Legg Mason Inc. Business Contract

Legg Mason Inc.

• Employment Offer Letter - Legg Mason, Inc. (Feb 13, 2012)
• Performance Unit Award Agreement - Legg Mason, Inc. (Feb 13, 2012)
• Articles of Incorporation - Legg Mason Inc. (Feb 13, 2012)
• Securities Purchase Agreement - Level 3 Communications Inc., Longleaf Partners Fund, Longleaf Partners Small-Cap Fund, Legg Mason Special Investment Trust Inc., Legg Mason Investment Trust Inc. and Berkshire Hathaway Inc. (Oct 17, 2009)
• Severance Agreement and Release of Claims - Legg Mason, Inc. (Feb 13, 2012)
• Investment Agreement - Level 3 Communications Inc., Longleaf Partners Fund, Longleaf Partners Small-Cap Fund, Legg Mason Special Investment Trust Inc., Legg Mason Investment Trust Inc. and National Indemnity Co. (Oct 17, 2009)