Re: Plan to Rebuild the Business

The lawyers had a kick-off meeting today. Vicki and I echoed your point on
not shutting down the business. We have a great team assembled and I think
it will calm down the traders in EWS. I will keep you posted.

Mark Haedicke

David W Delainey@EES
05/11/2001 05:55 PM

To: Mark E Haedicke/HOU/ECT@ECT
cc:
Subject: Plan to Rebuild the Business

Mark, I appreciate your help in these matters. We need to be accurate and
manage our risk but we can't "land the plane" or kill current and future deal
velocity in the process. Let me know how I can help.

Thanks much
Dave
---------------------- Forwarded by David W Delainey/HOU/EES on 05/11/2001
05:54 PM ---------------------------
From: Mark E Haedicke@ECT on 05/11/2001 05:46 PM
To: Vicki Sharp/HOU/EES@EES
cc: (bcc: David W Delainey/HOU/EES)
Subject: Plan to Rebuild the Business

Here are my thoughts so far:

1. Initial Legal Team -- Jeff Hodge, Jim Keller, Carol St. Clair, Aaron
Rothwarg

2. Spot Check the Forms -- over the next week

3. Conform Forms to ENA Forms -- over next two months

4. Develop Form Approval Process -- dual approvals by EES and ENA

5. Develop Deal Approval Process -- deals above a certain size (or material
variations from the form) would require concurrent EWS approval

6. Request List of Major Contract Concerns from Traders -- items that cannot
be hedged