RE: ETS Approval Authorization Policy

Please draft up some language that can be added to this policy to satisfy
Mike's concern. Run it by me and we'll send it to Rod. Thanks df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 03/22/2001
11:41 AM ---------------------------
From: Michael P Moran/ENRON@enronXgate on 03/20/2001 02:08 PM
To: Rod Hayslett/ENRON@enronXgate
cc: Drew Fossum/ET&S/Enron@ENRON

Subject: RE: ETS Approval Authorization Policy

I think one area that needs to be clarified is that many nonVPs believe that
if they have the expenditure authority they can sign contracts in connection
with the expenditure they are approving even in the absence of a power of
attorney. I think we need the policy to clarify the difference between
expenditure authority and execution authority. Our various company bylaws
state that only VPs and above have authority to sign contracts and bind the
company unless the President of the company delegates execution authority.
Therefore we either need POAs or delegations of authority for execution
authority below VP. This policy needs to clarify this point. I have sent this
to Drew and we will work up some new additional language.

-----Original Message-----
From: Hayslett, Rod
Sent: Tuesday, March 20, 2001 1:53 PM
To: Cordes, Bill; Corman, Shelley; Gibbs, Dana; Horton, Stanley; Hotte,
Steve; Kinningham, Laura; Lowry, Phil; McCarty, Danny; Meyer, Rockford;
Moran, Michael P.; Prentice, James; Smith, Gary; White, Julia
Cc: Ackley, Earlene; Alder, Amelia; Armstrong, Julie; Hogan, Janice; Houser,
Rita; Jolibois, Anne; Mann, Ruth; O'Neill, Virginia; Perry, Carolyn; Sellers,
Emily; Stark, Cindy; Winters, Ricki
Subject: FW: ETS Approval Authorization Policy

Please review and provide comments to myself and/or Lisa Sutton.

-----Original Message-----
From: Sutton, Lisa
Sent: Thursday, March 08, 2001 10:36 AM
To: Hayslett, Rod; Saunders, James; Peters, Jerry; Jesse, John; Borcyk,
David; Cherry, Paul; Brassfield, Morris; Fenstad, Larry; Brasher, Barney;
Clements, David; Concklin, Elaine; Chandler, Bob; Cobb, John; Wiederholt,
Patricia; Fancler, Dan; Lev, Jennifer; Geaccone, Tracy; Gilbert, Steve;
Keiser, John; Meers, Thomas; Barnes, Caroline; Stern, Ellis
Subject: ETS Approval Authorization Policy

FYI, based on comments received, attached is the draft which will be
distributed to Stan's direct reports for comments. We plan to have the policy
in place before the end of March.

<< File: etsapprovalpolicy.xls <<