No, it should remain the top 25 percent, because it is the top percentage of the criteria, not the peer group.  Thanks.  Michelle

 -----Original Message-----
From: 	Butler, Pam  
Sent:	Tuesday, June 26, 2001 7:10 PM
To:	Sweet, Twanda; Cash, Michelle
Subject:	RE: Performance Bonus Language

Twanda, thanks for sending me this language.  
Michelle, since the top two categories are 35% should this be changed to top 35%?
 -----Original Message-----
From: 	Sweet, Twanda  
Sent:	Tuesday, June 26, 2001 6:16 PM
To:	Butler, Pam
Subject:	Performance Bonus Language



Performance Bonus:	Employee may be eligible to participate in the Enron Corp. Annual Incentive Plan ("Plan") or any appropriate replacement bonus plan of ENA.  All Performance Bonuses are discretionary and shall be paid in accordance with the terms and provisions of the Plan and other criteria established by ENA, a portion of which may be paid in cash and a portion of which may be paid in stock options and/or restricted stock. 

			Provided that Enron meets its earnings targets and provided that Employee meets other performance-related criteria, including being rated within the top 25% of the performance criteria under Enron's annual performance rating system or its equivalent for calendar year ?TargetBonusYear?, Employee's annual bonus amount under the Plan for calendar year ?TargetBonusYear?, payable in ?TargetBonusPayableYear?, shall be based on an annual bonus target of $_________________.