Here is an email: Jeff, We talked about my joining HPL after the sale was consummated several weeks ago. You had indicated that you would work up some information and send it to me. Is it ready? Gary Prescott and I have verbally agreed to a level of compensation which I understand you are working into a document. He has also assured me that I will be credited with my initial start date which is March 9, 1967 and be fully vested in the various benefit, retirement and vacation plans. Can you confirm this? Enron has indicated that since I am over 55, I will be fully vested in any unvested options, however, all of my options will need to be exercised on the earlier of the original expiration date or a date that is 3 years from the time I leave Enron's employment. They indicated that it makes no difference if I retire or terminate. I can see no benefit in retirement from Enron because I am currently vested in the savings plan which I will roll over to an investment account when I leave Enron and I see no reason to sign up for the Enron Retirement Health Benefits because AEP appears to have a similar retirement health benefit plan. Isn't this the case? Please respond at your earliest opportunity so that I can better understand how I need to approach Enron concerning my possible departure from Enron for a career opportunity with HPL.
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Houston Pipe Line Company