I suspected that we would have no problems, but wanted to be sure we were all
aware of the issue.
Thanks, and I will miss Enron as well.
From: Jeff Skilling @ ENRON 05/09/2001 01:00 PM
Sent by: Sherri Sera@ENRON
To: Jay Fitzgerald/NY/ECT@ECT
Subject: Re: My Resignation, and a Question
I've always taken a pretty laid back approach to the noncompete when there is
little overlap. Having said that, however, I'd like to keep a "last veto"
right - just give me a call when you've got something.
Good luck to you in the future, Jay. You'll be missed at Enron.
05/09/2001 08:55 AM
To: Jeff Skilling/Corp/Enron@ENRON
Subject: My Resignation, and a Question
As you may know, I have (somewhat reluctantly) decided to resign from Enron.
For some time now, I have wanted to take some time off, and had asked Whalley
about the possibility for a six month unpaid, unvested sabbatical. Primarily
for reasons of precedence, he was unwilling to pursue this option, which,
while it is disappointing to me, I accept.
The purpose of this note is twofold.
First, I would like to thank you for making this company the great place it
is today, and for giving me the opportunity to have a great career here. I
will forever look upon my nine plus years with Enron fondly.
Second, I would like to ask you as the administrator of the 1997 Long Term
Incentive Plan to allow me to explore opportunities in the venture capital
community without triggering non-compete provisions with regard to future
payouts. I very much enjoyed my brief role in venture capital, and have some
very good contacts in that area here in New York. Since NetWorks decided to
cease operations in that business earlier in the year, I should not think
that Enron would view anything I might do there as competitive, especially if
I were not working directly in the energy space with an Enron competitor.
At present, I am planning to spend my time at least through the summer
enjoying, and travelling with, my family. I have nothing planned
professionally as of yet, but wanted to take the opportunity to drop you this
note while I might still be viewed positively (I hope that's not too
Please let me know your thoughts on this non-compete provision as I would not
wish for anything to be awkward for us going forward.
Again Jeff, thanks for many great memories, and as an Enron shareholder, keep
up the great work!