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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Thanks Greg.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">In response to Donna’s question regarding PTI Board responsibilities, I assume what we need to discuss is what responsibilities the Board (or corresponding
LLC managers/members) would have above and beyond those required by California or Delaware law.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Chuck<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> cwg-stewardship-bounces@icann.org [mailto:cwg-stewardship-bounces@icann.org]
<b>On Behalf Of </b>Greg Shatan<br>
<b>Sent:</b> Wednesday, April 29, 2015 5:35 PM<br>
<b>To:</b> cwg-stewardship@icann.org<br>
<b>Subject:</b> [CWG-Stewardship] Fwd: [client com] PTI Board and Costs<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="font-family:"Verdana","sans-serif"">All:<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Verdana","sans-serif""><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Verdana","sans-serif"">I am forwarding a memo from Sidley regarding the PTI board responsibilities and and associated costs.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Verdana","sans-serif""><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Verdana","sans-serif"">Best regards,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Verdana","sans-serif""><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Verdana","sans-serif"">Greg<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Verdana","sans-serif""><o:p> </o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt">---------- Forwarded message ----------<br>
From: <b>Client Committee List for CWG</b> <<a href="mailto:cwg-client@icann.org">cwg-client@icann.org</a>><br>
Date: Tue, Apr 28, 2015 at 1:44 PM<br>
Subject: [client com] PTI Board and Costs<br>
To: "<a href="mailto:cwg-client@icann.org">cwg-client@icann.org</a>" <<a href="mailto:cwg-client@icann.org">cwg-client@icann.org</a>><br>
<br>
<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Dear All,<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Attached is a memo regarding the responsibilities of the PTI board and also associated legal costs of maintaining that entity.<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Best regards,<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Sharon<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <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"">SHARON</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif""> <b>FLANAGAN</b></span><br>
<span style="font-size:9.0pt;font-family:"Arial","sans-serif"">Partner</span><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"">Sidley Austin LLP<br>
</span></b><span style="font-size:9.0pt;font-family:"Arial","sans-serif"">555 California Street<br>
Suite 2000<br>
San Francisco, CA 94104<br>
<a href="tel:%2B1.415.772.1271" target="_blank">+1.415.772.1271</a></span><br>
<a href="mailto:sflanagan@sidley.com" target="_blank" title="Click to send email to Flanagan, Sharon"><span style="font-size:9.0pt;font-family:"Arial","sans-serif"">sflanagan@sidley.com</span></a><br>
<a href="http://www.sidley.com" target="_blank" title="www.sidley.com"><span style="font-size:9.0pt;font-family:"Arial","sans-serif"">www.sidley.com</span></a><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
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<p> <o:p></o:p></p>
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