EXHIBIT 10.3
EXECUTION COPY
REORGANIZED DEBTOR
PLAN ADMINISTRATION AGREEMENT
This REORGANIZED DEBTOR PLAN ADMINISTRATION AGREEMENT (this
"Agreement"), dated as of November 17, 2004, between Enron Corp., an Oregon
corporation ("Enron"), each of the other Debtors that are signatories hereto and
Stephen Forbes Cooper, LLC (the "SFC").
WITNESSETH:
WHEREAS, commencing on December 2, 2001, Enron and certain of its
subsidiaries filed voluntary petitions for relief under chapter 11 of the
Bankruptcy Code (as defined in the Plan); and
WHEREAS, by order, dated July 15, 2004, the Bankruptcy Court
confirmed the Supplemental Modified Fifth Amended Joint Plan of Affiliated
Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code, dated July
2, 2004, including, without limitation, the Plan Supplement and all schedules
and exhibits thereto (as the same has been or may be amended, the "Plan"); and
WHEREAS, in accordance with Article XXXVI of the Plan, certain
duties and responsibilities shall be borne by the Reorganized Debtor Plan
Administrator; and
WHEREAS, effective upon the Effective Date of the Plan, Enron
desires to appoint SFC to serve as Reorganized Debtor Plan Administrator under
the Plan, and SFC is willing to serve in such capacity, in each case upon the
terms set forth herein and pursuant to the Plan;
NOW, THEREFORE, the parties hereby agree as follows.
1. Definitions. Capitalized terms used herein without definition shall
have the respective meanings assigned to such terms in the Plan.
2. Appointment. Enron hereby appoints SFC to serve as Reorganized
Debtor Plan Administrator under the Plan, and SFC hereby accepts such
appointment and agrees to serve in such capacity, in each case effective upon
the Effective Date of the Plan. On the Effective Date, compliance with the
provisions of the Plan shall become the general responsibility of the
Reorganized Debtor Plan Administrator, as an employee of the Reorganized
Debtors, (subject to the supervision of the Board of Directors of the
Reorganized Debtors) pursuant to and in accordance with the provisions of the
Plan and this Agreement.
3. Responsibilities. The responsibilities of the Reorganized Debtor
Plan Administrator shall include (a) facilitating the Reorganized Debtors'
prosecution or settlement of objections to and estimations of Claims, (b)
prosecution or settlement of claims and causes of action held by the Debtors and
Debtors in Possession, (c) assisting
the Litigation Trustee and the Special Litigation Trustee in performing their
respective duties, (d) calculating and assisting the Disbursing Agent in
implementing all distributions in accordance with the Plan, (e) causing to be
filed all required tax returns and paying taxes and all other obligations on
behalf of the Reorganized Debtors from funds held by the Reorganized Debtors,
(f) quarterly reporting (in a manner determined by the Reorganized ENE Board or
as otherwise required by the Bankruptcy Code, the Plan or by the Bankruptcy
Court) to the Bankruptcy Court of the status of the Claims resolution process,
distributions on Allowed Claims and prosecution of causes of action, (g)
liquidating the Remaining Assets and providing for the distribution of the net
proceeds thereof in accordance with the provisions of the Plan, (h) consulting
with, and providing information to, the DCR Overseers in connection with the
voting or sale of the Plan Securities to be deposited into the Disputed Claims
reserve to be created in accordance with Section 21.3 of the Plan, and (i) such
other responsibilities as may be vested in this Agreement pursuant to the Plan,
this Agreement or Bankruptcy Court order or as may be necessary and proper to
carry out the provisions of the Plan. Notwithstanding anything to the contrary
the Plan Administrator shall report to, and follow, as if it were an officer of
each of the Reorganized Debtors, the direction, guidance and oversight of the
Board of Directors of Reorganized ENE.
4. Powers. The powers of the Reorganized Debtor Plan Administrator
shall, without any further Bankruptcy Court approval in each of the following
cases, include (a) the power to invest funds in, and withdraw, make
distributions and pay taxes and other obligations owed by the Reorganized
Debtors from funds held by the Reorganized Debtor Plan Administrator and/or the
Reorganized Debtors in accordance with the Plan, (b) the power to compromise and
settle claims and causes of action on behalf of or against the Reorganized
Debtors, other than Litigation Trust Claims, Special Litigation Trust Claims and
claims and causes of action which are the subject of the Severance Settlement
Fund Litigation, and (c) such other powers as may be vested in or assumed by the
Reorganized Debtor Plan Administrator pursuant to the Plan, this Agreement or as
may be deemed necessary and proper to carry out the provisions of the Plan.
5. Certain Limitations on Powers. Notwithstanding anything to the
contrary contained herein or in the Plan, prior to taking the following actions,
the Plan Administrator shall be required to obtain approval of the board of
directors of Reorganized ENE and, if requested by the board of directors, the
Bankruptcy Court:
(a) Allowance of Claims. Compromise or settle any Claim to the
extent such resolution (i) provides for the allowance of a Claim against a
Debtor that exceeds one hundred million dollars ($100,000,000), (ii) provides
for the allowance of a Claim against a Debtor that exceeds one million dollars
($1,000,000) and constitutes more than twenty percent (20%) of such Debtor's
Book Value (hereinafter defined) of Claims, (iii) provides for the allowance of
a Claim that exceeds twenty million dollars ($20,000,000) and constitutes more
than one hundred five percent (105%) of such Claim's Book Value and (iv)
provides for the allowance of a Claim of a current or former employee or insider
of the Debtors that exceeds one hundred thousand dollars ($100,000).
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(b) Disposition of Assets. Enter into definitive documentation
concerning any sale, transfer or other disposition (a "Sale") of any Asset that
has a Book Value greater than two million dollars ($2,000,000) unless (i) the
aggregate proceeds to be received from such Sale are exclusively Cash or Cash
Equivalents, (ii) the aggregate proceeds from such Sale exceed ninety-five
percent (95%) of the Book Value of such Asset and (iii) the documentation for
the Sale specifies that the transaction is on an "as is, where is" basis, with
no indemnification obligations of the Reorganized Debtors and no survival of
representations, warranties or covenants made by the Reorganized Debtors.
(c) Causes of Action. Compromise or settle any claim or cause of
action that constitutes an Asset for which the initial amount demanded exceeds
two million dollars ($2,000,000).
As used in this section, "Book Value" shall mean the value
attributed to an Asset or Claim in Appendix C to the Disclosure Statement and/or
in any supporting documentation and information upon which Appendix C is based.
6. Other Activities. The Reorganized Debtor Plan Administrator shall be
entitled to perform services for and be employed by third parties, provided that
such performance or employment affords the Reorganized Debtor Plan Administrator
sufficient time to carry out its responsibilities as Reorganized Debtor Plan
Administrator.
7. Representatives.
(a) To satisfy its obligations under the Agreement to provide
services to the Reorganized Debtors, SFC may utilize (i) the Associate Directors
of Restructuring (each an "Associate Director") approved by Enron's Board of
Directors and/or the Bankruptcy Court prior to the Effective Date to provide
services to the Debtors on behalf of SFC, and (ii) each Associate Director
designated by SFC after the Effective Date (A) in a written notice given to
Enron's Board of Directors or (B) in a verbal notice given to Enron's Board of
Directors as reflected in the Minutes of a meeting of such Board of Directors,
to provide services to the Reorganized Debtors pursuant to this Agreement (each
a "Post Effective Date Appointed Associate Director"), provided, that, (X) if
Enron's Board of Directors objects to the use of any Post Effective Date
Appointed Associate Director by SFC for such services, SFC shall obtain the
approval of the Bankruptcy Court, after notice and an opportunity for hearing,
and (Y) if Enron's Board of Directors approves of the use of a Post Effective
Date Appointed Associate Director by SFC for such services, SFC shall follow and
satisfy the notice procedures with regard to such Post Effective Date Appointed
Associate Director set forth in Schedule 2, in each case prior to utilizing such
Post Effective Date Appointed Associate Director.
(b) In the event that the Board of Directors of Enron requests
that SFC reduce the number of Associate Directors utilized to provide the
services set forth herein, and SFC refuses to make such a reduction, such Board
of Directors may request the Bankruptcy Court to reduce the number of Associate
Directors authorized to provide such services. If the Bankruptcy Court grants
such request, the Associate Directors authorized
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to provide such services pursuant to clause (a) above shall be adjusted as set
forth in the applicable order of the Bankruptcy Court.
(c) Prior to the Effective Date, SFC shall cause Stephen F. Cooper
("Cooper") and each of SFC's other employees and principals that will provide
services on behalf of the Reorganized Debtors (collectively with Cooper, the
"Representatives") pursuant to this Agreement to enter into an agreement in the
form attached hereto as Exhibit A, and shall undertake diligent efforts to cause
each Representative to comply with the terms and conditions of such agreement.
8. Compensation and Reimbursement of SFC.
(a) SFC's compensation shall consist of the following:
(i) an annual payment of $1,320,000, payable monthly in the
amount of $110,000 in immediately available funds throughout the term hereof for
the services of SFC. The initial monthly payment under this Agreement shall be
on the Effective Date in a prorated amount based upon the remaining days
following the Effective Date in the month of the Effective Date. The monthly
payment for each subsequent month shall be on the first day of each calendar
month for which the services are being provided.
(ii) an annual payment of $864,000 for each Associate
Director permitted to provide services to the Reorganized Debtors pursuant to
Section 7(a) on the basis of 160 hours per month as a full time equivalent
("FTE") for an Associate Director, such fee to be payable monthly in the amount
of $72,000 in immediately available funds. The initial monthly payment under
this Agreement shall be on the Effective Date in a prorated amount based upon
the remaining days following the Effective Date in the month of the Effective
Date. The monthly payment for each subsequent month shall be on the first day of
each calendar month and will be determined as set forth in Section 8(c).
Additionally, a quarterly adjustment to the amounts paid monthly pursuant to
Sections 8(a) and 8(b) shall be made beginning with the first calendar quarter
ending after the Effective Date, in accordance with Section 8(c).
(iii) a fee requested by SFC of, and subject to the approval
of, Enron's Board of Directors and the Bankruptcy Court, which shall be
reasonable under the circumstances, to be fixed and paid promptly after the
earlier of either (i) termination of this Agreement other than for Cause
(hereinafter defined)(in addition to any fee payable to Section 12(d)), or (ii)
liquidation of substantially all of the Reorganized Debtors' material assets, in
an amount to take into account, among other things, SFC's dedication to
Reorganized Debtors after the effectiveness of the Plan to the exclusion of
other business, comparable fees, results achieved, value maximization, and
diligent progress and efforts towards the liquidation of the Reorganized Debtors
and their affiliates; provided, however, if Enron's Board of Directors does not
approve such fee requested by SFC, SFC may request approval of such fee by the
Bankruptcy Court, in
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which case such fee shall be payable as approved by the Bankruptcy Court without
approval of Enron's Board of Directors.
(b) The Reorganized Debtors shall reimburse SFC for all reasonable
out-of-pocket expenses incurred and billed consistent with practices used prior
to the Effective Date, including, but not limited to, reasonable costs of
travel, reproduction, typing, computer usage, reasonable fees of legal counsel
(including legal counsel to draft and enforce this Agreement) and other similar
direct expenses and any and all taxes (other than state, local and federal
income taxes) on any of the foregoing.
(c) The Reorganized Debtors shall pay to SFC the compensation set
forth in Section 8(a) and shall reimburse expenses in accordance with Section
8(b) based upon the submission of monthly invoices by SFC setting forth the
number of Associate Directors for the prior calendar month, a general
description of the services provided and a detailed listing of the expenses
sought to be reimbursed. SFC shall make a retroactive upward or downward
adjustment on a quarterly basis to the fee calculated pursuant to Sections
8(a)(i) and 8(a)(ii) hereof based on the actual level of efforts (i.e., the
FTE's actually worked during the quarter) and experience (as indicated on
Schedule 1 by the normal billing rate for similar engagements) of the
individuals providing services. Any hourly rate increases shall only be
effective to the extent they are generally effective for other similar clients
of SFC or Kroll Zolfo Cooper LLC. Such retroactive adjustment shall be reported
to the Board of Directors of Enron and shall be binding upon the Reorganized
Debtors, unless the Board of Directors of Enron affirmatively objects to the
calculation of such adjustment and gives written notice of such objection to SFC
within ten (10) days after date such adjustment is reported to the Board of
Directors. In the event of such objection SFC may seek approval of such
adjustment from the Bankruptcy Court, in which case such adjustment shall be
binding upon the Reorganized Debtors only upon its approval by the Bankruptcy
Court.
(d) Notwithstanding anything to the contrary, the fees and
expenses payable to SFC pursuant to the terms of this Agreement shall serve as
sole compensation and reimbursement for all services rendered by SFC or any of
its employees or affiliates to the Reorganized Debtors or any of the Reorganized
Debtors' Affiliates as Plan Administrator, Disbursing Agent or trustee of any
trust formed pursuant to the Plan (the "Services"). No other fees or expenses
shall be paid on account of the rendering of such Services.
(e) Each time that SFC adjusts the hourly rates charged for its
Associate Directors, it shall provide a notice setting forth such rates to
Enron's Board of Directors as promptly as practicable after such rates are
determined.
9. Confidentiality.
(a) The Reorganized Debtors and their Boards of Directors shall
treat any information received from SFC or any Representative as confidential,
and, except as specified in this Section 9(a), will not publish, distribute or
otherwise disclose in any
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manner any information developed by or received from SFC or any Representative
without SFC's or such Representative's prior approval. Such approval shall not
be required if (i) the information sought is required to be disclosed by an
order binding on the Reorganized Debtor and issued by a court having competent
jurisdiction over such Reorganized Debtor and such information is disclosed only
pursuant to the terms of such order, (ii) such information is required to be
disclosed by applicable law based on the advice of legal counsel, (iii) the
information is otherwise publicly available other than, to the knowledge of such
disclosing Person, through disclosure by a party in breach of a confidentiality
obligation with respect thereto, or (iv) any of such Boards of Directors
determines that it is required to disclose such information to satisfy its
fiduciary duties and such Board of Directors obtains (A) approval of the
Bankruptcy Court to make such disclosure, or (B) an opinion of counsel affirming
that such disclosure is required.
(b) SFC agrees, and shall cause each Representative, to treat any
information received from the Reorganized Debtors or their representatives as
confidential, and, except as specified in this Section 9(b), will not publish,
distribute or otherwise disclose in any manner any information developed by or
received from the Reorganized Debtors or their representatives without the
Enron's prior approval. Such approval shall not be required if (i) the
information sought is required to be disclosed by an order binding on SFC or
such Representative, as the case may be, and issued by a court having competent
jurisdiction over SFC or such Representative, as the case may be, and such
information is disclosed only pursuant to the terms of such order, (ii) such
information is required to be disclosed by applicable law based on the advice of
legal counsel or (iii) the information is otherwise publicly available other
than, to the knowledge of such disclosing Person, through disclosure by a party
in breach of a confidentiality obligation with respect thereto.
10. Exculpation; Indemnification.
(a) None of the Reorganized Debtor Plan Administrator nor any
Representative shall be liable to any Persons or Entities, including, without
limitation, holders of Claims or Equity Interests or other parties in interest,
for any claim, cause of action and other assertion of liability arising out of
the discharge of the powers and duties conferred upon the Reorganized Debtor
Plan Administrator by the Plan or any order of the Bankruptcy Court entered
pursuant to or in furtherance of the Plan, or applicable law, except for actions
or omissions to act arising out of recklessness, gross negligence, willful
misconduct, breach of fiduciary duty or knowing violation of law of Reorganized
Debtor Plan Administrator or such Representative. No holder of a Claim or Equity
Interest or other party in interest will have any claim or cause of action
against the Reorganized Debtor Plan Administrator or any Representative for
making payments in accordance with the Plan or for implementing the provisions
of the Plan, except for actions or omissions to act arising out of recklessness,
gross negligence, willful misconduct, breach of fiduciary duty or knowing
violation of law.
(b) The Reorganized Debtors shall indemnify and hold harmless the
Reorganized Debtor Plan Administrator and each Representative to the fullest
extent
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permitted under (i) the Articles of Incorporation and by-laws of the Reorganized
Debtors, (ii) the laws of the jurisdiction in which the applicable Reorganized
Debtor is organized applicable to an officer of a corporation.
11. Term. This Agreement shall terminate on the earlier of: (a) the
termination of the Reorganized Debtors Plan Administrator by the board of
directors of Reorganized ENE with or without Cause or the effectiveness of its
resignation pursuant to Section 12 and (b) thirty (30) days following the
closing of the bankruptcy cases of the Reorganized Debtors. Notwithstanding the
foregoing, the Bankruptcy Court, upon motion by the board of directors of
Reorganized ENE on notice with an opportunity for a hearing at least three (3)
months before the expiration of the original term or an extended term, may
extend, for a fixed period, the term of this Agreement if it is necessary to
facilitate or complete the transactions contemplated herein and by the Plan. The
Bankruptcy Court may approve multiple extensions of the term of this Agreement.
12. Removal & Resignation of Reorganized Debtor Plan Administrator.
(a) Removal. The Reorganized Debtor Plan Administrator may be
removed with or without Cause by resolution of the board of directors of
Reorganized ENE, a copy of which shall be delivered to the removed Reorganized
Debtor Plan Administrator, and, in the case of a Section 12(a)(v) removal, such
notice shall be provided not less than ten (10) days prior to the effectiveness
of such removal. For purposes of this Agreement, "Cause" shall be defined as:
(i) the Reorganized Debtor Plan Administrator's theft or embezzlement or
attempted theft or embezzlement of money or tangible or intangible assets or
property; (ii) the Reorganized Debtor Plan Administrator's violation of any law
(whether foreign or domestic), which results in a felony indictment or similar
judicial proceeding; (iii) the Reorganized Debtor Plan Administrator's
recklessness, gross negligence, willful misconduct, breach of fiduciary duty or
knowing violation of law, in the performance of its duties; (iv) the Reorganized
Debtor Plan Administrator's failure to perform any of its other material duties
under this Agreement; or (v) the Reorganized Debtor Plan Administrator's failure
to follow any lawful direction of the board of directors of Reorganized ENE with
respect to the responsibility of the Reorganized Debtor Plan Administrator as
specified in Sections 3, 4 and 5 above; provided, however, the Reorganized
Debtor Plan Administrator has been given (A) a reasonable period to cure any
alleged Cause under clauses (iii) (other than willful misconduct) and (iv) and
(B) ten (10) days to cure any alleged Cause under clause (v).
(b) Simultaneous Removal and Resignation. To the extent that the
Reorganized Debtor Plan Administrator is removed pursuant to the terms specified
in Section 12(a) above (a "Removal") or the Reorganized Debtor Plan
Administrator resigns pursuant to the terms specified in Section 12(c) below (a
"Resignation"), and such Reorganized Debtor Plan Administrator is then serving
in any other capacity for or on behalf of any of the Reorganized Debtors or any
of their Affiliates or is serving as Disbursing Agent or as trustee of any trust
formed pursuant to the Plan (service by the Reorganized Debtor Plan
Administrator in each such additional capacity, a "Duty" and
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collectively, the "Duties"), the Reorganized Debtor Plan Administrator shall be
deemed to be terminated (for all purposes and without any further action) from
each of its other Duties upon its Removal or Resignation.
(c) Resignation. SFC may resign as Reorganized Debtor Plan
Administrator hereunder upon delivery of forty five (45) days' written notice to
the board of directors of Reorganized ENE. If a successor Reorganized Debtor
Plan Administrator has not been appointed by the end of such forty five (45) day
period, the Reorganized Debtor Plan Administrator shall continue as Reorganized
Debtor Plan Administrator for up to an additional forty five (45) days if so
requested by the board of directors of Reorganized ENE pursuant to the terms
specified herein.
(d) Termination Fee. In the event of a termination of the
Reorganized Debtor Plan Administrator without Cause, the Reorganized Plan
Administrator shall be paid a fee of $2,900,000. This fee represents liquidated
damages intended by the parties to compensate SFC for the lost opportunity costs
and reallocation of resources upon termination without Cause.
(e) Expiration of Rights and Obligations. The duties,
responsibilities and powers of the Reorganized Debtor Plan Administrator and the
Reorganized Debtors will terminate upon the termination of this Agreement.
13. Notices. Any notices or other communications required or permitted
hereunder shall be sufficiently given if in writing and personally delivered or
sent by registered or certified mail, postage prepaid, return receipt requested,
or sent by facsimile, addressed as follows or to such other address as any party
shall have given notice of pursuant hereto:
In the case of the Reorganized Debtor Plan Administrator:
Stephen Forbes Cooper LLC
900 Third Avenue
New York, New York 10022
Telephone: (212) 213-5555
Telecopier: (212) 213-1749
Attn: Stephen F. Cooper
with a copy to:
Stephen Forbes Cooper LLC
101 Eisenhower Parkway, 3rd Floor
Roseland, New Jersey 07068
Telephone: (973) 618-5100
Telecopier: (973) 618-9430
Attn: Elizabeth S. Kardos,
General Counsel
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In the case of Enron or any other Debtor:
Enron Corp.
1221 Lamar, Suite 1600
Houston, Texas 77010-1221
Attention: General Counsel
Telephone: (713) 853-6161
Telecopier: (713) 853-3129
with a copy to:
Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, New York 10153
Attention: Brian S. Rosen, Esq.
Telephone: (212) 310-8000
Telecopier: (212) 310-8007
14. Jurisdiction. The Bankruptcy Court shall have the continuing and
exclusive jurisdiction to interpret and enforce this Agreement and to determine
all disputes arising hereunder.
15. Governing Law; Jurisdiction; Board Standing.
(a) This Agreement shall be governed and construed in accordance
with the laws of the State of New York, without giving effect to rules governing
the conflict of laws. Without limiting any Person or Entity's right to appeal
any order of the Bankruptcy Court, (i) the Bankruptcy Court shall retain
exclusive jurisdiction to enforce the terms of this Agreement and to decide any
claims or disputes which may arise or result from, or be connected with, this
Agreement, any breach or default hereunder, or the transactions contemplated
hereby, and (ii) any and all actions related to the foregoing shall be filed and
maintained only in the Bankruptcy Court, and the parties hereby consent to and
submit to the exclusive jurisdiction and venue of the Bankruptcy Court.
(b) In the event that (i) SFC makes a request of the Bankruptcy
Court with regard to any matter arising out of this Agreement, and any Board of
Directors of the Reorganized Debtors desires to object to the granting of such
request, or (ii) any Board of Directors of the Reorganized Debtors is required,
or desires, to obtain approval, or an order, of the Bankruptcy Court pursuant to
this Agreement, such Board of Directors may retain counsel or other advisors at
the reasonable expense of the Reorganized Debtor to advise or otherwise
represent such Board of Directors in connection with the matters specified in
(i) and (ii) of the clause (b), including, without limitation, to object to,
seek approval or an order with regard to, and/or appear at the hearing
regarding, such matters. Nothing in this clause (b) shall be deemed to require
the approval of any Board of Directors of the Reorganized Debtors for the
granting of any request by SFC of the Bankruptcy Court.
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16. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be an original, and which together shall
constitute a single instrument.
17. Entire Agreement. This Reorganized Debtor Plan Administrator
Agreement constitutes the entire agreement by and among the parties hereto
regarding the subject matter hereof. This Reorganized Debtor Plan Administrator
Agreement supersedes all prior and contemporaneous agreements, understandings,
negotiations, discussions, written or oral, of the parties hereto, relating to
any transaction contemplated hereunder, including without limitation the [set
forth all prior SFC Engagement Letters]; provided, however, this Agreement shall
not limit any compensation due to SFC for services provided prior to the
Effective Date pursuant to any other agreement or order of the Bankruptcy Court.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date first above written.
Enron Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Managing Director and
Assistant General Counsel
Enron Metals & Commodity Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron North America Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Power Marketing, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
PBOG Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
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Smith Street Land Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron Broadband Services, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Energy Services Operations, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Energy Marketing Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Energy Services, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
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Enron Energy Services, LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Transportation Services, LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
BAM Lease Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
ENA Asset Holdings L.P.
By: Blue Heron I LLC, General Partner
By: Whitewing Associates L.P., Sole
Member
By: Egret I LLC, Managing
Member
By:/s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Gas Liquids, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
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Enron Global Markets LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Net Works LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Industrial Markets LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Operational Energy Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Engineering & Construction Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
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Enron Engineering & Operational Services
Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Garden State Paper Company, LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Palm Beach Development Company, L.L.C.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Tenant Services, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Energy Information Solutions, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
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EESO Merchant Investments, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Federal Solutions, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Freight Markets Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Broadband Services, L.P.
By: Enron Broadband Services, Inc.,
General Partner
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Energy Services North America, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
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Enron LNG Marketing LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Calypso Pipeline, LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Global LNG LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron International Fuel Management Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Natural Gas Marketing Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
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ENA Upstream Company LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Liquid Fuels, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron LNG Shipping Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Chairman
Enron Property & Services Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron Capital & Trade Resources
International Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
18
Enron Communications Leasing Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Wind Systems, LLC, f/k/a
EREC Subsidiary I, LLC and successor to
Enron Wind Systems Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Wind Constructors LLC, f/k/a
EREC Subsidiary II, LLC and successor to
Enron Wind Constructors Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EnronWind Energy Systems LLC, f/k/a
EREC Subsidiary III, LLC and successor to
Enron Wind Energy Systems Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
19
EnronWind Maintenance LLC, f/k/a
EREC Subsidiary IV, LLC and
successor to Enron Wind Maintenance Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EnronWind LLC, f/k/a
EREC Subsidiary V,
LLC and successor to Enron Wind Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Intratex Gas Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Processing Properties, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Methanol Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
20
Enron Ventures Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
The New Energy Trading Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EES Service Holdings, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Wind Development LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
ZWHC LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
21
Zond Pacific, LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Reserve Acquisition Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EPC Estates Services, Inc., f/k/a
National Energy Production Corporation
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Power & Industrial Construction Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
NEPCO Power Procurement Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
22
NEPCO Services International, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Caribe Verde (SJG) Inc., f/k/a
San Juan Gas Company, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EBF LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Zond Minnesota Construction Company LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Fuels International, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
23
E Power Holdings Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
EFS Construction Management Services, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Management, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron Expat Services, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Artemis Associates, L.L.C.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
24
Clinton Energy Management Services, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
LINGTEC Constructors L.P.
By: Enron Power Construction
Company, General Partner
By: /s/ K.Wade Cline
---------------------------------------
Name: Stephen D. Dowd
Title: President and Chief
Executive Officer
EGS New Ventures Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Louisiana Gas Marketing Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Louisiana Resources Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
25
LGMI, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
LRCI, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Communications Group, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EnRock Management, LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
ECI-Texas, L.P.
By: Enron Broadband Services, Inc.,
General Partner
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
26
EnRock, L.P.
By: Enrock Management, LLC,
General Partner
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
ECI-Nevada Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Alligator Alley Pipeline Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron Wind Storm Lake I LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
ECT Merchant Investments Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
27
EnronOnLine, LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
St. Charles Development Company, L.L.C.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Calcasieu Development Company, L.L.C.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Calvert City Power I, L.L.C.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron ACS, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
28
LOA, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron India LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron International Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron International Holdings Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron Middle East LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
29
Enron WarpSpeed Services, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Modulus Technologies, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Telecommunications, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
DataSystems Group, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Risk Management & Trading Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
30
Omicron Enterprises, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS I, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS II, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS III, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS V, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
31
EFS VI, L.P.
By: EFS IV, Inc., General Partner
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS VII, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS IX, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS X, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS XI, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
32
EFS XII, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS XV, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS XVII, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Jovinole Associates
By: EFS I, Inc. and EFS XIII, Inc., it's
Partners
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS Holdings, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
33
Enron Operations Services LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Green Power Partners I LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
TLS Investors, L.L.C.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
ECT Securities Limited Partnership
By: ECT Securities GP Corp., General
Partner
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
ECT Securities LP Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
34
ECT Securities GP Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
KUCC Cleburne, LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron International Asset Management Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron Brazil Power Holdings XI Ltd.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Chairman
Enron Holding Company L.L.C.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
35
Enron Development Management Ltd.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Chairman
Enron International Korea Holdings Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron Caribe VI Holdings Ltd.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Chairman
Enron International Asia Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron Brazil Power Investments XI Ltd.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Chairman
36
Paulista Electrical Distribution, L.L.C.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron Pipeline Construction Services Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Pipeline Services Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Trailblazer Pipeline Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Liquid Services Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
37
Enron Machine and Mechanical Services, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Commercial Finance Ltd.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Chairman
Enron Permian Gathering Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Transwestern Gathering Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Gathering Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
38
EGP Fuels Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Asset Management Resources, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Brazil Power Holdings I Ltd.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Chairman
Enron do Brazil Holdings Ltd.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Chairman
Enron Wind Storm Lake II LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
39
Enron Renewable Energy Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Acquisition III Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Wind Lake Benton LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Superior Construction Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS IV, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
40
EFS VIII, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
EFS XIII, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Credit Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Power Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Richmond Power Enterprise, L.P.
By: Enron-Richmond Power Corp. and
Richmond Power Holdings, Inc.,
General Partners
By: /s/ K.Wade Cline
---------------------------------------
Name: Charles E. Schneider
Title: President and Chief
Executive Officer
41
ECT Strategic Value Corp.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Development Funding Ltd.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Chairman
Atlantic Commercial Finance, Inc.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
The Protane Corporation
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron Asia Pacific/Africa/China LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
42
Enron Development Corp.
By: /s/ K.Wade Cline
Name: K. Wade Cline
Title: President
ET Power 3 LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Nowa Sarzyna Holding B.V.
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Authorized Representative
Enron South America LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Enron Global Power & Pipelines LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
43
Cabazon Power Partners LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Cabazon Holdings LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Caribbean Basin LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: President
Victory Garden Power Partners I LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Oswego Cogen Company, LLC
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
Enron Equipment & Procurement Company
By: /s/ K.Wade Cline
---------------------------------------
Name: K. Wade Cline
Title: Vice President
44
Stephen Forbes Cooper, LLC, as Trustee
By: /s/ Stephen Forbes Copper
---------------------------------------
Name: Stephen Forbes Cooper
Title: Manager
45
SCHEDULE 1
RATES
[SEE ATTACHED]
<Table>
<Caption>
- -----------------------------------------------------------------------------------------------------------------------------------
CURRENT
AGE/YRS BILLING RATE HOURS/
EMPLOYEE POSITION EXPERIENCE ($/HR)* WEEK ROLE
- -----------------------------------------------------------------------------------------------------------------------------------
Steve Cooper Partner 55/30+ $760 40+ Overall management of the reorganization
process.
- -----------------------------------------------------------------------------------------------------------------------------------
1. Scott Winn Partner 45/20 $670 50+ Day to day management of various chapter 11
issues.
- -----------------------------------------------------------------------------------------------------------------------------------
2. Eva Anderson Director 39/15 $545 50+ Overhead analysis/SPE analysis/bank
communications.
- -----------------------------------------------------------------------------------------------------------------------------------
3. Jerry Barbanel Senior 39/18 $575 50+ Litigation/forensic coordination.
Director -
- -----------------------------------------------------------------------------------------------------------------------------------
4. Robert Bingham Director 53/25 $545 50+ Liquidity management/reporting/supervision.
- -----------------------------------------------------------------------------------------------------------------------------------
5. Robert Semple Director 56/30 $520 50+ Business planning/asset disposition/special
projects.
- -----------------------------------------------------------------------------------------------------------------------------------
6. James Moffett Director 57/35 $500 50+ Litigation support/coordination.
-
- -----------------------------------------------------------------------------------------------------------------------------------
7. Mick Holtzleiter Director 50/28 $495 50+ Manage liquidation/asset disposition/claims
resolution/litigation management/reporting
requirements of non-core businesses.
- -----------------------------------------------------------------------------------------------------------------------------------
8. J. Robert Cotton Director 53/25 $545 50+ Business planning for reorganized platform and
special projects.
- -----------------------------------------------------------------------------------------------------------------------------------
9. Bret Fernandes Manager 33/10 $465 50+ Liquidity management/reporting/special
projects.
- -----------------------------------------------------------------------------------------------------------------------------------
10. Matthew Sandoval Manager 37/5 $465 50+ Project management support of the chapter 11
plan.
- -----------------------------------------------------------------------------------------------------------------------------------
11. Kevin Townsend Manager 53/20 $450 50+ Project management support of the chapter 11
plan.
- -----------------------------------------------------------------------------------------------------------------------------------
12. Molly McCallum Associate 33/9 $385 50+ Day to day support.
- -----------------------------------------------------------------------------------------------------------------------------------
13. Regina Lee Associate 27/5 $400 50+ Litigation/preference and fraudulent
conveyance analyses.
- -----------------------------------------------------------------------------------------------------------------------------------
14. Michael Stanton Director 50/27 $495 55+ Litigation support.
- -----------------------------------------------------------------------------------------------------------------------------------
15. Ivette Morales Manager 45/20 $475 55+ Litigation support.
- -----------------------------------------------------------------------------------------------------------------------------------
16. Xavier Oustalniol Manager 34/12 $500 55+ Litigation support.
- -----------------------------------------------------------------------------------------------------------------------------------
17. Lorraine Ciechanowicz Manager 37/12 $425 55+ Litigation support.
- -----------------------------------------------------------------------------------------------------------------------------------
18. James Agar Manager 31/9 $450 55+ Litigation support.
- -----------------------------------------------------------------------------------------------------------------------------------
19. Erik Ringoen Manager 34/8 $400 55+ Litigation support.
- -----------------------------------------------------------------------------------------------------------------------------------
20. Paul Donato Associate 25/1 $325 55+ Litigation support.
- -----------------------------------------------------------------------------------------------------------------------------------
21. Ryan Tomme Associate 25/3 $350 55+ Litigation support.
- -----------------------------------------------------------------------------------------------------------------------------------
22. Russell Kemp Manager 53/26 $450 55+ Litigation support.
- -----------------------------------------------------------------------------------------------------------------------------------
23. Bassem Marcos Manager 39/14 $450 55+ Litigation support.
- -----------------------------------------------------------------------------------------------------------------------------------
24. Stan Wilson Associate 30/10 $500 55+ Specialized technical litigation support.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
25. Jeffrey E. Tuley Associate 24/5 $450 55+ Specialized technical litigation support.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
26. Bryan Thornton Associate 28/6 $475 55+ Specialized technical litigation support.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
27. J. Luke Tenery Associate 23/2 $425 55+ Specialized technical litigation support.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
28. D. Lance Fielder Associate 35/13 $450 55+ Specialized technical litigation support.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
29. Andy Bass Associate 32/4 $425 55+ Specialized technical litigation support.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
30. Gabriel Kraft Associate 26/3 $400 55+ Specialized technical litigation support.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
31. James Yerges Associate 46/23 $350 55+ Asset location and investigative services.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
32. David Shapiro Associate 45/16 $425 55+ Litigation Support
Director
- -----------------------------------------------------------------------------------------------------------------------------------
33. Richard Fogarty Associate 39/11 $250 55+ Asset location and investigative services.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
34. Marsha Shulman Associate 54/30 $250 55+ Asset location and investigative services.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
35. Cory Martin Associate 24/3 $350 55+ Specialized technical litigation support.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
36. Gregg Gardiner Associate 43/12 $520 55+ Litigation support.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
37. Ken Bara Associate 34/12 $390 55+ Litigation support.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
38. Mark Cervi Associate 28/7 $390 55+ Litigation support.
Director
- -----------------------------------------------------------------------------------------------------------------------------------
</Table>
* Billing rates have been revised to reflect rates effective July 1, 2004.
EXECUTION COPY
SCHEDULE 2
POST EFFECTIVE DATE APPOINTED ASSOCIATE DIRECTOR
SFC will file a Notice of Proposed Employment of Approved Professional (the
"Notice") with the Bankruptcy Court listing which Post Effective Date Appointed
Associate Director(s) it would like to deploy. Such deployment may be to replace
departing employees of the Reorganized Debtors or to handle workload that the
existing employees of Reorganized Debtors are unable to handle.
If such deployment is to replace departing employees of the Reorganized Debtors,
the Notice shall provide certain comparable statistics between the additional
Post Effective Date Appointed Associate Director(s) and the Reorganized Debtor
employee(s) that the Post Effective Date Appointed Associate Director(s) are
intended to replace. In particular, the Notice shall state the age, salary,
experience and education of both the additional Post Effective Date Appointed
Associate Director(s) and the Reorganized Debtor employee(s) being replaced. In
the event that a Post Effective Date Appointed Associate Director is being
deployed to work on additional work, as opposed to replacing a departing
Reorganized Debtor employee, the Notice shall make a statement to that effect
and set forth the name, age, salary, experience, education and reason for
deployment of such Post Effective Date Appointed Associate Director.
If no party in interest objects to the Notice within 10 days of the Notice being
filed, the deployment of the approved Post Effective Date Appointed Associate
Director(s) listed in the notice shall be deemed approved without further order
of the Bankruptcy Court.
If a party in interest objects to a Post Effective Date Appointed Associate
Director listed in the Notice within 10 days of the Notice being filed and the
objection cannot be consensually resolved, the employment of the such Post
Effective Date Appointed Associate Director(s) shall be subject to the entry of
an order by the Bankruptcy Court following a noticed hearing.