Exhibit 4(i)

 

The Commonwealth of Massachusetts

KEVIN H. WHITE

Secretary of the Commonwealth

STATE HOUSE, BOSTON, MASS.

 

RESTATED ARTICLES OF ORGANIZATION

General Laws, Chapter 156B. Section 74

 

      This  certificate  must be submitted to the Secretary of the  Commonwealth

within  sixty  days  after  the date of the vote of  stockholders  adopting  the

restated  articles  of  organization.  The fee for filing  this  certificate  is

prescribed by General Laws. Chapter 156B. Section 114. Make check payable to the

Commonwealth of Massachusetts.

 

We, SUMNER M. GERSTEIN              , President and

CHARLES D. POST                               , Clerk of

THE GREEN SHOE MANUFACTURING  COMPANY

(Name of Corporation)

located at 960 Harrison Avenue, Boston, Massachusetts do hereby certify that the

following  restatement of the articles of  organization  of the  corporation was

duly adopted at a meeting held on February 28, 1967, by vote of 1,113,546 shares

of Common Stock out of 1,387,672 shares outstanding.

                   (Class of Stock)

 ............. shares of ........... out of ........... shares outstanding, and

                      (Class of Stock)

 ............. shares of ........... out of ........... shares outstanding.

                      (Class of Stock)

 

whereby at least  two-thirds of each class of stock  outstanding and entitles to

vote and of each class or series of stock of such adversely affected thereby.

 

1. The name by which the corporation shall be known is:

 

THE GREEN SHOE MANUFACTURING COMPANY

 

2. The purposes for which the corporation is formed are as follows:

 

To carry on a general  manufacturing,  processing,  research and  wholesale  and

retail merchandising business, and in general to carry on any business permitted

by the laws of the  Commonwealth  of  Massachusetts  to a corporation  organized

under Chapter 156B of the Massachusetts General Laws.

 

 

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3. The total number of shares and the per value,  if any, of each class of stock

which the corporation is authorized to issue is as follows:

                    WITHOUT PAR VALUE               WITH PAR VALUE

 

CLASS OF STOCK     NUMBER OF SHARES        NUMBER OF SHARES         PAR VALUE

 

Preferred               None               1,000,000                   $1

 

Common                  None               2,000,000                   $3

 

 

4. If more then one class is authorized,  a description of each of the different

classes of stock with, if any, the preferences,  voting powers,  qualifications,

special or relative rights or privileges as to each class thereof and any series

now established:

 

See continuation sheets 4.A through 4.E

 

 

 

5. The restrictions, if any,  imposed by the articles of organization upon the

transfer of shares of stock of any class are as follows:

 

None

 

6. Other  lawful  provision,  if any,  for the  conduct  and  regulation  of the

business and affairs of the corporation,  for an voluntary  dissolution,  or for

limiting,  defining,  or regulating the powers of the directors or stockholders,

or of any class of stockholders:

 

See continuation sheets 6.A and 6.B

 

If there are no such provisions, state ANone@.

 

 

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                                      4.A

 

      A. Common Stock

 

      There are two classes of stock,  Common Stock having a par value of $3 per

share, and Preferred Stock having no par value. The outstanding shares of Common

Stock  are fully  paid and  non-assessable.  Upon  liquidation,  dissolution  or

winding up of the  affairs  of the  Corporation  the  assets of the  Corporation

remaining  after  provision  for the  rights of  holders  of  securities  having

preference to the Common Stock and for payment of creditors shall be distributed

pro rata solely among holders of the Common Stock.  Except as otherwise provided

in these Articles,  each outstanding  share of Common Stock shall be entitled to

one vote at all meetings of  stockholders.  Dividends  may be declared  upon and

paid to the holders of the Common Stock by the Board of  Directors  out of funds

legally  available  therefor.  The holders of Common  Stock have no  pre-emptive

rights.

 

      B. Preferred Stock

 

      I. The Preferred Stock may from time to time be divided into and issued in

one or more series.  The different  series shall be established  and designated,

and the  variations  in the  relative  rights and  preferences  as  between  the

different  series  shall be fixed and  determined,  by the Board of Directors as

provided in Section II hereof.  In all other  respects  all shares of  Preferred

Stock shall be identical.

 

      The  Preferred  Stock may be issued from time to time by  authority of the

Board of Directors for such  consideration  as from time to time may be fixed by

vote of the Board of Directors providing for the issues of such stock.

 

      II. The Board of Directors is hereby expressly authorized,  subject to the

provisions of these Articles, to establish one or more series of Preferred Stock

and, with respect to each series, to fix and determine by vote providing for the

issue of such series:

 

      (a) the number of shares to constitute such series and the distinctive

designation  thereof;

 

      (b) the dividend rate on the shares of such series and the dividend

payment dates;

 

      (c) whether or not the shares of such series shall be redeemable, and, if

redeemable, the redemption prices

 

 

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                                     4.B

 

which the shares of such series shall be entitled to receive and the terms and

manner of redemption;

 

      (d) the  preferences,  if any,  and the  amounts  which the shares of such

series shall be entitled to receive and all other special or relative  rights of

the shares of such series, upon the voluntary and involuntary dissolution of, or

upon any distribution of the assets of, this Corporation;

 

     (e)  whether  or not the  shares of such  series  shall be  subject  to the

operation of retirement  or sinking  funds to be applied for  redemption of such

shares and, if such  retirement  or sinking  fund or funds be  established,  the

annual  amount  thereof and the terms and  provisions  relative to the operation

thereof;

 

     (f) whether or not the shares of such series shall be convertible  into, or

exchangeable for, shares of any other class or classes or of any other series of

the same or any other  class or  classes  of stock of this  Corporation  and the

conversion price or prices or ratio or ratios or the rate or rates at which such

exchange may be made, with such adjustments,  if any, as shall be stated in such

vote;

 

     (g) whether or not the shares of such series shall have voting rights, and,

if so, the  conditions  under  which the shares of such  series  shall vote as a

separate class; and

 

     (h) such  other  designations,  preferences  and  relative,  participating,

optional or other special rights and qualifications, limitations or restrictions

of such series to the full extent now or hereafter  permitted by the laws of the

Commonwealth of Massachusetts.

 

Notwithstanding  the fixing of the number of shares  constituting  a  particular

series, the Board of Directors may at any time thereafter authorize the issuance

of additional shares of the same series.

 

      III. Holders of Preferred Stock shall be entitled to receive,  when and as

declared by the Board of Directors but only out of funds  legally  available for

the payment of dividends, cumulative cash dividends at the annual rates fixed by

the Board of Directors for the  respective  series and no more,  payable on such

dates in each year as the Board of Directors shall fix for the respective series

as provided in

 

 

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                                          4.C

 

subsection  II(b)  (hereinafter  referred to as  Adividend@  dates@).  Until all

accrued  dividends on all series of Preferred Stock shall have been declared and

set apart for payment through the last preceding  dividend date set for all such

series,  no cash payment or  distribution  shall be made to holders of any other

class of stock of this  Corporation.  Dividends on shares of Preferred  Stock of

any series  shall  accumulate  from and after the day on which  such  shares are

issued,  but  arrearages  in the payment  thereof  shall not bear  interest.  No

dividend  shall be declared and set apart for payment an any series of Preferred

Stock in respect of any dividend  period unless there shall likewise be declared

and set apart for payment on all shares of Preferred Stock of each series at the

time  outstanding  dividends as would be payable on the said shares  through the

last  preceding  dividend date if all dividends  were declared and paid in full.

Nothing  herein  contained  shall be deemed to limit the right of the Company to

purchase  or  otherwise  acquire  at any time any shares of its  capital  stock;

provided  that no shares of capital  stock shall be purchased or redeemed at any

time when accrued  dividends on any series of Preferred  Stock remain unpaid for

any period to and including the last preceding dividend date.

 

      For  purposes of these  Articles,  and of any vote fixing the terms of any

series of Preferred  Stock,  the amount of  dividends  Aaccrued@ on any share of

Preferred  Stock of any series as at any dividend date shall be deemed to be the

amount  of any  unpaid  dividends  accumulated  thereon  to and  including  such

dividend  date,  whether or not earned or declared,  and the amount of dividends

Aaccrued@  on any share of  Preferred  Stock of any  series as at any date other

than a dividend date shall be  calculated as the amount of any unpaid  dividends

accumulated  thereon to and including the last preceding  dividend date, whether

or not earned or declared, plus an amount computed, on the basis of 360 days per

annum,  for the period after such last preceding  dividend date to and including

the date as of which the  calculation is made at the annual  dividend rate fixed

for the shares of such series.

 

      IV. Upon the  dissolution  of, or upon any  distribution of the assets of,

this  Corporation,  before  any  payment or  distribution  of the assets of this

Corporation  (whether  capital or surplus) shall be made to or set apart for any

other  class of stock,  the  holders of  Preferred  Stock  shall be  entitled to

payment of the amount of the  preference  payable upon such  dissolution  of, or

distribution of the assets of, this Corporation  fixed by the Board of Directors

for the respective series as provided in subsection II(d), and shall be entitled

 

 

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                                          4.D

 

to no further payment. If upon any such dissolution or distribution,  the assets

of this  Corporation  shall be insufficient to pay in full to the holders of the

Preferred Stock the  preferential  amount  aforesaid,  then such assets,  or the

proceeds  thereof,  shall be  distributed  among the  holders of each  series of

Preferred  Stock ratably in  accordance  with the sums which would be payable on

such  distribution  if all sums payable were  discharged in full.  The voluntary

sale, conveyance, exchange or transfer (for cash, shares of stock, securities or

other  consideration)  of all or substantially all of the property and assets of

this  Corporation,  the merger or consolidation of this Corporation into or with

any other corporation, or the merger of any other corporation into it, shall not

be deemed to be a  dissolution  of, or a  distribution  of the assets  of,  this

Corporation, for the purpose of this Section IV.

 

     V. In the event that and during the period in which the Preferred  Stock of

any series shall be  redeemable,  then, at the option of the Board of Directors,

this Corporation from time to time may redeem all or any part of the outstanding

shares of such series at the redemption  price and upon the terms and conditions

fixed by the Board of  Directors  a  provided  in  subsection  II(c) (the sum so

payable upon any redemption of Preferred  Stock being herein  referred to as the

Aredemption price@);  provided,  that not less than 30 days previous to the date

fixed for  redemption  notice of the time and place  thereof  shall be mailed to

each holder of record of the shares so to be redeemed at his address as shown by

the  records of this  Corporation;  and  provided  further,  that in the case of

redemptions  of  less  than  all of the  outstanding  shares  of any  series  of

Preferred  Stock  the  shares to be  redeemed  shall be chosen by lot or in such

equitable  manner as may be prescribed  by the Board of  Directors.  At any time

after notice of redemption  shall have been mailed as above  provided but before

the redemption date, this Corporation may deposit the aggregate redemption price

in  trust  with a  bank  or  trust  company  in  New  York,  New  York;  Boston,

Massachusetts;  or any other city in which this  Corporation  shall at that time

maintain  a transfer  agency  with  respect  to any class of its  stock,  having

capital, surplus and undivided profits of at least $5,000,000, and named in such

notice. Upon the making of such deposit, or if no such deposit is made then upon

such redemption date (unless this Corporation shall default in making payment of

the  redemption  price),  holders of the shares of  Preferred  Stock  called for

redemption  shall  cease  to  be  stockholders   with  respect  to  such  shares

notwithstanding  that  any  certificate  for such  shares  shall  not have  been

surrendered  and thereafter  such shares shall no longer be  transferable on the

books of this  Corporation  and such holders  shall have no interest in or claim

against this

 

 

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                                     4.E

 

Corporation with respect to said shares,  including but not limited to the right

to vote,  except the right (a) to receive  payment of the redemption  price upon

surrender of their certificates,  or (b) to exercise on or before the date fixed

for  redemption the rights,  if any, not  theretofore  expiring,  to convert the

shares so called for redemption  into, or to exchange such shares for, shares of

stock of any other class or classes or of any other  series of the same class or

any other class or classes of stock of this  Corporation.  Any fund deposited in

trust as aforesaid which shall not be required for such  redemption,  because of

the exercise of any right of  conversion  subsequent to the date of such deposit

or otherwise,  shall be returned to this Corporation forthwith. This Corporation

shall be entitled to receive from any such bank or trust  company the  interest,

if any,  allowed on any  moneys  deposited  pursuant  to this  Section,  and the

holders of any shares so redeemed shall have no claim to any such interest.  Any

funds so deposited by this  Corporation  and  unclaimed at the end of five years

from the date fixed for such redemption shall be repaid to this Corporation upon

its request, after which repayment the holders of such shares who shall not have

made claim  against  such moneys prior to such  repayment  shall be deemed to be

unsecured creditors of this Corporation, but only for a period of two years from

the date of such repayment (after which all rights of the holders of such shares

as unsecured  creditors or otherwise shall cease),  for an amount  equivalent to

the amount  deposited as above stated for the  redemption  of such shares and so

repaid to this Corporation, but shall in no event be entitled to any interest.

 

      In order to facilitate  the  redemption of any shares of Preferred  Stock,

the  Board of  Directors  is  authorized  to cause  the  transfer  books of this

Corporation to be closed as to the shares to be redeemed.

 

     VI.  Any  shares  of  Preferred  Stock  which  shall at any time  have been

redeemed,  or which shall at any time have been  surrendered  for  conversion or

exchange  or  for  cancellation  pursuant  to any  retirement  or  sinking  fund

provisions with respect to any series of Preferred Stock.,  shall be retired and

shall  thereafter have the status of authorized and unissued shares of Preferred

Stock undesignated as to series.

 

 

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                                     6.A

 

Article 6A.  Inter-Company Dealings

 

     In the absence of bad faith, no contract or transaction by this Corporation

shall be void,  voidable  or in any way  affected by reason of the fact that the

contract  or  transaction  is (a) with one or more of its  officers,  directors,

stockholders  or  employees,  (b) with a person who is in any way  interested in

this  Corporation  or (c) with a corporation,  organization  or other concern in

which an officer,  director,  stockholder or employee of this  Corporation is an

officer,  director  stockholder,  employee or in any way interested;  and in the

absence of bad faith or gross negligence, no officer,  director,  stockholder or

employee  of  this  Corporation  shall  be  liable  to  this  Corporation,  to a

stockholder or creditor  thereof or to any other person for any loss incurred by

reason  of such  contract  or  transaction  or be  accountable  for any gains or

profits realized as a result of such contract or transaction; and the provisions

of this paragraph  shall apply  notwithstanding  the fact that the presence of a

director or  stockholder  with whom a contract or transaction is made or entered

into or who is an officer,  director,  stockholder or employee or a corporation,

organization  or other concern with which a contract or  transaction  is made or

entered into or who is in any way  interested in such  contract or  transaction,

was necessary to constitute a quorum at the meeting of directors or stockholders

at which such  contract or  transaction  was  authorized  and/or  whose vote was

necessary for the adoption of such contract or transaction.

 

Article 6B.  Indemnification

 

     1.  Except  as  provided  in  Paragraphs  2 and 3,  each  Officer  of  this

Corporation (and his heirs or personal  representatives) shall be indemnified by

this  Corporation  against all Expenses  incurred by him in connection  with any

Proceeding  in which he is involved as a result of his serving or having  served

as an Officer of this Corporation or, at the request of this Corporation,  as an

Officer of any other  organization in which this  Corporation  owns shares or of

which it is a creditor.

 

     2. No  indemnification  shall be provided to an Officer  with  respect to a

matter as to which it shall have been  adjucated in any  Proceeding  that he did

not act in good faith in the  reasonable  belief that his action was in the best

interests of this Corporation.

 

 

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                                     6.B

 

     3. In the event that a Proceeding is compromised or settled so as to impose

any  liability  or  obligation   upon  an  Officer  or  this   Corporation,   no

indemnification  shall be provided to said  Officer  with respect to a matter if

this  Corporation  has  obtained an opinion of counsel that with respect to said

matter said Officer did not act in good faith in the reasonable  belief that his

action was in the best interests of this Corporation.

 

     4. For the purposes of this Article,

 

             (a)  AOfficer@  means any  person  who  serves  or has  served as a

director  or in any  other  office  filled by  election  or  appointment  by the

Stockholders or the Board of Directors or, in the case of an organization  other

than a corporation, by an equivalent body;

             (b)  AProceeding@  means any action,  suit or proceeding,  civil or

criminal, brought or threatened in or before any court, tribunal, administrative

or legislative body or agency; and

 

             (c)  AExpenses@  means any  liability  fixed by a judgment,  order,

decree, or award in a Proceeding,  any amount reasonably paid in settlement of a

Proceeding and any professional fees and other disbursements reasonably incurred

in a Proceeding.

 

     5. Nothing in this Article shall limit any lawful rights to

indemnification existing independently of this Article.

 

Article 6C.  Stockholders= Meetings

 

           Meetings of Stockholders of the Corporation may be held anywhere in

the United States.

Article 6D.  By-Law Amendment

           The By-Laws of this  Corporation  may provide that the  directors (as

well as the  stockholders)  may make, amend or repeal the By-Laws in whole or in

part to the extent  permitted by law,  subject to the  limitations  contained in

such By-Laws.

 

 

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Article 2, by substituting new purposes for the  Corporation;  Articles 3 and 4,

by creating a new class of Preferred  Stock of the Corporation and by describing

the Common Stock; and Article 6, by substituting new Indemnification  provisions

and by adding  provisions  with  respect to  Stockholders=  Meetings  and By-Law

Amendment.

 

IN WITNESS WHEREOF AND UNDER THE PENALTIES OF PERJURY, we have hereto signed

our names this

28th  day of February    in the year 1967.

/s/ .............President

/s/..............Clerk

 

 

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RECEIVED

FEB 28 1967

CORPORATION DIVISION

SECRETARY=S OFFICE

 

THE COMMONWEALTH OF MASSACHUSETTS

RESTATED ARTICLES OF ORGANIZATION

(General Laws, Chapter 156B. Section 74)

     I hereby approve the within stated articles of organization and, the

filing fee in the amount of $625.00 having been paid, said  articles are deemed

to have been filed with me this twenty-eighth day of February, 1967.

/s/Kevin H. White

KEVIN H. WHITE

Secretary of the Commonwealth

State House     Boston, Mass.

 

TO BE FILLED IN BY CORPORATION

PHOTO COPY OF RESTATED ARTICLES OF ORGANIZATION TO BE SENT

TO Russell G. Simpson, Esquire

 Goodwin, Procter & Hoar

84 State Street

Boston, Massachusetts

 

A TRUE COPY ATTEST

/S/ Michael Joseph Connolly

MICHAEL JOSEPH CONNOLLY

SECRETARY OF STATE

DATE 5-24-83   CLERK   BS

 

 

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The Commonwealth of Massachusetts

John F. X. Davoren

Secretary of the Commonwealth

State House    Boston, Mass.

 

ARTICLES OF

MERGER OF PARENT AND SUBSIDIARY  CORPORATIONS  Pursuant to General Laws, Chapter

156B, Section 82

 

This certificate  must be submitted to the Secretary of the Commonwealth  within

sixty days after the  meeting of the board of  directors  at which the merger is

voted.  The fee for filing  this  certificate  is  prescribed  by General  Laws,

Chapter  156B,   Section  114.  Make  check  payable  to  the   Commonwealth  of

Massachusetts.

 

We,  Arnold Hiatt and Russell G. Simpson  President  and Clerk of The Green Shoe

Manufacturing   Company  Name  of  Corporation   organized  under  the  laws  of

Massachusetts  and herein called the parent  corporation,  do hereby  certify as

follows:

 

1. That the subsidiary corporation(s) to be merged into the parent corporations

are/is as follows:

Name                        State of                          Date of

                            Organization                      Organization

 

GSR Shoe Corporation        Massachusetts                      3/13/69

 

2. That the parent  corporation owns at least ninety per cent of the outstanding

shares of each class of the stock of each  subsidiary  corporation  to be merged

into the parent corporation.

 

Delete the inapplicable words. In case the parent corporation is organized under

the laws of a state other than Massachusetts  these articles are to be signed by

officers having corresponding powers and duties.

 

 

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4. That at a meeting of the directors of the parent  corporation  held on August

13 1970,  the  following  vote  pursuant to (a) of General  Laws,  Chapter 156B,

Section 82, was duly adopted:

 

VOTED: That GSR Shoe Corporation,  which is a Massachusetts  corporation engaged

in a business similar or incidental to the business in which this Corporation is

authorized to engage and of which this Corporation owns all of the capital stock

issued and outstanding, be merged with and into this Corporation pursuant to the

provisions  of Section 82 of Chapter  156B of the Business  Corporation  Law, as

amended;  and that said merger be and become  effective upon the filing with the

Secretary  of the  Commonwealth  of  Massachusetts  of the  appropriate  form of

Articles of Merger required by law; and further

 

VOTED:  That the proper officers and directors of this  Corporation be, and they

hereby are, authorized and directed to execute,  acknowledge and deliver any and

all documents,  certificates  or other  instruments and to do any and all things

necessary  or  appropriate  in their  discretion  to carry  out the  intent  and

purposes of the foregoing vote.

 

NOTE: Votes for which the space provided above is not sufficient should be sent

out on continuation sheets to be numbered 2A. 2B. etc. Continuation sheets must

have a left-hand margin 1 inch wide for binding. Only one side should be used.

 

 

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5. The effective date of the merger as specified in the vote set out under

Paragraph 4 is

      upon filing with the Secretary of the Commonwealth of Massachusetts.

 

IN WITNESS  WHEREOF and the penalties of perjury we have hereto signed our names

this 13th day of August.

 

/s/Arnold Hiatt      President

 

/s/Russell G. Simpson   Clerk

 

Delete the inapplicable words. In case the parent corporation is organized under

the laws of a state other than Massachusetts  these articles are to be signed by

officers having corresponding powers and duties.

 

 

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RECEIVED

AUG 1 1970

CORPORATION DIVISION

SECRETARY=S OFFICE

 

COMMONWEALTH OF MASSACHUSETTS

ARTICLES OF MERGER OF PARENT AND SUBSIDIARY CORPORATIONS

(General Laws, Chapter 156B, Section 82)

      I hereby approve the within articles of merger of parent and subsidiary

corporations and, the filing fee in the amount of $25.00 having been paid, said

articles are deemed to have been filed with me this 19th day of August, 1970.

/s/John F. X. Davoren

Secretary of the Commonwealth

State House, Boston, Mass.

 

Mr. Averill Laundon

Goodwin, Procter & Hoar

28 State St.

Boston 02109

 

copy mailed: 8-21-70

 

A TRUE COPY ATTEST

/s/Michael Joseph Connolly

MICHAEL JOSEPH CONNOLLY

SECRETARY OF STATE

DATE 3-24-83     CLERK BS

 

 

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The Commonwealth of Massachusetts

JOHN F. X. DAVOREN

Secretary of the Commonwealth STATE HOUSE, BOSTON, MASS.

 

ARTICLES OF AMENDMENT

General Laws, Chapter 156B. Section 72

 

This certificate  must be submitted to the Secretary of the Commonwealth  within

sixty days after the date of the vote of  stockholders  adopting the  amendment.

The fee for filing this certificate is prescribed by General Laws, Chapter 156B,

Section 114. Make check payable to the Commonwealth of Massachusetts.

 

We, Arnold Hiatt          ,  President and

Russell G. Simpson    , Clerk of

 

THE GREEN SHOE MANUFACTURING COMPANY

         (Name of Corporation)

 

located at 960 Harrison Avenue, Boston, Massachusetts

do hereby certify that the following  amendment to the articles of  organization

of the corporation was duly adopted at a meeting held on March 22, 1972, by vote

of 1,100,367 shares of Common Stock out of 1,413,757 shares outstanding, and

                    (Class of Stock)

19,580 shares of Convertible Preferred Stock out of 22,820 shares outstanding.

                       (Class of Stock)

being at least a majority of each class outstanding and entitled to vote

thereon.

 

CROSS OUT

INAPPLICABLE

CLAUSE

 

VOTED: To amend the Restated  Articles of Organization of this  Corporation,  as

heretofore  amended,  by changing this  Corporation=s  name from AThe Green Shoe

Manufacturing Company@ to AThe Stride Rite Corporation@ said amendment to become

effective as of the close of business on Friday, March 24, 1972.

 

 

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The foregoing  amendment will become  effective when these articles of amendment

are filed in accordance with Chapter 156B,  Section 6 of the General Laws unless

these articles  specify,  in accordance with the vote adopting the amendment,  a

later effective date not more than thirty days after such filing, in which event

the amendment will become effective on such later date.

 

IN WITNESS WHEREOF AND UNDER THE PENALTIES OF PERJURY, we have hereto signed

our names this

22nd day of March, in the year 1972.

 

/s/Arnold Hiatt     President

/s/Russell G. Simpson    Clerk

 

 

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RECEIVED

Mar 22 1972

CORPORATION DIVISION

SECRETARY=S OFFICE

 

THE COMMONWEALTH OF MASSACHUSETTS

ARTICLES OF AMENDMENT

(General Laws, Chapter 156B, Section 72)

 

I hereby  approve the within  articles of  amendment  and, the filing fee in the

amount of $25.00  having been paid,  said articles are deemed to have been filed

with me this 22nd day of March 1972. Effective Date March 24, 1972

 

/s/John F. X. Davoren

 

JOHN F. X. DAVOREN

Secretary of the Commonwealth

State House, Boston, Mass.

 

TO BE FILLED IN BY CORPORATION

PHOTO COPY OF AMENDMENT TO BE SENT

Averill Laundon, Esq.

Goodwin, Procter & Hoar

28 State Street

Boston, Massachusetts 02109

 

A TRUE COPY  ATTEST

/s/Michael Joseph Connolly

MICHAEL JOSEPH CONNOLLY

SECRETARY OF STATE

DATE  3/29/3     CLERK   BS

Copy Mailed           Picked up

3-22-72

 

 

<PAGE>

 

 

 

 

 

 

 

 

                        The Commonwealth of Massachusetts

 

                          Secretary of the Commonwealth

                            State House Boston, Mass.

 

                                   ARTICLES OF

 

                 MERGER OF PARENT AND SUBSIDIARY CORPORATIONS

              PURSUANT TO GENERAL LAWS, CHAPTER 156B, SECTION 82

 

This certificate  must be submitted to the Secretary of the Commonwealth  within

sixty days after the  meeting of the board of  directors  at which the merger is

voted.  The fee for filing  this  certificate  is  prescribed  by General  Laws,

Chapter  156B,   Section  114.  Make  check  payable  to  the   Commonwealth  of

Massachusetts.

      .

 

We, Arnold Hiatt and Russell G. Simpson, President and Clerk of  The Stride

Rite Corporation

              name of corporation

 

organized under the laws of the Commonwealth of Massachusetts  and herein called

the parent corporation, do hereby certify as follows:

 

1.    That the subsidiary corporation (xx) to he merged into the parent

corporations XXX is as follows:

                              State of                      Date of

        Name                  Organization                  Organization

 

The Orange Shoe Corporation   Massachusetts                 April 8, 1969

 

 

 

 

 

 

2. That the parent  corporation owns at least ninety per cent of the outstanding

shares of each class of the stock of each  subsidiary  corporation  to be merged

into the parent corporation.

 

 

*Delete the  inapplicable  words.  In case the parent  corporation  is organized

under the laws of a state  other than  Massachusetts  these  articles  are to be

signed by officers having corresponding powers and duties.

 

 

<PAGE>

 

 

 

 

 

 

 

 

4.    That at a meeting of the directors of the parent corporation held on

August 9, 1973 the following votes pursuant to subsection (a) of General Laws,

Chapter 156B, Section 82, are

duly adopted:

 

 

VOTED: That effective August 31, 1973, after the close of business on that date,

this  Corporation  merge,  and hereby  does merge into  itself its  wholly-owned

subsidiary,  The Orange Shoe  Corporation,  &  Massachusetts  corporation,  this

Corporation thereby acquiring; all the property and assuming all the liabilities

of said The Orange Shoe Corporation.

 

VOTED: That this Corporation  submit Articles of Merger of Parent and Subsidiary

Corporations to The Secretary of the Commonwealth of  Massachusetts  pursuant to

Section 82 of the Business  Corporation Law of Massachusetts,  setting forth the

votes of the  Directors  of this  Corporation  to merge  said  The  Orange  Shoe

Corporation  into  itself,  the  effective  date of said  merger  and any  other

necessary or desirable  matters,  and that the  President  and the Clerk of this

Corporation be, and each of them hereby is,  authorized for and in behalf of its

name to execute,  seal with the corporate  seal,  and submit to the Secretary of

the  Common-wealth  of  Massachusetts  said  Articles  of Merger  of Parent  and

Subsidiary  Corporations which, upon the effective date of said merger, shall be

deemed to be an amendment to the Articles of Organization of this Corporation.

 

VOTED:  That the President,  any Vice President,  the Clerk and the Treasurer be

and each of them hereby is authorized for and in the name of this Corporation to

execute, seal with the corporate seal, deliver and file any and all confirmatory

or further  documents and  instruments  in connection  with or rising out of the

transactions authorized by the foregoing votes.

 

 

  NOTE: Votes for which the space provided above is not sufficient should be set

out on continuation sheets to be numbered 2A, 2B, etc.  Continuation sheets must

have a left-hand margin 1 inch wide for binding. Only one side should be used.

 

 

<PAGE>

 

 

 

 

 

 

 

 

The  effective  date of the  merger  as  specified  in the  vote  set out  under

Paragraph 4 is August 31, 1973

 

IN WITNESS  WHEREOF and the penalties of perjury we have hereto signed our names

this _________ day of AUGUST 1973

 

   /s/ Arnold Hiatt ,President

   /s/ Russell G. Simpson ,Clerk

 

The  inapplicable  words. In case the parent  corporation is organized under the

laws of a state  other than  Massachusetts  these  articles  are to be signed by

officers having corresponding powers and duties.

 

 

<PAGE>

 

 

 

 

 

 

 

 

 

                          COMMONWEALTH OF MASSACHUSETTS

 

           ARTICLES OF MERGER OF PARENT AND SUBSIDIARY CORPORATIONS

 

                     (General Law, Chapter 156B, Section 82)

 

 

I hereby  approve  the  within  articles  of  merger of  parent  and  subsidiary

corporations  and,  the  filing fee in the  amount of $ having  been paid,  said

article are deemed to have been

    filed with me this 13th  day of August, 1973

 

 

Secretary of the Commonwealth

/s/ John Davorin

 State House, Boston, Mass.

 

Ronald G. Simpson, Esq.

Goodwin, Proctor & Hoar

          28 State Street

          Boston, Massachusetts 02109     523-5700

 

 

 

 

 

 

 

 

TRUE COPY ATTEST

 

 

/s/ Michael Joseph Connelly

Michael Joseph CONNOLLY

SECRETARY OF STATE

 

CLERK

 

 

<PAGE>

 

 

 

 

 

 

 

 

                        The Commonwealth of Massachusetts

      PAUL GUZZI

 

                          Secretary of the Commonwealth

ONE ASHBURTON PLACE, BOSTON, MASS. 02108

 

FEDERAL IDENTIFICATION  NO. 04-1399290

 

                              ARTICLES OF AMENDMENT

 

                      General Laws Chapter 156B, Section 72

 

This Certificate  must be submitted to the secretary of the Commonwealth  within

sixty days after the date of the vote of stockholders adopting the amendment The

fee for filing this  certificate  is prescribed  by general Laws.  Chapter 156B,

Section 114. Make check payable to the Commonwealth of Massachusetts.

 

      Arnold Hiatt      ,President/ and

      Russell G. Simpson      ,Clerk

 

 

                           THE STRIDE RITE CORPORATION

                              (Name of Corporation)

 

 

 

Located at      960 Harrison Avenue, Boston, Massachusetts

 

do hereby certify that the following amendment to the articles of organization

of the corporation was duly adopted at a meeting held on  April 12, 19 78  .

by vote of

    2,209,325 shares of Common out of 3,045,004 shares outstanding.

                                (Class of Stock)

 

being at least two thirds of each class outstanding and entitled to vote thereon

and of each  class or  series  of stock  whose  rights  are  adversely  affected

thereby.

 

 

<PAGE>

 

 

 

 

 

 

 

 

Text of Amendment

 

Article 6E.  Voting Requirement for Mergers and Consolidations.

 

The vote of two-thirds of each class of stock of the Corporation outstanding and

entitled to vote on any proposed  agreement of merger or consolidation  shall be

necessary  for the  approval  of  such  agreement.  except  for  any  merger  or

consolidation for which no stockholder vote is required by statute.  If any such

agreement  would  adversely  affect  the  rights  of any  class  of stock of the

Corporation, the vote of two-thirds of such class, voting separately, shall also

be necessary for the approval of such agreement.

 

The foregoing  amendment will become  effective when these articles of amendment

are filed in accordance with Chapter 156B,  Section 6 of the General Laws unless

these articles  specify,  in accordance with the vote adopting the amendment,  a

later effective date not more than thirty days after such filing, in which event

the amendment will become effective on such later date.

 

IN WITNESS WHEREOF AND UNDER THE PENALTIES OF PERJURY, we have hereto signed

our names this

      24th  day of  April     , In the year 1978.

 

 

 

 

 

                                             /s/ Arnold Hiatt     ,President

                                             /s/ Russell G. Simpson

                                ,Clerk/Assistant

 

 

<PAGE>

 

 

 

 

 

 

 

 

THE COMMONWEALTH OF MASSACHUSETTS

 

 

                              ARTICLES OF AMENDMENT

                   (General Laws, Chapter 156B, Section 72)

 

I hereby  approve the within  articles of  amendment  and, the filing fee in the

amount of $50.00  having been paid,  said articles are deemed to have been filed

with me this 27th day of April, 1978.

      $     /',I

 

/s/ Paul Guzzi

 

 

 

                                   PAUL GUZZI

                          Secretary of the Commonwealth

                            State House Boston, Mass.

 

 

 

 

 

 

 

TO BE FILLED IN BY CORPORATION

PHOTOCOPY OF AMENDMENT TO BE SENT

 

TO:

 

Eric P. Geller

Goodwin, Procter & Hoar

28 State Street Boston, Mass.

Telephone    523-5700

Copy Mailed May 1, 1978

 

 

<PAGE>

 

 

 

 

 

 

 

                        The Commonwealth of Massachusetts

       MICHAEL JOSEPH CONNOLLY

Secretary of State

 

ONE ASHBURTON PLACE, BOSTON, MASS. 02108

 

FEDERAL IDENTIFICATION  NO. 04-1399290

 

ARTICLES OF AMENDMENT

 

General Laws, Chapter 156B, Section 72

 

This certificate must be submitted to the Secretary of the Commonwealth within

sixty days after the date of the vote of stockholders adopting the amendment.

The fee for filing this certificate is prescribed by General Laws, Chapter

156B, Section 114. Mike check payable to the Commonwealth of Massachusetts.

We, Arnold Hiatt,       ,President/and

   Russell G. Simpson,        ,Clerk/

 

The Stride Rite Corporation

(Name of Corporation)

located at        Five Cambridge Center, Cambridge, Massachusetts 02142

 

 

do hereby certify that the following  amendment to the articles of  organization

of the  corporation  was duly adopted at a meeting held on January 31, 1983,  by

vote of

 

2,383,705 shares of Common Stock out of 3,168,865 shares outstanding,

                  (Class of Stock)

 ............shares of ............ out of ............ shares outstanding, and

                    (Class of Stock)

 ............shares of ............ out of ............ shares outstanding,

                    (Class of Stock)

 

being at least a majority of each class outstanding and entitled to vote

thereon:

 

CROSS OUT

INAPPLICABLE

CLAUSE

 

To amend the Restated  Articles of  Organization  of the Company to increase the

number of  authorized  shares of Common  Stock,  $1.00 par value,  by 11,000,000

shares,  to a total of  15,000,000  shares,  with such  additional  shares to be

issuable in the discretion of the Board of Directors of the Company.

 

For  amendments  adopted  pursuant to Chapter 156B,  Section 70. For  amendments

adopted pursuant to Chapter 156B,  Section 71. Note: If the space provided under

any Amendment or item on this form is insufficient, additions shall be set forth

on separate 8 1/2 x 11 sheets of paper  leaving a left hand margin of at least I

inch for binding  Additions  to more than one  Amendment  may be  continued on a

single sheet so long as each  Amendment  requiring each such addition is clearly

indicated.

 

 

<PAGE>

 

 

 

 

 

 

 

 

FOR INCREASE IN CAPITAL FILL IN THE FOLLOWING:

                                             1,000,000

                                             shares preferred

                                             4,000,000         with par value

                                             Shares common

 

The total amount of capital stock already authorized is

                                             shares preferred,

                                                               without par value

                                                                   shares common

 

 

 

                                             shares preferred

                                                               with par value

                                             11,000,000

                                             shares common

 

The amount of additional capital stock authorized is

                                             shares preferred

                                                               without par value

                                                                   shares common

 

 

<PAGE>

 

 

 

 

 

 

 

 

The foregoing  amendment will become  effective when these articles of amendment

are filed in accordance with Chapter 156B,  Section 6 of The General Laws unless

these  articles  specify.  in accordance  with the vote adopting the amendment a

later effective date not more than thirty days after such filing. in which event

the amendment will become effective on such later date.

 

IN WITNESS WHEREOF AND UNDER THE PENALTIES OF PERJURY, we have hereto signed

our names this

      3lst  day of  January         , in the year 19 83

 

/s/ Arnold Hiatt        PRESIDENT

/s/ Russell G. Simpson        CLERK

 

 

<PAGE>

 

 

 

 

 

 

 

 

THE COMMONWEALTH OF MASSACHUSETTS

 

ARTICLES OF AMENDMENT

(General Laws, Chapter 156B, Section 72)

I hereby  approve the within  articles of  amendment  and, the filing fee in the

amount of $ 5,500.00  having been paid said  articles  are deemed to have.  been

filed with me this 31st day of ,1983.

 

 

/s/ MICHAEL JOSEPH CONNOLLY

MICHAEL JOSEPH CONNOLLY

Secretary of State

              TO BE FILLED IN BY CORPORATION

              PHOTO COPY OF AMENDMENT TO BE SENT

TO:           F. Beirne Lovely, Jr., Esquire

               Goodwin, Procter & Hoar

              28 State Street

Boston, Massachusetts 02109

 

Telephone   (617) 523-5700

 

 

<PAGE>

 

 

 

 

 

 

 

The Commonwealth of Massachusetts

OFFICE OF THE MASSACHUSETTS SECRETARY OF STATE

MICHAEL JOSEPH CONNOLLY, Secretary

ONE ASHBURTON PLACE, BOSTON, MASS. 02108

 

FEDERAL IDENTIFICATION NO. 04-1399290

 

ARTICLES OF AMENDMENT

 

General Laws, Chapter 156B, Section 72

 

This certificate  must be submitted to the Secretary of the Commonwealth  within

sixty days after the date of the vote of  stockholders  adopting the  amendment.

The fee for filing this certificate is prescribed by General Laws, Chapter 156B,

Section 114. Make check payable to the Commonwealth of Massachusetts.

 

              We,  Arnold Hiatt     ,President/and

              Marcia C. Morris      ,Clerk/ of

 

 

                           The Stride Rite Corporation

(Name of Corporation)

 

 

        located at  Five Cambridge Center, Cambridge, Massachusetts 02142

 

do hereby certify that the following  amendment to the articles of  organization

of the  corporation was duly adopted at a meeting held on April 7, 1987, by vote

of 5,259,977 shares of Common out of 7,534,067 shares outstanding

               (Class of Stock)

 

 

being at least two-thirds of each class outstanding and entitled to vote thereon

and of each  class or  series  of stock  whose  rights  are  adversely  affected

thereby:

 

For amendment: adapted pursuant to Chapter 156B, Section 70.

For amendments adapted pursuant to Chapter 1565, Section 71.

 

Note:  If the  space  provided  under  any  Amendment  or item  on this  form is

insufficient, additions shall be set forth on separate 81/2 x 11 sheets of paper

leaving a left hand  margin of at least 1 inch for  binding.  Additions  to more

than one Amendment may be continued on a single sheet so long as each  Amendment

requiring each such addition is clearly indicated.

 

 

<PAGE>

 

 

 

 

 

 

 

 

TO CHANGE the number of shares and the par value, if any, of each class of stock

within the corporation fill in the following:

 

The total presently authorized is:

 

                            NO PAR VALUE        WITH PAR VALUE     PAR

KIND OF STOCK    NUMBER OF SHARES    NUMBER OF SHARES   VALUE

 

COMMON

 

PREFERRED

 

CHANGE the total to:

                 NO PAR VALUE        WITH PAR VALUE     PAR

KIND OF STOCK    NUMBER OF SHARES    NUMBER OF SHARES   VALUE

 

COMMON

 

PREFERRED

 

 

<PAGE>

 

 

 

 

 

 

 

 

Text of Amendment:

 

 

Article 6F.  Liability of Directors.

 

A director of this  Corporation  shall not be liable to this  Corporation or its

stockholders  for monetary  damages for breach of fiduciary  duty as a director,

except to the extent such exemption from liability or limitation  thereof is not

permitted under the Massachusetts Business Corporation Law as the same exists or

may hereafter be amended.  Any repeal or  modification of this Article 6F by the

stockholders  of this  Corporation  shall  not  adversely  affect  any  right or

protection of a director of this Corporation existing at the time of such repeal

or modification.

 

 

 

The foregoing  amendment will become  effective when these articles of amendment

are filed in accordance with Chapter 156B,  Section 6 of The General Laws unless

these articles  specify,  in accordance with the vote adopting the amendment,  a

later effective date not more than thirty days after such filing, in which event

the amendment will become effective on such later date.

 

IN WITNESS WHEREOF AND UNDER THE PENALTIES OF PERJURY, we have hereto signed

our names this

seventh     day of      April       , in the year 1987

      /s/ Arnold Hiatt        ,President

      /s/ Marcia C. Morris          ,Clerk

 

 

<PAGE>

 

 

 

 

 

 

 

THE COMMONWEALTH OF MASSACHUSETTS

 

 

ARTICLES OF AMENDMENT

(General Laws, Chapter 156B, Section 72)

 

I hereby  approve the within  articles of  amendment  and, the filing fee in the

amount of $ 75.00 having been paid,  said articles are deemed to have been filed

with me this 8th

 

day of April      , 1987.

 

 

 

 

 

/s/ MICHAEL JOSEPH CONNOLLY

MICHAEL JOSEPH CONNOLLY

Secretary of Stare

 

 

 

 

 

 

 

 

TO BE FILLED IN BY CORPORATION

PHOTO COPY OF AMENDMENT TO BE SENT

 

TO: Marcia C. Morris, Esq.

The Stride Rite Corporation

Five Cambridge Center

Cambridge, Massachusetts 02142

Telephone   (617) 491-8800

    Copy Mailed

 

 

<PAGE>

 

 

 

 

 

 

 

 

                        The Commonwealth of Massachusetts

 

 

OFFICE OF THE MASSACHUSETTS SECRETARY OF STATE

MICHAEL JOSEPH CONNOLLY, Secretary

                   ONE ASHBURTON PLACE, BOSTON, MASS. 02108

 

 FEDERAL IDENTIFICATION NO. 04-1399290

 

                CERTIFICATE OF VOTE OF DIRECTORS ESTABLISHING

                          A SERIES OF A CLASS OF STOCK

 

                     General Laws, Chapter 156B, Section 26

We,         Arnold Hiatt                 ,President/and

            Marcia C. Morris             ,Clerk/of

 

 

THE  STRIDE RITE CORPORATION

                              (Name of Corporation)

located  at Five  Cambridge  Center,  Cambridge,  Massachusetts  02142 do hereby

certify that at a meeting of the  directors of the  corporation  held on July 2,

1987 , the following vote  establishing  and  designating a series of a class of

stock and  determining  the  relative  rights and  preferences  thereof was duly

adopted:

 

 

(see continuation sheets)

 

NOTE:  Votes for which the space provided above is not sufficient  should be set

out on continuation sheets to be numbered 2A, 2B, etc.  Continuation sheets must

hive a left-hand  margin 1 inch wide for binding and shall be 8 1/2" x 11". Only

one side should be used.

 

 

<PAGE>

 

 

 

 

 

 

 

 

VOTED,  that a new  series  of  Preferred  Stock of the  Corporation  is  hereby

created,  pursuant to the  authority  vested in the Board of  Directors  of this

Corporation  in  accordance  with the  provisions  of its  Restated  Articles of

Organization,  and that the  designation  and amount of the series of  Preferred

Stock and the voting powers, preferences and relative,  participating,  optional

and other special rights of the shares of such series,  and the  qualifications,

limitations or restrictions thereof are as follows:

 

Section 1. Designation and Amount. The shares of such series shall be designated

as  "Series A Junior  Participating  Preferred  Stock@  and the number of shares

constituting such series shall be 80,000.

 

Section 2.  Dividends and Distributions.

(A) Subject to the prior and superior rights of the holders of any shares of any

series of Preferred  Stock  ranking prior and superior to the shares of Series A

Junior Participating  Preferred Stock with respect to dividends,  the holders of

shares of Series A Junior  Participating  Preferred  Stock  shall be entitled to

receive, when, as and if declared by the Board of Directors out of funds legally

available for the purpose,  quarterly dividends payable in cash on the first day

of January,  April, July and October in each year (each such date being referred

to herein as a  "Quarterly  Dividend  Payment  Date"),  commencing  on the first

Quarterly  Dividend Payment Date after the first issuance of a share or fraction

of a share of Series A Junior  Participating  Preferred  Stock, in an amount per

share  (rounded  to the  nearest  cent) equal to the greater of (a) $1.00 or (b)

subject to the provision for  adjustment  hereinafter  set forth,  100 times the

aggregate  per share amount of all cash  dividends,  and 100 times the aggregate

per  share  amount  (payable  in  kind)  of  all  non-cash  dividends  or  other

distributions  other  than a  dividend  payable  in shares of Common  Stock or a

subdivision of the outstanding  shares of Common Stock (by  reclassification  or

otherwise),  declared on the Common  Stock,  par value  $1.00 per share,  of the

Corporation  (the "Common  Stock")  since the  immediately  preceding  Quarterly

Dividend Payment Date, or, with respect to the first Quarterly  Dividend Payment

Date,  since the first  issuance of any share or fraction of a share of Series A

Junior

 

                                           2A

 

 

<PAGE>

 

 

 

 

 

 

 

 

Participating  Preferred  Stock. In the event the Corporation  shall at any time

after July 2, 1987 (the "Rights  Declaration  Date") (i) declare any dividend on

Common Stock payable in shares of Common Stock,  (ii) subdivide the  outstanding

Common  Stock,  or (iii)  combine the  outstanding  Common  Stock into a smaller

number of shares,  then in each such case the amount to which  holders of shares

of Series A Junior Participating Preferred Stock were entitled immediately prior

to such event under clause (b) of the  preceding  sentence  shall be adjusted by

multiplying  such amount by a fraction  the  numerator of which is the number of

shares  of  Common  Stock  outstanding  immediately  after  such  event  and the

denominator  of  which is the  number  of  shares  of  Common  Stock  that  were

out-standing immediately prior to such event.

 

(B) The  Corporation  shall declare a dividend or  distribution  on the Series A

Junior  Participating  Preferred  Stock as provided in paragraph  (A) above imme

diately after it declares a dividend or  distribution on the Common Stock (other

than a dividend payable in shares of Common Stock);  provided that, in the event

no dividend or distribution  shall have been declared on the Common Stock during

the period between any Quarterly  Dividend  Payment Date and the next subsequent

Quarterly  Dividend  Payment Date, a dividend of $1.00 per share on the Series A

Junior  Participating  Preferred  Stock  shall  nevertheless  be payable on such

subsequent Quarterly Dividend Payment Date.

 

(C)  Dividends  shall  accumulate  on  outstanding  shares  of  Series  A Junior

Participating  Preferred  Stock from and after the day on which such  shares are

issued, but arrearages in the payment thereof shall not bear interest. Dividends

paid on the shares of Series A Junior Participating Preferred Stock in an amount

less than the total amount of such  dividends at the time accrued and payable on

such shares shall be allocated pro rata on a share-by-share basis among all such

shares at the time outstanding. The Board of Directors may fix a record date for

the  determination  of  holders  of  shares  of  Series A  Junior  Participating

Preferred  Stock  entitled  to receive  payment of a  dividend  or  distribution

declared  thereon,  which record date shall be no more than 30 days prior to the

date fixed for the payment thereof.

 

Section 3.  Voting Rights.  The holders of shares of Series A Junior

Participating Preferred Stock shall have the following voting rights:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                        2B

 

 

<PAGE>

 

 

 

 

 

 

 

 

 

 

(A) Subject to the provision for adjustment hereinafter set forth, each share of

Series A Junior  Participating  Preferred Stock shall entitle the holder thereof

to 100  votes on all  matters  submitted  to a vote of the  stockholders  of the

Corporation.  In the event the  Corporation  shall at any time  after the Rights

Declaration  Date (i) declare any dividend on Common Stock  payable in shares of

Common Stock, (ii) subdivide the out-standing Common Stock, or (iii) combine the

outstanding Common Stock into a smaller number of shares, then in each such case

the  number  of votes per  share to which  holders  of shares of Series A Junior

Participating  Preferred  Stock were  entitled  immediately  prior to such event

shall be adjusted by  multiplying  such number by a fraction  the  numerator  of

which is the number of shares of Common Stock outstanding immediately after such

event and the  denominator of which is the number of shares of Common Stock that

were outstanding immediately prior to such event.

 

(B) Except as  otherwise  provided  herein or by law,  the  holders of shares of

Series A Junior  Participating  Preferred  Stock  and the  holders  of shares of

Common Stock shall vote together as one class on all matters submitted to a vote

of stockholders 6f the Corporation.

 

(C) (i) If at any time dividends on any Series A Junior Participating  Preferred

Stock  shall be in arrears  in an amount  equal to six (6)  quarterly  dividends

thereon, the occurrence of such contingency shall mark the beginning of a period

(herein  called a Adefault  period@) which shall extend until such time when all

accrued and unpaid dividends for all previous quarterly dividend periods and for

the  current  quarterly  dividend  period  on all  shares  of  Series  A  Junior

Participating Preferred Stock then outstanding shall have been declared and paid

or set apart for payment.  During each default period,  all holders of Preferred

Stock (including holders of the Series A Junior  Participating  Preferred Stock)

with  dividends  in arrears in an amount  equal to six (6)  quarterly  dividends

thereon,  voting as a class,  irrespective  of  series,  shall have the right to

elect two (2) Directors.

 

(ii) During any  default  period,  such voting  right of the holders of Series A

Junior  Participating  Preferred  Stock may be exercised  initially at a special

meeting  called  pursuant to  subparagraph  (iii) of this Section 3(C) or at any

annual  meeting  of   stockholders,   and  thereafter  at  annual   meetings  of

stockholders,  provide  that  neither  such  voting  right  nor the right of the

holders of any other series of Preferred Stock, if any,

 

 

 

 

 

 

 

 

 

                          2C

 

 

<PAGE>

 

 

 

 

 

 

 

 

 

 

to  increase in certain  cases,  the  authorized  number of  Directors  shall be

exercised unless the holders of one-third in number of shares of Preferred Stock

outstanding  shall be present in person or by proxy.  The absence of a quorum of

the  holders of Common  Stock  shall not affect the  exercise  by the holders of

Preferred  Stock of such  voting  right.  At any meeting at which the holders of

Preferred  Stock shall exercise such voting right  initially  during an existing

default period, they shall have the right, voting as a class, to elect Directors

to fill such  vacancies,  if any, in the Board of Directors as may then exist up

to two (2)  Directors  or, if such right is exercised at an annual  meeting,  to

elect two (2)  Directors.  If the number  which may be so elected at any special

meeting does not amount to the  required  number,  the holders of the  Preferred

Stock shall have the right to make such  increase in the number of  Directors as

shall be necessary to permit the election by them of the required number.  After

the holders of the  Preferred  Stock shall have  exercised  their right to elect

Directors in any default period and during the  continuance of such period,  the

number of Directors  shall not be  increased or decreased  except by vote of the

holders of Preferred  Stock as herein  provided or pursuant to the rights of any

equity  securities  ranking  senior to or pari  passu  with the  Series A Junior

Participating Preferred Stock.

 

(iii) Unless the holders of Preferred  Stock shall,  during an existing  default

period, have previously  exercised their right to elect Directors,  the Board of

Directors may order, or any stockholder or stockholders  owning in the aggregate

not less than ten percent (10%) of the total number of shares of Preferred Stock

outstanding,  irrespective  of series,  may  request,  the  calling of a special

meeting of the holders of Preferred  Stock,  which  meeting  shall  thereupon be

called by the  President,  a  Vice-President  or the  Clerk of the  Corporation.

Notice of such meeting and of any annual  meeting at which  holders of Preferred

Stock are entitled to vote  pursuant to this  paragraph (C) (iii) shall be given

to each holder of record of Preferred  Stock by mailing a copy of such notice to

him at his last  address as the same  appears  on the books of the  Corporation.

Such  meeting  shall be called for a time not earlier than 20 days and not later

than 60 days after  such  order or request or in default of the  calling of such

meeting  within 60 days after such order or request,  such meeting may be called

on similar notice by any stockholder or stockholders owning in the aggregate not

less than ten

 

 

 

 

 

 

 

 

 

 

 

 

                        2D

 

 

<PAGE>

 

 

 

 

 

 

 

 

percent  (10%) of the total  number of shares of  Preferred  Stock  outstanding.

Notwithstanding  the  provisions  of this  paragraph  (C)(iii),  no such special

meeting shall be called during the period within 60 days  immediately  preceding

the date fixed for the next annual meeting of the stockholders.

 

(iv) In any default  period,  the holders of Common Stock,  and other classes of

stock of the  Corporation if applicable,  shall continue to be entitled to elect

the whole  number of Directors  until the holders of Preferred  Stock shall have

exercised  their right to elect two (2) Directors  voting as a class,  after the

exercise of which right (x) the Directors so elected by the holders of Preferred

Stock shall continue in office until their successors shall have been elected by

such holders or until the expiration of the default period,  and (y) any vacancy

in the Board of Directors  may (except as provided in paragraph  (C)(ii) of this

Section  3)  be  filled  by  vote  of a  majority  of  the  remaining  Directors

theretofore  elected by the  holders  of the class of stock  which  elected  the

Director whose office shall have become vacant. References in this paragraph (C)

to Directors elected by the holders of a particular class of stock shall include

Directors  elected by such Directors to fill vacancies as provided in clause (y)

of the foregoing sentence.

 

(v).  Immediately upon the expiration of a default period,  (x) the right of the

holders of Preferred Stock as a class to elect  Directors  shall cease,  (y) the

term of any Directors elected by the holders of Preferred Stock as a class shall

terminate,  and (z) the  number  of  Directors  shall be such  number  as may be

provided for in the certificate of incorporation or by-laws  irrespective of any

increase made pursuant to the provisions of paragraph  (C)(ii) of this Section 3

(such number being subject, however, to change thereafter in any manner provided

by law or in the certificate of incorporation  or bylaws).  Any vacancies in the

Board of  Directors  effected  by the  provisions  of clauses (y) and (z) in the

preceding sentence may be filled by a majority of the remaining  Directors.  (D)

Except as set forth herein,  holders of Series A Junior Participating  Preferred

Stock  shall  have no  special  voting  rights  and their  consent  shall not be

required  (except to the extent they are entitled to vote with holders of Common

Stock as set forth herein) for taking any corporate action.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                     2E

 

 

<PAGE>

 

 

 

 

 

 

 

 

             (d)  Except  as set  forth  herein,  holders  of  Series  A  Junior

Participating  Preferred  Stock  shall have no special  voting  rights and their

consent  shall not be required  (except to the extent they are  entitled to vote

with  holders of Common  Stock as set forth  herein)  for  taking any  corporate

action.

 

 

Section 4.  Certain Restrictions.

 

(A) Whenever quarterly dividends or other dividends or distributions  payable on

the Series A Junior  Participating  Preferred Stock as provided in Section 2 are

in  arrears,   thereafter  and  until  all  accrued  and  unpaid  dividends  and

distributions,   whether  or  not  declared,   on  shares  of  Series  A  Junior

Participating  Preferred  Stock  outstanding  shall have been paid in full,  the

Corporation shall not

 

            (i) declare or pay dividends on, make any other distributions on, or

redeem or purchase or otherwise  acquire for  consideration  any shares of stock

ranking  junior  (either as to dividends  or upon  liquidation,  dissolution  or

winding up) to the Series A Junior Participating Preferred Stock;

 

            ii) declare or pay dividends on or make any other  distributions  on

any  shares  of  stock  ranking  on a parity  (either  as to  dividends  or upon

liquidation,  dissolution or winding up) with the Series A Junior  Participating

Preferred  Stock,   except  dividends  paid  ratably  on  the  Series  A  Junior

Participating  Preferred  Stock and all such parity stock on which dividends are

payable or in arrears in proportion to the total amounts to which the holders of

all such shares are then entitled;

 

            (iii)  redeem or purchase  or  otherwise  acquire for  consideration

shares  of any  stock  ranking  on a  parity  (either  as to  dividends  or upon

liquidation,  dissolution or winding up) with the Series A Junior  Participating

Preferred Stock, provided that the Corporation may at any time redeem,  purchase

or otherwise  acquire  shares of any such parity stock in exchange for shares of

any stock of the  Corporation  ranking  junior  (either as to  dividends or upon

dissolution,  liquidation  or winding  up) to the Series A Junior  Participating

Preferred Stock;

 

 

 

 

 

 

 

 

 

 

 

                               2F

 

 

<PAGE>

 

 

 

 

 

 

 

 

 

 

 

            (iv) purchase or otherwise  acquire for  consideration any shares of

Series A Junior Participating Preferred Stock, or any shares of stock ranking on

a parity  with the  Series A Junior  Participating  Preferred  Stock,  except in

accordance  with  a  purchase  offer  made  in  writing  or by  publication  (as

determined  by the Board of  Directors)  to all holders of such shares upon such

terms as the Board of Directors,  after  consideration of the respective  annual

dividend  rates and other  relative  rights and  preferences  of the  respective

series and  classes,  shall  determine  in good  faith  will  result in fair and

equitable treatment among the respective series or classes.

 

(B) The  Corporation  shall not  permit any  subsidiary  of the  Corporation  to

purchase  or  otherwise  acquire  for  consideration  any shares of stock of the

Corporation unless the Corporation could, under paragraph (A) of this Section 4,

purchase or otherwise acquire such shares at such time and in such manner.

 

Section  5.  Reacquired  Shares.  Any  shares of  Series A Junior  Participating

Preferred Stock purchased or otherwise acquired by the Corporation in any manner

whatsoever  shall be  retired  and  cancelled  promptly  after  the  acquisition

thereof.  All such shares shall upon their  cancellation  become  authorized but

unissued  shares of Preferred  Stock and may be reissued as part of a new series

of Preferred  Stock to be created by resolution or  resolutions  of the Board of

Directors,  subject to the  conditions  and  restrictions  on issuance set forth

herein.

 

Section 6.  Liquidation,  Dissolution  or Winding  Up. (A) Upon any  liquidation

(voluntary  or  otherwise),  dissolution  or winding up of the  Corporation,  no

distribution  shall be made to the  holders  of shares of stock  ranking  junior

(either as to dividends or upon  liquidation,  dissolution or winding up) to the

Series A Junior Participating Preferred Stock unless, prior thereto, the holders

of shares of Series A Junior  Participating  Preferred Stock shall have received

$160 per  share,  plus an amount  equal to  accrued  and  unpaid  dividends  and

distributions thereon, whether or not declared, to the date of such payment (the

"Initial  Series A  Liquidation  Payment").  Following  the  payment of the full

amount of the Initial Series A Liquidation Payment, no additional  distributions

shall  be made to the  holders  of  shares  of  Series  A  Junior  Participating

Preferred Stock unless, prior thereto, the holders of

 

 

 

 

 

 

 

 

                                    2G

 

 

<PAGE>

 

 

 

 

 

 

 

 

 

 

shares of Common  Stock  shall have  received  an amount per share (the  ACommon

Adjustment") equal to the quotient obtained by dividing (i) the Initial Series A

Liquidation  Payment  by (ii) 100 (as  appropriately  adjusted  as set  forth in

subparagraph C below to reflect such events as stock splits, stock dividends and

recapitalizations  with respect to the Common Stock) (such number in clause (ii)

immediately above being referred to as the "Adjustment  Number").  Following the

payment of the full amount of the Initial  Series A Liquidation  Payment and the

Common  Adjustment  in  respect  of all  outstanding  shares  of Series A Junior

Participating Preferred Stock and Common Stock, respectively,  holders of Series

A Junior  Participating  Preferred  Stock and holders of shares of Common  Stock

shall receive their ratable and  proportionate  share of the remaining assets to

be distributed in the ratio of the Adjustment  Number to one (1) with respect to

such Preferred Stock and Common Stock, on a per share basis,  respectively;  and

the shares of Series A Junior Participating Preferred Stock shall be entitled to

no further preference.

 

(B) In the event,  however,  that there are not sufficient  assets  available to

permit  payment in full of the  Initial  Series A  Liquidation  Payment  and the

liquidation  preferences of all other series of preferred  stock,  if any, which

rank on a parity with the Series A Junior  Participating  Preferred Stock,  then

such remaining assets shall be distributed ratably to the holders of such parity

shares in proportion to their respective liquidation preferences.  In the event,

however,  that there are not  sufficient  assets  available to permit payment in

full of the Common  Adjustment,  then such remaining assets shall be distributed

ratably to the holders of Common Stock.

 

(C) In the event the Corporation shall at any time after the Rights  Declaration

Date (i) declare any dividend on Common Stock payable in shares of Common Stock,

(ii) subdivide the  outstanding  Common Stock,  or (iii) combine the outstanding

Common Stock into a smaller number of shares, then in

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                    2H

 

 

<PAGE>

 

 

 

 

 

 

 

 

 

each such case the Adjustment  Number in effect  immediately prior to such event

shall be  adjusted  by  multiplying  such  Adjustment  Number by a fraction  the

numerator  of  which  is the  number  of  shares  of  Common  Stock  outstanding

immediately  after  such  event and the  denominator  of which is the  number of

shares of Common Stock that were outstanding immediately prior to such event.

 

                     Section 7.  Consolidation, Merger, etc.  In case the

Corporation  shall enter into any  consolidation,  merger,  combination or other

transaction  in which the shares of Common  Stock are  exchanged  for or changed

into other stock or securities, cash and/or any other property, then in any such

case the shares of Series A Junior  Participating  Preferred  Stock shall at the

same time be similarly  exchanged or changed in an amount per share  (subject to

the  provision  for  adjustment  hereinafter  set forth)  equal to 100 times the

aggregate amount of stock,  securities,  cash and/or any other property (payable

in kind), as the case may be, into which or for which each share of Common Stock

is changed or exchanged.  In the event the  Corporation  shall at any time after

the Rights  Declaration Date (i) declare any dividend on Common Stock payable in

shares of Common Stock,  (ii) subdivide the  outstanding  Common Stock, or (iii)

combine the  outstanding  Common Stock into a smaller number of shares,  then in

each such case the amount set forth in the  preceding  sentence  with respect to

the  exchange  or change of  shares of Series A Junior  Participating  Preferred

Stock shall be adjusted by  multiplying  such amount by a fraction the numerator

of which is the number of shares of Common Stock  outstanding  immediately after

such event and the  denominator of which is the number of shares of Common Stock

that were outstanding immediately prior to such event.

 

                     Section 8.  Redemption.  The outstanding shares of Series

A Junior  Participating  Preferred  Stock may be  redeemed  at the option of the

Board of Directors  as a whole,  but not in part,  at any time,  or from time to

time,  at a cash price per share  equal to 105 percent of (i) the product of the

Adjustment  Number times the Average  Market Value (as such term is  hereinafter

defined) of the Common Stock,  plus (ii) all dividends  which on the  redemption

date have  accrued  on the  shares to be  redeemed  and have not been  paid,  or

declared  and a sum  sufficient  for the  payment  thereof  set  apart,  without

interest. The "Average Market Value" is the average of the closing sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                     2I

 

 

<PAGE>

 

 

 

 

 

 

 

 

 

 

prices of the Common Stock during the 30 day period  immediately  preceding  the

date  before.  the  redemption  date on the  Composite  Tape for New York  Stock

Exchange  Listed Stocks,  or, if such stock is not quoted on the Composite Tape,

on the New  York  Stock  Exchange,  or,  if such  stock  is not  listed  on such

Exchange,  on the principal United States securities  exchange  registered under

the Securities  Exchange Act of 1934, as amended, on which such stock is listed,

or, if such stock is not listed on any such exchange, the average of the closing

sale prices with respect to a share of Common  Stock during such 30-day  period,

as quoted on the National  Association  of Securities  Dealers,  Inc.  Automated

Quotations  System  or any  system  then in use,  or if no such  quotations  are

available,  the fair market value of the Common Stock as determined by the Board

of Directors in good faith.

 

Section 9. Ranking. The Series A Junior Participating Preferred Stock shall rank

junior  to all  other  series  of the  Corporation's  Preferred  Stock as to the

Payment of dividends  and the  distribution  of assets,  unless the terms of any

such series shall provide otherwise.

 

Section 10. Amendment.  The Restated Articles of Organization of the Corporation

shall not be further  amended  in any manner  which  would  materially  alter or

change  the  powers,  preferences  or  special  rights  of the  series  A Junior

Participating  Preferred  Stock  so as to  affect  them  adversely  without  the

affirmative vote of the holders of a majority or more of the outstanding  shares

of Series A Junior Participating Preferred Stock, voting separately as a class.

 

Section 11. Fractional Shares. Series A Junior Participating Preferred Stock may

be issued in fractions of a share which shall entitle the holder,  in proportion

to such holders fractional shares, to exercise voting rights, receive dividends,

participate  in  distributions  and to have the  benefit of all other  rights of

holders of Series A Junior Participating Preferred Stock.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

<PAGE>

 

 

 

 

 

 

 

                                  2J

 

 

 

IN WITNESS WHEREOF AND UNDER THE PENALTIES OF PERJURY, we have hereto signed

our names this

        second    day of July       in the year 1987.

        /s/ Arnold Hiatt      ,President/

        /s/ Marcia C. Morris        ,Clerk/

 

 

<PAGE>

 

 

 

 

 

 

 

 

THE COMMONWEALTH OF MASSACHUSETTS

 

Certificate of Vote of Directors Establishing

A Series of a Class of Stock

 

(General Laws, Chapter 156B, Section 26)

 

I hereby approve the within  certificate  and, the filing fee in the amount of $

75.00 having been paid,  said  certificate is hereby filed this 2nd day of July,

1987.

 

 

/s/ MICHAEL JOSEPH CONNOLLY

                             MICHAEL JOSEPH CONNOLLY

Secretary of State

 

 

 

 

TO BE FILLED IN BY CORPORATION

 

PHOTOCOPY OF CERTIFICATE TO BE SENT

 

 

TO:

 

   Marcia C. Morris, Esq.

 

The Stride Rite Corporation

Five Cambridge Center

Cambridge, Massachusetts 02142

Telephone    (617) 491-8800

 

 

<PAGE>

 

 

 

 

 

 

 

                        The Commonwealth of Massachusetts

OFFICE OF THE MASSACHUSETTS SECRETARY OF STATE

MICHAEL JOSEPH CONNOLLY, Secretary

ONE ASHBURTON PLACE, BOSTON, MASS. 02108

 

FEDERAL IDENTIFICATION  NO. 04-1399290

 

                              ARTICLES OF AMENDMENT

 

General Laws, Chapter 156B, Section 72

 

This certificate  must be submitted to the Secretary of the Commonwealth  within

sixty days after the date of the vote of  stockholders  adopting the  amendment.

The fee for filing this certificate is prescribed by General Laws, Chapter 156B,

Section 114. Make check payable to the Commonwealth of Massachusetts.

 

   We, Michael Rayden         ,President/and

   Marcia C. Morris     ,Clerk/of

 

The Stride Rite Corporation

                              (Name of Corporation)

 

located at  Five Cambridge Center, Cambridge, Massachusetts 02142

 

   do  hereby   certify  that  the  following   amendment  to  the  articles  of

organization  of the  corporation was duly adopted at a meeting held on December

2,  1987,  by vote of  5,721,0  8  shares  of  Common  out  of,  485,635  shares

outstanding,

                       (Class of Stock)

 

being at least a majority of each class outstanding and entitled to vote

thereon:

 

CROSS OUT

INAPPLICABLE

CLAUSE

 

To amend the Restated  Articles of  Organization  of the Corporation to increase

the number of  authorized  shares of Common Stock from  15,000,000 to 50,000,000

shares, to split the issued Common Stock two-for-one and to reduce the par value

of the authorized Common Stock from $1.00 per share to .50 per share.

 

For  amendment,  adopted  pursuant to Chapter 156B,  Section 70. For  amendments

adopted pursuant to Chapter 156B, Section 71.

 

Note:  If the  space  provided  under  any  Amendment  or item  on this  form is

insufficient. additions shall be set forth on separate 8 1/ x 11 sheets of paper

leaving a left hand  margin of at least 1 inch for  binding.  Additions  to more

than one Amendment may be continued on a single sheet so long as each  Amendment

requiring each such addition is clearly indicated.

 

 

<PAGE>

 

 

 

 

 

 

 

 

 

TO CHANGE the number of shares and the par value, if any, of each class of stock

within the corporation fill in the following:

The total presently authorized is:

KIND OF STOCK                    NO PAR VALUE   WITH PAR VALUE    PAR

                                  NUMBER OF SHARES           NUMBER OF SHARES

                                 VALUE

 

COMMON                                          15,000,000        $1.00

 

PREFERRED                                       1,000,000   $1.00

CHANGE the total to:

KIND OF STOCK                    NO PAR VALUE   WITH PAR VALUE    PAR

                                  NUMBER OF SHARES           NUMBER OF SHARES

                                 VALUE

COMMON                                          50,000,000        $.50

 

PREFERRED                                       1,000,000   $1.00

 

 

<PAGE>

 

 

 

 

 

 

 

 

THE COMMONWEALTH OF MASSACHUSETTS

 

 

ARTICLES OF AMENDMENT

(General Laws, Chapter 156B, Section 72)

 

I hereby  approve the within  articles of  amendment  and, the filing fee in the

amount of  $17,500.00  having been paid,  said  articles are deemed to have been

filed with me this 16th day of December, 1987.

 

 

 

 

/s/Michael J Connolly

MICHAEL JOSEPH CONNOLLY

Secretary of State

 

 

 

 

 

 

 

TO BE FILLED IN BY CORPORATION

PHOTO COPY OF AMENDMENT TO BE SENT

 

TO:   Marcia C. Morris, Esq.

The Stride Rite Corporation

Five Cambridge Center

          7th Floor

Cambridge, Massachusetts 02142

Telephone (617) 491-8800

 

Copy Mailed

 

 

<PAGE>

 

 

 

 

 

 

 

 

The foregoing  amendment will become  effective when these articles of amendment

are filed in accordance with Chapter 156B,  Section 6 of The General Laws unless

these articles  specify,  in accordance with the vote adopting the amendment,  a

later effective date not more than thirty days after such filing. in which event

the amendment will become  effective on such later date. IN WITNESS  WHEREOF AND

UNDER THE PENALTIES OF PERJURY, we have hereto signed our names this

      sixteenth   day of December         , in the year 1987

      /s/Michael Rayden       President/

      /s/Marcia C Morris        Clerk/

 

 

<PAGE>

 

 

 

 

 

 

 

 

        The Commonwealth of Massachusetts

 

OFFICE OF THE MASSACHUSETTS SECRETARY OF STATE

MICHAEL JOSEPH CONNOLLY, Secretary

ONE ASHBURTON PLACE, BOSTON, MASSACHUSETTS 02108

ARTICLES OF AMENDMENT         FEDERAL IDENTIFICATION

General Laws, Chapter 1 56B, Section 72           No.  04-1399290

 

We            Ervin R. Shames                   , President/ and

        Suzanne M. Zabitchuck           , Assistant Clerk of

The Stride Rite Corporation

(EXACT Name of Corporation)

located at:  Five Cambridge Center, Cambridge, MA 02142

                 (MASSACHUSETTS  Address of  Corporation) do hereby certify that

these ARTICLES OF AMENDMENT affecting Articles NUMBERED: _________ Three (Number

those  articles 1, 2, 3, 4, 5 and/or 6 being amended  hereby) of the Articles of

Organization were duly adopted at a meeting held on Dec. 2

   1991, by vote of:

 

 

______________ shares of Common Stock out of ____________ shares outstanding,

                                       type, class & series, (if any)

type, class & series, (if any)

type, class & series, (if any)

 

   CROSS OUT      being at least a majority of each type, class or series

outstanding and entitled to vote

   INAPPLI-       thereon: - 1

   CABLE

   CLAUSE                       I,

 

To amend the Restated  Articles of  Organization  of the Corporation to increase

the number of authorized  shares of Common Stock from  50,000,000 to 135,000,000

shares, to split the issued Common Stock two-for-one and to reduce the par value

of the authorized Common Stock from $.50 per share to $.25 per share.

 

1 For amendments adopted pursuant to Chapter 156B, Section 70.

 

2 For amendments adapted pursuant to Chapter 156B, Section 71.

 

Note:  If the  space  provided  under  any  Amendment  or item  an this  form is

insufficient,  additions  shall be set  forth an  separate  8 1/2 x 11 sheets of

paper  leaving a left-hand  margin of at least 1 inch for binding.  Additions to

more  than one  Amendment  may be  continued  on a single  sheet so long as each

Amendment requiring each such addition is clearly indicated.

 

 

<PAGE>

 

 

 

 

 

 

 

 

To CHANGE the number of shares and the par value (if any) of any type,  class or

series of stock  which  the  corporation  is  authorized  to issue,  fill in the

following:

 

The total presently authorized is:

       WITHOUT PAR VALUE STOCKS                  WITH PAR VALUE

      STOCKS

       TYPE     NUMBER OF SHARES      TYPE       NUMBER OF SHARES    PAR VALUE

COMMON                                COMMON:    50,000,000            $.50

 

PREFERRED                             PREFERRED:  1,000,000           $1.00

 

 

 

CHANGE the total authorized to:

 

       WITHOUT PAR VALUE STOCKS                 WITH PAR VALUE STOCKS

      TYPE     NUMBER OF SHARES       TYPE       NUMBER OF SHARES    PAR VALUE

COMMON:                               COMMON:      135,000,000        $.25

 

PREFERRED:                            PREFERRED:     1,000,000       $1.00

 

 

 

 

 

<PAGE>

 

 

 

 

 

 

 

The foregoing  amendment will become  effective when these articles of amendment

are filed in accordance with Chapter 156B,  Section 6 of The General Laws unless

these articles  specify,  in accordance with the vote adopting the amendment,  a

later effective date not more than thirty days after such filing, in which event

the amendment will become effective on such later date. EFFECTIVE DATE: December

3, 1991

 

 

 

IN WITNESS  WHEREOF AND UNDER THE PENALTIES OF PERJURY,  we have hereunto signed

our names this 2nd day of December, In the year 19 91.

 

/s/Ervin R. Shames       , President

 

Ervin R. Shames

 

/s/Suzanne M. Zabitchuck     , Assistant Clerk

Suzanne M. Zabitchuck

 

 

<PAGE>

 

 

 

 

 

 

 

 

                        THE COMMONWEALTH OF MASSACHUSETTS

 

 

                              ARTICLES OF AMENDMENT

 

                     GENERAL LAWS, CHAPTER 156B, SECTION 72

 

 

 

 

I hereby  approve the within  articles of  amendment  and, the filing fee in the

amount of  $85,000.00  having been paid,  said  articles are deemed to have been

filed with me this 3rd day of December 1991. 1991.

 

 

 

 

                              /s/Michael J Connolly

 

                             MICHAEL JOSEPH CONNOLLY

                               Secretary of State

 

 

 

 

 

 

 

 

TO BE FILLED IN BY CORPORATION

 

 

PHOTOCOPY OF ARTICLES OF AMENDMENT TO BE SENT

 

 

 

 

TO:    David J. Kramer, Associate Counsel

The Stride Rite Corporation

Five Cambridge Center

 

Cambridge, MA 02142

   Telephone:     617-491-8800