Re: Confidentiality Agreement with Scana

Sara,
Sorry, I was too assiduous in deleting what I thought would be duplicated on
this thread, so I'm working from memory on comments before Guenther's last
contribution.

Data for pricing is owned by Enron Credit Ltd (generated by employees of
Enron Power Operations Ltd whose costs are charged to ECL)
Information deals are done with ECL (Derivative transactions are currently
with Enron North America Corp, probably with Enron Credit Inc in the future)
The Enron staff who would be looking at this are employed by Enron North
America Corp which is why I suggested ENAC as the named party.
They clearly act for ECL on information deals.
If it's OK to use ECL then that would be easier for us.

I have no objections to suggestions that I should be promoted! In the
meantime, I am a board director of ECL and have both legal and group
management authority to sign contracts (with a lawyer's initials being a
prerequisite).

Regards,
Richard

From: Sara Shackleton on 16/02/2001 08:44 CST
To: Guenther Klar/LON/ECT@ECT, Richard Sage/LON/ECT@ECT, Denis
O'Connell/LON/ECT@ECT
cc: Janine Juggins/LON/ECT@ECT, Tana Jones/HOU/ECT@ECT

Subject: Re: Confidentiality Agreement with Scana

Guenther:

Thanks for the response. I'll wait to hear from Richard Sage as to who owns
the information.
Only officers at the VP level or higher may execute binding contracts for all
Enron U.S. companies (bylaws). I do not know the "rule" for non-U.S.
companies (although I suspect the articles of association would contain that
information).

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com

Guenther Klar
02/16/2001 08:24 AM

To: Sara Shackleton/HOU/ECT@ECT
cc: Janine Juggins/LON/ECT@ECT, Richard Sage/LON/ECT@ECT, Denis
O'Connell/LON/ECT@ECT, Tana Jones/HOU/ECT@ECT
Subject: Re: Confidentiality Agreement with Scana

Sara

You are right about the tax issue - in fact, we are in the process of
replacing the UK directors and officers of Enron Credit Inc with US directors
and officers.

The entity that signs up to the confidentiality agreement ought to be the one
that owns the information to be supplied. Based on conversations I have had
with Richard Sage, I had formed the impression that the owner of the
information was Enron Credit Ltd. If this is right, we should pursue your
first suggestion. Otherwise, given that the tax issue is being rectified and
this should therefore be an isolated incident, I think we can wear the tax
risk inherent in your second suggestion. Though I do wonder whether an
officer of Enron Credit Inc, such as Richard Sage (currently), could sign,
rather than a director?

Kind regards

Guenther Klar