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Jared Kaplan, Mr. ESOP

Jared Kaplan, distinguished Chicago lawyer and long-time partner
at McDermott, Will & Emery died of cancer at home on December 12, 2020. Mr.
Kaplan was one of the first corporate lawyers who used the Employee Stock
Ownership Plan, authorized by the Employee Retirement Income Security Act of
1974, as a means of doing corporate mergers and acquisitions. After
engineering an ESOP for Cargill Incorporated in 1991-1992, a deal of about
750 million dollars, he became known in the profession as "Mr. ESOP."

He went on to represent the Pilots Union which initiated an ESOP
transaction in 1993-1994 with United Airlines, which led to the employees
using an ESOP to purchase a controlling interest in the airline, which
continued to be publicly owned.

Known as Jerry, Jared Kaplan was born in Chicago, and raised in
Glencoe, Ill. He graduated from New Trier High School in 1956, University of
California at Los Angeles in 1960 and Harvard Law School in 1963. He
returned to Chicago and became a partner in the law firm Ross & Hardies and
then Grossman Singer Mauck & Kaplan and went on to help steer McDermott,
Will & Emery where he remained for 23 years, from 1994-2017. He was annually
listed as a leading lawyer in numerous national rating and listing services,
including Martindale-Hubbell, Best Lawyers in America and the National Law
Journal.

One of Kaplan's former law partners early in his career was
Kirkland & Ellis, LLP lawyer William Singer. "He was an outstanding lawyer,"
Singer recalled. "When we started GSM & K, Jerry was the glue that brought
us together as a serious law firm, able to do major tax and corporate work."

His passion was the intricacy of corporate and tax law. Jim
Kaplan, his youngest brother and a lawyer at Quarles & Brady LLP, said:
"Jared was an important figure in the development of corporate law. He
entered it in 1963, just as it was beginning to assume outsized importance.
He came of age when the legal profession grew vastly in size and influence,
especially in his case by advising on corporate expansion through merger and
acquisition."

An avid global traveler with his wife Maridee Quanbeck, Jerry
was truly a Renaissance man: He loved politics, art, music, theater and
travel. He traveled with the Chicago Symphony Orchestra, the Art Institute
of Chicago and the Frank Lloyd Wright Trust. He supported those
organizations and many others, including Music of the Baroque, the Lyric
Opera of Chicago, the Grant Park Music Festival, the Museum of Contemporary
Art and the Chicago Architecture Foundation. He tried to get to New York
and London at least once a year to see plays and attend museums.

Though he started his professional life as a Republican, he
gradually migrated to the Democratic Party and remained interested in
foreign affairs as a member of the Chicago Council on Global Affairs. As one
who challenged conventional wisdom, Kaplan was National President of the
Ripon Society, a group of liberal and moderate Republicans, 1975-1976. He
served as an Advisory Council member of the Republican National Committee,
1978-1980, and an alternate delegate to the Republican National Convention
in 1980.

He is survived by Maridee Quanbeck. In addition, he is survived
by his first wife Rosellen Monter (William), his sons Brian and Philip
Kaplan (Kyla Klein) and their children Malcolm and Asha, brother Jonathan
(Sara) and James (Elizabeth Taylor) and predeceased by his brother Joel.

Those who wish to make a donation should do so to the charity of
their choice in Jerry's name.

Please visit JARED KAPLAN BOOK OF MEMORIES. To express your
thoughts or memories in the online guest book, www.chapelc.com
<http://www.chapelc.com> or facebook.com/centralchapel. Arrangements by
CENTRAL CHAPELS-Chicago. Info., 773-581-9000.