QUESTION: Hi- This afternoon at 5pm I have a conference call with moderators from forums 1,3,5 along with Johnny Duncan to determine draft order for upcoming Forum draw. J. Hines has agreed to head the selection of the new Forum as his Forum is not going to participate. My understanding is that your Forum would pass on this draft as well ...our goal is that by next year all Forums would have 9-11 members with 10 as a norm target... according to my records you should be there by participating in next years draft...I believe this will leave 7-8 for the new Forum along with 1 or 2 veterans to form its nucleus..Please email me if you have any thoughts that are contrary to my thinking or if you wish to be on the call, please notify me or Vivian asap.... Craig
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ANS: Forum selection process

QUESTION: Mich, Lavo wants to do following: Draft a cover letter that says "Attached is form of retention agreement which will be good at the conclusion of the auction on Jan 10/11, no matter who the counter party is, providing however that the successful bidder will at least 1. Have a bonus pool of at least 15% of EBIT if NETCO makes it forecasted earnings 2. Is at least AA credit rated 3. Agrees to the other provisions in the draft ASA relative to honoring Enron service and other employee matters. Take the Citibank doc we have been working on and make necessary amendments to remove references to counter party. We may need to give ourselves some wiggle room on how retention and bonus awards may vest. Can we get a draft of above this morning? David
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ANS: Retention Agreement

QUESTION: we need to pass on penalties to counterparties who cut us on gas day of may 11. many counterparties are swinging on eol deals, so going foward we are going to rank those counterparties to take the cuts. as far as this deal goes, the problems incurred were due to logistical issues. we did rerank wild goose for cycle 4, but pg&e did not allow for renoms on this cycle.
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ANS:
Liquidated Damages Pertaining to May 11 Gas Day