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Enron Mail |
Earline,
The questions are as follows: 1. Has Enron provided Ecogas with such coverage for its non-Enron board members so far? 2. What is the general scope of such coverage? Ecogas is a stand-alone company. Enron owns about 85 percent of its stock and has three people on its Board. I hope that helps. Michelle Earline Kendall 06/14/2000 10:19 AM To: Michelle Cash/HOU/ECT@ECT cc: Subject: RE: D&O Insurance OOps there were about 4 emails from Jim Bouillion that were forwarded to me on this matter. Apparently I picked up the wrong name. It is Jerrel Branson that is seeking coverage under Enron's D&O. The same questions apply only change the name to Jerrel Branson. We just need to know the chain of ownership to answer. The Enron D&O policy is very broad. Thanks and sorry for adding to the confusion on this coverage question. Earline Kendall 6/14 ---------------------- Forwarded by Earline Kendall/HOU/ECT on 06/14/2000 10:15 AM --------------------------- Earline Kendall 06/14/2000 10:08 AM To: Michelle Cash/HOU/ECT@ECT cc: Subject: RE: D&O Insurance Your email to Jim Bouillion regarding coverage for Ron Maffett of ECOGASA has been forwarded to me for handling. Teddy Ward, retired June 1. I am her successor as manager of the D&O coverages. Please provide additional information to further my research into the D&O coverages. Is Enron North America the owner of ECOGAS If so what is the % ownership Is Randal Maffett an Enron employee or is he an outside director/officer. We do cover outside directors but it depends on our ownership interest and if we manage it Thanks, Earline Kendall ---------------------- Forwarded by Earline Kendall/HOU/ECT on 06/14/2000 10:01 AM --------------------------- James L Bouillion 06/13/2000 04:37 PM To: Earline Kendall/HOU/ECT@ECT cc: Subject: RE: D&O Insurance More of what was sent this morning. ---------------------- Forwarded by James L Bouillion/HOU/ECT on 06/13/2000 04:36 PM --------------------------- From: Michelle Cash on 06/09/2000 09:15 AM To: James L Bouillion/HOU/ECT@ECT, Dominic Marshall/EPSC/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT, rstephens@bracepatt.com, Randal Maffett/HOU/ECT@ECT cc: Subject: RE: D&O Insurance Jim/Don, Do you know anything about this for Ecogas? Michelle Cash ----- Forwarded by Michelle Cash/HOU/ECT on 06/09/2000 09:13 AM ----- Randal Maffett 06/08/2000 06:44 PM To: Michelle Cash/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT, rstephens@bracepatt.com cc: Subject: RE: D&O Insurance FYI - see Jerrel's response to my query below. This is the first I've ever seen or heard that this was a "condition to closing." Dan/Rob - is this true? To me the cost is irrelevant since Jerrel is the only Director affected and because of his actions (and/or lack thereof) the company can't afford to cover him. ---------------------- Forwarded by Randal Maffett/HOU/ECT on 06/08/2000 06:38 PM --------------------------- Jerrel Branson <jerrel@ecogas.com< on 06/08/2000 05:16:24 PM To: "'Randal.Maffett@enron.com '" <Randal.Maffett@enron.com< cc: Subject: RE: D&O Insurance Answering backwards - D&O insurance is exceedingly expensive for small firms to secure, thus most do without it. Second, it was a condition when we closed and McConville/Lambert, et al researched it through Enron Risk Management, Don Marshall, and stated that it was in place automatically for any majority owned merchant investment. A confirmation letter was promised on 14 July and when pressed in September Lambert finally got around to issuing the letter to Carl and me that I mentioned earlier. Jerrel -----Original Message----- From: Randal.Maffett@enron.com To: jerrel@ecogas.com Sent: 6/8/00 4:42 PM Subject: Re: D&O Insurance I'm not very experienced in these matters so I'm checking with the folks here. Can you explain why Enron should cover non-Enron directors? Why doesn't Ecogas have its own insurance? Any help you can provide is appreciated.
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