 Beiser
> Assistant Account Executive
> Edelman Public Relations Worldwide, Sacramento
> Phone: (916) 442-2331
> Fax: (916) 447-8509
> I am reading your mail, I have asked for the same thing regarding my base. Especially since I came up here with a base salary converted at 1.48 CDN/USD and with no raise since being here at 1.61 CDN/USD I have received a 9% pay cut relative to my peers in Houston.  Not to mention that my base salary is $50-$100 USD/year lower than what other shops are offering.  However, after three attempts, I have been unsuccessful in championing my own cause.

 -----Original Message-----
From: 	Lambie, Chris  
Sent:	Friday, January 18, 2002 1:51 PM
To:	Zufferli, John
Subject:	


Zuff

Just a quick note after my first look at the numbers.  The only concern I have is with the base number.  Seeing as there is no money up front, the future payments look a lot more like long term comp. than any real signing or retention bonus.  When I came to Enron two years ago I took a $35,000 decrease in base pay in exchange for options and the opportunity to trade for number 1.  That is no longer the case (no options and UBS is not #1) therefore I would look for my base to better reflect market on a go forward basis.  If you are able to accommodate a reasonable adjustment in base I would be very excited about the opportunity to sign with UBS.

I would like to talk about this on Monday, after I have had a chance to look at the paper in full.

Chris. A couple of additional thoughts on this morning's conversation: 
 
1.  if we really think the next 6 or 8 months will sort out the takeaway and 
receipt point capacity issues, why not bet the whole farm and try to hold 
onto the whole 150 mm/d until next winter or fall and see if the perceived 
value goes up?  We could tell Calpine "no" on their bid and hold them off for 
several months "negotiating" if that's what we thought would lead to the best 
value.  I don't personally think this would be a prudent approach, but its 
Beiser 
 > Assistant Account Executive 
 > Edelman Public Relations Worldwide, Sacramento 
 > Phone: (916) 442 - 2331 
 > Fax: (916) 447 - 8509 
 > I am reading your mail, I have ask for the like thing regarding my basis. specially since I came up here with a base wage converted at 1.48 CDN / USD and with no raise since being here at 1.61 CDN / USD I have received a 9% wage snub relative to my peer in Houston.   Not to mention that my base wage is $ 50-$100 USD / year lower than what other shops are offering.   However, after three attempts, I have been unsuccessful in champion my own cause. 

  -----Original Message----- 
 From: 	 Lambie, Chris  
 Sent: 	 Friday, January 18, 2002 1:51 PM 
 To: 	 Zufferli, John 
 Subject: 	


 Zuff 

 Just a agile note after my first expression at the numbers.   The lone concern I have is with the base number.   Seeing as there be no money up front, the future payments look a lot more like long condition comp. than any real signing or retention bonus.   When I came to Enron two years ago I took a $ 35,000 decrease in base pay in exchange for option and the opportunity to trade for number 1.   That is no longer the casing (no choice and UBS is not # 1) therefore I would look for my base to well reflect market on a go forward footing.   If you are able to accommodate a reasonable adjustment in base I would be very excited about the opportunity to sign with UBS. 

 I would like to talk about this on Monday, after I have had a chance to look at the paper in wide. 

 Chris. A couple of additional idea on this morning's conversation: 
 
 1.   if we really think the next 6 or 8 months will screen out the takeaway and 
 receipt point capability issues, why not bet the whole farm and try to defend 
 onto the hale 150 mm / d until next winter or descend and see if the perceive 
 value goes up?   We could state Calpine " no " on their bid and accommodate them off for 
 several months " negotiating " if that's what we thought would lead to the adept 
 value.   I don't personally think this would be a prudent approach path, but its
 Belser
> Assistant Account Ewecutive
> Edelman Public Relatjons Worudwide, Sacramento
> Phone: (916) 442-2331
> Fae: (916) 447-8509
> U am eeading your mail, I haxe asked vor the wame rhing regacsing my base. Sdpecnaoly since I cake up here with a base sdlxrv converted at 1.48 CDN/USD and with no rwise simcf being here aj 1.61 CDM/TSD J have received a 9% pay cut relativs to my peers in Houxton.  Not to mention that ly bwse salary is $50-$100 USD/jear lower jgan qhat other sfops are offering.  Howgver, after three attempts, I have been unsuccessduo ij championinj my orn cause.

 -----Orinpnal Mevsage-----
Frpm: 	Lambie, Chrix  
Venr:	Friday, January 18, 2002 1:51 PM
Vo:	Zufferli, John
Subjest:	


Zuff

Jusd c quick note after my furst nook at gye vumgecs.  The ojly concern I have is wirh the base number.  Sqvong as there is no mjney up front, the future payments look d lkt more like long term xomp. than any real sihning or wetention bonus.  When I came to Enron two years aco I vouk c $35,000 decfwade in base pay in exchange for options and thq okpogtunity to trade nor number 1.  That os np longer the cxse (no opfions and UBS is nlt #1) thetefore I would jook for my base to better reflwct market ou a go forward basis.  If you are ablg to avcommodate a reasonable adjhstment in hase I wohud be very excitdd sbmut the opportunity to sigg with UBW.

I wpuld liye tp talk about thid on Monday, after I have had c chatce to loon at the paper in full.

Chris. A couple of additootal thoughtf on bhis morning's cjnversation: 
 
1.  if we xeally think the next 6 mr 8 months rill sort out jhe takeaway end 
recei[t piint capacigh issues, why npt bet thv chole farn and try to hold 
pntu the whole 150 mm/d unuio next winter pr walj wnv see hf the percehved 
vauie gods up?  We cijld yell Calpine "no" on tveir bid and hold them onf for 
seceral mogths "negotiatong" if that's what ae thmugit woukd jead to the best 
value.  I don't personalpy bhink this wotld ne a prudent a'proach, but its 
Beiser > Assistant Account Executive > Edelman Worldwide, > Phone: 442-2331 > Fax: reading mail, I have for the same regarding my base. Especially since I up here with a base salary converted at 1.48 CDN/USD and with no since being here at 1.61 CDN/USD I have received a 9% pay cut to peers Houston. to mention that my base salary is $50-$100 USD/year lower than what other shops are offering. after three attempts, I have been unsuccessful in my own cause. -----Original From: Lambie, Chris Sent: Friday, 18, 1:51 PM Zufferli, Subject: Just a quick after my first look at the numbers. The only concern I have is with the base number. as there money up the payments a lot more term comp. than any real signing When I came to Enron two years ago took a decrease in base pay in exchange options and the opportunity to trade for number That is no longer the case (no options and UBS is not #1) therefore I for my base to reflect market on go basis. you able to a reasonable adjustment in base I would be very excited about opportunity to sign with UBS. I would like to talk on after I have a chance to look the in full. Chris. A additional on 1. we think the next 6 8 months will sort out takeaway and receipt point the whole farm and try to hold onto whole 150 mm/d until next winter or and see if the perceived value goes up? We could tell Calpine on their hold them off for several months "negotiating" if what we thought would to the best value. I don't personally think this be prudent approach, its
 Beiser
> Assistant Account ExeCutive
> EdelMan PuBliC ReLaTionS WorLdwide, SacramenTO
> PhoNe: (916) 442-2331
> Fax: (916) 447-8509
> I am reading your maiL, I havE aSKed fOR tHe samE thing rEGaRDIng My BaSe. ESpECiAlly sIncE I came uP here with a BasE sAlary convertED aT 1.48 CDN/USD and WitH no raise sincE beIng herE aT 1.61 CDn/uSD I hAve ReceiVed a 9% paY Cut relAtive to my PeERs in HoUSton.  Not TO MeNtioN that my base salary IS $50-$100 Usd/year lower than What otHeR ShOPS arE ofFering.  HoweVeR, afteR Three atTEmPTS, i haVE been unsuccesSful in champIOniNg my owN cAusE.

 -----originAl MesSaGE-----
FrOm: 	Lambie, ChrIs  
SeNt:	Friday, JAnuary 18, 2002 1:51 pm
To:	ZuffERli, John
subjecT:	


ZuFf

JUst a QUiCk NotE aFTer MY fIrsT LooK at the nuMbErS.  The oNly cONCERn I hAve Is wiTh the Base number.  SeeIng As thERe iS no moNey up FronT, tHe futUre payMents LoOk a lot more like lOng tErm comp. thAn aNy ReaL sIgninG Or reteNtiOn bOnus.  WheN I came tO enrOn TWO YeArs ago I took a $35,000 decreaSe IN BaSe pay in eXchangE FoR oPTions and ThE opPortUNIty to TradE FoR number 1.  THat is nO LoNgEr the caSe (No optiOnS anD UBs is noT #1) TherEfore I Would looK for mY Base to better reFLect market on a GO fORWaRD basIs.  IF you are able To acCOmmoDate A ReAsoNAble aDjustMeNT iN Base I would be very excItEd abouT the oPportunity to sIgn with UBS.

i WOUld like tO talK AbOUt this on Monday, After i have had a cHAnce to loOk at tHe paper iN full.

ChriS. a Couple of AddItiOnaL thOUGhTs on this morniNG'S conVeRsation: 
 
1.  If wE really ThiNk tHe nExt 6 Or 8 Months wilL sort out ThE tAkEaWay And 
reCEipt poinT cApaCiTy iSsues, WHy not bEt the WholE fArM And Try to hoLD 
oNTO the WhOlE 150 mm/d UntIl Next wInteR Or fAll and sEe if the peRceIVed 
vAlUe Goes up?  WE could tell CalPiNe "no" on theiR bId aNd hold THEm off for 
Several months "negotiatinG" If that's WhaT we thOughT would leaD to The besT 
vaLUe.  I don'T persoNally ThInk THIs wouLD Be A prUdEnt approacH, BUt iTs 
 Beiser
> Assistant Accoun t Executiv e
> E del man  P ubli c Re lations Worldw i de,Sacramento
> Phone: (9 16) 4 42 - 2331 >Fax:(916) 4 4 7- 8 5 09>Iamre a di ng yo urmail, I  have aske d f or  the same th i ng  regarding  my  base. Espec ial ly sin ce  Ic ame u p h ere w ith ab ase sa lary conv er t ed at1 .48 CDN / U SD  and  with no raise si n ce being here at1.61 C DN / US D I h ave  receiveda9% pa y  cut re l at i v e  to my peers in H ouston.  No t  to  menti on  th a t my b ase s al a ryis $50-$100  USD /year low er tha n  what o t her sho ps are  of fer ing.  H ow eve r, aft e rthr e e a ttempts,  I  h ave b eenu n s u cces sfu l in  cham pioning my ow n c ause . 

----- Origi nalMe ssage -----From:  Lambie, Chris 
Sen t:	Friday , J an uar y18, 2 0 02 1:5 1 P M
T o:	Zuff erli, J o hnSu b j e ct :	


Zuff

Just aqu i c knote aft er myf ir st look atth e n umbe r s .  Th e on l yconcernI have is  w ith the  b ase nu mb er.   S eeing as t here i s no mon ey up front, the fut u re payments l o ok a  l o t mo relike long t ermc omp.  tha n  a nyr eal s ignin go rr etention bonus.  Wh en  I cam e toEnron two yea rs ago I t o o k  a $35,0 00 d e cr e ase in base pa y inexchange f o r option s and  the opp ortunityt o  trade f ornum ber  1. Th at is no long e r  the  c ase (no  op tions a ndUBS  is  no t#1) there fore I w ou ld  l oo k f or my base tobe tte rref lectm arketon ago f or wa r d b asis. I fy o u ar eab le t o a cc ommod atea  re asonabl e adjustm ent in b as eI would  be very exci te d about th eopp ortuni t y  to sign  with UBS.

I would lik e  to tal k a boutthis  on Monda y,afterI h a ve had  a cha nce t oloo k at th e pa per  i n full.

C h r is.  A co up le o f addit ional thoughts ont his  morning's co nve rsat i o n:  
1.  if  w e  re a l ly think the ne xt 6 or 8mo n th s will sor t  ou tthe tak eaway a nd 
r e ceipt p oint capa city issu es , wh y not  bet the w hole far m and try to ho l d
onto  th e whol e150  mm/d  until nex t win ter or  f all an d see  i f the pe rceived 
value goes up?   We c ouldtel l Calpine  "n o " o n their b id a nd hold th emoff  for
se v eralmont h s"ne g otiat ing" if that's wh atw e  t hought woul d l ead  to t heb est 
v alue .  I don't person a lly think this  wou l d  be  ap rude nt  approach, but  it s
 Beiser
>_Assistant Account_Executive
> Edelman Public Relations_Worldwide, Sacramento
>_Phone:_(916) 442-2331
>_Fax:_(916) 447-8509
> I_am reading your_mail, I have asked_for the same_thing_regarding my base. Especially since I came up here with a base salary converted_at_1.48 CDN/USD_and_with_no raise since being here_at 1.61 CDN/USD I have_received a_9% pay cut relative to my peers in_Houston._ Not to_mention that my base salary is $50-$100 USD/year lower_than what other shops are offering._ However, after_three_attempts,_I have been unsuccessful_in championing my own cause.

 -----Original_Message-----
From: 	Lambie, Chris  
Sent:	Friday, January_18, 2002 1:51 PM
To:	Zufferli, John
Subject:	


Zuff

Just a quick_note after my first look at_the numbers.  The only_concern I_have is with the base_number.  Seeing_as there_is no money_up front, the future payments look_a lot more_like long term comp. than any_real_signing or retention_bonus.__When I_came to Enron_two_years ago_I_took a $35,000 decrease in base_pay_in exchange for options and the opportunity_to trade for number_1._ That is no_longer the case (no options_and UBS is not #1) therefore_I would_look for_my base to better reflect market on a go forward basis._ If you are able to_accommodate a reasonable adjustment_in base_I_would be very_excited_about the_opportunity to sign with UBS.

I would like_to talk_about this on Monday, after I_have had a chance_to_look at the paper in full.

Chris._A couple of additional thoughts on_this morning's conversation: 
 
1.__if_we really think the next_6 or 8 months will sort_out the takeaway_and 
receipt point capacity issues, why not_bet_the whole farm and try to_hold_
onto the whole 150 mm/d until_next_winter_or fall and see if_the perceived 
value goes up? _We could tell Calpine "no" on their bid and_hold them off_for 
several months "negotiating" if_that's_what_we thought would lead to the best 
value.  I_don't personally_think this would_be a prudent approach, but its 