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<TITLE>Corvel Corporation</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center" style="font-size: 10pt; margin-top: 18pt">As filed with the Securities and Exchange Commission on September&nbsp;30, 2005
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 3pt">Registration No.&nbsp;333-
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;
</DIV>



<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
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<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 0pt"><B>REGISTRATION STATEMENT<BR>
<I>Under<BR>
The Securities Act of 1933</I></B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>CORVEL CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in Its Charter)</DIV>


<DIV align="center" style="font-size: 10pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
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    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>33-0282651</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction<BR>
of Incorporation or Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer Identification No.)</TD>
</TR>
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</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>2010 Main Street, Suite&nbsp;600<BR>
Irvine, California 92614</B><BR>
(Address of Registrant&#146;s Principal Executive Offices) (Zip Code)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>CORVEL CORPORATION<BR>
RESTATED 1991 EMPLOYEE STOCK PURCHASE PLAN</B><BR>
(Full Title of the Plan)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>V. Gordon Clemons<BR>
President and Chief Executive Officer<BR>
CorVel Corporation<BR>
2010 Main Street, Suite&nbsp;600, Irvine, CA 92614</B><BR>
(Name and Address of Agent for Service)<BR>
<B>(949)&nbsp;851-1473</B><BR>
(Telephone Number, Including Area Code, of Agent for Service)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt">with a copy to:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>R. Patrick Arrington, Esq.<BR>
Parker A. Schweich, Esq.<BR>
Dorsey &#038; Whitney LLP<BR>
38 Technology Drive<BR>
Irvine, CA 92618<BR>
(949)&nbsp;932-3600</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="52%">&nbsp;</TD>
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    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Title of Securities</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount to</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>to be Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>be Registered (1)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Offering Price per Share (2)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Aggregate Offering Price (2)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Registration Fee</B></TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Common Stock, $0.0001
par value, issuable
pursuant to CorVel
Corporation Restated
1991 Employee Stock
Purchase Plan
(including associated
preferred stock
purchase rights)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" nowrap valign="bottom">200,000 shares
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">23.10</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">4,620,000</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">543.77</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Registration Statement shall also cover any additional shares of the Registrant&#146;s common
stock that become issuable under the CorVel Corporation Restated 1991 Employee Stock Purchase
Plan (the &#147;Plan&#148;), by reason of any stock dividend, stock split, recapitalization or any other
similar transaction effected without the Registrant&#146;s receipt of consideration which results
in an increase in the number of outstanding shares of the Registrant&#146;s common stock.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Calculated solely for the purpose of this offering under Rules 457(h) and 457(c) of the
Securities Act of 1933, as amended (the &#147;1933 Act&#148;), on the basis of the average of the high
and low sales prices per share of the Registrant&#146;s common stock on September&nbsp;23, 2005, as
reported on the Nasdaq National Market.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>












<P align="center" style="font-size: 10pt">
</DIV>

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<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
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	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;5. Interests of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="a13050orexv5w1.htm">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="a13050orexv23w1.htm">EXHIBIT 23.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="a13050orexv99w1.htm">EXHIBIT 99.1</A></TD></TR>
</TABLE>
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<!-- link1 "PART II" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;3. <U>Incorporation of Documents by Reference</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CorVel Corporation (the &#147;Registrant&#148;) hereby incorporates by reference into this Registration
Statement the following documents filed with the Securities and Exchange Commission (the
&#147;Commission&#148;):
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Annual Report on Form 10-K for the fiscal year ended March&nbsp;31,
2005 filed with the Commission on August&nbsp;2, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Current Report on Form 8-K filed with the Commission on June
30, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Current Report on Form 8-K filed with the Commission on July
5, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Quarterly Report on Form 10-Q for the quarter ended June&nbsp;30,
2005 filed with the Commission on August&nbsp;15, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Current Report on Form 8-K filed with the Commission on August
22, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Amendment No.&nbsp;1 to Quarterly Report on Form 10-Q/A for the
quarter ended June&nbsp;30, 2005 filed with the Commission on September&nbsp;23, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Registrant&#146;s common stock, par value $0.0001 per share,
contained in the Registrant&#146;s Registration Statement on Form 8-A, as filed with the
Commission on May&nbsp;16, 1991 pursuant to Section&nbsp;12 of the Securities Exchange Act of
1934 (the &#147;1934 Act&#148;), including Amendment No.&nbsp;1 thereto filed on June&nbsp;28, 1991 and any
other amendments or reports filed for the purpose of updating such description; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Registrant&#146;s preferred stock purchase rights contained
in the Registrant&#146;s Registration Statement on Form 8-A, as filed with the Commission on
February&nbsp;25, 1997 pursuant to Section&nbsp;12 of the 1934 Act, including Amendment No.&nbsp;1
thereto filed on May&nbsp;24, 2002 and any other amendments or reports filed for the purpose
of updating such description.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All reports and definitive proxy or information statements filed pursuant to Sections&nbsp;13(a),
13(c), 14 or 15(d) of the 1934 Act after the date of this Registration Statement and prior to the
filing of a post-effective amendment which indicates that all securities offered hereby have been
sold or which de-registers all securities then remaining unsold shall be deemed to be incorporated
by reference into this Registration Statement and to be a part hereof from the date of filing of
such documents. The Registrant expressly excludes from such incorporation information furnished
pursuant to Item&nbsp;2.02 or Item&nbsp;7.01 of any Current Report on Form 8-K. Any document or any
statement contained in a document incorporated or deemed to be incorporated by reference herein
shall be deemed to be modified or superseded for purposes of this Registration Statement to the
extent that a subsequently filed document or a statement contained herein or in any other
subsequently filed document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such document or such statement. Any such document or statement so modified
or superseded shall not be deemed, except as so modified or superseded, to constitute a part of
this Registration Statement.
</DIV>

<P align="center" style="font-size: 10pt">II-1
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link2 "Item&nbsp;4. Description of Securities" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;4. <U>Description of Securities</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;5. <U>Interests of Named Experts and Counsel</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers" -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;6. <U>Indemnification of Directors and Officers</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section&nbsp;145 of the Delaware General Corporation Law, the Registrant can indemnify its
directors and officers against liabilities they may incur in such capacities, including liabilities
under the 1933 Act. The Registrant&#146;s certificate of incorporation provides that none of the
Registrant&#146;s directors shall be personally liable for monetary damages for breach of such
director&#146;s fiduciary duties to the Registrant or its stockholders. This provision does not
eliminate the duty of care, and, in appropriate circumstances, equitable remedies such as
injunctive or other forms of non-monetary relief will remain available under Delaware law. In
addition, each director will continue to be subject to liability for breach of the director&#146;s duty
of loyalty to the Registrant or its stockholders, for acts or omissions not in good faith or
involving intentional misconduct or knowing violations of law, for actions leading to improper
personal benefit to the director, and for payment of dividends or approval of stock repurchases or
redemptions that are unlawful under Delaware law. The provision also does not affect a director&#146;s
responsibilities under any other law, such as the federal securities laws or state or federal
environmental laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s bylaws provide that the Registrant shall indemnify its directors to the
fullest extent permitted by Section&nbsp;145 of the Delaware Law against liabilities and expenses
referred to in Section&nbsp;145 incurred in such person&#146;s capacity as a director, officer, employee or
agent of the Registrant or as a director, officer, employee or agent of any other company or
enterprise to which the person provides services at the request of the Registrant. The bylaws also
require the Registrant to advance expenses, upon receipt by the Registrant of an undertaking by the
director to repay such advances if it is ultimately determined that the he or she is not entitled
to indemnification, unless the director commenced the suit as a plaintiff and such advance is not
specifically approved by a majority of the Registrant&#146;s Board of Directors, or the suit is brought
against the director by the Registrant and approved by a majority of the Registrant&#146;s Board of
Directors alleging willful misappropriation of corporate assets, disclosure of confidential
information or any other willful breach of duty in bad faith. The bylaws further provide that
rights conferred under such bylaws shall not be deemed to be exclusive of any other right such
indemnified persons may have under any bylaw, agreement, vote of stockholders or disinterested
directors or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, the Registrant has entered into indemnification agreements with each of its
directors and certain of its officers. These agreements, among other things, provide the
Registrant&#146;s directors and certain of its officers with indemnification for certain liabilities and
expenses reasonably incurred by such persons in any action or proceeding, including any action by
or in the right of the Registrant, on account of services as a director or officer of the
Registrant or as a director or officer of any other company or enterprise to which the person
provides services at the request of the Registrant. The Registrant also maintains directors&#146; and
officers&#146; liability insurance covering its directors and officers.
</DIV>
<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;7. <U>Exemption from Registration Claimed</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<P align="center" style="font-size: 10pt">II-2
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;8. <U>Exhibits</U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="89%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Instruments Defining the Rights of Stockholders. Reference is made to the
Registrant&#146;s Registration Statement on Form&nbsp;8-A, together with the amendments
and exhibits thereto, which are incorporated herein by reference pursuant to
Item&nbsp;3(g) to this Registration Statement</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Instruments Defining the Rights of Stockholders. Reference is made to the
Registrant&#146;s Registration Statement on Form&nbsp;8-A, together with the amendments
and exhibits thereto, which are incorporated herein by reference pursuant to
Item&nbsp;3(h) to this Registration Statement.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Incorporation. Incorporated by reference to Exhibit&nbsp;3.1 to
the Registrant&#146;s Quarterly Report on Form&nbsp;10-Q for the quarterly period ended
September&nbsp;30, 2002 filed on November&nbsp;14, 2002 (File No.&nbsp;000-19291).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bylaws. Incorporated by reference to Exhibit&nbsp;3.2 to the Registrant&#146;s
Registration Statement on Form&nbsp;S-1 (File No.&nbsp;333-40629).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion and Consent of Dorsey &#038; Whitney LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Independent Registered Public Accounting Firm &#151; Grant Thornton LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Dorsey &#038; Whitney LLP is contained in Exhibit&nbsp;5.1 of this
Registration Statement.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney. Reference is made to pages II-5 and II-6 of this
Registration Statement.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CorVel Corporation Restated 1991 Employee Stock Purchase Plan.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;9. <U>Undertakings</U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">A.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned Registrant hereby undertakes: (1)&nbsp;to file, during any period in which offers
or sales are being made, a post-effective amendment to this Registration Statement (i)&nbsp;to
include any prospectus required by Section&nbsp;10(a)(3) of the 1933 Act, (ii)&nbsp;to reflect in the
prospectus any facts or events arising after the effective date of this Registration Statement
(or the most recent post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this Registration Statement,
and (iii)&nbsp;to include any material information with respect to the plan of distribution not
previously disclosed in this Registration Statement or any material change to such information
in this Registration Statement; <I>provided, however</I>, that clauses (1)(i) and (1)(ii) shall not
apply if the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the Commission by the
Registrant pursuant to Section&nbsp;13 or Section 15(d) of the 1934 Act that are incorporated by
reference in this Registration Statement; (2)&nbsp;that, for the purpose of determining any
liability under the 1933 Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial <I>bona fide </I>offering thereof; and (3)
to remove from registration by means of a post-effective amendment any of the securities being
registered which remain unsold at the termination of the Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">B.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the 1933 Act, each filing of the Registrant&#146;s annual report pursuant to Section 13(a) or
Section 15(d) of the 1934 Act that is incorporated by reference in this Registration Statement
shall be deemed to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I>
offering thereof.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">II-3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">C.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Insofar as indemnification for liabilities arising under the 1933 Act may be permitted to
directors, officers and controlling persons of the Registrant pursuant to the indemnification
provisions summarized in Item&nbsp;6 or otherwise, the Registrant has been advised that in the
opinion of the Commission such indemnification is against public policy as expressed in the
1933 Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the successful defense
of any action, suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the Registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the 1933 Act and will be governed by the final adjudication of such
issue.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">II-4
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the 1933 Act, the Registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused
this Registration Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Irvine, State of California on the 29th day of September, 2005.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>CORVEL CORPORATION<BR>
(Registrant)</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ V. Gordon Clemons
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">V. Gordon Clemons&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chairman of the Board, Chief Executive Officer<BR>
and President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>POWER OF ATTORNEY</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>KNOW ALL PERSONS BY THESE PRESENTS:</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That each of the undersigned officers and directors of the Registrant does hereby constitute
and appoint V. Gordon Clemons and Scott R. McCloud, and each of them, or their substitute or
substitutes, as his or her true and lawful attorneys-in-fact and agents, with full power and
authority to do any and all acts and things and to execute and file or cause to be filed any and
all instruments, documents or exhibits which said attorneys and agents, or either one of them,
determine may be necessary or advisable or required to enable said corporation to comply with the
1933 Act, and any rules or regulations or requirements of the Commission in connection with this
Registration Statement. Without limiting the generality of the foregoing power and authority, the
powers granted include the power and authority to sign the names of the undersigned officers and
directors in the capacities indicated below to this Registration Statement, to any and all
amendments, both pre-effective and post-effective, and supplements to this Registration Statement
and to any and all instruments, documents or exhibits filed as part of or in conjunction with this
Registration Statement or amendments or supplements thereof, with the powers of substitution and
revocation, and each of the undersigned hereby ratifies and confirms all that said attorneys and
agents, or either one of them, or their substitute or substitutes, shall lawfully do or cause to be
done by virtue hereof. This Power of Attorney may be signed in several counterparts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN WITNESS WHEREOF, </B>each of the undersigned has executed this Power of Attorney as of the
dates indicated below. Pursuant to the requirements of the 1933 Act, this Registration Statement
has been signed by the following persons in the capacities and on the dates indicated below.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">/s/ <I>V. Gordon Clemons</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board,
Chief Executive<br> Officer
and President (Principal
Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">September&nbsp;29, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
V. Gordon Clemons
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">/s/ <I>Scott R. McCloud</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer
(Principal Financial and
Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">September&nbsp;29, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Scott R. McCloud
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">II-5
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><I>/s/ Steven J. Hamerslag</I>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Steven J. Hamerslag
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">September&nbsp;29, 2005</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><I>/s/ Alan R. Hoops</I>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Alan R. Hoops
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">September&nbsp;29, 2005</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">/s/ <I>R. Judd Jessup</I>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
R. Judd Jessup
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">September&nbsp;29, 2005</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">/s/ <I>Jeffrey J. Michael</I>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Jeffrey J. Michael
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">September&nbsp;29, 2005</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">II-6
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>EXHIBIT INDEX</B></U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="89%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Instruments Defining the Rights of Stockholders. Reference is
made to the Registrant&#146;s Registration Statement on Form&nbsp;8-A,
together with the amendments and exhibits thereto, which are
incorporated herein by reference pursuant to Item&nbsp;3(g) to this
Registration Statement</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Instruments Defining the Rights of Stockholders. Reference is
made to the Registrant&#146;s Registration Statement on Form&nbsp;8-A,
together with the amendments and exhibits thereto, which are
incorporated herein by reference pursuant to Item&nbsp;3(h) to this
Registration Statement.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Incorporation. Incorporated by reference to
Exhibit&nbsp;3.1 to the Registrant&#146;s Quarterly Report on Form&nbsp;10-Q
for the quarterly period ended September&nbsp;30, 2002 filed on
November&nbsp;14, 2002 (File No.&nbsp;000-19291).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bylaws. Incorporated by reference to Exhibit&nbsp;3.2 to the
Registrant&#146;s Registration Statement on Form&nbsp;S-1 (File No.
333-40629).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion and Consent of Dorsey &#038; Whitney LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Independent Registered Public Accounting Firm -
Grant Thornton LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Dorsey &#038; Whitney LLP is contained in Exhibit&nbsp;5.1 of
this Registration Statement.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney. Reference is made to pages II-5 and II-6
of this Registration Statement.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CorVel Corporation Restated 1991 Employee Stock Purchase Plan.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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Corvel Corporation
Table of Contents
As filed with the Securities and Exchange Commission on September 30, 2005
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under
The Securities Act of 1933
CORVEL CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware
33-0282651
(State or Other Jurisdiction
of Incorporation or Organization)
(IRS Employer Identification No.)
2010 Main Street, Suite 600
Irvine, California 92614
(Address of Registrant's Principal Executive Offices) (Zip Code)
CORVEL CORPORATION
RESTATED 1991 EMPLOYEE STOCK PURCHASE PLAN
(Full Title of the Plan)
V. Gordon Clemons
President and Chief Executive Officer
CorVel Corporation
2010 Main Street, Suite 600, Irvine, CA 92614
(Name and Address of Agent for Service)
(949) 851-1473
(Telephone Number, Including Area Code, of Agent for Service)
with a copy to:
R. Patrick Arrington, Esq.
Parker A. Schweich, Esq.
Dorsey & Whitney LLP
38 Technology Drive
Irvine, CA 92618
(949) 932-3600
CALCULATION OF REGISTRATION FEE
Title of Securities
Amount to
Proposed Maximum
Proposed Maximum
Amount of
to be Registered
be Registered (1)
Offering Price per Share (2)
Aggregate Offering Price (2)
Registration Fee
Common Stock, $0.0001
par value, issuable
pursuant to CorVel
Corporation Restated
1991 Employee Stock
Purchase Plan
(including associated
preferred stock
purchase rights)
200,000 shares
$
23.10
$
4,620,000
$
543.77
(1)
This Registration Statement shall also cover any additional shares of the Registrant's common
stock that become issuable under the CorVel Corporation Restated 1991 Employee Stock Purchase
Plan (the "Plan"), by reason of any stock dividend, stock split, recapitalization or any other
similar transaction effected without the Registrant's receipt of consideration which results
in an increase in the number of outstanding shares of the Registrant's common stock.
(2)
Calculated solely for the purpose of this offering under Rules 457(h) and 457(c) of the
Securities Act of 1933, as amended (the "1933 Act"), on the basis of the average of the high
and low sales prices per share of the Registrant's common stock on September 23, 2005, as
reported on the Nasdaq National Market.
TABLE OF CONTENTS
PART II
Item 3. Incorporation of Documents by Reference
Item 4. Description of Securities
Item 5. Interests of Named Experts and Counsel
Item 6. Indemnification of Directors and Officers
Item 7. Exemption from Registration Claimed
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
EXHIBIT INDEX
EXHIBIT 5.1
EXHIBIT 23.1
EXHIBIT 99.1
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference
CorVel Corporation (the "Registrant") hereby incorporates by reference into this Registration
Statement the following documents filed with the Securities and Exchange Commission (the
"Commission"):
(a)
The Registrant's Annual Report on Form 10-K for the fiscal year ended March 31,
2005 filed with the Commission on August 2, 2005;
(b)
The Registrant's Current Report on Form 8-K filed with the Commission on June
30, 2005;
(c)
The Registrant's Current Report on Form 8-K filed with the Commission on July
5, 2005;
(d)
The Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30,
2005 filed with the Commission on August 15, 2005;
(e)
The Registrant's Current Report on Form 8-K filed with the Commission on August
22, 2005;
(f)
The Registrant's Amendment No. 1 to Quarterly Report on Form 10-Q/A for the
quarter ended June 30, 2005 filed with the Commission on September 23, 2005;
(g)
The description of the Registrant's common stock, par value $0.0001 per share,
contained in the Registrant's Registration Statement on Form 8-A, as filed with the
Commission on May 16, 1991 pursuant to Section 12 of the Securities Exchange Act of
1934 (the "1934 Act"), including Amendment No. 1 thereto filed on June 28, 1991 and any
other amendments or reports filed for the purpose of updating such description; and
(h)
The description of the Registrant's preferred stock purchase rights contained
in the Registrant's Registration Statement on Form 8-A, as filed with the Commission on
February 25, 1997 pursuant to Section 12 of the 1934 Act, including Amendment No. 1
thereto filed on May 24, 2002 and any other amendments or reports filed for the purpose
of updating such description.
All reports and definitive proxy or information statements filed pursuant to Sections 13(a),
13(c), 14 or 15(d) of the 1934 Act after the date of this Registration Statement and prior to the
filing of a post-effective amendment which indicates that all securities offered hereby have been
sold or which de-registers all securities then remaining unsold shall be deemed to be incorporated
by reference into this Registration Statement and to be a part hereof from the date of filing of
such documents. The Registrant expressly excludes from such incorporation information furnished
pursuant to Item 2.02 or Item 7.01 of any Current Report on Form 8-K. Any document or any
statement contained in a document incorporated or deemed to be incorporated by reference herein
shall be deemed to be modified or superseded for purposes of this Registration Statement to the
extent that a subsequently filed document or a statement contained herein or in any other
subsequently filed document which also is or is deemed to be incorporated by reference herein
modifies or supersedes such document or such statement. Any such document or statement so modified
or superseded shall not be deemed, except as so modified or superseded, to constitute a part of
this Registration Statement.
II-1
Table of Contents
Item 4.
Description of Securities
Not applicable.
Item 5.
Interests of Named Experts and Counsel
Not applicable.
Item 6.
Indemnification of Directors and Officers
Under Section 145 of the Delaware General Corporation Law, the Registrant can indemnify its
directors and officers against liabilities they may incur in such capacities, including liabilities
under the 1933 Act. The Registrant's certificate of incorporation provides that none of the
Registrant's directors shall be personally liable for monetary damages for breach of such
director's fiduciary duties to the Registrant or its stockholders. This provision does not
eliminate the duty of care, and, in appropriate circumstances, equitable remedies such as
injunctive or other forms of non-monetary relief will remain available under Delaware law. In
addition, each director will continue to be subject to liability for breach of the director's duty
of loyalty to the Registrant or its stockholders, for acts or omissions not in good faith or
involving intentional misconduct or knowing violations of law, for actions leading to improper
personal benefit to the director, and for payment of dividends or approval of stock repurchases or
redemptions that are unlawful under Delaware law. The provision also does not affect a director's
responsibilities under any other law, such as the federal securities laws or state or federal
environmental laws.
The Registrant's bylaws provide that the Registrant shall indemnify its directors to the
fullest extent permitted by Section 145 of the Delaware Law against liabilities and expenses
referred to in Section 145 incurred in such person's capacity as a director, officer, employee or
agent of the Registrant or as a director, officer, employee or agent of any other company or
enterprise to which the person provides services at the request of the Registrant. The bylaws also
require the Registrant to advance expenses, upon receipt by the Registrant of an undertaking by the
director to repay such advances if it is ultimately determined that the he or she is not entitled
to indemnification, unless the director commenced the suit as a plaintiff and such advance is not
specifically approved by a majority of the Registrant's Board of Directors, or the suit is brought
against the director by the Registrant and approved by a majority of the Registrant's Board of
Directors alleging willful misappropriation of corporate assets, disclosure of confidential
information or any other willful breach of duty in bad faith. The bylaws further provide that
rights conferred under such bylaws shall not be deemed to be exclusive of any other right such
indemnified persons may have under any bylaw, agreement, vote of stockholders or disinterested
directors or otherwise.
In addition, the Registrant has entered into indemnification agreements with each of its
directors and certain of its officers. These agreements, among other things, provide the
Registrant's directors and certain of its officers with indemnification for certain liabilities and
expenses reasonably incurred by such persons in any action or proceeding, including any action by
or in the right of the Registrant, on account of services as a director or officer of the
Registrant or as a director or officer of any other company or enterprise to which the person
provides services at the request of the Registrant. The Registrant also maintains directors' and
officers' liability insurance covering its directors and officers.
Item 7.
Exemption from Registration Claimed
Not applicable.
II-2
Table of Contents
Item 8.
Exhibits
Exhibit No.
Exhibit Description
4.1
Instruments Defining the Rights of Stockholders. Reference is made to the
Registrant's Registration Statement on Form 8-A, together with the amendments
and exhibits thereto, which are incorporated herein by reference pursuant to
Item 3(g) to this Registration Statement
4.2
Instruments Defining the Rights of Stockholders. Reference is made to the
Registrant's Registration Statement on Form 8-A, together with the amendments
and exhibits thereto, which are incorporated herein by reference pursuant to
Item 3(h) to this Registration Statement.
4.3
Certificate of Incorporation. Incorporated by reference to Exhibit 3.1 to
the Registrant's Quarterly Report on Form 10-Q for the quarterly period ended
September 30, 2002 filed on November 14, 2002 (File No. 000-19291).
4.4
Bylaws. Incorporated by reference to Exhibit 3.2 to the Registrant's
Registration Statement on Form S-1 (File No. 333-40629).
5.1
Opinion and Consent of Dorsey & Whitney LLP.
23.1
Consent of Independent Registered Public Accounting Firm — Grant Thornton LLP.
23.2
Consent of Dorsey & Whitney LLP is contained in Exhibit 5.1 of this
Registration Statement.
24.1
Power of Attorney. Reference is made to pages II-5 and II-6 of this
Registration Statement.
99.1
CorVel Corporation Restated 1991 Employee Stock Purchase Plan.
Item 9.
Undertakings
A.
The undersigned Registrant hereby undertakes: (1) to file, during any period in which offers
or sales are being made, a post-effective amendment to this Registration Statement (i) to
include any prospectus required by Section 10(a)(3) of the 1933 Act, (ii) to reflect in the
prospectus any facts or events arising after the effective date of this Registration Statement
(or the most recent post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this Registration Statement,
and (iii) to include any material information with respect to the plan of distribution not
previously disclosed in this Registration Statement or any material change to such information
in this Registration Statement;
provided, however
, that clauses (1)(i) and (1)(ii) shall not
apply if the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the Commission by the
Registrant pursuant to Section 13 or Section 15(d) of the 1934 Act that are incorporated by
reference in this Registration Statement; (2) that, for the purpose of determining any
liability under the 1933 Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial
bona fide
offering thereof; and (3)
to remove from registration by means of a post-effective amendment any of the securities being
registered which remain unsold at the termination of the Plan.
B.
The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the 1933 Act, each filing of the Registrant's annual report pursuant to Section 13(a) or
Section 15(d) of the 1934 Act that is incorporated by reference in this Registration Statement
shall be deemed to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
II-3
Table of Contents
C.
Insofar as indemnification for liabilities arising under the 1933 Act may be permitted to
directors, officers and controlling persons of the Registrant pursuant to the indemnification
provisions summarized in Item 6 or otherwise, the Registrant has been advised that in the
opinion of the Commission such indemnification is against public policy as expressed in the
1933 Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the successful defense
of any action, suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the Registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the 1933 Act and will be governed by the final adjudication of such
issue.
II-4
Table of Contents
SIGNATURES
Pursuant to the requirements of the 1933 Act, the Registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused
this Registration Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Irvine, State of California on the 29th day of September, 2005.
CORVEL CORPORATION
(Registrant)
By:
/s/ V. Gordon Clemons
V. Gordon Clemons
Chairman of the Board, Chief Executive Officer
and President
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS:
That each of the undersigned officers and directors of the Registrant does hereby constitute
and appoint V. Gordon Clemons and Scott R. McCloud, and each of them, or their substitute or
substitutes, as his or her true and lawful attorneys-in-fact and agents, with full power and
authority to do any and all acts and things and to execute and file or cause to be filed any and
all instruments, documents or exhibits which said attorneys and agents, or either one of them,
determine may be necessary or advisable or required to enable said corporation to comply with the
1933 Act, and any rules or regulations or requirements of the Commission in connection with this
Registration Statement. Without limiting the generality of the foregoing power and authority, the
powers granted include the power and authority to sign the names of the undersigned officers and
directors in the capacities indicated below to this Registration Statement, to any and all
amendments, both pre-effective and post-effective, and supplements to this Registration Statement
and to any and all instruments, documents or exhibits filed as part of or in conjunction with this
Registration Statement or amendments or supplements thereof, with the powers of substitution and
revocation, and each of the undersigned hereby ratifies and confirms all that said attorneys and
agents, or either one of them, or their substitute or substitutes, shall lawfully do or cause to be
done by virtue hereof. This Power of Attorney may be signed in several counterparts.
IN WITNESS WHEREOF,
each of the undersigned has executed this Power of Attorney as of the
dates indicated below. Pursuant to the requirements of the 1933 Act, this Registration Statement
has been signed by the following persons in the capacities and on the dates indicated below.
Signature
Title
Date
/s/
V. Gordon Clemons
Chairman of the Board,
Chief Executive
Officer
and President (Principal
Executive Officer)
September 29, 2005
V. Gordon Clemons
/s/
Scott R. McCloud
Chief Financial Officer
(Principal Financial and
Accounting Officer)
September 29, 2005
Scott R. McCloud
II-5
Table of Contents
Signature
Title
Date
/s/ Steven J. Hamerslag
Steven J. Hamerslag
Director
September 29, 2005
/s/ Alan R. Hoops
Alan R. Hoops
Director
September 29, 2005
/s/
R. Judd Jessup
R. Judd Jessup
Director
September 29, 2005
/s/
Jeffrey J. Michael
Jeffrey J. Michael
Director
September 29, 2005
II-6
Table of Contents
EXHIBIT INDEX
Exhibit No.
Exhibit Description
4.1
Instruments Defining the Rights of Stockholders. Reference is
made to the Registrant's Registration Statement on Form 8-A,
together with the amendments and exhibits thereto, which are
incorporated herein by reference pursuant to Item 3(g) to this
Registration Statement
4.2
Instruments Defining the Rights of Stockholders. Reference is
made to the Registrant's Registration Statement on Form 8-A,
together with the amendments and exhibits thereto, which are
incorporated herein by reference pursuant to Item 3(h) to this
Registration Statement.
4.3
Certificate of Incorporation. Incorporated by reference to
Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q
for the quarterly period ended September 30, 2002 filed on
November 14, 2002 (File No. 000-19291).
4.4
Bylaws. Incorporated by reference to Exhibit 3.2 to the
Registrant's Registration Statement on Form S-1 (File No.
333-40629).
5.1
Opinion and Consent of Dorsey & Whitney LLP.
23.1
Consent of Independent Registered Public Accounting Firm -
Grant Thornton LLP.
23.2
Consent of Dorsey & Whitney LLP is contained in Exhibit 5.1 of
this Registration Statement.
24.1
Power of Attorney. Reference is made to pages II-5 and II-6
of this Registration Statement.
99.1
CorVel Corporation Restated 1991 Employee Stock Purchase Plan.