IN: 1. Be sure to verify that the underlying contracts do not allow cherry picking under any default scenario. If it does, amend the express language. 2. We have made 2 changes to the netting agreement forms on the basis of further review by Leslie Hansen of some provisions in our trading forms. The first change is in paragraph 2(a) to clarify the definition of Default. The second change is in paragraph 14(b) to delete the day limitation on claims of Force Majeure. We feel this should not be included in any physical contract that will be included in a master netting agreement, especially because of the current international situation and security concerns. See attached reline version to read the changes. 3. No changes have been made to the Collateral Annex. 4. Attached below are the new forms. Rather than continue with forms with and without the user notes, I put the user notes in a separate document. They are not at the back of the forms. Simpler. The attached forms are Master Netting & Security Agmnt 10 h a v1 (to use without collateral annex) and Master Netting & Security Agmnt 10 h v1 (to use with collateral annex).

Generate a subject line.

OUT: FORM CHANGES: READ

IN: Please respond to Sivy on Stocks SIVY ON STOCKS from money.com April 20, 2001 Bigger is better Tech stocks are coming back, and giants that dominate important markets are likely to lead the advance. At the forefront of that group is Microsoft, as the company's latest earnings report shows. By Michael Sivy "It may be that the race is not always to the swift, nor the battle to the strong -- but that is the way to bet," said Damon Runyon, whose short

Generate a subject line.

OUT: Sivy on Stocks: Bigger is better

IN: Attached is a preliminary draft of the letter prepared by Gibbs & Bruns notifying TVA of the occurrence of a Triggering Event and EMPI's suspension of deliveries under the MOPA. Please review and call me with any questions or comments. We will need to carefully consider EPMI's offer to provide energy under the MOPA at market based rates. As you are aware, the current plan is to send TVA notice on Jan. 4th. The draft of the control area petition should be ready for circulation on Tuesday, the 28th. Once received, I will forward both the petition and a revised draft of this letter to legal, regulatory and trading for review. CONFIDENTIAL/ATTORNEY CLIENT PRIVLEDGE

Generate a subject line.

OUT: TVA MOPA - Draft letter, re suspension

IN: I sent you an earlier email about the blue files. Now Erica has received back the three hole punch I ordered for you (so you could insert paper into the notebooks I have prepared for you), as well as a request for redweld manila folders (instead of the blue file folders we ordered for you). Can you work out what supplies you want from us. We are happy to order whatever you like, but the overseas mail charges are going to increase greatly what the supplies are worth. Thanks.

Generate a subject line.

OUT:
Supplies