Message-ID: <31803030.1075861580482.JavaMail.evans@thyme> Date: Wed, 14 Nov 2001 10:15:41 -0800 (PST) From: kay.mann@enron.com To: t..hodge@enron.com Subject: from the merger agreement Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Mann, Kay X-To: Hodge, Jeffrey T. X-cc: X-bcc: X-Folder: \JHODGE (Non-Privileged)\Hodge, Jeffrey T.\Deleted Items X-Origin: Hodge-J X-FileName: JHODGE (Non-Privileged).pst I know there's a lot of anxiety about severance, reflecting the possibility that the existing Enron severance plan might be changed. I noticed in the merger agreement that a "floor" was set on severance. Have you heard anything about what Dynegy has for severance? I know there are exceptions, but I was just curious, as lots of folks are very nervous. From the merger agreement: From and after the Effective Time, Enron employees, excluding those covered by collective bargaining agreements, will be provided severance benefits that are at least comparable in all respects to the severance benefits provided by Dynegy under its severance benefit plans and arrangements for similarly situated employees. For purposes of the foregoing obligation regarding severance, the term "severance benefit plans and arrangements" shall not include any individually negotiated agreements. The foregoing notwithstanding, nothing in this Section 7.16 shall obligate Dynegy to provide severance benefits if an employee is offered a comparable position, benefits and salary with a third-party purchaser of the business operation in which the employee works without regard to the form of the third-party purchase