Greg,

FYI. I can see further escalation in compensation for quants.

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/28/2000 
04:15 PM ---------------------------


Pinnamaneni Krishnarao
02/18/2000 03:04 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:  
Subject: Problem with job offer for Puneet Mathur

Vince:
 This is regarding Puneet Mathur who we interviewed last week and decided to 
make an offer to join the Retail research team. I called him to inquire about 
his current compensation. His current base salary is $115,000 with a minimum 
bonus of 20%. His last pay raise and bonus were in September 1999 and he is 
expecting a raise and a bonus this September. The offer we would like to give 
him ($85-90K base) is obviously way below his expectations. And I don't see 
how we can offer him what he expects from us ($125K base - on par with mine), 
as it would be placing him well above Ronnie & Osman who are definitely more 
experienced and, in my view, more qualified. Let me know what to do.

Thanks,
Krishna.