IN: This is an email
It was determined by a vote of the Forum Moderators at our meeting May 8th to form a new Forum (Forum VIII). This decision was based on the current Forum membership (81); the number of new members wishing to participate; and the number of prospective members currently in process. The new Forum affords a unique opportunity for existing members. In an effort to blend the experience of new members with seasoned Forum members, we are looking for the following: a) A member who wishes to change Forums b) Current Forum member having 3 years or less eligibility remaining in YPO who would like to help mentor an additional Forum. We are considering that this may give a member the opportunity to interact with other Houston YPOers or perhaps re-invigorate an individual's Forum experience. If you have any interest, please contact me by May 22nd. Please know that all questions, thoughts, or expressions of interest will be held by me in strict confidence. By way of process, the new Forum will participate in the draw with the other Forums who have indicated they need members. They will select first in the order. We trust that this process will give the new Forum an immediate opportunity to be successful. Thank you for your cooperation.

What is the subject?

OUT: New Forum

IN: This is an email
ENA Legal (TBD) 1. ENA Legal is responsible for deal documentation and legal sign off for the transaction, and is typically responsible for all transaction-related agreements documents such as MOUs/MOIs, Participation or Development Agreements, and any Agreement, which directs the operation of the project (O&M Agreement, Steam Agreement, Gas Agreement, Power Purchase Agreement, etc.). 2. ENA Legal represents the interests of advises the origination and development team (and other members of ENA management as appropriate) on all legal aspects of a transaction, accessing internal and external resources as required. and reviews/synthesizes comments from the all the groups. 3. ENA Legal works with origination team, Accounting, Global Finance and Tax in structuring the transaction, and communicates with EECC (and others) as required during the execution of the project to faciliate compliance with the structure. Recommendations for improving the interaction between EE&CC and ENA: 1. EE&CC Legal should be involved in the beginning of the process of drafting documents by EE&CC Contract Administration, unless other procedures have been agreed. 2. Due to conflicts of interest, EE&CC Legal cannot represent NEPCO while at the same time working with the deal team. to procure equipment for the same project. ENA Legal and EECC Legal should be advised early in the process of any project-related agreements being generated by EECC, so that compliance with overall deal structure and risk profile can be ascertained. 3. Comments returned to EE&CC need to either be incorporated in the next draft, or if there are issues on the comments, they need to be discussed with the ENA Legal representative or Origination contact, prior to distribution to vendors. 4. EECC Legal and ENA Legal should communicate regarding issues common to both companies so that consistency in position can be achieved as much as possible. Forms of "standard" agreements should be discussed/agreed to enhance consistency. 5. Service and consulting agreements not specific to a particular transaction which can be untilized by multiple Enron companies via tasking letters should be prepared by EECC. EECC should provide information concerning the existence of such service agreements. 6. ENA Legal would should work closely with EE&CC contract administrators in drafting equipment in the preparation of contracts which the contracts personnel have been tasked to prepare. EECC Legal can assist by providing input, but is not required by ENA to sign off on such contracts.

What is the subject?

OUT: My suggested changes to bullet points re: legal role

IN: This is an email
Sally, FYI... The attached spreadsheet details the funds I have gotten in from our Prime Brokers since October 25th. $180 million relates to Gary Hickerson's Equity Trading area. $80 million relates to other business units. Sheila Summary Total 10/25-12/1 12/2- current Equity Trading 180,569,077 152,765,815 27,803,262 Other accounts 79,425,478 36,508,039 42,917,439 All accounts 259,994,555 189,273,854 70,720,701

What is the subject?

OUT:
Prime Broker Cash Back to Enron entities