Enron Corp. - University of California | Office of The President

(ii) The Marlin Water and Atlantic Water Trusts, along with Osprey and Egret,
were vehicles utilized by Enron and its insiders to further facilitate the fraudulent scheme and
fraudulent course of business complained of. Ben Glisan and defendants Fastow and Causey served
as officers and/or directors or managing agents of Atlantic Water Trust and Egret and they are sued
in this action in part for their fraudulent misconduct in that capacity, as well as their capacities as
Enron officers and directors.
(jj) J. Clifford Baxter ("Baxter") (not named as a defendant as he is deceased) was
Vice Chairman of Enron from 10/00 and Chief Strategy Officer from 6/00. Baxter also served as
Chairman and Chief Executive Officer of Enron North America Corp. from 6/99 until 6/00, and
Senior Vice President, Corporate Development from 1/99-6/99. Baxter died on 1/25/02. During the
Class Period, while in possession of adverse undisclosed information about the Company, Baxter
sold 619,898 shares of his Enron stock for $34,734,854 in proceeds. Baxter also received bonus
payments of over $2.7 million, in addition to his salary, for 97, 98, 99 and 00 based on Enron's false
financial reports and because Enron stock hit certain performance targets. Baxter's insider selling
before and during the Class Period is shown below:
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