Hey Bruce,

The 600 and 725 are guaranteed, yes.  I didn't mean to imply Cinergy wouldn't pay out; I meant more i'm basically comparing startup prospects with established company/operations prospects.  Startup prospects are, I think, more risky.

Also, I realize there are distinct advantages from living in Houston.  My "reluctance" is more of a family/moving type of thing.  It is an issue, but not a huge one.

Thanks,

Sean

 -----Original Message-----
From: 	"Sukaly, Bruce" <bruce.sukaly@cinergy.com>@ENRON [mailto:IMCEANOTES-+22Sukaly+2C+20Bruce+22+20+3Cbruce+2Esukaly+40cinergy+2Ecom+3E+40ENRON@ENRON.com] 
Sent:	Wednesday, May 23, 2001 3:54 PM
To:	Crandall, Sean
Subject:	RE:

Thanks for the update.  I will forward this information.  I assume that the
low numbers are guaranteed that no matter what happens to you or the company
you will receive the min amount.  Is that true?  As far as Cinergy having a
payout record- it does.  The bonus plan pays out 17% of profits, I don't
think there is any other company paying that kind of money.  They paid on it
last year.  However, the P&L has to be there, but the money was distributed.
Also they pay on NPV of the deals so accounting doesn't enter into
performance.  I think that is unique as well.

As far as Houston goes, I can show you parts of the city that are beautiful
and the commute is easy with lots of great neighborshood at tremendous
value.  I'm 15 minutes from every venue (sport, education, theatre, musuems)
in the fourth largest city in America.  In addition, your family will not be
trapped to one employer.  I lived in a few places and visited numerous
others, I think its the best value city in the country.  In addition, with
the kind of money you will be making there is no state income in Texas.  And
being in the energy trading business, it has no peer.


-----Original Message-----
From: Sean.Crandall@enron.com [mailto:Sean.Crandall@enron.com]
Sent: Wednesday, May 23, 2001 5:14 PM
To: bruce.sukaly@cinergy.com
Subject: RE:


Down to brass tacks, eh?  This is always the interesting part.  Quite
frankly Bruce, it's a pretty good job market.  Basically I'm looking at two
other prospects.  The first will require me to sign a 2-year contract, the
second will not.  The base component with the first is going to be around
$275/year.  The second is going to be around $250/year.   As far as
incentive bonus goes, I'm looking at about a minimum of $450 for the first
to about a max of $750.  At the second I'm looking at a min of about $350
to about a max of $900.  So over a one year period, we're looking at about
$725 to $1.025M for prospect 1, and $600 To $1.15M for prospect 2.

In terms of location, both prospect 1 and 2 are in attractive locations for
me.  Prospect 1 is in a VERY attractive location.  To be honest, I'm not a
big buyer of Houston, so I have to factor that into the equation.
Secondly, both prospects are big, well entrenched players, so I'm pretty
confident of the above numbers.  While I'm pretty excited about the
prospects of being on the "ground floor" with Cinergy, I also have to
recognize Cinergy doesn't have a P&L track record for me to assess the
probability of the incentive payout.  For that reason, I think, I would
require a fairly large guaranteed number the first year, while still
participating in Cinergy's incentive program.  The second year I would be
willing to renegotiate the guaranteed number if we had our feet underneath
us and it looked like we had the room to prove ourselves and generate some
serious money for the company.

Given what you guys have in mind, I honestly think I can help you achieve
your goals more quickly, and with less risk.  I also think there is serious
money to be made with the right team--I've seen it happen at Enron.

No matter what happens, I appreciate you taking the time.  Please also
extend my thanks to everyone I had the opportunity to meet in Cincinnati.

    -----Original Message-----
   From:   "Sukaly, Bruce" <bruce.sukaly@cinergy.com>@ENRON

[mailto:IMCEANOTES-+22Sukaly+2C+20Bruce+22+20+3Cbruce+2Esukaly+40cinergy+2Ec
om+3E+40ENRON@ENRON.com]


   Sent:   Wednesday, May 23, 2001 1:55 PM
   To:     Crandall, Sean
   Subject:  RE:

   Your meeting went really well, everyone like you a lot.  We are having a
   pow-wow tomorrow afternoon, and we should have something for you real
   soon
   after that.  Just as a reference point, what is the compensation package
   you
   have now and what are you expecting?

   > -----Original Message-----
   > From:      Crandall, Sean [mailto:Sean.Crandall@ENRON.com]
   > Sent:      Wednesday, May 23, 2001 2:59 PM
   > To:   Sukaly, Bruce
   > Subject:
   >
   >
   > Hey Bruce,
   >
   > Thanks for the chance to meet you and the people you work with.  I was
   > just wondering where we are at now.  If you get a chance, either
   e-mail me
   > or give me a call.
   >
   > Thanks again,
   >
   > Sean
   >

    - C.DTF << File: C.DTF >>