Enron Mail

Subject:FW: thank you / proposed changes to offer
Date:Tue, 26 Jun 2001 10:12:09 -0700 (PDT)

Per voicemail.
-----Original Message-----
From: "Heath Schiesser" <heath@idealab.com<@ENRON [mailto:IMCEANOTES-+22Heath+20Schiesser+22+20+3Cheath+40idealab+2Ecom+3E+40ENRON@ENRON.com]
Sent: Tuesday, June 26, 2001 1:43 AM
To: Oxley, David
Subject: thank you / proposed changes to offer


Thank you for arranging for a nice weekend for Megan and me, and for setting-up a great day of interviews. Megan concluded the weekend comfortable with Houston and open to making the move (although we still didn't see the 70 degree weather you mentioned). I enjoyed the opportunity to visit with everyone you arranged and Greg was good enough to invest a couple of hours with me at the end of the day discussing the Xcelerator in detail.

While I am excited about the opportunity to have tremendous impact at Enron, I'm also realistic about the challenges I face as an outsider working on a largely undefined and untested project with mixed support outside of the top leadership team. I am up for the challenge, but there are a few modifications I would like to make to your offer to mitigate these risks and ensure that I would have the runway necessary to successfully build this effort. Greg asked that I relay these changes to you so the two of you could discuss them. With these following changes, I would be excited to join the team and make the Xcelerator a success.

1. Change monthly salary to $16,667 ($200k/year)
2. Establish the top 65% performance rating ($200,000) as the minimum bonus for 2001 (pro-rated) and 2002, to be pro rated if terminated by Enron. (Of course, this would not apply if I am terminated "for cause" or resign.)
3. Six months continuation of salary and benefits in the event that I am terminated by Enron within 24 months of joining the company. (Again, not applicable if "for cause" or resign.)
4. Allow me to commute from my home in LA for up to 90 days. (We'd anticipate more like 45-60, but we have commitments until early August and will need to re-lease our home.)
5. Allow for 1 day of vacation in July and 1 week in August (trips with Megan's family to which I am already committed.)

Please feel free to contact me if you have any questions or comments. I can be reached via cell phone at 626-278-1746.

Thanks again.


Heath Schiesser