I am reading your mail, I have asked for the same thing regarding my base. Especially since I came up here with a base salary converted at 1.48 CDN/USD and with no raise since being here at 1.61 CDN/USD I have received a 9% pay cut relative to my peers in Houston.  Not to mention that my base salary is $50-$100 USD/year lower than what other shops are offering.  However, after three attempts, I have been unsuccessful in championing my own cause.

 -----Original Message-----
From: 	Lambie, Chris  
Sent:	Friday, January 18, 2002 1:51 PM
To:	Zufferli, John
Subject:	


Zuff

Just a quick note after my first look at the numbers.  The only concern I have is with the base number.  Seeing as there is no money up front, the future payments look a lot more like long term comp. than any real signing or retention bonus.  When I came to Enron two years ago I took a $35,000 decrease in base pay in exchange for options and the opportunity to trade for number 1.  That is no longer the case (no options and UBS is not #1) therefore I would look for my base to better reflect market on a go forward basis.  If you are able to accommodate a reasonable adjustment in base I would be very excited about the opportunity to sign with UBS.

I would like to talk about this on Monday, after I have had a chance to look at the paper in full.

Chris.