Penalties

Can you believe this? We have more red tape than Washington on this.
---------------------- Forwarded by Randall L Gay/HOU/ECT on 10/17/2000 06:39
AM ---------------------------

From: Bryce Baxter 10/16/2000 05:13 PM

To: Audrey Cook/HOU/ECT@ECT
cc: Stacy E Dickson/HOU/ECT@ECT, Randall L Gay/HOU/ECT@ECT, Julie
Meyers/HOU/ECT@ECT
Subject: Penalties

Stacy Dickson called, and she said penalties for non-performance in the past
have been handled by supplying information to Legal and they will then write
a letter to the counterparty stating that per the contract you were supposed
to deliver X but you didn't perform, so now you owe us $Y. I asked her what
she would need to do this and she gave me the following list of items.
Please coordinate getting this to her - the spreadsheet you prepared may
already have the volume comparison, prices, and penalty calc in it - we just
need to get copies of the confirms and contracts. Let me know if you have
any questions. Thanks.

Counterparty Legal Name
Copy of contract
Confirm
Actual Volumes
Prices (prob gas daily)
Amount we think the penalty should be