FW:

fyi

-----Original Message-----
From: Shankman, Jeffrey A.
Sent: Tuesday, November 20, 2001 1:01 PM
To: Joyce, Mary; Fallon, Jim
Cc: Oxley, David; Whalley, Greg
Subject:

As you guys go through working up a severance program, I started thinking about some equity issues. If the average tenure of an employee at Enron is about 3 years, why not come up with 2 plans--1 for long serving employees who have been long dedicated to the company, and a second one for the more recently hired? It doesnt' make sense to me that someone who has been here under a year at $100,000 base should be entitled to 11 weeks even before they sign the waiver. I would also not change the program in whatever form you ultimately settle on for the longer serving employees, rather just scale back the program for the newer employees.

Regards,

Jeff