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Enron Mail |
Please see the two additions below.
From: Chris Booth 04/03/2001 01:14 PM To: Kay Mann/Corp/Enron@Enron, Ben Jacoby/HOU/ECT@ECT cc: Subject: Proposal to Siemens Westinghouse Kay and Ben, Per my conversation with Ben, I have revised the offer to now read: Lynn , In an effort to expeditiously resolve our issues regarding the damaged generator, we suggest the following offer, subject to ENA Management approval and the execution of the appropriate documents: Enron will pay Siemens Westinghouse $1,500,000 towards the cost of the Replacement Generator. Enron and Siemens Westinghouse agree to split the proceeds of the insurance claim on a 50/50 basis up to the point where Enron has recouped their $1,500.000 payment Any insurance proceeds recovered in excess of $3,000,000 ($1,500,000 to Enron, $ 1,500,000 to Siemens Westinghouse) are to Siemens Westinghouse account. By Siemens Westinghouse acceptance of this offer, Enron waives its claim to Delivery Liquidated Damages Example: Enron Payment to Siemens Westinghouse: $1,500,000 Insurance Proceeds from Damaged Generator $4,000,000 Enron's share of insurance proceeds: $1,500,000 =($4,000,000 x 0.5) up to $1,500,000 Siemens Westinghouse's share of insurance proceeds: $2,500,000 = ($4,000,000 - $1,500,000) This suggestion is for settlement purposes only, and is without prejudice to any rights or positions of Enron or Siemens Westinghouse.
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