The attached reflects the changes to paragraph 2 to clarify the $250,000 payment (I have included a marked version to show the change as well as a clean version).  Upon receipt of HoustonStreet's signature pages, I will send by fax and fedex our signature pages to the letter agreement and the Investor Rights Agreement.

 
 

Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3893
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3490      




	Derek Gamble <dgamble@houstonstreet.com> 03/30/2001 09:30 AM 	   To: "'Travis.McCullough@enron.com'" <Travis.McCullough@enron.com>, Andy.Zipper@enron.com  cc: Derek Gamble <dgamble@houstonstreet.com>, "Frank Getman, HSE" <fgetman@houstonstreet.com>, MDunn@milbank.com, NAmin@milbank.com  Subject: RE: Revised HoustonStreet/Enron Letter Agreement	



Per the conversation between Andy and Frank, the paragraphs regarding the
issuance of the 763,305 shares at the time of the Interface Completion Date
have been removed.  Therefore, we are reverting back to the last draft of
the Letter Agreement, sent by Travis, on 3/28 and hereby attached.

I have accepted the changes and have attached a clean version of the
document.  This will be executed by Frank after the Board meeting and we
will fax a copy to you immediately thereafter.  Please be prepared to sign
the letter agreement at that time so that we can proceed with the wire
transfer of Series C monies.

Best Regards,

Derek Gamble


-----Original Message-----
From: Travis.McCullough@enron.com [mailto:Travis.McCullough@enron.com]
Sent: Thursday, March 29, 2001 2:02 PM
To: NAmin@milbank.com
Cc: Andy.Zipper@enron.com; dgamble@houstonstreet.com;
fgetman@houstonstreet.com; MDunn@milbank.com; NAmin@milbank.com;
travis.mccullough@enron.com
Subject: RE: Revised HoustonStreet/Enron Letter Agreement
Importance: High




Gentlemen:

Per my voicemail to Doug Dunn and Derek Gamble, I am attaching a revised
letter agreement addressing the issuance of the volume-based shares.  It
was our understanding that these would be issued to us as well as the
warrant shares, but we discovered that it was not covered by the agreement.

This draft is marked against the draft circulated last night.   Please call
if you have any questions.

(See attached file: Letter Agreement - HoustonStreetEnron.DOC)



Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3893
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3490




                    NAmin@milbank

                    .com                 To:     NAmin@milbank.com,

                                         dgamble@houstonstreet.com,

                    03/27/2001           fgetman@houstonstreet.com,

                    05:23 PM             travis.mccullough@enron.com,

                                         Andy.Zipper@enron.com

                                         cc:     MDunn@milbank.com

                                         Subject:     RE: Revised
HoustonStreet/Enron
                                         Letter Agreement









Please ignore the prior email.  Attached is the revised Letter
Agreement.
 <<Letter Agreement - HoustonStreetEnron.DOC>>

     --------FROM--------
     Nimish J. Amin
     Milbank, Tweed, Hadley & McCloy LLP
     One Chase Manhattan Plaza
     New York, NY  10005
     Tel: (212) 530-5351
     Fax: (212) 822-5351
     namin@milbank.com



This e-mail message may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee
or agent responsible for delivery of this message to the intended
recipient(s), you are hereby notified that any dissemination,
distribution or copying of this e-mail message is strictly prohibited.
If you have received this message in error, please immediately notify
the sender and delete this e-mail message from your computer.


(See attached file: Letter Agreement - HoustonStreetEnron.DOC)


Message-ID: <OF421D98C9.21FD62F7-ON86256A1E.00014D2C@enron.com>
From: Travis.McCullough@enron.com
To: NAmin@milbank.com
Cc: Andy.Zipper@enron.com, Derek Gamble <dgamble@houstonstreet.com>, 	"Frank Getman, HSE" <fgetman@houstonstreet.com>, MDunn@milbank.com, 	NAmin@milbank.com, travis.mccullough@enron.com
Subject: RE: Revised HoustonStreet/Enron Letter Agreement
Date: Wed, 28 Mar 2001 20:35:21 -0500
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2650.21)
Content-Type: multipart/mixed;	boundary="----_=_NextPart_002_01C0B92E.4C43054E"



Attached please find the draft agreement incorporating our comments.  With
the exception of Board approval, the changes were not intended to be
substantive, but more to conform the Agreement (with defined terms, etc. )
to the transaction documents that we already have in place.

Please feel free to contact me with any comments or questions.

(See attached file: Letter Agreement - HoustonStreetEnron.DOC)


Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3893
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3490




                    NAmin@milbank

                    .com                 To:     NAmin@milbank.com,

                                         dgamble@houstonstreet.com,

                    03/27/2001           fgetman@houstonstreet.com,

                    05:23 PM             travis.mccullough@enron.com,

                                         Andy.Zipper@enron.com

                                         cc:     MDunn@milbank.com

                                         Subject:     RE: Revised
HoustonStreet/Enron
                                         Letter Agreement









Please ignore the prior email.  Attached is the revised Letter
Agreement.
 <<Letter Agreement - HoustonStreetEnron.DOC>>

     --------FROM--------
     Nimish J. Amin
     Milbank, Tweed, Hadley & McCloy LLP
     One Chase Manhattan Plaza
     New York, NY  10005
     Tel: (212) 530-5351
     Fax: (212) 822-5351
     namin@milbank.com



This e-mail message may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee
or agent responsible for delivery of this message to the intended
recipient(s), you are hereby notified that any dissemination,
distribution or copying of this e-mail message is strictly prohibited.
If you have received this message in error, please immediately notify
the sender and delete this e-mail message from your computer.


(See attached file: Letter Agreement - HoustonStreetEnron.DOC)


 - Letter Agreement - HoustonStreetEnron.DOC 
 - Letter Agreement - HoustonStreetEnron.DOC 
 - Letter Agreement - HoustonStreetEnron1.clean.DOC