I would like to recommend to following allocations of retention $'s - THIS CREATES NO NET IMPACT ON TOTAL $'S ON THE SPREADSHEET

Gain 575 cash 450 equity (Rogers Herndon, John Forney, Joe Wagner, Tom May)

Re-allocate in the following manner:
			Cash		Equity
	Arora		+75k		+75k
	Gilb-Smith	+25k		+25k
	King		+25k		+25k	
	Gupta		+25k		+25k
	Misra		+75k		+75k
	Suarez		+50k		+50k
	Carson		+25k		+25k
	Imai		+25k		+25k
	Steffes		+50k		+50k (we will lose key reg people if we don't pay)
	Nicolay		+50k		+50k ("                            "                            ") 
	Novosel		+25k		+25k ("                            "                            ") 

	

Please call with any questions.   I feel very good about keeping nearly all of these people at the levels above and we could lose some key ones if we don't do this.
Again, I am not spending any additional $'s - I am simply taking from other people who will not be part of UBS.

Kevin Presto
East Power Trading
Phone:  713-853-5035
Cell:  713-854-3923
Fax:  713-646-8272