1-number of questiojns on this. Answer is you would get severence and their plan is quite generous (presuming rif rather than performance reasomn for separation). I'll get you details.
2-no msa contains a release from enron to ubs and ee's who "are hired" by UBS.
3-true.

Can talk about 1 more if needed.

David
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-----Original Message-----
From: Calger, Christopher F. <Christopher.F.Calger@ENRON.com>
To: Kitchen, Louise <Louise.Kitchen@ENRON.com>; Oxley, David <David.Oxley@ENRON.com>
Sent: Sat Jan 19 20:10:20 2002
Subject: Contract

Louise and David,

Couple of comments on the contract: 

- If I am terminated w/o cause, either the non-compete/non-solicit provision shall not apply or I should be paid a severance.  As I see it, the bonus payments and incentive awards are  current incentive to be part of UBS and can not be considered severance in the event of termination w/o cause.   My preference is to be released from the non-compete/non-solicit provisions.  If UBS prefers severance, it should be a total payout of the contract: the existing payments and equity, base salary and anticipated bonus (1% of pro-forma bonus pool). 

- Doesn't Enron need to sign this as well or at least have a side letter that addresses the references to Enron?

-Two people have asked about accelerating the payout date so that the first payment is at closing, the second is 6 months from now and the equity vests at 12 months and then 18 months.  I would like to tell them that no one is getting that - true?

Regards,

Chris