The first new website address endings should be available in the final quarter of this year, according to Namazi.
The revamped agreement will affect more than 1,000 domain name registrars around the world.
ICANN has been negotiating with domain handlers for more than two years on agreement revisions, with interests of governments and law enforcement agencies among those factored into changes, according to Namazi.
"Law enforcement agencies played a big role in it, because Internet crime is one of the biggest factors out there," he said.
"Governments are actively involved because the Internet is one thing that connects all the governments of the world and some want to control it.
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The agreement doesn't require domain operators to go beyond legal limits regarding information that must be supplied to law enforcement officials, according to ICANN.
"This agreement is probably going to be somewhat invisible to consumers but it provides a mechanism to protect privacy and prevent c