MEMORANDUM ON REVISED NASD CASH/NON-CASH COMPENSATION PROPOSALS FILED WITH THE NASD

August 7, 1995 TO: SALES FORCE MARKETING COMMITTEE No. 36-95 RE: MEMORANDUM ON REVISED NASD CASH/NON-CASH COMPENSATION PROPOSALS FILED WITH THE NASD ______________________________________________________________________________ For your information, enclosed is a memorandum concerning the revised cash/non-cash compensation proposals that the NASD recently filed with the SEC. Also enclosed is the NASD Notice to Members referenced in the memorandum. Please let me know if you have any questions or if I can be of assistance in any way. Linda Brenner Manager, Sales Force Marketing and Financial Planning Services Enclosures