Message-ID: <22406181.1075848247814.JavaMail.evans@thyme>
Date: Sun, 13 May 2001 13:19:00 -0700 (PDT)
From: steven.kean@enron.com
To: cynthia.barrow@enron.com
Subject: 
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Several employees have asked about the exercise policy on stock options.  
Specifically, they want to know what the exercise policy is on i) termination 
eg as a result of the prc process, ii) voluntary departure, iii) retirement, 
or iv)resignation; and to what extent do the rules vary across plans: i) 
AESOP, LTIP, deferred bonus etc.  The main focus is on the length of time to 
exercise.  I am concerned that there may be some odd incentives in the 
structure -- eg are severed employees allowed more time to exercise than 
employees who just leave voluntarily ( ie if you want to have a full three 
years to exercise options are you better off becoming a performance issue and 
getting severed than you would be if you simply left the company?