Message-ID: <13131629.1075861070528.JavaMail.evans@thyme>
Date: Thu, 7 Mar 2002 10:42:02 -0800 (PST)
From: theresa.hess@enron.com
To: shelley.corman@enron.com
Subject: NAESB Certificate - Budget Deficit
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Hess, Theresa </O=ENRON/OU=NA/CN=RECIPIENTS/CN=THESS>
X-To: Corman, Shelley </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Scorman>
X-cc: 
X-bcc: 
X-Folder: \Shelley_Corman_Mar2002\Corman, Shelley\Deleted Items
X-Origin: Corman-S
X-FileName: scorman (Non-Privileged).pst

According to the Certificate changes, which are filed with the state of Delaware, Article VII, Section 1 was deleted in its entirety and replaced.  The replacement language is consistent with the latest copy that I gave you earlier today.

In this same filing, a change was made to Article V, Section 6.  It states that the determination of how to fund a budget deficit will be made via a super majority vote of the Board.  The language is:

Section 6. A vote of at least seventy-five percent (75%) from the Board, including an
affirmative vote of at least forty percent (40%) from the Directors representing each Segment
within each Quadrant, shall be required to determine how to fund a budget deficit or to
establish or modify a promotional dues program.

The filing is dated August 3, 1998.


