Paul,

As promised last week, please find attached to this correspondence a draft term sheet which outlines six potential asset management outsourcing arrangements.  These various proposal structures signify initial steps representing general commercial concepts to be further refined by a transaction team.

I know that you are out until Wednesday, but I would be interested in the status of the Confidentiality Agreement within Marathon's legal department.  

I look forward to hearing from you.

Regards, 

Jean