Re: Price Posting Agreement and Side Letter for Review

fyi only - understand that you and Bruce have discussed many of the points
below with Justin already.
---------------------- Forwarded by Amita Gosalia/LON/ECT on 29/11/2000 12:12
---------------------------

Amita Gosalia
29/11/2000 11:08
To: Justin Boyd/LON/ECT@ECT
cc:

Subject: Re: Price Posting Agreement and Side Letter for Review - eMetra

Hi J

These are my initial comments and have not spoken to Andy about them. Andy
has sent his comments to you already.

Comments re Price Posting Agreement:

Enron should retain for itself the ability to choose which counterparties
can trade on its prices - the physical platform will be open to more than the
LME members.
Schedule A - do the phys metals guys intend to post prices for all the
metals in Schedule A? Currently we only post phys aluminium and copper on
EnronOnline.
Clause 4 - need to decide now who is responsible for building the
interface. Would prefer them to build.
Clause 4.1 - the mutually agreeable protocol to be developed and implemented
prior to Interface Completion Date.
Clause 5.1 - how does this work vis a vis our GTCs - especially for the
physical platform?
Clause 9.1.1 - date for physical platform to be 31 March 2001.
Clause 10 - confidentiality for specified period?
Clause 12, Line 5 - have some extra words "...theory of liability ..."
Clause 18 - need to refer to both eMetra platforms.

Comments re the Price Posting Agreement - Side Letter:

What is eMetra's fee structure for both platforms?
eMetra not to waive or change fee structure without notice to and consent of
Enron.
Itemised breakdown of fee income to include all participants.

Justin - we also need to deal with the indicative price feed that our
technology guys are currently working on - can we include in this agreement?

Regards

A

Justin Boyd
23/11/2000 20:04
To: Bruce Garner/LON/ECT@ECT, Amita Gosalia/LON/ECT@ECT, Andy
Zipper/Corp/Enron@Enron
cc:

Subject: Price Posting Agreement and Side Letter for Review - eMetra

I attach (very much) first drafts for your comments - thanks. In the
interests of reaching speedy commercial settlement, I have made the docs as
short and simple as possible.

Justin