<html><body><font face="Tahoma" size="2"><font size="2" face="Tahoma"><font size="2" face="Tahoma"><font size="2" face="Tahoma"></font></font></font><span style="font-size:12.0pt;line-height:107%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin">I too watched the session so kindly organized
by Kathy and crew, and a <i><b>big thanks</b></i>. </span>
<p class="MsoNormal"><span style="font-size:12.0pt;line-height:107%;mso-bidi-font-family:
Calibri;mso-bidi-theme-font:minor-latin">There were three <b><i>take aways</i></b>
for me. One involves the discussion mentioned by Amr regarding </span><span style="font-size:12.0pt;line-height:107%;mso-fareast-font-family:"Times New Roman";
mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">Professor
Benjamin Leff’s comments on the legal issues concerning the sale of PIR and US
and Pennsylvania law regarding the sale of non-profit organizations. </span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;line-height:107%;mso-fareast-font-family:
"Times New Roman";mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">First:
there needs to be an expanded discussion to see if there is <i><b>any scope under US
Tax and Pennsylvania non-profit law for protecting a public interest remit for the .org registry</b></i>, no matter who buys it.<br></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;line-height:107%;mso-fareast-font-family:
"Times New Roman";mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">Second:
I am concerned with the comments suggesting that the .org registry should sell
for much more than $1.13B USD. <i><b>The higher the sale price the more the .org
registry will be shackled with debt</b></i>. Debt must be serviced out of the profits of the
registry, before owners receive any profits, putting great pressure on
the registry owners to find ways to generate more revenue.</span><span style="font-size:12.0pt;line-height:107%;mso-fareast-font-family:
"Times New Roman";mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin"> As it is, in this period of low interest rates, as interest rates rise (as they will) any debt carried by the registry owner will become increasingly costly.<br></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;line-height:107%;mso-fareast-font-family:
"Times New Roman";mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">Third:
It remains clear that <i><b>ICANN has scope for adjusting the terms of the
registry contract</b></i> in ways that address some of the concerns expressed by stakeholders
and stakeholder groups. It is disturbing (distressing) that as a
multistakeholder organization ICANN had not been forthcoming about intentions
and has not initiated discussions with engaged stakeholders about possible
contract options. </span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;line-height:107%;mso-fareast-font-family:
"Times New Roman";mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">I
stress that there are two potential bad outcomes here:</span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;line-height:107%;mso-fareast-font-family:
"Times New Roman";mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">The
first bad outcome is a sale with no protections against future .org
registry business plans that threaten the public interest, with financial and other risks to the .org domain name holders.</span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;line-height:107%;mso-fareast-font-family:
"Times New Roman";mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">The
second bad outcome is a .org registry sale approved by ICANN without multistakeholder
engagement in dialogue prior to the approval. This is likely to
be taken as a litmus test of the extent to which ICANN is not a
functioning multistakeholder entity. </span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;line-height:107%;mso-fareast-font-family:
"Times New Roman";mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">Sam
L (NPOC)</span></p>
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