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    <TD align="left" valign="top">As filed with the Securities and
Exchange Commission on August&nbsp;15, 2006
</TD>
    <TD align="right" valign="top">Registration No.&nbsp;333-&#95;&#95;&#95;&#95;&#95;&#95;&#95;&#95;</TD>
</TR>
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<DIV style="font-size: 6pt">&nbsp;
</DIV>

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


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

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

<DIV align="center" style="font-size: 14pt; margin-top: 6pt"><DIV style="width: 30%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;
</DIV></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: 14pt; margin-top: 12pt"><DIV style="width: 30%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;
</DIV></DIV>

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

<DIV align="center" style="font-size: 8pt"><I>(Exact Name of Registrant as Specified in Its Charter)</I></DIV>


<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
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<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>33-0928885</B></TD>
</TR>

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<TR valign="bottom">
    <TD align="center" valign="top"><I>(State or Other Jurisdiction of<BR>
Incorporation or Organization)</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><I>(I.R.S. Employer<BR>
Identification Number)</I></TD>
</TR>
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</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center"><B>2870 Kilgore Road</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center"><B>Rancho Cordova, California</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>95670</B></TD>
</TR>

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<TR valign="bottom">
    <TD align="center" valign="top"><I>(Address of Principal Executive Offices)</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><I>(Zip Code)</I></TD>
</TR>
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</TABLE>
</DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><DIV style="width: 30%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;
</DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>2000 Long Term Incentive Plan<BR>
2005 Equity Compensation Plan</B>
</DIV>

<DIV align="center" style="font-size: 8pt"><I>(Full Title of the Plans)</I></DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 6pt"><DIV style="width: 30%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;
</DIV></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>R. Scott Huennekens<BR>
President and Chief Executive Officer<BR>
Volcano Corporation<BR>
2870 Kilgore Road<BR>
Rancho Cordova, CA 95670</B>
</DIV>

<DIV align="center" style="font-size: 8pt"><I>(Name and Address of Agent For Service)</I></DIV>



<DIV align="center" style="font-size: 14pt; margin-top: 6pt"><DIV style="width: 30%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;
</DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>1-800-228-4728</B>
</DIV>

<DIV align="center" style="font-size: 8pt"><I>(Telephone Number, Including Area Code, of Agent For Service)</I></DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 6pt"><DIV style="width: 30%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;
</DIV></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B><I>Copies to:</I></B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Michael Sanders, Esq.<BR>
Dale S. Freeman, Esq.<BR>
Reed Smith LLP<BR>
Two Embarcadero Center<BR>
Suite&nbsp;2000<BR>
San Francisco, CA 94111<BR>
(415)&nbsp;543-8700</B>
</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">&nbsp;
</DIV>

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<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%">
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<TR valign="bottom">
    <TD width="37%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&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"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></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"><B>Title of Each Class of Securities</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount To</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Offering Price</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Aggregate Offering</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount of</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>To Be Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Be Registered&nbsp;(1)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Per Share</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Registration Fee</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap colspan="17" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par value $0.001 per
share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">5,859,083&nbsp;shares&nbsp;(2)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">2.29(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">13,417,300</TD>
    <TD nowrap>(3)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,435.65</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap colspan="17" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Common Stock, par value $0.001 per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">2,303,475 shares&nbsp;(4)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">9.525(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">21,940,599</TD>
    <TD nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,347.65</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap colspan="17" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></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 align="left">$</TD>
    <TD align="right">35,357,899</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,783.30</TD>
    <TD>&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


<DIV style="margin-top: 18pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;),
this registration statement on Form S-8 (this &#147;Registration Statement&#148;) shall also cover any
additional shares of the Registrant&#146;s common stock (the &#147;Common Stock&#148;) that become issuable
under the plans by reason of any stock dividend, stock split, recapitalization or other
similar transaction.<BR>
&nbsp;<BR>
Represents an aggregate of 8,162,558 shares of Common Stock reserved for issuance under the 2000
Long Term Inventive Plan (the &#147;2000 Plan&#148;) and the 2005 Equity Compensation Plan (the &#147;2005
Plan&#148;). The number of shares that may be issued under the 2005 Plan includes any shares that
have been reserved but not issued under the 2000 Plan and any shares returned to the 2000 Plan
as a result of termination of options or the repurchase of shares thereunder.</TD>
</TR>

</TABLE>
</DIV>

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Represents shares of Common Stock to be issued upon the exercise of outstanding options
granted under the 2000 Plan and the 2005 Plan. See footnote (1)&nbsp;above.</TD>
</TR>

</TABLE>
</DIV>

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the amount of the registration fee pursuant
to Rule 457(h) of the Securities Act. The proposed maximum offering price per share and
proposed maximum aggregate offering price for the 5,859,083 shares of Common Stock reserved
for future issuance upon the exercise of options outstanding under the 2000 Plan and 2005 Plan
are calculated using a weighted average exercise price for such shares of $2.29 per share.</TD>
</TR>

</TABLE>
</DIV>

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Represents shares of Common Stock reserved for future issuance under the 2005 Plan. See
footnote (1)&nbsp;above.</TD>
</TR>

</TABLE>
</DIV>

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the amount of the registration fee pursuant
to Rule 457(h) of the Securities Act, based upon the average of the high and low prices as
reported on the Nasdaq Global Market on August&nbsp;9, 2006.
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">2
</DIV>

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


</TABLE>
</DIV>

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


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 18pt"><B>Item&nbsp;3.&nbsp;&nbsp;&nbsp;&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 Registrant hereby incorporates by reference into this Registration Statement, the
following documents previously filed by the Registrant with the Securities and Exchange Commission
(the &#147;Commission&#148;):
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Registrant&#146;s prospectus filed pursuant to Rule 424(b) under the Securities Act on June
15, 2006 relating to the Registrant&#146;s registration statement on Form S-1, as amended (Registration
No.&nbsp;333-132678), filed under the Securities Act;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;All reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since June&nbsp;14,
2006, the effective date of the registration statement referred to in
(a)&nbsp;immediately above through the date of this Registration
Statement; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The description of the Common Stock contained in the Registrant&#146;s registration statement
on Form S-1, as amended (Registration No.&nbsp;333-132678), filed under the Securities Act, as
incorporated by reference in the Registrant&#146;s registration statement on Form 8-A filed on June&nbsp;12,
2006 (File No.&nbsp;000-52045), under the Securities Exchange Act of 1934, as amended (the &#147;Exchange
Act&#148;), including any amendment or report filed for the purpose of updating such description; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;All documents that we file pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Exchange Act
after the date of this Registration Statement and prior to the filing of a post-effective amendment
to this Registration Statement 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 a part hereof from the date of the filing of such
documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under no circumstances will any information filed under current items 2.02 or 7.01 of Form 8-K
be deemed incorporated herein by reference unless expressly provided to the contrary. For the
purposes of this Registration Statement, any statement contained in a document incorporated or
deemed to be incorporated by reference herein shall be deemed to be modified or superseded to the
extent that a statement contained herein or in any other subsequently filed document which also is
or is deemed to be incorporated by reference herein modifies or supersedes such 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>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4.&nbsp;&nbsp;&nbsp;&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>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Item&nbsp;5.&nbsp;&nbsp;&nbsp;&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;The validity of the shares of common stock offered hereby has been passed upon for the
Registrant by Reed Smith LLP. A partner of Reed Smith LLP holds a stock option to purchase 18,181
shares of the Common Stock at an exercise price of $0.33 per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial
statements of the Registrant appearing in its prospectus filed
pursuant to Rule 424(b) under the Securities Act on June&nbsp;15, 2006 relating to its registration
statement on Form S-1, as amended (Registration No.&nbsp;333-132678), have been audited by Ernst &#038; Young
LLP, independent registered public accounting firm, as set forth in their report thereon included
therein, and incorporated herein by reference. Such financial statements are, and audited
financial statements to be included in subsequently filed documents will be, incorporated herein in
reliance upon the reports of Ernst &#038; Young LLP pertaining to such financial statements (to the
extent covered by consents filed with the Commission) given on the
authority of such firm as experts in accounting and auditing.
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 of the Delaware General Corporation Law permits a corporation to include in its
charter documents, and in agreements between the corporation and its directors and officers,
provisions expanding the scope of indemnification beyond that specifically provided by current law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VIII of the Registrant&#146;s amended and restated certificate of incorporation provides
for the indemnification of directors to the fullest extent permissible under Delaware law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VI of the Registrant&#146;s bylaws provides for the indemnification of officers, directors
and third parties acting on the Registrant&#146;s behalf if such person acted in good faith and in a
manner reasonably believed to be in and not opposed to the Registrant&#146;s best interest and, with
respect to any criminal action or proceeding, the indemnified party had no reason to believe his or
her conduct was unlawful.
</DIV>

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

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant has entered into indemnification agreements with its directors and executive
officers, in addition to indemnification provided for in the Registrant&#146;s bylaws, and intends to
enter into indemnification agreements with any new directors and executive officers in the future.
Under these agreements, the Registrant is required to indemnify them against all expenses,
judgments, fines, settlements and other amounts actually and reasonably incurred in connection with
any actual or threatened litigation or proceeding, if any of them may be made a party to such
proceeding because he or she is or was one of the Registrant&#146;s directors or officers. The
Registrant is obligated to pay these amounts only if the officer or director acted in good faith
and in a manner that he or she reasonably believed to be in, or not opposed to, the Registrant&#146;s
best interests. With respect to any criminal proceeding, the Registrant is obligated to pay these
amounts only if the officer or director had no reasonable cause to believe that his or her conduct
was unlawful. The indemnification agreements also set forth procedures that will apply in the event
of a claim for indemnification thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Underwriting Agreement attached as Exhibit&nbsp;10.2 to the Registrant&#146;s Quarterly Report on
Form 10-Q filed on August&nbsp;9, 2006, provides for indemnification by the underwriters of the
Registrant and each of its executive officers and directors, and by us of the underwriters, for
certain liabilities, including liabilities arising under the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant has purchased and intends to maintain insurance on behalf of any person who is
or was a director or officer of the Registrant against any loss arising from any claim asserted
against him or her and incurred by him or her in any such capacity, subject to certain exclusions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See also the undertakings set out in respect to Item&nbsp;9 herein.
</DIV>

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

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</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="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Exhibit</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">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description of Document</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="top" style="background: #cceeff">
    <TD align="center">4.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Amended and Restated Certificate of Incorporation of Volcano Corporation (incorporated by reference to Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q filed on August 9, 2006).</TD>
</TR>
<TR valign="top">
    <TD align="center">4.2</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Certificate of Designation of Series A Junior Participating Preferred Stock of Volcano Corporation (incorporated by reference to
    Exhibit&nbsp;3.2 to the Registrant's Quarterly Report on Form 10-Q filed on August&nbsp;9, 2006).</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="background: #cceeff">
    <TD align="center">4.3</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Bylaws of Volcano Corporation (incorporated by reference to Exhibit&nbsp;3.3 to the Registrant's Quarterly Report on
    Form 10-Q filed on August&nbsp;9, 2006).</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top">
    <TD align="center">4.4</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Rights Agreement, by and between Volcano Corporation and American Stock Transfer &#038; Trust
    Company (incorporated by reference to Exhibit&nbsp;3.3 to the Registrant's Quarterly Report on Form 10-Q filed on August&nbsp;9, 2006).</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="background: #cceeff">
    <TD align="center">4.5</TD>
    <TD>&nbsp;</TD>
    <TD align="left">2000 Long Term Incentive Plan and forms of Option Agreements thereunder
    (incorporated by reference to Exhibit&nbsp;10.2 to the Registrant's registration statement on Form S-1, as amended (No.&nbsp;333-132678)).</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top">
    <TD align="center">4.6</TD>
    <TD>&nbsp;</TD>
    <TD align="left">2005 Equity Compensation Plan and forms of Option Agreements and Stock Grant Agreement thereunder
    (incorporated by reference to Exhibit&nbsp;10.3 to the Registrant's registration statement on Form S-1, as amended (No. 333-132678)).</TD>
</TR>
<TR valign="top" style="background: #cceeff">
    <TD align="center">5.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Opinion of Reed Smith LLP.</TD>
</TR>
<TR valign="top">
    <TD align="center">23.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Consent of Independent Registered Public Accounting Firm.</TD>
</TR>
<TR valign="top" style="background: #cceeff">
    <TD align="center">23.2</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Consent of Reed Smith LLP (See Exhibit 5.1).</TD>
</TR>
<TR valign="top">
    <TD align="center">24.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Power of Attorney (See signature page of this Registration Statement).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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


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

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a)&nbsp;&nbsp;&nbsp;</TD>
    <TD colspan="3">The undersigned Registrant hereby undertakes:</TD>
</TR>
<TR style="font-size: 6pt">
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD nowrap align="left">(1)&nbsp;&nbsp;&nbsp;</TD>
    <TD colspan="2">To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:</TD>
</TR>
<TR style="font-size: 6pt">
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">(i)&nbsp;&nbsp;&nbsp;</TD>
    <TD>To include any prospectus required by section 10(a)(3) of the Securities Act;</TD>
</TR>
<TR style="font-size: 6pt">
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">(ii)</TD>
    <TD>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;</TD>
</TR>
<TR style="font-size: 6pt">
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">(iii)</TD>
    <TD>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;</TD>
</TR>
<TR style="font-size: 6pt">
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD colspan="3"><I>Provided, however</I>, 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.</TD>
</TR>
<TR style="font-size: 6pt">
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD nowrap align="left">(2)</TD>
    <TD colspan="2">That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.</TD>
</TR>
<TR style="font-size: 6pt">
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD nowrap align="left">(3)</TD>
    <TD colspan="2">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.</TD>
</TR>
<TR style="font-size: 6pt">
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD nowrap align="left">(b)</TD>
    <TD colspan="3">The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Registrant&#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 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.</TD>
</TR>
<TR style="font-size: 6pt">
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD nowrap align="left">(c)</TD>
    <TD colspan="3">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
Commission such indemnification is against public policy as expressed in the Securities Act
and is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or paid by a
director, officer or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion of
its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of
such issue.</TD>
</TR>
</TABLE>
</DIV>

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

</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">

<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, 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 Rancho Cordova, State of California,
on August&nbsp;14, 2006.
</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">VOLCANO CORPORATION<BR>
&nbsp;<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/ R. Scott Huennekens
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">R. Scott Huennekens&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

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



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS"><B>Know All Persons By These Presents</B>,</FONT> that each person whose signature appears below
constitutes and appoints R. Scott Huennekens and John T. Dahldorf, and each or any one of them, his
or her true and lawful attorney-in-fact and agent, with full power of substitution and
resubstitution, for him or her and in his or her name, place and stead, in any and all capacities,
to sign any and all amendments (including post-effective amendments) to this Registration
Statement, and to file the same, with all exhibits thereto, and other documents in connection
therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and
agents, and each of them, full power and authority to do and perform each and every act and thing
requisite and necessary to be done in connection therewith, as fully to all intents and purposes as
he or she might or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or any of them, or their or his or her substitutes or substitute, may
lawfully do or cause to be done by virtue hereof.
</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, this Registration Statement has
been signed by the following persons in the capacities and on the dates indicated.
</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="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"  style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">/s/ R. Scott Huennekens</TD>
    <TD>&nbsp;</TD>
    <TD align="center">President and Chief Executive Officer, Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center">August&nbsp;14, 2006</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">R. Scott Huennekens</TD>
    <TD>&nbsp;</TD>
    <TD align="center">(principal executive officer)</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">/s/ John T. Dahldorf</TD>
    <TD>&nbsp;</TD>
    <TD align="center">Chief Financial Officer (principal financial officer</TD>
    <TD>&nbsp;</TD>
    <TD align="center">August&nbsp;15, 2006</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">John T. Dahldorf</TD>
    <TD>&nbsp;</TD>
    <TD align="center">and principal accounting officer)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">/s/ Olav B. Bergheim</TD>
    <TD>&nbsp;</TD>
    <TD align="center">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center">August&nbsp;15, 2006</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">Olav B. Bergheim</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">/s/ Robert J. Adelman, M.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="center">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center">August&nbsp;15, 2006</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">Robert J. Adelman, M.D.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">/s/ James C. Blair, Ph.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="center">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center">August&nbsp;15, 2006</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">James C. Blair, Ph.D.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">/s/ S. Ward Casscells, M.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="center">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center">August&nbsp;14, 2006</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">S. Ward Casscells, M.D.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">/s/ Carlos A. Ferrer</TD>
    <TD>&nbsp;</TD>
    <TD align="center">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center">August&nbsp;15, 2006</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">Carlos A. Ferrer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">/s/ Lesley H. Howe</TD>
    <TD>&nbsp;</TD>
    <TD align="center">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center">August&nbsp;15, 2006</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">Lesley H. Howe</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">/s/ Ronald A. Matricaria</TD>
    <TD>&nbsp;</TD>
    <TD align="center">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center">August&nbsp;14, 2006</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center">Ronald A. Matricaria</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</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="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Exhibit</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">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description of Document</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="top" style="background: #cceeff">
    <TD align="center">4.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Amended and Restated Certificate of Incorporation of Volcano Corporation (incorporated by reference to Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q filed on August 9, 2006).</TD>
</TR>
<TR valign="top">
    <TD align="center">4.2</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Certificate of Designation of Series A Junior Participating Preferred Stock of Volcano Corporation (incorporated by reference to
    Exhibit&nbsp;3.2 to the Registrant's Quarterly Report on Form 10-Q filed on August&nbsp;9, 2006).</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="background: #cceeff">
    <TD align="center">4.3</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Bylaws of Volcano Corporation (incorporated by reference to Exhibit&nbsp;3.3 to the Registrant's Quarterly Report on
    Form 10-Q filed on August&nbsp;9, 2006).</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top">
    <TD align="center">4.4</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Rights Agreement, by and between Volcano Corporation and American Stock Transfer &#038; Trust
    Company (incorporated by reference to Exhibit&nbsp;3.3 to the Registrant's Quarterly Report on Form 10-Q filed on August&nbsp;9, 2006).</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top" style="background: #cceeff">
    <TD align="center">4.5</TD>
    <TD>&nbsp;</TD>
    <TD align="left">2000 Long Term Incentive Plan and forms of Option Agreements thereunder
    (incorporated by reference to Exhibit&nbsp;10.2 to the Registrant's registration statement on Form S-1, as amended (No.&nbsp;333-132678)).</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="top">
    <TD align="center">4.6</TD>
    <TD>&nbsp;</TD>
    <TD align="left">2005 Equity Compensation Plan and forms of Option Agreements and Stock Grant Agreement thereunder
    (incorporated by reference to Exhibit&nbsp;10.3 to the Registrant's registration statement on Form S-1, as amended (No. 333-132678)).</TD>
</TR>
<TR valign="top" style="background: #cceeff">
    <TD align="center">5.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Opinion of Reed Smith LLP.</TD>
</TR>
<TR valign="top">
    <TD align="center">23.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Consent of Independent Registered Public Accounting Firm.</TD>
</TR>
<TR valign="top" style="background: #cceeff">
    <TD align="center">23.2</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Consent of Reed Smith LLP (See Exhibit 5.1).</TD>
</TR>
<TR valign="top">
    <TD align="center">24.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left">Power of Attorney (See signature page of this Registration Statement).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">7
</DIV>


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{"company-data": {"conformed-name": "Volcano CORP", "cik": "0001354217", "assigned-sic": "3845", "irs-number": "330928885", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-136655", "film-number": "061036137"}, "business-address": {"street1": "2870 KILGORE ROAD", "city": "RANCHO CORDOVA", "state": "CA", "zip": "95670", "phone": "800-228-4728"}, "mail-address": {"street1": "2870 KILGORE ROAD", "city": "RANCHO CORDOVA", "state": "CA", "zip": "95670"}}
sv8
As filed with the Securities and
Exchange Commission on August 15, 2006
Registration No. 333-________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
VOLCANO CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware
33-0928885
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer
Identification Number)
2870 Kilgore Road
Rancho Cordova, California
95670
(Address of Principal Executive Offices)
(Zip Code)
2000 Long Term Incentive Plan
2005 Equity Compensation Plan
(Full Title of the Plans)
R. Scott Huennekens
President and Chief Executive Officer
Volcano Corporation
2870 Kilgore Road
Rancho Cordova, CA 95670
(Name and Address of Agent For Service)
1-800-228-4728
(Telephone Number, Including Area Code, of Agent For Service)
Copies to:
Michael Sanders, Esq.
Dale S. Freeman, Esq.
Reed Smith LLP
Two Embarcadero Center
Suite 2000
San Francisco, CA 94111
(415) 543-8700
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Title of Each Class of Securities
Amount To
Offering Price
Aggregate Offering
Amount of
To Be Registered
Be Registered (1)
Per Share
Price
Registration Fee
Common Stock, par value $0.001 per
share
5,859,083 shares (2)
$
2.29(3)
$
13,417,300
(3)
$
1,435.65
Common Stock, par value $0.001 per share
2,303,475 shares (4)
$
9.525(5)
$
21,940,599
(5)
$
2,347.65
Total
$
35,357,899
$
3,783.30
(1)
Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"),
this registration statement on Form S-8 (this "Registration Statement") shall also cover any
additional shares of the Registrant's common stock (the "Common Stock") that become issuable
under the plans by reason of any stock dividend, stock split, recapitalization or other
similar transaction.
Represents an aggregate of 8,162,558 shares of Common Stock reserved for issuance under the 2000
Long Term Inventive Plan (the "2000 Plan") and the 2005 Equity Compensation Plan (the "2005
Plan"). The number of shares that may be issued under the 2005 Plan includes any shares that
have been reserved but not issued under the 2000 Plan and any shares returned to the 2000 Plan
as a result of termination of options or the repurchase of shares thereunder.
(2)
Represents shares of Common Stock to be issued upon the exercise of outstanding options
granted under the 2000 Plan and the 2005 Plan. See footnote (1) above.
(3)
Estimated solely for the purpose of calculating the amount of the registration fee pursuant
to Rule 457(h) of the Securities Act. The proposed maximum offering price per share and
proposed maximum aggregate offering price for the 5,859,083 shares of Common Stock reserved
for future issuance upon the exercise of options outstanding under the 2000 Plan and 2005 Plan
are calculated using a weighted average exercise price for such shares of $2.29 per share.
(4)
Represents shares of Common Stock reserved for future issuance under the 2005 Plan. See
footnote (1) above.
(5)
Estimated solely for the purpose of calculating the amount of the registration fee pursuant
to Rule 457(h) of the Securities Act, based upon the average of the high and low prices as
reported on the Nasdaq Global Market on August 9, 2006.
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PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.     Incorporation of Documents by Reference.
The Registrant hereby incorporates by reference into this Registration Statement, the
following documents previously filed by the Registrant with the Securities and Exchange Commission
(the "Commission"):
(a) The Registrant's prospectus filed pursuant to Rule 424(b) under the Securities Act on June
15, 2006 relating to the Registrant's registration statement on Form S-1, as amended (Registration
No. 333-132678), filed under the Securities Act;
(b) All reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since June 14,
2006, the effective date of the registration statement referred to in
(a) immediately above through the date of this Registration
Statement; and
(c) The description of the Common Stock contained in the Registrant's registration statement
on Form S-1, as amended (Registration No. 333-132678), filed under the Securities Act, as
incorporated by reference in the Registrant's registration statement on Form 8-A filed on June 12,
2006 (File No. 000-52045), under the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), including any amendment or report filed for the purpose of updating such description; and
(d) All documents that we file pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act
after the date of this Registration Statement and prior to the filing of a post-effective amendment
to this Registration Statement 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 a part hereof from the date of the filing of such
documents.
Under no circumstances will any information filed under current items 2.02 or 7.01 of Form 8-K
be deemed incorporated herein by reference unless expressly provided to the contrary. For the
purposes of this Registration Statement, any statement contained in a document incorporated or
deemed to be incorporated by reference herein shall be deemed to be modified or superseded to the
extent that a statement contained herein or in any other subsequently filed document which also is
or is deemed to be incorporated by reference herein modifies or supersedes such 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.
The validity of the shares of common stock offered hereby has been passed upon for the
Registrant by Reed Smith LLP. A partner of Reed Smith LLP holds a stock option to purchase 18,181
shares of the Common Stock at an exercise price of $0.33 per share.
The consolidated financial
statements of the Registrant appearing in its prospectus filed
pursuant to Rule 424(b) under the Securities Act on June 15, 2006 relating to its registration
statement on Form S-1, as amended (Registration No. 333-132678), have been audited by Ernst & Young
LLP, independent registered public accounting firm, as set forth in their report thereon included
therein, and incorporated herein by reference. Such financial statements are, and audited
financial statements to be included in subsequently filed documents will be, incorporated herein in
reliance upon the reports of Ernst & Young LLP pertaining to such financial statements (to the
extent covered by consents filed with the Commission) given on the
authority of such firm as experts in accounting and auditing.
Item 6.     Indemnification of Directors and Officers.
Section 145 of the Delaware General Corporation Law permits a corporation to include in its
charter documents, and in agreements between the corporation and its directors and officers,
provisions expanding the scope of indemnification beyond that specifically provided by current law.
Article VIII of the Registrant's amended and restated certificate of incorporation provides
for the indemnification of directors to the fullest extent permissible under Delaware law.
Article VI of the Registrant's bylaws provides for the indemnification of officers, directors
and third parties acting on the Registrant's behalf if such person acted in good faith and in a
manner reasonably believed to be in and not opposed to the Registrant's best interest and, with
respect to any criminal action or proceeding, the indemnified party had no reason to believe his or
her conduct was unlawful.
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The Registrant has entered into indemnification agreements with its directors and executive
officers, in addition to indemnification provided for in the Registrant's bylaws, and intends to
enter into indemnification agreements with any new directors and executive officers in the future.
Under these agreements, the Registrant is required to indemnify them against all expenses,
judgments, fines, settlements and other amounts actually and reasonably incurred in connection with
any actual or threatened litigation or proceeding, if any of them may be made a party to such
proceeding because he or she is or was one of the Registrant's directors or officers. The
Registrant is obligated to pay these amounts only if the officer or director acted in good faith
and in a manner that he or she reasonably believed to be in, or not opposed to, the Registrant's
best interests. With respect to any criminal proceeding, the Registrant is obligated to pay these
amounts only if the officer or director had no reasonable cause to believe that his or her conduct
was unlawful. The indemnification agreements also set forth procedures that will apply in the event
of a claim for indemnification thereunder.
The Underwriting Agreement attached as Exhibit 10.2 to the Registrant's Quarterly Report on
Form 10-Q filed on August 9, 2006, provides for indemnification by the underwriters of the
Registrant and each of its executive officers and directors, and by us of the underwriters, for
certain liabilities, including liabilities arising under the Securities Act.
The Registrant has purchased and intends to maintain insurance on behalf of any person who is
or was a director or officer of the Registrant against any loss arising from any claim asserted
against him or her and incurred by him or her in any such capacity, subject to certain exclusions.
See also the undertakings set out in respect to Item 9 herein.
Item 7.     Exemption from Registration Claimed.
Not applicable.
Item 8.     Exhibits
Exhibit
Number
Description of Document
4.1
Amended and Restated Certificate of Incorporation of Volcano Corporation (incorporated by reference to Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q filed on August 9, 2006).
4.2
Certificate of Designation of Series A Junior Participating Preferred Stock of Volcano Corporation (incorporated by reference to
    Exhibit 3.2 to the Registrant's Quarterly Report on Form 10-Q filed on August 9, 2006).
4.3
Bylaws of Volcano Corporation (incorporated by reference to Exhibit 3.3 to the Registrant's Quarterly Report on
    Form 10-Q filed on August 9, 2006).
4.4
Rights Agreement, by and between Volcano Corporation and American Stock Transfer & Trust
    Company (incorporated by reference to Exhibit 3.3 to the Registrant's Quarterly Report on Form 10-Q filed on August 9, 2006).
4.5
2000 Long Term Incentive Plan and forms of Option Agreements thereunder
    (incorporated by reference to Exhibit 10.2 to the Registrant's registration statement on Form S-1, as amended (No. 333-132678)).
4.6
2005 Equity Compensation Plan and forms of Option Agreements and Stock Grant Agreement thereunder
    (incorporated by reference to Exhibit 10.3 to the Registrant's registration statement on Form S-1, as amended (No. 333-132678)).
5.1
Opinion of Reed Smith LLP.
23.1
Consent of Independent Registered Public Accounting Firm.
23.2
Consent of Reed Smith LLP (See Exhibit 5.1).
24.1
Power of Attorney (See signature page of this Registration Statement).
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Item 9.     Undertakings.
(a)
The undersigned Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
(i)
To include any prospectus required by section 10(a)(3) of the Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the effective
date of this Registration Statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in the
information set forth in this Registration Statement;
(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) 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)
That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
(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)
The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Registrant'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 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 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
Commission such indemnification is against public policy as expressed in the Securities Act
and is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or paid by a
director, officer or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion of
its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the 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, 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 Rancho Cordova, State of California,
on August 14, 2006.
VOLCANO CORPORATION
By:
/s/ R. Scott Huennekens
R. Scott Huennekens
President and Chief Executive Officer
POWER OF ATTORNEY
Know All Persons By These Presents
,
that each person whose signature appears below
constitutes and appoints R. Scott Huennekens and John T. Dahldorf, and each or any one of them, his
or her true and lawful attorney-in-fact and agent, with full power of substitution and
resubstitution, for him or her and in his or her name, place and stead, in any and all capacities,
to sign any and all amendments (including post-effective amendments) to this Registration
Statement, and to file the same, with all exhibits thereto, and other documents in connection
therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and
agents, and each of them, full power and authority to do and perform each and every act and thing
requisite and necessary to be done in connection therewith, as fully to all intents and purposes as
he or she might or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or any of them, or their or his or her substitutes or substitute, 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 and on the dates indicated.
Signature
Title
Date
/s/ R. Scott Huennekens
President and Chief Executive Officer, Director
August 14, 2006
R. Scott Huennekens
(principal executive officer)
/s/ John T. Dahldorf
Chief Financial Officer (principal financial officer
August 15, 2006
John T. Dahldorf
and principal accounting officer)
/s/ Olav B. Bergheim
Director
August 15, 2006
Olav B. Bergheim
/s/ Robert J. Adelman, M.D.
Director
August 15, 2006
Robert J. Adelman, M.D.
/s/ James C. Blair, Ph.D.
Director
August 15, 2006
James C. Blair, Ph.D.
/s/ S. Ward Casscells, M.D.
Director
August 14, 2006
S. Ward Casscells, M.D.
/s/ Carlos A. Ferrer
Director
August 15, 2006
Carlos A. Ferrer
/s/ Lesley H. Howe
Director
August 15, 2006
Lesley H. Howe
/s/ Ronald A. Matricaria
Director
August 14, 2006
Ronald A. Matricaria
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EXHIBIT INDEX
Exhibit
Number
Description of Document
4.1
Amended and Restated Certificate of Incorporation of Volcano Corporation (incorporated by reference to Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q filed on August 9, 2006).
4.2
Certificate of Designation of Series A Junior Participating Preferred Stock of Volcano Corporation (incorporated by reference to
    Exhibit 3.2 to the Registrant's Quarterly Report on Form 10-Q filed on August 9, 2006).
4.3
Bylaws of Volcano Corporation (incorporated by reference to Exhibit 3.3 to the Registrant's Quarterly Report on
    Form 10-Q filed on August 9, 2006).
4.4
Rights Agreement, by and between Volcano Corporation and American Stock Transfer & Trust
    Company (incorporated by reference to Exhibit 3.3 to the Registrant's Quarterly Report on Form 10-Q filed on August 9, 2006).
4.5
2000 Long Term Incentive Plan and forms of Option Agreements thereunder
    (incorporated by reference to Exhibit 10.2 to the Registrant's registration statement on Form S-1, as amended (No. 333-132678)).
4.6
2005 Equity Compensation Plan and forms of Option Agreements and Stock Grant Agreement thereunder
    (incorporated by reference to Exhibit 10.3 to the Registrant's registration statement on Form S-1, as amended (No. 333-132678)).
5.1
Opinion of Reed Smith LLP.
23.1
Consent of Independent Registered Public Accounting Firm.
23.2
Consent of Reed Smith LLP (See Exhibit 5.1).
24.1
Power of Attorney (See signature page of this Registration Statement).
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