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<p class="MsoNormal"><span style="font-size:16.0pt">Dear Co-Chairs, Members, Participants and Staff,
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt">Congratulations on the progress made over the last several weeks. We have completed our review and are pleased to report that we have only minor comments on the Supplemental Final Proposal (marked on the
attached in Word and in a pdf). We also had some very minor changes on the Annexes, Appendices and Glossary in the nature of conforming and proof-reading changes and we have communicated those separately to the Co-Chairs and Staff.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt">Two comments for your consideration:
<o:p></o:p></span></p>
<p class="MsoNormal"><b><u><span style="font-size:16.0pt"><o:p><span style="text-decoration:none"> </span></o:p></span></u></b></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l1 level1 lfo2"><![if !supportLists]><span style="font-size:16.0pt;font-family:Symbol"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><b><u><span style="font-size:16.0pt">Generally</span></u></b><span style="font-size:16.0pt">: Consider adding paragraph numbers throughout the document.<o:p></o:p></span></p>
<p class="MsoNormal"><b><u><span style="font-size:16.0pt"><o:p><span style="text-decoration:none"> </span></o:p></span></u></b></p>
<p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo4"><![if !supportLists]><span style="font-size:16.0pt;font-family:Symbol"><span style="mso-list:Ignore">·<span style="font:7.0pt "Times New Roman"">
</span></span></span><![endif]><b><u><span style="font-size:16.0pt">Main Proposal, Recommendation 2</span></u></b><b><span style="font-size:16.0pt">:
</span></b><span style="font-size:16.0pt"> Consider including the thresholds chart from Annex 2 in the main proposal (similar to the Third Draft Proposal, which included this chart in the main body of the proposal).
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt">Again, congratulations on reaching this milestone. We have especially appreciated the leadership of the Co-Chair, the commitment to finding consensus exhibited by the Members and Participants, the tireless
efforts of ICANN Staff in supporting this project and the collaboration of ICANN Legal and Jones Day in working on several of the legal issues.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt">Kind regards, <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt">Holly and Rosemary and the Sidley and Adler Teams<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:22.0pt;color:#1F497D"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">HOLLY</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"> <b>J.
GREGORY</b></span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D"><br>
</span><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:#1F497D">Partner and Co-Chair<br>
Corporate Governance & Executive Compensation Practice Group<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D">Sidley Austin LLP</span></b><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:#1F497D"><br>
787 Seventh Avenue<br>
New York, NY 10019<br>
+1 212 839 5853</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D"><br>
</span><span style="font-size:9.0pt;font-family:"Arial","sans-serif";color:#1F497D"><a href="mailto:holly.gregory@sidley.com" title="Click to send email to Gregory, Holly">holly.gregory@sidley.com</a></span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:#1F497D"><br>
<a href="http://www.sidley.com/" title="www.sidley.com"><span style="font-size:9.0pt;font-family:"Arial","sans-serif"">www.sidley.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><a href="http://www.sidley.com/"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";text-decoration:none"><img border="0" width="35" height="35" id="_x0000_i1025" src="http://www.sidley.com/files/upload/signatures/SA-autosig.png" alt="http://www.sidley.com/files/upload/signatures/SA-autosig.png"></span></a><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"> <b>SIDLEY
AUSTIN LLP</b></span><span style="font-size:10.0pt;font-family:"Times New Roman","serif";color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D"> </span><span style="color:#1F497D"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:22.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:22.0pt"><o:p> </o:p></span></p>
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