enron stock options hpl employees yes original message kitchen louise sent thursday july 19 2001 12 45 pm oxley david cc redmond brian subject fw enron stock options hpl employees know got presume dealt team original message lbechterhoff aep com enron mailto imceanotes lbechterhoff 40 aep 2 ecom 40 enron enron com sent thursday july 19 2001 10 44 brown aaron executive comp jones robert w hr exec kitchen louise subject enron stock options hpl employees gentlemen attached copies correspondence fran mays regarding time period allowed exercise stock options involuntary termination enron due sale houston pipe line aep apparently various stock option plans allow different time periods exercise cases norm seems three years however employees able participate original employee stock option plan inception allowed period one year seems employees joined enron years following inception plan able participate limited degree allowed three year period case involuntary termination following facts material issue 1 fran mays represented hpl employees authoritative source information regarding enron benefits available employees would terminated due sale hpl 2 even though documentation various benefit plans exist documentation may clear cases subject interpretation authoritative enron source always prudent employee official company interpretation plan document rather rely interpretation 3 instance divestiture merger change control company personal experience often modifications exceptions benefit plans usually done interest fairness employees affected case sale hpl exception made since retire enron vesting stock options considered retired allowed vested stock options would lost monetary benefit exception significant since 25 unvested share options precedent 4 submitted fran mays supervisor question specifically addressed stock option exercise period 5 response specific written question submitted contained general q format response fran mays contains unequivocal direct statement period exercise vested options involuntary termination due sale hpl three years 6 disclaimer q document referenced plan documents disclaimer sort may useful address details specific issue allow clarification due ambiguity disclaimer negate reverse direct clear unequivocal statement fact logic allows application disclaimer statement fact among number hpl employees former enron employees made significant personal decisions based reliance statement q three years exercise options one year period currently allowed impact exercise price income tax consequences although recognize actual impact depends personal decisions exercise options case combined impact could significant aep perspective enron employees agreed stay hpl move aep sale added great deal value hpl acquisition seems reasonable treat former employees sense fairness penalize career decision benefited enron requesting time exercise original employee options extended three years would make stock option plan consistent enron stock option plans would settle ongoing issue representation hpl employees period would three years change would allow hpl employees acted loyal enron employees made significant career choice benefitted enron feel treated fairly enron l b echterhoff lbechterhoff aep com 832 668 1204 fran l mayes enron enronxgate 05 31 2001 01 18 pm lal echterhoff hou ect ect cc brian redmond hou ect enron subject stock option questions lal thanks comments verified corporate compensation group legal unfortunately enron able remedy situation plan document provisions supercede q fran original message echterhoff lal sent thursday may 31 2001 10 53 mayes fran l cc brian redmond hou ect enron subject stock option questions position general disclaimer q march 8 negated specific response question regarding period exercise stock options unacceptable answer specific question shown various plans various periods exercise answer question unequivocal statement period exercise three years sure many others made certain critical decisions based statement claim validity would suggest remedy situation allow stock options period exercise three years unless earlier due actual expiration date stated grant use term expiration date normal expiration date would occur options unexercised would apply anyone continuing employment enron regard position period exercise set particular stock option plan changed anything changed special provisions made particularly course transition due merger spin sale company special provisions made exclude hpl employees new employee stock option plan special provisions made provide 5 payment hpl employees lieu new stock option plan special provisions made consider hpl employees age 55 5 years service retirees allow vesting stock options feel sure special considerations certain employees lal echterhoff march 8 2001 q 1 transfer aep termination listed involuntary exercise vested options yes transfer aep treated involuntary termination reason divestiture enron 2 time frame exercise vested stock options period exercise vested options upon involuntary termination retirement death disability three 3 years fran l mayes enron enronxgate 05 30 2001 02 14 pm subject stock option questions received questions many employees concerning expiration date stock options q dated march 8 2001 stated three years exercise date options however page 1 document statement included regarding intent document stock option plan document govern provisions stock option program options listed stock option termination report list one year expiration three years stated question 16 document correct follows provision plan document employees options granted different stock option plan plan carries three year term expiration please review report carefully determine plan options issued additionally document intended provide general information page 1 included statement regarding plan document specifically case errors made document additionally stated employees could obtain copies plan document review enron provides plan documents employees familiarize plan make decisions based plan document apologize confusion may caused however plan options granted official document enron determines termination date please call need discuss options however understand speak regarding employees compensation options