MEMORANDUM March 10, 2015 TO: All KBT&F Attorneys and Staff FROM: Mare E. Kasowitz We will be reducing attorney and staff head count in certain areas today. Impacted attorneys and staff members were informed of these actions this morning. We are providing each with severance benefits and making career counseling services available. Today's reduction is necessary to position the firm to continue to thrive. Although we had a successful 2014, we recognize that there are challenges in this market and that expenses and staffing have to be managed in order for us to meet our clients’ needs and to remain profitable. ‘The attorneys and staff members affected by today’s reduction are all first-class professionals who have contributed greatly to our firm and we thank them for their service. In the event you receive a press inquiry regarding today’s announcement, please direct the reporter to me, Dan Benson or Aaron Marks. Mare