Document:

THE
KEYW CORPORATION

    RESTRICTED
STOCK AGREEMENT

     

    The KEYW
Corporation, a Maryland corporation (the “Company”), hereby issues shares of its
common stock (the “Stock”), to the Grantee named below, which Stock is subject
to the vesting conditions set forth in the attachment.  Additional
terms and conditions of the grant are set forth in this cover sheet and in the
attachment (collectively, the “Agreement”).

     

    Issuance
Date: _____________

     

    Name of
Grantee: ____________

     

    Grantee's
Identification Number:  ______________

     

    Number of
Shares of Stock Issued:  __________

     

    Purchase
Price per Share of Stock:

     

    Vesting
Schedule:

     

    By
signing this cover sheet, you agree to all of the terms and conditions described
in this Agreement.

    

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                Grantee:

                              	 
        	 
        
	 
      	
                                (Signature)

                              
	 	 
	
                                Company: 

                              	 
        	 
        
	 
      	
                                (Signature)

                              
	 	 	 
	 
      	
                                Title:

                              	 
       

                      

                    

                  

                

              

            

          

        

      

    

     

    Attachment

     

    This is not a stock certificate or a
negotiable instrument.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    THE
KEYW CORPORATION

    RESTRICTED
STOCK AGREEMENT

     

    
      
        
          	
                  Restricted
      Stock/ Nontransferability

                	 
      	
                  The
      Stock, in the number of shares set forth on the cover sheet, at the
      purchase price set forth on the cover sheet, is subject to the vesting
      conditions described below ("Restricted Stock").  To the extent
      not yet vested, your Restricted Stock may not be transferred, assigned,
      pledged or hypothecated, whether by operation of law or otherwise, nor may
      the Restricted Stock be made subject to execution, attachment or similar
      process.

                
	 
      	 
      	 
      
	
                  Vesting

                	 
      	
                  The
      Company will issue your Restricted Stock in your name as of the Issuance
      Date.

                
	 
      	 
      	 
      
	 
      	 
      	
                  Your
      right to the Stock under this Restricted Stock Agreement vests as to one
      hundred (100) percent of the total number of shares of Stock covered by
      this Agreement, as shown on the cover sheet provided you then continue in
      Service.

                
	 
      	 
      	 
      
	 
      	 
      	
                  No
      additional shares of Stock will vest after your Service has terminated for
      any reason (other than for any conditions stated in any employment
      agreement), provided, however, that if your Service is
      terminated on account of your death or Disability, any unvested shares of
      Stock will become fully vested.

                
	 
      	 
      	 
      
	 
      	 
      	
                  Upon
      the occurrence of a Change of Control either of the following two actions
      shall be taken:

                
	 
      	 
      	 
      
	 
      	 
      	
                             (A)
      fifteen days prior to the scheduled consummation of a Change of Control,
      all shares of Restricted Stock shall become immediately vested and all
      Options outstanding hereunder shall become immediately exercisable and
      shall remain exercisable for a period of fifteen days,
  or

                
	 
      	 
      	 
      
	 
      	 
      	
                             (B)
      the Board may elect, in its sole discretion, to cancel any outstanding
      Awards and pay or deliver, or cause to be paid or delivered, to the holder
      thereof an amount in cash or securities having a value (as determined by
      the Board acting in good faith) equal to the product of the number of
      shares of Stock subject to the Award (the “Grant Shares”) multiplied by
      the amount, if any, by which (I) the formula or fixed price per share paid
      to holders of shares of Stock pursuant to such transaction exceeds (II)
      the Option Price applicable to such Grant Shares. 

                
	 
      	 
      	 
      
	
                  Forfeiture
      of Unvested Stock

                   

                	 
      	
                  Except
      as provided in this Agreement, and/or any applicable Employment Agreement,
      in the event that your Service terminates for any reason, you will forfeit
      to the Company all of the shares of Stock subject to this Agreement that
      have not yet vested.

                

        

      

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  Issuance

                	 
      	
                  The
      issuance of the Stock under this Agreement shall be evidenced in such a
      manner as the Company, in its discretion, will deem appropriate,
      including, without limitation, book-entry, registration or issuance of one
      or more Stock certificates, with any unvested Restricted Stock bearing the
      appropriate restrictions imposed by this Agreement.  As your
      interest in the Stock vests as described above, the recordation of the
      number of shares of Restricted Stock attributable to you will be
      appropriately modified.

                
	 
      	 
      	 
      
	
                  Withholding
      Taxes

                	 
      	
                  You
      agree, as a condition of this issuance, that you will make acceptable
      arrangements, as determined by the Company in its sole discretion, to pay
      any withholding or other taxes that may be due as a result of the payment
      of dividends or the vesting of Stock acquired under this
      Agreement.  In the event that the Company determines that any
      federal, state, local or foreign tax or withholding payment is required
      relating to the payment of dividends or the vesting of shares arising from
      this issuance, the Company shall have the right to require such payments
      from you, or withhold such amounts from other payments due to you from the
      Company or any Affiliate (including by repurchasing vested shares of Stock
      under this Agreement).

                
	 
      	 
      	 
      
	
                  Section
      83(b)

                  Election

                	 
      	
                  Under
      Section 83 of the Internal Revenue Code of 1986, as amended (the "Code"),
      the difference between the purchase price paid for the shares of Stock and
      their fair market value on the date any forfeiture restrictions applicable
      to such shares lapse will be reportable as ordinary income at that
      time.  For this purpose, "forfeiture restrictions" include the
      forfeiture as to unvested Stock described above.  You may elect
      to be taxed at the time the shares are acquired, rather than when such
      shares cease to be subject to such forfeiture restrictions, by filing an
      election under Section 83(b) of the Code with the Internal Revenue Service
      within thirty (30) days after the Issuance Date.  You will have
      to make a tax payment to the extent the purchase price is less than the
      fair market value of the shares on the Issuance Date.  No tax
      payment will have to be made to the extent the purchase price is at least
      equal to the fair market value of the shares on the Issuance
      Date.  The form for making this election is attached as Exhibit A
      hereto.  Failure to make this filing within the thirty (30) day
      period will result in the recognition of ordinary income by you (in the
      event the fair market value of the shares as of the vesting date exceeds
      the purchase price) as the forfeiture restrictions lapse.

                    
      

                  YOU
      ACKNOWLEDGE THAT IT IS YOUR SOLE RESPONSIBILITY, AND NOT THE COMPANY'S, TO
      FILE A TIMELY ELECTION UNDER SECTION 83(b), EVEN IF YOU REQUEST THE
      COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON YOUR
      BEHALF.  YOU ARE RELYING SOLELY ON YOUR OWN ADVISORS WITH
      RESPECT TO THE DECISION AS TO WHETHER OR NOT TO FILE ANY 83(b)
      ELECTION.

                

        

      

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    
      
        	
                Market
      Stand-off Agreement

              	 
      	
                In
      connection with any underwritten public offering by the Company of its
      equity securities pursuant to an effective registration statement filed
      under the Securities Act of 1933 (the "Securities Act"), including the
      Company’s initial public offering, you agree not to sell, make any short
      sale of, loan, hypothecate, pledge, grant any option for the purchase of,
      or otherwise dispose or transfer for value or agree to engage in any of
      the foregoing transactions with respect to any shares of vested Stock
      without the prior written consent of the Company or its underwriters, for
      such period of time after the effective date of such registration
      statement as may be requested by the Company or the underwriters (not to
      exceed 180 days in length).

              
	 
      	 
      	 
      
	
                Investment
      Representation

              	 
      	
                You
      hereby agree and represent, as a condition of this issuance of Restricted
      Stock, that (i) you are acquiring the shares of Restricted Stock for
      investment for your own account and not with a view to, or intention of,
      or otherwise for resale in connection with, any distribution to any person
      or entity, (ii) neither the offer nor sale of the shares of
      Restricted Stock hereunder, or the shares of Restricted Stock themselves,
      have been registered under the Securities Act or registered or qualified
      under any applicable state securities laws and that the shares of
      Restricted Stock are being offered and sold to you by reason of and in
      reliance upon a specific exemption from the registration provisions of the
      Securities Act and exemptions from registration or qualification
      provisions of such applicable state or other jurisdiction's securities
      laws which depend upon, among other things, the bona fide nature of the
      investment intent as expressed herein and the truth and accuracy of your
      representations, warranties, agreements, acknowledgments and
      understandings as set forth herein, (iii) no public market now exists for
      any of the securities issued by the Company and that there can be no
      assurance that a public market will ever exist for the shares of
      Restricted Stock, (iv) you must, and are able to, bear the economic risk
      of your investment in the shares of Restricted Stock for an indefinite
      period of time and can afford a complete loss of your investment in the
      shares of Restricted Stock, (v) you are sophisticated in financial matters
      and have such knowledge and experience in financial and business matters
      as to be capable of evaluating the risks and benefits of your investment
      in the shares of Restricted Stock, (vi) your principal place of residence
      is in the State of Maryland, (vii) you are as of the date hereof an
      "accredited investor" as such term is defined under Rule 501 of the
      Securities Act, and (viii) the Company has made available to you all
      documents that you have requested relating to the Company, the shares of
      Restricted Stock and your purchase of the shares of Restricted Stock, and
      you have had an opportunity to ask questions and receive answers
      concerning the Company and the terms and conditions of the offering and
      sale of the shares of Restricted Stock pursuant to this Restricted Stock
      Agreement and have had full access to such other information concerning
      the Company and the shares of Restricted Stock as you deemed necessary or
      desirable.

              

      

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    
      	
              The
      Company's Right of First Refusal

            	 
      	
              In
      the event that you propose to sell, pledge or otherwise transfer to a
      third party any vested Stock acquired under this Agreement, or any
      interest in such Stock, such transfer shall be subject to the terms of any
      Stockholders’ Agreement then in effect to which you and the Company are
      parties.  If no such Stockholders’ Agreement is in effect at the
      time of the proposed transfer, the Company shall have the “Right of First
      Refusal” with respect to all (and not less than all) of such shares of
      Stock.  If you desire to transfer vested Stock acquired under
      this Agreement, you must give a written “Transfer Notice” to the Company
      describing fully the proposed transfer, including the number of shares
      proposed to be transferred, the proposed transfer price and the name and
      address of the proposed transferee.

            
	 
      	 
      	 
      
	 
      	 
      	
              The
      Transfer Notice shall be signed both by you and by the proposed new
      transferee and must constitute a binding commitment of both parties to the
      transfer of the shares.  The Company shall have the right to
      purchase all, and not less than all, of the shares of Stock on the terms
      of the proposal described in the Transfer Notice (subject, however, to any
      change in such terms permitted in the next paragraph) by delivery of a
      notice of exercise of the Right of First Refusal within thirty (30) days
      after the date when the Transfer Notice was received by the
      Company.

            
	 
      	 
      	 
      
	 
      	 
      	
              If
      the Company fails to exercise its Right of First Refusal within thirty
      (30) days after the date when it received the Transfer Notice, you may,
      not later than ninety (90) days following receipt of the Transfer Notice
      by the Company, conclude a transfer of the Stock subject to the Transfer
      Notice on the terms and conditions described in the Transfer
      Notice.  Any proposed transfer on terms and conditions different
      from those described in the Transfer Notice, as well as any subsequent
      proposed transfer by you, shall again be subject to the Right of First
      Refusal and shall require compliance with the procedure described in the
      paragraph above.  If the Company exercises its Right of First
      Refusal, the parties shall consummate the sale of the Stock on the terms
      set forth in the Transfer Notice within sixty (60) days after the date
      when the Company received the Transfer Notice (or within such longer
      period as may have been specified in the Transfer Notice); provided,
      however, that in the event the Transfer Notice provided that payment for
      the Stock was to be made in a form other than lawful money paid at the
      time of transfer, the Company shall have the option of paying for the
      Stock with lawful money equal to the present value of the consideration
      described in the Transfer Notice.

            

    

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    

    
      	 
      	 
      	
              In
      the case of any purchase of Stock under this Right of First Refusal, at
      the option of the Company, the Company may pay you the purchase price in
      three or fewer annual installments.  Interest shall be credited
      on the installments at the applicable federal rate (as determined for
      purposes of Section 1274 of the Code) in effect on the date on which
      the purchase is made.  The Company shall pay at least one-third
      of the total purchase price each year, plus interest on the unpaid
      balance, with the first payment being made on or before the 60th
      day after the purchase.

            
	 
      	 
      	 
      
	 
      	 
      	
              The
      Company’s rights under this subsection shall be freely assignable, in
      whole or in part, shall inure to the benefit of its successors and assigns
      and shall be binding upon any transferee of the shares of
      Stock.

            
	 
      	 
      	 
      
	 
      	 
      	
              The
      Company’s Right of First Refusal shall terminate if the Stock is listed on
      an established national or regional stock exchange or is publicly traded
      in an established securities market.

            
	 
      	 
      	 
      
	
              Repurchase
      Option for Vested Stock

            	 
      	
              In
      the event that your Service terminates for any reason, the Company shall
      have the option to purchase all of those shares of vested Stock that you
      have.  The Company will notify you of its intention to purchase
      such shares, and will consummate the purchase within one year (or ninety
      (90) days to the extent required by applicable law) of your termination of
      Service. If the Company exercises its option to purchase such shares, the
      purchase price shall be the Fair Market Value of those shares on the date
      the Company gives you notice of its intent to exercise its repurchase
      option (or in the event the Company repurchases your Stock within ninety
      (90) days of your termination of Service, the purchase price shall be the
      Fair Market Value of those shares on the date of your termination of
      Service).  The Company's option to repurchase vested Stock shall
      terminate in the event that the Stock is listed on an established national
      or regional stock exchange or is publicly traded in an established
      securities market.

            
	 
      	 
      	 
      
	
              Retention
      Rights

            	 
      	
              This
      Agreement does not give you the right to be retained or employed by the
      Company (or any of its Affiliates) in any capacity.  The Company
      (and any Affiliates) reserves the right to terminate your Service at any
      time and for any reason.

            
	 
      	 
      	 
      
	
              Shareholder
      Rights

            	 
      	
              You
      have the right to vote the Restricted Stock and to receive any dividends
      declared or paid on such stock.  Any distributions you receive
      as a result of any stock split, stock dividend, combination of shares or
      other similar transaction shall be deemed to be a part of the Restricted
      Stock and subject to the same conditions and restrictions applicable
      thereto.  The
      Company may in its sole discretion require any dividends paid on the
      Restricted Stock to be reinvested in shares of Stock, which the Company
      may in its sole discretion deem to be a part of the shares of Restricted
      Stock and subject to the same conditions and restrictions applicable
      thereto.

            

    

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    
      	
              Forfeiture
      of Rights

            	 
      	
              If
      you should take actions in competition with the Company, the Company shall
      have the right to cause a forfeiture of your unvested Restricted Stock,
      and with respect to those shares of Restricted Stock vesting during the
      period commencing twelve (12) months prior to your termination of Service
      with the Company due to taking actions in competition with the Company,
      the right to cause a forfeiture of those vested shares of
      Stock.

            
	 
      	 
      	 
      
	 
      	 
      	
              Unless
      otherwise specified in an employment or other agreement between the
      Company and you, you take actions in competition with the Company if you
      directly or indirectly, own, manage, operate, join or control, or
      participate in the ownership, management, operation or control of, or are
      a proprietor, director, officer, stockholder, member, partner or an
      employee or agent of, or a consultant to any business, firm, corporation,
      partnership or other entity which competes with any business in which the
      Company or any of its Affiliates is engaged during your employment or
      other relationship with the Company or its Affiliates or at the time of
      your termination of Service.

            
	 
      	 
      	 
      
	
              Adjustments

            	 
      	
              If
      the number of outstanding shares of Stock of the Company is increased or
      decreased or the shares of Stock are changed into or exchanged for a
      different number or kind of shares or other securities of the Company on
      account of any recapitalization, reclassification, stock split, reverse
      split, combination of shares, exchange of shares, stock dividend or other
      distribution payable in capital stock, or other increase or decrease in
      such shares effected without receipt of consideration by the Company
      occurring after the Issuance Date, the number and kind of shares subject
      to this Agreement shall be adjusted proportionately and
      accordingly.

            
	 
      	 
      	 
      
	 
      	 
      	
              Your
      Restricted Stock shall be subject to the terms of the agreement of merger,
      liquidation or reorganization in the event the Company is subject to such
      corporate activity.

            
	 
      	 
      	 
      
	
              Legends

            	 
      	
              All
      certificates representing the Stock issued in connection with this
      Agreement shall, where applicable, have endorsed thereon the following
      legends:

               

              “THE
      SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS
      ON TRANSFER AND OPTIONS TO PURCHASE SUCH SHARES SET FORTH IN AN AGREEMENT
      BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR HIS OR HER PREDECESSOR
      IN INTEREST. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE
      OF THE COMPANY AND WILL BE FURNISHED UPON WRITTEN REQUEST TO THE SECRETARY
      OF THE COMPANY BY THE HOLDER OF RECORD OF THE SHARES REPRESENTED BY THIS
      CERTIFICATE.”

            

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    
      	 
      	 
      	
              “THE
      SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED, OR ANY SECURITIES LAWS OF ANY STATE OR
      OTHER JURISDICTION, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED
      WITHOUT AN EFFECTIVE REGISTRATION OR QUALIFICATION THEREOF UNDER SUCH ACT
      AND SUCH APPLICABLE STATE OR OTHER JURISDICTION'S SECURITIES LAWS OR AN
      OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH
      REGISTRATION AND QUALIFICATION IS NOT REQUIRED.”

            
	 
      	 
      	 
      
	
              Applicable
      Law

            	 
      	
              This
      Agreement will be interpreted and enforced under the laws of the State of
      Maryland, other than any conflicts or choice of law rule or principle that
      might otherwise refer construction or interpretation of this Agreement to
      the substantive law of another jurisdiction.

            
	 
      	 
      	 
      
	
              The
      Agreement

               

            	 
      	
              This
      Agreement constitutes the entire understanding between you and the Company
      regarding this issuance of Restricted Stock.  Any prior
      agreements, commitments or negotiations concerning this Agreement are
      superseded.

            
	 
      	 
      	 
      
	
              Other
      Agreements

               

            	 
      	
              You
      agree, as a condition of this issuance of Restricted Stock, that you will
      execute such document(s) as necessary to become a party to any shareholder
      agreement or voting trust as the Company may require.

            
	 
      	 
      	 
      
	
              Data
      Privacy

            	 
      	
              In
      order to administer this Agreement, the Company may process personal data
      about you.  Such data includes but is not limited to the
      information provided in this Agreement and any changes thereto, other
      appropriate personal and financial data about you such as home address and
      business addresses and other contact information, payroll information and
      any other information that might be deemed appropriate by the Company to
      facilitate the administration of this Agreement.

                 
      

              By
      accepting this Agreement, you give explicit consent to the Company to
      process any such personal data.  You also give explicit consent
      to the Company to transfer any such personal data outside the country in
      which you work or are employed, including, if applicable, to the United
      States, to transferees who shall include the Company and other persons who
      are designated by the Company to administer this
  Agreement.

            
	 
      	 
      	 
      
	
              Consent
      to Electronic Delivery

            	 
      	
              The
      Company may choose to deliver certain statutory materials relating to this
      Agreement in electronic form.  By accepting this issuance you
      agree that the Company may deliver the Company’s annual report (to the
      extent required) to you in an electronic format.  If at any time
      you would prefer to receive paper copies of these documents, as you are
      entitled to, the Company would be pleased to provide
      copies.  Please contact Kim DeChello to request paper copies of
      the document.

            

    

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

    
      
        	      
                Definitions

              	
                  

              	
                “Affiliate”
      means, with respect to a Person, any company or other trade or business
      that controls, is controlled by or is under common control with such
      Person within the meaning of Rule 405 of Regulation C under the Securities
      Act, including, without limitation, any Subsidiary, provided that an
      entity may not be considered an Affiliate if it results in noncompliance
      with Code Section 409A.

                  
      

                “Board”
      means the Board of Directors of the Company.

                  

                “Disability”
      means you are unable to perform each of the essential duties of your
      position by reason of a medically determinable physical or mental
      impairment which is potentially permanent in character or which can be
      expected to last for a continuous period of not less than twelve (12)
      months

                  
      

                “Fair
      Market Value” means the value of a share of Stock, determined as
      follows:  if on the determination date the Stock is listed on an
      established national or regional stock exchange, or is publicly traded on
      an established securities market, the Fair Market Value of a share of
      Stock shall be the closing price of the Stock on such exchange or in such
      market (if there is more than one such exchange or market the Board shall
      determine the appropriate exchange or market) on the determination date
      (or if there is no such reported closing price, the Fair Market Value
      shall be the mean between the highest bid and lowest asked prices or
      between the high and low sale prices on such trading day) or, if no sale
      of Stock is reported for such trading day, on the next preceding day on
      which any sale shall have been reported.  If the Stock is not
      listed on such an exchange, quoted on such system or traded on such a
      market, Fair Market Value shall be the value of the Stock as determined by
      the Board in good faith in a manner consistent with Code Section
      409A.

                  
      

                “Person”
      means a natural person, partnership, corporation, limited liability
      company, business trust, joint stock company, trust, unincorporated
      association, joint venture or other entity or organization.

                  

                “Service”
      means service as an employee, officer, director or other Service Provider
      of the Company or an Affiliate thereof.  Unless otherwise stated
      in the applicable Award Agreement, a Grantee’s change in position or
      duties shall not result in interrupted or terminated Service, so long as
      such Grantee continues to be an employee, officer, director or other
      Service Provider of the Company or an Affiliate
      thereof.  Subject to the preceding sentence, whether a
      termination of Service shall have occurred shall be determined by the
      Board, which determination shall be final, binding and
      conclusive.

              

      

    

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    
      	 
      	 
      	
              “Service
      Provider” means an employee, officer or director of the Company or an
      Affiliate thereof, or a consultant or adviser currently providing services
      to the Company or an Affiliate
thereof.

            

    

     

    By signing the cover sheet of this
Agreement, you agree to all of the terms and conditions
described above.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    EXHIBIT
A

     

    ELECTION
UNDER SECTION 83(b) OF

    THE
INTERNAL REVENUE CODE

     

    The
undersigned hereby makes an election pursuant to Section 83(b) of the Internal
Revenue Code with respect to the property described below and supplies the
following information in accordance with the regulations promulgated
thereunder:

     

    1.           The
name, address and social security number of the undersigned:

     

    
      
        
          	
                  Name:

                	 
        
	
                  Address: 

                	 
        

        

      

    

    

    
      
        
          
            	 
        
	
                    Social Security No.
      :

                  	 
        

          

        

      

    

     

    2.           Description
of property with respect to which the election is being made:

     

    _____________ shares
of common stock, par value $.001 per share, of The KEYW Corporation, a Maryland
corporation, (the “Company”).

     

    3.           The
date on which the property was transferred is ____________ __,
200_.

     

    4.           The
taxable year to which this election relates is calendar year 200_.

     

    5.           Nature
of restrictions to which the property is subject:

     

    The
shares of stock are subject to the provisions of a Restricted Stock Agreement
between the undersigned and the Company.  The shares of stock are
subject to forfeiture under the terms of the Agreement.

     

    6.           The
fair market value of the property at the time of transfer (determined without
regard to any lapse restriction) was $__________ per share, for a total of
$__________.

     

    7.           The
amount paid by taxpayer for the property was $__________.

     

    8.           A
copy of this statement has been furnished to the Company.

     

    Dated:  _____________,
200_

     

    
      
        
          
            
              
                	 
      	 
        	 
      
	 
      	
                        Taxpayer’s
      Signature

                      	 
      
	 
      	 
        	 
      
	 
      	
                        Taxpayer’s
      Printed Name

                      	 
      

              

            

          

        

      

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    PROCEDURES
FOR MAKING ELECTION

    UNDER INTERNAL REVENUE CODE SECTION 83(b)

    

    The following procedures must be followed with respect
to the attached form for making an election under Internal Revenue Code section
83(b) in order for the election to be effective:1

    

    1.        You
must file one copy of the completed election form with the IRS Service Center
where you file your federal income tax returns within 30 days after the
Issuance Date of your Restricted Stock.

    

    2.        At
the same time you file the election form with the IRS, you must also give a copy
of the election form to the Secretary of the Company.

    

    3.           You
must file another copy of the election form with your federal income tax return
(generally, Form 1040) for the taxable year in which the stock is transferred to
you.

    
       

      
        

    

    
      1           Whether
or not to make the election is your decision and may create tax consequences for
you.  You are advised to consult your tax advisor if you are unsure
whether or not to make the election.

    

    
      
         

      

      
        121.

            	
              Plan
      Name:  KEYW Long-Term Incentive Plan (“the
      Plan”).

            

    

     

    
      	
               
      

            	
              2.

            	
              Effective Date and
      Plan Duration:  The Plan will be effective as of January
      1, 2010 (“Effective Date”) and shall terminate on the tenth (10th)
      anniversary of the Effective Date.

            

    

     

    
      	
               
      

            	
              3.

            	
              Plan
      Objectives:  The Plan has been designed
    to:

            

    

     

    
      	
               
      

            	
              §

            	
              Retain
      and motivate key contributors to KEYW’s profitability and
      growth.

            

    

     

    
      	
               
      

            	
              §

            	
              Align
      employee and shareholder interests.

            

    

     

    
      	
               
      

            	
              §

            	
              Share
      appreciation of KEYW’s common stock with key
  contributors.

            

    

     

    
      	
               
      

            	
              §

            	
              Facilitate
      stock ownership.

            

    

     

    
      	
               
      

            	
              4.

            	
              Eligibility:  Individuals
      eligible to participate in this Plan include all employees and nonemployee
      Directors.

            

    

     

    
      	
               
      

            	
              5.

            	
              Participation:  The
      President and Chief Executive Officer will retain discretion to select
      individuals to participate in the Plan but subject to Compensation
      Committee approval for certain covered
  executives.

            

    

     

    
      	
               
      

            	
              6.

            	
              Award
      Types:  The Plan permits the grant of equity and
      non-equity based awards including but not limited to Nonqualified Stock
      Options, Incentive Stock Options, Stock Appreciation Rights, Restricted
      Stock, Restricted Stock Units, Performance Shares, Performance Units,
      Cash-Based Awards, and Other Stock-Based
Awards.

            

    

     

    
      	
               
      

            	
              7.

            	
              Long-Term Incentive
      Mix:  Participants can receive a combination of Award
      Types.  The exact proportions can vary over time or across
      positions depending on the Company’s compensation philosophy, talent
      needs, and business goals.   The table below illustrates
      the proposed stock grant combination consisting of stock options and
      restricted stock units (RSUs):

            

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    	 
      	 	 
      	 	
                                            Proportion of Opportunity Delivered in:

                                          	 
	
                                            Employee Tier 

                                          	 	
                                            Position

                                          	 	
                                            Stock Options

                                          	 	 	
                                            Restricted Stock Units (RSUs)

                                          	 
	
                                            Tier
      1

                                          	 	
                                            President
      and Chief Executive Officer

                                          	 	 	80	%	 	 	20	%
	
                                            Tier
      2

                                          	 	
                                            Chief
      Financial Officer

                                          	 	 	70	%	 	 	30	%
	 
      	 	
                                            Chief
      Impact Officer

                                          	 	 	70	%	 	 	30	%
	 
      	 	
                                            Chief
      Development Officer

                                          	 	 	70	%	 	 	30	%
	 
      	 	
                                            Chief
      Strategy Officer

                                          	 	 	70	%	 	 	30	%
	 
      	 	
                                            Division
      Vice President

                                          	 	 	70	%	 	 	30	%
	 
      	 	
                                            Chief
      Administrative Officer & Corporate Secretary

                                          	 	 	70	%	 	 	30	%
	 
      	 	
                                            Chief
      Compliance Officer

                                          	 	 	70	%	 	 	30	%
	 
      	 	
                                            General
      Counsel

                                          	 	 	70	%	 	 	30	%
	
                                            Tier
      3

                                          	 	
                                            Program
      Vice Presidents

                                          	 	 	60	%	 	 	40	%

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
          
            	 
      
	
                    Key
      Plan Terms and Provisions

                  	
                    Page
      1

                  

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      

    

     

    
      	
               
      

            	
              8.

            	
              Target
      Opportunity:  A set of grant opportunities have been
      developed based on competitive and internal equity
      considerations.  Fractional shares are not
      permitted.

            

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	 
      	 	 
      	 	
                                    Target Opportunity

                                  	 
	
                                    Employee Tier

                                  	 	
                                    Position

                                  	 	
                                    (As a Percent of Salary)

                                  	 
	
                                    Tier
      1

                                  	 	
                                    President
      and Chief Executive Officer

                                  	 	 	125	%
	
                                    Tier
      2

                                  	 	
                                    Chief
      Financial Officer

                                  	 	 	75	%
	 
      	 	
                                    Chief
      Impact Officer

                                  	 	 	75	%
	 
      	 	
                                    Chief
      Development Officer

                                  	 	 	75	%
	 
      	 	
                                    Chief
      Strategy Officer

                                  	 	 	75	%
	 
      	 	
                                    Division
      Vice President

                                  	 	 	75	%
	 
      	 	
                                    Chief
      Administrative Officer & Corporate Secretary

                                  	 	 	75	%
	 
      	 	
                                    Chief
      Compliance Officer

                                  	 	 	75	%
	 
      	 	
                                    General
      Counsel

                                  	 	 	75	%
	
                                    Tier
      3

                                  	 	
                                    Program
      Vice Presidents

                                  	 	 	50	%

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      	
               
      

            	
              9.

            	
              Initial
      Grant:  The initial grant will be made as soon as
      administratively possible after the Plan is approved by KEYW’s
      Compensation Committee (and/or Board of
  Directors).

            

    

     

    
      	
            	
              10.

            	
              Grant Timing and
      Frequency:  The timing and frequency of subsequent grants
      will be made at the discretion of KEYW’s Compensation
      Committee.

            

    

     

    
      	
            	
              11.

            	
              Terms of Appreciation
      Awards:

            

    

     

    
      	
               
      

            	
              §

            	
              Type.  Awards
      may be in the form of non-qualified or tax-qualified stock options or
      stock appreciation rights settled solely in
  stock.

            

    

     

    
      	
               
      

            	
              §

            	
              Exercise
      price.  The exercise price must be at least equal to one
      hundred percent (100%) of the fair market value of KEYW common stock at
      the time of grant.

            

    

     

    
      	
               
      

            	
              §

            	
              Option
      term.  Recipients shall have up to ten (10) years from
      the date of grant to exercise their stock
  options.

            

    

     

    
      	
               
      

            	
              §

            	
              Vesting.  Stock
      options shall vest ratably over four
years.

            

    

     

    
      	
               
      

            	
              §

            	
              Accelerated
      vesting.  In the event of change-in-control, retirement,
      death or disability, all unvested stock options shall become 100% vested
      and fully exercisable.  In the event of voluntary or involuntary
      termination without cause or for termination with cause, all unvested
      stock options shall be forfeited.

            

    

     

    
      
        	
              	
                § 

              	
                Post-termination exercise
      period.  In the event of retirement, death or disability,
      individuals shall have 12 months to exercise vested stock
      options.  In the event of voluntary or involuntary termination
      without cause, individuals shall have 3 months to exercise vested stock
      options.

              

      

    

     

    
      
        
          
            	 
      
	
                    Key
      Plan Terms and Provisions

                  	
                    Page
      2

                  

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    

     

    
      	
            	
              12.

            	
              Terms of Full Value
      Awards:

            

    

     

    
      	
               
      

            	
              §

            	
              Type.  Awards
      may be in the form of restricted stock or restricted stock
      units.  Each Restricted Stock Unit is a notional amount that
      represents one unvested share of the KEYW’s common
  stock.

            

    

     

    
      	
               
      

            	
              §

            	
              Vesting.  Restricted
      stock/units shall vest 100% after three
years.

            

    

     

    
      	
               
      

            	
              §

            	
              Accelerated
      vesting.  In the event of change-in-control, retirement,
      death or disability, all restrictions on restricted stock/units shall
      lapse.  In the event of voluntary or involuntary termination
      without cause, all restricted stock/units shall be
    forfeited.

            

    

     

    
      	
               
      

            	
              §

            	
              Dividend
      equivalents.  Recipients shall earn dividend equivalents
      on all restricted stock/units.

            

    

     

    
      	
               
      

            	
              §

            	
              Voting rights.
      Recipients shall not be entitled to any voting rights with respect to the
      Company’s common stock unless such award has vested and the share
      underlying it has been distributed.

            

    

     

    
      	
              13.  

            	
              Plan
      Administration:  The Plan will be administered by the
      Compensation Committee, which reserves the right at any time to amend,
      interpret or terminate the Plan, in whole or in
  part.

            

    

     

    
      
        
          	 
      
	
                  Key
      Plan Terms and Provisions

                	
                  Page
      3

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