[CCWG-ACCT] Sidley Comments on Executive Summary Draft

[Greg Shatan]

I think it needs a thorough edit from professional editors.  After all,
even Hemingway wasn't Hemingway without Maxwell Perkins (apologies for
culturally-specific and slightly archaic reference).

Other than that, I agree with Sidley's comments in their email and to the
extent I've tried to review them, their comments.

On Tue, Nov 10, 2015 at 6:37 PM, Gregory, Holly <holly.gregory at sidley.com>
wrote:

> Dear Co-Chairs and CCWG,
>
>
>
> Attached please find Sidley’s comments on the draft Executive Summary.
> Given the very short window for review we have not had time to coordinate
>  our comments with the Adler firm  and apologize for that.  Adler will be
> sending their comments separately.  Please note also that given the very
> short time frame we have not been able to go back and check against the
> transcripts of the various meetings and therefore are relying on memory for
> our understanding of where the CCWG has formed consensus (or near
> consensus) on various issues.
>
>
>
> Overall we find the Executive Summary overly long with significant
> redundancies.  We think it would benefit from  a thorough edit by your
> professional writers.  We also believe that the summary is inaccurate in
> its description of the community processes with respect to the decisions
> to:  (1) remove individual directors and (2) approve Fundamental Bylaws.
> (We agree with Jordan’s comments on the Fundamental Bylaws.) We also
> recommend that a more pointed discussion of the CWG dependencies be added
> so that the reader can understand the broader context in which the Proposal
> has been developed.  We have also edited errors in the description of the
> legal framework that applies.  We have noted these comments in the draft.
>
>
>
> Please let us know if you would like to discuss or if we can be of further
> assistance with this draft.
>
>
>
> Kind regards,
>
> Holly
>
>
>
> *HOLLY* *J. GREGORY*
> Partner and Co-Chair
> Corporate Governance & Executive Compensation Practice Group
>
> *Sidley Austin LLP*
> 787 Seventh Avenue
> New York, NY 10019
> +1 212 839 5853
> holly.gregory at sidley.com
> www.sidley.com
>
> [image: http://www.sidley.com/files/upload/signatures/SA-autosig.png]
> <http://www.sidley.com/> *SIDLEY AUSTIN LLP*
>
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