Re: FuelCells

I'm working on it now. Maybe we (Enron) could review it tomorrow morning,
then send it to FCE. I can meet around 10:00. That way, we can get it to
them in time for weekend review. Does that work?

Kay

From: Scott Healy @ ECT 10/26/2000 12:54 PM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject: FuelCells

I spoke briefly to Jeff. He said that they resolved all the major economic
issues with FuelCells. Here is what I believe to be the resolution.

1. Foundations--FCE to do; our obligation to deliver site in the required
conditions.

2. Shipping--As we previously proposed; not to exceed amount

3. Escalation--None.

4. Financing Adder--Considering 3.6% adder.

5. Termination points--Jeff said 9 months, 5 months and 4 months. I assume
that means 9 months after expected installation for the first 7 units, 5
months for the next 7 and 4 months for the last 8.

6. Termination Price--Average price of order.

Where does everything stand on the redraft?