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Enron Mail |
-----Original Message----- From: McMichael Jr., Ed Sent: Monday, April 29, 2002 3:57 PM To: Quezada, Daniel Subject: FW: Questions Please forward to the whole gas team. -----Original Message----- From: Booth, Khymberly Sent: Thursday, April 25, 2002 10:16 AM To: Choate, Heather Cc: McMichael Jr., Ed Subject: Questions Let me first apologize for this being so late. I had to consult with Legal. Below are the answers to the questions asked last week in Ed's staff meeting: 1. Will the employees receive a sheet of paper telling them how much they will get? At the time payouts are made employees should receive some sort of confirmation of what $ amount is paid and what $ amount is deferred. The exact method of this communication is being worked out currently. Amounts paid and confirmed will most likely be posted for employee reference on ehronline similar to our benefit programs. 2. What is going on with the SEC? With relation to the KERP program, the SEC had several questions they posed to Dan Leff, Steve Cooper and Robert Jones. Their questions were answered efficiently, and as you all now know the KERP plan has been approved by the courts. 3. Who is on the Management Committee? At this time the Management Committee consists of the below listed: Stephen Cooper* Jeffrey McMahon* Ray Bowen* Stan Horton* Jim Hughes* Mike McConnell* Scott Josey Dan Leff* Tim Detmering Jeff Donahue Mitch Taylor Dick Lydecker Cindy Olson Mark Palmer Greg Piper Jordan Mintz Rob Walls* *Denotes Executive Management Committee 4. Is the $1.85M quarterly floor payment in the LIP guaranteed? Yes. 5. Are the LIP quarterly floor payments forward or backward? The LIP floor payments are quarterly payments that are off-settable to the milestone payments. In other words, the LIP floor payments are paid on a draw in advance of us meeting the milestones. The milestone payment would be off-set by any payment made under the quarterly floor requirement. I hope this address your questions adequately. Thanks- KB
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