IDC ANNUAL MEETING MINUTES January 8, 2008 The Regular Annual Meeting of the Directors of the Industrial Development Corporation (IDC) of the Port of Grays Harbor was held on Tuesday, January 8, 2008 at the offices of the Port of Grays Harbor located in Aberdeen, Washington following public notice. IDC Directors Chuck Caldwell, Stan Pinnick and Jack Thompson were present. Also in attendance were IDC Chief Executive Officer Gary Nelson, and those in attendance at the Regular Port Commission Meeting held on January 8, 2008. The purpose of the meeting was to elect officers and appoint the Chief Executive Officer for 2008. It was moved and seconded that the Officers of the IDC for 2008 would be as follows: President - Stan Pinnick Vice President - Jack Thompson Secretary-Treasurer - Chuck Caldwell Chairman of the Board - Stan Pinnick Secretary of the Board - Chuck Caldwell The President put the motion to a vote of the members of the Board of Directors and it was approved by the following vote: AYES: 3 NOES: 0 ABSTAINS: 0 The President then declared the motion passed. It was moved and seconded that Gary Nelson be appointed Chief Executive Officer for 2008. The President put the motion to a vote of the members of the Board of Directors and it was approved by the following vote: AYES: 3 NOES: 0 ABSTAINS: 0 The President then declared the motion passed. Port Legal Counsel Art Blauvelt was called upon to read the proposed minutes for the meeting of January 8, 2008 to the Board of Directors. It was moved and seconded that the minutes of the January 8, 2008 Regular Annual Meeting of the Industrial Development Corporation of the Port of Grays Harbor be approved. The President put the motion to a vote of the members of the Board of Directors and the minutes were approved by the following vote: AYES: 3 NOES: 0 ABSTAINS: 0 The President then declared the oral minutes of the January 8, 2008 Regular Annual Meeting approved and written minutes will be signed the same in the presence of the Board of Directors. MINUTES OF THE JANUARY 8, 2008 REGULAR ANNUAL MEETING APPROVED AND CERTIFIED TO BE TRUE AND CORRECT and to reflect accurately the actions of the duly constituted officers and members of the Board of Directors of the Industrial Development Corporation, on this 8th day of January, 2008.