Greg,

How do you want me to proceed on this? Basically, recommendation is as follows:

Current contract expires 12/31/01
Propose new 2 year deal thru 12/31/03

Base salary		$300,000	(Currently $250,000)
Sign-on Cash		$100,000
Sign-on Options		$300,000
Sign-on R.Stock		$300,000

(ie bump on base, $100 in cash and $600 in equity)
No targets.

This is consistent broadly with what we offered Chris Calger (0/750), Rob Milnthorp (0/650), Dave Duran(0/650) and Kevin Presto(100/850). 

Attached are also his ENW comparisons and Ray Bowen.

David
 -----Original Message-----
From: 	Barnard, Marla  
Sent:	Tuesday, October 02, 2001 1:29 PM
To:	Oxley, David
Subject:	FW: Greg Piper Compensation - REVISED

Below is the revised comp. info. for Piper.  I noticed Pickering's salary was incorrect on the first draft and verified the correct amount with Kari.  Also, we broke out the signing equity and the LTIP amounts.  The total comp. remains the same.

 

 -----Original Message-----
From: 	Barnard, Marla  
Sent:	Tuesday, October 02, 2001 12:52 PM
To:	Oxley, David
Subject:	Greg Piper Compensation

Attached is information on Greg Piper's compensation for your review.  Based on the information provided, I made a recommendation of increasing his base to $275k, including a cash payment of $100k for signing and providing another $100k (1/2 restricted, 1/2 options) in equity.

Let me know when you would like to discuss.