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     <!-- Control Number: MI1340                                                           -->
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     <!-- Client Name:    The Midland Company                                              -->
     <!-- Project Name:   Form S-8                                                         -->
     <!-- Firm Name:      KMK                                                              -->
     <TITLE>Form S-8</TITLE>
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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
<BR><B>As
filed with the Securities and Exchange Commission on April 27, 2006</B> </FONT></P>

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<H1 ALIGN="Right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registration No. 333-_________ </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>UNITED STATES<BR>SECURITIES AND
EXCHANGE COMMISSION</FONT><BR><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Washington, D.C. 20549 </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>FORM S-8<BR>
REGISTRATION STATEMENT</FONT><BR><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>UNDER<BR>THE SECURITIES ACT OF
1933</I> </FONT></H1><BR><BR>

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<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=5><B>THE MIDLAND COMPANY</B></FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=1>(Exact name of Registrant as Specified in its Charter)
</FONT></P>

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     <TH ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Ohio</FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">31-0742526</FONT></TH></TR>
<TR VALIGN="TOP">
     <TD ALIGN="CENTER" WIDTH="33%"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">
(State or Other Jurisdiction of<BR>
Incorporation or Organization)
</FONT></TD>
     <TD ALIGN="CENTER" WIDTH="34%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;
</FONT></TD>
     <TD ALIGN="CENTER" WIDTH="33%"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">(I.R.S. Employer Identification<BR>
Number)
</FONT></TD></TR>
</TABLE>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>7000 Midland Boulevard<BR>
Amelia, Ohio 45102-2607<BR>(513) 943-7100 </B></FONT><BR><FONT FACE="Times New Roman, Times, Serif" SIZE=1>
 (Address, Including Zip Code, and Telephone Number,<BR>Including Area Code, of Registrants' Principal Executive Offices)</FONT></P>


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<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><b>2006 EMPLOYEE STOCK
SERVICE AWARD PLAN</B> </FONT><BR><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(Full Title of the Plan) </FONT></P>

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     <P ALIGN=CENTER>_________________ </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Joseph P. Hayden, III<BR>
The Midland Company<BR>7000 Midland Boulevard<BR>Amelia, Ohio 45102-2607<BR>
Telephone: (513) 943-7100<BR>Facsimile: (513) 943-7111</B> </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=1>(Name, Address and
Telephone Number of Agent for Service) </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Copies of all
communications to: </I></FONT></P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>F. Mark Reuter, Esq.<BR>
Keating Muething &amp;
Klekamp PLL<BR>One East Fourth
Street, Suite 1400<BR>Cincinnati, Ohio 45202<BR>Telephone: (513)
579-6469<BR>Facsimile: (513) 579-6457 </FONT></H1>

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


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<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Title of each class of securities<BR>
to be registered</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amount to be<BR>
Registered</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proposed maximum<BR>
offering<BR>
price Per Share</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proposed maximum<BR>
aggregate offering<BR>
price</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amount of<BR>
registration fee</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH="29%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common Stock</FONT></TD>
     <TD WIDTH="1%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="14%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>20,000 shares</FONT></TD>
     <TD WIDTH="5%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="10%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$36.25(1)</FONT></TD>
        <TD WIDTH="7%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$725,000(1)</FONT></TD>
        <TD WIDTH="4%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="10%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$78</FONT></TD>
        <TD WIDTH="7%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</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>(1) </FONT></TD>
               <TD WIDTH=90%><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>&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>
               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 April 26, 2006 of
               $36.25 per share. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Exhibit Index appears after the
Signature Page of this registration statement. </FONT></P>


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

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>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 Registrant 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>
          Registrant&#146;s Annual Report on Form 10-K for the fiscal year ended December
          31, 2005. </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>
          Registrant&#146;s Current Reports on Form 8-K filed on March 7, 2006 and April
          11, 2006. </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 description of Registrant&#146;s Common Stock, which is contained in a
          registration statement filed on Form S-3, by Registrant with the Commission on
          September 22, 2005, registration number 333-128492. </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 Registrant 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;William
J. Keating, Jr., a director and beneficial owner of securities of the Registrant, is also
a partner in the law firm of Keating Muething &amp; Klekamp PLL, which passed upon the
validity of the securities that may be offered under the Plan. </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 in the performance of such person&#146;s duty 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. Registrant&#146;s Code of Regulations provides that it shall
indemnify its directors and officers to the fullest extent not prohibited by law.
Additionally, Registrant maintains director and officer liability insurance which provides
coverage against certain liabilities. </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><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&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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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Exhibits to this registration statement are listed in the Index to Exhibits which
immediately follows the signature pages hereto. </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: </FONT></P>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=5%></TD>
               <TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               To file during any period in which offers or sales are being made, a
               post-effective amendment to this Registration Statement: </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=10%></TD>
               <TD WIDTH=90%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(i)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               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; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               that, for the purpose of determining any liability under the Securities Act of
               1933, each such post-effective amendment shall be deemed to be a new
               registration statement relating to the securities offered therein, and the
               offering of such securities at that time shall be deemed to be the initial bona
               fide offering thereof; and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=10%></TD>
               <TD WIDTH=90%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               to remove from registration by means of a post-effective amendment any of the
               securities being registered which remain unsold at the termination of the
               offering; </FONT></P></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;9.2&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;9.3&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><B>The</B> <B>Registrant.</B>
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 the City of Cincinnati, State of Ohio, on April
27, 2006. </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>THE MIDLAND COMPANY<BR><BR>
<BR>BY: /s/ John I. Von Lehman<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John I. Von Lehman<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Executive Vice President, Chief<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial and Accounting Officer and<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secretary</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. Each person
whose signature appears below marked with an asterisk hereby authorizes Joseph P. Hayden,
III or John I. Von Lehman as attorney-in-fact to sign on his or her behalf individually
and in each capacity indicated below, any amendments, including post-effective amendments,
to this Registration Statement. </FONT></P>




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<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Signature</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Title</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ James E. Bushman
&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;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;James E. Bushman</FONT></TD></TR>

<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ James H. Carey
&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;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;James H. Carey</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ Michael J. Conaton
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Michael J. Conaton</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/Jerry A. Grundhofer
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Jerry A. Grundhofer</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ Joseph P. Hayden, Jr.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Joseph P. Hayden, Jr.</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ Joseph P. Hayden, III
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chairman of the Board,
Chief Operating</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Top>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Joseph P.  Hayden, III</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Officer and Director</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ John W. Hayden
&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;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>President, Chief Executive
Officer and Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Top>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;John W. Hayden</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Principal Executive Officer)</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ William T. Hayden
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;William T. Hayden</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ William J. Keating
&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;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;William J. Keating</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ John R. LaBar
&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;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;John R. LaBar</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ Richard M. Norman
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Richard M. Norman</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ David B. O'Maley
&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;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;David B. O'Maley</FONT></TD></TR>

<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ John M. O'Mara
&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;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;John M. O'Mara</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ Rene J. Robichaud
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Rene J. Robichaud</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ Glenn E. Schembechler
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Glenn E. Schembechler</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ Marie Francis Thrailkill, OSU Ed.D</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;Marie Francis Thrailkill, OSU Ed.D</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN=bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*<u>/s/ John I. Von Lehman
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></TD>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chief Financial and Accounting
Officer and Secretary</FONT></TD>
     <TD WIDTH="20%" ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 27, 2006</FONT></TD></TR>
<TR VALIGN=Top>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;John I. Von Lehman</FONT></TD>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Principal Financial Officer and
Principal Accounting Officer) and Director</FONT></TD></TR>
</TABLE>


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

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 4.1</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Registrant&#146;s Articles of Incorporation (incorporated by reference to Exhibit 3(i)
to the Registrant&#146;s Form 10-Q for the quarter ended June 30, 1998)* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 4.2</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Registrant&#146;s Code of Regulations, amended and restated (incorporated by reference
to Exhibit&nbsp;3(ii) of Registrant&#146;s Form 10-Q for the quarter ended June&nbsp;30,
2000)* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 4.3</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Midland Company 2006 Employee Stock Service Award Plan </FONT></TD>
</TR>
</TABLE>
<BR>
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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 5</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Opinion of Keating Muething &amp; Klekamp PLL</FONT></TD>
</TR>
</TABLE>
<BR>
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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 23.1</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Consent of Deloitte &amp; Touche LLP </FONT></TD>
</TR>
</TABLE>
<BR>
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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 23.2</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent of Keating Muething &amp; Klekamp PLL (contained in Exhibit 5)*
 </FONT></TD>
</TR>
</TABLE>
<BR>
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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 24</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Power of Attorney (contained in the signature page)* </FONT></TD>
</TR>
</TABLE>
<BR>


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<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>

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

</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "forms8042706.htm", "description": "FORM S-8", "secsgml_size_bytes": 40012}]
{"company-data": {"conformed-name": "MIDLAND CO", "cik": "0000066025", "assigned-sic": "6331", "irs-number": "310742526", "state-of-incorporation": "OH", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-133596", "film-number": "06784991"}, "business-address": {"street1": "7000 MIDLAND BLVD", "street2": "N/A", "city": "AMELIA", "state": "OH", "zip": "45102-2607", "phone": "5139437100"}, "mail-address": {"street1": "N/A", "street2": "P O BOX 1256", "city": "CINCINNATI", "state": "OH", "zip": "45201"}}
Form S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
As
filed with the Securities and Exchange Commission on April 27, 2006
Registration No. 333-_________
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF
1933
THE MIDLAND COMPANY
(Exact name of Registrant as Specified in its Charter)
Ohio
31-0742526
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer Identification
Number)
7000 Midland Boulevard
Amelia, Ohio 45102-2607
(513) 943-7100
(Address, Including Zip Code, and Telephone Number,
Including Area Code, of Registrants' Principal Executive Offices)
2006 EMPLOYEE STOCK
SERVICE AWARD PLAN
(Full Title of the Plan)
_________________
Joseph P. Hayden, III
The Midland Company
7000 Midland Boulevard
Amelia, Ohio 45102-2607
Telephone: (513) 943-7100
Facsimile: (513) 943-7111
(Name, Address and
Telephone Number of Agent for Service)
Copies of all
communications to:
F. Mark Reuter, Esq.
Keating Muething &
Klekamp PLL
One East Fourth
Street, Suite 1400
Cincinnati, Ohio 45202
Telephone: (513)
579-6469
Facsimile: (513) 579-6457
CALCULATION OF
REGISTRATION FEE
Title of each class of securities
to be registered
Amount to be
Registered
Proposed maximum
offering
price Per Share
Proposed maximum
aggregate offering
price
Amount of
registration fee
Common Stock
20,000 shares
$36.25(1)
$725,000(1)
$78
(1)
Estimated to calculate registration fee.
(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 April 26, 2006 of
               $36.25 per share.
The Exhibit Index appears after the
Signature Page of this registration statement.
PART II
INFORMATION REQUIRED
IN THE REGISTRATION STATEMENT
Item 3.    Incorporation of Documents
by Reference.
The
following documents filed by Registrant with the Securities and Exchange Commission are
incorporated herein by reference and made a part hereof:
1.
Registrant's Annual Report on Form 10-K for the fiscal year ended December
          31, 2005.
2.
Registrant's Current Reports on Form 8-K filed on March 7, 2006 and April
          11, 2006.
3.
The description of Registrant's Common Stock, which is contained in a
          registration statement filed on Form S-3, by Registrant with the Commission on
          September 22, 2005, registration number 333-128492.
All
reports and other documents subsequently filed by Registrant 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.
William
J. Keating, Jr., a director and beneficial owner of securities of the Registrant, is also
a partner in the law firm of Keating Muething & Klekamp PLL, which passed upon the
validity of the securities that may be offered under the Plan.
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 in the performance of such person's duty 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. Registrant's Code of Regulations provides that it shall
indemnify its directors and officers to the fullest extent not prohibited by law.
Additionally, Registrant maintains director and officer liability insurance which provides
coverage against certain liabilities.
Item 7.    Exemption from
Registration Claimed.
Not
applicable.
Item 8.    Exhibits.
The
Exhibits to this registration statement are listed in the Index to Exhibits which
immediately follows the signature pages hereto.
Item 9.    Undertakings.
9.1   
The undersigned Registrant hereby undertakes:
(1)       
               To file during any period in which offers or sales are being made, a
               post-effective amendment to this Registration Statement:
(i)
       
               to include any 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;
(ii)       
               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; and
(iii)       
               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;
9.2   
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.
9.3   
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
The
Registrant.
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 the City of Cincinnati, State of Ohio, on April
27, 2006.
THE MIDLAND COMPANY
BY: /s/ John I. Von Lehman
——————————————
John I. Von Lehman
Executive Vice President, Chief
Financial and Accounting Officer and
Secretary
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. Each person
whose signature appears below marked with an asterisk hereby authorizes Joseph P. Hayden,
III or John I. Von Lehman as attorney-in-fact to sign on his or her behalf individually
and in each capacity indicated below, any amendments, including post-effective amendments,
to this Registration Statement.
Signature
Title
Date
*
/s/ James E. Bushman
Director
April 27, 2006
James E. Bushman
*
/s/ James H. Carey
Director
April 27, 2006
James H. Carey
*
/s/ Michael J. Conaton
Director
April 27, 2006
Michael J. Conaton
*
/s/Jerry A. Grundhofer
Director
April 27, 2006
Jerry A. Grundhofer
*
/s/ Joseph P. Hayden, Jr.
Director
April 27, 2006
Joseph P. Hayden, Jr.
*
/s/ Joseph P. Hayden, III
Chairman of the Board,
Chief Operating
April 27, 2006
Joseph P.  Hayden, III
Officer and Director
*
/s/ John W. Hayden
President, Chief Executive
Officer and Director
April 27, 2006
John W. Hayden
(Principal Executive Officer)
*
/s/ William T. Hayden
Director
April 27, 2006
William T. Hayden
*
/s/ William J. Keating
Director
April 27, 2006
William J. Keating
*
/s/ John R. LaBar
Director
April 27, 2006
John R. LaBar
*
/s/ Richard M. Norman
Director
April 27, 2006
Richard M. Norman
*
/s/ David B. O'Maley
Director
April 27, 2006
David B. O'Maley
*
/s/ John M. O'Mara
Director
April 27, 2006
John M. O'Mara
*
/s/ Rene J. Robichaud
Director
April 27, 2006
Rene J. Robichaud
*
/s/ Glenn E. Schembechler
Director
April 27, 2006
Glenn E. Schembechler
*
/s/ Marie Francis Thrailkill, OSU Ed.D
Director
April 27, 2006
Marie Francis Thrailkill, OSU Ed.D
*
/s/ John I. Von Lehman
Chief Financial and Accounting
Officer and Secretary
April 27, 2006
John I. Von Lehman
(Principal Financial Officer and
Principal Accounting Officer) and Director
Index to Exhibits
Exhibit 4.1
Registrant's Articles of Incorporation (incorporated by reference to Exhibit 3(i)
to the Registrant's Form 10-Q for the quarter ended June 30, 1998)*
Exhibit 4.2
Registrant's Code of Regulations, amended and restated (incorporated by reference
to Exhibit 3(ii) of Registrant's Form 10-Q for the quarter ended June 30,
2000)*
Exhibit 4.3
The Midland Company 2006 Employee Stock Service Award Plan
Exhibit 5
Opinion of Keating Muething & Klekamp PLL
Exhibit 23.1
Consent of Deloitte & Touche LLP
Exhibit 23.2
Consent of Keating Muething & Klekamp PLL (contained in Exhibit 5)*
Exhibit 24
Power of Attorney (contained in the signature page)*
* All Exhibits are filed herewith
unless otherwise indicated.