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     <!-- Control Number: KE5040                                                           -->
     <!-- Rev Number:                                                                      -->
     <!-- Client Name:    Kendle International Inc.                                        -->
     <!-- Project Name:   Form S-8 for Directors' Compensation Plan                        -->
     <!-- Firm Name:      KMK                                                              -->
     <TITLE>Form S-8 for Directors' Compensation Plan</TITLE>
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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>As filed with the
Securities and Exchange Commission on August 22, 2003 </FONT></P>

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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registration No. 333- </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES AND
EXCHANGE COMMISSION <BR>Washington, D.C. 20549 </FONT></H1><BR><BR>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM S-8<BR>
REGISTRATION STATEMENT<BR>UNDER<BR>THE SECURITIES ACT OF 1933 </FONT></H1><BR>

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<TR VALIGN="TOP">
     <TD WIDTH="34%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>&nbsp;Incorporated <BR>
Under the Laws<BR>
&nbsp;&nbsp;&nbsp;&nbsp;of Ohio </B>
</FONT></TD>
     <TD WIDTH="33%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>&nbsp;KENDLE INTERNATIONAL INC.<BR>
441 VINE STREET, SUITE 700<BR>
&nbsp;&nbsp;CINCINNATI, OHIO 45202  <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(513) 771-8221</B>
</FONT></TD>
     <TD WIDTH="33%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>&nbsp;&nbsp;I.R.S. Employer<BR>
Identification No.<BR>
&nbsp;&nbsp;&nbsp;&nbsp;31-1274091</B>
</FONT></TD></TR>
</TABLE>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2003 DIRECTORS&#146;
COMPENSATION PLAN </FONT></H1>
<BR>
<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Gary P. Kreider, Esq.<BR>
Keating, Muething &amp; Klekamp, P.L.L.<BR>
One East Fourth Street<BR>
Cincinnati, Ohio 45202<BR>
Phone: (513) 579-6411<BR>
Facsimile (513) 579-6956</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TH></TR>
<TR VALIGN="TOP">
     <TD WIDTH="34%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD WIDTH="33%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Agent for Service of Process)
</FONT></TD>
     <TD WIDTH="33%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD></TR>
</TABLE>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CALCULATION OF
REGISTRATION FEE </FONT></H1>

<BR>
<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title of<BR>
Securities<BR>
To Be Registered</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Amount<BR>
To Be<BR>
Registered(1)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Offering<BR>
Price<BR>
Per Share(2)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Proposed<BR>
Maximum<BR>
Aggregate<BR>
Offering<BR>
Price(2)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Proposed<BR>
Maximum<BR>
Amount of<BR>
Registration<BR>
Fee(3)</FONT><HR WIDTH=90% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN="TOP">
     <TD WIDTH="20%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Common Stock,<BR>
No par value
</FONT></TD>
     <TD WIDTH="20%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">25,000 Shares
</FONT></TD>
     <TD WIDTH="20%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$4.65
</FONT></TD>
     <TD WIDTH="20%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$116,250
</FONT></TD>
     <TD WIDTH="20%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">$9.40
</FONT></TD></TR>
</TABLE>
<BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          This Registration Statement is filed for up to 25,000 shares issuable pursuant
          to the Kendle International Inc. 2003 Directors&#146; Compensation Plan. Up to
          75,000 shares are authorized for issuance under this plan; however, the
          registrant is limiting this registration to 25,000 shares until its shareholders
          approve the Plan and all 75,000 shares issuable thereunder. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Estimated to calculate registration fee. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Calculated pursuant to Rule 457(h) based on the average of the high and low
          prices of the Common Stock on the Nasdaq National Market on August 15, 2003 of
          $4.65 per share. </FONT></TD>
          </TR>
          </TABLE>
          <BR>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PART II<BR><BR>INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</FONT></H1>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 3.&nbsp;&nbsp;&nbsp; Incorporation of
Documents by Reference </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following documents filed by Kendle International Inc. with the Securities and Exchange
Commission are incorporated herein by reference and made a part hereof:  </FONT></P>


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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Company&#146;s Annual Report on Form 10-K for the fiscal year ended December
               31, 2002. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Company&#146;s Quarterly Reports on Form 10-Q for the fiscal quarters ended
               March 31, 2003 and June 30, 2003. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Company&#146;s Current Reports on Form 8-K filed on January 3, 2003, May 2,
               2003 and June 13, 2003. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4. </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The description of the Common Stock contained in the Registration Statement on
               Form 8-A filed by the Company with the Commission on August 22, 1997. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
reports and other documents subsequently filed by the Company pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a
post-effective amendment which indicates that all Common Stock offered has been sold or
which deregisters all Common Stock 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 filing such documents. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 4.&nbsp;&nbsp;&nbsp; Description of
Securities </FONT></H1>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
Applicable.</FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 5.&nbsp;&nbsp;&nbsp; Interests of
Named Experts and Counsel </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
legality of the Common Stock offered hereby will be passed upon for the Company by
Keating, Muething &amp; Klekamp, P.L.L., 1400 Provident Tower, One East Fourth Street,
Cincinnati, Ohio 45202. Attorneys of Keating, Muething &amp; Klekamp, P.L.L. participating
in matters relating to this Form S-8 own approximately 5,500 shares of the
Company&#146;s Common Stock. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 6. &nbsp;&nbsp;&nbsp;Indemnification
of Directors and Officers </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ohio
Revised Code, Section 1701.13(E), allows indemnification by the registrant to any person
made or threatened to be made a party to any proceedings, other than a proceeding by or in
the right of the registrant, by reason of the fact that he is or was a director, officer,
employee or agent of the registrant, against expenses, including judgment and fines, if he
acted in good faith and in a manner reasonably believed to be in or not opposed to the
best interests of the registrant and, with respect to criminal actions, in which he had no
reasonable cause to believe that his conduct was unlawful. Similar provisions apply to
actions brought by or in the right of the registrant, except that no indemnification shall
be made in such cases when the person shall have been adjudged to be liable for negligence
or misconduct to the registrant unless deemed otherwise by the court. Indemnification is
to be made by a majority vote of a quorum of disinterested directors or the written
opinion of independent counsel or by the shareholders or by the court. The
registrant&#146;s Amended and Restated Code of Regulations extends such indemnification,
and the registrant also has entered into indemnification agreements with individual
officers and directors. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
foregoing discussion is subject to the complete text of Section 1701.13(E) and is
qualified in its entirety by reference thereto. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 7.&nbsp;&nbsp;&nbsp; Exemption from
Registration Claimed </FONT></H1>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
Applicable.</FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 8.&nbsp;&nbsp;&nbsp; Exhibits </FONT></H1>

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<TR VALIGN="TOP">
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT> </TD>
     <TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Exhibit 4
</FONT></TD>
     <TD WIDTH="70%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">2003 Directors' Compensation Plan
</FONT></TD></TR>

<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT> </TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Exhibit 5
</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Opinion of Keating, Muething &amp; Klekamp, P.L.L.
</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT> </TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Exhibit 23.1
</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Consent of PricewaterhouseCoopers LLP
</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT> </TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Exhibit 23.2
</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Consent of Keating, Muething &amp; Klekamp, P.L.L. (included in Exhibit 5)
</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT> </TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Exhibit 24
</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Power of Attorney (contained in the signature page)
</FONT></TD></TR>
</TABLE>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* All Exhibits filed herewith unless
otherwise indicated </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.&nbsp;&nbsp;&nbsp; Undertakings </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;
The undersigned registrant hereby undertakes 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 of 1933; (ii) to
reflect in the prospectus any facts or events arising after the effective date of this
Registration Statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus filed with
the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and
price represent no more than 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; (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 (i) and
(ii) above 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 Securities
Exchange Act of 1934 that are incorporated by reference in the Registration Statement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;9.2&nbsp;&nbsp;&nbsp;
The undersigned registrant hereby undertakes that, for the purpose of determining any
liability under the Securities Act of 1933, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial bona fide
offering thereof. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3&nbsp;&nbsp;&nbsp;
The undersigned registrant hereby undertakes 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. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;9.4&nbsp;&nbsp;&nbsp;
The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant&#146;s annual
report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934
(and, where applicable, each filing of an employee benefit plan&#146;s annual report
pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by
reference in the Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5&nbsp;&nbsp;&nbsp;
Insofar as indemnification for liabilities arising under the Securities Act of 1933 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 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 Act and will be
governed by the final adjudication of such issue. </FONT></P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, 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 Cincinnati, Ohio, on July 15, 2003. </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>KENDLE INTERNATIONAL INC.</B><BR><BR>
<BR>BY: /s/ Candace Kendle<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Candace Kendle<BR>Chairman of the Board and<BR>Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&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. Persons
whose names are marked with an asterisk (*) below hereby designate Candace Kendle or Karl
Brenkert III as their attorney-in-fact to sign all amendments, including any
post-effective amendments, to this Registration Statement. </FONT></P>
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<TR VALIGN="TOP">
     <TD WIDTH="40%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Signature</U></FONT></TD>
     <TD WIDTH="35%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Capacity</U></FONT></TD>
     <TD WIDTH="25%" ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Date</U></FONT></TD></TR>
</TABLE>

<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ </FONT></TD>
<TD WIDTH=35% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Candace Kendle
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
*Candace Kendle</FONT></TD>
<TD WIDTH=35%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chairman of the Board and Chief
Executive Officer (Principal Executive Officer)</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 15, 2003</FONT></TD>
</TR>
</TABLE>
<BR>
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<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ </FONT></TD>
<TD WIDTH=35% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Christopher C. Bergen
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
*Christopher C. Bergen</FONT></TD>
<TD WIDTH=35%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>
President,  Chief  Operating  Officer and Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 15, 2003</FONT></TD>
</TR>
</TABLE>
<BR>
<!-- MARKER FORMAT-SHEET="Signature 3 Col w/tags" FSL="Workstation" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ </FONT></TD>
<TD WIDTH=35% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Karl Brenkert III
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
*Karl Brenkert III</FONT></TD>
<TD WIDTH=35%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>
Senior Vice President, Chief Financial Officer and<BR>
Treasurer (principal financial officer and<BR>
 principal accounting officer)</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 15, 2003</FONT></TD>
</TR>
</TABLE>
<BR>
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<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ </FONT></TD>
<TD WIDTH=35% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Philip E. Beekman
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
*Philip E. Beekman</FONT></TD>
<TD WIDTH=35%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 15, 2003</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ </FONT></TD>
<TD WIDTH=35% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Robert R. Buck
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
*Robert R. Buck</FONT></TD>
<TD WIDTH=35%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 21, 2003</FONT></TD>
</TR>
</TABLE>
<BR>
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<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ </FONT></TD>
<TD WIDTH=35% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>G.
Steven Geis, Ph.D., M.D.
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
*G. Steven Geis, Ph.D., M.D.</FONT></TD>
<TD WIDTH=35%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 15, 2003</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ </FONT></TD>
<TD WIDTH=35% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Donald C. Harrison, M.D.
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
*Donald C. Harrison, M.D.</FONT></TD>
<TD WIDTH=35%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 15, 2003</FONT></TD>
</TR>
</TABLE>
<BR>
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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ </FONT></TD>
<TD WIDTH=35% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Timothy E. Johnson,
Ph.D.
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
*Timothy E. Johnson, Ph.D.</FONT></TD>
<TD WIDTH=35%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 21, 2003</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ </FONT></TD>
<TD WIDTH=35% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Frederick A. Russ,
Ph.D.
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
*Frederick A. Russ, Ph.D.</FONT></TD>
<TD WIDTH=35%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 30, 2003</FONT></TD>
</TR>
</TABLE>
<BR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ </FONT></TD>
<TD WIDTH=35% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Robert C. Simpson
<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
*Robert C. Simpson</FONT></TD>
<TD WIDTH=35%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>July 29, 2003</FONT></TD>
</TR>
</TABLE>
<BR>
</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "forms8082203.htm", "description": "FORM S-8 FOR DIRECTORS' COMPENSATION PLAN", "secsgml_size_bytes": 31695}]
{"company-data": {"conformed-name": "KENDLE INTERNATIONAL INC", "cik": "0001039151", "assigned-sic": "8731", "irs-number": "311274091", "state-of-incorporation": "OH", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-108163", "film-number": "03862467"}, "business-address": {"street1": "441 VINE ST", "street2": "STE 700", "city": "CINCINNATI", "state": "OH", "zip": "45202", "phone": "5137631414"}, "mail-address": {"street1": "700 CAREW TOWER", "city": "CINCINNATI", "state": "OH", "zip": "45202"}}
Form S-8 for Directors' Compensation Plan
As filed with the
Securities and Exchange Commission on August 22, 2003
Registration No. 333-
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Incorporated
Under the Laws
of Ohio
KENDLE INTERNATIONAL INC.
441 VINE STREET, SUITE 700
CINCINNATI, OHIO 45202
(513) 771-8221
I.R.S. Employer
Identification No.
31-1274091
2003 DIRECTORS'
COMPENSATION PLAN
Gary P. Kreider, Esq.
Keating, Muething & Klekamp, P.L.L.
One East Fourth Street
Cincinnati, Ohio 45202
Phone: (513) 579-6411
Facsimile (513) 579-6956
(Agent for Service of Process)
CALCULATION OF
REGISTRATION FEE
Title of
Securities
To Be Registered
Amount
To Be
Registered(1)
Offering
Price
Per Share(2)
Proposed
Maximum
Aggregate
Offering
Price(2)
Proposed
Maximum
Amount of
Registration
Fee(3)
Common Stock,
No par value
25,000 Shares
$4.65
$116,250
$9.40
(1)
This Registration Statement is filed for up to 25,000 shares issuable pursuant
          to the Kendle International Inc. 2003 Directors' Compensation Plan. Up to
          75,000 shares are authorized for issuance under this plan; however, the
          registrant is limiting this registration to 25,000 shares until its shareholders
          approve the Plan and all 75,000 shares issuable thereunder.
(2)
Estimated to calculate registration fee.
(3)
Calculated pursuant to Rule 457(h) based on the average of the high and low
          prices of the Common Stock on the Nasdaq National Market on August 15, 2003 of
          $4.65 per share.
PART II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item 3.    Incorporation of
Documents by Reference
The
following documents filed by Kendle International Inc. with the Securities and Exchange
Commission are incorporated herein by reference and made a part hereof:
1.
The Company's Annual Report on Form 10-K for the fiscal year ended December
               31, 2002.
2.
The Company's Quarterly Reports on Form 10-Q for the fiscal quarters ended
               March 31, 2003 and June 30, 2003.
3.
The Company's Current Reports on Form 8-K filed on January 3, 2003, May 2,
               2003 and June 13, 2003.
4.
The description of the Common Stock contained in the Registration Statement on
               Form 8-A filed by the Company with the Commission on August 22, 1997.
All
reports and other documents subsequently filed by the Company pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a
post-effective amendment which indicates that all Common Stock offered has been sold or
which deregisters all Common Stock 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 filing such documents.
Item 4.    Description of
Securities
Not
Applicable.
Item 5.    Interests of
Named Experts and Counsel
The
legality of the Common Stock offered hereby will be passed upon for the Company by
Keating, Muething & Klekamp, P.L.L., 1400 Provident Tower, One East Fourth Street,
Cincinnati, Ohio 45202. Attorneys of Keating, Muething & Klekamp, P.L.L. participating
in matters relating to this Form S-8 own approximately 5,500 shares of the
Company's Common Stock.
Item 6.    Indemnification
of Directors and Officers
Ohio
Revised Code, Section 1701.13(E), allows indemnification by the registrant to any person
made or threatened to be made a party to any proceedings, other than a proceeding by or in
the right of the registrant, by reason of the fact that he is or was a director, officer,
employee or agent of the registrant, against expenses, including judgment and fines, if he
acted in good faith and in a manner reasonably believed to be in or not opposed to the
best interests of the registrant and, with respect to criminal actions, in which he had no
reasonable cause to believe that his conduct was unlawful. Similar provisions apply to
actions brought by or in the right of the registrant, except that no indemnification shall
be made in such cases when the person shall have been adjudged to be liable for negligence
or misconduct to the registrant unless deemed otherwise by the court. Indemnification is
to be made by a majority vote of a quorum of disinterested directors or the written
opinion of independent counsel or by the shareholders or by the court. The
registrant's Amended and Restated Code of Regulations extends such indemnification,
and the registrant also has entered into indemnification agreements with individual
officers and directors.
The
foregoing discussion is subject to the complete text of Section 1701.13(E) and is
qualified in its entirety by reference thereto.
Item 7.    Exemption from
Registration Claimed
Not
Applicable.
Item 8.    Exhibits
Exhibit 4
2003 Directors' Compensation Plan
Exhibit 5
Opinion of Keating, Muething & Klekamp, P.L.L.
Exhibit 23.1
Consent of PricewaterhouseCoopers LLP
Exhibit 23.2
Consent of Keating, Muething & Klekamp, P.L.L. (included in Exhibit 5)
Exhibit 24
Power of Attorney (contained in the signature page)
* All Exhibits filed herewith unless
otherwise indicated
Item 9.    Undertakings
9.1   
The undersigned registrant hereby undertakes 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 of 1933; (ii) to
reflect in the prospectus any facts or events arising after the effective date of this
Registration Statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus filed with
the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and
price represent no more than 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 (i) and
(ii) above 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 Securities
Exchange Act of 1934 that are incorporated by reference in the Registration Statement.
9.2   
The undersigned registrant hereby undertakes that, for the purpose of determining any
liability under the Securities Act of 1933, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial bona fide
offering thereof.
9.3   
The undersigned registrant hereby undertakes 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.
9.4   
The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant's annual
report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934
(and, where applicable, each filing of an employee benefit plan's annual report
pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by
reference in the Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.
9.5   
Insofar as indemnification for liabilities arising under the Securities Act of 1933 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 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 Act and will be
governed by the final adjudication of such issue.
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, 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 Cincinnati, Ohio, on July 15, 2003.
KENDLE INTERNATIONAL INC.
BY: /s/ Candace Kendle
——————————————
Candace Kendle
Chairman of the Board and
Chief Executive Officer
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. Persons
whose names are marked with an asterisk (*) below hereby designate Candace Kendle or Karl
Brenkert III as their attorney-in-fact to sign all amendments, including any
post-effective amendments, to this Registration Statement.
Signature
Capacity
Date
/s/
Candace Kendle
————————————————
*Candace Kendle
Chairman of the Board and Chief
Executive Officer (Principal Executive Officer)
July 15, 2003
/s/
Christopher C. Bergen
————————————————
*Christopher C. Bergen
President,  Chief  Operating  Officer and Director
July 15, 2003
/s/
Karl Brenkert III
————————————————
*Karl Brenkert III
Senior Vice President, Chief Financial Officer and
Treasurer (principal financial officer and
principal accounting officer)
July 15, 2003
/s/
Philip E. Beekman
————————————————
*Philip E. Beekman
Director
July 15, 2003
/s/
Robert R. Buck
————————————————
*Robert R. Buck
Director
July 21, 2003
/s/
G.
Steven Geis, Ph.D., M.D.
————————————————
*G. Steven Geis, Ph.D., M.D.
Director
July 15, 2003
/s/
Donald C. Harrison, M.D.
————————————————
*Donald C. Harrison, M.D.
Director
July 15, 2003
/s/
Timothy E. Johnson,
Ph.D.
————————————————
*Timothy E. Johnson, Ph.D.
Director
July 21, 2003
/s/
Frederick A. Russ,
Ph.D.
————————————————
*Frederick A. Russ, Ph.D.
Director
July 30, 2003
/s/
Robert C. Simpson
————————————————
*Robert C. Simpson
Director
July 29, 2003