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   <TITLE>DC403.pdf -- Converted by SEC Publisher 4.2, created by BCL Technologies Inc., for SEC Filing</TITLE>
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<B><FONT size=4 face="serif">UNITED STATES</FONT></B></P>
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<B><FONT size=4 face="serif">SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>
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<B><FONT face="serif">Washington, D.C. 20549</FONT></B><BR>
<BR>
<B><FONT size=5 face="serif">FORM 8-K</FONT></B><BR>
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<B><FONT face="serif">CURRENT REPORT</FONT></B><BR>
<B><FONT face="serif">Pursuant To Section 13 or 15(d) of</FONT></B><BR>
<B><FONT face="serif">the Securities Exchange Act of 1934</FONT></B><BR>
<BR>
<FONT size=2 face="serif">Date of Report: January 31, 2007</FONT><BR>
<FONT size=2 face="serif">(Date of earliest event reported)</FONT><BR>
<BR>
<B><FONT size=6 face="serif">NAUTILUS, INC.</FONT></B><BR>
<B><FONT size=1 face="serif">(Exact name of registrant as specified in its charter)</FONT></B><BR>
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<B><FONT size=2 face="serif">Washington</FONT></B>&nbsp;
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<B><FONT size=2 face="serif">001-31321</FONT></B>&nbsp;
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<B><FONT size=2 face="serif">94-3002667</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">(State or other jurisdiction of</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">(Commission</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">(I.R.S. Employer</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">incorporation)</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">File Number)</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">Identification No.)</FONT></B>&nbsp;
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<B><FONT size=2 face="serif">16400 SE Nautilus Drive</FONT></B>&nbsp;
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<B><FONT size=2 face="serif">Vancouver, Washington 98683</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">(Address of principal executive offices and zip code)</FONT></B>&nbsp;
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<B><FONT size=2 face="serif">(360) 859-2900</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">(Registrant&#146;s telephone number, including area code)</FONT></B>&nbsp;
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<FONT size=2 face="serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">  </FONT><FONT size=2 face="serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">  </FONT><FONT size=2 face="serif">Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">  </FONT><FONT size=2 face="serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></P>
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<FONT size=2 face="sans-serif">  </FONT><FONT size=2 face="serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

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<B><FONT size=2 face="serif">NAUTILUS, INC.</FONT></B><BR>
<B><FONT size=2 face="serif">FORM 8-K </FONT></B><BR>
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<B><FONT size=2 face="serif">Item 1.01. Entry into a Material Definitive Agreement</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">On January 29, 2007, Nautilus, Inc. amended its &#36;25 million revolving credit agreement with Bank of America dated October 30, 2006. The amended agreement extends the expiration date from
January 31, 2007 to February 15, 2007.</FONT></P>
<P align="left">
<B><FONT size=2 face="serif">Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">In a meeting held on January 28, 2007, the Compensation Committee of the Board of Directors of Nautilus, Inc. (the &#147;Company&#148;) adjusted the annual base salary of and approved equity
compensation for the Company&#146;s &#147;named executive officers,&#148; as defined in Item 402 of Regulation S-K.</FONT></P>
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<B><FONT size=1 face="serif">Stock</FONT></B>&nbsp;
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&nbsp;	</TD>
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<B><FONT size=1 face="serif">Performance</FONT></B>&nbsp;
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&nbsp;	</TD>
	<TD width=7% nowrap align=center>
<B><FONT size=1 face="serif">Bonus</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">Name</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">Title</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">Annual Salary</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">Options (1)</FONT></B>&nbsp;
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&nbsp;	</TD>
	<TD width=9% nowrap align=center>
<B><FONT size=1 face="serif">Units (2)</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">Percent (3)</FONT></B>&nbsp;
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<FONT size=2 face="serif">Greggory Hammann</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD width=36% nowrap align=left>
<FONT size=2 face="serif">Chairman, Chief Executive Officer and</FONT>&nbsp;
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&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=left>
&nbsp;
	</TD>
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	<TD width=16% nowrap align=left>
&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD width=36% nowrap align=left>
<FONT size=2 face="serif">President</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD width=11% nowrap align=right>
<FONT size=2 face="serif">600,000</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">50,000</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=right>
<FONT size=2 face="serif">15,000</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
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<FONT size=2 face="serif">100%</FONT>&nbsp;
	</TD>
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&nbsp;
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<FONT size=2 face="serif">Timothy Hawkins</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD width=36% nowrap align=left>
<FONT size=2 face="serif">President, Fitness Equipment Business</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD width=11% nowrap align=right>
<FONT size=2 face="serif">296,010</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">18,000</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=right>
<FONT size=2 face="serif">4,200</FONT>&nbsp;
	</TD>
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<FONT size=2 face="serif">50%</FONT>&nbsp;
	</TD>
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<FONT size=2 face="serif">William</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=36% nowrap align=left>
<FONT size=2 face="serif">Chief Financial Officer, Secretary and</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD width=11% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=left>
&nbsp;
	</TD>
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<FONT size=2 face="serif">Meadowcroft</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=36% nowrap align=left>
<FONT size=2 face="serif">Treasurer</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=right>
<FONT size=2 face="serif">286,000</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">18,000</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=right>
<FONT size=2 face="serif">4,200</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=right>
<FONT size=2 face="serif">50%</FONT>&nbsp;
	</TD>
</TR>
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&nbsp;
	</TD>
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<FONT size=2 face="serif">Darryl Thomas</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=36% nowrap align=left>
<FONT size=2 face="serif">President, International Equipment Business</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD width=11% nowrap align=right>
<FONT size=2 face="serif">235,870</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">12,000</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD width=9% nowrap align=right>
<FONT size=2 face="serif">3,000</FONT>&nbsp;
	</TD>
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<FONT size=2 face="serif">40%</FONT>&nbsp;
	</TD>
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</TR>
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<FONT size=2 face="serif">Stephen Eichen</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=36% nowrap align=left>
<FONT size=2 face="serif">Chief Information Officer</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=right>
<FONT size=2 face="serif">229,194</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">12,000</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=right>
<FONT size=2 face="serif">1,800</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=right>
<FONT size=2 face="serif">40%</FONT>&nbsp;
	</TD>
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<FONT size=2 face="serif">(1)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="serif">The stock options were issued pursuant to the Company&#146;s 2005 Long Term Incentive Plan. The options vest in four equal annual installments beginning on January 28, 2008. The options expire on January 28,
2014.</FONT>	</TD>
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<TR><TD colspan=2>&nbsp;</TD></TR><TR>
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<FONT size=2 face="serif">(2)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif">The performance unit awards were issued pursuant to the Company&#146;s 2005 Long Term Incentive Plan. The awards vest annually over three years, and entitle the executive to receive shares of the Company&#146;s common stock
if the Company achieves certain targeted annual earnings per share.</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
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<FONT size=2 face="serif">(3)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="serif">The Company&#146;s officers are eligible to receive incentive compensation based on achievement of the Company&#146;s earnings target and achievement of individual objectives. The Plan provides for a target bonus equal to a
percentage of the officer&#146;s annual base salary. This target bonus is dependent on achievement of the Company&#146;s earnings target and on achievement of the individual objectives. The percentage of annual base salary that is paid as incentive
compensation increases or decreases in the event the Company and officer achieve greater than, or less than, 100% of the earnings target and individual goals.</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="left">
<B><FONT size=2 face="serif">Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif">On January 29, 2007, the Board of Directors of Nautilus, Inc. (the "Company") adopted an amendment to the Company's Amended and Restated Bylaws to clarify that shares of the Company's capital
stock may be issued in uncertificated form (i.e. to allow direct registration to record stock ownership without issuing paper stock certificates). The text of the amendment is attached hereto as Exhibit 3.1.</FONT></P>

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<B><FONT size=2 face="serif">Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS</FONT></B></P>
<P align="left">
<TABLE><TR><TD width=18>&nbsp;</TD><TD nowrap>
<B><FONT size=2 face="serif">(c) Exhibits</FONT></B><BR>
</TD></TR></TABLE>
</P>
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<TABLE><TR><TD nowrap>
<B><FONT size=1 face="serif">Exhibit No.</FONT></B><BR>
</TD></TR></TABLE>
</P>
<P align="left">
<TABLE><TR><TD nowrap>
<B><FONT size=1 face="serif">Description</FONT></B><BR>
</TD></TR></TABLE>
</P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">3.1</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif">Amendment to Amended and Restated Bylaws of the Company, dated January 29, 2007.</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="center">
<TABLE><TR><TD align="center" nowrap>
<B><FONT size=2 face="serif">Signature</FONT></B><BR>
</TD></TR></TABLE>
</P>
<P align="left">
<FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>
<P align="center">
<TABLE><TR><TD align="center" nowrap>
<FONT size=2 face="serif">NAUTILUS, INC.</FONT><BR>
<FONT size=2 face="serif">(Registrant) </FONT><BR>
</TD></TR></TABLE>
</P>
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<FONT size=2 face="serif">January 31, 2007</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD width=21% nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=41% nowrap align=left>
<FONT size=2 face="serif">/s/ William D. Meadowcroft</FONT>&nbsp;
	</TD>
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 &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">(Date)</FONT>&nbsp;
	</TD>
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	<TD width=21% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=41% nowrap align=left>
<FONT size=2 face="serif">William D. Meadowcroft,</FONT>&nbsp;
	</TD>
</TR>
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	<TD width=33% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=21% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=41% nowrap align=left>
<FONT size=2 face="serif">Chief Financial Officer, Secretary and Treasurer</FONT>&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=5>
&nbsp;
	</TD>
</TR>
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	<TD width=33% nowrap align=left>
<B><FONT size=2 face="serif">EXHIBIT INDEX</FONT></B>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=21% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=41% nowrap align=left>
&nbsp;
	</TD>
</TR>
</TABLE><BR>
<TABLE border=0 cellspacing=1 cellpadding=0>
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	<TD width=12% nowrap align=left>
<B><FONT size=1 face="serif">Exhibit No.</FONT></B>&nbsp;
	</TD>
	<TD width=2%>
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<B><FONT size=1 face="serif">Description</FONT></B>&nbsp;
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<FONT size=2 face="serif">3.1</FONT>&nbsp;
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<FONT size=2 face="serif">Amendment to Amended and Restated Bylaws of the Company, dated January 29, 2007.</FONT>&nbsp;
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<B><FONT size=2 face="serif">Exhibit 3.1</FONT></B><BR>
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<B><FONT size=2 face="serif">Amendment to</FONT></B><BR>
<BR>
<B><FONT size=2 face="serif">Nautilus, Inc.</FONT></B><BR>
<BR>
<B><FONT size=2 face="serif">Amended and Restated Bylaws</FONT></B><BR>
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<FONT size=2 face="serif">1.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="serif">Section 5.2 of the Company&#146;s Amended and Restated Bylaws is hereby amended by adding the following sentence as the first sentence to said section:</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
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<I><FONT size=2 face="serif">Shares of the corporation may be, but are not required to be, represented by certificates.</FONT></I></P>
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<FONT size=2 face="serif">2.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
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<FONT size=2 face="serif">The Company&#146;s Amended and Restated Bylaws are hereby further amended by adding the following new Section 5.3 and by renumbering the succeeding sections to conform therewith:</FONT>	</TD>
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<I><FONT size=2 face="serif">5.3</FONT></I>&nbsp; &nbsp; &nbsp; 	</TD>
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<I><FONT size=2 face="serif">Uncertificated Shares. Shares of the corporation may be issued by the corporation in uncertificated form pursuant to the customary arrangements for issuing shares in such form.</FONT></I>	</TD>
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<I><FONT size=2 face="serif">Shares in uncertificated form shall be transferable only on the record of shareholders of the corporation by the holder thereof in person or by attorney upon compliance with the customary procedures for transferring such
shares. Within a reasonable time after the issue or transfer of shares without certificates, the corporation shall send the shareholder a record containing the information required on certificates by the Washington Business Corporation
Act.</FONT></I>	</TD>
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DC403.pdf -- Converted by SEC Publisher 4.2, created by BCL Technologies Inc., for SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: January 31, 2007
(Date of earliest event reported)
NAUTILUS, INC.
(Exact name of registrant as specified in its charter)
Washington
001-31321
94-3002667
(State or other jurisdiction of
(Commission
(I.R.S. Employer
incorporation)
File Number)
Identification No.)
16400 SE Nautilus Drive
Vancouver, Washington 98683
(Address of principal executive offices and zip code)
(360) 859-2900
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
NAUTILUS, INC.
FORM 8-K
Item 1.01. Entry into a Material Definitive Agreement
On January 29, 2007, Nautilus, Inc. amended its $25 million revolving credit agreement with Bank of America dated October 30, 2006. The amended agreement extends the expiration date from
January 31, 2007 to February 15, 2007.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
In a meeting held on January 28, 2007, the Compensation Committee of the Board of Directors of Nautilus, Inc. (the "Company") adjusted the annual base salary of and approved equity
compensation for the Company's "named executive officers," as defined in Item 402 of Regulation S-K.
Stock
Performance
Bonus
Name
Title
Annual Salary
Options (1)
Units (2)
Percent (3)
Greggory Hammann
Chairman, Chief Executive Officer and
President
600,000
50,000
15,000
100%
Timothy Hawkins
President, Fitness Equipment Business
296,010
18,000
4,200
50%
William
Chief Financial Officer, Secretary and
Meadowcroft
Treasurer
286,000
18,000
4,200
50%
Darryl Thomas
President, International Equipment Business
235,870
12,000
3,000
40%
Stephen Eichen
Chief Information Officer
229,194
12,000
1,800
40%
(1)
The stock options were issued pursuant to the Company's 2005 Long Term Incentive Plan. The options vest in four equal annual installments beginning on January 28, 2008. The options expire on January 28,
2014.
(2)
The performance unit awards were issued pursuant to the Company's 2005 Long Term Incentive Plan. The awards vest annually over three years, and entitle the executive to receive shares of the Company's common stock
if the Company achieves certain targeted annual earnings per share.
(3)
The Company's officers are eligible to receive incentive compensation based on achievement of the Company's earnings target and achievement of individual objectives. The Plan provides for a target bonus equal to a
percentage of the officer's annual base salary. This target bonus is dependent on achievement of the Company's earnings target and on achievement of the individual objectives. The percentage of annual base salary that is paid as incentive
compensation increases or decreases in the event the Company and officer achieve greater than, or less than, 100% of the earnings target and individual goals.
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
On January 29, 2007, the Board of Directors of Nautilus, Inc. (the "Company") adopted an amendment to the Company's Amended and Restated Bylaws to clarify that shares of the Company's capital
stock may be issued in uncertificated form (i.e. to allow direct registration to record stock ownership without issuing paper stock certificates). The text of the amendment is attached hereto as Exhibit 3.1.
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
Exhibit No.
Description
3.1
Amendment to Amended and Restated Bylaws of the Company, dated January 29, 2007.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NAUTILUS, INC.
(Registrant)
January 31, 2007
By:
/s/ William D. Meadowcroft
(Date)
William D. Meadowcroft,
Chief Financial Officer, Secretary and Treasurer
EXHIBIT INDEX
Exhibit No.
Description
3.1
Amendment to Amended and Restated Bylaws of the Company, dated January 29, 2007.
Exhibit 3.1
Amendment to
Nautilus, Inc.
Amended and Restated Bylaws
1.
Section 5.2 of the Company's Amended and Restated Bylaws is hereby amended by adding the following sentence as the first sentence to said section:
Shares of the corporation may be, but are not required to be, represented by certificates.
2.
The Company's Amended and Restated Bylaws are hereby further amended by adding the following new Section 5.3 and by renumbering the succeeding sections to conform therewith:
5.3
Uncertificated Shares. Shares of the corporation may be issued by the corporation in uncertificated form pursuant to the customary arrangements for issuing shares in such form.
Shares in uncertificated form shall be transferable only on the record of shareholders of the corporation by the holder thereof in person or by attorney upon compliance with the customary procedures for transferring such
shares. Within a reasonable time after the issue or transfer of shares without certificates, the corporation shall send the shareholder a record containing the information required on certificates by the Washington Business Corporation
Act.