1034-00001 · Graystone & Falk LLP · Pre-Engagement

retainer-receipt-confirmation.docx DOCUMENT Litigation

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MEMORANDUM

INTERNAL / CONFIDENTIAL — TRUST ACCOUNT RECORDS

TO: Conrad Ashby, Billing Partner, White Collar & Investigations Practice Group, Calderwood & Harkness LLP

FROM: Office of the General Counsel / Trust Account Administration, Calderwood & Harkness LLP

CC: Bernard Crawford, Responsible Partner, Labor & Employment Practice Group, Calderwood & Harkness LLP; Lisa Morrow, Associate, Banking & Finance Practice Group, Calderwood & Harkness LLP

DATE: December 7, 2022

RE: Confirmation of Retainer Deposit — Matter No. 1034-00001 — Representation of Jonathan R. Caldwell (Grand Jury Subpoena Response)

1. Purpose

This memorandum confirms the receipt and deposit of the initial retainer payment in connection with Calderwood & Harkness LLP's representation of Jonathan R. Caldwell, as set forth in the engagement letter dated December 5, 2022 (the "Engagement Letter"), executed by Conrad Ashby (Billing Partner) and Bernard Crawford (Responsible Partner) on behalf of the firm, and countersigned by Mr. Caldwell on the same date. The Engagement Letter was received by Trust Account Administration, together with the original signature pages and attachments thereto, on December 6, 2022.

The retainer was required under the terms of the Engagement Letter as a condition precedent to the commencement of substantive work on behalf of Mr. Caldwell. Specifically, Section 4(a) of the Engagement Letter provides that the firm shall not undertake any substantive representation activities, including but not limited to the review and production of documents, the preparation of any correspondence to the U.S. Attorney's Office, or the making of any appearance before the grand jury on behalf of the client, until such time as the retainer has been received and confirmed as deposited in the firm's IOLA Trust Account.

The retainer was required in connection with Mr. Caldwell's response to a federal grand jury subpoena issued by the U.S. Attorney's Office for the Southern District of New York, Grand Jury No. 22-GJ-4481. The receipt and deposit of the retainer, as detailed herein, satisfies the condition set forth in the Engagement Letter, and the engagement team is now authorized to proceed with substantive work on the matter.

This memorandum is prepared for internal recordkeeping purposes and shall be maintained in the matter file and in the firm's central trust account records in accordance with firm policy and applicable rules of professional conduct.

2. Client and Matter Information

The following information has been verified against the Engagement Letter, the firm's conflicts clearance memorandum dated December 4, 2022, and the client intake questionnaire completed by Mr. Caldwell on December 3, 2022:

It is noted that while two associated entities are identified above, the Engagement Letter provides for the representation of Mr. Caldwell in his individual capacity only. Caldwell Capital Advisors LLC and JRC Realty Holdings LLC are identified solely for purposes of conflicts clearance and potential document custodian identification. Neither entity is a client of the firm in connection with this matter, and no attorney-client relationship has been established between the firm and either entity as of the date of this memorandum. Any future engagement relating to either associated entity would require a separate engagement letter, conflicts clearance, and retainer arrangement.

The assignment of Bernard Crawford as Responsible Partner reflects Mr. Crawford's pre-existing relationship with Mr. Caldwell in connection with employment-related advisory work performed for Caldwell Capital Advisors LLC in 2021 (Matter No. 1034-00001, now closed). Mr. Crawford's role in the present matter is supervisory and advisory; primary day-to-day responsibility for the representation rests with Conrad Ashby as Billing Partner.

3. Retainer Payment Details

The following sets forth the details of the retainer payment received by the firm:

The wire transfer was originated from Mr. Caldwell's personal checking account maintained at Greaves Bancorp The wire was received by the firm's depository bank on the morning of December 7, 2022, and was confirmed as cleared and available funds as of 11:42 a.m. Eastern Time on the same date. A copy of the wire transfer confirmation, including the originating bank reference number and the receiving bank reference number, is attached to this memorandum as Exhibit A and has been filed in the matter records.

Trust Account Administration confirms that the payor identified on the wire transfer — Jonathan R. Caldwell — is the same individual as the client identified in the Engagement Letter. No third-party payor issues arise in connection with this deposit. The firm's Anti-Money Laundering and Client Identification procedures have been satisfied in connection with the client intake process, as confirmed by the Office of the General Counsel on December 5, 2022.

4. Trust Account Deposit Information

The retainer payment has been deposited in the firm's IOLA Trust Account as follows:

The IOLA Trust Account referenced above is maintained in accordance with the New York Rules of Professional Conduct, Rule 1.15 ("Preserving Identity of Funds and Property of Others"), and applicable provisions of the New York Judiciary Law, including Judiciary Law § 497, governing Interest on Lawyer Account funds. The account is subject to regular audit and reconciliation by the firm's Finance Department, as well as periodic examination by the Lawyers' Fund for Client Protection of the State of New York, as required by applicable rules and regulations.

All client funds deposited in the IOLA Trust Account are segregated from the firm's operating funds. The trust account ledger maintained by the Finance Department reflects a sub-ledger entry for Matter No. 1034-00001, which records the deposit of $150,000.00 as of December 7, 2022. No other client funds are commingled with the funds attributable to this matter within the sub-ledger, and the aggregate balance of the IOLA Trust Account has been reconciled as of the date of this memorandum.

Interest earned on funds held in the IOLA Trust Account is remitted to the Lawyers' Fund for Client Protection in accordance with applicable law. No interest accrues to the benefit of the client or the firm on funds held in this account.

5. Application of Retainer

Pursuant to the terms of the Engagement Letter dated December 5, 2022, the retainer shall be held in trust and applied against professional fees and disbursements as they are incurred and invoiced to the client. The retainer constitutes an advance payment for services to be rendered and does not represent a flat fee, a minimum fee, or a non-refundable fee. To the extent that professional fees and disbursements incurred in connection with the matter are less than the retainer amount, the unused balance shall be refunded to the client promptly upon the conclusion of the representation, in accordance with Rule 1.15 of the New York Rules of Professional Conduct.

The applicable billing rates for the engagement team, as set forth in Section 3 of the Engagement Letter, are as follows:

The billing rates set forth above are the rates in effect as of the date of the Engagement Letter. As noted in Section 3(c) of the Engagement Letter, the firm reserves the right to adjust billing rates on an annual basis, with any such adjustment to take effect no earlier than January 1, 2024, and subject to prior written notice to the client. No rate adjustment is anticipated for the calendar year 2023.

Disbursements, including but not limited to e-discovery vendor costs, courier and overnight delivery charges, photocopying and document reproduction, travel expenses, court reporting and transcript fees, expert consulting fees (if applicable and pre-approved by the client), and other reasonable out-of-pocket expenses incurred in connection with the representation, will also be charged against the retainer balance. All disbursements will be itemized on the firm's monthly invoices.

Per Section 4(c) of the Engagement Letter, the client will be notified in writing when the retainer balance falls below $25,000.00 (Twenty-Five Thousand Dollars). Upon such notification, the client has agreed to replenish the retainer to the original amount of $150,000.00 within fifteen (15) business days of receipt of the firm's written request. Failure to replenish the retainer within the specified period may, at the firm's sole discretion and subject to applicable ethical obligations, constitute grounds for withdrawal from the representation in accordance with Rule 1.16 of the New York Rules of Professional Conduct.

Invoices will be prepared and issued on a monthly basis by the firm's Billing Department, subject to review and approval by the Billing Partner, Conrad Ashby, prior to issuance. Funds will be withdrawn from the trust account only upon issuance of an approved invoice and only in the amount of the approved charges reflected thereon.

6. Engagement Context

For purposes of contextualizing the trust account records and providing background for the matter file, the following summary of the engagement context is provided. This summary is drawn from the Engagement Letter, the client intake memorandum, and initial discussions between the engagement team and the client.

Mr. Caldwell was personally served on November 21, 2022, with a federal grand jury subpoena dated November 18, 2022, issued in connection with Grand Jury No. 22-GJ-4481, convened in the U.S. District Court for the Southern District of New York. The subpoena was issued by the U.S. Attorney's Office for the Southern District of New York, located at One St. Andrew's Plaza (with an additional mailing address at 500 Pearl Street), New York, NY 10007. The subpoena commands Mr. Caldwell to produce certain documents and records and to appear before the grand jury to give testimony.

The original return date of the subpoena is December 9, 2022. As of the date of this memorandum, the engagement team has been in communication with the assigned Assistant United States Attorney to request an extension of the return date. The extension request is pending, and the engagement team anticipates that an adjournment of at least thirty (30) days will be granted, consistent with customary practice in the Southern District. Trust Account Administration will update this memorandum or issue a supplemental memorandum if the return date affects the timing of trust account activity.

Based on the information provided by the client and reflected in the Engagement Letter, Mr. Caldwell is a witness — not a target or subject — in connection with a federal investigation. The investigation relates to the business activities of Mr. Caldwell's former business associate, Marcus W. Stavros, and an entity controlled by Mr. Stavros known as Aegean Realty Partners LLC. The specific nature of the investigation, the statutory provisions at issue, and the scope of the documents sought by the subpoena are addressed in the engagement team's privileged work product and are not set forth in this memorandum. This memorandum is limited to trust account administration matters and does not constitute, and should not be construed as, legal advice, a case assessment, or a privileged communication regarding the substance of the representation.

7. Trust Account Administration Notes

The following administrative notes are provided for the record and for the guidance of the engagement team and the Finance Department:

1. Ledger Entry. The trust account deposit of $150,000.00 has been recorded in the firm's trust account ledger under Matter No. 1034-00001. The ledger entry reflects the date of deposit (December 7, 2022), the amount deposited, the source of funds (wire transfer from client's personal account), and the current balance attributable to the matter. The ledger will be updated on a rolling basis as invoices are issued and funds are withdrawn.

2. Wire Transfer Confirmation. A copy of the wire transfer confirmation, including the originating bank's Fedwire reference number, is attached to this memorandum as Exhibit A and has been filed in both the matter file and the central trust account records maintained by the Finance Department. The original confirmation is retained by the Finance Department.

3. Withdrawal Authorization. All withdrawals from the IOLA Trust Account attributable to Matter No. 1034-00001 will be made only upon the issuance of invoices that have been reviewed and approved by the Billing Partner, Conrad Ashby. No withdrawal may be made absent a corresponding approved invoice. In the event that Mr. Ashby is unavailable to review and approve an invoice, approval authority may be delegated to the Responsible Partner, Bernard Crawford, in accordance with the firm's Trust Account Policies and Procedures Manual (revised September 2022), Section 5.3.

4. Reconciliation. Periodic trust account reconciliation reports will be prepared by the Finance Department and maintained in the central trust account records in accordance with firm policy and the requirements of the New York Rules of Professional Conduct, Rule 1.15(d). Reconciliation reports are prepared on a monthly basis, or more frequently as circumstances warrant. A copy of each reconciliation report reflecting activity attributable to Matter No. 1034-00001 will be provided to Trust Account Administration for review and retention.

5. Client Notification. In accordance with the Engagement Letter and Rule 1.15(c)(4) of the New York Rules of Professional Conduct, the client shall be promptly notified upon each withdrawal of funds from the trust account. Such notification shall be provided in writing, typically in the form of the monthly invoice and accompanying trust account statement. The client shall also be notified in writing when the retainer balance falls below the replenishment threshold of $25,000.00, as described in Section 5 of this memorandum.

6. Refund of Unused Funds. Upon conclusion of the representation, any unused balance of the retainer shall be refunded to the client within a reasonable time, and in no event later than the time period prescribed by the New York Rules of Professional Conduct. The refund shall be made by check or wire transfer to the client's account of record, as directed by the client in writing.

8. Distribution and Filing

This memorandum and all supporting documentation, including the wire transfer confirmation (Exhibit A), shall be maintained in the following locations:

• Matter File: 1034-00001, maintained by the White Collar & Investigations Practice Group, with file management responsibility assigned to Lisa Morrow, Associate.

• Central Trust Account Records: Maintained by the Finance Department, Trust Account Administration, Calderwood & Harkness LLP, 450 Park Avenue, 30th Floor, New York, NY 10022.

Copies of this memorandum have been distributed to the following individuals:

1. Conrad Ashby — Billing Partner, White Collar & Investigations Practice Group

2. Bernard Crawford — Responsible Partner, Labor & Employment Practice Group

3. Lisa Morrow — Working Associate / File Management, Banking & Finance Practice Group

4. Finance Department — Trust Account Administration

This memorandum is designated INTERNAL / CONFIDENTIAL — TRUST ACCOUNT RECORDS and is intended solely for use by the individuals and departments identified above. It should not be distributed to the client or to any third party without the prior approval of the Office of the General Counsel.

9. Confirmation

Prepared by: Trust Account Administration Office of the General Counsel Calderwood & Harkness LLP 450 Park Avenue, 30th Floor New York, NY 10022

Confirmed by:

________________________________________

Margaret T. Kellner Trust Account Administrator, Finance Department Calderwood & Harkness LLP

Date: December 7, 2022

Enclosure: Exhibit A — Wire Transfer Confirmation (December 7, 2022)

This memorandum is an internal administrative record of Calderwood & Harkness LLP and is prepared for trust account recordkeeping purposes only. It does not constitute legal advice, a case assessment, or a privileged communication regarding the substance of the representation of Jonathan R. Caldwell. All substantive communications regarding the representation are maintained separately in the privileged and confidential work product files for Matter No. 1034-00001.

Field	Detail
Client	Jonathan R. Caldwell
Client Residence	1140 Park Avenue, Apt. 14C, New York, NY 10128
Client SSN (Last 4)	XXX-XX-7283
Associated Entity (1)	Caldwell Capital Advisors LLC (EIN: 83-2174056)
Associated Entity (2)	JRC Realty Holdings LLC (EIN: 81-4493217)
Client Business Address	590 Madison Avenue, 22nd Floor, New York, NY 10022
Matter Number	1034-00001
Matter Description	Representation of Jonathan R. Caldwell in connection with response to Grand Jury Subpoena, Grand Jury No. 22-GJ-4481, U.S. District Court for the Southern District of New York
Billing Partner	Conrad Ashby, White Collar & Investigations Practice Group
Responsible Partner	Bernard Crawford, Labor & Employment Practice Group
Field	Detail
Amount Received	$150,000.00 (One Hundred Fifty Thousand Dollars)
Form of Payment	Wire transfer from client's personal bank account
Date of Receipt	December 7, 2022
Payor	Jonathan R. Caldwell
Field	Detail
Depository Bank	Northern Capital Bank, N.A.
Account Name	Calderwood & Harkness LLP IOLA Trust Account
Account Number	4401-8827-6650
Date of Deposit	December 7, 2022
Amount Deposited	$150,000.00
Current Trust Account Balance Attributable to Matter 1034-00001	$150,000.00
Timekeeper	Role	Practice Group	Hourly Rate
Conrad Ashby	Partner (Billing Partner)	White Collar & Investigations	$1,350.00

Bernard Crawford	Partner (Responsible Partner)	Labor & Employment	$1,275.00
Daniel Obi	Associate	Banking & Finance	$825.00
Lisa Morrow	Associate	Banking & Finance	$675.00
Paralegal (various)	Paralegal	Various	$375.00

MEMORANDUM
INTERNAL / CONFIDENTIAL — TRUST ACCOUNT RECORDS
TO: Conrad Ashby, Billing Partner, White Collar & Investigations Practice Group, Calderwood & Harkness LLP
FROM: Office of the General Counsel / Trust Account Administration, Calderwood & Harkness LLP
CC: Bernard Crawford, Responsible Partner, Labor & Employment Practice Group, Calderwood & Harkness LLP; Lisa Morrow, Associate, Banking & Finance Practice Group, Calderwood & Harkness LLP
DATE: December 7, 2022
RE: Confirmation of Retainer Deposit — Matter No. 1034-00001 — Representation of Jonathan R. Caldwell (Grand Jury Subpoena Response)
1. Purpose
This memorandum confirms the receipt and deposit of the initial retainer payment in connection with Calderwood & Harkness LLP's representation of Jonathan R. Caldwell, as set forth in the engagement letter dated December 5, 2022 (the "Engagement Letter"), executed by Conrad Ashby (Billing Partner) and Bernard Crawford (Responsible Partner) on behalf of the firm, and countersigned by Mr. Caldwell on the same date. The Engagement Letter was received by Trust Account Administration, together with the original signature pages and attachments thereto, on December 6, 2022.
The retainer was required under the terms of the Engagement Letter as a condition precedent to the commencement of substantive work on behalf of Mr. Caldwell. Specifically, Section 4(a) of the Engagement Letter provides that the firm shall not undertake any substantive representation activities, including but not limited to the review and production of documents, the preparation of any correspondence to the U.S. Attorney's Office, or the making of any appearance before the grand jury on behalf of the client, until such time as the retainer has been received and confirmed as deposited in the firm's IOLA Trust Account.
The retainer was required in connection with Mr. Caldwell's response to a federal grand jury subpoena issued by the U.S. Attorney's Office for the Southern District of New York, Grand Jury No. 22-GJ-4481. The receipt and deposit of the retainer, as detailed herein, satisfies the condition set forth in the Engagement Letter, and the engagement team is now authorized to proceed with substantive work on the matter.
This memorandum is prepared for internal recordkeeping purposes and shall be maintained in the matter file and in the firm's central trust account records in accordance with firm policy and applicable rules of professional conduct.
2. Client and Matter Information
The following information has been verified against the Engagement Letter, the firm's conflicts clearance memorandum dated December 4, 2022, and the client intake questionnaire completed by Mr. Caldwell on December 3, 2022:
It is noted that while two associated entities are identified above, the Engagement Letter provides for the representation of Mr. Caldwell in his individual capacity only. Caldwell Capital Advisors LLC and JRC Realty Holdings LLC are identified solely for purposes of conflicts clearance and potential document custodian identification. Neither entity is a client of the firm in connection with this matter, and no attorney-client relationship has been established between the firm and either entity as of the date of this memorandum. Any future engagement relating to either associated entity would require a separate engagement letter, conflicts clearance, and retainer arrangement.
The assignment of Bernard Crawford as Responsible Partner reflects Mr. Crawford's pre-existing relationship with Mr. Caldwell in connection with employment-related advisory work performed for Caldwell Capital Advisors LLC in 2021 (Matter No. 1034-00001, now closed). Mr. Crawford's role in the present matter is supervisory and advisory; primary day-to-day responsibility for the representation rests with Conrad Ashby as Billing Partner.
3. Retainer Payment Details
The following sets forth the details of the retainer payment received by the firm:
The wire transfer was originated from Mr. Caldwell's personal checking account maintained at Greaves Bancorp The wire was received by the firm's depository bank on the morning of December 7, 2022, and was confirmed as cleared and available funds as of 11:42 a.m. Eastern Time on the same date. A copy of the wire transfer confirmation, including the originating bank reference number and the receiving bank reference number, is attached to this memorandum as Exhibit A and has been filed in the matter records.
Trust Account Administration confirms that the payor identified on the wire transfer — Jonathan R. Caldwell — is the same individual as the client identified in the Engagement Letter. No third-party payor issues arise in connection with this deposit. The firm's Anti-Money Laundering and Client Identification procedures have been satisfied in connection with the client intake process, as confirmed by the Office of the General Counsel on December 5, 2022.
4. Trust Account Deposit Information
The retainer payment has been deposited in the firm's IOLA Trust Account as follows:
The IOLA Trust Account referenced above is maintained in accordance with the New York Rules of Professional Conduct, Rule 1.15 ("Preserving Identity of Funds and Property of Others"), and applicable provisions of the New York Judiciary Law, including Judiciary Law § 497, governing Interest on Lawyer Account funds. The account is subject to regular audit and reconciliation by the firm's Finance Department, as well as periodic examination by the Lawyers' Fund for Client Protection of the State of New York, as required by applicable rules and regulations.
All client funds deposited in the IOLA Trust Account are segregated from the firm's operating funds. The trust account ledger maintained by the Finance Department reflects a sub-ledger entry for Matter No. 1034-00001, which records the deposit of $150,000.00 as of December 7, 2022. No other client funds are commingled with the funds attributable to this matter within the sub-ledger, and the aggregate balance of the IOLA Trust Account has been reconciled as of the date of this memorandum.
Interest earned on funds held in the IOLA Trust Account is remitted to the Lawyers' Fund for Client Protection in accordance with applicable law. No interest accrues to the benefit of the client or the firm on funds held in this account.
5. Application of Retainer
Pursuant to the terms of the Engagement Letter dated December 5, 2022, the retainer shall be held in trust and applied against professional fees and disbursements as they are incurred and invoiced to the client. The retainer constitutes an advance payment for services to be rendered and does not represent a flat fee, a minimum fee, or a non-refundable fee. To the extent that professional fees and disbursements incurred in connection with the matter are less than the retainer amount, the unused balance shall be refunded to the client promptly upon the conclusion of the representation, in accordance with Rule 1.15 of the New York Rules of Professional Conduct.
The applicable billing rates for the engagement team, as set forth in Section 3 of the Engagement Letter, are as follows:
The billing rates set forth above are the rates in effect as of the date of the Engagement Letter. As noted in Section 3(c) of the Engagement Letter, the firm reserves the right to adjust billing rates on an annual basis, with any such adjustment to take effect no earlier than January 1, 2024, and subject to prior written notice to the client. No rate adjustment is anticipated for the calendar year 2023.
Disbursements, including but not limited to e-discovery vendor costs, courier and overnight delivery charges, photocopying and document reproduction, travel expenses, court reporting and transcript fees, expert consulting fees (if applicable and pre-approved by the client), and other reasonable out-of-pocket expenses incurred in connection with the representation, will also be charged against the retainer balance. All disbursements will be itemized on the firm's monthly invoices.
Per Section 4(c) of the Engagement Letter, the client will be notified in writing when the retainer balance falls below $25,000.00 (Twenty-Five Thousand Dollars). Upon such notification, the client has agreed to replenish the retainer to the original amount of $150,000.00 within fifteen (15) business days of receipt of the firm's written request. Failure to replenish the retainer within the specified period may, at the firm's sole discretion and subject to applicable ethical obligations, constitute grounds for withdrawal from the representation in accordance with Rule 1.16 of the New York Rules of Professional Conduct.
Invoices will be prepared and issued on a monthly basis by the firm's Billing Department, subject to review and approval by the Billing Partner, Conrad Ashby, prior to issuance. Funds will be withdrawn from the trust account only upon issuance of an approved invoice and only in the amount of the approved charges reflected thereon.
6. Engagement Context
For purposes of contextualizing the trust account records and providing background for the matter file, the following summary of the engagement context is provided. This summary is drawn from the Engagement Letter, the client intake memorandum, and initial discussions between the engagement team and the client.
Mr. Caldwell was personally served on November 21, 2022, with a federal grand jury subpoena dated November 18, 2022, issued in connection with Grand Jury No. 22-GJ-4481, convened in the U.S. District Court for the Southern District of New York. The subpoena was issued by the U.S. Attorney's Office for the Southern District of New York, located at One St. Andrew's Plaza (with an additional mailing address at 500 Pearl Street), New York, NY 10007. The subpoena commands Mr. Caldwell to produce certain documents and records and to appear before the grand jury to give testimony.
The original return date of the subpoena is December 9, 2022. As of the date of this memorandum, the engagement team has been in communication with the assigned Assistant United States Attorney to request an extension of the return date. The extension request is pending, and the engagement team anticipates that an adjournment of at least thirty (30) days will be granted, consistent with customary practice in the Southern District. Trust Account Administration will update this memorandum or issue a supplemental memorandum if the return date affects the timing of trust account activity.
Based on the information provided by the client and reflected in the Engagement Letter, Mr. Caldwell is a witness — not a target or subject — in connection with a federal investigation. The investigation relates to the business activities of Mr. Caldwell's former business associate, Marcus W. Stavros, and an entity controlled by Mr. Stavros known as Aegean Realty Partners LLC. The specific nature of the investigation, the statutory provisions at issue, and the scope of the documents sought by the subpoena are addressed in the engagement team's privileged work product and are not set forth in this memorandum. This memorandum is limited to trust account administration matters and does not constitute, and should not be construed as, legal advice, a case assessment, or a privileged communication regarding the substance of the representation.
7. Trust Account Administration Notes
The following administrative notes are provided for the record and for the guidance of the engagement team and the Finance Department:
1.  Ledger Entry. The trust account deposit of $150,000.00 has been recorded in the firm's trust account ledger under Matter No. 1034-00001. The ledger entry reflects the date of deposit (December 7, 2022), the amount deposited, the source of funds (wire transfer from client's personal account), and the current balance attributable to the matter. The ledger will be updated on a rolling basis as invoices are issued and funds are withdrawn.
2.  Wire Transfer Confirmation. A copy of the wire transfer confirmation, including the originating bank's Fedwire reference number, is attached to this memorandum as Exhibit A and has been filed in both the matter file and the central trust account records maintained by the Finance Department. The original confirmation is retained by the Finance Department.
3.  Withdrawal Authorization. All withdrawals from the IOLA Trust Account attributable to Matter No. 1034-00001 will be made only upon the issuance of invoices that have been reviewed and approved by the Billing Partner, Conrad Ashby. No withdrawal may be made absent a corresponding approved invoice. In the event that Mr. Ashby is unavailable to review and approve an invoice, approval authority may be delegated to the Responsible Partner, Bernard Crawford, in accordance with the firm's Trust Account Policies and Procedures Manual (revised September 2022), Section 5.3.
4.  Reconciliation. Periodic trust account reconciliation reports will be prepared by the Finance Department and maintained in the central trust account records in accordance with firm policy and the requirements of the New York Rules of Professional Conduct, Rule 1.15(d). Reconciliation reports are prepared on a monthly basis, or more frequently as circumstances warrant. A copy of each reconciliation report reflecting activity attributable to Matter No. 1034-00001 will be provided to Trust Account Administration for review and retention.
5.  Client Notification. In accordance with the Engagement Letter and Rule 1.15(c)(4) of the New York Rules of Professional Conduct, the client shall be promptly notified upon each withdrawal of funds from the trust account. Such notification shall be provided in writing, typically in the form of the monthly invoice and accompanying trust account statement. The client shall also be notified in writing when the retainer balance falls below the replenishment threshold of $25,000.00, as described in Section 5 of this memorandum.
6.  Refund of Unused Funds. Upon conclusion of the representation, any unused balance of the retainer shall be refunded to the client within a reasonable time, and in no event later than the time period prescribed by the New York Rules of Professional Conduct. The refund shall be made by check or wire transfer to the client's account of record, as directed by the client in writing.
8. Distribution and Filing
This memorandum and all supporting documentation, including the wire transfer confirmation (Exhibit A), shall be maintained in the following locations:
•  Matter File: 1034-00001, maintained by the White Collar & Investigations Practice Group, with file management responsibility assigned to Lisa Morrow, Associate.
•  Central Trust Account Records: Maintained by the Finance Department, Trust Account Administration, Calderwood & Harkness LLP, 450 Park Avenue, 30th Floor, New York, NY 10022.
Copies of this memorandum have been distributed to the following individuals:
1.  Conrad Ashby — Billing Partner, White Collar & Investigations Practice Group
2.  Bernard Crawford — Responsible Partner, Labor & Employment Practice Group
3.  Lisa Morrow — Working Associate / File Management, Banking & Finance Practice Group
4.  Finance Department — Trust Account Administration
This memorandum is designated INTERNAL / CONFIDENTIAL — TRUST ACCOUNT RECORDS and is intended solely for use by the individuals and departments identified above. It should not be distributed to the client or to any third party without the prior approval of the Office of the General Counsel.
9. Confirmation
Prepared by: Trust Account Administration Office of the General Counsel Calderwood & Harkness LLP 450 Park Avenue, 30th Floor New York, NY 10022
Confirmed by:
________________________________________
Margaret T. Kellner Trust Account Administrator, Finance Department Calderwood & Harkness LLP
Date: December 7, 2022
Enclosure: Exhibit A — Wire Transfer Confirmation (December 7, 2022)
This memorandum is an internal administrative record of Calderwood & Harkness LLP and is prepared for trust account recordkeeping purposes only. It does not constitute legal advice, a case assessment, or a privileged communication regarding the substance of the representation of Jonathan R. Caldwell. All substantive communications regarding the representation are maintained separately in the privileged and confidential work product files for Matter No. 1034-00001.
Field | Detail
Client | Jonathan R. Caldwell
Client Residence | 1140 Park Avenue, Apt. 14C, New York, NY 10128
Client SSN (Last 4) | XXX-XX-7283
Associated Entity (1) | Caldwell Capital Advisors LLC (EIN: 83-2174056)
Associated Entity (2) | JRC Realty Holdings LLC (EIN: 81-4493217)
Client Business Address | 590 Madison Avenue, 22nd Floor, New York, NY 10022
Matter Number | 1034-00001
Matter Description | Representation of Jonathan R. Caldwell in connection with response to Grand Jury Subpoena, Grand Jury No. 22-GJ-4481, U.S. District Court for the Southern District of New York
Billing Partner | Conrad Ashby, White Collar & Investigations Practice Group
Responsible Partner | Bernard Crawford, Labor & Employment Practice Group
Field | Detail
Amount Received | $150,000.00 (One Hundred Fifty Thousand Dollars)
Form of Payment | Wire transfer from client's personal bank account
Date of Receipt | December 7, 2022
Payor | Jonathan R. Caldwell
Field | Detail
Depository Bank | Northern Capital Bank, N.A.
Account Name | Calderwood & Harkness LLP IOLA Trust Account
Account Number | 4401-8827-6650
Date of Deposit | December 7, 2022
Amount Deposited | $150,000.00
Current Trust Account Balance Attributable to Matter 1034-00001 | $150,000.00
Timekeeper | Role | Practice Group | Hourly Rate
Conrad Ashby | Partner (Billing Partner) | White Collar & Investigations | $1,350.00
Bernard Crawford | Partner (Responsible Partner) | Labor & Employment | $1,275.00
Daniel Obi | Associate | Banking & Finance | $825.00
Lisa Morrow | Associate | Banking & Finance | $675.00
Paralegal (various) | Paralegal | Various | $375.00

MEMORANDUM

Record

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Dates

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