Hi Kate,

Thanks for setting up the telephone informal discussion with Sharad so that I 
can make him more comfortable with what's on offer - I really think it will 
make the difference.  As you mentioned, the agency fee goes up from 25% to 
30% at 50,000, hence the offer of 49,000.  I guess, as you mentioned, we can 
keep in reserve the possibility of an element of sign on bonus to get him 
over the decision hump.

Regards & Thanks,

Anjam