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To: mishedlo who wrote (195470)	10/4/2002 4:51:44 PM
From: Lizzie Tudor	Respond to of 436258

sebl: the problem is the program is only for options $40. and above, and you get almost 1/3 of a current share for them. (sebl in the mid-5s) Everybody is going to take this, it was structured to encourage the deal. I also wonder if the $1.85/share price was set when sebl was trading at higher levels - it just hit the 5s recently. Under its innovative deal, San Mateo-based Siebel offered workers $1.85 a share for every stock option with an exercise price of $40 or more.