<SEC-DOCUMENT>0001193125-15-354832.txt : 20151027
<SEC-HEADER>0001193125-15-354832.hdr.sgml : 20151027
<ACCEPTANCE-DATETIME>20151027170200
ACCESSION NUMBER:		0001193125-15-354832
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20151027
DATE AS OF CHANGE:		20151027
EFFECTIVENESS DATE:		20151027

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CASELLA WASTE SYSTEMS INC
		CENTRAL INDEX KEY:			0000911177
		STANDARD INDUSTRIAL CLASSIFICATION:	REFUSE SYSTEMS [4953]
		IRS NUMBER:				030338873
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23211
		FILM NUMBER:		151178405

	BUSINESS ADDRESS:	
		STREET 1:		25 GREENS HILL ROAD
		CITY:			RUTLAND
		STATE:			VT
		ZIP:			05701
		BUSINESS PHONE:		8027750325

	MAIL ADDRESS:	
		STREET 1:		25 GREENS HILL ROAD
		CITY:			RUTLAND
		STATE:			VT
		ZIP:			05701
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d15888ddefa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML><HEAD>
<TITLE>DEFA14A</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Proxy
Statement Pursuant to Section&nbsp;14(a) of the </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Amendment No. &nbsp;&nbsp;&nbsp;&nbsp;) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the Registrant&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by a Party other than the Registrant&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Preliminary Proxy Statement </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><B>Confidential, For Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B> </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Definitive Proxy Statement </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Definitive Additional Materials </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting Material Pursuant to &#167;240.14a-12 </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>CASELLA WASTE SYSTEMS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified in Its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Copies to: </I></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Jeffrey A. Stein</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Wilmer Cutler Pickering Hale and Dorr LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 State Street</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Boston,
Massachusetts 02109</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(617) 526-6000</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Keith E. Gottfried, Esq.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Morgan, Lewis &amp; Bockius LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1111 Pennsylvania Avenue, N.W.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Washington, DC 20004-2541</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(202)
739-5947</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check the appropriate box): </P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></TD>
<TD ALIGN="left" VALIGN="top">No fee required. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Title of each class of securities to which transaction applies: </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">Aggregate number of securities to which transaction applies: </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top">Proposed maximum aggregate value of transaction: </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top">Total fee paid: </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Fee paid previously with preliminary materials: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Amount previously paid: </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">Form, Schedule or Registration Statement No.: </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top">Filing Party: </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top">Date Filed: </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Casella Waste Systems, Inc., a Delaware corporation (&#147;<U>Casella</U>&#148; or the
&#147;<U>Company</U>&#148;), is filing materials contained in this Schedule 14A with the U.S. Securities and Exchange Commission (&#147;<U>SEC</U>&#148;) in connection with the solicitation of proxies from its stockholders in connection with its
2015 Annual Meeting of Stockholders to be held on Friday, November&nbsp;6, 2015, and at any and all adjournments or postponements thereof (the &#147;<U>2015 Annual Meeting</U>&#148;). On September&nbsp;22, 2015, Casella filed with the SEC its
definitive proxy statement and accompanying definitive <B><U>WHITE</U></B> proxy card in connection with its solicitation of proxies to be used at the 2015 Annual Meeting. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Letter to Stockholders&nbsp;First Used on October&nbsp;27, 2015 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attached hereto is a letter dated October&nbsp;27, 2015 that Casella is mailing to stockholders, together with a<B><U>&nbsp;WHITE</U></B>&nbsp;proxy card, in
which Casella (i)&nbsp;discusses the report issued by Institutional Shareholder Services Inc. (ISS), a leading independent third-party proxy advisory firm, recommending to its clients that are Casella stockholders that they vote the
<B><U>WHITE</U></B> proxy card <B>FOR ALL</B> three of Casella&#146;s director nominees &#150; <B>John W. Casella, William P. Hulligan and James E. O&#146;Connor</B> &#150; standing for election at the 2015 Annual Meeting; and (ii)&nbsp;makes other
comments in connection with the proxy contest by JCP Investment Partnership, LP (&#147;<U>JCP</U>&#148;) and the other participants in its solicitation with respect to the 2015 Annual Meeting. As previously announced, JCP and the other participants
in its solicitation are pursuing a proxy contest to elect two nominees to the Casella Board of Directors at the 2015 Annual Meeting. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Important
Information And Where To Find It </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Casella, its directors and certain of its executive officers are deemed to be participants in the solicitation of
proxies from Casella&#146;s stockholders in connection with the matters to be considered at Casella&#146;s 2015 Annual Meeting of Stockholders. On September&nbsp;22, 2015, Casella filed a definitive proxy statement and accompanying definitive
<B><U>WHITE</U></B> proxy card with the Securities and Exchange Commission (&#147;<U>SEC</U>&#148;) in connection with the solicitation of proxies from Casella stockholders in connection with the matters to be considered at Casella&#146;s 2015
Annual Meeting of Stockholders. Information regarding the identity of participants, and their direct or indirect interests, by security holdings or otherwise, is set forth in such definitive proxy statement, including the schedules and appendices
thereto. INVESTORS AND STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT, THE ACCOMPANYING <B><U>WHITE</U></B> PROXY CARD AND OTHER DOCUMENTS FILED BY CASELLA WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS
THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain the definitive proxy statement, any amendments or supplements to the definitive proxy statement, the accompanying definitive <B><U>WHITE</U></B> proxy card, and any other documents
filed by Casella with the SEC for no charge at the SEC&#146;s website at www.sec.gov. Copies are also available at no charge at the Investor Relations section of Casella&#146;s corporate website at www.casella.com, by writing to Casella&#146;s
Corporate Secretary at Casella Waste Systems, Inc., 25 Greens Hill Lane, Rutland, VT 05701, or by calling Casella&#146;s Corporate Secretary at (802)&nbsp;772-2257. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LETTER TO STOCKHOLDERS&nbsp;DATED OCTOBER 27, 2015 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g15888g26z25.gif" ALT="LOGO">
 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><FONT COLOR="#ffffff"><B>VOTE THE <U>WHITE</U> PROXY CARD
FOR</B></FONT></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><FONT COLOR="#ffffff"><B>ALL OF CASELLA&#146;S HIGHLY QUALIFIED BOARD NOMINEES</B></FONT></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">October&nbsp;27, 2015 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear
Fellow Casella Stockholder: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>YOUR VOTE ON THE <U>WHITE</U> PROXY CARD IS NEEDED TO KEEP US MOVING FORWARD </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This has been a very exciting year for Casella Waste Systems, Inc. Over the past two and a half years, we have achieved significant progress and momentum
executing our strategy, strengthening our management team, simplifying and streamlining our business, reducing our exposure to risk, and positioning Casella for long-term growth and profitability. Those efforts have resulted in demonstrable
improvements in our financial performance and operating results. In recent months, we have been able to share a number of very exciting developments with you, including our recent third quarter results, the additions to your Board of Directors of
waste management industry veterans William P. Hulligan and James E. O&#146;Connor and the appointment of James E. O&#146;Connor as your Board&#146;s Lead Independent Director. Each of these announcements are examples of Casella both executing on its
key initiatives and listening to, valuing and acting upon input from our stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">However, as many of you are likely aware, JCP Investment
Management, LLC (&#147;JCP&#148;), which is led by activist investor James C. Pappas, is seeking to disrupt our strategic trajectory and momentum by conducting a costly and distracting proxy contest. JCP is seeking to elect two handpicked director
candidates, including Mr.&nbsp;Pappas, who has absolutely no experience in the waste management industry, to your Board at our upcoming 2015 Annual Meeting in opposition to the highly qualified and very experienced nominees unanimously recommended
by your Board. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>IMPORTANT BREAKING NEWS! </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LEADING INDEPENDENT THIRD-PARTY PROXY ADVISORY FIRM ISS RECOMMENDS THAT STOCKHOLDERS VOTE THE <U>WHITE</U> PROXY CARD <U>FOR ALL</U> OF
CASELLA&#146;S DIRECTOR NOMINEES </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Despite this unnecessary distraction from JCP, which only began accumulating its current holdings in Casella in May
2014, we are extremely pleased to inform you that Institutional Shareholder Services Inc. (&#147;ISS&#148;), the leading independent third-party proxy advisory firm, has recommended that Casella stockholders vote the <B><U>WHITE</U></B> proxy card
<B><U>FOR ALL</U></B> three of Casella&#146;s highly qualified and very experienced director nominees &#150; <B><U>John W. Casella, William P. Hulligan and James E. O&#146;Connor</U></B> &#150; standing for election at the 2015 Annual Meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ISS is globally recognized as the premier independent proxy advisory firm with a marquee list of clients, including very prominent institutional investors,
mutual funds, pension funds, and other fiduciaries. ISS conducts its own research, speaks separately with each party involved in a proxy contest, and ultimately comes to a conclusion as to which director candidates and which proxy card it believes
its clients should vote. In our case, after carefully reviewing the voting alternatives, ISS has recommended that Casella stockholders vote the <B><U>WHITE</U></B> proxy card for all three of Casella&#146;s highly qualified and very experienced
director nominees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ISS&#146; report indicates that ISS carefully considered Casella&#146;s substantial progress over the past two and half years in
improving its financial and operating performance, refreshing its board of directors, enhancing its corporate </P>

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governance practices and pursuing strategic initiatives to drive increased stockholder value. Specifically, ISS noted the following in its October&nbsp;24, 2015 report: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>&#147;The dissident [JCP] has not made a compelling case that further change to the board continues to be warranted at this time.&#148; </I></TD></TR></TABLE>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>&#147;The two most recent additions [William P. Hulligan and James E. O&#146;Connor], both within the past year, appear to reflect the board&#146;s commitment to chart a new course, in part, by adding credible
industry expertise to the independent directors.&#148; </I></TD></TR></TABLE>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>&#147;The current board appears to have made meaningful effort to put the company back onto a more promising path, including through reshuffling management, reassessing pricing structures, divesting underperforming
assets, cost controls and focus on operational efficiency. Casella&#146;s most recent financial results also appear to support the board&#146;s assertions that its strategy is yielding improvements.&#148; </I></TD></TR></TABLE>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>&#147;The risk of derailing the recent improvements overseen by the current board appears to outweigh the potential benefits of injecting additional, but potentially duplicative new perspective to the board.&#148;
</I></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The recommendation from ISS that our stockholders should vote the <B><U>WHITE</U></B> proxy card for all our highly qualified and very
experienced director nominees is another example of how third parties are taking notice of the progress that Casella has made in charting a new course and demonstrating improvements in its financial and operating performance. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CASELLA ANNOUNCES FINANCIAL RESULTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2015 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEMONSTRATING IMPROVED FINANCIAL RESULTS DRIVEN BY STRONG EXECUTION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On October&nbsp;23, 2015, Casella reported results for the three-month period ended September&nbsp;30, 2015, and demonstrated that it continues to execute
well against key strategies driving improved financial and operating performance. Third quarter financial achievements included the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Revenues were $146.2 million for the third quarter, up $4.3 million, or 3.0%, from the same period in 2014. Revenues year-to-date were $406.5 million, up $14.1 million, or 3.6%, from the same period in 2014.
</B></TD></TR></TABLE>
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<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Operating income for the third quarter was $12.7 million, up $2.1 million, or 19.5%, from the same period in 2014. Operating income year-to-date was $27.2 million, up $20.7 million, or 319.5%, from the same period in
2014. </B></TD></TR></TABLE>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left"><B>&#149;</B></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B>Net income attributable to common stockholders was $2.3 million, up $1.2 million, or 112.6%, from the same period in 2014. </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These results are a testament to the relentless hard work and dedication from our employees as well as our entire Board and senior management team. We are
pleased that we have continued to improve across our key operating and financial metrics and hope to maintain this momentum as 2015 comes to a close. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUPPORT YOUR BOARD&#146;S HIGHLY QUALIFIED NOMINEES BY VOTING THE WHITE PROXY CARD TODAY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B></B>The upcoming Annual Meeting, which is only ten days away, is a significant event that could determine the future of Casella. <B>Your vote is crucial
&#150; no matter how many shares you own &#150; please vote today. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Whether or not you plan to attend the Annual Meeting, we urge you to sign, date
and return the enclosed <B><U>WHITE</U></B> proxy card in the postage-paid envelope provided and vote <B><U>FOR ALL</U></B> your Board&#146;s highly qualified and very experienced nominees &#150; <B><U>John W. Casella, William P. Hulligan and James
E. O&#146;Connor</U></B>. You may also vote by telephone or Internet by following the instructions on the enclosed <B><U>WHITE</U></B> proxy card. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We
also urge you to discard any proxy card or voting instruction form you may receive from JCP. Even a WITHHOLD vote with respect to JCP&#146;s nominees on its proxy card will cancel any proxy previously given to Casella. If you
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>VOTE THE <U>WHITE</U>
PROXY CARD TODAY!</B> </P>
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previously signed a proxy card sent to you by JCP, you can revoke that proxy card and vote for your Board&#146;s recommended nominees by voting a new <B><U>WHITE</U></B> proxy card. Only your
latest-dated proxy card will count. Your Board encourages you to vote each <B><U>WHITE</U></B> proxy card you receive. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of your Board of
Directors, we thank you for your continued support of Casella and hope to see you at next week&#146;s Annual Meeting of Stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Sincerely, </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">John W. Casella</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Chairman &amp; CEO</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">James E. O&#146;Connor</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Lead Independent Director</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><div style="width:100%;margin-left:0%; margin-right:0%;border:solid 1.00pt;padding-top:2pt;padding-bottom:3pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; padding-top:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>If you have any questions, require additional copies of Casella&#146;s proxy materials or need assistance in voting your
<U>WHITE</U> proxy card, please contact our proxy solicitor at the phone numbers or email listed below: </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">105 Madison Avenue </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, New York 10016 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(212)
929-5500 (Call Collect) or Call Toll-Free (800)&nbsp;322-2885 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; padding-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Email: proxy@mackenziepartners.com </P></div>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain matters discussed in
this letter, including, but not limited to, the statements regarding preliminary financial results, are &#147;forward-looking statements&#148; intended to qualify for the safe harbors from liability established by the Private Securities Litigation
Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as &#147;believe,&#148; &#147;expect,&#148; &#147;anticipate,&#148; &#147;plan,&#148; &#147;may,&#148;
&#147;would,&#148; &#147;intend,&#148; &#147;estimate,&#148; &#147;guidance&#148; and other similar expressions, whether in the negative or affirmative. Similarly, statements that describe the objectives, plans or goals of Casella are
forward-looking. Such forward-looking statements include, but are not limited to, statements regarding the anticipated proxy contest by JCP Investment Management, LLC and the other participants in its solicitation, Casella&#146;s initiatives to
improve Casella&#146;s performance and increase its growth and profitability, Casella&#146;s future operational and financial performance, Casella&#146;s actions taken or contemplated to enhance its long-term prospects and enhance value for its
stockholders, Casella&#146;s efforts to execute on and implement its strategic plan, Casella&#146;s plans to simplify its business structure, Casella&#146;s actions taken or contemplated with respect to corporate and board governance, Casella&#146;s
plans to improve its cash flows and reduce its risk exposure by divesting or closing operations that do not fit within its core strategy, Casella&#146;s plans to strengthen its balance sheet, promote financial flexibility and position Casella to
achieve its target growth trajectory and Casella&#146;s plans to achieve its three (3)&nbsp;year financial objectives and to drive additional value creation for the benefit of all its stockholders. These forward-looking statements are based on
current expectations, estimates, forecasts and projections and management&#146;s current beliefs and assumptions </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>VOTE THE <U>WHITE</U>
PROXY CARD TODAY!</B> </P>
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and, accordingly, are not guarantees of future performance. Such forward-looking statements, and all phases of Casella&#146;s operations, involve a number of risks and uncertainties, any one or
more of which could cause actual results to differ materially from those described in Casella&#146;s forward-looking statements. There are a number of important risks and uncertainties that could cause Casella&#146;s actual events to differ
materially from those indicated or implied by such forward-looking statements. These additional risks and uncertainties include, without limitation, risks related to the actions of JCP and other activist stockholders, including the amount of related
costs incurred by Casella and the disruption caused to Casella&#146;s business activities by these actions and those risks detailed in Item&nbsp;1A, &#147;Risk Factors&#148; in Casella&#146;s Form 10-KT for the transition period ended
December&nbsp;31, 2014, in its Form 10-Q for the quarterly period ended September&nbsp;30, 2015 and in its subsequent filings with the Securities and Exchange Commission (&#147;<U>SEC</U>&#148;). Accordingly, you should not rely upon forward-looking
statements as a prediction of actual results. Casella undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Important Information And Where To Find It </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Casella, its
directors and certain of its executive officers are deemed to be participants in the solicitation of proxies from Casella&#146;s stockholders in connection with the matters to be considered at Casella&#146;s 2015 Annual Meeting of Stockholders. On
September&nbsp;22, 2015, Casella filed a definitive proxy statement and accompanying&nbsp;definitive <B><U>WHITE</U></B>&nbsp;proxy card with the <U>SEC</U> in connection with the solicitation of proxies from Casella stockholders in connection with
the matters to be considered at Casella&#146;s 2015 Annual Meeting of Stockholders. Information regarding the identity of participants, and their direct or indirect interests, by security holdings or otherwise, is set forth in such definitive proxy
statement, including the schedules and appendices thereto.<B>&nbsp;INVESTORS AND STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT, THE ACCOMPANYING <U>WHITE</U> PROXY CARD AND OTHER DOCUMENTS FILED BY CASELLA WITH THE SEC CAREFULLY
AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION.</B>&nbsp;Stockholders may obtain the definitive proxy statement, any amendments or supplements to the definitive proxy statement, the
accompanying&nbsp;definitive <B><U>WHITE</U></B>&nbsp;proxy card, and any other documents filed by Casella with the SEC for no charge at the SEC&#146;s website at www.sec.gov. Copies are also available at no charge at the Investor Relations section
of Casella&#146;s corporate website at www.casella.com, by writing to Casella&#146;s Corporate Secretary at Casella Waste Systems, Inc., 25 Greens Hill Lane, Rutland, VT 05701, or by calling Casella&#146;s Corporate Secretary at (802)&nbsp;772-2257.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>VOTE THE <U>WHITE</U>
PROXY CARD TODAY!</B> </P>
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