IN: Sara, I'm attaching a draft of the futures agreement to "get the ball rolling" again. I believe I have included the terms you indicated were most important. One item I would like to bring to your attention is the arbitration clause. Morgan Stanley prefers to litigate disputes, but I can agree to NFA arbitration rather than litigation. I know New York is our preferred location, and Texas is yours, so I thought that holding the arbitration in Chicago might equally inconvenience us. Please let me know if this works for you. Regards,

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OUT: Commodity Futures Customer Agreement
IN: This is an email
Tom , I appreciate the e-mail - sorry for the delay in response. I am on-side with all your points. On the New Albany retrofit, I want to ensure that I am not replacing one patent problem with another so a clear "title" up front on the new equipment will be important. However, I will be interested in hearing your solution especially if it can further reduce NOX and increase our operating hours. I share your interest in the FT-4 project hopefully we can take that to the next level. Please stay in contact. Regards

What is the subject?

OUT: Houston Meeting
QUESTION: How well do you know our Code of Ethics? "It is a condition of employment that each employee accept the responsibility of complying with the foregoing policies. The Company will require each employee of the Company to complete and submit a statement in a form designated by the Company pertaining to such employee's compliance with the policies set forth in this booklet. The Company reserves the right to request any employee to complete and submit such statement at any time or as frequently as the Company may deem advisable." (Enron Code of Ethics, July 2000, page 62) What does that mean? In layman's terms, everyone employed by Enron agrees to all the policies and standards listed in the current Code of Ethics (July 2000). Who does it apply to? The Code of Ethics applies to all employees, third party contractors, guests and licensees of Enron. Additionally, employees are responsible for their family members and/or personal household who use, own, or have access to Enron's communication services and equipment -- including telephones, fax machines, computers, computer modems, long distance telephone services, cell phones, voice mail, pagers, e-mail, mail and delivery services.
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ANS: Code of Ethics -- What Exactly Did I Agree To?
Since you both asked the same question, I thought I would send an email. The little I know about rail is that the railroads control the contracts. You do it their way. There is a lot of language in the LM contract concerning shipment, risk of loss, insurance, delivery. I haven't thought through it all, but these issues probably need to be considered. It may be best to work through GE on a change order basis to have them handle the shipment and storage elsewhere. Otherwise, we run the risk of having a dispute with them later about any problems or damage. I will be talking to GE this afternoon if you want the topic to be discussed then. Good luck! Kay
Q: What is a potential subject line for this email?
answer: Rail
I heard today that Curtis Smith has resigned. I am sure that both ot you know that Curtis and Jeremy Wong were viewed by users as critical resources for ERMS support. Even at a stand still, my team had great concern over the rumored loss of Curtis and/or Jeremy. And with the assumption that Sitara will not go forward for valuation, then ERMS really has become repositioned as one of our key, strategic systems. There is much to do to "catch up", if you will, with changes and enhancements that were put on hold for several years during the Sitara development stage. And our business continues to grow and change rapidly, requiring responsive enhancements on an on-going basis. I would like to get together to discuss the staffing plan for support of ERMS as soon as possible. We need to understand how day-to-day production support will be managed and how development work will be effectively handled. I will ask my assistant to set up a meeting as soon as possible.
Answer: ERMS Resources
Q: Barbara, short of me coming up with the money, it will be next to impossible to get this out of either the trading or origination group. As a significant contributor to the PAC and Enron's other adventures, I don't have the room. Personally, I also have difficulty making campaign contributions so closely linked to specific legislation or policy. This may not be the answer you want; however, I am all ears if you have any ideas on raising these funds. Regards
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A:
CONFIDENTIAL - Tennessee political contributions