Mike/Jeff,

The following attached documents are the draft MOU (still rough) and a summary of the document.  We have not yet showed either of these to Sato, but would plan to do so early next week.  We met with Freshfields for 2 hours the other day to get some basic thoughts and to gauge their interest in helping to draft the JV agreement.  They thought our MOU could be more simple and while I don't completely disagree, I'd like to make sure Sato is 90-95% there before we bring their senior guy(s) to Houston.  Regardless, we need to run both of you through where we are today and plans for the next couple of weeks.  I have a meeting and dinner with Nakatani (head of corp planning and guy who would sign MOU tomorrow).  From all indications it looks as though things are still on track.  There still are a number of items still to work out, but some of these might be deliberately left blank in the MOU.

Jeff:  I had traded voice mails with Mike about (among other things) having a conference call at 5:30 pm your Thurs (0730 Friday Tokyo).  I am not sure if this is confirmed, but pls let us know if this works or an alternative time.

Joe


 -----Original Message-----
From: 	McBride, Jane  
Sent:	Thursday, October 11, 2001 9:22 PM
To:	Hirl, Joseph
Cc:	Aronowitz, Alan; Thirsk, Jeremy
Subject:	SATO - MOU

  

Revised draft (without redlining as requested) and brief summary, for discussion with MM/JS attached.
Thanks.
Jane