the same series, for the same aggregate principal amount, will be issued to the transferee in exchange
hereof.

 

The Bonds of this series are issuable only
as registered Bonds without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided
in, and subject to the provisions of, the Indenture, Bonds of this series are exchangeable for other Bonds of this series of any
authorized denominations, of a like aggregate principal amount, as requested by the Holder surrendering the same.

 

No service charge will be made for any such
transfer or exchange, but the Company or the Trustee may require payment of a sum sufficient to cover any tax or other governmental
charge payable in connection therewith.

 

Prior to due presentment for transfer at any
office or agency of the Company designated for such purpose, the Company, the Trustee and any agent of the Company or the Trustee
may treat the person in whose name this Bond is registered as the owner hereof for the purpose of receiving payment as herein provided
and for all other purposes whether or not this Bond be overdue, and neither the Company, the Trustee nor any such agent shall be
affected by notice to the contrary.

 

    	 

    	 

    

 

 

No reference herein to the Indenture and no
provision of this Bond or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of, and interest on this Bond at the times, place and rate, and in the coin or currency, herein prescribed.

 

The following terms shall have the following
meanings:

 

“Business Day” means each Monday,
Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in the Borough of Manhattan, City and
State of New York are authorized by law to close.

 

“Comparable Treasury Issue’’
means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining
term of the Bonds being redeemed that would be utilized, at the time of selection and in accordance with customary financial practice,
in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Bonds.

 

“Comparable Treasury Price’’
means with respect to any redemption date, (A) the average of the Reference Treasury Dealer Quotations for the redemption date,
after excluding the highest and lowest Reference Treasury Dealer Quotations for that redemption date, or (B) if the Company obtains
fewer than four Reference Treasury Dealer Quotations, the average of all the Reference Treasury Dealer Quotations obtained.

 

“Independent Investment Banker’’
means one of the Reference Treasury Dealers appointed by the trustee after consultation with the Company.

 

“Reference Treasury Dealer’’
means (1) each of RBS Securities Inc. and Scotia Capital (USA) Inc.,
and their respective affiliates or successors; provided, however, that if any of them ceases to be a primary U.S. Government securities
dealer in the United States, the Company will appoint another primary U.S. Government securities dealer as a substitute, (2) one
primary U.S. Government securities dealer selected by each of KeyBanc Capital Markets Inc. and U.S. Bancorp Investments, Inc. and
(3) any other U.S. Government securities dealers selected by the Company.

 

“Reference Treasury Dealer Quotations’’
means, for each Reference Treasury Dealer and any redemption date, the average, as determined by the trustee, of the bid and ask
prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to
the Trustee by the Reference Treasury Dealer at 5:00 p.m. New York City time on the third business day preceding the redemption
date for the bonds being redeemed.

 

“Treasury Rate’’ means,
for any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for the redemption date.

 

All terms used in this Bond which are defined
in the Indenture shall have the meanings assigned to them in the Indenture.

 

    	 

    	 

    

 

 

ASSIGNMENT

 

For value received the undersigned sells,
assigns and transfers unto (name, address including zip code and taxpayer I.D. or Social Security number of assignee) _____________________________________________________________________________

___________________________________________________________
the within Certificate and does hereby irrevocably constitute and appoint ____________________________________

______________________________ attorney to transfer the
said Certificate on the books kept for

registration thereof with full power of substitution on the
premises.

 

 

 

 

Dated: _______________________

 

 

______________________________

Signature by or on behalf of AssignorEXHIBIT 10.1

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

THIS INVESTMENT MANAGEMENT TRUST AGREEMENT
(this “Agreement”) is made as of the 24th day of October, 2013, by and between Global Defense &
National Security Systems, Inc., a Delaware corporation (the “Company”), and American Stock Transfer & Trust
Company, LLC (the “Trustee”).

 

WHEREAS, the Company’s Registration
Statement on Form S-1, File No. 333-191195 (the “Registration Statement”) for its initial public offering of
securities (the “IPO”) has been declared effective as of the date hereof (the “Effective Date”)
by the Securities and Exchange Commission;

 

WHEREAS, Cowen and Company, LLC (“Cowen”),
Maxim Group LLC and I-Bankers Securities, Inc. are acting as underwriters in the IPO (collectively, the “Underwriters”);

 

WHEREAS, as described in the Registration
Statement, and in accordance with the Company’s Amended and Restated Certificate of Incorporation, (i) approximately $56,850,000
(approximately $65,580,000 if the Underwriters’ over-allotment option is exercised in full) to be received by the Company
in connection with the IPO, plus (ii) $6,450,000 ($7,215,000 if the over-allotment option is exercised in full) to be received
by the Company in connection with the sale of the Company’s common stock in a private placement (the “Private Placement”)
that will occur simultaneously with the consummation of the IPO pursuant to a subscription agreement, dated as of October 23, 2013,
by and between the Company and Global Defense & National Security Holdings LLC, a Delaware limited liability company and the
sponsor of the Company (the “Sponsor”), will be delivered to the Trustee to be deposited and held in a trust account
for the benefit of the Company and all of the Company’s stockholders (other than with respect to the 2,003,225 shares of
the Company’s common stock purchased by the Sponsor on July 19, 2013 and the 645,000 shares (721,500 shares if the over-allotment
option is exercised in full) of the Company’s common stock purchased by the Sponsor in the Private Placement). The amount
to be delivered to the Trustee will be referred to herein as the “Property,” the stockholders for whose benefit
the Trustee shall hold the Property will be referred to as the “Public Stockholders,” and the Public Stockholders
and the Company will be referred to together as the “Beneficiaries”;

 

WHEREAS, the Property is being held by the
Trustee for the benefit of the Public Stockholders in the event that the Company fails to close a Business Combination (as such
term is defined in the Amended and Restated Certificate of Incorporation of the Company);

 

WHEREAS, pursuant to the Underwriting Agreement,
dated as of October 24, 2013, by and between the Company and the Underwriters, a portion of the Property equal to $1,650,000 (or
$1,897,500 if the Underwriters’ over-allotment option is exercised in full) is attributable to the Underwriters’ fees,
which amounts the Underwriters have agreed to deposit in the Trust Account (defined below) and which will be paid from the Trust
Account to the Underwriters upon the closing of a Business Combination; and

 

WHEREAS,
the Company and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee
shall hold the Property.

 

    	 

    	 

    

 

IT IS AGREED:

 

1.           Agreements
and Covenants Of Trustee. The Trustee hereby agrees and covenants to:

 

(a)          Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in a segregated trust account (the “Trust
Account”) in the United States established by the Trustee at Wells Fargo Bank, N.A.;

 

(b)          Supervise
and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c)          In
a timely manner, upon the written instruction of the Company, invest and reinvest the Property in any United States government
treasury bills having a maturity of one hundred eighty (180) days or less or in money market funds meeting certain conditions under
Rule 2a-7 promulgated under the Investment Company Act of 1940 (the “1940 Act”) and that invest solely in U.S.
treasuries. The Trustee shall bear no responsibility for any loss or penalty which may result from any investment or sale of investment
made pursuant to the Company’s instruction. The parties acknowledge that the Trustee is not providing investment supervision,
recommendations or advice;

 

(d)          Collect
and receive, when due, all principal and income arising from the Property, which income, net of taxes and subject to Section 1(i),
shall become part of the “Property,” as such term is used herein;

 

(e)          Promptly
notify the Company and Cowen of all communications received by it with respect to the Property;

 

(f)          Promptly
supply any information or documents as may be requested by the Company in connection with the Company’s preparation of tax
returns for the Trust Account or otherwise;

 

(g)         Participate
in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed
by the Company to do so;

 

(h)         Render
to the Company, and to such other person as the Company may instruct, monthly written statements of the activities of and amounts
in the Trust Account reflecting all receipts and disbursements of the Trust Account;

 

(i)          Upon
written instructions from the Company, deliver to the Company or to such governmental entity or taxing authority as the Company
shall direct, on a quarterly basis, solely from the interest earned on the Property in the Trust Account, an amount equal to or
lesser than the taxes payable by the Company, if any, relating to any franchise and income taxes payable by the Company, to the
extent they may be paid from interest earned on the Trust Account;

 

(j)          Commence
liquidation of the Trust Account promptly after receipt of and only in accordance with the terms of a letter (the “Termination
Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, signed on behalf
of the Company by its Chief Executive Officer, and, in the case of a Termination Letter in a form substantially similar to that
attached hereto as Exhibit A, acknowledged and agreed to by Cowen, and complete the liquidation of the Trust Account and distribute
the Property in the Trust Account only as directed in the Termination Letter and the other documents referred to therein; provided,
however, that in the event that a Termination Letter has not been received by July 29, 2015, the Trust Account shall be liquidated
in accordance with the procedures set forth in the Termination Letter attached as Exhibit B to the stockholders of record on the
record date, which record date shall be fixed by the Board of Directors of the Company; provided, further, that the record
date shall be within ten (10) days of July 29, 2015, or as soon thereafter as is practicable.

 

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(k)          No
distributions from the Trust Account shall be permitted except in accordance with Sections 1(i) or 1(j) hereof.

 

2.           Agreements
and Covenants of the Company. The Company hereby agrees and covenants to:

 

(a)          Give
all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer;

 

(b)          Hold
the Trustee harmless, defend and indemnify the Trustee from and against any and all expenses, including reasonable counsel fees
and disbursements, or loss suffered by the Trustee in connection with any action, suit or other proceeding brought against the
Trustee involving any claim, or in connection with any claim or demand which in any way arises out of or relates to this Agreement,
the services of the Trustee hereunder, or the Property or any income earned from investment of the Property, except for expenses
and losses resulting from the Trustee’s gross negligence, willful misconduct or breach of this Agreement. Promptly after
the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which
the Trustee intends to seek indemnification under this paragraph, it shall notify the Company in writing of such claim (hereinafter
referred to as the “Indemnified Claim”). The Company shall conduct and manage the defense against such Indemnified
Claim, provided, that the Trustee may voluntarily participate in such action at its own cost with its own counsel;

 

(c)          Pay
the Trustee an initial acceptance fee of $8,000 (it being expressly understood that the Property shall not be used to pay such
fee). The Company shall pay the Trustee the initial acceptance fee at the consummation of the IPO. The Company shall not be responsible
for any other fees or charges of the Trustee except as may be provided in paragraph 2(b) hereof (it being expressly understood
that the Property shall not be used to make any payments to the Trustee under such paragraph). The Trustee shall refund to the
Company the fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Fund; and

 

(d)          In
connection with any vote of the Company’s stockholders regarding a Business Combination, provide to the Trustee an affidavit
or certificate of a firm regularly engaged in the business of soliciting proxies and tabulating stockholder votes verifying the
vote of the Company’s stockholders regarding such Business Combination.

 

(e)          Within
four (4) business days after the Underwriters exercise the over-allotment option (or any unexercised portion thereof) or such over-allotment
expires, provide the Trustee with a notice in writing of the total amount of the deferred Underwriters’ fees, which shall
in no event be less than $1,650,000.

 

(f)          In
addition to the specific requirements of Section 1(j), and in all cases, the Company shall provide Cowen with a copy of any Termination
Letters and/or any other correspondence that it issues to the Trustee with respect to any proposed withdrawal from the Trust Account
promptly after such issuance.

 

(g)          Instruct
the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee
to make any distributions that are not permitted under this Agreement.

 

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3.           Limitations
of Liability. The Trustee shall have no responsibility or liability to:

 

(a)          Take
any action with respect to the Property, other than as directed in paragraph 1 hereof, and the Trustee shall have no liability
to any party under this Agreement except for liability arising out of its own gross negligence, willful misconduct or breach of
contract;

 

(b)          Institute
any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of
any kind with respect to, any of the Property unless and until it shall have received written instructions from the Company given
as provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident
thereto;

 

(c)          Change
the investment of any Property, other than in compliance with paragraph 1(c);

 

(d)          Refund
any depreciation in principal of any Property invested in accordance with Section 1(c);

 

(e)          Assume
that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided
otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(f)          The
other parties hereto or anyone else for any action taken or omitted by it in compliance with this Agreement, or any action suffered
by it to be taken or omitted in compliance with this Agreement made in good faith and in the exercise of its best judgment, except
for its gross negligence or willful misconduct. The Trustee may rely conclusively and shall be protected in acting upon any order,
notice, demand, certificate, opinion or advice of counsel (including counsel chosen by the Trustee), statement, instrument, report
or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as
to the truth and acceptability of any information therein contained) which is believed by the Trustee, in good faith, to be genuine
and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver,
modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument
delivered to the Trustee signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless
it shall give its prior written consent thereto;

 

(g)          Verify
the correctness of the information set forth in the Registration Statement or to confirm or assure that any acquisition made by
the Company or any other action taken by it is as contemplated by the Registration Statement; or

 

(h)          Look
to any other agreement for the determination of its duties as Trustee.

 

4.           Termination.
This Agreement shall terminate as follows:

 

(a)          If
the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its
reasonable efforts to locate a successor trustee. At such time that the Company notifies the Trustee that a successor trustee
has been appointed by the Company and has agreed to become subject to the terms of this Agreement, the Trustee shall transfer
the management of the Trust Account to the successor trustee, including but not limited to the transfer of copies of the
reports and statements relating to the Trust Account, whereupon this Agreement shall terminate, except that the provisions of
Section 2(b) shall survive termination; provided, however, that in the event that the Company does not locate a successor
trustee within ninety (90) days of receipt of the resignation notice from the Trustee, the Trustee may, upon written notice
to the Company, submit an application to have the Property deposited with the United States District Court for the Southern
District of New York and, upon such deposit, the Trustee shall be immune from any liability whatsoever that arises due to any
actions or omissions to act by any party after such deposit; or

 

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(b)          At
such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of paragraph
1(l) hereof and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall
terminate except with respect to Paragraph 2(b).

 

5.           Trust Account Waiver.
The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”) to, or to any monies
in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have now
or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation,
under Section 2(b) or Section 2(c) hereof, the Trustee shall pursue such Claim solely against the Company and its assets outside
the Trust Account and not against the Property or any monies in the Trust Account.

 

6.           Miscellaneous.

 

(a)          The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds
transferred from the Trust Account. Upon receipt of written instructions, the Trustee will confirm such instructions with an Authorized
Individual at an Authorized Telephone Number listed on the attached Exhibit C. The Company and the Trustee will each restrict access
to confidential information relating to such security procedures to authorized persons. Each party must notify the other party
immediately if it has reason to believe unauthorized persons may have obtained access to such information and of any change in
its authorized personnel.

 

(b)          This
Agreement may be executed by facsimile and in several counterparts, which together shall constitute but one instrument.

 

(c)          This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof.
This Agreement or any provision hereof may only be changed, amended or modified by a writing signed by each of the parties
hereto; provided that such action shall not materially adversely affect the interests of the Public Stockholders. Any change,
waiver, amendment or modification to this Agreement that materially adversely affects the interests of the Public
Stockholders shall be subject to approval by each of the Public Stockholders materially adversely affected thereby. As to any
claim, cross-claim or counterclaim in any way relating to this Agreement, each party waives the right to trial by jury.

 

(d)          This
Agreement shall be governed by, and construed in accordance with, the laws of the State of New York applicable to contracts executed
in and to be performed in that State, including, without limitation, Sections 5-1401 and 5-1402 of the New York General Obligations
Law and the New York Civil Practice Laws and Rules 327(b). The parties hereto agree that any action, proceeding or claim against
it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York
or the United States District Court for the Southern District of New York, and the parties hereto irrevocably submit to such jurisdiction,
which jurisdiction shall be exclusive. The parties hereto hereby waive any objection to such exclusive jurisdiction and that such
courts represent an inconvenient forum.

 

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(e)          Any
notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing
and shall be sent by certified or registered mail, by private national courier service (return receipt requested, postage prepaid),
by personal delivery or by facsimile transmission. Such notice or communication shall be deemed given (a) if mailed, two days after
the date of mailing, (b) if sent by national courier service, one business day after being sent, (c) if delivered personally, when
so delivered, or (d) if sent by facsimile transmission, on the second business day after such facsimile is transmitted, in each
case as follows:

 

If to the Trustee, to:

 

American Stock Transfer & Trust Company, LLC

6201 15th Avenue

Brooklyn, New York 11219

Attn: John Baker

Fax: (718) 765-8792

 

If to the Company, to:

 

Global Defense & National Security Systems, Inc.

11921 Freedom Drive, Suite 550

Two Fountain Square

Reston, Virginia 20190

Attn: Dale R. Davis

Fax:

 

In either case with a copy to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

525 University Avenue, Suite 1400

Palo Alto, California 94301

Attn: Gregg A. Noel, Esq.

Fax: (650) 470-4570

and

 

Cowen and Company, LLC

599 Lexington Avenue

New York, New York 10022

Attn: Head of Equity Capital Markets

Fax: (646)562-1249

 

and

 

McDermott Will & Emery LLP

340 Madison Avenue

New York, New York 10173

Attn: Robert H. Cohen, Esq., Joel L. Rubinstein, Esq.

Fax: (212) 547-5444

 

(f)          This
Agreement may not be assigned by the Trustee without the prior written consent of the Company.

 

(g)          The
obligations and rights contained in Section 2(b) herein will survive the termination of this Agreement.

 

    	6

    	 

    

 

(h)          Each
of the Trustee and the Company hereby represents that it has the full right and power and has been duly authorized to enter into
this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it
shall not make any claims or proceed against, and waives any and all right, title, interest or claim of any kind in or to any distribution
of the Trust Account, including by way of set-off, and shall not be entitled to any funds in, and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any claim against, the Trust Account under any circumstance.

 

(i)          The
Trustee hereby consents to the inclusion of “American Stock Transfer & Trust Company, as Trustee” in the Registration
Statement and other materials relating to the IPO.

 

(j)          Each
of the Company and the Trustee hereby acknowledge that Cowen is a third party beneficiary of this Agreement. The Public Stockholders
shall also be third party beneficiaries of this Agreement.

 

(k)          Except
as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other person
or entity.

 

[Remainder of page intentionally left blank]

 

    	7

    	 

    

 

IN WITNESS WHEREOF,
the parties have duly executed this Investment Management Trust Agreement as of the date first written above.

  

	 	
        AMERICAN STOCK TRANSFER & TRUST COMPANY,

        LLC, AS TRUSTEE

	 	 
	 	By:	/s/ Paul H. Kim
	 	 	Name: Paul H. Kim
	 	 	Title: Counsel
	 	 
	 	
        GLOBAL DEFENSE & NATIONAL SECURITY SYSTEMS,

        INC.

	 	 
	 	By:	/s/ Frederic Cassis
	 	 	Name: Frederic Cassis
	 	 	Title: Secretary

 

[Trust Agreement]

 

    	 

    	 

    

 

EXHIBIT A

 

[LETTERHEAD OF THE COMPANY]

 

[DATE]

 

American Stock Transfer & Trust Company, LLC

6201 15th Avenue

Brooklyn, New York 11219

Attn: John Baker

 

Re:       Trust Account No. [ ] Termination Letter

 

Gentlemen:

 

Pursuant to paragraph 1(j) of the
Investment Management Trust Agreement between Global Defense & National Security Systems, Inc. (the “Company”)
and American Stock Transfer & Trust Company, LLC (the “Trustee”), dated as of October 23, 2013 (the “Trust
Agreement”), this is to advise you that the Company has entered into an agreement (the “Business
Agreement”) with __________________(the “Target”) to close a business combination with the Target (the “Business
Combination”) on or about [insert date]. The Company shall notify you at least forty-eight (48) hours in advance of
the actual date of the closing of the Business Combination (the “Closing Date”). Defined terms used but
not otherwise defined herein shall have the meaning ascribed to such term in the Trust Agreement.

 

Pursuant to Section 2(d) of the Trust
Agreement, we are providing you with [an affidavit] [a certificate] of _________________, which verifies the vote of the Company’s
stockholders in connection with the Business Combination. In accordance with the terms of the Trust Agreement, we hereby
authorize you to commence liquidation of the Trust Account to the effect that, on the Closing Date, all of the funds held in
the Trust Account will be immediately available for transfer to the account or accounts that the Company and Cowen and
Company, LLC shall direct in writing on the Closing Date.

 

On the Closing Date (i) counsel for the
Company (“Company Counsel”) shall deliver to you written notification that the Business Combination has been
closed and (ii) the Company shall deliver to you written instructions (the “Instruction Letter”) with respect
to the transfer of the funds held in the Trust Account, including, but not limited to, (a) funds to be delivered to any Public
Stockholder that has properly exercised its conversion rights or sold its shares to the Company (as described in the Registration
Statement), (b) the portion of the Property attributable to the deferred Underwriters’ fees in an amount equal to $1,650,000
(or $1,897,500 if the Underwriters’ over-allotment option is exercised in full) and (c) the portion of the Property to be
released to the Company in connection with the closing of the Business Combination.

 

You are hereby directed and authorized to
transfer the funds held in the Trust Account immediately upon your receipt of Company Counsel’s notification and the Instruction
Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may
not be liquidated by the Closing Date without penalty, you will notify the Company of the same and the Company shall direct you
as to whether such funds should remain in the Trust Account and be distributed after the Closing Date to the Company. With respect
to the deferred Underwriters’ fees, such funds should be distributed on the Closing Date to Cowen and Company, LLC (on behalf
of the several underwriters) promptly after receipt of the Instruction Letter. Upon the distribution of all the funds in the Trust
Account pursuant to the terms hereof, the Trust Agreement shall be terminated.

 

    	A-1

    	 

    

 

In the event that the Business Combination
is not closed on the Closing Date described in the notice thereof and we have not notified you on or before the original Closing
Date of a new Closing Date, then the funds held in the Trust Account shall be reinvested as provided in the Trust Agreement on
the business day immediately following the Closing Date as set forth in the notice.

 

	 	Very truly yours,
	 	 
	 	
        GLOBAL DEFENSE & NATIONAL SECURITY SYSTEMS,

        INC.

	 	 	 
	 	By:	 
	 	 	Name: Dale R. Davis
	 	 	Title:     Chief Executive Officer

  

	AGREED TO AND ACKNOWLEDGED BY	 
	 	 
	COWEN AND COMPANY, LLC	 
	 	 
	By: 	 	 
	 	Name:	 
	 	Title:	 

 

    	A-2

    	 

    

 

EXHIBIT B

 

[LETTERHEAD OF THE COMPANY]

 

[DATE]

 

American Stock Transfer & Trust Company, LLC

6201 15th Avenue

Brooklyn, New York 11219

Attn: John Baker

 

Re:      Trust Account No. [ ] Termination Letter

 

Gentlemen:

 

Pursuant to paragraph 1(j) of the Investment
Management Trust Agreement between Global Defense & National Security Systems, Inc. (the “Company”) and
American Stock Transfer & Trust Company, LLC (the “Trustee”), dated as of October 23, 2013 (the “Trust
Agreement”), this is to advise you that the Company is to be liquidated in accordance with the terms of the Company’s
Amended and Restated Certificate of Incorporation.

 

In accordance with the terms of the Trust
Agreement, we hereby authorize you to commence liquidation of the Trust Account. In connection with this liquidation, you are hereby
authorized to establish a record date for the purposes of determining the stockholders of record entitled to receive their per
share portion of the Trust Account. The record date shall be within ten (10) days of the liquidation date, or as soon thereafter
as is practicable. You will notify the Company in writing as to when all of the funds in the Trust Account will be available for
immediate transfer (the “Transfer Date”) in accordance with the terms of the Trust Agreement and the Amended
and Restated Certificate of Incorporation of the Company. You shall commence distribution of such funds in accordance with the
terms of the Trust Agreement and the Amended and Restated Certificate of Incorporation of the Company and you shall oversee the
distribution of the funds. Upon the payment of all the funds in the Trust Account, the Trust Agreement shall be terminated.

 

	 	Very truly yours,
	 	 
	 	
        GLOBAL DEFENSE & NATIONAL SECURITY SYSTEMS,

        INC.

	 	 	 
	 	By:	 
	 	 	Name: Dale R. Davis
	 	 	Title:    Chief Executive Officer

 

cc: Cowen and Company, LLC

 

    	B-1

    	 

    

 

EXHIBIT C

 

	AUTHORIZED INDIVIDUAL(S)	 	AUTHORIZED
	FOR TELEPHONE CALL BACK	 	TELEPHONE NUMBER(S)
	 	 	 
	COMPANY:	 	 
	 	 	 
	Global Defense & National Security Systems, Inc.	 	(202) 800-4333
	11921 Freedom Drive, Suite 550	 	 
	Two Fountain Square	 	 
	Reston, Virginia 20190	 	 
	Attn: Dale R. Davis	 	 
	Chief Executive Officer	 	 
	 	 	 
	TRUSTEE:	 	 
	 	 	 
	American Stock Transfer & Trust Company, LLC	 	(718) 921-8200
	6201 15th Avenue	 	 
	Brooklyn, New York 11219	 	 
	Attn: John Baker	 	 

 

    	C-1

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