Taken from the .aero agreement: http://www.icann.org/tlds/agreements/sponsored/sponsorship-agmt-05nov04. htm 5.2. Procedure for Subsequent Agreement. 5.2.1. Sponsor may, no earlier than eighteen and no later than twelve months prior to the Expiration Date, submit a written proposal to ICANN for the continuation of its sponsorship of the Sponsored TLD for an additional term of five years (the "Renewal Proposal"). The Renewal Proposal shall contain a report of the Sponsor's sponsorship of the Sponsored TLD and include a description of its effectiveness in meeting the needs of the Sponsored TLD Community, proposed additions to or deletions from (a) the Charter and (b) the delegation of policy-development responsibility from ICANN to sponsor, and a certification that the Sponsor has complied with all material terms of this Agreement or, where that is not the case, a description of any failure to comply. During a period of at least thirty days after receiving the Renewal Proposal, ICANN shall post the Renewal Proposal for public comment. 5.2.2. If ICANN does not receive, within forty-five days after the Renewal Proposal is posted under Subsection 5.2.1, any objection(s) to renewal deemed by ICANN to raise a substantial question about whether the Sponsor's continued sponsorship would be in the best interest of the Sponsored TLD Community and the global Internet community, ICANN shall offer to enter into a new TLD Sponsorship Agreement with Sponsor on the terms described by Subsection 5.2.5. 5.2.3. If ICANN receives, within the forty-five day period described in Subsection 5.2.2, one or more objection(s) to renewal deemed by ICANN to raise a substantial question about whether the Sponsor's continued sponsorship would be in the best interest of the Sponsored TLD Community and the global Internet community, ICANN shall commence a staff evaluation of whether (and, if so, on what terms) a continuation of Sponsor's sponsorship of the Sponsored TLD is in the best interest of the Sponsored TLD Community and the global Internet community. The evaluation shall include consideration of whether the Sponsor continues to be representative of the Sponsored TLD Community, whether a different Sponsor would be more representative, the presence or absence of material breaches of this Agreement by Sponsor, and other information that is relevant to the determination of whether the Sponsor's continued sponsorship would be in the best interest of the Sponsored TLD Community and the global Internet community. 5.2.4. A report of the staff evaluation shall be posted and the public and the Sponsor shall be afforded at least thirty days to comment. After the completion of that comment period, the ICANN Board shall evaluate Sponsor's sponsorship of the Sponsored TLD. The ICANN Board shall consider, among other things, the Renewal Proposal, the staff evaluation, and public comments. ICANN shall offer to enter into a new TLD Sponsorship Agreement with Sponsor on the terms described by Subsection 5.2.5 unless the ICANN Board determines, by a two-thirds vote of those voting, that continuation of Sponsor's sponsorship of the Sponsored TLD is not in the interest of the the Sponsored TLD Community and the global Internet community. 5.2.5. The terms of any extension of this Agreement shall be substantially consistent with the terms of agreements between ICANN and sponsors of other Sponsored TLDs then in effect. 5.2.6. In the event that a person or entity other than the Sponsor is selected as the successor sponsor for the Sponsored TLD upon the expiration of this Agreement, ICANN shall require the successor sponsor to pay to Sponsor within sixty (60) days after the Expiration Date the actual cost the Sponsor can evidence in reasonably adjusting to the change of sponsorship, such as payment of early termination fees for any contracts, leases, loans, or other obligations and severance pay for employees, but in no event shall the amount be less than US $200,000. This liquidated amount reflects a reasonable estimate of those costs which would likely be difficult to assess definitively at the time of change in sponsorship.