0000950123-09-059396 Sample Contracts

Mr. John G. Duffy c/o KBW, Inc. 787 Seventh Avenue New York, NY 10019 Dear John:
Kbw, Inc. • November 6th, 2009 • Security brokers, dealers & flotation companies

Reference is hereby made to the Amended and Restated Employment Agreement by and between KBW, Inc. and you, dated as December 31, 2008 (the “Employment Agreement”). This letter confirms the agreement between KBW, Inc. and you to amend the Employment Agreement to extend the Employment Period (as defined in the Employment Agreement) to January 31, 2010, and, subject to your execution of this letter below, hereby so amends the Employment Agreement.

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Mr. Andrew M. Senchak c/o KBW, Inc. 787 Seventh Avenue New York, NY 10019 Dear Andrew:
Kbw, Inc. • November 6th, 2009 • Security brokers, dealers & flotation companies

Reference is hereby made to the Amended and Restated Employment Agreement by and between KBW, Inc. and you, dated as December 31, 2008 (the “Employment Agreement”). This letter confirms the agreement between KBW, Inc. and you to amend the Employment Agreement to extend the Employment Period (as defined in the Employment Agreement) to January 31, 2010, and, subject to your execution of this letter below, hereby so amends the Employment Agreement.

Mr. Thomas B. Michaud c/o KBW, Inc. 787 Seventh Avenue New York, NY 10019 Dear Tom:
Kbw, Inc. • November 6th, 2009 • Security brokers, dealers & flotation companies

Reference is hereby made to the Amended and Restated Employment Agreement by and between KBW, Inc. and you, dated as December 31, 2008 (the “Employment Agreement”). This letter confirms the agreement between KBW, Inc. and you to amend the Employment Agreement to extend the Employment Period (as defined in the Employment Agreement) to January 31, 2010, and, subject to your execution of this letter below, hereby so amends the Employment Agreement.

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