<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body dir="auto"><div><span></span></div><div><br><div><span></span></div><blockquote type="cite"><div><meta http-equiv="Content-Type" content="text/html; charset=us-ascii"><meta name="Generator" content="Microsoft Word 14 (filtered medium)"><style><!--
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</o:shapelayout></xml><![endif]--><div class="WordSection1"><p class="MsoNormal">ICANN Staff,<o:p></o:p></p><p class="MsoNormal"><o:p> </o:p></p><p class="MsoNormal">On behalf of the GNSO Council, the following comments are submitted with regards to ICANN’s Reserve Fund Target Level. <o:p></o:p></p><p class="MsoNormal"><o:p> </o:p></p><p class="MsoNormal">Thank you for providing the opportunity to comment.<o:p></o:p></p><p class="MsoNormal"><o:p> </o:p></p><p class="MsoNormal">B<o:p></o:p></p><p class="MsoNormal"><o:p> </o:p></p><p class="MsoNormal">Berry Cobb<o:p></o:p></p><p class="MsoNormal">GNSO Policy Consultant<o:p></o:p></p><p class="MsoNormal"><o:p> </o:p></p></div></div></blockquote><blockquote type="cite"><div></div></blockquote></div></body></html>