Subject: Options


Mr. Lay:  First, I want to say that I've been a dedicated employee of Enron for 9 yea= rs now and, looking back over that time, it's been the greatest period of m= y life, career-wise.
When I first went to work for Enron, I was almost sta= rry eyed.
I was working for the home town team and it was just the greates= t company I had ever been associated with.
I started out with Enron Power = Corp. and the energy and focus within that group was just incredible.
I've seen a lot of change over the past 9 years.
Some great, some good and=  some not so good.
But all in all, I would do it all over again in a heart=  beat, because I still trust in the core of this company and decisions our = management have made.
But most of all, we've still got great people.
Base= d on the current events of the past 3 to 6 months, it does indeed look like=  we are going to have to "do it all over again".
However, I am an eternal = optimist.
Looking at this in football terms...  this is a rebuilding year = and we've got a bright future with a young team and a deep bench.
One thing I always hung my hat on was the integrity that both you and Rich = Kinder exuded.
I was saddened to see Mr. Kinder move on, but I was confide= nt that having you remain behind would continue our successes.
And we have=  been successful.
Aside from the LJM issue (which, to be honest, I still d= on't fully understand), I think we've just had some external distractions t= hat have hampered our stock growth this year, such as Dabhol, Portland Gene= ral, California, etc., in addition to the market conditions in general.
=20  In the all-employee meeting, you told the troops that it was going to take = the continued dedication and hard work from all of us to get things going i= n the right direction in order for us to dig out from this mess.
I am full= y prepared to do this, however, there is one request I would like to bring = up.
I know I am not the only person out there who has options that are goi= ng to expire at the end of this year.
In all my wildest dreams (or nightma= res), I would have never envisioned the stock getting low enough to threate= n a grant price of $21.563, but here we are.
As a dedicated and confident = employee, I hung in there early in the year and listened to all indications=  around me that the stock would go to 100.
Later in the year, as the stock=  moved downward, I heard indications that we were going to bounce back stro= ng.
I was on board.
I was excited.
I trusted that this was the case.
In=  fact, I look back on this past year and, based on what I knew at the time,=  I would probably do the same thing over again.
But...   that was then and this is now.
It has been painful for me, as I k= now it has been for you and all others with a stake in this company.
I wan= t to get us back to our heyday and am willing to commit to that end.
=20  My request is simple...    is there any way possible to extend options expi= ring at the end of this year by one year?
If you want to make a good faith gesture towards long-time employees who ar= e willing to re-dedicate themselves to the daunting task at hand, I can thi= nk of nothing better for the short term.
I think extending the expiration=  date on options would go a long way towards healing an Enron employee popu= lation who need some good news in the midst of this situation we find ourse= lves in.
=20  If you can't do anything, I will understand.
I know your office has always=  had an open door policy with respect to e-mail feedback, but this is the f= irst one I've ever written.
I always contend that it never hurts to ask in=  a situation like this.
Mark