This is basically how it was handled last year, except they are splitting Orig and Trading.  Regarding Assistants - we need to provide them the bonus targets rather than OOC just deciding.  Regarding noncommercial - again, we need to provide the targets (as we discussed earlier this week).

The biggest issue we have is how to use GCS and avoid the manual excel spreadsheet-GCS-excel spreadsheet exercise we went through last year.  We are working with Jeanie Slone and GCS team on this.  

VP's have to go through the final Corp-wide PRC, so that is one more step for the VP's and the ENA meeting outcome should be consistent with how all are rated going into the final meeting (ie., 10/80/10, 1-100).

Sheila





 -----Original Message-----
From: 	Oxley, David  
Sent:	Tuesday, October 16, 2001 4:36 PM
To:	Knudsen, Sheila A.; Joyce, Mary; Jones, Robert W.- HR Exec
Cc:	Cash, Michelle
Subject:	FW: 

What d'ya think?
 -----Original Message-----
From: 	Lavorato, John  
Sent:	Tuesday, October 16, 2001 2:40 PM
To:	Oxley, David
Subject:	FW: 



 -----Original Message-----
From: 	Kitchen, Louise  
Sent:	Tuesday, October 16, 2001 2:38 PM
To:	Lavorato, John
Subject:	RE: 

Same thing just prettier and with more details.  Suggest we send to HR for them to implement.

 << File: PRCprocess.xls >> 

 -----Original Message-----
From: 	Lavorato, John  
Sent:	Tuesday, October 16, 2001 1:17 PM
To:	Kitchen, Louise
Subject:	

Here is our plan on PRC.

Assistants:

Ranked 1,2,3 by supervisors - pay determined by Me and Louise.  No meetings.

Non Commercial but in North America:

Traditional ranking with the correct people addending the meetings.  Pay grid determined by OOC.

Analysts and Associates

Ranked as per Billy Lemmons %'s and then pay grid determined by OOC
I would like to see 25% - 65% - 10%.  Billy disagrees.  This would provide for a quick meeting rather than trying to split them into 4 groups with the top one excluding some awesome people.

Managers/Directors

Ranked from 1 to 100 in as many clusters as the groups see fit.  We are going to combine managers and directors into one table.  The ranking is based on this years performance is directly related to pay.  We will have two meetingss - one for traders and one for other commercial staff (orig/finance/etc).  We will not have a pay prc but will take the results of the rankings and work with individual leaders after the meetings to ensure the appropriate compensation.

We will also determine promotions during this meeting using different criteria.

VP's

We will rank all our VP's from 1 to 100 with a group of selected people - some VP's and some MD's.  
This too will be directly related to pay.

Cheers as you Brits say