JIM
MINDLING
Weston,
Connecticut 06883
U.S.A.
| Telephone: | USA (203) 222-0446 | |
| E-Mail: | mindling@optonline.net |
October
5,
2006
Re:
Special Meeting of NYMEX Oct. 12th
Dear
Fellow Shareholders:
I
am
supportive of the NYMEX IPO, and the hard work being done by NYMEX Management.
However,
I
am concerned that Management is asking us to approve measures not only
approving an IPO, but
also permanently taking away some of our most important
shareholder rights.
They
are
also asking for approval of a vague and complicated Long Term Incentive
Plan,
which is worth over TWO HUNDRED FIFTEEN MILLION DOLLARS, assuming
an IPO value of $50. per share. This value is not unreasonable based
upon
the
price at which the A, Band C shares are now trading. I believe this plan is
excessive,
should be rejected by Shareholders, and modified downwards. I am voting
no
on proposal #4.
Please
fully consider that if
you
vote yes
on
proposals 2D through 2G, and 3 A through
C,
and 3 E, you
may
be PERMANENTLY giving up rights and protections now
afforded to you as a Shareholder.
I
fully
support an IPO, which at the same time retains Rights of Shareholders.
Please
remember that if you give up these Shareholder Rights, this vote may
be
your last
vote as an empowered Shareholder of NYMEX.
| Sincerely, | |
| Jim Mindling | |
| NYMEX Shareholder |