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<p class="MsoNormal"><a name="_MailEndCompose"><span style="color:#1F497D">Hi Lise – we had proposed deleting that provision from the COI to conform with the prohibition on director compensation in the PTI Bylaws (as discussed in the comment letter) and thereby
 reduce any confusion.&nbsp; If the provision in the PTI Bylaws changes in future to allow for such compensation, the COI could also be amended at that time.&nbsp;
<o:p></o:p></span></a></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Best regards,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Rebecca<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p>&nbsp;</o:p></span></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:10.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;;color:#1F497D">REBECCA GRAPSAS</span></b><span style="font-size:9.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;;color:#1F497D"><br>
Counsel<br>
<br>
<b>SIDLEY AUSTIN LLP<br>
</b>&#43;1 212 839 8541<br>
</span><a href="mailto:rebecca.grapsas@sidley.com" title="Click to send email to Grapsas, Rebecca"><span style="font-size:9.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">rebecca.grapsas@sidley.com</span></a><span style="font-size:9.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;;color:#1F497D"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;;color:#1F497D">&nbsp;</span><span style="color:#1F497D"><o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-left:.5in"><b><span style="font-size:10.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;">From:</span></b><span style="font-size:10.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;"> Lise Fuhr [mailto:Fuhr@etno.eu]
<br>
<b>Sent:</b> Thursday, August 04, 2016 6:16 AM<br>
<b>To:</b> Grapsas, Rebecca; Client Committee; Flanagan, Sharon<br>
<b>Subject:</b> RE: CWG Comment Letter - PTI Governance Documents<o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-left:.5in"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB" style="color:#1F497D">Hi Sharon and Rebecca,<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB" style="color:#1F497D"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB" style="color:#1F497D">Thank you for sending the draft comment letter. I have one question to the original COI article 4.1. Why is this deleted? In case there will be a compensation at a later
 stage isn’t this a nice to have the article even though it seems redundant at the moment?<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB" style="color:#1F497D"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB" style="color:#1F497D">Best,<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB" style="color:#1F497D">Lise
<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB" style="color:#1F497D"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB" style="color:#1F497D"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:#010000">ARTICLE IV
</span><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">-- COMPENSATION<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:red">Section 4.1. A Director who receives Compensation, directly or indirectly, from PTI for<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:red">services may not vote on matters pertaining to the Director’s Compensation.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:red">Section 4.2.</span><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:green">Section 4.1.
</span><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">A Director may not vote on matters pertaining to Compensation<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">received, directly or indirectly, from PTI by a member of the Director’s Family or by an<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">individual with whom a Director has a close personal relationship, including, but not<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">limited to, any relationship other than kinship, spousal or spousal equivalent that<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">establishes a significant personal bond between the Director and such other individual<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">that in the judgment of the Board could impair the Director’s ability to act fairly and<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">independently and in a manner that furthers, or is not opposed to, the best interests of<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">PTI.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:red">Section 4.3.</span><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:green">Section 4.2.
</span><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">No Covered Person who receives Compensation, directly or<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in;text-autospace:none"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">indirectly, from PTI, either individually or collectively, is prohibited from providing<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB" style="font-size:12.0pt;font-family:Times-Roman;color:black">information to the Board regarding the Covered Person’s Compensation.</span><span lang="EN-GB" style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB" style="color:#1F497D"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB" style="color:#1F497D"><o:p>&nbsp;</o:p></span></p>
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<p class="MsoNormal" style="margin-left:.5in"><b>From:</b> <a href="mailto:cwg-client-bounces@icann.org">
cwg-client-bounces@icann.org</a> [<a href="mailto:cwg-client-bounces@icann.org">mailto:cwg-client-bounces@icann.org</a>]
<b>On Behalf Of </b>Grapsas, Rebecca<br>
<b>Sent:</b> 04 August 2016 02:27<br>
<b>To:</b> Client Committee<br>
<b>Subject:</b> [client com] CWG Comment Letter - PTI Governance Documents<o:p></o:p></p>
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<p class="MsoNormal" style="margin-left:.5in"><span lang="EN-GB"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in">Dear Client Committee,<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal" style="margin-left:.5in">At Sharon’s request, attached please find a draft of the comment letter to the PTI governance documents and our comments on those documents.
<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal" style="margin-left:.5in">The comment letter is due August 7.&nbsp;
<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal" style="margin-left:.5in">Best regards,<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal" style="margin-left:.5in">Rebecca<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in"><o:p>&nbsp;</o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in">
<b><span style="font-size:10.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">REBECCA GRAPSAS</span></b><span style="font-size:12.0pt;font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><br>
</span><span style="font-size:9.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">Counsel<br>
<br>
<b>SIDLEY AUSTIN LLP</b><br>
787 Seventh Avenue<br>
New York, NY 10019<br>
&#43;1 212 839 8541</span><span style="font-size:12.0pt;font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><br>
</span><span style="font-size:9.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"><a href="mailto:rebecca.grapsas@sidley.com" title="Click to send email to Grapsas, Rebecca">rebecca.grapsas@sidley.com</a></span><span style="font-size:12.0pt;font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><br>
<a href="http://www.sidley.com" title="www.sidley.com"><span style="font-size:9.0pt;font-family:&quot;Arial&quot;,&quot;sans-serif&quot;">www.sidley.com</span></a><o:p></o:p></span></p>
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