Geoff,

The vesting for restricted stock is 1/3 on first anniversary of signing, and 1/3 on the next two anniversaries of signing.

Let me know if you have any other questions.

Michelle

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Michelle Cash
Enron North America Corp.
1400 Smith Street, EB 3823
Houston, Texas 77002
(713) 853-6401
michelle.cash@enron.com

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