Trading Profits

P. Allen 200
M. Grigsby 463
Rest of Desk 282

Total 945

I view my bonus as partly attributable to my own trading and partly to the
group's performance. Here are my thoughts.

Minimum Market Maximum

Cash 2 MM 4 MM 6 MM
Equity 2 MM 4 MM 6 MM

Here are Mike's numbers. I have not made any adjustments to them.

Minimum Market Maximum

Cash 2 MM 3 MM 4 MM
Equity 4 MM 7 MM 12 MM

I have given him an "expectations" speech, but you might do the same at some
point.

Phillip