Online Trading contracts

Here are several of the contracts we are planning to use for the online
system. I wish I could tell you these are the final (or even the most
recent) versions of the documents but things have changed so frequently that
I'm afraid these may not be quite up to date. They do have the advantage of
being in my directory and therefore available to send to you today. I don't
think the final changes will be significant but if you want to use these as
starting points, please let me know so I can be sure you have the latest
material.

The PA is the Password Application which is the only document the prospective
counterparty actually signs by putting pen to paper. The first time the
counterparty logs on to the system with its approved password, it is required
to agree to the ETA (Electronic Trading Agreement) by clicking on an "I
Agree" box after scrolling through the agreement. The GTC's are the
contractual terms that apply to online transactions if there is no master
agreement in place. Legal will have the ability to restrict a counterparty
to trading only certain products online if we feel it is necessary. While
most financial transactions will be governed by GTC's that look like our
"Omnibus" documentation, the weather derivatives look more like a "Deemed
ISDA." One final complication, the credit group has asked us to create two
sets of documents: one for highly creditworthy counterparties which will have
no credit provisions included and a second set for counterparties credit is
not quite comfortable with which will contain a provision allowing us to call
for collateral if we choose.