Happy to get together on Monday to give you all detail.  Yes, you are right, there is no such thing as Schedule C or deferred account, it is cash.  The $1 mm cash in Schedule C is due back to TBG in January 2002 anyway, even if we do not restructure the deal to our favor.  The additional $800k is cash contributed by Office of the Chair (John L.) in December of 2000 to Settle December 99 and Jan 2000 with TBG.  When John gave his approval to complete this Settlement. He asked that I attempt to defer lump sum payment to December 1.  I moved that out to December 7. I will get on you calendar on Monday.

Frank

 -----Original Message-----
From: 	Kitchen, Louise  
Sent:	Friday, November 16, 2001 2:38 PM
To:	Vickers, Frank
Subject:	RE: How ya doing ?

Are we paying out $1.8mm over 10 months or immediately.

There is no such thing as Schedule C or deferred account - this is cash.  Let's discuss Monday.

 -----Original Message-----
From: 	Vickers, Frank  
Sent:	Friday, November 16, 2001 1:53 PM
To:	Kitchen, Louise
Subject:	How ya doing ?

Louise, difficult week for all of us. I hope that you are doing alright given the circumstances.  

I expect to have the fully executed documents back from TBG on Monday.  We will be paying them approx. $1.8 million to settle Jan 1, 01 through Oct 01 and convert the agreement to a baseload transaction beginning Nov 1, 01. In addition it eliminates a $14mm liability.  Payment will be made from combination of Schedule C and deferred account.  Will then book between $700k and $1mm.  As you are aware, John reviewed this situation several weeks ago and gave the go-ahead. I will contact you Monday prior to execution.


Frank