Preliminary Report Meeting of the Executive Committee 16 October 2001

At its meeting on 16 October 2001, the ICANN Executive Committee adopted the following resolutions:

Approval of Minutes

Resolved [EC01.15] that the Minutes of the Meetings of the Executive Committee held on 6 January 2001 and 16 August 2001 are hereby approved and adopted as presented.

Repayment of Loan

Whereas, Deutsche Telekom has loaned ICANN a principal amount of US$ 200,000, which was due for repayment on 12 October 2001;

Whereas, the principal due to Deutsche Telekom for repayment is US$ 200,000 and the unpaid interest that will be accrued through 16 October 2001 is US$ 14,906;

Whereas, in resolution 99.121 the Board delegated to the Executive Committee the authority (with exceptions not here relevant) to exercise all the Board's powers in the oversight of the management of the affairs of ICANN, specifically including in financial matters;

Resolved [EC01.16], that the President is authorized to disburse, on or about 16 October 2001, US$ 214,906 to Deutsche Telekom in full repayment of its loan to ICANN.

Payment of Legal Expenses

Whereas, ICANN had significant needs for legal services in the month of July 2001 concerning ccTLD agreements, including preparation of a program under which ICANN would be capable of negotiating and entering up to five ccTLD agreements per month;

Whereas, Jones, Day, Reavis & Pogue provided extensive legal services to meet these needs;

Whereas, ICANN received an invoice from Jones, Day for US$ 88,711.68 for these legal services rendered in July 2001;

Whereas, the President reviewed the invoice and determined that in his opinion it represents a proper indebtedness of ICANN, is for authorized services, and should be paid;

Whereas, the President has advised the Executive Committee that ICANN has adequate funds to pay this invoice;

Whereas, in resolution 99.121 the Board delegated to the Executive Committee the authority (with exceptions not here relevant) to exercise all the Board's powers in the oversight of the management of ICANN's affairs, including in financial matters;

Whereas, the President advised the Executive Committee's members of his opinion that the invoice should be paid;

Resolved [EC01.17] that payment to Jones, Day, Reavis & Pogue of US$ 88,711.68 for legal services provided to ICANN in ccTLD agreements during the month of July 2001 is hereby approved and authorized.

Reimbursement of President's Expenses

Whereas, under resolution EC01.13 the Vice-President and General Counsel has approved advances to the President toward expenses he has incurred in connection with performance of his duties in the amounts of US$ 7524.21 (on 30 August 2001) and US$ 8893.63 (on 8 October 2001);

Whereas, the Executive Committee has considered whether to approve the reimbursement of those expenses;

Resolved [EC01.18] that the Executive Committee, acting under the authority delegated to it by the Board in resolution 99.121, approves reimbursement to the President of the expenses incurred in the amounts of US$ 7524.21 and US$ 8893.63.

(Dr. Lynn did not participate in this action of the Executive Committee.)