<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<!-- Template generated by Exclaimer Mail Disclaimers on 09:05:27 Thursday, 26 May 2016 -->
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
<style type="text/css">P.dbfca0c5-06ab-45e7-ae3c-2401c5c42c0d {
        MARGIN: 0cm 0cm 0pt
}
LI.dbfca0c5-06ab-45e7-ae3c-2401c5c42c0d {
        MARGIN: 0cm 0cm 0pt
}
DIV.dbfca0c5-06ab-45e7-ae3c-2401c5c42c0d {
        MARGIN: 0cm 0cm 0pt
}
TABLE.dbfca0c5-06ab-45e7-ae3c-2401c5c42c0dTable {
        MARGIN: 0cm 0cm 0pt
}
DIV.Section1 {
        page: Section1
}
</style>
<meta name="Generator" content="Microsoft Word 12 (filtered medium)">
<!--[if !mso]><style>v\:* {behavior:url(#default#VML);}
o\:* {behavior:url(#default#VML);}
w\:* {behavior:url(#default#VML);}
.shape {behavior:url(#default#VML);}
</style><![endif]--><style><!--
/* Font Definitions */
@font-face
        {font-family:"Cambria Math";
        panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
        {font-family:Calibri;
        panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
        {font-family:Tahoma;
        panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
        {margin:0in;
        margin-bottom:.0001pt;
        font-size:11.0pt;
        font-family:"Calibri","sans-serif";}
p.MsoBodyText, li.MsoBodyText, div.MsoBodyText
        {mso-style-priority:99;
        mso-style-link:"Body Text Char";
        margin-top:0in;
        margin-right:0in;
        margin-bottom:12.0pt;
        margin-left:0in;
        font-size:12.0pt;
        font-family:"Times New Roman","serif";}
a:link, span.MsoHyperlink
        {mso-style-priority:99;
        color:blue;
        text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
        {mso-style-priority:99;
        color:purple;
        text-decoration:underline;}
p.MsoAcetate, li.MsoAcetate, div.MsoAcetate
        {mso-style-priority:99;
        mso-style-link:"Balloon Text Char";
        margin:0in;
        margin-bottom:.0001pt;
        font-size:8.0pt;
        font-family:"Tahoma","sans-serif";}
p.MsoListParagraph, li.MsoListParagraph, div.MsoListParagraph
        {mso-style-priority:34;
        margin-top:0in;
        margin-right:0in;
        margin-bottom:0in;
        margin-left:.5in;
        margin-bottom:.0001pt;
        font-size:11.0pt;
        font-family:"Calibri","sans-serif";}
span.BodyTextChar
        {mso-style-name:"Body Text Char";
        mso-style-priority:99;
        mso-style-link:"Body Text";
        font-family:"Calibri","sans-serif";}
span.BalloonTextChar
        {mso-style-name:"Balloon Text Char";
        mso-style-priority:99;
        mso-style-link:"Balloon Text";
        font-family:"Tahoma","sans-serif";}
span.EmailStyle22
        {mso-style-type:personal;
        font-family:"Calibri","sans-serif";
        color:windowtext;}
span.EmailStyle23
        {mso-style-type:personal;
        font-family:"Calibri","sans-serif";
        color:#1F497D;}
span.EmailStyle24
        {mso-style-type:personal;
        font-family:"Calibri","sans-serif";
        color:#1F497D;}
span.EmailStyle25
        {mso-style-type:personal;
        font-family:"Calibri","sans-serif";
        color:#1F497D;}
span.EmailStyle26
        {mso-style-type:personal;
        font-family:"Calibri","sans-serif";
        color:#1F497D;}
span.EmailStyle27
        {mso-style-type:personal-reply;
        font-family:"Calibri","sans-serif";
        color:#1F497D;}
.MsoChpDefault
        {mso-style-type:export-only;
        font-size:10.0pt;}
@page WordSection1
        {size:8.5in 11.0in;
        margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
        {page:WordSection1;}
/* List Definitions */
@list l0
        {mso-list-id:1930389736;
        mso-list-type:hybrid;
        mso-list-template-ids:-736462574 67698703 67698713 67698715 67698703 67698713 67698715 67698703 67698713 67698715;}
@list l0:level1
        {mso-level-tab-stop:none;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level2
        {mso-level-tab-stop:1.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level3
        {mso-level-tab-stop:1.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level4
        {mso-level-tab-stop:2.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level5
        {mso-level-tab-stop:2.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level6
        {mso-level-tab-stop:3.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level7
        {mso-level-tab-stop:3.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level8
        {mso-level-tab-stop:4.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level9
        {mso-level-tab-stop:4.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
ol
        {margin-bottom:0in;}
ul
        {margin-bottom:0in;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="2050" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang="EN-US" link="blue" vlink="purple">
<p class="dbfca0c5-06ab-45e7-ae3c-2401c5c42c0d"></p>
<div class="WordSection1">
<p class="MsoNormal">Dear Client Committee,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">We wanted to confirm one point in the draft ICANN bylaws, in Annex F which addresses the caretaker IANA budget. In Section 1 of Annex F, the “caretaker” IANA Budget is defined as “an
<span style="background:yellow;mso-highlight:yellow">annual operating plan</span> and budget that is established by the CFO in accordance with the following principles…” However, the CWG proposal refers to the ICANN annual operating plan and budget, but
refers only to IANA budget (and does not refer to an annual IANA operating plan). We believe the reference to an annual operating plan in Annex F for the IANA caretaker budget was a carry over from the ICANN caretaker budget annex and should be deleted.
Can you please confirm?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks,<br>
Sharon<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></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">SHARON R. FLANAGAN</span></b><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"><br>
<br>
<b>SIDLEY AUSTIN LLP</b><br>
555 California Street<br>
Suite 2000<br>
San Francisco, CA 94104<br>
+1 415 772 1271</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:sflanagan@sidley.com" title="Click to send email to Flanagan, Sharon">sflanagan@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"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D"><img border="0" width="126" height="54" id="_x0000_i1025" src="http://www2.sidley.com/files/upload/signatures/SIDLEY_150-AUTOSIG.png" alt="SIDLEY"></span></b><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;font-family:"Times New Roman","serif";color:#1F497D"> </span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<p></p>
<p class="dbfca0c5-06ab-45e7-ae3c-2401c5c42c0d"> </p>
<p>****************************************************************************************************<br>
This e-mail is sent by a law firm and may contain information that is privileged or confidential.<br>
If you are not the intended recipient, please delete the e-mail and any attachments and notify us<br>
immediately.<br>
<br>
****************************************************************************************************</p>
</body>
</html>