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<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;23, 2008
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 0pt"><B>File No.&nbsp;333-</B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</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: 14pt; margin-top: 12pt"><B>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: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>

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

<DIV align="center" style="font-size: 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>MEDTRONIC, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</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="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Minnesota</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>41-0793183</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification Number)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>World Headquarters<BR>
710 Medtronic Parkway<BR>
Minneapolis, Minnesota 55432</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(Address, including zip code, of Principal Executive Offices)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Medtronic, Inc. 2008 Stock Award and Incentive Plan</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(Full title of the Plan)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><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%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Copy to:</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>James Nathan Spolar, Esq.</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Jeannemarie O&#146;Brien, Esq.</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Principal Legal Counsel and Assistant Secretary</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Wachtell, Lipton, Rosen &#038; Katz</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Medtronic, Inc.; World Headquarters</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>51 West 52nd Street</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>710 Medtronic Parkway</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>New York, New York 10019</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Minneapolis, Minnesota 55432</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Telephone: (212)&nbsp;403-1000</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Telephone: (763)&nbsp;514-4000</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Name, address and telephone number,</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">including area code, of agent for service)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 0%">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large
accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the
Exchange Act. (Check one):
</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="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Large accelerated filer <FONT face="Wingdings">&#254;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Accelerated filer <FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Non-accelerated filer <FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Smaller reporting company <FONT face="Wingdings">&#111;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>(Do not check if a smaller reporting company)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

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

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 0px">
    <TD width="1%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="top">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of Securities to be</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount to Be</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="top">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>registered</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Registered</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Offering Price Per Share</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Aggregate Offering Price</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Registration Fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="top">
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 1px solid #000000" align="center"><DIV style="margin-left:0px; text-indent:-0px">Common Stock, $0.10 par
value per
share, together
with the associated
Preferred Stock
Purchase Rights</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">50,000,000(1)</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">$51.98(2)</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000" NOWRAP>$2,598,750,000.00(2)</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" valign="top" style="border-top: 1px solid #000000">$102,130.88(2)</TD>
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<DIV style="margin-top: 3pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes an aggregate of 50,000,000 shares to be issued pursuant to the exercise of awards
under the Medtronic, Inc. 2008 Stock Award and Incentive Plan, including additional shares
that may become issuable in accordance with the adjustment and anti-dilution provisions of
such plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of determining the registration fee pursuant to Rule&nbsp;457(h),
based on the average of the high and low sales prices of the Common Stock as reported on the
New York Stock Exchange on September 22, 2008.</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"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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








<!--TOC-->
<!--/TOC-->




<!-- link1 "PART I INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>PART I&nbsp;&nbsp;INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;The documents constituting Part&nbsp;I of this Registration Statement will be sent or given to
participants in the Plan as specified by Rule&nbsp;428(b)(1) under the Securities Act of 1933, as
amended (the &#147;Securities Act&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;Upon written or oral request, Medtronic, Inc. (&#147;Medtronic&#148;) will provide, without charge,
the documents incorporated by reference in Item&nbsp;3 of Part&nbsp;II of this Registration Statement. The
documents are incorporated by reference in the Section 10(a) prospectus. Medtronic will also
provide, without charge, upon written or oral request, other documents required to be delivered to
employees pursuant to Rule&nbsp;428(b). Requests for the above-mentioned information should be directed
to the following address:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-left: 0%; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Relations Department<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic, Inc.<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 Medtronic Parkway<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minneapolis, Minnesota 55432<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(763)&nbsp;514-4000
</DIV>

<!-- link1 "PART II INFORMATION REQUIRED IN REGISTRATION STATEMENT" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>PART II&nbsp;&nbsp;INFORMATION REQUIRED IN REGISTRATION STATEMENT</B>
</DIV>

<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with (excluding documents furnished to) the Securities and
Exchange Commission (the &#147;Commission&#148;) pursuant to the Securities Exchange Act of 1934, as amended
(the &#147;Exchange Act&#148;) are hereby incorporated by reference into this Registration Statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;Medtronic&#146;s Annual Report on Form 10-K, for the fiscal year ended April&nbsp;25, 2008,
filed with the Commission on June&nbsp;24, 2008;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;All other reports filed (but not furnished) by Medtronic pursuant to Section 13(a) or
15(d) of the Exchange Act since April&nbsp;25, 2008;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;The description of Common Stock and the associated Preferred Stock Purchase Rights
contained in Amendment No.&nbsp;2 to the Registration Statement on Form&nbsp;S-4 (No.&nbsp;333-121239) filed
with the Commission on January&nbsp;10, 2005, under the heading &#147;Description of Capital Stock.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All other documents subsequently filed (excluding those furnished) by Medtronic pursuant to
Section&nbsp;13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective
amendment to this Registration Statement that indicates that all securities offered have been sold
or that deregisters all securities that remain unsold, shall be deemed to be incorporated by
reference herein and to be part hereof from the date of filing of such documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained in a document incorporated or deemed incorporated herein by reference
shall be deemed to be modified or superseded for the purpose of this Registration Statement to the
extent that a statement contained herein or in any subsequently filed document which also is, or is
deemed to be, incorporated herein by reference modifies or supersedes such statement. Any such
statement so modified or superseded shall not be deemed, except as so modified or superseded, to
constitute a part of this Registration Statement.
</DIV>
<!-- link2 "Item&nbsp;4. Description of Securities" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4.&nbsp;&nbsp;Description of Securities.</B>
</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" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5.&nbsp;&nbsp;Interests of Named Experts and Counsel.</B>
</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"><!-- Folio -->II-1<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers" -->

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Minnesota Statutes, Section&nbsp;302A.521, subd. 2, requires Medtronic to indemnify a person made
or threatened to be made a party to a proceeding by reason of the former or present official
capacity of the person with respect to Medtronic, against judgments, penalties, fines, settlements,
and reasonable expenses, including attorneys&#146; fees and disbursements, incurred by the person in
connection with the proceeding if certain statutory standards are met unless Medtronic amends its
articles of incorporation or bylaws to prohibit or condition such indemnification rights.&nbsp; In
addition, Section&nbsp;302A.521, subd. 3 requires payment by Medtronic, upon written request, of
reasonable expenses in advance of final disposition of the proceeding in certain circumstances
unless Medtronic amends its articles of incorporation or bylaws to prohibit or condition such
expense advancement rights.&nbsp; Under Section&nbsp;302A.521, subd. 4, Medtronic may amend its Restated
Articles of Incorporation or Bylaws to prohibit or condition such indemnification or expense
advancement rights. A decision as to required indemnification is made by a disinterested majority
of the Board of Directors present at a meeting at which a disinterested quorum is present, or by a
designated committee of the Board consisting of disinterested directors, by special legal counsel,
by the shareholders, or by a court.&nbsp; A director is disinterested if he or she is not a party to the
proceeding for which indemnification or expense advancement is at issue. Section&nbsp;302A.521 contains
detailed terms regarding such right of indemnification and reference is made thereto for a complete
statement of such indemnification rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic&#146;s Bylaws provide that Medtronic shall indemnify such persons for such expenses and
liabilities, in such manner, under such circumstances and to such extent permitted by Minnesota
Statutes, Section&nbsp;302A.521, as now enacted or hereafter amended, or as required or permitted by
other provisions of law.&nbsp; Under Section&nbsp;302A.521, subd. 2, indemnification will be available only
where an officer, director or employee can establish that he or she (i)&nbsp;has not been indemnified by
another organization with respect to the same acts or omissions; (ii)&nbsp;acted in good faith;
(iii)&nbsp;received no improper personal benefits; (iv)&nbsp;in the case of a criminal proceeding, had no
reasonable cause to believe the conduct was unlawful; and (v)&nbsp;reasonably believed the conduct was
in the best interests of the corporation or, in certain circumstances, reasonably believed that the
conduct was not opposed to the best interests of Medtronic.&nbsp; As permitted by Minnesota Statutes,
Section&nbsp;302A.521, Medtronic&#146;s Restated Articles of Incorporation provide that a director shall have
no personal liability to Medtronic or its shareholders for monetary damages for breach of his or
her fiduciary duty as a director, to the extent permitted by law, provided, however that
Medtronic&#146;s Restated Articles of Incorporation shall not eliminate or limit the liability of a
director (i)&nbsp;for any breach of the director&#146;s duty of loyalty to the corporation or its
shareholders; (ii)&nbsp;for acts or omissions not in good faith or that involve intentional misconduct
or a knowing violation of law, (iii)&nbsp;dividends or other distributions of corporate assets that are
in contravention of certain statutory or contractual restrictions, or in contravention of
Medtronic&#146;s Restated Articles of Incorporation or Bylaws; (iv)&nbsp;violations of certain Minnesota
securities laws; (v)&nbsp;for any transaction from which the director derived an improper personal
benefit; or (vi)&nbsp;for any act or omission occurring prior to the effective date of the applicable
provision of Medtronic&#146;s Restated Articles of Incorporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic has established a Directors and Officers Indemnification Trust, a copy of which has
been filed with the Commission.
</DIV>
<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
</DIV>
<!-- link2 "Item&nbsp;8. Exhibits" -->

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See Exhibit&nbsp;Index, which is incorporated here by reference.
</DIV>
<!-- link2 "Item&nbsp;9. Undertakings" -->

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;Medtronic hereby undertakes:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
</DIV>

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

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp; To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of
1933;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&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. 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% change in the maximum aggregate offering price set forth in the
&#147;Calculation of Registration Fee&#148; table in the effective registration statement; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&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;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>provided, however, </I>that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by Medtronic pursuant to section
13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in
this Registration Statement;
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act of 1933,
each such post-effective amendment shall be deemed to be a new registration statement relating
to the securities being offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;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 offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;Medtronic hereby undertakes that, for purposes of determining any liability under the
Securities Act of 1933, each filing of Medtronic&#146;s annual report pursuant to Section 13(a) or
Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Securities Exchange Act of
1934) 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.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of Medtronic pursuant to the foregoing
provisions, or otherwise, Medtronic has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by Medtronic of expenses incurred or paid by a director, officer or
controlling person of Medtronic 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, Medtronic 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 Act and will be governed by the
final adjudication of such issue.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(signatures on following page)
</DIV>



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



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "SIGNATURES" -->

<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 Securities Act of 1933, Medtronic 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 Minneapolis, Minnesota, on the 23rd day of September, 2008.
</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">MEDTRONIC, INC.<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/ William A. Hawkins
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">William A. Hawkins&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chairman and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed below by the following persons in the capacities and on the 23rd day of September,
2008.
</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="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ William A. Hawkins
</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">&nbsp;
</DIV></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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">William A. Hawkins</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">Chairman and Chief Executive 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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(principal executive officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</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="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Gary L. Ellis</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">&nbsp;
</DIV></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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Gary L. Ellis</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" nowrap>Senior Vice President and Chief Financial Officer (principal financial and accounting officer)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</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="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Richard H. Anderson*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap 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">David L. Calhoun*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap 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">Victor J. Dzau, M.D.*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap 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">William A. Hawkins*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap 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">Shirley Ann Jackson, Ph.D.*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap 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">James T. Lenehan*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Denise M. O&#146;Leary*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap 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">Kendall J. Powell*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap 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">Robert C. Pozen*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap 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">Jean-Pierre Rosso*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap 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">Jack W. Schuler*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">)</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD align="left" colspan="0">*</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Terrance L. Carlson, by signing his name hereto, does hereby sign this document on behalf of
each of the above named directors of the Registrant pursuant to powers of attorney duly executed by
such persons on the 23&nbsp;day of September, 2008.</TD>
</TR>

</TABLE>



<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">&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/ Terrance L. Carlson
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Terrance L. Carlson&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Senior Vice President, General Counsel <BR>
and Corporate Secretary, as
Attorney-in-Fact&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

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

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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


<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>

</TABLE>
<!-- link1 "EXHIBIT INDEX" -->

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

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


<DIV align="center" style="font-size: 10pt"><B>REGISTRATION STATEMENT ON FORM S-8</B></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="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>
<TR style="font-size: 10pt">
<TD>&nbsp;</TD></TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Medtronic Restated Articles of Incorporation (incorporated
by reference to Exhibit&nbsp;3.1 to the Registrant&#146;s Form&nbsp;10-Q
filed on September&nbsp;7, 2007)</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">3.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Medtronic Bylaws (incorporated by reference to Exhibit&nbsp;3.2
to the Registrant&#146;s Form&nbsp;10-K filed on June&nbsp;30, 2004)</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 of Counsel regarding the legality of the securities
being registered</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">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Medtronic, Inc. 2008 Stock Award and Incentive Plan
(incorporated by reference to Appendix A to the Registrant&#146;s
2008 Proxy Statement filed on July&nbsp;18, 2008)</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 Counsel (included in Exhibit&nbsp;5.1)</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 PricewaterhouseCoopers LLP, Independent
Registered Public Accounting Firm</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</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
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sv8
As filed with the Securities and Exchange Commission on September 23, 2008
File No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
MEDTRONIC, INC.
(Exact name of registrant as specified in its charter)
Minnesota
41-0793183
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification Number)
World Headquarters
710 Medtronic Parkway
Minneapolis, Minnesota 55432
(Address, including zip code, of Principal Executive Offices)
Medtronic, Inc. 2008 Stock Award and Incentive Plan
(Full title of the Plan)
Copy to:
James Nathan Spolar, Esq.
Jeannemarie O'Brien, Esq.
Principal Legal Counsel and Assistant Secretary
Wachtell, Lipton, Rosen & Katz
Medtronic, Inc.; World Headquarters
51 West 52nd Street
710 Medtronic Parkway
New York, New York 10019
Minneapolis, Minnesota 55432
Telephone: (212) 403-1000
Telephone: (763) 514-4000
(Name, address and telephone number,
including area code, of agent for service)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large
accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the
Exchange Act. (Check one):
Large accelerated filer
þ
Accelerated filer
o
Non-accelerated filer
o
Smaller reporting company
o
(Do not check if a smaller reporting company)
CALCULATION OF REGISTRATION FEE
Title of Securities to be
Amount to Be
Proposed Maximum
Proposed Maximum
Amount of
registered
Registered
Offering Price Per Share
Aggregate Offering Price
Registration Fee
Common Stock, $0.10 par
value per
share, together
with the associated
Preferred Stock
Purchase Rights
50,000,000(1)
$51.98(2)
$2,598,750,000.00(2)
$102,130.88(2)
(1)
Includes an aggregate of 50,000,000 shares to be issued pursuant to the exercise of awards
under the Medtronic, Inc. 2008 Stock Award and Incentive Plan, including additional shares
that may become issuable in accordance with the adjustment and anti-dilution provisions of
such plan.
(2)
Estimated solely for the purpose of determining the registration fee pursuant to Rule 457(h),
based on the average of the high and low sales prices of the Common Stock as reported on the
New York Stock Exchange on September 22, 2008.
PART I  INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
(a)  The documents constituting Part I of this Registration Statement will be sent or given to
participants in the Plan as specified by Rule 428(b)(1) under the Securities Act of 1933, as
amended (the "Securities Act").
(b)  Upon written or oral request, Medtronic, Inc. ("Medtronic") will provide, without charge,
the documents incorporated by reference in Item 3 of Part II of this Registration Statement. The
documents are incorporated by reference in the Section 10(a) prospectus. Medtronic will also
provide, without charge, upon written or oral request, other documents required to be delivered to
employees pursuant to Rule 428(b). Requests for the above-mentioned information should be directed
to the following address:
Investor Relations Department
Medtronic, Inc.
710 Medtronic Parkway
Minneapolis, Minnesota 55432
(763) 514-4000
PART II  INFORMATION REQUIRED IN REGISTRATION STATEMENT
Item 3.  Incorporation of Documents by Reference
The following documents filed with (excluding documents furnished to) the Securities and
Exchange Commission (the "Commission") pursuant to the Securities Exchange Act of 1934, as amended
(the "Exchange Act") are hereby incorporated by reference into this Registration Statement:
(1)  Medtronic's Annual Report on Form 10-K, for the fiscal year ended April 25, 2008,
filed with the Commission on June 24, 2008;
(2)  All other reports filed (but not furnished) by Medtronic pursuant to Section 13(a) or
15(d) of the Exchange Act since April 25, 2008;
(3)  The description of Common Stock and the associated Preferred Stock Purchase Rights
contained in Amendment No. 2 to the Registration Statement on Form S-4 (No. 333-121239) filed
with the Commission on January 10, 2005, under the heading "Description of Capital Stock."
All other documents subsequently filed (excluding those furnished) by Medtronic pursuant to
Section 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective
amendment to this Registration Statement that indicates that all securities offered have been sold
or that deregisters all securities that remain unsold, shall be deemed to be incorporated by
reference herein and to be part hereof from the date of filing of such documents.
Any statement contained in a document incorporated or deemed incorporated herein by reference
shall be deemed to be modified or superseded for the purpose of this Registration Statement to the
extent that a statement contained herein or in any subsequently filed document which also is, or is
deemed to be, incorporated herein by reference modifies or supersedes such statement. Any such
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.
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Item 6.  Indemnification of Directors and Officers
Minnesota Statutes, Section 302A.521, subd. 2, requires Medtronic to indemnify a person made
or threatened to be made a party to a proceeding by reason of the former or present official
capacity of the person with respect to Medtronic, against judgments, penalties, fines, settlements,
and reasonable expenses, including attorneys' fees and disbursements, incurred by the person in
connection with the proceeding if certain statutory standards are met unless Medtronic amends its
articles of incorporation or bylaws to prohibit or condition such indemnification rights.  In
addition, Section 302A.521, subd. 3 requires payment by Medtronic, upon written request, of
reasonable expenses in advance of final disposition of the proceeding in certain circumstances
unless Medtronic amends its articles of incorporation or bylaws to prohibit or condition such
expense advancement rights.  Under Section 302A.521, subd. 4, Medtronic may amend its Restated
Articles of Incorporation or Bylaws to prohibit or condition such indemnification or expense
advancement rights. A decision as to required indemnification is made by a disinterested majority
of the Board of Directors present at a meeting at which a disinterested quorum is present, or by a
designated committee of the Board consisting of disinterested directors, by special legal counsel,
by the shareholders, or by a court.  A director is disinterested if he or she is not a party to the
proceeding for which indemnification or expense advancement is at issue. Section 302A.521 contains
detailed terms regarding such right of indemnification and reference is made thereto for a complete
statement of such indemnification rights.
Medtronic's Bylaws provide that Medtronic shall indemnify such persons for such expenses and
liabilities, in such manner, under such circumstances and to such extent permitted by Minnesota
Statutes, Section 302A.521, as now enacted or hereafter amended, or as required or permitted by
other provisions of law.  Under Section 302A.521, subd. 2, indemnification will be available only
where an officer, director or employee can establish that he or she (i) has not been indemnified by
another organization with respect to the same acts or omissions; (ii) acted in good faith;
(iii) received no improper personal benefits; (iv) in the case of a criminal proceeding, had no
reasonable cause to believe the conduct was unlawful; and (v) reasonably believed the conduct was
in the best interests of the corporation or, in certain circumstances, reasonably believed that the
conduct was not opposed to the best interests of Medtronic.  As permitted by Minnesota Statutes,
Section 302A.521, Medtronic's Restated Articles of Incorporation provide that a director shall have
no personal liability to Medtronic or its shareholders for monetary damages for breach of his or
her fiduciary duty as a director, to the extent permitted by law, provided, however that
Medtronic's Restated Articles of Incorporation shall not eliminate or limit the liability of a
director (i) for any breach of the director's duty of loyalty to the corporation or its
shareholders; (ii) for acts or omissions not in good faith or that involve intentional misconduct
or a knowing violation of law, (iii) dividends or other distributions of corporate assets that are
in contravention of certain statutory or contractual restrictions, or in contravention of
Medtronic's Restated Articles of Incorporation or Bylaws; (iv) violations of certain Minnesota
securities laws; (v) for any transaction from which the director derived an improper personal
benefit; or (vi) for any act or omission occurring prior to the effective date of the applicable
provision of Medtronic's Restated Articles of Incorporation.
Medtronic has established a Directors and Officers Indemnification Trust, a copy of which has
been filed with the Commission.
Item 7.  Exemption from Registration Claimed.
Not Applicable.
Item 8.  Exhibits
See Exhibit Index, which is incorporated here by reference.
Item 9.  Undertakings
(a)  Medtronic hereby undertakes:
(1)  To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
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(i)   To include any prospectus required by Section 10(a)(3) of the Securities Act of
1933;
(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. 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% change in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the effective 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 paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by Medtronic pursuant to section
13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in
this Registration Statement;
(2)  That, for the purpose of determining any liability under the Securities Act of 1933,
each such post-effective amendment shall be deemed to be a new registration statement relating
to the securities being 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 offering.
(b)  Medtronic hereby undertakes that, for purposes of determining any liability under the
Securities Act of 1933, each filing of Medtronic's annual report pursuant to Section 13(a) or
Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of
1934) 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.
(c)  Insofar as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of Medtronic pursuant to the foregoing
provisions, or otherwise, Medtronic has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by Medtronic of expenses incurred or paid by a director, officer or
controlling person of Medtronic 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, Medtronic 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 Act and will be governed by the
final adjudication of such issue.
(signatures on following page)
II-3
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, Medtronic 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 Minneapolis, Minnesota, on the 23rd day of September, 2008.
MEDTRONIC, INC.
By:
/s/ William A. Hawkins
William A. Hawkins
Chairman and Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed below by the following persons in the capacities and on the 23rd day of September,
2008.
By:
/s/ William A. Hawkins
William A. Hawkins
Chairman and Chief Executive Officer
(principal executive officer)
By:
/s/ Gary L. Ellis
Gary L. Ellis
Senior Vice President and Chief Financial Officer (principal financial and accounting officer)
Richard H. Anderson*
)
David L. Calhoun*
)
Victor J. Dzau, M.D.*
)
William A. Hawkins*
)
Shirley Ann Jackson, Ph.D.*
)
James T. Lenehan*
)
Directors
Denise M. O'Leary*
)
Kendall J. Powell*
)
Robert C. Pozen*
)
Jean-Pierre Rosso*
)
Jack W. Schuler*
)
*
Terrance L. Carlson, by signing his name hereto, does hereby sign this document on behalf of
each of the above named directors of the Registrant pursuant to powers of attorney duly executed by
such persons on the 23 day of September, 2008.
By:
/s/ Terrance L. Carlson
Terrance L. Carlson
Senior Vice President, General Counsel
and Corporate Secretary, as
Attorney-in-Fact
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EXHIBIT INDEX
TO
REGISTRATION STATEMENT ON FORM S-8
Exhibit Number
Description
3.1
Medtronic Restated Articles of Incorporation (incorporated
by reference to Exhibit 3.1 to the Registrant's Form 10-Q
filed on September 7, 2007)
3.2
Medtronic Bylaws (incorporated by reference to Exhibit 3.2
to the Registrant's Form 10-K filed on June 30, 2004)
5.1
Opinion of Counsel regarding the legality of the securities
being registered
10.1
Medtronic, Inc. 2008 Stock Award and Incentive Plan
(incorporated by reference to Appendix A to the Registrant's
2008 Proxy Statement filed on July 18, 2008)
23.1
Consent of Counsel (included in Exhibit 5.1)
23.2
Consent of PricewaterhouseCoopers LLP, Independent
Registered Public Accounting Firm
24.1
Power of Attorney