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EX3.1

EX3.12d252287dex31.htmEX3.1
Exhibit3.1
BYLAWS
OF
MICROSOFTCORPORATION
ARTICLEI
Shareholders
1.1AnnualMeeting.TheannualmeetingoftheshareholdersoftheCorporationfortheelectionofdirectors
andforthetransactionofsuchotherbusinessasproperlymaybesubmittedtosuchannualmeeting,shallbeheld
atthehourandonthedatedesignatedbytheBoardofDirectors(Board)oranauthorizedcommitteeofthe
Board.
1.2SpecialMeetings.SpecialmeetingsoftheshareholdersoftheCorporation,foranypurposeorpurposes,
maybecalledbytheBoard,anauthorizedcommitteeoftheBoard,oroneormoreshareholderstotheextent
permittedbytheArticlesofIncorporation.Tobeinproperform,arequestforaspecialmeetingofshareholders
submittedbyoneormoreshareholdersmust:
(a)beinwritingandbedeliveredinpersonorbyregisteredmailtothesecretaryoftheCorporation
(b)specifyinreasonabledetailthepurpose(s)ofandthebusinessproposedtobeconductedatthe
specialmeeting
(c)suggestadateforthespecialmeeting,whichdateshallbenofewerthanthirty(30)andnomore
thanninety(90)daysfromthedateonwhichtherequestisdeliveredtothesecretaryoftheCorporation
and
(d)containtheinformationrequiredforbusinesstoproperlybebroughtbyashareholderbeforethe
annualmeetingofshareholdersassetforthinSection1.13oftheseBylawsandreasonableevidence
therequestingshareholderorshareholdersownstherequisitenumberofsharesoftheCorporationas
definedinSection1.14(c)oftheseBylaws.
IftheBoarddeterminesashareholderrequestforaspecialmeetingcomplieswiththeArticlesofIncorporation
andtheprovisionsoftheseBylaws,theBoardshallcallandsendnoticeofaspecialmeetingforthepurposeset
forthinsuchrequestwithin30daysofreceiptoftherequest.TheBoardshalldeterminethedateforsuchspecial
meetingandtherecorddateforshareholdersentitledtonoticeofandtovoteatsuchmeeting.Business
transactedataspecialmeetingrequestedbyshareholdersshallbelimitedtothepurpose(s)statedintherequest,
unlesstheBoardsubmitsadditionalmatterstoshareholdersatanyspecialmeetingrequestedbyshareholders.
Inmakingthedecisiontocallaspecialmeetinginresponsetoshareholderrequests,theBoardshallhave
discretionastothecallandpurposesofameetingandmayrefusetocallameeting(a)ifthemeetingrequest
relatestoanitemofbusinessthatisnotapropersubjectforshareholderactionunderapplicablelaw,or(b)fora
purposeidenticalorsimilartoapurposeforwhichapreviousspecialmeetingwasheldintheprevious90daysor
anannualmeetingtobeheldwithin90daysofthedatetheshareholderrequestismade.
1.3BusinessatAnnualandSpecialMeetings.Nobusiness(includinganydirectornomination)maybe
presentedandtransactedatanannualorspecialmeetingofshareholdersotherthanbusinessthatis:

(a)specifiedinanoticeofmeetinggivenbyoratthedirectionoftheBoardoranauthorizedcommittee
oftheBoard,

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EX3.1

(b)otherwisebroughtatthemeetingbyoratthedirectionoftheBoardoranauthorizedcommitteeof
theBoard,
(c)specifiedinanoticeofmeetingstatedinashareholderspecialmeetingrequestpursuantto
Section1.2oftheseBylaws,or
(d)otherwisebroughtatanannualmeetingbyashareholderwho:
(i)holdsofrecordstockoftheCorporationentitledtovoteatthemeetingonsuchbusinessand
(ii)complieswiththenoticeproceduressetforthinSection1.13and,ifapplicable,Section1.14.
Clauses(c)and(d)ofthisSection1.3shallbetheexclusivemeansforashareholdertopresentdirector
nominationsorotherbusinessatameetingofshareholders(otherthanproposalsbroughtunderRule14a8
undertheSecuritiesExchangeActof1934,asamended(theExchangeAct)andincludedintheCorporations
noticeofmeeting,whichproposalsarenotgovernedbytheseBylaws).
1.4PlaceofMeetings.MeetingsofshareholdersshallbeheldatsuchplacewithinoroutsidetheStateof
WashingtonasdeterminedbytheBoard,oranauthorizedcommitteeoftheBoard,pursuanttopropernotice.
1.5Notice.TheCorporationshallgivewrittenorelectronicnoticeofeachshareholdersmeetingstatingthe
date,time,andplaceand,foraspecialmeeting,thepurpose(s)forwhichthemeetingiscalled,notlessthanten
(10)(unlessagreaterperiodofnoticeisrequiredbylawinaparticularcase)normorethansixty(60)daysprior
tothedateofthemeeting,toeachshareholderofrecord,totheshareholdersaddressasitappearsonthe
currentrecordofshareholdersoftheCorporation.
1.6QuorumofShareholders.Atanymeetingoftheshareholders,amajorityininterestofalltheshares
entitledtovoteonamatter,representedbyshareholdersofrecordinpersonorbyproxy,shallconstitutea
quorumofthatvotinggroupforactiononthatmatter.
Onceashareisrepresentedatameeting,otherthantoobjecttoholdingthemeetingortransactingbusiness,itis
deemedtobepresentforquorumpurposesfortheremainderofthemeetingandforanyadjournmenttoanew
date,time,orplaceunlessanewrecorddateisormustbesetfortheadjournedmeeting.
Ifaquorumexists,actiononamatterisapprovedbyavotinggroupifthevotescastwithinthevotinggroup
favoringtheactionexceedthevotescastwithinthevotinggroupopposingtheaction,unlessthequestionisone
uponwhichbyexpressprovisionoftheWashingtonBusinessCorporationAct,asamended(WBCA),orofthe
ArticlesofIncorporationoroftheseBylawsadifferentvoteisrequired.
1.7Adjournment.Amajorityofthesharesrepresentedatthemeeting,eveniflessthanaquorum,may
adjournthemeetingfromtimetotime.Atareconvenedmeetingatwhichaquorumispresentanybusinessmay
betransactedatthemeetingasmayhavebeenbroughtattheadjournedmeetinginaccordancewith
Section1.3.Ifameetingisadjournedtoadifferentdate,time,orplace,noticeneednotbegivenofthenewdate,
time,orplaceifanewdate,time,orplaceisannouncedatthemeetingbeforeadjournmenthowever,ifthe
WBCArequiresthatanewrecorddatefortheadjournedmeetingmustbefixed,thennoticeoftheadjourned
meetingmustbegiventopersonswhoareshareholdersasofthenewrecorddate.

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EX3.1

1.8RecordDateandTransferBooks.Forthepurposeofdeterminingshareholderswhoareentitledtonotice
ofortovoteatanymeetingofshareholdersoranyadjournmentthereof,orentitledtoreceivepaymentofany
dividend,orinordertomakeadeterminationofshareholdersforanyotherproperpurpose,theBoardmayfixin
advancearecorddateforanysuchdeterminationofshareholders,whichdateshallnotbemorethanseventy
(70)daysand,incaseofameetingofshareholders,notlessthanten(10)dayspriortothedateonwhichthe
particularaction,requiringsuchdeterminationofshareholders,istobetaken.
Ifnorecorddateisfixedforsuchpurposes,thedateonwhichnoticeofthemeetingisgivenorthedateonwhich
theresolutionoftheBoarddeclaringsuchdividendisadopted,asthecasemaybe,shallbetherecorddatefor
suchdeterminationofshareholders.
Whenadeterminationofshareholdersentitledtovoteatanymeetingofshareholdershasbeenmadeasprovided
inthissection,thatdeterminationshallapplytoanyadjournmentofthemeeting,unlesstheBoardfixesanew
recorddate,whichitmustdoifthemeetingisadjournedmorethanonehundredtwenty(120)daysafterthedate
isfixedfortheoriginalmeeting.
1.9VotingRecord.TheofficeroragenthavingchargeofthestocktransferbooksforsharesoftheCorporation
shallmakeatleastten(10)daysbeforeeachmeetingofshareholdersacompleterecordoftheshareholders
entitledtovoteatthemeetingoranyadjournmentthereof,arrangedbyanyapplicablevotinggroupsandin
alphabeticalorder,withtheaddressofandthenumberofsharesheldbyeachshareholder.Therecordof
shareholdersshallbeproducedandkeptopenatthetimeandplaceofthemeetingandshallbesubjecttothe
inspectionofanyshareholderoranyshareholdersagentduringthewholetimeofthemeeting.
1.10Proxies.Shareholdersofrecordmayvoteatanymeetingeitherinpersonorbyproxy.Ashareholdermay
appointaproxytovotefortheshareholderbysubmitting(a)anappointmentformsignedbytheshareholderor
theshareholdersattorneyinfact,or(b)anelectronictransmissionsentinaccordancewiththeprovisionsfor
electronicnoticeunderSection3.3.Anappointmentofproxyiseffectivewhenanappointmentformoran
electronictransmission(ordocumentaryevidencethereof,includingverificationinformation)isreceivedbythe
personauthorizedtotabulatevotesfortheCorporation.Theproxyhasthesamepowertovoteasthatpossessed
bytheshareholder,unlesstheappointmentformorelectronictransmissioncontainsanexpresslimitationonthe
powertovoteordirectionastohowtovotethesharesonaparticularmatter,inwhicheventtheCorporation
musttabulatethevotesinamannerconsistentwiththatlimitationordirection.Anappointmentofproxyisvalidfor
eleven(11)monthsunlessalongerperiodisexpresslyprovidedintheappointmentformorelectronic
transmission.
1.11OrganizationofMeeting.TheofficerdesignatedbytheChiefExecutiveOfficer(orintheabsenceofa
designationbytheChiefExecutiveOfficer,anyotherofficerdesignatedbytheBoard)maycallanymeetingof
shareholderstoorderandshallbetheChairmanofthemeeting.TheSecretaryoftheCorporation,oranyother
officerdesignatedbytheBoard,ifpresentatanymeetingofitsshareholders,shallactastheSecretaryofthe
meeting.IftheSecretary(orotherofficerdesignatedbytheBoardtoactasSecretary)isabsentfromany
meetingofshareholders,theChairmanofthemeetingmayappointaSecretaryforthemeeting.
1.12OrderofBusiness.TheChairmanofameetingofshareholders,determinedinaccordancewith
Section1.11,shallhavediscretiontoestablishtheorderofbusinessforthemeetingsubjecttoanyspecificorder
establishedbytheBoard.

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1.13NoticeofShareholderBusinesstobeConductedatanAnnualMeetingofShareholders.Inorder
forashareholdertoproperlybringanyitemofbusinessatanannualmeetingofshareholders(theCurrentYear
Meeting),theshareholdermustgivetimelynoticethereofinwritingtotheSecretaryoftheCorporationin
compliancewiththerequirementsofthisSection1.13and,ifapplicable,Section1.14.ThisSection1.13shall
constituteanadvancenoticeprovisionforannualmeetingsforpurposesofRule14a4(c)(1)underthe
ExchangeAct.
(a)Tobetimely,ashareholdersnoticeshallbedeliveredtotheSecretaryattheprincipalexecutive
officesoftheCorporationnotearlierthanthecloseofbusinessonthe120thdayandnotlaterthanthe
closeofbusinessonthe90thdaypriortothefirstanniversaryoftheprecedingyearsannualmeeting
provided,however,thatifthedateoftheCurrentYearMeetingismorethan30daysbeforeormore
than60daysaftersuchanniversarydate,noticebytheshareholdertobetimelymustbesodeliverednot
earlierthanthecloseofbusinessonthe120thdaypriortothedateoftheCurrentYearMeetingandnot
laterthanthecloseofbusinessonthelaterofthe90thdaypriortothedateoftheCurrentYearMeeting
or,ifthefirstpublicannouncementofthedateoftheCurrentYearMeetingislessthan100dayspriorto
thedateoftheCurrentYearMeeting,the10thdayfollowingthedayonwhichpublicannouncementof
thedateoftheCurrentYearMeetingisfirstmadebytheCorporation.Innoeventshallanyadjournment
orpostponementofanannualmeeting,ortheannouncementthereof,commenceanewtimeperiodfor
thegivingofashareholdersnoticeasdescribedabove.
(b)Tobeinproperform,whetherforanomineeforelectiontotheBoardorotherbusiness,a
shareholdersnoticetotheSecretarymustsetforththeshareholdersnameandaddressastheyappear
ontheCorporationsbooksandtheclassorseriesandnumberofsharesoftheCorporationthatare
ownedofrecordbysuchshareholderand:
(i)Setforth,astotheshareholderor,iftheshareholderisactingonbehalfofabeneficial
owner,astothebeneficialowneronwhosebehalfthenominationorproposalismade(such
shareholderorbeneficialowner,aHolder)andiftheHolderisanentity,astoeachdirector,
executive,managingmemberorcontrolpersonofsuchentity(anysuchindividualorcontrol
person,acontrolperson),thefollowinginformationtogetherwitharepresentationastothe
accuracyoftheinformation:
(A)thenameandaddressoftheHolderandofeachcontrolperson,
(B)theclassorseriesandnumberofsharesoftheCorporationthatare,directlyor
indirectly,ownedbeneficiallyand/orofrecordbytheHolderandbyanycontrol
person,

MicrosoftCorporation

(C)adescriptionofanyagreement,arrangementorunderstanding(including
withoutlimitationanyderivativeorshortpositions,profitinterests,options,hedging
transactions,andborrowedorloanedshares)thathasbeenenteredintoasofthe
dateoftheshareholdersnoticeby,oronbehalfof,suchHolderorcontrolperson,
theeffectorintentofwhichistomitigateloss,manageriskorbenefitfromchanges
inthesharepriceofanyclassorseriesoftheCorporationsstock,ormaintain,
increaseordecreasethevotingpoweroftheHolderorcontrolpersonwithrespect
tosharesoftheCorporation(anysuchagreement,arrangementorunderstanding,
aDerivativeInstrument),

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EX3.1

(D)adescriptionofanyagreement,arrangementorunderstandingwithrespectto
thenominationorotherbusinessbetweenoramongsuchHolderorcontrolperson
andanyotherperson,includingwithoutlimitationanyagreementsthatwouldbe
requiredtobedisclosedpursuanttoItem5orItem6ofExchangeActSchedule
13D(regardlessofwhethertherequirementtofileaSchedule13Disapplicable),
(E)adescriptionofthetermsofandnumberofsharessubjecttoanyshortinterest
inanysecurityoftheCorporationinwhichtheHolderoranycontrolpersonhasan
interest(forpurposesoftheseBylawsapersonshallhaveashortinterestina
securityiftheHolderdirectlyorindirectly,throughanycontract,arrangement,
understanding,relationshiporotherwise,hastheopportunitytoprofitorsharein
anyprofitderivedfromanydecreaseinthevalueofthesubjectsecurity),
(F)adescriptionofanyproportionateinterestinsharesoftheCorporationorany
DerivativeInstrumentheld,directlyorindirectly,byageneralorlimitedpartnership
orlimitedliabilitycompanyorsimilarentityinwhichtheHolderoranycontrolperson
isageneralpartneror,directlyorindirectly,beneficiallyownsaninterestina
generalpartner,isthemanager,managingmemberordirectlyorindirectly
beneficiallyownsaninterestinthemanagerormanagingmemberofalimited
liabilitycompanyorsimilarentity,
(G)adescriptionofthetermsofandnumberofsharessubjecttoanyperformance
relatedfees(otherthananassetbasedfee)thattheHolderoranycontrolpersonis
entitledtobasedonanyincreaseordecreaseinthevalueofsharesofthe
CorporationorDerivativeInstruments,ifany,
(H)adescriptionofthetermsofandnumberofsharessubjecttoanyarrangements,
rights,orotherinterestsdescribedinSections1.13(b)(i)(C)(G)heldbymembersof
suchHoldersorcontrolpersonsimmediatefamilysharingthesamehousehold,
(I)anyotherinformationrelatingtotheHolderorcontrolpersonoranypersonwho
wouldbeconsideredaparticipantinasolicitationwithsuchHolderorcontrolperson
thatwouldberequiredtobedisclosedinaproxystatementorotherfilingsrequired
tobemadeinconnectionwithsolicitationsofproxiesfor,asapplicable,theproposal
and/orfortheelectionofdirectorsinacontestedelectionpursuanttoSection14of
theExchangeActandtherulesandregulationsthereunder,and
(J)anyotherinformationasreasonablyrequestedbytheCorporation.
AlloftheinformationdescribedinthisSection1.13(b)(i)shallbeprovidedasofthedateofthe
noticeandshallbeprovidedasoftherecorddateforthemeetingviaasupplementalstatement
bytheHolderdeliveredtotheCorporationnotlaterthan10daysaftertherecorddate.
(ii)Ifthenoticerelatestoanybusinessotherthananominationofadirectorordirectorsthatthe
shareholderproposestobringatthemeeting,thenoticemustsetforth:

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(A)abriefdescriptionofthebusinessdesiredtobebroughtatthemeeting,
includingthetextofanyproposaltobepresentedforavoteatthemeeting,the
reasonsforconductingsuchbusinessatthemeeting,andanymaterialinterestof
theHolderinsuchbusiness,and

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(B)adescriptionofallagreements,arrangementsandunderstandings,directand
indirect,betweentheHolder,andanyotherpersonorpersons(includingtheir
names)inconnectionwiththeproposalofsuchbusinessbytheHolder.
(iii)Setforth,astoeachperson,ifany,whomtheHolderproposestonominateforelectionor
reelectiontotheBoard:
(A)allinformationrelatingtoeachnomineethatwouldberequiredtobedisclosedin
aproxystatementorotherfilingsrequiredtobemadeinconnectionwith
solicitationsofproxiesforelectionofdirectorsinacontestedelectionpursuantto
Section14oftheExchangeActandtherulesandregulationsthereunder(including
thenomineeswrittenconsenttobeingnamedintheproxystatementasanominee
andtoservingasadirectorifelected),and
(B)adescriptionofalldirectandindirectcompensationandothermaterialmonetary
agreements,arrangements,andunderstandingsduringthepastthreeyears,and
anyothermaterialrelationships,betweenoramongtheHolderanditsaffiliatesand
associates,orothersactinginconcerttherewith,ontheonehand,andeach
proposednominee,andeachproposednomineesrespectiveaffiliatesand
associates,orothersactinginconcerttherewith,ontheotherhand,including,
withoutlimitationallinformationthatwouldberequiredtobedisclosedpursuantto
Item404ofRegulationSKiftheHoldermakingthenominationoronwhosebehalf
thenominationismade,oranyaffiliateorassociatethereoforpersonactingin
concerttherewith,weretheregistrantforpurposesofItem404andthenominee
wereadirectororexecutiveofficerofsuchregistrant.
(iv)ArepresentationthattheHolderintendstovoteorcausetobevoteditsstockatthe
meetingandintendstoappearinpersonorbyarepresentativeatthemeetingtonominatethe
personorproposethebusinessspecifiedinthenotice.
(v)WithrespecttoeachnomineeforelectionorreelectiontotheBoard,theHoldershall
includeacompletedandsignedquestionnaire,representation,andagreementrequiredby
Section1.15.TheCorporationmayrequireanyproposednomineetofurnishsuchother
informationasmayreasonablyberequiredbytheCorporationtodeterminetheeligibilityofthe
proposednomineetoserveasanindependentdirectoroftheCorporationorthatcouldbe
materialtoareasonableshareholdersunderstandingoftheindependence,orlackthereof,of
thenominee.

(c)NotwithstandinganythinginSection1.13(a)tothecontrary,ifthenumberofdirectorstobeelectedto
theBoardisincreasedandthereisnopublicannouncementbytheCorporationnamingallofthe
nomineesfordirectororspecifyingthesizeoftheincreasedBoardatleast100dayspriortothefirst
anniversaryoftheprecedingyearsannualmeeting,ashareholdersnoticerequiredbytheseBylaws
shallalsobeconsideredtimely,butonlywithrespecttonomineesforanynewpositionscreatedbysuch
increase,ifitshallbedeliveredtotheSecretaryattheprincipalexecutiveofficesoftheCorporationnot
laterthanthecloseofbusinessonthe10thdayfollowingthedayonwhichthepublicannouncement
namingallnomineesorspecifyingthesizeoftheincreasedBoardisfirstmadebytheCorporation.

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(d)ForpurposesoftheseBylaws,publicannouncementshallmeandisclosureinapressrelease
reportedbyanationalnewsserviceorinadocumentpubliclyfiledbytheCorporationwiththeSecurities
andExchangeCommissionpursuanttoSection13,14,or15(d)oftheExchangeActandtherulesand
regulationsthereunder.
(e)OnlythosepersonswhoarenominatedinaccordancewiththeproceduressetforthintheseBylaws
shallbeeligibletoserveasdirectors.Onlysuchbusinessshallbeconductedatameetingof
shareholdersasshallhavebeenbroughtatthemeetinginaccordancewiththeproceduressetforthin
theseBylaws.Exceptasotherwiseprovidedbylaw,theArticlesofIncorporation,ortheseBylaws,the
Chairmanofthemeetingshallhavethepoweranddutytodeterminewhetheranominationorany
businessproposedtobebroughtatthemeetingwasmadeorproposed,asthecasemaybe,in
compliancewiththeproceduressetforthintheseBylawsand,ifanyproposednominationorbusinessis
notincompliancewiththeseBylaws,todeclarethatsuchproposalornominationshallbedisregarded.
(f)NotwithstandingtheforegoingprovisionsoftheseBylaws,theHolderalsoshallcomplywithall
applicablerequirementsoftheExchangeActandtherulesandregulationsthereunderwithrespectto
thematterssetforthintheseBylawsprovided,however,thatanyreferencesintheseBylawstothe
ExchangeActortherulesthereunderarenotintendedtoandshallnotlimittherequirementsapplicable
tonominationsorproposalsastoanyotherbusinesstobeconsideredpursuanttoSection1.3or
Section1.13.

1.14

(g)NothingintheseBylawsshallbedeemedtoaffectanyrightsofshareholderstorequestinclusionof
proposalsintheCorporationsproxystatementpursuanttoRule14a8undertheExchangeAct.Notice
ofshareholderproposalsthatare,orthattheshareholderorHolderintendstobe,governedbyRule
14a8undertheExchangeActarenotgovernedbytheseBylaws.NothingintheseBylawsshallbe
deemedtoconstituteaprocedurefortherecognitionofabeneficialownerasashareholderofthe
CorporationwithinthemeaningofSection23B.07.230oftheWashingtonBusinessCorporationact.
ProxyAccessforDirectorNominations
(a)TheCorporationshallincludeinitsproxystatementandonitsformofproxyforanannualmeetingof
shareholdersthenameof,andtheAdditionalInformation(asdefinedbelow)relatingto,anynomineefor
electionorreelectiontotheBoardwhosatisfiestheeligibilityrequirementsinthisSection1.14(a
ShareholderNominee)andwhoisidentifiedinanoticethatcomplieswithSection1.13andthatin
additioncomplieswithSection1.14(f)andthatistimelydeliveredpursuanttoSection1.14(g)(the
ShareholderNotice)byashareholderonbehalfofoneormoreHolders,butinnocasemorethan
twentyHolders,who:
(i)electatthetimeofdeliveringtheShareholderNoticetohavesuchShareholderNominee
includedintheCorporationsproxymaterials,
(ii)asofthedateoftheShareholderNotice,own(asdefinedbelowinSection1.14(c))a
numberofsharesthatrepresentsatleast3%oftheoutstandingsharesoftheCorporation
entitledtovoteintheelectionofdirectors(theRequiredShares)andhasowned(asdefined
belowinSection1.14(c))continuouslytheRequiredShares(asadjustedforanystocksplits,
stockdividends,orsimilarevents)foratleastthreeyears,and

(iii)satisfytheadditionalrequirementsintheseBylaws(suchHolderorHolderscollectively,an
EligibleShareholder).

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(b)ForpurposesofsatisfyingtheownershiprequirementunderSection1.14(a):
(i)theoutstandingsharesoftheCorporationownedbyoneormoreHoldersmaybe
aggregated,providedthatthenumberofshareholdersandotherbeneficialownerswhose
ownershipofsharesisaggregatedforsuchpurposeshallnotexceedtwenty,and
(ii)agroupofanytwoormorefundsshallbetreatedasoneHolderiftheyare(A)under
commonmanagementandinvestmentcontrol,or(B)partofagroupofinvestment
companies,assuchtermisdefinedinSection12(d)(1)(G)(ii)oftheInvestmentCompanyAct
of1940,asamended.
(c)ForpurposesofthisSection1.14,anEligibleShareholderownsonlythoseoutstandingsharesof
theCorporationastowhichtheHolderpossessesboth:
(i)thefullvotingandinvestmentrightspertainingtothesharesand
(ii)thefulleconomicinterestin(includingtheopportunityforprofitandriskoflosson)such
shares
providedthatthenumberofsharescalculatedinaccordancewithclauses(i)and(ii)shallnot
includeanyshares:
(A)soldbysuchHolderoranycontrolpersoninanytransactionthathasnotbeen
settledorclosed,
(B)borrowedbysuchHolderoranycontrolpersonforanypurposesorpurchasedby
suchHolderoranycontrolpersonpursuanttoanagreementtoresell,or
(C)subjecttoanyoption,warrant,forwardcontract,swap,contractofsale,other
derivativeorsimilaragreemententeredintobysuchHolderoranyofitscontrol
persons,whetheranysuchinstrumentoragreementistobesettledwithsharesorwith
cashbasedonthenotionalamountorvalueofoutstandingsharesoftheCorporation,
inanysuchcasewhichinstrumentoragreementhas,orisintendedtohave,the
purposeoreffectof:
(1)reducinginanymanner,toanyextentoratanytimeinthefuture,such
Holdersoranyofitscontrolpersonsfullrighttovoteordirectthevotingof
anysuchshares,and/or
(2)hedging,offsetting,oralteringtoanydegreegainorlossarisingfromthe
fulleconomicownershipofsuchsharesbysuchHolderorcontrolperson.

AHolderownssharesheldinthenameofanomineeorotherintermediarysolongastheHolder
retainstherighttoinstructhowthesharesarevotedwithrespecttotheelectionofdirectorsand
possessesthefulleconomicinterestintheshares.AHoldersownershipofsharesshallbedeemedto
continueduringanyperiodinwhichtheHolderhasdelegatedanyvotingpowerbymeansofaproxy,
powerofattorney,orotherinstrumentorarrangementthatisrevocableatanytimebytheHolder.A
HoldersownershipofsharesshallbedeemedtocontinueduringanyperiodinwhichtheHolderhas
loanedsuchsharesprovidedthattheHolderhasthepowertorecallsuchloanedsharesonfivebusiness
daysnotice.Thetermsowned,owningandothervariationsofthewordownshallhavecorrelative
meanings.WhetheroutstandingsharesoftheCorporationareownedforthesepurposesshallbe
determinedbytheBoard.

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(d)NoHoldermaybeamemberofmorethanonegroupofHoldersconstitutinganEligibleShareholder
underthisSection1.14.
(e)ForpurposesofthisSection1.14,theRequiredInformationthattheCorporationwillincludeinits
proxystatementis:
(i)theinformationconcerningtheShareholderNomineeandtheEligibleShareholderthatis
requiredtobedisclosedintheCorporationsproxystatementbytheapplicablerequirementsof
theExchangeActandtherulesandregulationsthereunderand
(ii)iftheEligibleShareholdersoelects,awrittenstatementoftheEligibleShareholder,notto
exceed500words,insupportofitsShareholderNominee,whichmustbeprovidedatthesame
timeastheShareholderNoticeforinclusionintheCorporationsproxystatementfortheannual
meeting(theStatement).
NotwithstandinganythingtothecontrarycontainedinthisSection1.14,theCorporationmayomitfrom
itsproxymaterialsanyinformationorStatementthatit,ingoodfaith,believeswouldviolateany
applicablelaworregulation.NothinginthisSection1.14shalllimittheCorporationsabilitytosolicit
againstandincludeinitsproxymaterialsitsownstatementsrelatingtoanyEligibleShareholderor
ShareholderNominee.
(f)TheShareholderNoticeshallsetforththeinformationrequiredunderSection1.13(b)(i),(iii),and(v)
oftheseBylawsandinadditionshallsetforth:
(i)thewrittenconsentofeachShareholderNomineetobeingnamedintheCorporationsproxy
statementasanominee
(ii)acopyoftheSchedule14NthathasbeenorconcurrentlyisfiledwiththeSecuritiesand
ExchangeCommissionunderExchangeActRule14a18and
(iii)thewrittenagreementoftheEligibleShareholder(orinthecaseofagroup,eachHolder
whosesharesareaggregatedforpurposesofconstitutinganEligibleShareholder)addressed
totheCorporation,settingforththefollowingadditionalagreements,representations,and
warranties:
(A)settingforthandcertifyingtothenumberofsharesoftheCorporationitowns
andhasowned(asdefinedinSection1.14(c))continuouslyforatleastthreeyears
asofthedateoftheShareholderNoticeandagreeingtocontinuetoownsuch
sharesthroughthedateoftheannualmeeting,whichstatementshallalsobe
includedinthewrittenstatementssetforthinItem4oftheSchedule14Nfiledby
theEligibleShareholderwiththeSecuritiesandExchangeCommission
(B)theEligibleShareholdersagreementtoprovidewrittenstatementsfromthe
recordholderandintermediariesasrequiredunderSection1.14(h)verifyingthe
EligibleShareholderscontinuousownershipoftheRequiredSharesthroughand
asofthebusinessdayimmediatelyprecedingthedateoftheannualmeeting
(C)theEligibleShareholdersrepresentationandagreementthattheEligible
Shareholder(includingeachmemberofanygroupofshareholdersthattogetheris
anEligibleShareholderunderthisSection1.14):

MicrosoftCorporation

(1)acquiredtheRequiredSharesintheordinarycourseofbusinessandnot
withtheintenttochangeorinfluencecontrolattheCorporation,anddoesnot
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(2)hasnotnominatedandwillnotnominateforelectiontotheBoardatthe
annualmeetinganypersonotherthantheShareholderNominee(s)being
nominatedpursuanttothisSection1.14,
(3)hasnotengagedandwillnotengageina,andhasnotbeenandwillnot
beaparticipantinanotherpersons,solicitationwithinthemeaningof
ExchangeActRule14a1(l),insupportoftheelectionofanyindividualasa
directorattheannualmeetingotherthanitsShareholderNomineeora
nomineeoftheBoard,and
(4)willnotdistributetoanyshareholderanyformofproxyfortheannual
meetingotherthantheformdistributedbytheCorporationand
(D)theEligibleShareholdersagreementto:
(1)assumeallliabilitystemmingfromanylegalorregulatoryviolationarising
outoftheEligibleShareholderscommunicationswiththeshareholdersofthe
CorporationoroutoftheinformationthattheEligibleShareholderprovidedto
theCorporation,
(2)indemnifyandholdharmlesstheCorporationandeachofitsdirectors,
officersandemployeesindividuallyagainstanyliability,lossordamagesin
connectionwithanythreatenedorpendingaction,suitorproceeding,whether
legal,administrativeorinvestigative,againsttheCorporationoranyofits
directors,officersoremployeesarisingoutoftheEligibleShareholders
communicationswiththeshareholdersoftheCorporationoroutofthe
informationthattheEligibleShareholderprovidedtotheCorporationpursuant
tothisSection1.14,
(3)complywithallotherlawsandregulationsapplicabletoanysolicitationin
connectionwiththeannualmeeting,
(4)fileallmaterialsdescribedbelowinSection1.14(h)(iii)withtheSecurities
andExchangeCommission,regardlessofwhetheranysuchfilingisrequired
underExchangeActRegulation14A,orwhetheranyexemptionfromfilingis
availableforsuchmaterialsunderExchangeActRegulation14A,and
(5)providetotheCorporationpriortotheannualmeetingsuchadditional
informationasnecessaryorreasonablyrequestedbytheCorporationand
(iv)inthecaseofanominationbyagroupofshareholdersthattogetherisanEligible
Shareholder,thedesignationbyallgroupmembersofonegroupmemberthatisauthorizedto
actonbehalfofallsuchmemberswithrespecttothenominationandmattersrelatedthereto,
includinganywithdrawalofthenomination.

(g)TobetimelyunderthisSection1.14,theShareholderNoticemustbereceivedbythesecretaryofthe
Corporationnotlaterthanthecloseofbusinessonthe120thdaynorearlierthanthecloseofbusiness
onthe150thdaypriortothefirstanniversaryofthedatethedefinitiveproxystatementwasfirstreleased
toshareholdersinconnectionwiththeprecedingyearsannualmeetingofshareholdersprovided,
howeverthatintheeventthedateoftheCurrentYearMeetingismorethan30daysbeforeormore
than60daysaftersuchanniversarydate,noticebytheshareholdertobetimelymustbesodeliverednot
earlierthanthecloseof

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businessonthe120thdayandnotlaterthanthecloseofbusinessonthelaterofthe90thdaypriorto
theCurrentYearMeetingorthe10thdayfollowingthedayonwhichpublicannouncementofthedateof
theCurrentYearMeetingisfirstmadebytheCorporation.Innoeventshallanyadjournmentor
postponementofanannualmeeting,ortheannouncementthereof,commenceanewtimeperiodforthe
givingoftheShareholderNoticeasdescribedabove.
(h)AnEligibleShareholder(orinthecaseofagroup,eachHolderwhosesharesareaggregatedfor
purposesofconstitutinganEligibleShareholder)must:
(i)withinfivebusinessdaysafterthedateoftheShareholderNotice,provideoneormore
writtenstatementsfromtherecordholder(s)oftheRequiredSharesandfromeach
intermediarythroughwhichtheRequiredSharesareorhavebeenheld,ineachcaseduring
therequisitethreeyearholdingperiod,verifyingthattheEligibleShareholderowns,andhas
ownedcontinuouslyfortheprecedingthreeyears,theRequiredShares,
(ii)includeinthewrittenstatementsprovidedpursuanttoItem4ofSchedule14Nfiledwiththe
SecuritiesandExchangeCommissionastatementcertifyingthatitownsandcontinuouslyhas
owned,asdefinedinSection1.14(c),theRequiredSharesforatleastthreeyears,
(iii)filewiththeSecuritiesandExchangeCommissionanysolicitationorothercommunication
relatingtotheCurrentYearMeeting,oneormoreoftheCorporationsdirectorsordirector
nomineesoranyShareholderNominee,regardlessofwhetheranysuchfilingisrequiredunder
ExchangeActRegulation14Aorwhetheranyexemptionfromfilingisavailableforsuch
solicitationorothercommunicationunderExchangeActRegulation14A,and
(iv)astoanygroupoffundswhosesharesareaggregatedforpurposesofconstitutingan
EligibleShareholder,withinfivebusinessdaysafterthedateoftheShareholderNotice,provide
documentationreasonablysatisfactorytotheCorporationthatdemonstratesthatthefundsare
undercommonmanagementandinvestmentcontrol.

(i)WithinthetimeperiodspecifiedinSection1.14(g)fordeliveryoftheShareholderNotice,a
ShareholderNomineemustdelivertotheSecretaryoftheCorporationthequestionnaire,representation
andagreementsetforthinSection1.15below.AttherequestoftheCorporation,theShareholder
Nomineemustpromptly,butinanyeventwithinfivebusinessdaysofsuchrequest,submitanyadditional
completedandsignedquestionnairesrequiredoftheCorporationsdirectorsandprovidetothe
Corporationsuchotherinformationasitmayreasonablyrequest.TheCorporationmayrequestsuch
additionalinformationasnecessarytopermittheBoardtodetermineifeachShareholderNomineeis
independentunderthelistingstandardsoftheprincipalU.S.exchangeuponwhichthesharesofthe
Corporationarelisted,anyapplicablerulesoftheSecuritiesandExchangeCommissionandanypublicly
disclosedstandardsusedbytheBoardindetermininganddisclosingtheindependenceofthe
Corporationsdirectors.

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(j)NotwithstandinganythingtothecontrarycontainedinthisSection1.14,theCorporationmayomit
fromitsproxystatementanyShareholderNominee,andsuchnominationshallbedisregardedandno
voteonsuchShareholderNomineewilloccur,notwithstandingthatproxiesinrespectofsuchvotemay
havebeenreceivedbytheCorporation,if:
(i)theSecretaryoftheCorporationreceivesnoticethatashareholderintendstonominatea
personforelectiontotheBoardwhichshareholderdoesnotelecttohaveitsnominee(s)
includedintheCorporationsproxymaterialspursuanttothisSection1.14,
(ii)theEligibleShareholdermateriallybreachesanyofitsagreements,representations,or
warrantiessetforthintheShareholderNotice,orifanyoftheinformationintheShareholder
Noticewasnot,whenprovided,trueandcorrect,or
(iii)theShareholderNominee(A)isnotindependentunderthelistingstandardsoftheprincipal
U.S.exchangeuponwhichthesharesoftheCorporationarelisted,anyapplicablerulesofthe
SecuritiesandExchangeCommission,andanypubliclydisclosedstandardsusedbytheBoard
indetermininganddisclosingtheindependenceoftheCorporationsdirectors,(B)doesnot
qualifyasindependentundertheauditcommitteeindependencerequirementssetforthinthe
rulesoftheprincipalU.S.exchangeonwhichsharesoftheCorporationarelisted,asanon
employeedirectorunderExchangeActRule16b3,orasanoutsidedirectorforthe
purposesofSection162(m)oftheInternalRevenueCode(oranysuccessorprovision),(C)is
orhasbeen,withinthepastthreeyears,anofficerordirectorofacompetitor,asdefinedin
Section8oftheClaytonAntitrustActof1914,asamended,or(D)isanamedsubjectofa
pendingcriminalproceeding(excludingtrafficviolationsandotherminoroffenses)orhasbeen
convictedinacriminalproceedingwithinthepasttenyears.
(k)ThenumberofShareholderNomineesappearingintheCorporationsproxymaterialswithrespectto
anannualmeetingofshareholders(includinganyShareholderNomineewhosenamewassubmittedfor
inclusionintheCorporationsproxymaterialsbutwhoisnominatedbytheBoardasaBoardnominee),
togetherwithanynomineeswhowerepreviouslyelectedtotheBoardasShareholderNomineesatany
oftheprecedingtwoannualmeetingsandwhoarerenominatedforelectionatsuchannualmeetingby
theBoardandanyShareholderNomineewhowasqualifiedforinclusionintheCorporationsproxy
materialsbutwhosenominationissubsequentlywithdrawn,shallnotexceedthegreaterof(i)twoor(ii)
20%ofthenumberofdirectorsinofficeasofthelastdayonwhichaShareholderNoticemaybe
deliveredpursuanttothisSection1.14withrespecttotheannualmeeting,orifsuchamountisnota
wholenumber,theclosestwholenumberbelow20%.IntheeventthatthenumberofShareholder
NomineessubmittedbyEligibleShareholderspursuanttothisSection1.14exceedsthismaximum
number,eachEligibleShareholderwillselectoneShareholderNomineeforinclusioninthe
Corporationsproxymaterialsuntilthemaximumnumberisreached,goinginorderofthenumber
(largesttosmallest)ofsharesoftheCorporationeachEligibleShareholderdisclosedasownedinits
respectiveShareholderNoticesubmittedtotheCorporation.Ifthemaximumnumberisnotreachedafter
eachEligibleShareholderhasselectedoneShareholderNominee,thisselectionprocesswillcontinue
asmanytimesasnecessary,followingthesameordereachtime,untilthemaximumnumberisreached.

(l)AnyShareholderNomineewhoisincludedintheCorporationsproxymaterialsforaparticularannual
meetingofshareholdersbuteither(i)withdrawsfromorbecomesineligibleorunavailableforelectionat
theannualmeeting,or(ii)doesnotreceiveanumberofvotescastinfavorofhisorherelectionequalto
atleastfifteenpercent(15%)ofthesharespresentinpersonorrepresentedbyproxyandentitledto
voteintheelectionofdirectors,willbeineligibletobeaShareholderNomineepursuanttothisSection
1.14forthenexttwoannualmeetings.

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EX3.1

1.15SubmissionofQuestionnaire,RepresentationandAgreement.Tobeeligibletobeanomineefor
electionorreelectionasadirectoroftheCorporationbyaHolderorEligibleShareholder,apersonmust
completeanddeliver(inaccordancewiththetimeperiodsprescribedfordeliveryofnoticeunderSection1.13or
1.14,whicheverisapplicable)totheSecretaryattheprincipalexecutiveofficesoftheCorporationawritten
questionnaireprovidingtheinformationrequestedaboutthebackgroundandqualificationsofsuchpersonandthe
backgroundofanyotherpersonorentityonwhosebehalfthenominationisbeingmadeandawritten
representationandagreement(thequestionnaire,representation,andagreementtobeintheformprovidedby
theSecretaryuponwrittenrequest)thatsuchperson:
(a)isnotandwillnotbecomeapartyto:
(i)anyagreement,arrangementorunderstandingwith,andhasnotgivenanycommitmentor
assuranceto,anypersonorentityastohowtheperson,ifelectedasadirectorofthe
Corporation,willactorvoteonanyissueorquestion(aVotingCommitment)thathasnot
beendisclosedtotheCorporation,or
(ii)anyVotingCommitmentthatcouldlimitorinterferewiththepersonsabilitytocomply,if
electedasadirectoroftheCorporation,withthepersonsfiduciarydutiesunderapplicablelaw,
(b)isnotandwillnotbecomeapartytoanyagreement,arrangementorunderstandingwithanyperson
orentityotherthantheCorporationwithrespecttoanydirectorindirectcompensation,reimbursement,
orindemnificationinconnectionwithserviceoractionasadirectorthathasnotbeendisclosedtherein,
and
(c)inthepersonsindividualcapacityandonbehalfofanypersonorentityonwhosebehalfthe
nominationisbeingmade,wouldbeincompliance,ifelectedasadirectoroftheCorporation,andwill
complywithallapplicablepubliclydisclosedcorporategovernance,conflictofinterest,confidentiality,and
stockownershipandtradingpoliciesandguidelinesoftheCorporation.
1.16BylawAmendments.TheshareholdersmayamendorrepealtheseBylaws,oradoptnewbylaws,even
thoughtheBylawsalsomaybeamendedorrepealed,ornewbylawsalsomaybeadopted,bytheBoard,by
actiontakeninthemannerprovidedbytheWBCAandtheArticlesofIncorporation.
ARTICLEII
BoardofDirectors
2.1NumberandQualifications.ThebusinessaffairsandpropertyoftheCorporationshallbemanagedbya
Boardofnotlessthanfivedirectorsnormorethanfourteendirectors.Thenumberofdirectorsmaybeincreased
ordecreasedbyresolutionoftheBoardorbytheshareholdersattheannualmeeting.Directorsneednotbe
shareholdersoftheCorporationorresidentsoftheStateofWashington.
2.2ElectionTermofOffice.Ateachannualshareholdersmeetingtheshareholdersshallelectthedirectors
toholdofficeuntilthenextannualmeetingoftheshareholdersanduntiltheirrespectivesuccessorsareelected
andqualified.Ifthedirectorsshallnothavebeenelectedatanyannualmeeting,theymaybeelectedataspecial
meetingofshareholderscalledforthatpurposeinthemannerprovidedbytheseBylaws.
ExceptasprovidedinSection2.10andinthisparagraph,eachdirectorshallbeelectedbythevoteofthemajority
ofthevotescast.Amajorityofvotescastmeansthatthenumberofsharescastforadirectorselectionexceeds
thenumberofvotescastagainstthatdirector.Thefollowingshallnotbe

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votescast:(a)asharewhoseballotismarkedaswithheld(b)ashareotherwisepresentatthemeetingbutfor
whichthereisanabstentionand(c)ashareotherwisepresentatthemeetingforwhichashareholdergivesno
authorityordirection.Inacontestedelection,thedirectorsshallbeelectedbythevoteofapluralityofthevotes
cast.
Acontestedelectionisoneinwhich(a)onthelastdayfordeliveryofanoticeunderSection1.13(a),a
shareholderhascompliedwiththerequirementsofSection1.13regardingoneormorenominees,oronthelast
dayfordeliveryofanoticeunderSection1.14(g),anEligibleShareholderhascompliedwiththerequirementsof
Section1.14regardingoneormorenomineesand(b)priortothedatethatnoticeofthemeetingisgiven,the
BoardhasnotmadeadeterminationthatnoneofthecandidaciesoftheshareholderorEligibleShareholders
nomineescreatesabonafideelectioncontest.ForpurposesoftheseBylaws,itisassumedthatonthelastday
fordeliveryofanoticeunderSection1.13(a)orSection1.14(g),thereisacandidatenominatedbytheBoardfor
eachofthedirectorpositionstobevotedonatthemeeting.Thefollowingproceduresapplyinanoncontested
election.Anomineewhodoesnotreceiveamajorityvoteshallnotbeelected.Exceptasotherwiseprovidedin
thisparagraph,anincumbentdirectornotelectedbecauseheorshedoesnotreceiveamajorityvoteshall
continuetoserveasaholdoverdirectoruntiltheearliestof(a)90daysafterthedateonwhichaninspector
determinesthevotingresultsastothatdirectorpursuanttoRCW23B.07.290(b)thedateonwhichtheBoard
appointsanindividualtofilltheofficeheldbysuchdirector,whichappointmentshallconstitutethefillingofa
vacancybytheBoardpursuanttoSection2.10or(c)thedateofthedirectorsresignation.Anyvacancyresulting
fromthenonelectionofadirectorunderthisSection2.2maybefilledbytheBoardasprovidedin
Section2.10.TheGovernanceandNominatingCommitteewillconsiderpromptlywhethertofilltheofficeofa
nomineefailingtoreceiveamajorityvoteandmakearecommendationtotheBoardaboutfillingtheoffice.The
BoardwillactontheGovernanceandNominatingCommitteesrecommendationandwithinninety(90)daysafter
thecertificationoftheshareholdervotewilldisclosepubliclyitsdecision.Exceptasprovidedinthenextsentence,
nodirectorwhofailedtoreceiveamajorityvoteforelectionwillparticipateintheGovernanceandNominating
CommitteerecommendationorBoarddecisionaboutfillinghisorheroffice.Ifnodirectorreceivesamajorityvote
inanuncontestedelection,thentheincumbentdirectors(a)willnominateaslateofdirectorsandholdaspecial
meetingforthepurposeofelectingthosenomineesassoonaspracticable,and(b)mayintheinterimfilloneor
moreofficeswiththesamedirector(s)whowillcontinueinofficeuntiltheirsuccessorsareelected.
2.3RegularMeetings.RegularmeetingsoftheBoardshallbeheldatsuchplaces,andatsuchtimesasthe
Boardmaydetermine,and,ifsodetermined,nonoticeneedbegiven.AregularmeetingoftheBoardmaybe
heldwithoutnoticeimmediatelyaftertheannualmeetingofshareholdersatthesameplaceatwhichsuch
meetingwasheld.
2.4SpecialMeetings.SpecialmeetingsoftheBoardmaybeheldatanytimeorplaceuponthecallofa
majorityofdirectors,theChiefExecutiveOfficerortheChiefOperatingOfficer.
2.5Notice.NonoticeisrequiredforregularmeetingsoftheBoard.NoticeofspecialmeetingsoftheBoard,
statingthedate,time,andplace,shallbegiveninamannerdescribedinSection3.3atleasttwo(2)dayspriorto
thedateofthemeeting.Thepurposeofthemeetingneednotbegiveninthenotice.
2.6WaiverofNotice.AdirectormaywaivenoticeofaspecialmeetingoftheBoardeitherbeforeorafterthe
meeting,andthewaivershallbedeemedtheequivalentofgivingnotice.Thewaivermustbegiveninaccordance
withtherequirementsforwrittenorelectronicnoticeinSection3.3.Attendanceorparticipationofadirectorata
meetingshallconstitutewaiverofnoticeofthatmeetingunlessthedirectorattendsorparticipatesfortheexpress
purposeofobjectingtothetransactionofbusinessbecausethemeetinghasnotbeenlawfullycalledorconvened.

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2.7QuorumofDirectors.AmajorityofthemembersoftheBoardshallconstituteaquorumforthetransaction
ofbusiness,butifatanymeetingoftheBoardthereshallbelessthanaquorumpresent,amajorityofthose
presentmayadjournthemeetingfromtimetotimeuntilaquorumshallhavebeenobtained.Whenaquorumis
presentatanymeeting,amajorityofthememberspresentshalldecideanyquestionbroughtatsuchmeeting,
exceptasotherwiseprovidedbytheArticlesofIncorporationorbytheseBylaws.
2.8Adjournment.Amajorityofthedirectorspresent,eveniflessthanaquorum,mayadjournameetingand
continueittoalatertime.Noticeoftheadjournedmeetingorofthebusinesstobetransactedthereat,otherthan
byannouncement,shallnotbenecessary.Atanyadjournedmeetingatwhichaquorumispresent,anybusiness
maybetransactedwhichcouldhavebeentransactedatthemeetingasoriginallycalled.
2.9Resignation.AdirectoroftheCorporationmayresignatanytimebygivingwrittennoticetotheBoard,the
Chairman,theChiefExecutiveOfficer,ortheSecretaryoftheCorporation.Anydirectorresignationiseffective
whenthenoticeisdelivered,unlessthenoticespecifiesalatereffectivedate.
2.10Vacancies.UnlessotherwiseprovidedbytheWBCA,incaseofanyvacancyintheBoard,includinga
vacancyresultingfromanincreaseinthenumberofdirectorsornonelectionofadirectorunderSection2.2,the
remainingdirectors,whetherconstitutingaquorumornot,mayfillthevacancy.
2.11Compensation.TheBoardshallhavethesoleauthoritytofixthecompensationofdirectors.
2.12Committees.TheBoard,byresolutionadoptedbyamajorityoftheBoard,maydesignatefromamongits
membersoneormorecommittees,eachofwhich:
(a)Shallhavetwo(2)ormoremembers
(b)Shallbegovernedbythesamerulesregardingmeetings,actionwithoutmeetings,notice,andwaiver
ofnotice,andquorumandvotingrequirementsthatapplytotheBoardand
(c)Totheextentprovidedintheresolution,shallhaveandmayexercisealltheauthorityoftheBoard,
exceptnocommitteeshallhavetheauthorityto:
(i)Authorizeorapproveadistributionexceptaccordingtoageneralformulaormethod
prescribedbytheBoard
(ii)ApproveorproposetoshareholdersactionwhichtheWBCArequirestobeapprovedby
shareholders
(iii)FillvacanciesontheBoardoronitscommittees
(iv)AmendtheArticlesofIncorporation
(v)Adopt,amend,orrepealtheseBylaws
(vi)Approveaplanofmergernotrequiringshareholderapprovalor

(vii)Authorizeorapprovetheissuanceorsaleorcontractforsaleofshares,ordeterminethe
designationandrelativerights,preferences,andlimitationsonaclassorseriesofshares,
exceptthattheBoardmayauthorizeacommittee,oraseniorexecutiveofficerofthe
Corporation,todosowithinlimitsprescribedbytheBoard.

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ARTICLEIII
SpecialMeasuresApplyingtoMeetingsof
Shareholders,theBoardofDirectorsandCommitteesoftheBoard
3.1ActionbyUnanimousConsent.AnyactionrequiredorpermittedtobetakenatameetingoftheBoardor
acommitteeoftheBoardmaybeaccomplishedwithoutameetingiftheactionistakenbyallthemembersofthe
Boardorallthemembersofthecommittee.Theactionmustbeevidencedbyoneormoreconsentsdescribing
theactiontobetaken,givenbyalldirectorsorallmembersofthecommittee,asthecasemaybe,tothe
Corporationforinclusionintheminutesinamannerequivalenttowrittenorelectronicnoticeunder
Section3.3.Directorsconsentsmaybegiveneitherbeforeoraftertheactiontaken.
Actiontakenbyunanimousconsentiseffectivewhenthelastdirectorconsentstotheaction,unlesstheconsent
specifiesalatereffectivedate.
3.2UseofCommunicationsEquipment.Meetingsoftheshareholders,theBoard,andcommitteesofthe
Boardmaybeheldusinganymeansofcommunicationbywhichallpersonsparticipatinginthemeetingcanhear
eachotherduringthemeeting.Participationbysuchmeansshallconstitutepresenceinpersonatthemeeting.
3.3Oral,WrittenandElectronicNotice.TermsusedinthisBylawshallbeasdefinedintheWBCA.
Oralnoticemaybecommunicatedinpersonorbytelephone,wire,orwirelessequipmentthatdoesnottransmita
facsimileofthenotice.Oralnoticeiseffectivewhencommunicatedifcommunicatedinacomprehensiblemanner.
Writtennoticemaybetransmittedbymail,privatecarrier,orpersonaldeliveryortelephone,wire,orwireless
equipmentthattransmitsafacsimileofthenoticeandprovidesthetransmitterwithanelectronicallygenerated
receipt.Writtennoticeiseffectiveattheearliestof:(a)whenreceived(b)five(5)daysafteritsdepositintheU.S.
mailifmailedwithfirstclasspostagetotheaddressasitappearsonthecurrentrecordsoftheCorporation(c)on
thedateshownonthereturnreceipt,ifsentbyregisteredorcertifiedmail,returnreceiptrequested,andthe
receiptissignedbyoronbehalfoftheaddressee.Writtennoticetoashareholderiseffective(a)whenmailed,if
mailedwithfirstclasspostageprepaidand(b)whendispatched,ifprepaid,byaircourier.
NoticestodirectorsandshareholdersfromtheCorporationandfromdirectorsandshareholderstothe
Corporationmaybeinanelectronictransmissionwhichcontainsorisaccompaniedbyinformationfromwhichit
canbereasonablyverifiedthatthetransmissionwasauthorizedbythedirector,theshareholder,orbythe
shareholdersattorneyinfact.SubjecttocontraryprovisionsintheWBCA,noticetoshareholdersordirectorsin
anelectronictransmissionshallbeeffectiveonlywithrespecttoshareholdersanddirectorsthathaveconsented,
intheformofarecord,toreceiveelectronicallytransmittednoticesandthathavedesignatedintheconsentthe
address,location,orsystemtowhichthesenoticesmaybeelectronicallytransmittedandwithrespecttoanotice
thatotherwisecomplieswithanyotherrequirementsoftheWBCAandanyapplicablefederallaw.Ashareholder
ordirectorwhohasconsentedtoreceiptofelectronicallytransmittednoticesmayrevokethisconsentby
deliveringarevocationtotheCorporationintheformofarecord.Theconsentofanyshareholderordirectoris
revokedif(a)theCorporationisunabletoelectronicallytransmittwoconsecutivenoticesgivenbytheCorporation
inaccordancewiththeconsent,and(b)thisinabilitybecomesknowntotheSecretary,thetransferagent,orany
otherpersonresponsibleforgivingthenotice.TheinadvertentfailurebytheCorporationtotreatthisinabilityasa
revocationdoesnotinvalidateanymeetingorotheraction.

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ARTICLEIV
Officers
4.1Positions.TheofficersoftheCorporationmaycompriseaChairman,aChiefExecutiveOfficer,oneor
morePresidents,oneormoreVicePresidents(whomaybedesignatedasCorporateVicePresidents,Senior
VicePresidents,ExecutiveVicePresidentsorGroupVicePresidents),aSecretary,andaTreasurerasappointed
bytheBoardortheChiefExecutiveOfficer.TheCorporationmayhavesuchadditionalorassistantofficers
(sometimesreferredtoasadditionalofficers)astheBoardorChiefExecutiveOfficermaydeemnecessaryfor
itsbusinessandmayappointfromtimetotime.TheBoardshallalsohavetheauthority,butshallnotberequired,
todesignateofficersastheChiefOperatingOfficer,theChiefFinancialOfficerorsimilarsuchtitles.Twoormore
officesmaybeheldbythesameperson.
Ifadirector/officerhasnotbeendesignatedasChairman,orifthedesignatedChairmanisnotpresentata
meeting,theBoardshallelectaChairmanfromamongstitsmemberstoserveasChairmanoftheBoardforsuch
meeting.TheChairmanshallpresideatallmeetingsoftheBoard,andshallhavesuchotherpowersastheBoard
maydetermine.
4.2AppointmentandTermofOffice.TheBoardshallappointtheofficersoftheCorporationannuallyatthe
firstmeetingoftheBoardheldaftereachannualmeetingoftheshareholders.Ifofficersarenotappointedatsuch
meeting,suchappointmentshalloccurwhenpossiblethereafter,ormaybeleftvacant.Eachofficershallhold
officeuntilasuccessorshallhavebeenappointedandqualifiedoruntilsaidofficersearlierdeath,resignation,or
removal.
4.3AuthorityandDutiesoftheChiefExecutiveOfficer.TheChiefExecutiveOfficershallhavegeneral
chargeandsupervisionofthebusinessoftheCorporation,shallseethatallorders,actionsandresolutionsofthe
Boardarecarriedout,andshallhavesuchotherauthorityandshallperformsuchotherdutiesassetforthinthese
Bylawsor,totheextentconsistentwiththeBylaws,suchotherauthoritiesanddutiesasprescribedbytheBoard.
4.4AuthorityandDutiesofOtherOfficers.EachofficerotherthantheChiefExecutiveOfficershallhavethe
authorityandshallperformthedutiessetforthintheseBylawsor,totheextentconsistentwiththeBylaws,the
dutiesprescribedbytheBoard,bytheChiefExecutiveOfficer,orbyanofficerauthorizedbytheBoardto
prescribethedutiesofsuchofficer.AnydesignationofdutiesbytheChiefExecutiveOfficerorotherofficershall
besubjecttoreviewbytheBoardbutshallbeinfullforceandeffectintheabsenceofsuchreview.
4.5CompensationandContractRights.TheBoardshallhaveauthority(a)tofixthecompensation,whether
intheformofsalary,bonus,stockoptionsorotherwise,ofallofficersandemployeesoftheCorporation,either
specificallyorbyformulaapplicabletoparticularclassesofofficersoremployees,and(b)toauthorizeofficersof
theCorporationtofixthecompensationofsubordinateemployees.TheBoardshallhaveauthoritytoappointa
CompensationCommitteeandmaydelegatetothatcommitteeanyorallofitsauthorityrelatingto
compensation.Theappointmentofanofficershallnotofitselfcreatecontractrights.

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4.6ResignationorRemoval.AnyofficeroftheCorporationmayresignatanytimebygivingnoticetothe
BoardortheCorporation.Anysuchresignationiseffectivewhenthenoticeisgiven,unlessthenoticespecifiesa
laterdate,andshallbewithoutprejudicetothecontractrights,ifany,oftheofficer.
TheBoard,bymajorityvoteoftheentireBoard,mayremoveanyofficeroragent,withorwithoutcause.An
officerorassistantofficer,ifappointedbyanotherofficer,alsomayberemovedbyanyofficerauthorizedto
appointofficersorassistantofficers.Theremovalshallbewithoutprejudicetothecontractrights,ifany,ofthe
personsoremoved.
4.7Vacancies.Ifanyofficebecomesvacantbyanyreason,thedirectorsmay(a)appointasuccessoror
successorswhoshallholdofficefortheunexpiredterm(b)orleavesuchofficevacant.
ARTICLEV
CertificatesofSharesandTheirTransfer
5.1IssuanceCertificatesofShares.NosharesoftheCorporationshallbeissuedunlessauthorizedbythe
Board.Suchauthorizationshallincludethemaximumnumberofsharestobeissued,theconsiderationtobe
received,andastatementthattheBoardconsiderstheconsiderationtobeadequate.Sharesmaybutneednot
berepresentedbycertificates.CertificatesforsharesoftheCorporationshallbeinaformconsistentwiththe
provisionsoftheWBCAorthelawofapredecessorcorporationandaftertheeffectivedateoftheseBylawsshall
state:
(a)ThenameoftheCorporationandthattheCorporationisorganizedunderthelawsoftheStateof
Washington
(b)Thenameofthepersontowhomissuedand
(c)Thenumberandclassofsharesandthedesignationoftheseries,ifany,whichsuchcertificate
represents.
ThecertificateshallbesignedbyoriginalorfacsimilesignatureoftwoofficersoftheCorporation,andthesealof
theCorporationmaybeaffixedthereto.
5.2RulesandRegulationsConcerningtheIssue,TransferandRegistrationofShares.TheBoardshall
havepowerandauthoritytomakeallsuchrulesandregulationsastheBoardmaydeemproperorexpedient
concerningtheissue,transferandregistrationofsharesofstock.Incaseoftheloss,mutilation,ordestructionofa
certificateofstock,aduplicatecertificatemaybeissueduponsuchtermsastheBoardshallauthorize.TheBoard
shallhavepowerandauthoritytoappointfromtimetotimeoneormoretransferagentsandregistrarofthe
sharesofstock.
5.3ShareswithoutCertificates.TheBoardmayauthorizesomeoralloftheshareswithoutcertificates.
Withinareasonabletimeaftertheissueortransferofshareswithoutcertificates,theCorporationshallsendthe
shareholderarecordcontainingtheinformationrequiredoncertificatesbytheWBCA.

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ARTICLEVI
BooksandRecords
6.1BooksofAccounts,Minutes,andShareRegister.Exceptasotherwiseprovidedbylawthe
Corporation:
(a)ShallkeepaspermanentrecordsminutesofallmeetingsofitsshareholdersandBoard,arecordof
allactionstakenbytheBoardwithoutameeting,andarecordofallactionstakenbyacommitteeofthe
BoardexercisingtheauthorityoftheBoardfortheCorporation
(b)Shallmaintainappropriateaccountingrecords
(c)Oritsagentshallmaintainarecordofitsshareholders,inaformthatpermitspreparationofalistof
thenamesandaddressesofallshareholders,inalphabeticalorderbyclassofsharesshowingthe
numberandclassofsharesheldbyeachand
(d)Shallkeepacopyofthefollowingrecordsatitsprincipaloffice:
(i)TheArticlesorRestatedArticlesofIncorporationandallamendmentstothemineffect
(ii)TheBylawsorRestatedBylawsandallamendmentstothemcurrentlyineffect
(iii)Theminutesofallshareholdersmeetings,andrecordsofallactionstakenbyshareholders
withoutameeting,forthepastthree(3)years
(iv)Itsfinancialstatementsforthepastthree(3)years,includingbalancesheetsshowingin
reasonabledetailthefinancialconditionoftheCorporationasofthecloseofeachfiscalyear,
andanincomestatementshowingtheresultsofitsoperationsduringeachfiscalyearprepared
onthebasisofgenerallyacceptedaccountingprinciplesor,ifnot,preparedonabasis
explainedtherein
(v)Allcommunicationstoshareholdersgenerallywithinthepastthree(3)years
(vi)Alistofthenamesandbusinessaddressesofitscurrentdirectorsandofficersand
(vii)ItsmostrecentannualreportdeliveredtotheSecretaryofStateofWashington.
6.2CopiesofResolutions.AnypersondealingwiththeCorporationmayrelyuponacopyofanyofthe
recordsoftheproceedings,resolutions,orvotesoftheBoardorshareholders,whencertifiedbytheSecretary,an
assistantsecretary,orotherofficerauthorizedbytheBoard.
AsamendedeffectiveSeptember20,2016

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