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<TITLE>sv8</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>As
filed with the Securities and Exchange Commission on August&nbsp;11, 2005<BR>
Registration No.&nbsp;333-</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</DIV>


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




<DIV align="center" style="font-size: 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: 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" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT</B></DIV>


<DIV align="center" style="font-size: 12pt"><B>UNDER</B></DIV>


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


<DIV align="center" style="font-size: 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" style="font-size: 24pt; margin-top: 12pt"><B>PHOTON DYNAMICS, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>(Exact Name of Registrant as Specified in Its Charter)</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="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>California</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>94-33007502</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 No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>5970 Optical Court</B></FONT><BR>
<FONT style="font-variant: SMALL-CAPS"><B>San Jose, CA 95138</B></FONT><BR>
<B>(408)&nbsp;226-9900</B><BR>
(Address of Principal Executive Offices, including Zip Code)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>2005 Equity Incentive Plan<BR>
2005 Employee Stock Purchase Plan<BR>
2005 Non-Employee Directors&#146; Stock Option Plan<BR>
(Full Titles of the Plans)</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>MAUREEN L. LAMB<BR>
Chief Financial Officer and Secretary<BR>
Photon Dynamics, Inc.<BR>
5970 Optical Court<BR>
San Jose, CA 95138<BR>
(408)&nbsp;226-9900<BR>
(Name, address, including zip code, and telephone number,<BR>
including area code, of agent for service)</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Copies to:<BR>
<FONT style="font-variant: SMALL-CAPS"><B>BRETT D. WHITE, ESQ.</B></FONT><BR>
<B>Cooley Godward<FONT style="font-variant: SMALL-CAPS"> LLP</FONT></B><BR>
<B>Five Palo Alto Square<BR>
3000 El Camino Real<BR>
Palo Alto, CA 94306-2155<BR>
(650)&nbsp;843-5000</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><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">
    <TD width="1%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of Each Class of Securities</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount of</B></TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>To Be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>To Be</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Offering Price Per</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Aggregate Offering</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Registration</B></TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Registered (1)</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Share (2)</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Price (2)</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Fee</B></TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, no par value per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">2,200,000</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">18.22</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">40,084,000</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">4,717.89</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px solid #000000">&nbsp;</TD>
</TR>

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



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as
amended (the &#147;Securities Act&#148;), this Registration Statement shall cover any additional shares
of Common Stock which become issuable under the plans set forth herein by reason of any stock
dividend, stock split, recapitalization or any other similar transaction without receipt of
consideration which results in an increase in the number of shares of the Registrant&#146;s
outstanding Common Stock.</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 calculating the amount of the registration fee
pursuant to Rule 457(h) promulgated under the Securities Act. The offering price per share and
aggregate offering price are based upon the average of the high and low prices of Registrant&#146;s
Common Stock as reported on the NASDAQ National Market on August 9, 2005, in accordance
with Rule 457(c) of the Securities Act.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 24pt">&nbsp;
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 24pt">&nbsp;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The chart below details the calculation of the registration fee:
</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="64%">&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="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>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Number of</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="2"><B>Aggregate Offering</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Title of Securities to be Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Shares</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="2"><B>Price</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Common Stock, no par value per
share, reserved for future issuance under
the 2005 Equity Incentive Plan</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">800,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">18.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">14,576,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Common Stock, no par value per share,
reserved for future issuance under the
2005 Employee Stock Purchase Plan</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">18.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">18,220,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Common Stock, no par value per share,
reserved for future issuance under the
2005 Non-Employee Directors&#146; Stock Option
Plan</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">400,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">18.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,288,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,200,000</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">40,084,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</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">&nbsp;
</DIV>

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<P><HR noshade><P>

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




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

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">DESCRIPTION OF SECURITIES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">INTERESTS OF NAMED EXPERTS AND COUNSEL</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">INDEMNIFICATION OF DIRECTORS AND OFFICERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">EXEMPTION FROM REGISTRATION CLAIMED</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">UNDERTAKINGS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">POWER OF ATTORNEY</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="f11679exv5w1.htm">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="f11679exv23w1.htm">EXHIBIT 23.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="f11679exv99w2.htm">EXHIBIT 99.2</A></TD></TR>
<TR><TD colspan="9"><A HREF="f11679exv99w4.htm">EXHIBIT 99.4</A></TD></TR>
<TR><TD colspan="9"><A HREF="f11679exv99w5.htm">EXHIBIT 99.5</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 "INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by Photon Dynamics, Inc. (the &#147;Company&#148;) with the Securities and
Exchange Commission (&#147;SEC&#148;) are incorporated by reference into this Registration Statement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(a)&nbsp;</B>The Company&#146;s Annual Report on Form 10-K for the Company&#146;s fiscal year ended September&nbsp;30,
2004, filed with the SEC on December&nbsp;14, 2004, as amended by Amendment No.&nbsp;1 thereto filed with the
SEC on December&nbsp;22, 2004, Amendment No.&nbsp;2 thereto filed with the SEC on January&nbsp;28, 2005, and
Amendment No.&nbsp;3 thereto filed with the SEC on August&nbsp;9, 2005;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(b)&nbsp;</B>The Company&#146;s Quarterly Report on Form 10-Q for the quarter ended December&nbsp;31, 2004, filed
with the SEC on February&nbsp;9, 2005, as amended by Amendment No.&nbsp;1 thereto filed with the SEC on
August&nbsp;9, 2005;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(c)&nbsp;</B>The Company&#146;s Quarterly Report on Form 10-Q for the quarter ended March&nbsp;31, 2005, filed
with the SEC on August&nbsp;9, 2005;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(d)&nbsp;</B>The Company&#146;s Quarterly Report on Form 10-Q for the quarter ended June&nbsp;31, 2005, filed
with the SEC on August&nbsp;9, 2005;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(e)&nbsp;</B>The Company&#146;s Current Reports on Form 8-K filed with the SEC on October&nbsp;14, 2004 (with
respect to Item&nbsp;5.02 only), October&nbsp;29, 2004, November&nbsp;5, 2004, December&nbsp;6, 2004, December&nbsp;20,
2004, December&nbsp;27, 2004, March&nbsp;9, 2005, April&nbsp;11, 2005, April&nbsp;21, 2005, May&nbsp;4, 2005, May&nbsp;6, 2005
and May&nbsp;12, 2005; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(f)&nbsp;</B>The description of the Company&#146;s Common Stock contained in the registration statement on
Form 8-A (File No.&nbsp;000-27234), filed with the SEC on November&nbsp;14, 1995 under the Securities
Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), as amended by the Company&#146;s Post-Effective
Amendment No.&nbsp;1 to Form S-3 on Form S-1 (File No.&nbsp;333-67622), filed with the SEC on May&nbsp;24, 2002.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All reports and other documents subsequently filed by the Company pursuant to Sections&nbsp;13(a),
13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference herein and to be a part of this
registration statement from the date of the filing of such reports and documents.
</DIV>
<!-- link1 "DESCRIPTION OF SECURITIES" -->
<DIV align="left"><A NAME="001"></A></DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link1 "INTERESTS OF NAMED EXPERTS AND COUNSEL" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>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>
<!-- link1 "INDEMNIFICATION OF DIRECTORS AND OFFICERS" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INDEMNIFICATION OF DIRECTORS AND OFFICERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Bylaws provide that we will indemnify our directors and officers to the fullest extent not
prohibited by California law. We are also empowered under our Articles of Incorporation and Bylaws
to enter into indemnification contracts with our directors, officers, employees and agents and to
purchase insurance on behalf of any person whom we are required or permitted to indemnify. Pursuant
to this provision, we have entered into indemnity agreements with each of our directors and
officers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, our Articles of Incorporation provide that, to the fullest extent permitted by
California law, our directors will not be liable for monetary damages for breach of the directors&#146;
fiduciary duty of care to us and our
</DIV>

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

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

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">shareholders. This provision in the Articles of Incorporation
does not eliminate the duty of care, and in appropriate circumstances, equitable remedies such as
an injunction or other forms of non-monetary relief would remain available under California law.
Each director will continue to be subject to liability for breach of the director&#146;s duty of loyalty
to us, for acts or omissions not in good faith or involving intentional misconduct or knowing and
culpable violations of law, that the director believes to be contrary to the best interests of the
Company or our shareholders, involving a reckless disregard for the director&#146;s duty to the Company
or our shareholders when the director was aware or should have been aware of a risk of serious
injury to the Company or our shareholders, or an unexcused pattern of inattention that amounts to
an abdication of the director&#146;s duty to the Company or our shareholders, for improper transactions
between the director and the Company and for improper distributions to shareholders and loans to
directors and officers or for acts or omissions by the director as an officer. This provision also
does not affect a director&#146;s responsibilities under any other laws, such as the federal securities
laws or state or federal environmental laws.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There is no pending litigation or proceeding involving a director, officer, employee or other
agent of the Company as to which indemnification is being sought, nor is the Company aware of any
pending or threatened litigation that may result in claims for indemnification by any director,
officer, employee or other agent.
</DIV>
<!-- link1 "EXEMPTION FROM REGISTRATION CLAIMED" -->
<DIV align="left"><A NAME="004"></A></DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link1 "EXHIBITS" -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>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="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Cooley Godward <FONT style="font-variant: SMALL-CAPS">llp</FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP, Independent Registered Public Accounting Firm</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Cooley Godward <FONT style="font-variant: SMALL-CAPS">llp</FONT> (contained in Exhibit&nbsp;5.1)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (contained on the signature page)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Equity Incentive Plan (1)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">99.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Stock Option Agreement under the 2005 Equity Incentive Plan</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">99.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Employee Stock Purchase Plan (1)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">99.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Non-Employee Directors&#146; Stock Option Plan</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">99.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Stock Option Agreement under the 2005 Non-Employee Directors&#146; Stock Option Plan</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 nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Filed as an exhibit to the Company&#146;s Current Report on Form 8-K filed with the SEC on March&nbsp;9,
2005.</TD>
</TR>

</TABLE>


<!-- link1 "UNDERTAKINGS" -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>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="3%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned registrant hereby undertakes:</TD>
</TR>

</TABLE>
</DIV>

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

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

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

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(ii) </B>To reflect in the prospectus any facts or events arising after the effective date of the
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 the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the Commission pursuant to Rule 424(b) (&#167; 230.424(b) of this
chapter) if, in the aggregate, the changes in volume and price represent no more than a 20% change
in the maximum aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148; table in
the effective registration statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(iii) </B>To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such information in
the registration statement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Provided, however, </I>that paragraphs (a)(i) and (a)(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 by the issuer pursuant to section 13 or section 15(d) of the Exchange Act that are
incorporated by reference herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(b)&nbsp;</B>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 herein, 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;<B>(c)&nbsp;</B>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 style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>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 the Registration Statement shall be deemed to be a new
registration statement relating to the securities offered herein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Insofar as indemnification for liabilities arising under the Securities Act may be permitted
to directors, officers and controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed
in 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">&nbsp;
</DIV>

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

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



<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="007"></A></DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of San Jose, State of California, on August
11, 2005.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>PHOTON DYNAMICS, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ <FONT style="font-variant: SMALL-CAPS">Maureen L. Lamb</FONT>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Maureen L. Lamb&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Financial Officer and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
<!-- link1 "POWER OF ATTORNEY" -->
<DIV align="left"><A NAME="008"></A></DIV>

<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 Jeffrey A. Hawthorne and Maureen L. Lamb, and each or any one of them, his
true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for
him and in his 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 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 substitutes or substitute, may lawfully do or cause to be done by virtue hereof.
</DIV>

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

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

<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="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 0px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 0px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 0px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top">/s/    <FONT style="font-variant: SMALL-CAPS">Jeffrey A. Hawthorne</FONT>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
<B>Jeffrey A. Hawthorne</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chief
Executive Officer
and President;
Director (Principal
Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August&nbsp;8, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/    <FONT style="font-variant: SMALL-CAPS">Maureen L. Lamb</FONT>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
<B>Maureen L. Lamb</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chief
Financial Officer
and Secretary
(Principal
Financial and
Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 11, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/    <FONT style="font-variant: SMALL-CAPS">Malcolm J. Thompson</FONT>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
<B>Malcolm J. Thompson</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Executive
Chairman of the
Board of Directors;
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 11, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/    <FONT style="font-variant: SMALL-CAPS">E. Floyd Kvamme</FONT>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>

<B>E. Floyd Kvamme</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 11, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/    <FONT style="font-variant: SMALL-CAPS">Nicholas E. Brathwaite</FONT>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
<B>Nicholas E. Brathwaite</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 8, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;
<FONT style="font-variant: SMALL-CAPS">&nbsp;</FONT>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
<B>Michael J. Kim</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top"><FONT style="font-variant: SMALL-CAPS">/s/    Terry H. Carlitz</FONT>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
<B>Terry H. Carlitz</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 11, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/    <FONT style="font-variant: SMALL-CAPS">Curtis S. Wozniak</FONT>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
<B>Curtis S. Wozniak</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">August 11, 2005</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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

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

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



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

<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="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Cooley Godward <FONT style="font-variant: SMALL-CAPS">llp</FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP, Independent Registered Public Accounting Firm</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Cooley Godward <FONT style="font-variant: SMALL-CAPS">llp</FONT> (contained in Exhibit&nbsp;5.1)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (contained on the signature page)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Equity Incentive Plan (1)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">99.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Stock Option Agreement under the 2005 Equity Incentive Plan</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">99.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Employee Stock Purchase Plan (1)</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">99.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2005 Non-Employee Directors&#146; Stock Option Plan</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-right:15px; text-indent:-0px">99.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Stock Option Agreement under the 2005 Non-Employee Directors&#146; Stock
Option Plan</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Filed as an exhibit to the Company&#146;s Current Report on Form 8-K filed with the SEC on March
9, 2005.</TD>
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sv8
Table of Contents
As
filed with the Securities and Exchange Commission on August 11, 2005
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
PHOTON DYNAMICS, INC.
(Exact Name of Registrant as Specified in Its Charter)
California
94-33007502
(State or Other Jurisdiction of
(I.R.S. Employer
Incorporation or Organization)
Identification No.)
5970 Optical Court
San Jose, CA 95138
(408) 226-9900
(Address of Principal Executive Offices, including Zip Code)
2005 Equity Incentive Plan
2005 Employee Stock Purchase Plan
2005 Non-Employee Directors' Stock Option Plan
(Full Titles of the Plans)
MAUREEN L. LAMB
Chief Financial Officer and Secretary
Photon Dynamics, Inc.
5970 Optical Court
San Jose, CA 95138
(408) 226-9900
(Name, address, including zip code, and telephone number,
including area code, of agent for service)
Copies to:
BRETT D. WHITE, ESQ.
Cooley Godward
LLP
Five Palo Alto Square
3000 El Camino Real
Palo Alto, CA 94306-2155
(650) 843-5000
CALCULATION OF REGISTRATION FEE
Title of Each Class of Securities
Amount
Proposed Maximum
Proposed Maximum
Amount of
To Be
To Be
Offering Price Per
Aggregate Offering
Registration
Registered
Registered (1)
Share (2)
Price (2)
Fee
Common Stock, no par value per share
2,200,000
$
18.22
$
40,084,000
$
4,717.89
(1)
Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as
amended (the "Securities Act"), this Registration Statement shall cover any additional shares
of Common Stock which become issuable under the plans set forth herein by reason of any stock
dividend, stock split, recapitalization or any other similar transaction without receipt of
consideration which results in an increase in the number of shares of the Registrant's
outstanding Common Stock.
(2)
Estimated solely for the purpose of calculating the amount of the registration fee
pursuant to Rule 457(h) promulgated under the Securities Act. The offering price per share and
aggregate offering price are based upon the average of the high and low prices of Registrant's
Common Stock as reported on the NASDAQ National Market on August 9, 2005, in accordance
with Rule 457(c) of the Securities Act.
The chart below details the calculation of the registration fee:
Number of
Offering Price
Aggregate Offering
Title of Securities to be Registered
Shares
Per Share
Price
Common Stock, no par value per
share, reserved for future issuance under
the 2005 Equity Incentive Plan
800,000
$
18.22
$
14,576,000
Common Stock, no par value per share,
reserved for future issuance under the
2005 Employee Stock Purchase Plan
1,000,000
$
18.22
$
18,220,000
Common Stock, no par value per share,
reserved for future issuance under the
2005 Non-Employee Directors' Stock Option
Plan
400,000
$
18.22
$
7,288,000
Total
2,200,000
$
40,084,000
TABLE OF CONTENTS
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
DESCRIPTION OF SECURITIES
INTERESTS OF NAMED EXPERTS AND COUNSEL
INDEMNIFICATION OF DIRECTORS AND OFFICERS
EXEMPTION FROM REGISTRATION CLAIMED
EXHIBITS
UNDERTAKINGS
SIGNATURES
POWER OF ATTORNEY
EXHIBIT INDEX
EXHIBIT 5.1
EXHIBIT 23.1
EXHIBIT 99.2
EXHIBIT 99.4
EXHIBIT 99.5
Table of Contents
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The following documents filed by Photon Dynamics, Inc. (the "Company") with the Securities and
Exchange Commission ("SEC") are incorporated by reference into this Registration Statement:
(a)
The Company's Annual Report on Form 10-K for the Company's fiscal year ended September 30,
2004, filed with the SEC on December 14, 2004, as amended by Amendment No. 1 thereto filed with the
SEC on December 22, 2004, Amendment No. 2 thereto filed with the SEC on January 28, 2005, and
Amendment No. 3 thereto filed with the SEC on August 9, 2005;
(b)
The Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2004, filed
with the SEC on February 9, 2005, as amended by Amendment No. 1 thereto filed with the SEC on
August 9, 2005;
(c)
The Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2005, filed
with the SEC on August 9, 2005;
(d)
The Company's Quarterly Report on Form 10-Q for the quarter ended June 31, 2005, filed
with the SEC on August 9, 2005;
(e)
The Company's Current Reports on Form 8-K filed with the SEC on October 14, 2004 (with
respect to Item 5.02 only), October 29, 2004, November 5, 2004, December 6, 2004, December 20,
2004, December 27, 2004, March 9, 2005, April 11, 2005, April 21, 2005, May 4, 2005, May 6, 2005
and May 12, 2005; and
(f)
The description of the Company's Common Stock contained in the registration statement on
Form 8-A (File No. 000-27234), filed with the SEC on November 14, 1995 under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), as amended by the Company's Post-Effective
Amendment No. 1 to Form S-3 on Form S-1 (File No. 333-67622), filed with the SEC on May 24, 2002.
All reports and other documents subsequently filed by the Company pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference herein and to be a part of this
registration statement from the date of the filing of such reports and documents.
DESCRIPTION OF SECURITIES
Not applicable.
INTERESTS OF NAMED EXPERTS AND COUNSEL
Not applicable.
INDEMNIFICATION OF DIRECTORS AND OFFICERS
Our Bylaws provide that we will indemnify our directors and officers to the fullest extent not
prohibited by California law. We are also empowered under our Articles of Incorporation and Bylaws
to enter into indemnification contracts with our directors, officers, employees and agents and to
purchase insurance on behalf of any person whom we are required or permitted to indemnify. Pursuant
to this provision, we have entered into indemnity agreements with each of our directors and
officers.
In addition, our Articles of Incorporation provide that, to the fullest extent permitted by
California law, our directors will not be liable for monetary damages for breach of the directors'
fiduciary duty of care to us and our
Table of Contents
shareholders. This provision in the Articles of Incorporation
does not eliminate the duty of care, and in appropriate circumstances, equitable remedies such as
an injunction or other forms of non-monetary relief would remain available under California law.
Each director will continue to be subject to liability for breach of the director's duty of loyalty
to us, for acts or omissions not in good faith or involving intentional misconduct or knowing and
culpable violations of law, that the director believes to be contrary to the best interests of the
Company or our shareholders, involving a reckless disregard for the director's duty to the Company
or our shareholders when the director was aware or should have been aware of a risk of serious
injury to the Company or our shareholders, or an unexcused pattern of inattention that amounts to
an abdication of the director's duty to the Company or our shareholders, for improper transactions
between the director and the Company and for improper distributions to shareholders and loans to
directors and officers or for acts or omissions by the director as an officer. This provision also
does not affect a director's responsibilities under any other laws, such as the federal securities
laws or state or federal environmental laws.
There is no pending litigation or proceeding involving a director, officer, employee or other
agent of the Company as to which indemnification is being sought, nor is the Company aware of any
pending or threatened litigation that may result in claims for indemnification by any director,
officer, employee or other agent.
EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
EXHIBITS
Exhibit
Number
5.1
Opinion of Cooley Godward
llp
23.1
Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm
23.2
Consent of Cooley Godward
llp
(contained in Exhibit 5.1)
24.1
Power of Attorney (contained on the signature page)
99.1
2005 Equity Incentive Plan (1)
99.2
Form of Stock Option Agreement under the 2005 Equity Incentive Plan
99.3
2005 Employee Stock Purchase Plan (1)
99.4
2005 Non-Employee Directors' Stock Option Plan
99.5
Form of Stock Option Agreement under the 2005 Non-Employee Directors' Stock Option Plan
(1)
Filed as an exhibit to the Company's Current Report on Form 8-K filed with the SEC on March 9,
2005.
UNDERTAKINGS
1.
The undersigned registrant hereby undertakes:
(a)
To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
Table of Contents
(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 the
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 the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the Commission pursuant to Rule 424(b) (§ 230.424(b) of this
chapter) if, in the aggregate, the changes in volume and price represent no more than a 20% change
in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in
the effective registration statement.
(iii)
To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such information in
the registration statement;
Provided, however,
that paragraphs (a)(i) and (a)(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 by the issuer pursuant to section 13 or section 15(d) of the Exchange Act that are
incorporated by reference herein.
(b)
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 herein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
(c)
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.
2.
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 the Registration Statement shall be deemed to be a new
registration statement relating to the securities offered herein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.
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
Securities and Exchange 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.
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of San Jose, State of California, on August
11, 2005.
PHOTON DYNAMICS, INC.
By:
/s/
Maureen L. Lamb
Maureen L. Lamb
Chief Financial Officer and Secretary
POWER OF ATTORNEY
Know All Persons By These Presents
,
that each person whose signature appears below
constitutes and appoints Jeffrey A. Hawthorne and Maureen L. Lamb, and each or any one of them, his
true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for
him and in his 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 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 substitutes or substitute, may lawfully do or cause to be done by virtue hereof.
Table of Contents
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/
Jeffrey A. Hawthorne
Jeffrey A. Hawthorne
Chief
Executive Officer
and President;
Director (Principal
Executive Officer)
August 8, 2005
/s/
Maureen L. Lamb
Maureen L. Lamb
Chief
Financial Officer
and Secretary
(Principal
Financial and
Accounting Officer)
August 11, 2005
/s/
Malcolm J. Thompson
Malcolm J. Thompson
Executive
Chairman of the
Board of Directors;
Director
August 11, 2005
/s/
E. Floyd Kvamme
E. Floyd Kvamme
Director
August 11, 2005
/s/
Nicholas E. Brathwaite
Nicholas E. Brathwaite
Director
August 8, 2005
Michael J. Kim
Director
/s/    Terry H. Carlitz
Terry H. Carlitz
Director
August 11, 2005
/s/
Curtis S. Wozniak
Curtis S. Wozniak
Director
August 11, 2005
Table of Contents
EXHIBIT INDEX
Exhibit
Number
Description
5.1
Opinion of Cooley Godward
llp
23.1
Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm
23.2
Consent of Cooley Godward
llp
(contained in Exhibit 5.1)
24.1
Power of Attorney (contained on the signature page)
99.1
2005 Equity Incentive Plan (1)
99.2
Form of Stock Option Agreement under the 2005 Equity Incentive Plan
99.3
2005 Employee Stock Purchase Plan (1)
99.4
2005 Non-Employee Directors' Stock Option Plan
99.5
Form of Stock Option Agreement under the 2005 Non-Employee Directors' Stock
Option Plan
(1)
Filed as an exhibit to the Company's Current Report on Form 8-K filed with the SEC on March
9, 2005.