Sr. Director Position

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/12/2001
04:47 PM ---------------------------

Enron North America Corp.

From: Molly Magee 01/11/2001 05:24 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc: Norma Villarreal/HOU/ECT@ECT
Subject: Sr. Director Position

Vince: As you requested, I have obtained some information from Norma
relating to the salary parameters of the Sr. Director position. The minimum
salary is $83,800, and the maximum is $168,000 (huge range, isn't it?).
However, Norma did ask me to bring a couple of things to your attention: the
lowest salary of a VP in your group is currently $140,000, and the average
director's salary in your group is $120,000. Those numbers narrow the
range considerably. Of course, there is no equity issue since there is no
other senior director in your group.

Hope this information helps,
Molly