IX. THE VERISIGN ENDOWMENT

C40. The current .org registry agreement between ICANN and VeriSign, Inc., states:

5.1.4 No later than 90 days prior to the Expiration Date, [VeriSign] will pay to ICANN or ICANN's designee the sum of US $5 million, to be used by ICANN in it sole discretion to establish an endowment to be used to fund future operating costs of the nonprofit entity designated by ICANN as successor operator of the .org registry. [VeriSign] agrees that such funds, once paid to ICANN, will become the property of ICANN and/or ICANN's designee, and that [VeriSign] will have no ownership or other rights or interests in such funds or in the manner in which they are used or disbursed.