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<P align="center" style="font-size: 10pt"><B>As filed with the Securities and Exchange Commission on January&nbsp;11, 2005</B>



<DIV align="right" style="font-size: 10pt"><B>Registration
No.&nbsp;333-<FONT face="wingdings">&#111;</FONT></B></DIV>



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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

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

<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000"></DIV>


<P align="center" style="font-size: 18pt"><B>FORM S-8</B>


<P align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000">



<P align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000"></DIV>


<P align="center" style="font-size: 24pt"><B>ELECTRIC CITY CORP.</B>


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






<DIV align="center">
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    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>36-4197337</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State of Other Jurisdiction of
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">Incorporation or Organization)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
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<P align="center" style="font-size: 10pt"><B>1280 Landmeier Road<BR>
Elk Grove Village, IL 60007-2410</B><BR>
(Address of Principal Executive Offices) (Zip Code)


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000"></DIV>



<P align="center" style="font-size: 10pt"><B>2001 Stock Incentive Plan</B>



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000">



<P align="center" style="font-size: 10pt"><B>Jeffrey R. Mistarz<BR>
Chief Financial Officer and Treasurer<BR>
Electric City Corp.<BR>
1280 Landmeier Road<BR>
Elk Grove Village, Illinois, 60007<BR>
(847)&nbsp;437-1666</B><BR>
(Name, Address, and Telephone Number, including Area Code, of Agent for Service)



<P align="center" style="font-size: 10pt"><B>Copies to:<BR>
Andrew H. Connor<BR>
Schwartz Cooper Greenberger &#038; Krauss, Chtd.<BR>
180 N. LaSalle Street, Suite&nbsp;2700<BR>
Chicago, Illinois 60601<BR>
(312)&nbsp;346-1300</B>



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<P align="center" style="font-size: 10pt">&nbsp;
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<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


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<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Title of Each Class of</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount To</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Offering Price</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Aggregate Offering</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount of</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Securities to be Registered</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Be Registered (1)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Per Share (2)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Price (2)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Registration Fee</TD>
    <TD>&nbsp;</TD>
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    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par value $0.0001</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,800,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1.17</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,276,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">386</TD>
    <TD>&nbsp;</TD>
</TR>
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    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD colspan="17" align="left"><HR size="4" noshade width="100%" align="center" color="#000000"></TD>
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</DIV>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)&nbsp;&nbsp;</TD>
    <TD>In the event of a stock split, stock dividend or similar transaction involving the common
stock of the registrant, in order to prevent dilution, the number of shares of common stock
registered hereby shall be automatically adjusted to cover the additional shares of common
stock in accordance with Rule&nbsp;416 under the Securities Act of 1933, as amended.</TD>
</TR>

</TABLE>


<P>
<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)&nbsp;&nbsp;</TD>
    <TD>Estimated in accordance with Rule 457(c) under the Securities Act of 1933, as amended, solely
for the purpose of calculating the registration fee based on the average of the high and low
sale prices of the common stock of Electric City Corp. reported on the American Stock Exchange
on January&nbsp;7, 2005.</TD>
</TR>

</TABLE>


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




<P align="center" style="font-size: 10pt">&nbsp;
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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</TR>
<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001"> Item&nbsp;1. Plan Information</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002"> Item&nbsp;2. Registrant Information and Employee Plan Annual Information</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005"> Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006"> Item&nbsp;5. Interests of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007"> Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#009">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#010">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011"> SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012"> INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="c90830exv5w1.htm">Opinion of Schwartz Cooper Greenberger & Krauss, Chtd.</A></TD></TR>
<TR><TD colspan="9"><A HREF="c90830exv23w1.htm">Consent of BDO Seidman, LLP</A></TD></TR>
</TABLE>
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<DIV align="left"><A NAME="000"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART I</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>


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<DIV align="left"><A NAME="001"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;1. Plan Information.*</B>


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<DIV align="left"><A NAME="002"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;2. Registrant Information and Employee Plan Annual Information.*</B>




<P align="left" style="margin-left:3%; font-size: 10pt">* Information Required by Part&nbsp;I of Form S-8. The document(s) setting forth the information
specified in Part&nbsp;I of this Form S-8 will be sent or given to participants in the Plan as
specified by Rule&nbsp;428(b)(1) of the Securities Act of 1933, as amended (the &#147;Securities
Act&#148;). These documents and the documents incorporated by reference into this Form S-8
pursuant to Item&nbsp;3 of Part&nbsp;II of this Registration Statement, taken together, constitute a
prospectus that meets the requirements of Section 10(a) of the Securities Act and are on
file at Registrant&#146;s principal executive offices and available, without charge, upon written
request to: Secretary, Electric City Corp., 1280 Landmeier Road, Elk Grove Village, IL
60007-2410

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<DIV align="left"><A NAME="003"></A></DIV>

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



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>


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<DIV align="left"><A NAME="004"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;3. Incorporation of Documents by Reference</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents and information previously filed by Electric City Corp. (the
&#147;Registrant&#148;) with the Securities and Exchange Commission (the &#147;Commission&#148;) are hereby
incorporated by reference in this registration statement:


<P>
<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="4%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>The Registrant&#146;s Annual Report on Form 10-KSB for the year ended December&nbsp;31,
2003, filed with the Commission on March&nbsp;29, 2004;</TD>
</TR>

</TABLE>


<P>
<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="4%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>The Registrant&#146;s Quarterly Report on Form 10-Q for the three month and nine
month periods ended September&nbsp;30, 2004, filed with the Commission on November&nbsp;15, 2004;</TD>
</TR>

</TABLE>


<P>
<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="4%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>The Registrant&#146;s Quarterly Report on Form 10-Q for the three month and six
month periods ended June&nbsp;30, 2004, filed with the Commission on August&nbsp;16, 2004;</TD>
</TR>

</TABLE>


<P>
<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="4%" nowrap align="left">(d)&nbsp;&nbsp;</TD>
    <TD>The Registrant&#146;s Quarterly Report on Form 10-Q for the three month period ended
March&nbsp;31, 2004, filed with the Commission on May&nbsp;13, 2004; and</TD>
</TR>

</TABLE>


<P>
<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="4%" nowrap align="left">(e)&nbsp;&nbsp;</TD>
    <TD>The description of the Registrant&#146;s common stock contained in the Registrant&#146;s
Registration Statement on Form S-1, filed with the Commission on May&nbsp;1, 2004.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all documents subsequently filed by the Registrant pursuant to Sections&nbsp;13(a),
13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement
and to be part hereof from the date of filing of such documents.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained herein or in a document incorporated or deemed to be incorporated
herein by reference shall be deemed to be modified or superseded for purposes of this Registration


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<P align="left" style="font-size: 10pt">Statement to the extent that a statement contained herein or in any subsequently filed document
pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Exchange Act which also is incorporated or
is deemed to be incorporated herein by reference modifies or supersedes such prior statement. Any
statement so modified or superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this Registration Statement.


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<DIV align="left"><A NAME="005"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;4. Description of Securities.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

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<DIV align="left"><A NAME="006"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

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<DIV align="left"><A NAME="007"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsection (a)&nbsp;of Section&nbsp;145 of the Delaware General Corporation Law empowers a corporation
to indemnify any person who was or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative or investigative
(other than an action by or in the right of the corporation) by reason of the fact that he or she
is or was a director, officer, employee or agent of the corporation, or is or was serving at the
request of the corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, against expenses (including attorneys&#146;
fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him or
her in connection with such action, suit or proceeding if he or she acted in good faith and in a
manner he or she reasonably believed to be in or not opposed to the best interests of the
corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to
believe his or her conduct was unlawful.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsection (b)&nbsp;of Section&nbsp;145 empowers a corporation to indemnify any person who was or is a
party or is threatened to be made a party to any threatened, pending or completed action or suit by
or in the right of the corporation to procure a judgment in its favor by reason of the fact that he
or she is or was a director, officer, employee or agent of the corporation, or is or was serving at
the request of the corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, against expenses (including attorneys&#146; fees)
actually and reasonably incurred by him or her in connection with the defense or settlement of such
action or suit if he or she acted in good faith and in a manner he or she reasonably believed to be
in or not opposed to the best interests of the corporation and except that no indemnification shall
be made in respect of any claim, issue or matter as to which such person shall have been adjudged
to be liable to the corporation unless and only to the extent that the Court of Chancery or the
court in which such action or suit was brought shall determine upon application that, despite the
adjudication of liability but in view of all of the circumstances of the case, such person is
fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such
other court shall deem proper.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 further provides that to the extent a director or officer of a corporation has
been successful in the defense of any action, suit or proceeding referred to in subsection (a)&nbsp;and
(b)&nbsp;or in the defense of any claim, issue or matter therein, he or she shall be indemnified against
expenses (including attorneys&#146; fees) actually and reasonably incurred by him or her in connection
therewith; that the indemnification provided by Section&nbsp;145 shall not be deemed exclusive of any
other rights to which the indemnified party may be entitled; and that the scope of indemnification
extends to directors, officers,


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">employees, or agents of a constituent corporation absorbed in a consolidation or merger and persons
serving in that capacity at the request of the constituent corporation for another. Section&nbsp;145
also empowers a corporation to purchase and maintain insurance on behalf of a director or officer
of the corporation against any liability asserted against him or her or incurred by him or her in
any such capacity or arising out of his or her status as such whether or not the corporation would
have the power to indemnify him or her against such liabilities under Section&nbsp;145.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VIII of Electric City&#146;s By-laws specifies that Electric City shall indemnify its
directors, officers, employees and agents to the full extent that such right of indemnity is
permitted by law. This provision of the By-laws is deemed to be a contract between Electric City
and each director and officer who serves in such capacity at any time while such provision and the
relevant provisions of the Delaware General Corporation Law are in effect, and any repeal or
modification thereof shall not offset any right to indemnification in respect of action, suit or
proceeding theretofore or thereafter brought or threatened based in whole or in part upon any such
state of facts. The amendment or repeal of such provision of the By-Laws may be effected by the
affirmative vote of the holders of a majority in interest of all outstanding capital stock of
Electric City entitled to vote, in person or by proxy, at any annual or special meeting in which a
quorum is present. The By-Laws may also be amended, adopted or repealed in whole or in part by
actions of the majority of the whole board of directors. In certain circumstances, 75% of the
voting power of all outstanding shares of the Series&nbsp;E Convertible Preferred Stock of Electric City
is also required to approve any amendment of the By-Laws.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Electric City has executed indemnification agreements with certain officers pursuant to which
Electric City has agreed to indemnify such parties to the full extent permitted by law, subject to
certain exceptions, if they become subject to an action because of serving as a director, officer,
employee, agent or fiduciary of Electric City.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;102(b)(7) of the Delaware General Corporation Law enables a corporation in its
certificate of incorporation to limit the personal liability of members of its board of directors
for violation of a director&#146;s fiduciary duty of care. This section does not, however, limit the
liability of a director for breaching his or her duty of loyalty, failing to act in good faith,
engaging in intentional misconduct or knowingly violating a law, authorizing unlawful payments of
dividends or unlawful redemptions or stock purchases as contemplated by Section&nbsp;174 of Delaware
General Corporation Law, or from any transaction in which the director derived an improper personal
benefit. This section also will have no effect on claims arising under the federal securities laws.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Electric City&#146;s Certificate of Incorporation, as amended, limits the liability of its
directors as authorized by Section&nbsp;102(b)(7). The affirmative vote of the holders of a majority of
the voting power of all outstanding shares of the capital stock of Electric City, and, in certain
circumstances, 75% of the voting power of all outstanding shares of the Series&nbsp;E Convertible
Preferred Stock of Electric City, is required to amend such provisions.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Electric City has obtained liability insurance for the benefit of its directors and officers
which provides coverage for losses of directors and officers for liabilities arising out of claims
against such persons acting as directors or officers of Electric City (or any subsidiary thereof)
due to any breach of duty, neglect, error, misstatement, misleading statement, omission or act done
by such directors and officers, except as prohibited by law.

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<DIV align="left"><A NAME="008"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="center" style="font-size: 10pt">- 3 -
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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="009"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;8. Exhibits.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See the attached Exhibit&nbsp;Index

<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="010"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;9. Undertakings</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned registrant hereby will



<P align="left" style="margin-left:6%; font-size: 10pt">(1)&nbsp;File, during any period in which it offers or sells securities, a post-effective
amendment to this registration statement to:



<P align="left" style="margin-left:9%; font-size: 10pt">(i)&nbsp;Include any prospectus required by Section&nbsp;10(a)(3) of the Securities
Act;



<P align="left" style="margin-left:9%; font-size: 10pt">(ii)&nbsp;Reflect in the prospectus any facts or events which, individually or
together, represent a fundamental change in the information in the
registration statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and
price represent no more than 20&nbsp;percent change in the maximum aggregate
offering price set forth in the &#147;Calculation of Registration Fee&#148; table in
the effective registration statement; and



<P align="left" style="margin-left:9%; font-size: 10pt">(iii)&nbsp;Include any additional or changed material information on the plan of
distribution.



<P align="left" style="margin-left:6%; font-size: 10pt"><U>provided, however,</U> that paragraphs (a)(1)(i) and (a)(1)(ii) do 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 Exchange
Act that are incorporated by reference in this registration statement.



<P align="left" style="margin-left:6%; font-size: 10pt">(2)&nbsp;For determining liability under the Securities Act, treat each such
post-effective amendment as a new registration statement of securities offered
therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering; and



<P align="left" style="margin-left:6%; font-size: 10pt">(3)&nbsp;File a post-effective amendment to remove from registration any of the
securities that remain unsold at the end of the offering.



<P align="left" style="margin-left:3%; font-size: 10pt">(b)&nbsp;The undersigned registrant undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Company&#146;s annual report pursuant to Section
13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an
employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in the 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.


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

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


<P align="left" style="margin-left:3%; font-size: 10pt">(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of
the Securities and Exchange Commission such indemnification is against public policy as
expressed in such Securities Act and is, therefore, unenforceable. In the event a claim
against the registrant 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 Securities
Act and will be governed by the final adjudication of such issue.


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

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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 " SIGNATURES" -->
<DIV align="left"><A NAME="011"></A></DIV>

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



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, 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 Elk Grove Village, State of Illinois, on
the 11th day of January, 2005.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left"><B>ELECTRIC CITY CORP.</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><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="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ John Mitola</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">John Mitola</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">- 6 -
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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby constitutes and appoints John Mitola and Jeffrey Mistarz, and each of
them, as his true and lawful attorneys-in-fact and agents, jointly and severally, with full power
of substitution and resubstitution, for and in his stead, in any and all capacities, to sign on his
behalf this Registration Statement on Form S-8 in connection with the registration of Common Stock
by the registrant and offering thereof pursuant hereto and to execute any amendments thereto
(including post-effective amendments), including a registration statement filed pursuant to Rule
462(b), or certificates that may be required in connection with this Registration Statement, and to
file the same, with all exhibits thereto, and all other documents in connection therewith, with the
Securities and Exchange Commission and granting unto said attorneys-in-fact and agents, and each of
them, jointly and severally, the full power and authority to do and perform each and every act and
thing necessary or advisable to all intents and purposes as he might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, or any of them, jointly or
severally, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities below.

<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="2%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Title</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Date</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ John P. Mitola
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;30, 2004</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><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="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">John P. Mitola</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><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="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Jeffrey Mistarz
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">and Treasurer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;30, 2004</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><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="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jeffrey Mistarz</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><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="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Robert Manning
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;30, 2004</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><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="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert Manning</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><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="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ David Asplund
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;30, 2004</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><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="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">David Asplund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><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="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ John Bukovski
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;30, 2004</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><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="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">John Bukovski</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><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="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Gerald Pientka
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;30, 2004</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><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="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Gerald Pientka</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><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="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Michael Stelter
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;30, 2004</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><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="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Michael Stelter</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><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="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ David Valentine
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;30, 2004</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><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="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">David Valentine</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><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="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Robert Wagner
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December&nbsp;30, 2004</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><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="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert Wagner, Jr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">- 7 -
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<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 " INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="012"></A></DIV>

<P align="center" style="font-size: 10pt"><B>INDEX TO EXHIBITS</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>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">Certificate of Incorporation of Electric City Corp. (incorporated
by reference to the Registrant&#146;s Registration Statement on Form
10SB, filed with the Commission on September&nbsp;9, 1999 (No.
000-2791)).</TD>
</TR>
<TR valign="bottom">
    <TD 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">Amended and Restated By-Laws of Electric City Corp. (incorporated
by reference to the Registrant&#146;s Annual Report on Form&nbsp;10-KSB,
filed with the Commission on April&nbsp;15, 2002 (No.&nbsp;000-2791)).</TD>
</TR>
<TR valign="bottom">
    <TD 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">Electric City Corp.&#146;s 2001 Stock Incentive Plan (incorporated by
reference to the Registrant&#146;s definitive Proxy Statement for the
2000 Annual Meeting of Stockholders, filed with the Commission on
August&nbsp;14, 2001 (No.&nbsp;000-2791)).</TD>
</TR>
<TR valign="bottom">
    <TD 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">Certificate of Amendment to Certificate of Incorporation dated
August&nbsp;30, 2001 (incorporated by reference to the Registrant&#146;s
Registration Statement on Form&nbsp;SB-2, filed with the Commission on
November&nbsp;14, 2003 (No.&nbsp;333-109835))</TD>
</TR>
<TR valign="bottom">
    <TD 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">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment to Certificate of Incorporation dated
July&nbsp;31, 2002 (incorporated by reference to the Registrant&#146;s
Registration Statement on Form&nbsp;SB-2, filed with the Commission on
November&nbsp;14, 2003 (No.&nbsp;333-109835))</TD>
</TR>
<TR valign="bottom">
    <TD 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">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Designations, Preferences and Relative,
Participating, Optional and Other Special Rights of Preferred
Stock and Qualifications, Limitations and Restrictions Thereof of
Series&nbsp;A Convertible Preferred Stock of Electric City Corp. dated
August&nbsp;30, 2001(incorporated by reference to the Registrant&#146;s
Amendment No.&nbsp;1 to the Registration Statement on Form&nbsp;SB-2, filed
with the Commission on September&nbsp;27, 2001 (No.&nbsp;333-67642))</TD>
</TR>
<TR valign="bottom">
    <TD 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">4.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Designation of the Relative Rights and Preferences
of the Series&nbsp;B Convertible Preferred Stock of Electric City Corp.
(incorporated by reference to the Registrant&#146;s Current Report on
Form&nbsp;8-K dated October&nbsp;17, 2000 filed with the Commission on
November&nbsp;30, 2000 (No.&nbsp;0-2791))</TD>
</TR>
<TR valign="bottom">
    <TD 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">4.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Designations, Preferences and Relative,
Participating, Optional and Other Special Rights of Preferred
Stock and Qualifications, Limitations and Restrictions Thereof of
Series&nbsp;C Convertible Preferred Stock of Electric City Corp. dated
June&nbsp;3, 2002 (incorporated by reference to the Registrant&#146;s
Post-Effective Amendment No.&nbsp;3 to Registration Statement on Form
SB-2 filed with the Commission on July&nbsp;16, 2002 (No.&nbsp;333-67642))</TD>
</TR>
<TR valign="bottom">
    <TD 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">4.9
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Correction Filed to Correct a Certain Error in the
Certificate of Designations, Preferences and Relative,
Participating, Optional and Other Special Rights of Preferred
Stock and Qualifications, Limitations and Restrictions Thereof of
Series&nbsp;C Convertible Preferred Stock of Electric City Corp. dated
June&nbsp;11, 2002 (incorporated by reference to the Registrant&#146;s
Post-Effective Amendment No.&nbsp;3 to Registration Statement on Form
SB-2 filed with the Commission on July&nbsp;16, 2002 (No.&nbsp;333-67642))</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">- 8 -
</DIV>

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<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="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>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">4.10&nbsp;&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate Of Designations, Preferences And Relative,
Participating, Optional And Other Special Rights Of Preferred
Stock And Qualifications, Limitations And Restrictions Thereof Of
Series&nbsp;D Convertible Preferred Stock Of Electric City Corp.
(incorporated by reference to the Registrant&#146;s Current Report on
Form&nbsp;8-K dated June&nbsp;27, 2003 filed with the Commission on July&nbsp;3,
2003 (No.&nbsp;0-2791))</TD>
</TR>
<TR valign="bottom">
    <TD 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">4.11&nbsp;&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate Of Designations, Preferences And Relative,
Participating, Optional And Other Special Rights Of Preferred
Stock And Qualifications, Limitations
And Restrictions Thereof Of Series&nbsp;E Convertible Preferred Stock
Of Electric City Corp. (incorporated by reference to the
Registrant&#146;s Current Report on Form&nbsp;8-K dated March&nbsp;19, 2004 filed
with the Commission on March&nbsp;23, 2004 (No.&nbsp;0-2791))</TD>
</TR>
<TR valign="bottom">
    <TD 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*&nbsp;&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Schwartz Cooper Greenberger &#038; Krauss, Chtd. with
respect to the legality of the Common Stock being registered.</TD>
</TR>
<TR valign="bottom">
    <TD 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 BDO Seidman, LLP.</TD>
</TR>
<TR valign="bottom">
    <TD 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 Schwartz Cooper Greenberger &#038; Krauss, Chtd. (contained
in exhibit 5.1).</TD>
</TR>
<TR valign="bottom">
    <TD 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 (included on the signature page hereof).</TD>
</TR>
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</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">* Filed herewith




<P align="center" style="font-size: 10pt">- 9 -
</DIV>


</BODY>
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sv8
Table of Contents
As filed with the Securities and Exchange Commission on January 11, 2005
Registration
No. 333-
o
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ELECTRIC CITY CORP.
(Exact Name of Registrant as Specified in its Charter)
Delaware
36-4197337
(State of Other Jurisdiction of
(I.R.S. Employer Identification No.)
Incorporation or Organization)
1280 Landmeier Road
Elk Grove Village, IL 60007-2410
(Address of Principal Executive Offices) (Zip Code)
2001 Stock Incentive Plan
Jeffrey R. Mistarz
Chief Financial Officer and Treasurer
Electric City Corp.
1280 Landmeier Road
Elk Grove Village, Illinois, 60007
(847) 437-1666
(Name, Address, and Telephone Number, including Area Code, of Agent for Service)
Copies to:
Andrew H. Connor
Schwartz Cooper Greenberger & Krauss, Chtd.
180 N. LaSalle Street, Suite 2700
Chicago, Illinois 60601
(312) 346-1300
- i -
Table of Contents
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Title of Each Class of
Amount To
Offering Price
Aggregate Offering
Amount of
Securities to be Registered
Be Registered (1)
Per Share (2)
Price (2)
Registration Fee
Common Stock, par value $0.0001
2,800,000
$
1.17
$
3,276,000
$
386
(1)
In the event of a stock split, stock dividend or similar transaction involving the common
stock of the registrant, in order to prevent dilution, the number of shares of common stock
registered hereby shall be automatically adjusted to cover the additional shares of common
stock in accordance with Rule 416 under the Securities Act of 1933, as amended.
(2)
Estimated in accordance with Rule 457(c) under the Securities Act of 1933, as amended, solely
for the purpose of calculating the registration fee based on the average of the high and low
sale prices of the common stock of Electric City Corp. reported on the American Stock Exchange
on January 7, 2005.
- i -
TABLE OF CONTENTS
PART I
Item 1. Plan Information
Item 2. Registrant Information and Employee Plan Annual Information
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
INDEX TO EXHIBITS
Opinion of Schwartz Cooper Greenberger & Krauss, Chtd.
Consent of BDO Seidman, LLP
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1. Plan Information.*
Item 2. Registrant Information and Employee Plan Annual Information.*
* Information Required by Part I of Form S-8. The document(s) setting forth the information
specified in Part I of this Form S-8 will be sent or given to participants in the Plan as
specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the "Securities
Act"). These documents and the documents incorporated by reference into this Form S-8
pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a
prospectus that meets the requirements of Section 10(a) of the Securities Act and are on
file at Registrant's principal executive offices and available, without charge, upon written
request to: Secretary, Electric City Corp., 1280 Landmeier Road, Elk Grove Village, IL
60007-2410
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
The following documents and information previously filed by Electric City Corp. (the
"Registrant") with the Securities and Exchange Commission (the "Commission") are hereby
incorporated by reference in this registration statement:
(a)
The Registrant's Annual Report on Form 10-KSB for the year ended December 31,
2003, filed with the Commission on March 29, 2004;
(b)
The Registrant's Quarterly Report on Form 10-Q for the three month and nine
month periods ended September 30, 2004, filed with the Commission on November 15, 2004;
(c)
The Registrant's Quarterly Report on Form 10-Q for the three month and six
month periods ended June 30, 2004, filed with the Commission on August 16, 2004;
(d)
The Registrant's Quarterly Report on Form 10-Q for the three month period ended
March 31, 2004, filed with the Commission on May 13, 2004; and
(e)
The description of the Registrant's common stock contained in the Registrant's
Registration Statement on Form S-1, filed with the Commission on May 1, 2004.
In addition, all documents subsequently filed by the Registrant pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement
and to be part hereof from the date of filing of such documents.
Any statement contained herein or in a document incorporated or deemed to be incorporated
herein by reference shall be deemed to be modified or superseded for purposes of this Registration
- 1 -
Table of Contents
Statement to the extent that a statement contained herein or in any subsequently filed document
pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act which also is incorporated or
is deemed to be incorporated herein by reference modifies or supersedes such prior statement. Any
statement so modified or superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Subsection (a) of Section 145 of the Delaware General Corporation Law empowers a corporation
to indemnify any person who was or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative or investigative
(other than an action by or in the right of the corporation) by reason of the fact that he or she
is or was a director, officer, employee or agent of the corporation, or is or was serving at the
request of the corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, against expenses (including attorneys'
fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him or
her in connection with such action, suit or proceeding if he or she acted in good faith and in a
manner he or she reasonably believed to be in or not opposed to the best interests of the
corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to
believe his or her conduct was unlawful.
Subsection (b) of Section 145 empowers a corporation to indemnify any person who was or is a
party or is threatened to be made a party to any threatened, pending or completed action or suit by
or in the right of the corporation to procure a judgment in its favor by reason of the fact that he
or she is or was a director, officer, employee or agent of the corporation, or is or was serving at
the request of the corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees)
actually and reasonably incurred by him or her in connection with the defense or settlement of such
action or suit if he or she acted in good faith and in a manner he or she reasonably believed to be
in or not opposed to the best interests of the corporation and except that no indemnification shall
be made in respect of any claim, issue or matter as to which such person shall have been adjudged
to be liable to the corporation unless and only to the extent that the Court of Chancery or the
court in which such action or suit was brought shall determine upon application that, despite the
adjudication of liability but in view of all of the circumstances of the case, such person is
fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such
other court shall deem proper.
Section 145 further provides that to the extent a director or officer of a corporation has
been successful in the defense of any action, suit or proceeding referred to in subsection (a) and
(b) or in the defense of any claim, issue or matter therein, he or she shall be indemnified against
expenses (including attorneys' fees) actually and reasonably incurred by him or her in connection
therewith; that the indemnification provided by Section 145 shall not be deemed exclusive of any
other rights to which the indemnified party may be entitled; and that the scope of indemnification
extends to directors, officers,
- 2 -
Table of Contents
employees, or agents of a constituent corporation absorbed in a consolidation or merger and persons
serving in that capacity at the request of the constituent corporation for another. Section 145
also empowers a corporation to purchase and maintain insurance on behalf of a director or officer
of the corporation against any liability asserted against him or her or incurred by him or her in
any such capacity or arising out of his or her status as such whether or not the corporation would
have the power to indemnify him or her against such liabilities under Section 145.
Article VIII of Electric City's By-laws specifies that Electric City shall indemnify its
directors, officers, employees and agents to the full extent that such right of indemnity is
permitted by law. This provision of the By-laws is deemed to be a contract between Electric City
and each director and officer who serves in such capacity at any time while such provision and the
relevant provisions of the Delaware General Corporation Law are in effect, and any repeal or
modification thereof shall not offset any right to indemnification in respect of action, suit or
proceeding theretofore or thereafter brought or threatened based in whole or in part upon any such
state of facts. The amendment or repeal of such provision of the By-Laws may be effected by the
affirmative vote of the holders of a majority in interest of all outstanding capital stock of
Electric City entitled to vote, in person or by proxy, at any annual or special meeting in which a
quorum is present. The By-Laws may also be amended, adopted or repealed in whole or in part by
actions of the majority of the whole board of directors. In certain circumstances, 75% of the
voting power of all outstanding shares of the Series E Convertible Preferred Stock of Electric City
is also required to approve any amendment of the By-Laws.
Electric City has executed indemnification agreements with certain officers pursuant to which
Electric City has agreed to indemnify such parties to the full extent permitted by law, subject to
certain exceptions, if they become subject to an action because of serving as a director, officer,
employee, agent or fiduciary of Electric City.
Section 102(b)(7) of the Delaware General Corporation Law enables a corporation in its
certificate of incorporation to limit the personal liability of members of its board of directors
for violation of a director's fiduciary duty of care. This section does not, however, limit the
liability of a director for breaching his or her duty of loyalty, failing to act in good faith,
engaging in intentional misconduct or knowingly violating a law, authorizing unlawful payments of
dividends or unlawful redemptions or stock purchases as contemplated by Section 174 of Delaware
General Corporation Law, or from any transaction in which the director derived an improper personal
benefit. This section also will have no effect on claims arising under the federal securities laws.
Electric City's Certificate of Incorporation, as amended, limits the liability of its
directors as authorized by Section 102(b)(7). The affirmative vote of the holders of a majority of
the voting power of all outstanding shares of the capital stock of Electric City, and, in certain
circumstances, 75% of the voting power of all outstanding shares of the Series E Convertible
Preferred Stock of Electric City, is required to amend such provisions.
Electric City has obtained liability insurance for the benefit of its directors and officers
which provides coverage for losses of directors and officers for liabilities arising out of claims
against such persons acting as directors or officers of Electric City (or any subsidiary thereof)
due to any breach of duty, neglect, error, misstatement, misleading statement, omission or act done
by such directors and officers, except as prohibited by law.
Item 7. Exemption from Registration Claimed.
Not applicable.
- 3 -
Table of Contents
Item 8. Exhibits.
See the attached Exhibit Index
Item 9. Undertakings
(a) The undersigned registrant hereby will
(1) File, during any period in which it offers or sells securities, a post-effective
amendment to this registration statement to:
(i) Include any prospectus required by Section 10(a)(3) of the Securities
Act;
(ii) Reflect in the prospectus any facts or events which, individually or
together, represent a fundamental change in the information in the
registration statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and
price represent no more than 20 percent change in the maximum aggregate
offering price set forth in the "Calculation of Registration Fee" table in
the effective registration statement; and
(iii) Include any additional or changed material information on the plan of
distribution.
provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) do 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 Exchange
Act that are incorporated by reference in this registration statement.
(2) For determining liability under the Securities Act, treat each such
post-effective amendment as a new registration statement of securities offered
therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering; and
(3) File a post-effective amendment to remove from registration any of the
securities that remain unsold at the end of the offering.
(b) The undersigned registrant undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Company's annual report pursuant to Section
13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in the 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.
- 4 -
Table of Contents
(c) Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of
the Securities and Exchange Commission such indemnification is against public policy as
expressed in such Securities Act and is, therefore, unenforceable. In the event a claim
against the registrant 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 Securities
Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, 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 Elk Grove Village, State of Illinois, on
the 11th day of January, 2005.
ELECTRIC CITY CORP.
By:
/s/ John Mitola
John Mitola
Chief Executive Officer
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POWER OF ATTORNEY
The undersigned hereby constitutes and appoints John Mitola and Jeffrey Mistarz, and each of
them, as his true and lawful attorneys-in-fact and agents, jointly and severally, with full power
of substitution and resubstitution, for and in his stead, in any and all capacities, to sign on his
behalf this Registration Statement on Form S-8 in connection with the registration of Common Stock
by the registrant and offering thereof pursuant hereto and to execute any amendments thereto
(including post-effective amendments), including a registration statement filed pursuant to Rule
462(b), or certificates that may be required in connection with this Registration Statement, and to
file the same, with all exhibits thereto, and all other documents in connection therewith, with the
Securities and Exchange Commission and granting unto said attorneys-in-fact and agents, and each of
them, jointly and severally, the full power and authority to do and perform each and every act and
thing necessary or advisable to all intents and purposes as he might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents, or any of them, jointly or
severally, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities below.
Signature
Title
Date
/s/ John P. Mitola
Chief Executive Officer
December 30, 2004
John P. Mitola
Chief Financial Officer
/s/ Jeffrey Mistarz
and Treasurer
December 30, 2004
Jeffrey Mistarz
/s/ Robert Manning
Chairman of the Board
December 30, 2004
Robert Manning
/s/ David Asplund
Director
December 30, 2004
David Asplund
/s/ John Bukovski
Director
December 30, 2004
John Bukovski
/s/ Gerald Pientka
Director
December 30, 2004
Gerald Pientka
/s/ Michael Stelter
Director
December 30, 2004
Michael Stelter
/s/ David Valentine
Director
December 30, 2004
David Valentine
/s/ Robert Wagner
Director
December 30, 2004
Robert Wagner, Jr.
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INDEX TO EXHIBITS
Exhibit
Number
Description
4.1
Certificate of Incorporation of Electric City Corp. (incorporated
by reference to the Registrant's Registration Statement on Form
10SB, filed with the Commission on September 9, 1999 (No.
000-2791)).
4.2
Amended and Restated By-Laws of Electric City Corp. (incorporated
by reference to the Registrant's Annual Report on Form 10-KSB,
filed with the Commission on April 15, 2002 (No. 000-2791)).
4.3
Electric City Corp.'s 2001 Stock Incentive Plan (incorporated by
reference to the Registrant's definitive Proxy Statement for the
2000 Annual Meeting of Stockholders, filed with the Commission on
August 14, 2001 (No. 000-2791)).
4.4
Certificate of Amendment to Certificate of Incorporation dated
August 30, 2001 (incorporated by reference to the Registrant's
Registration Statement on Form SB-2, filed with the Commission on
November 14, 2003 (No. 333-109835))
4.5
Certificate of Amendment to Certificate of Incorporation dated
July 31, 2002 (incorporated by reference to the Registrant's
Registration Statement on Form SB-2, filed with the Commission on
November 14, 2003 (No. 333-109835))
4.6
Certificate of Designations, Preferences and Relative,
Participating, Optional and Other Special Rights of Preferred
Stock and Qualifications, Limitations and Restrictions Thereof of
Series A Convertible Preferred Stock of Electric City Corp. dated
August 30, 2001(incorporated by reference to the Registrant's
Amendment No. 1 to the Registration Statement on Form SB-2, filed
with the Commission on September 27, 2001 (No. 333-67642))
4.7
Certificate of Designation of the Relative Rights and Preferences
of the Series B Convertible Preferred Stock of Electric City Corp.
(incorporated by reference to the Registrant's Current Report on
Form 8-K dated October 17, 2000 filed with the Commission on
November 30, 2000 (No. 0-2791))
4.8
Certificate of Designations, Preferences and Relative,
Participating, Optional and Other Special Rights of Preferred
Stock and Qualifications, Limitations and Restrictions Thereof of
Series C Convertible Preferred Stock of Electric City Corp. dated
June 3, 2002 (incorporated by reference to the Registrant's
Post-Effective Amendment No. 3 to Registration Statement on Form
SB-2 filed with the Commission on July 16, 2002 (No. 333-67642))
4.9
Certificate of Correction Filed to Correct a Certain Error in the
Certificate of Designations, Preferences and Relative,
Participating, Optional and Other Special Rights of Preferred
Stock and Qualifications, Limitations and Restrictions Thereof of
Series C Convertible Preferred Stock of Electric City Corp. dated
June 11, 2002 (incorporated by reference to the Registrant's
Post-Effective Amendment No. 3 to Registration Statement on Form
SB-2 filed with the Commission on July 16, 2002 (No. 333-67642))
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Exhibit
Number
Description
4.10
Certificate Of Designations, Preferences And Relative,
Participating, Optional And Other Special Rights Of Preferred
Stock And Qualifications, Limitations And Restrictions Thereof Of
Series D Convertible Preferred Stock Of Electric City Corp.
(incorporated by reference to the Registrant's Current Report on
Form 8-K dated June 27, 2003 filed with the Commission on July 3,
2003 (No. 0-2791))
4.11
Certificate Of Designations, Preferences And Relative,
Participating, Optional And Other Special Rights Of Preferred
Stock And Qualifications, Limitations
And Restrictions Thereof Of Series E Convertible Preferred Stock
Of Electric City Corp. (incorporated by reference to the
Registrant's Current Report on Form 8-K dated March 19, 2004 filed
with the Commission on March 23, 2004 (No. 0-2791))
5.1*
Opinion of Schwartz Cooper Greenberger & Krauss, Chtd. with
respect to the legality of the Common Stock being registered.
23.1*
Consent of BDO Seidman, LLP.
23.2*
Consent of Schwartz Cooper Greenberger & Krauss, Chtd. (contained
in exhibit 5.1).
24.1*
Power of Attorney (included on the signature page hereof).
* Filed herewith
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