Document:

REVOLVING LOAN
NOTE

    

    
      	
              $27,500,000

            	
              February
      22, 2010

            

    

    

    FOR VALUE RECEIVED, the undersigned,
THE KEYW HOLDING CORPORATION, a Maryland corporation, THE KEYW CORPORATION, a
Maryland corporation, INTEGRATED COMPUTER CONCEPTS, INCORPORATED, a Maryland
corporation, S&H ENTERPRISES OF CENTRAL MARYLAND, INC., a Maryland
corporation, and THE ANALYSIS GROUP, LLC, a Virginia limited liability company
(collectively, the “Borrowers”) hereby
jointly and severally promise to pay to the order of BANK OF AMERICA, N.A., a
national banking association (the “Lender”), in lawful
money of the United States of America and in immediately available funds and
without deduction, set-off or other reduction, the principal amount of TWENTY
SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($27,500,000) or such lesser amount
as shall equal the aggregate outstanding Advances made or deemed to be made by
the Lender to the Borrowers under the Revolving Credit Facility established by
the Credit Agreement referred to below, on the dates and in the principal
amounts provided in the Credit Agreement, and to pay interest on the unpaid
principal amount of each such Advance, at such office, in like money and funds,
for the period commencing on the date of advance of each such Advance until such
Revolving Credit Facility be paid in full, at the rates per annum and on the
dates provided in the Credit Agreement.

    

    This Note is the “Note” referred to in
that certain Credit and Security Agreement of even date herewith between the
Borrowers and the Lender (such Credit Agreement, as the same may be amended,
modified, supplemented, renewed, extended or restated from time to time, being
referred to herein as the “Credit Agreement”),
and evidences Advances made by the Lender thereunder.  The holder of
this Note shall be entitled to, without limitation, the benefits provided in the
Credit Agreement as set forth therein.  The Credit Agreement, among
other things, contains provisions for acceleration of the maturity of this Note
upon the happening of certain stated events and for prepayment of the Advances
prior to the maturity of this Note upon the terms and conditions specified in
the Credit Agreement.  Capitalized terms used in this Note have the
respective meanings assigned to them in the Credit Agreement.

    

    THIS NOTE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF MARYLAND (WITHOUT REGARD
TO CONFLICTS OF LAWS PRINCIPLES) AND THE APPLICABLE LAWS OF THE UNITED STATES OF
AMERICA.

    

    The Borrowers and each surety,
guarantor, endorser and other party ever liable for payment of any sums of money
payable on this Note jointly and severally waive notice, presentment, demand for
payment, protest, notice of protest and non-payment or dishonor, notice of
acceleration, notice of intent to accelerate, notice of intent to demand,
diligence in collecting, grace and all other formalities of any kind, and
consent to all extensions without notice for any period or periods of time and
partial payments, before or after maturity, and any impairment of any collateral
securing this Note, all without prejudice to the holder. The holder shall
similarly have the right to deal in any way, at any time, with one or more of
the foregoing parties without notice to any other party, and to grant any such
party any extensions of time for payment of any of said indebtedness, or to
release or substitute part or all of the collateral securing this Note, or to
grant any other indulgences or forbearances whatsoever, without notice to any
other party and without in any way affecting the personal liability of any party
hereunder.

     

    
      KEYW and
Subsidiaries

      Revolving
Loan Note

      Page 1 of
3

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    THIS
NOTE, TOGETHER WITH THE OTHER FINANCING DOCUMENTS, REPRESENTS THE FINAL
AGREEMENT OF THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE
ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

    

    [signature page
follows]

     

    
      KEYW and
Subsidiaries

      Revolving
Loan Note

      Page 2 of
3

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    IN
WITNESS WHEREOF, the Borrowers have caused this Note to be executed in its name,
under its seal and on its behalf by its duly authorized representative the day
and year first written above.

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              	 
      	 
      	
                                                      BORROWERS:

                                                    
	 
      	 
      	 
      
	
                                                      WITNESS:

                                                    	 
      	
                                                      THE
      KEYW HOLDING CORPORATION

                                                    
	 
      	 
      	 
      	 
      	 
      
	
                                                      /s/Terry
      L.
      Jasek

                                                    	 
      	
                                                      By:

                                                    	
                                                      /s/
      Leonard E.
      Moodispaw

                                                    	
                                                      (SEAL)

                                                    
	 	 
      	 Name:
      Leonard E.
      Moodispaw	 
      
	 	 
      	 Title:
      Chief Executive
      Officer	 
      
	 
      	 
      	 
      	 
      	 
      
	
                                                      WITNESS:

                                                    	 
      	
                                                      THE
      KEYW HOLDING CORPORATION

                                                    
	 
      	 
      	 
      	 
      	 
      
	
                                                      /s/Terry
      L.
      Jasek

                                                    	 
      	
                                                      By:

                                                    	
                                                      /s/
      Leonard E.
      Moodispaw

                                                    	
                                                      (SEAL)

                                                    
	 	 
      	 Name:
      Leonard E. Moodispaw	 
      
	 	 
      	 Title:
      Chief Executive Officer	 
      
	 
      	 
      	 
      	 
      	 
      
	
                                                      WITNESS:

                                                    	 
      	
                                                      INTEGRATED
      COMPUTER CONCEPTS,

                                                    
	 	 
      	

                                                      INCORPORATED

                                                    
	 
      	 
      	 
      	 
      	 
      
	
                                                      /s/Terry
      L.
      Jasek

                                                    	 
      	
                                                      By:

                                                    	
                                                      /s/
      John E.
      Krobath

                                                    	
                                                      (SEAL)

                                                    
	 	 
      	 Name:
      John E.
      Krobath	 
	 	 
      	 Title:
      Chief Financial
      Officer	 
      
	 
      	 
      	 
      	 
      	 
      
	
                                                      WITNESS:

                                                    	 
      	
                                                      S&H
      ENTERPRISES OF

                                                    
	 
      	 
      	
                                                      CENTRAL
      MARYLAND, INC.

                                                    
	 
      	 
      	 
      	 
      	 
      
	
                                                      /s/Terry
      L.
      Jasek

                                                    	 
      	
                                                      By:

                                                    	
                                                      /s/
      John E.
      Krobath

                                                    	
                                                      (SEAL)

                                                    
	 	 
      	 Name:
      John E.
      Krobath	 
      
	 	 
      	 Title:
      Chief Financial
      Officer	 
      
	 
      	 
      	 
      	 
      	 
      
	
                                                      WITNESS:

                                                    	 
      	
                                                      THE
      ANALYSIS GROUP, LLC

                                                    
	 
      	 
      	 
      	 
      	 
      
	
                                                      /s/Terry
      L.
      Jasek

                                                    	 
      	
                                                      By:

                                                    	
                                                      /s/
      John E.
      Krobath

                                                    	
                                                      (SEAL)

                                                    
	 	 
      	 Name:
      John E.
      Krobath	 
      
	 	 
      	 Title:
      Chief Financial
      Officer	 
      

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      KEYW and
Subsidiaries

      Revolving
Loan Note

      Page 3 of
3TERM LOAN
NOTE

     

    
      
        
          	
                  $5,000,000

                	
                  February
      22, 2010

                

        

      

    

    

    FOR VALUE
RECEIVED, the undersigned, THE KEYW CORPORATION, a Maryland corporation, THE
KEYW HOLDING CORPORATION, a Maryland corporation, INTEGRATED COMPUTER CONCEPTS,
INCORPORATED, a Maryland corporation, S&H ENTERPRISES OF CENTRAL MARYLAND,
INC., a Maryland corporation, and THE ANALYSIS GROUP, LLC, a Virginia limited
liability company (collectively, the “Borrowers”) hereby
jointly and severally promise to pay to the order of BANK OF AMERICA, N.A., a
national banking association (the "Lender"), in lawful
money of the United States of America and in immediately available funds and
without deduction, set-off or other reduction, the principal amount of FIVE
MILLION DOLLARS ($5,000,000.00) on the dates and in the principal amounts
provided in the Credit Agreement, and to pay interest on the unpaid principal
amount of such Term Loan, in like money and funds, for the period commencing on
the date hereof until such Term Loan shall be paid in full, at the rates per
annum and in accordance with the terms and conditions of the Credit
Agreement.

    

    This Note
is the “Term Note” referred to in that certain Credit and Security Agreement of
even date herewith between the Borrowers and the Lender (such Credit Agreement,
as the same may be amended, modified, supplemented, renewed, extended or
restated from time to time, being referred to herein as the "Credit Agreement"),
and evidences the Term Loan made or deemed to be made by the Lender
thereunder.  The holder of this Note shall be entitled to, without
limitation, the benefits provided in the Credit Agreement as set forth
therein.  The Credit Agreement, among other things, contains
provisions for acceleration of the maturity of this Note upon the happening of
certain stated events and for prepayment of the Term Loan prior to the maturity
of this Note upon the terms and conditions specified in the Credit
Agreement.  Capitalized terms used in this Note have the respective
meanings assigned to them in the Credit Agreement.

    

    THIS NOTE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF MARYLAND (WITHOUT REGARD
TO CONFLICTS OF LAWS PRINCIPLES) AND THE APPLICABLE LAWS OF THE UNITED STATES OF
AMERICA.

    

    The Borrowers and each surety,
guarantor, endorser and other party ever liable for payment of any sums of money
payable on this Note jointly and severally waive notice, presentment, demand for
payment, protest, notice of protest and non-payment or dishonor, notice of
acceleration, notice of intent to accelerate, notice of intent to demand,
diligence in collecting, grace and all other formalities of any kind, and
consent to all extensions without notice for any period or periods of time and
partial payments, before or after maturity, and any impairment of any collateral
securing this Note, all without prejudice to the holder.  The holder
shall similarly have the right to deal in any way, at any time, with one or more
of the foregoing parties without notice to any other party, and to grant any
such party any extensions of time for payment of any of said indebtedness, or to
release or substitute part or all of the collateral securing this Note, or to
grant any other indulgences or forbearances whatsoever, without notice to any
other party and without in any way affecting the personal liability of any party
hereunder.

     

    
      KEYW and
Subsidiaries

      Term Loan
Note

      Page 1 of 
3

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    THIS NOTE, TOGETHER WITH THE OTHER
FINANCING DOCUMENTS, REPRESENTS THE FINAL AGREEMENT OF THE PARTIES AND MAY NOT
BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS
AMONG THE PARTIES.

    

    [signature page
follows]

    KEYW and
Subsidiaries

    Term Loan
Note

    Page 2 of
3

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, each Borrower has caused this Note to be executed in its name,
under its seal and on its behalf by its duly authorized representative the day
and year first written above.

    

    
      
        
          
            
              
                
                  
                    	 
      	 
      	
                            BORROWERS:

                          
	 
      	 
      	 
      
	
                            WITNESS:

                          	 
      	
                            THE
      KEYW CORPORATION

                          
	 
      	 
      	 
      
	
                            /s/Terry L. Jasek

                          	 
      	
                            By:

                          	
                            /s/ Leonard E. Moodispaw

                          	
                            (SEAL)

                          
	 
      	 
      	
                             Name:
      Leonard E. Moodispaw

                          
	 
      	 
      	
                             Title:
      Chief Executive Officer

                          
	 
      	 
      	 
      
	
                            WITNESS:

                          	 
      	
                            THE
      KEYW HOLDING CORPORATION

                          
	 
      	 
      	 
      
	
                            /s/Terry L. Jasek

                          	 
      	
                            By:

                          	
                            /s/ Leonard E. Moodispaw

                          	
                            (SEAL)

                          
	 
      	 
      	
                             Name:
      Leonard E. Moodispaw

                          
	 
      	 
      	
                             Title:
      Chief Executive Officer

                          
	 
      	 
      	 
      
	
                            WITNESS:

                          	 
      	
                            INTEGRATED
      COMPUTER CONCEPTS,

                            INCORPORATED

                          
	 
      	 
      	 
      
	
                            /s/Terry L. Jasek

                          	 
      	
                            By:

                          	
                            /s/ John E. Krobath

                          	
                            (SEAL)

                          
	 
      	 
      	
                             Name:
      John E. Krobath

                          
	 
      	 
      	
                             Title:
      Chief Financial Officer

                          
	 
      	 
      	 
      
	
                            WITNESS:

                          	 
      	
                            S&H
      ENTERPRISES OF

                            CENTRAL
      MARYLAND, INC.

                          
	 
      	 
      	 
      
	
                            /s/Terry L. Jasek

                          	 
      	
                            By:

                          	
                            /s/ John E. Krobath

                          	
                            (SEAL)

                          
	 
      	 
      	
                             Name:
      John E. Krobath

                          
	 
      	 
      	
                             Title:
      Chief Financial Officer

                          
	 
      	 
      	 
      
	
                            WITNESS:

                          	 
      	
                            THE
      ANALYSIS GROUP, LLC

                          
	 
      	 
      	 
      
	
                            /s/Terry L. Jasek

                          	 
      	
                            By:

                          	
                            /s/ John E. Krobath

                          	
                            (SEAL)

                          
	 
      	 
      	
                             Name:
      John E. Krobath

                          
	 
      	 
      	
                             Title:
      Chief Financial
Officer

                          

                  

                

              

            

          

        

      

    

    

    KEYW and
Subsidiaries

    Term Loan
Note

    Page 3 of 
3

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