0001104659-08-015741 Sample Contracts

March 4, 2008
Cowen Group, Inc. • March 6th, 2008 • Security brokers, dealers & flotation companies • New York

We are pleased to confirm our offer to continue your employment with Cowen Group, Inc. (“Cowen” or the “Company”) based upon the terms and conditions set forth below, effective as of the date hereof (the “Effective Date”). We look forward to continuing a mutually beneficial professional relationship. As more fully set forth below, this agreement (the “Agreement”) shall supersede any and all prior employment agreements and letters concerning your employment with Cowen.

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March 4, 2008
Cowen Group, Inc. • March 6th, 2008 • Security brokers, dealers & flotation companies • New York

This letter shall constitute your agreement (“Agreement”) relating to your employment with Cowen Group, Inc. (including any successor entity or its holding company, collectively “Cowen,” or the “Company”), as a Senior Advisor (your “Employment”), effective as of March 4, 2008. As set forth more fully below, the Agreement shall supersede any and all prior employment agreements and letters relating to your employment with Cowen.

March 4, 2008
Cowen Group, Inc. • March 6th, 2008 • Security brokers, dealers & flotation companies • New York

This Agreement (the “Agreement”) contains the terms and conditions of your resignation as Chief Executive Officer and President of Cowen Group, Inc., including all titles and positions you may hold with any subsidiaries and/or affiliates (“Cowen” or the “Company”), effective as of March 4, 2008 (the “Effective Date”). As set forth more fully below, this agreement (the “Agreement”) shall supersede any and all prior employment agreements and letters relating to your current employment with Cowen.

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