Problem: BODY: Rob, independent of dotted/solid lines, you already have the primary and complete responsibility to manage the office and the business. At the risk of being bold, I think the undercurrent of your note and your discussions with Haedicke over the last couple of days is a matter of absolute control. Ownership and passion are important characteristics of our best commercial people but so is fostering a diversity of opinions and ideas. With the back and mid office, the current Enron model is based upon scale and standardization which generates tremendous operating leverage. Further, it helps us manage risk and is a board mandated control issue. In the long-run, it is actually less costly (ie) systems that don't work together, less transferable human capital, un-managed legal risks, etc. A lot of your points are very valid and Haedicke has never and never will get in the way of managing commercial business; however, Mark, Wes, Sally, Beth et al have a mandate to provide a flexible, scalable but standardized delivery mechanism, that manages our risk across the broad empire. Don't quit protecting the business and your people; however, please help accomplish some of these goals as well. In short, I would like to keep the reporting structures the same. Lets take the earliest opporunity to discuss this. Regards
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A: SUBJECT: Reporting Structure

Problem: BODY: I am a derivatives lawyer with ENA in Houston and obtained your name through one of my traders who is transacting with Jay Carr in Houston (please see attached message below). When I spoke with Jay earlier this month, I asked him for the name of a lawyer but was advised that all Vitol lawyers were in New York and that he would pass my message along to a lawyer. I am assuming that you are the trading lawyer who can assist me with negotiating an ISDA Master Agreement between our respective companies. If not, please let me know and feel free to pass this message on to the appropriate attorney. On April 12, 1995, Enron Capital & Trade Resources Corp., predecessor in title to ENA, and Vitol S.A., Inc. entered into a Master Agreement which is one of ENA's early energy price swap agreements. Since our companies are currently trading weather derivatives, I think you would agree that it would be prudent to supersede the existing agreement with an ISDA Master Agreement. This relates to my conversation with Jay in that we confirmed our weather deals under the existing master but incorporated the 1991 and 1993 ISDA definitions into the confirms of our weather trades. Please let me hear from you. You can reach me via email, phone (713/853-5620) or fax (713/646-3490).
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A: SUBJECT: Master Agreement (financial) between Enron North America Corp. ("ENA") and Vitol S.A. ("Vitol")

Problem: BODY: Any more documentation on this deal? Midwestern Gas Transmission 5/18/00 - Midwestern filed notice of a negotiated rate deal with Dynegy. It provides for a monthly reservation charge of $.025/dth and a tiered indexed commodity rate based on spreads. If the index spread is less than or equal to $.02, then the daily commodity rate shall be $.01. If the index spread is greater than $.02 but less than $.10, then the rate shall be 50% of the spread. If the index spread is greater than $.10, then the rate shall be $.05 plus 75% of the spread exceeding $.10. The deal is effective 5/1/00 through 10/31/00.
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A:
SUBJECT: Midwestern