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Enron Mail |
Twanda, we need to revise Shankman's contract as described below. Thanks a
lot!! Michelle (Memo to Oxley) ------------------------------------------------------------------------------ --------------------------- Michelle Cash Enron North America Corp. 1400 Smith Street Houston, Texas 77002 (713) 853-6401 michelle.cash@enron.com This message may contain confidential information that is protected by the attorney-client and/or work product privileges. ----- Forwarded by Michelle Cash/HOU/ECT on 06/20/2000 05:19 PM ----- David Oxley 06/20/2000 04:56 PM To: Michelle Cash/HOU/ECT@ECT cc: Subject: Re: Contract Can you update draft and let me have a copy? Thanks ---------------------- Forwarded by David Oxley/HOU/ECT on 06/20/2000 04:56 PM --------------------------- Mary Joyce@ENRON 06/20/2000 04:19 PM To: David Oxley/HOU/ECT@ECT cc: David W Delainey/HOU/ECT@ECT, Cindy Skinner/HOU/ECT@ECT, Pam Butler/HR/Corp/Enron@ENRON Subject: Re: Contract David, Lets move forward! Approved by Jeff. Thanks! MAry David Oxley@ECT 06/16/2000 02:37 PM To: Mary Joyce/HR/Corp/Enron@ENRON cc: David W Delainey/HOU/ECT@ECT, Cindy Skinner/HOU/ECT@ECT Subject: Contract Mary, I spoke with Dave and Mark above below and have concluded that we would like to go back to him with following offer. Before we do so can you make sure this is OK with ENE OTC; Offered His Counter Proposed Compromise Contract Term 2 years Happy for 3 leave at 2 Base $250 Agreed No change $275 2/1/01 S/O Equity None $500k options None Bonus $1.25mmTarget $1.5mm Target(for 00) $1.5mmTarget (for 00) $1.25mm Target (for 01) $1.25mm Target (for 01) ENE LTI $1.25mmTarget $1.5mm Target (for 00) $2mm Target (for 00) $1.25mm Target (for 01) $1.25mm Target (for 01) All targets for top 25% performance. David ---------------------- Forwarded by David Oxley/HOU/ECT on 06/16/2000 01:57 PM --------------------------- From: Jeffrey A Shankman on 06/13/2000 02:25 PM To: David W Delainey/HOU/ECT@ECT cc: David Oxley/HOU/ECT@ECT Subject: Contract Following up from yesterday: Base--$250 effective at contract sign Base--$275 effective Feb 1, 2001 (Already discussed) Bonus Target for Cal 2000 Bonus Target for Cal 2001 Cash 1,500,000 Cash 1,250,000 Stock/Opt 1,500,000 Stock Opt 1,250,000 Bonus Target for Cal 2000 assumes current performance, etc, etc. Stock/Opt targets structured as program paid/participated in Bonus paid in Cal 2000. Also, Options on 100,000 shares of Enron (valued at current valuation) Struck on date of contract execution with 25% vesting at contract signing, an 25% each January thereafter. Also, $500,000 interest free loan (between ENA and myself) payable back by employment contract expiry. Standard MD noncompete. David, you had mentioned (at Cliffs suggestion a 2 year deal, but I'd be happy to entertain 3 if you prefer).
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