VeriSign has renewed its contract with ICANN to register .NET domains.

VeriSign continues to register names in the .NET domain zone. This decision was made several days ago following a vote by the ICANN Board of Directors.

The new contract still allows VeriSign to continue raising prices for .NET domains. The permitted increase is up to 10% in any given year. ICANN will receive $0.75 for each .NET domain registration or renewal. This totals over $10 million per year.

ICANN plans to spend these funds on expanding ICANN's reach, including in developing countries, and on ensuring the security of the existing domain name system.

ICANN is committed to providing annual reporting on the use of these funds.