13F-HR 1 athena13fhr123110.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F COVER PAGE REPORT FOR THE CALENDAR QUARTER ENDED DECEMBER 31, 2009 Check here if Amendment [ ] This Amendment (check only one) [ ] is a restatement [ ] adds new holdings entries Institutional Investment Manager Filing this Report: Name: Athena Capital Management Inc. Address: 50 Monument Rd., Suite 201, Bala Cynwyd, PA 19004 Form 13F File Number: 28-12902 =============================================================================== The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Beth N. Lowson Title: Attorney-In-Fact for David P. Cohen, President of Athena Capital Management Inc. Phone: (914) 220-1919 for Beth N. Lowson or (484) 434-2258 for David P. Cohen Signature, Place, and Date of Signing: Athena Capital Management Inc. By: Mr. David P. Cohen, President By: /s/ Beth N. Lowson Beth N. Lowson White Plains, New York February 10, 2011 Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Managers: 0 Form 13F Information Table Entry Total: 135 Form 13F Information Table Value Total: 117,361 (thousands) List of Other Included Managers: No. Name Form 13F File Number ----------------------------------------------------------------------------------------------------------------------------------- FORM 13F INFORMATION TABLE

COLUMN: 1 2 3 4 5 6 7 8 ----------------------- --------- ---------- -------- --------- ---- -------- ------------- ---------- ----------------------- TITLE OF VALUE SHARES OR ~~S H~~SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER CLASS CUSIP (~~x1000~~x$1000) PRN AMT PRN CALL DSCRTN MANAGERS SOLE SHARED NONE ----------------------- --------- ---------- -------- --------- ---- ---- -------------- ---------- ------- ------- ----- AEHR TEST SYSTEMS COM 00760J108 2422 18100 SH SHARED-OTHER N/A 18100 AEHR TEST SYSTEMS COM 00706J108 5349 40602 SH SOLE N/A 40602 AEROSONIC CORP DEL COM PAR 008015307 ~~577~~401 115600 SH SHARED-OTHER N/A 115600 $0.40 AEROSONIC CORP DEL COM PAR 008015307 ~~843~~586 168948 SH SOLE N/A 168948 $0.40 AH BELO CORP COM CL A 001282102 ~~650~~1750 201162 SH SHARED-OTHER N/A 201162 AH BELO CORP COM CL A 001282102 ~~709~~1910 219500 SH SOLE N/A 219500 ALLIANCE FIBER OPTIC COM ~~018680108~~NEW ~~259~~018680306 ~~206800~~649 41360 SH SHARED-OTHER N/A ~~206800~~41360 PRODS I ALLIANCE FIBER OPTIC COM ~~018680108~~NEW 33018680306 ~~26500~~83 5300 SH SOLE N/A ~~26500~~5300 PRODS I AMERISERV FINANC INC COM 03074A102 7465 41000 SH SHARED-OTHER N/A 41000 AMERISERV FINANC INC COM 03074A102 2018 11200 SH SOLE N/A 11200 AMPCO PITTSBURGH CORP COM 032037103 ~~997~~1052 37500 SH SHARED-OTHER N/A 37500 AMPCO PITTSBURGH CORP COM 032037103 ~~625~~659 23500 SH SOLE N/A 23500 ~~ARISTOTLE~~ARGAN ~~CORP~~INC COM ~~NEW~~04010E109 ~~040448201~~74 398025 ~~7200~~ SH SHARED-OTHER N/A ~~7200~~8025 ~~ARISTOTLE~~ARGAN ~~CORP~~INC COM ~~NEW~~04010E109 ~~040448201~~140 1915123 ~~3600~~ SH SOLE N/A ~~3600~~15123 ASML HOLDINGS NY REG SHS N07059186 ~~729~~946 24675 SH SHARED-OTHER N/A 24675 ASTRONICS CORP COM 046433108 ~~776~~1734 82570 SH SHARED-OTHER N/A 82570 ASTRONICS CORP COM 046433108 ~~819~~1830 87145 SH SOLE N/A 87145 ATRION CORP COM 049904105 ~~289~~359 2000 SH SHARED-OTHER N/A 2000 ATRION CORP COM 049904105 ~~1069~~1328 7400 SH SOLE N/A 7400 BCSB BANKCORP INC COM 055367106 6383 7341 SH SHARED-OTHER N/A 7341 BCSB BANKCORP INC COM 055367106 7599 8765 SH SOLE N/A 8765 BELO CORP COM SER A 080555105 ~~1174~~1536 217000 SH SHARED-OTHER N/A 217000 BELO CORP COM SER A 080555105 ~~1488~~1947 275000 SH SOLE N/A 275000 BENEFICIAL MUTUAL COM 08173R104 ~~227~~220 24916 SH SOLE N/A 24916 BANCORP IN BREEZE EASTERN CORP COM 106764103 8592 13000 SH SHARED-OTHER N/A 13000 CAMDEN NATIONAL CORP COM 133034108 ~~2692~~2952 81480 SH SHARED-OTHER N/A 81480 CAMDEN NATIONAL CORP COM 133034108 ~~1238~~1357 37456 SH SOLE N/A 37456 CAPITAL ~~SENIOR~~SR LIVING CORP COM 140475104 ~~219~~249 ~~35894~~37094 SH SHARED-OTHER N/A ~~35894~~37094 CAPITAL ~~SENIOR~~SR LIVING CORP COM 140475104 ~~303~~345 ~~49695~~51498 SH SOLE N/A ~~49695~~51498 CENTURY BANCORP INC CL A 156432106 ~~574~~709 26450 SH SHARED-OTHER N/A 26450 MASS NON VTG CENTURY BANCORP INC CL A 156432106 ~~210~~259 9663 SH SOLE N/A 9663 MASS NON VTG CFS BANCORP INC COM 12525D102 8494 17900 SH SHARED-OTHER N/A 17900 CFS BANCORP INC COM 12525D102 2629 5500 SH SOLE N/A 5500 CHASE CORP COM 16150R104 ~~3057~~4259 261300 SH SHARED-OTHER N/A 261300 CHASE CORP COM 16150R104 ~~1745~~2431 149130 SH SOLE N/A 149130 CHARTER FINL CORP WEST COM 16122M100 401 45000 SH SHARED-OTHER N/A 45000 PT GA CHARTER FINL CORP WEST COM 16122M100 623 70000 SH SOLE N/A 70000 PT GA CIMATRON LTD ORD M23798107 2575 ~~26700~~26200 SH SHARED-OTHER N/A ~~26700~~26200 CIMATRON LTD ORD M23798107 71265 ~~77315~~92579 SH SOLE N/A ~~77315~~92579 CITIZENS & NORTHERN COM 172922106 296 19900 SH SHARED-OTHER N/A 19900 CORP CITIZENS & NORTHERN COM 172922106 401 27000 SH SOLE N/A 27000 CORP CMS BANCORP INC COM 12600U102 4377 ~~6000~~7800 SH SHARED-OTHER N/A ~~6000~~7800 CMS BANCORP INC COM 12600U102 56118 ~~7870~~11975 SH SOLE N/A ~~7870~~11975 ~~CMNTY~~COMMUNITY BANK ~~SYSTM~~SYS INC COM 203607106 ~~362~~387 ~~19838~~13938 SH SHARED-OTHER N/A ~~19838~~13938 DANVERS BANKCORP INC COM 236442109 ~~272~~353 20000 SH SOLE N/A 20000 DAWSON GEOPHYSICAL CO COM 239359102 ~~974~~1135 35571 SH SHARED-OTHER N/A 35571 DAWSON GEOPHYSICAL CO COM 239359102 ~~744~~867 27187 SH SOLE N/A 27187 DELUXE CORP COM 248019101 ~~648~~872 37900 SH SHARED-OTHER N/A 37900 DELUXE CORP COM 248019101 ~~118~~159 6900 SH SOLE N/A 6900 DONEGAL GROUP INC CL B 257701300 ~~209~~210 11940 SH SHARED-OTHER N/A 11940 DONEGAL GROUP INC CL B 257701300 ~~184~~185 10487 SH SOLE N/A 10487 DONEGAL GROUP INC CL A 257701201 ~~369~~346 23882 SH SHARED-OTHER N/A 23882 DONEGAL GROUP INC CL A 257701201 1918 1261 SH SOLE N/A 1261 DORMAN PRODUCTS INC COM 258278100 ~~2646~~2983 ~~176150~~82326 SH SHARED-OTHER N/A ~~176150~~82326 DORMAN PRODUCTS INC COM 258278100 ~~857~~1109 ~~57050~~30605 SH SOLE N/A ~~57050~~30605 EAGLE BANCORP MONT INC COM 26942G100 91 8400 SH SHARED-OTHER N/A 8400 EAGLE BANCORP MONT INC COM 26942G100 184 17018 SH SOLE N/A 17018 EASTERN ~~CORPORATION~~CO COM 276317104 ~~1091~~1225 ~~68600~~68617 SH SHARED-OTHER N/A ~~68600~~68617 EASTERN ~~CORPORATION~~CO COM 276317104 ~~880~~992 ~~55375~~55575 SH SOLE N/A ~~55375~~55575 ECOLOGY & ENVRNMT INC CL A 278878103 ~~520~~517 ~~32391~~34491 SH SHARED-OTHER N/A ~~32391~~34491 ECOLOGY & ENVRNMT INC CL A 278878103 ~~617~~730 ~~38456~~48691 SH SOLE N/A ~~38456~~48691 EDAC TECHNOLOGIES CORP COM 279285100 ~~249~~232 ~~54196~~68696 SH SHARED-OTHER N/A ~~54196~~68696 EDAC TECHNOLOGIES CORP COM 279285100 ~~647~~513 ~~141011~~151711 SH SOLE N/A ~~141011~~151711 ESCALADE INC COM 296056104 ~~500~~1267 198606 SH SHARED-OTHER N/A 198606 ESCALADE INC COM 296056104 ~~238~~603 94465 SH SOLE N/A 94465 EWEXCEED ~~SCRIPPS~~COMPANY COLTD ~~OHIO~~UNIT EXG32335120 ~~811054113~~118 ~~944~~31600 ~~125833~~ SH SHARED-OTHER N/A ~~125833~~31600 ~~DISTRIB~~11/08/11 EWEXCEED ~~SCRIPPS~~COMPANY COLTD ~~OHIO~~UNIT EXG32335120 ~~811054113~~60 ~~1163~~16000 ~~155031~~ SH SOLE N/A ~~155031~~16000 ~~DISTRIB~~11/08/11 FOSTER LB CO ~~CL A~~ COM 350060109 ~~2732~~3658 89343 SH SHARED-OTHER N/A 89343 FOSTER LB CO ~~CL A~~ COM 350060109 ~~587~~786 19189 SH SOLE N/A 19189 FOX CHASE BANCORP ~~INC~~ COM ~~35137P106~~35137T108 ~~100~~127 ~~10000~~10692 SH SOLE N/A ~~10000~~10692 ~~GETTY~~INC ~~REALTY~~NEW ~~CORP~~GIGA ~~NEW~~TRONICS INC COM ~~374297109~~375175106 ~~185~~35 ~~7525~~13069 SH ~~SHARED-OTHER~~SOLE N/A ~~7525~~13069 ~~GETTY~~GLOBAL ~~REALTY~~POWER ~~CORP~~EQUIP ~~NEW~~GP I COM ~~374297109~~PAR 5437941P306 ~~2200~~3718 160264 SH ~~SOLE~~SHARED-OTHER N/A ~~2200~~160264 ~~GIGA~~$0.01 ~~TRONICS~~GLOBAL ~~INC~~POWER EQUIP GP I COM ~~375175106~~PAR 2437941P306 ~~13295~~5403 232878 SH SOLE N/A ~~13295~~232878 $0.01 GLOBECOMM SYSTEMS INC COM 37956X103 ~~1639~~2270 ~~225500~~227000 SH SHARED-OTHER N/A ~~225500~~227000 GLOBECOMM SYSTEMS INC COM 37956X103 ~~1273~~1776 ~~175098~~177598 SH SOLE N/A ~~175098~~177598 GREAT LAKES DREDGE COM 390607109 ~~999~~1498 ~~143100~~203300 SH SHARED-OTHER N/A ~~143100~~203300 & DOCK CO GREAT LAKES DREDGE COM 390607109 ~~640~~1450 ~~91675~~196807 SH SOLE N/A ~~91675~~196807 & DOCK CO GTSI CORP COM 36238K103 ~~1554~~1018 ~~195490~~216133 SH SHARED-OTHER N/A ~~195490~~216133 GTSI CORP COM 36238K103 ~~652~~955 ~~82072~~202829 SH SOLE N/A ~~82072~~202829 ~~IDEATION~~INVESTORS ~~ACQ~~BANCORP ~~CORP~~INC COM ~~451665103~~46146P102 ~~755~~157 ~~95900~~12000 SH ~~SHARED-OTHER~~SOLE N/A ~~95900~~12000 ~~IDEATION~~JACKSONVILLE ~~ACQ~~BANCORP ~~CORP~~ COM ~~451665103~~46924R106 ~~673~~126 ~~85500~~11700 SH ~~SOLE N/A 85500 IDEATION ACQ CORP *W EXP 455166111 86 51000 SH~~ SHARED-OTHER N/A ~~51000~~11700 ~~11/19/201 INTER ATLANTIC FINL~~ INC ~~COM~~MD ~~45810H100~~JACKSONVILLE 64BANCORP ~~8100 SH SHARED-OTHER N/A 8100 INTER ATLANTIC FINL INC~~ COM ~~45810H100~~46924R106 72210 ~~9200~~19442 SH SOLE N/A ~~9200~~19442 ~~INVESTORS BANCORP~~ INC ~~COM~~MD ~~46146P102 127 12000 SH SOLE N/A 12000~~ JOURNAL COMMUNIC INC CL A 481130102 ~~612~~1259 ~~166340~~249240 SH SHARED-OTHER N/A ~~166340~~249240 JOURNAL COMMUNIC INC CL A 481130102 ~~791~~1378 ~~215000~~272837 SH SOLE N/A ~~215000~~272837 ~~K-TRON INT'L INC COM 482730108 805 8454 SH SHARED-OTHER N/A 8454 K-TRON INT'L INC COM 482730108 286 3000 SH SOLE N/A 3000~~ KAPSTONE PAPER COM 48562P103 ~~2642~~4967 324614 SH SHARED-OTHER N/A 324614 & PACKAGING CORP KAPSTONE PAPER COM 48562P103 ~~3813~~7136 ~~468427~~466427 SH SOLE N/A ~~468427~~466427 & PACKAGING CORP KIMCO ~~RELATY~~RLTY CORP COM 49446R109 ~~293~~406 22500 SH SHARED-OTHER N/A 22500 KOSS CORP COM 500692108 ~~117~~114 ~~10000~~22800 SH SHARED-OTHER N/A ~~10000~~22800 KOSS CORP COM 500692108 83 16575 SH SOLE N/A 16575 MER TELEMANAGEMENT ~~ORD~~SHS ~~M69676100~~M69676126 9265 ~~83701~~33750 SH SHARED-OTHER N/A ~~83701~~33750 SOLUTIONS MER TELEMANAGEMENT ~~ORD~~SHS ~~M69676100~~M69676126 4032 ~~36000~~16600 SH SOLE N/A ~~36000~~16600 SOLUTIONS MERCER INSUR GRP INC COM 587902107 ~~232~~359 12843 SH SHARED-OTHER N/A 12843 MERCER INSUR GRP INC COM 587902107 ~~500~~774 27655 SH SOLE N/A 27655 MOD-PAC CORP COM 607495108 73135 26978 SH SHARED-OTHER N/A 26978 MOD-PAC CORP COM 607495108 2965 ~~10787~~12932 SH SOLE N/A ~~10787~~12932 ~~MONTEREY GRMET FDS INC COM 612570101 70 35000 SH SHARED-OTHER N/A 35000 MONTEREY GRMET FDS INC COM 612570101 218 108426 SH SOLE N/A 108426~~ MUTUALFIRST FINL ~~CORP~~INC COM 62845B104 ~~199~~263 28260 SH SHARED-OTHER N/A 28260 MUTUALFIRST FINL ~~CORP~~INC COM 62845B104 4053 5666 SH SOLE N/A 5666 NAVIOS MARITIME HLDGS COM Y62196103 7 1364 SH SHARED-OTHER N/A 1364 NAVIOS MARITIME HLDGS COM Y62196103 ~~167~~180 34000 SH SOLE N/A 34000 ~~NORTHWEST~~OBA ~~BANCORP~~FINANCIAL SVCS INC COM ~~667328108~~67424G101 ~~457~~182 ~~20000~~13200 SH SHARED-OTHER N/A ~~20000~~13200 ~~NORTHWEST~~OBA ~~BANCORP~~FINANCIAL SVCS INC COM ~~667328108~~67424G101 ~~240~~307 ~~10500~~22200 SH SOLE N/A ~~10500~~22200 ~~OVERTURE~~ONVIA ~~ACQ~~INC ~~CORP~~COM ~~UNIT~~NEW 9968338T403 640 141200 SH SHARED-OTHER N/A ~~G6830P209~~141200 ~~175~~ONVIA ~~17400~~INC COM NEW 68338T403 1145 252853 SH SOLE N/A ~~17400~~252853 ~~99/9999~~PATHFINDER ~~OVERTURE~~BANCORP ~~ACQ~~INC ~~CORP~~COM ~~SHS~~70320A103 ~~G6830P100~~262 ~~109~~30815 ~~11000~~ SH SHARED-OTHER N/A ~~11000~~30815 ~~OVERTURE~~PATHFINDER ~~ACQ~~BANCORP ~~CORP~~INC *WCOM ~~EXP~~70320A103 ~~G6830P118~~512 360215 ~~13600~~ SH ~~SHARED-OTHER~~SOLE N/A ~~13600~~60215 ~~01/30/201~~PENN ~~PATHFINDER~~MILLERS ~~BANKCORP~~HLDG ~~INC~~CORP COM ~~70320A103~~707561106 ~~235~~323 ~~30815~~24426 SH SHARED-OTHER N/A ~~30815~~24426 ~~PATHFINDER~~PENN ~~BANKCORP~~MILLERS ~~INC~~HLDG CORP COM ~~70320A103~~707561106 ~~405~~527 ~~53058~~39797 SH SOLE N/A ~~53058~~39797 PMFG INC COM 69345P103 ~~4301~~5466 ~~334464~~333264 SH SHARED-OTHER N/A ~~334464~~333264 PMFG INC COM 69345P103 ~~3997~~5097 310770 SH SOLE N/A 310770 PROASSURANCE CORP COM 74267C106 ~~557~~647 10679 SH SHARED-OTHER N/A 10679 PROASSURANCE CORP COM 74267C106 ~~183~~212 3500 SH SOLE N/A 3500 ~~PROSHARES TR PSHS 74347R834 402 14000 SH SHARED-OTHER N/A 14000 ULSHRUS2000~~ PROV & WOR RAILRD CO COM 743737108 ~~261~~427 25500 SH SHARED-OTHER N/A 25500 PROV & WOR RAILRD CO COM 743737108 1525 1500 SH SOLE N/A 1500 ~~STERLING~~ROMA ~~FINL~~FINANCIAL CORP ~~WASH~~ COM ~~859319105~~77581P109 34119 ~~17151~~11200 SH SHARED-OTHER N/A ~~17151~~11200 ~~SUPERIOR~~ROMA ~~UNIF~~FINANCIAL ~~GRP~~CORP ~~INC~~ COM ~~868358102~~77581P109 ~~113~~178 ~~14500~~16800 SH SOLE N/A 16800 SCRIPPS EW CO OHIO CL A NEW 811054402 1374 135333 SH SHARED-OTHER N/A ~~14500~~135333 ~~SUPERIOR~~SCRIPPS ~~UNIF~~EW ~~GRP~~CO ~~INC~~OHIO ~~COM~~CL ~~868358102~~A 8NEW ~~1000~~811054402 1731 170531 SH SOLE N/A ~~1000~~170531 ~~20/20~~SEARCHMEDIA ~~CHINA~~HLDGS ~~CAP~~LTD ~~COM~~SHS ~~90212G109~~G8005Y106 ~~141~~104 ~~17700~~33400 SH SHARED-OTHER N/A ~~17700~~33400 ~~ACQUIRCO~~SEARCHMEDIA ~~INC~~HLDGS ~~20/20~~LTD ~~CHINA~~SHS ~~CAP~~G8005Y106 ~~COM~~72 ~~90212G109~~23100 ~~176 22125~~ SH SOLE N/A ~~22125~~23100 ~~ACQUIRCO~~SEARCHMEDIA ~~INC~~HLDGS ~~20/20~~LTD CHINACAP *W EXP ~~90212G117~~G8005Y114 696 ~~54000~~25000 SH SHARED-OTHER N/A ~~54000~~25000 ~~ACQUIRCO INC~~ 11/0819/~~201~~11 ~~20/20~~SUPERIOR ~~CHINACAP~~UNIF *WGRP ~~EXP~~INC ~~90212G117~~COM 59868358102 ~~46000~~160 14500 SH ~~SOLE~~SHARED-OTHER N/A ~~46000~~14500 ~~ACQUIRCO~~SUPERIOR UNIF GRP INC COM 868358102 11 1000 SH SOLE N/~~08/201~~A 1000 TECHE HOLDING CO COM 878330109 ~~457~~481 13800 SH SHARED-OTHER N/A 13800 TECHE HOLDING CO COM 878330109 ~~281~~296 8500 SH SOLE N/A 8500 TF FINANCIAL CORP COM 872391107 ~~649~~822 ~~34600~~37100 SH SHARED-OTHER N/A ~~34600~~37100 TF FINANCIAL CORP COM 872391107 ~~184~~381 ~~9821~~17221 SH SOLE N/A ~~9821~~17221 ~~TRANSWITCH CORP COM 894065101 94 134905 SH SHARED-OTHER N/A 134905 TRANSWITCH CORP COM 894065101 25 35000 SH SOLE N/A 35000~~ UNITED ~~BANCSHARES INC COM 909907107 360 18432 SH SHARED-OTHER N/A 18432 WEST V UNITED~~ ONLINE INC COM 911268100 ~~174~~112 ~~21700~~17000 SH SHARED-OTHER N/A ~~21700~~17000 UNITED ONLINE INC COM 911268100 ~~228~~116 ~~28300~~17500 SH SOLE N/A ~~28300~~17500 UNIVERSAL STAINLESS COM 913837100 ~~542~~929 29700 SH SHARED-OTHER N/A 29700 & ALLOY US LIME & MINERAL COM 911922102 ~~2252~~2642 62701 SH SHARED-OTHER N/A 62701 US LIME & MINERAL COM 911922102 ~~1809~~1640 38929 SH SOLE N/A 38929 VIRCO MANUFACTURING CO COM 927651109 ~~1154~~1016 384756 SH SHARED-OTHER N/A 384756 VIRCO MANUFACTURING CO COM 927651109 ~~1337~~1190 ~~445755~~450883 SH SOLE N/A ~~445755~~450883 YADKIN VLLY FNCL CORP COM 984314104 249 5064 SH SHARED-OTHER N/A 5064 YADKIN VLLY FNCL CORP COM 984314104 249 5160 SH SOLE N/A 5160 Shares reported as "Sole" under Column 6 "Investment Discretion" and Column 8 "Voting Authority" are held by Minerva Group, LP, an affiliate of Athena Capital Management Inc.

============================================================================== POWER OF ATTORNEY The undersigned does hereby constitute and appoint Stephen J. Nelson, Mary Anne Mayo, Scott M. Dubowsky, Sean W. McDowell and Beth N. Lowson, each of The Nelson Law Firm, LLC, One North Broadway, Suite 712, White Plains, NY 10601, signing singly, with full power of substitution, as the true and lawful attorney of the undersigned, and authorizes and designates each of them to sign on behalf of the undersigned, and to file filings and any amendments thereto made by or on behalf of the undersigned in respect of the beneficial ownership of equity securities held by the undersigned, directly, indirectly or beneficially, pursuant to Sections 13(d), 13(g) and 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the rules and regulations thereunder. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming any of the undersigned's responsibilities to comply with Sections 13(d), 13(g) or 16 of the Exchange Act. This Power of Attorney shall remain in full force and effect until withdrawn by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact. IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 25th day of January, 2011. By: /s/ David P. Cohen David P. Cohen

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