The term debit comes from the Latin debitum which means "that which is owing" (the past participle of debere "to owe"). Debit is abbreviated to Dr (for debitor). The term credit comes from the Latin credere/credit meaning "to trust or believe" / "he trusts or believes" via the French credit and the Italian credito. Credit is abbreviated to Cr (for creditor).

dēbitum (genitive dēbitī); n, second declension

1. A debt; something that is owed to another person or entity.
2. An obligation.

Date of report (Date of earliest event reported) September 11, 2009

Director Retirement

James I. Cash, Jr., Ph.D., who has served as a member of the Microsoft Board of Directors since 2001, has informed the Company that he has decided to retire from the Board in order to devote more time to other professional and personal commitments. Dr. Cash will not stand for re-election at the 2009 annual meeting of shareholders; therefore, his retirement will be effective on that date. The Company issued a press release announcing Dr. Cash’s plans on September 11, 2009.

Press Release

REDMOND, Wash. — Sept. 11, 2009 — Microsoft Corp. today announced that James I. Cash Jr., Ph.D., emeritus James E. Robison professor at the Harvard Business School, has decided not to seek re-election to Microsoft’s board of directors at the company’s 2009 shareholder meeting.

Cash, who joined the Microsoft board in May 2001, said that he has enjoyed working with his colleagues on the board, but was stepping down due to increasing pressure on his time from other professional and personal commitments.

“Jim has brought tremendous wisdom and judgment to our board, as well as keen insights into our enterprise business efforts based on his academic work at Harvard,” said Steve Ballmer, Microsoft’s chief executive officer. “We appreciate all of his contributions and we will certainly miss his leadership and perspective.”

“This was a difficult decision. I have tremendous respect for my colleagues on the Microsoft board, and I have enjoyed the work we’ve done together over the past eight years,” Cash said. “Microsoft has a tremendous innovation pipeline coming to market over the next two years, so the company is well-positioned for growth as the economy improves.”

With Cash’s departure, the Microsoft board will have nine members: Bill Gates, chairman of Microsoft; Steve Ballmer; Dina Dublon, former chief financial officer of JPMorgan

Date of report (Date of earliest event reported) March 26, 2007

FORM 8-K

Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

(d) On March 26, 2007, Microsoft Corporation (“Microsoft”) issued a press release to announce that the Microsoft Board of Directors has appointed Reed Hastings, age 46, to the Microsoft Board of Directors, effective immediately. Mr. Hastings is the chairman and CEO of Netflix, Inc., which he founded in 1997.

Mr. Hastings will serve on the finance committee of the Board. Mr. Hastings will receive the same compensation as other non-employee Microsoft directors, consisting of:

•

A total annual retainer of $200,000 per year with approximately $120,000 of the retainer provided in the form of a stock award, both amounts prorated at 75% for the portion of the current annual period during which he will serve on the Board

•

Reimbursement of reasonable expenses incurred in connection with board-related activities

Mr. Hastings and Microsoft have entered into the standard Microsoft director indemnification agreement, whereby Microsoft agrees to indemnify, defend and hold its directors harmless from and against losses and expenses incurred as a result of their board service, subject to the terms and conditions provided in the agreement.

Press Release

REDMOND, Wash. — March 26, 2007 — Microsoft Corp. today announced that its board of directors has increased the size of the board from nine to 10 members and elected Reed Hastings, 46, chairman and CEO of Netflix Inc., to the board. Hastings has also been appointed to the finance committee. At the meeting, the board of directors also declared a quarterly dividend of $0.10 per share, payable June 14, 2007, to shareholders of record on May 17, 2007. The ex-dividend date will be May 15, 2007.

“Reed’s track record for delivering innovative and disruptive technologies to market is very impressive,” said Microsoft chairman Bill Gates. “With his rich consumer and technology background, he will be a tremendous addition to our board.”

“There are very few companies that rival Microsoft’s impact on the way millions of people live, work and play around the world,” Hastings said. “I look forward to working with Microsoft’s esteemed group of board members to help shape the direction of the company as it continues to tackle the biggest industry challenges and opportunities.”

Hastings founded Netflix in 1997, and the company ended 2006 with 6.3 million subscribers, having more than doubled in size over the last two years.

Prior to founding Netflix, Hastings founded Pure Software, which he built into one of the world’s 50 largest public software companies. After a successful public offering and a number of acquisitions, Pure was acquired by Rational Software in 1997. An active community leader, Hastings has also been deeply involved in promoting education initiatives, and has served as president of the California State Board of Education.

He holds a bachelor’s degree in mathematics from Bowdoin College and a master’s degree in computer science from Stanford University. Hastings also served in the United States Peace Corps.

Microsoft’s board of directors consists of William H. Gates, Microsoft chairman; Steven A. Ballmer, Microsoft chief executive officer; James I. Cash Jr., Ph.D., former James E. Robison professor of business administration at the Harvard Business School; Dina Dublon, former chief financial officer of JPMorgan Chase; Raymond V. Gilmartin, professor of management practice at Harvard Business School and former chairman, president and chief executive officer of Merck & Co. Inc.; David F. Marquardt, general partner at August Capital; Charles H. Noski, former vice chairman of AT&T Corp.; Dr. Helmut Panke, former chairman of the board of management at BMW AG; and Jon A. Shirley, former president and chief operating officer of Microsoft.

Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.