February 16, 2016

Community Colleges and Workforce Development

ATTN: John Asher
255 Capital Street NE
Salem, OR 97310

Dear John Asher:

This letter is being issued in accordance with the Worker Adjustment and Retraining Notification Act
(WARN) in order to notify you that Aequitas Capital Management Inc. and Aequitas Enterprise Services
LLC (Aequitas) is laying off employees at its offices in Lake Oswego, Oregon. The first impacted
employee separated on February 15, 2016. This layoff will result in the loss of eighty jobs in Oregon.
This layoff is intended to be permanent in nature and we do not anticipate recalling employees back to
work at this time. Aequitas is not part of a union and bumping rights do not exist.
Bob Jesenik, Chief Executive Officer can be reached at 503-419-3500 for further questions.

Bob Jesenik
Chief Executive Officer
Attachments:
WARN Notice dated January 29, 2016

HEADQUARTERS
5300 Meadows Road
Suite 400
Lake Oswego, Oregon
97035
aequitascapital.com

To: All Aequitas Employees

Date: January 29, 2016

As has been previously announced, AEQUITAS CAPITAL MANAGEMENT, INC., AEQUITAS ENTERPRISE
SERVICES, LLC, and their affiliated entities (collectively, the Company) will experience a reduction in its
workforce. This notice, which is issued in compliance with the Worker Adjustment and Retraining Notification
(WARN) Act, is to inform you that you are likely to be laid off. The purpose of this notice is to provide you with
the answers to some questions that you may have regarding your layoff so that you can prepare to locate
other employment. The information provided below represents the best information available to the
Company at the time this notice was issued.
1. Is my layoff going to be permanent or can I expect to be recalled to employment at some time in the
future?
At this time, you should consider your layoff to be permanent. While it is possible that some employees
could be maintained or recalled to work, no Company employee who is being laid off should count on
being recalled to employment with the Company.
2. When will the layoffs begin and when am I likely to be laid off?
The Company is communicating the layoff immediately with the expectation that the announced layoffs
will be complete as of March 29, 2016.
3. Will the company be providing any benefits to employees who are laid off?
The Company is providing effected employees this 60-day notice of their termination during which time
the Company intends to pay employees their regular wages and continue providing standard employee
benefits. This is not an employment contract of any kind and the Company remains an At Will Employer,
so you may resign at any time if you do not wish to continue. The Company encourages effected
employees to use the 60-day notice period to dedicate to their job search.
4. Do I have the right to bump other employees from their jobs based on seniority with the company?
No. Employees will not have the right to bump other employees from their jobs based on seniority with
the Company or any other criteria.
5. Who can I contact for questions or further information?
Bob Jesenik, Chief Executive Officer
Phone: 503.419.3501 or via email: bjesenik@aequitascapital.com

HEADQUARTERS
5300 Meadows Road
Suite 400
Lake Oswego Oregon
97035

NEW YORK CITY

350 Park Ave
25th Floor
New York, NY
10022

503. 419.3500

aequitascapital.com

Department)
Accounting
Sales
Administrative
Audit
Business Development
Business Intelligence
Business Operations
Capital Markets
Corporate Marketing
ESS
Finance
Flight
Fund Operations
Human Resources
IT
Portfolio Management
Private Credit
Tax

Total)EE's)
Terminated
10
4
5
2
1
1
5
1
6
5
6
3
3
8
8
9
2
1

80