This is the content of an email: Jim: Pursuant to our recent conversation, I have attached below a DRAFT of ENA's standard (1) municipal ISDA Schedule and (2) Paragraph 13 to the ISDA Credit Support Annex. These two documents are intended to supplement the boilerplate for the ISDA Master Agreement and the ISDA Credit Support Annex. The forms are generic, that is, they have not been tailored for use by a specific municipal counterparty; they would necessarily be the subject of specific negotiations. Energy New England's agency relationship with the various municipalities appears to cover physical trading. Notwithstanding the agency agreement, the financial trading world requires much more specificity, including but not limited to, evidence of authority to execute a master financial agreement and transactions thereunder. Additional information, including a legal opinion, is also required. I assume from our prior conversation that you already have in your possession copies of the ISDA boilerplate. Please advise otherwise. You should feel free to contact Ed Sacks with questions regarding collateral support documentation. As I mentioned, the attached Paragraph 13 has not been customized. Please feel free to call if you have any questions. Sara

Subject: ISDA Master Agreement prepared by Enron North America Corp. ("ENA")

This is the content of an email: Just an update, Susan Bailey, a paralegal in our group, will be working on the Confirmation, her direct no. is x34737, and Stephanie Panus, another paralegal in our group, will be working on the ISDA Master, her no is x53249. When you have that address and contact information ready for the counterparty, why don't you email it directly to Stephanie. If I can be of further help, just let me know!

Subject: Vermilion

This is the content of an email: Last night when I left the Enron Building, once again I was so very depressed thinking that another executive was taking millions of dollars away from Enron and leaving the employees to fend for ourselves. On the way home I heard your announcement on the radio that you were not going to exercise that part of your contract. Thank you for restoring my faith in Enron. I truly appreciate the sacrifice you are making and thank you for thinking about the employees.

Subject: Thank You

This is the content of an email: To All Derivatives II attendees: By now, you should have received your pre-course packets containing the two review quizzes for Derivatives II . (If you have not, please see me immediately.) To clear up any possible confusion: The COMPLETED review quizzes need to be brought to the first day of class--so team up with a buddy to answer the questions! (I believe that that instructors would like to get an idea of how well you understand the concepts from Derivatives I.)
Subject: REMINDER: Deriviatives II class is tomorrow (Bring COMPLETED quizzes)