IN: This is an email
Gary/Susan, We need to set up a new Intra-Central Physical Book. INTRA-CNT-TRANS-PHY There are already Intra-Cnt-Trans Price, Basis, GD, and IDX books set up. The region code for the physical book should be CENTRLTRSP. If you have any questions please let me know. Thanks,

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OUT: New Book

IN: This is an email
I spoke with Corporate Compensation yesterday (Kim Bolton) about the option of paying for stock options/phantom stock with proceeds from the EIP incentive plan. She is working on obtaining approval for that provision. Otherwise, I believe that we are ready to review a final version of the plan. Jeanne, could you please circulate one? I'll be in San Antonio for the law conference the rest of the week, but this process should not wait for me. Once corporate comp gives it the ok, we should be ready to finalize it. Michelle Cash

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OUT: EIP Incentive Plan

IN: This is an email
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

What is the subject?

OUT:
Retention Agreement