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To: stockman_scott who wrote (170213)7/17/2002 1:17:42 PM
From: mepci  Read Replies (2) | Respond to of 176387
 
Some of Michael's worshippers here may not mind giving him a $250M check.
The most important legislation we need is:
1. Treasury stock to be used only for retiring stock.
2. Option plans should be trust accounts. Any stock issued for option grants should come from authorized, but not yet outstanding shares. An offsetting entry for such move should be from assets equivalent to market price of stock.
3. No options are exercisable at prices paid below these moves.
4. Any put sales or call buys should adjust this offsetting entry as they bring in or take out the cash from current assets.
5. Option plans should have an equitable distribution between all employees with the size , exercise price, and distribution voted by shareholders on the recommendation of the Director's compensation committee.
This is a fair, equitable and simple way of handling the option giveaway issue.