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Enron Mail |
Guys, we need to figure this out in the next couple weeks. John do you want
to take a stab based on manager, director and VP rankings? Regards Delainey ---------------------- Forwarded by David W Delainey/HOU/ECT on 07/12/2000 12:24 AM --------------------------- David Oxley 06/14/2000 10:30 AM To: Mary Joyce/HR/Corp/Enron@ENRON cc: Sheila Knudsen/Corp/Enron@ENRON, Cindy Olson/Corp/Enron@ENRON, Cindy Skinner/HOU/ECT@ECT, David W Delainey/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron Subject: Strictly Confidential ENA Mid-Year 2000 Senior Management and High Value Contributors Equity Awards Mary, As discussed yesterday, I have had further discussions with Dave and John on this subject and we would like to proceed as follows; - Wait for mid-year PRC discussions to conclude July 7 - Make recommendations for option grants to key first 6 month contributors and new management players following week - Strike equity and communicate to recipients Aug 1 The rationale for this would be as follows: - ENA has had a stellar first 6 months and will probably over exceed plan by $150mm - 5 or 6 individuals have been instrumental in creating exceptional value and we would like to recognise their performance now. - A number of people have over the last 6 months been asked to step up and take more senior roles following the moves to EBS and ENW. We would like to recognise these people now (subject to top 2 PRC performance) by granting them some options. - As a consequence of some people's increased responsibilities and in looking at their unvested equity value, a number of people appear low in relation to the market. I would anticipate that the individual awards would be of 7 year options with standard vesting and would mainly be of individual 5-10,000 options awards (or $145-$290k). These might total in the region of 150-250,000 options. While most of the probable recipients will be commercial officers, I would expect a number of senior support and some Commercial Directors also to be recommended. Obviously I understand that we will need to put individual cases together for each recipient for board submission but I would appreciate your help and guidance as we proceed. In particular please alert me asap if you think this will be a problem. Thanks David
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