IN: This is an email
1. Be sure to verify that the underlying contracts do not allow cherry picking under any default scenario. If it does, amend the express language. 2. We have made 2 changes to the netting agreement forms on the basis of further review by Leslie Hansen of some provisions in our trading forms. The first change is in paragraph 2(a) to clarify the definition of Default. The second change is in paragraph 14(b) to delete the day limitation on claims of Force Majeure. We feel this should not be included in any physical contract that will be included in a master netting agreement, especially because of the current international situation and security concerns. See attached reline version to read the changes. 3. No changes have been made to the Collateral Annex. 4. Attached below are the new forms. Rather than continue with forms with and without the user notes, I put the user notes in a separate document. They are not at the back of the forms. Simpler. The attached forms are Master Netting & Security Agmnt 10 h a v1 (to use without collateral annex) and Master Netting & Security Agmnt 10 h v1 (to use with collateral annex).

What is the subject?

OUT: FORM CHANGES: READ

IN: This is an email
Hi, Tripmakers is a discount travel agency in Los Angeles. We offer "Last Minute Discount " on domestic and international travel. We can save you up to 50 % on most reservations. We offer you from LAX TO SYD for 1590 $ plus tax on MALAYSIA AIR . This fare for is weekday travel. The airlines charge $ 20 each way for weekends. This is a quote subject to availability of flight. Please contact us for flight availability at 1 - 800 335 9268 or e-mail to tripmaker@earthlink.net Thanking You

What is the subject?

OUT: FARE

IN: This is an email
Oscar, I changed para 2 back to unilateral because there is no way for Enron to have the information to issue a notice of termination on 11/30/99, only AEC will be privy to that and in the event they do not issue notice by that date they should remain bound to the deal. I assume that is the only change you made to the agreement I drafted last night. As such I have attached the modified version for your use with Credit prior to sending same to AEC this morning.

What is the subject?

OUT:
Modified AEC letter agreement