We are governed by a Statement of Principles that sets high standards for us:

BASIC PRINCIPLES

1. The Firm is a meritocracy. Ability and personal compatibility with the other partners are the only requirements for success. Business and family connections do not count. No nepotism (no relatives in professional positions).

2. The Firm avoids the rigidities of large law firms and is thus attractive to talented and innovative people who are not happy in a corporate type bureaucratic structure.

3. The Firm operates in a collegial manner. Important decisions, such as admission of partners, are made only on a consensus basis in which there is no strong dissent. There are close personal relationships among the lawyers of the Firm; close friendships; interpersonal relationships are supportive - never internally competitive. Deference to the desires and needs of others is emphasized. All competitive instincts are turned outward rather than inward.

4. The success of the Firm is shared on an equitable basis with all who make it possible. Hours worked, client contact, firm administration - all are expected contributions in some combination, but do not affect partnership shares, which are determined only by seniority. Younger partners progress automatically absent extraordinary circumstances. As a general rule, older partners’ shares decline as they approach optional retirement at age 65 or mandatory retirement at age 70, but a retired partner who elects and is able may continue to be active and, in that event, will be reasonably compensated on the basis of value to the Firm. Associate and non-legal staff share in the Firm’s success through substantial bonuses based on Firm performance. Lawyers and non-legal staff share great pride in the quality of the Firm’s work.

5. The practice of the Firm is focused on a limited number of interesting and difficult specialties. More repetitive and less demanding work is generally avoided. The Firm would rather decline matters for which its services are sought than grow at the expense of quality.

6.The Firm follows a policy of slow growth, careful recruiting of outstanding people, and no lateral entry of partners absent extraordinary circumstances. The Firm nurtures carefully its traditions and culture. The Firm does not seek to maintain a specific market share or expand its practice into areas that do not fit the Firm’s culture.

7. Associates get full responsibility as soon as they are ready. The basic aim is to be highly selective in the hiring process so that, to the maximum degree consistent with the needs of the Firm, associates will eventually become partners and are thus treated from the outset as though they were permanent members of the team. Partnership decisions are made solely on the basis of ability, professionalism and shared work ethic as a lawyer, compatibility, and the ability to contribute in a meaningful way to the success of the Firm. Partnership is neither guaranteed nor automatic.

8. The Firm is open-minded to consulting joint ventures in areas of practice that fit with the Firm’s expertise (in real estate and acquisition work, for example).

9. The Firm encourages its lawyers to teach, speak, write treatises and law review articles and to participate in bar association and other professional and community activities.

10. The Firm highly values its non-legal staff. In hiring that staff, it values aptitude over experience. It is committed to the belief that intelligence and judgment are important in all phases of the Firm’s operations. It compensates staff well. The staff is highly motivated, committed to make all effort required to get the job done properly and considers itself a real part of the team. Most routine administrative matters are handled by staff without direct participation by partners except where appropriate.

11. Clients are Firm clients; not those of individuals. Close relationships are maintained with clients who desire such. Personal friendships frequently develop with clients. The Firm’s operations are geared to the needs of its practice - 24 hours 7 day full service - always prepared to provide the requested services, even on an overnight basis.

12.Fees are based on the factors on which the client and Firm agree, normally in advance. These may include the value of services as well as the time involved in accomplishing them. Every effort is made to assure that the work is performed in an efficient and cost-effective manner, by the lowest cost provider available and qualified.

13. Older partners expend great effort to teach, sponsor and promote younger lawyers in the Firm. The Firm has a strong commitment to the continuing legal education and development of its lawyers. It is also committed to organizing its resources to minimize duplication of effort and make available to all the Firm’s lawyers the collective experience of the Firm.

14. The Firm places a high value on quality of life of its lawyers and its non-legal staff. The Firm makes a conscious effort to make its work environment pleasant as well as professional. The Firm is committed to the principle that people should be treated well.

15. While the Firm’s accounting and billing practices are conducted in the businesslike manner that clients expect and that are consistent with the fiscal responsibilities each partner owes to the Firm, the Firm is not a business; it is an old fashioned professional partnership. There is no partnership agreement - only this statement of principles to which all subscribe.

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