Peoples Letter Agreement

Any problem with this?

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/22/2000 08:35
AM ---------------------------
From: Gregg Penman on 11/21/2000 05:00 PM
To: Kay Mann/Corp/Enron@Enron
cc: Russell Diamond/HOU/ECT@ECT

Subject: Peoples Letter Agreement

Kay - Here is my attempt to turn the term sheet into something executable. I
have accepted all of William Harmon's changes except for the second paragraph
under amended terms. William used the wording "The payment late payment
amount is calculated...". I changed it to "The payment interest on overdue
amounts is calculated..." to be consistent with the reference in the above
paragraph. I don't think this changes any substance, but I defer to you. I
think that is all I changed. I also added a quick intro. and a paragraph on
future payments to reiterate this is only for October purchases. Neither may
be necessary, let me know. I am not sure your availability tomorrow, but I
would love to hear from you ASAP in the morning to get this in front of
Peoples for signature. Russell Diamond is coordinating the internal Enron
approvals with Global Finance, Credit and RAC.

Thanks again for your help on your vacation day.

Gregg