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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">As filed with the Securities and Exchange Commission on August 10, 2010.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Registration no. 333-_______________</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="'Times New Roman,serif'">UNITED STATES SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="'Times New Roman,serif'">Washington, D.C.&nbsp; 20549</FONT></B></P>
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<P style="MARGIN: 6pt 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 16pt" face="'Times New Roman,serif'">FORM S-8</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" face="'Times New Roman,serif'">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 16pt" face="'Times New Roman,serif'">INSIGNIA SYSTEMS, INC.</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(Exact name of registrant as specified in its charter)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT style="FONT-SIZE: 11pt" face="'Times New Roman,serif'">41-1656308</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="'Times New Roman,serif'">(State or other jurisdiction of incorporation or organization)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="'Times New Roman,serif'">(IRS Employer Identification No.)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="'Times New Roman,serif'">8799 Brooklyn Blvd., Minneapolis, MN 55445</FONT></B></P>
<P style="MARGIN: 0in 2in 0pt 139.5pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;(Address of principal executive offices)</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">2003 Incentive Stock Option Plan </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(Full title of the plan)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="'Times New Roman,serif'">Scott F. Drill</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="'Times New Roman,serif'">President and Chief Executive Officer</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="'Times New Roman,serif'">Insignia Systems, Inc.</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="'Times New Roman,serif'">8799 Brooklyn Blvd., Minneapolis, MN 55445</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(Name and address of agent for service)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="'Times New Roman,serif'">(763) 392-6200</FONT></B></P>
<P style="MARGIN: 0in 45pt 0pt 40.5pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(Telephone number, including area code, of agent for service)&nbsp; </FONT></P>
<P style="MARGIN: 0in 45pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.&nbsp; See the definitions of &#147;large accelerated filer,&#148; &#147;accelerated filer,&#148; and &#147;smaller reporting company&#148; in Rule 12b-2 of the Exchange Act. (Check one):</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large accelerated filer&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Wingdings>&#168;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp; Accelerated filer&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Wingdings>&#168;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp; Non-accelerated filer&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Wingdings>&#254;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smaller reporting company&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Wingdings>&#168;</FONT></P>
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<P style="MARGIN: 0in 45pt 0in 40.5pt; TEXT-ALIGN: center"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">CALCULATION OF REGISTRATION FEE</FONT></B></P>
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<P style="MARGIN: 6pt 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 8pt" face="'Times New Roman,serif'">TITLE OF SECURITIES</FONT></P>
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<P style="MARGIN: 6pt 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 8pt" face="'Times New Roman,serif'">AMOUNT TO BE<BR>
REGISTERED (1)</FONT></P>
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<P style="MARGIN: 6pt 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 8pt" face="'Times New Roman,serif'">PROPOSED MAXIMUM OFFERING PRICE<BR>
PER SHARE (2)</FONT></P>
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<P style="MARGIN: 6pt 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 8pt" face="'Times New Roman,serif'">PROPOSED MAXIMUM<BR>
AGGREGATE OFFERING<BR>
PRICE (2)</FONT></P>
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<P style="MARGIN: 6pt 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 8pt" face="'Times New Roman,serif'">AMOUNT OF<BR>
REGISTRATION FEE</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Common Stock, par value<BR>
$.01 per share</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">250,000 shares</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">$6.325</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">$1,581,250</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">$112.73</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(1)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Includes 250,000 shares of common stock to be registered under the 2003 Incentive Stock Option Plan </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(2)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) under the Securities Act of 1933, based on the average of the high and low price per share reported on the Nasdaq Capital Market on August 4, 2010.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">PART I </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">INFORMATION REQUIRED IN </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">THE SECTION 10(a) PROSPECTUS </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">ITEM 1.&nbsp; PLAN INFORMATION </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Not required to be filed in the Registration Statement. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">ITEM 2.&nbsp; REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Not required to be filed in the Registration Statement. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">The documents containing the information specified in Part I of Form S-8 have been or will be sent or given to participating employees as specified in Rule 428(b)(1) of the Securities Act. Such documents are not being filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. These documents and the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act. </FONT></P>
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</DIV> <H1 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">PART II </FONT></B></H1>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">INFORMATION REQUIRED IN </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">THE REGISTRATION STATEMENT </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">ITEM 3.&nbsp; INCORPORATION OF DOCUMENTS BY REFERENCE </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">The following documents previously filed by the Registrant with the Securities and Exchange Commission are incorporated by reference into this Registration Statement: </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(a)&nbsp;&nbsp; Annual Report on Form 10-K/A for the year ended December 31, 2008, filed January 29, 2010;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(b)&nbsp;&nbsp; Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2009, filed January 29, 2010;</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(c)&nbsp;&nbsp; Quarterly Report on Form 10-Q/A for the quarter ended June 30, 2009, filed January 29, 2010;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(d)&nbsp;&nbsp; Current Report on Form 8-K, filed February 25, 2010;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(e)&nbsp;&nbsp; Current Report on Form 8-K, filed March 2, 2010;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(f)&nbsp;&nbsp;&nbsp; Current Report on Form 8-K, filed March 3, 2010:</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(g)&nbsp;&nbsp; Current Report on Form 8-K, filed March 19, 2010;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(h)&nbsp;&nbsp; Annual Report on Form 10-K for the fiscal year ended December 31, 2009, filed March 31, 2010;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(i)&nbsp;&nbsp;&nbsp; Current Report on Form 8-K, filed April 29, 2010;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(j)&nbsp;&nbsp;&nbsp; Current Report on Form 8-K, filed May 4, 2010;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(k)&nbsp;&nbsp; Quarterly Report on Form 10-Q for the quarter ended March 31, 2010, filed May 17, 2010;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(l)&nbsp;&nbsp;&nbsp; Current Report on Form 8-K, filed May 17, 2010;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(m)&nbsp; Current Report on Form 8-K, filed May 19, 2010;</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(n)&nbsp;&nbsp; Current Report on Form 8-K, filed June 2, 2010;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(o)&nbsp;&nbsp; Quarterly Report on Form 10-Q for the quarter ended June 30, 2010, filed August 9, 2010; </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(p)&nbsp;&nbsp; Description of Common Stock contained in a registration statement filed under the Securities Exchange Act, including any amendment or report filed for the purpose of updating such description.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">All documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, subsequent to the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities registered pursuant to this Registration Statement have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be part of it from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference to this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or incorporated herein by reference (or in any other subsequently filed documents which also is or is deemed to be incorporated by reference) modifies or supersedes such statement.&nbsp; Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">II - 1</FONT></P>
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</DIV> <H5 style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">ITEM 4.&nbsp; DESCRIPTION OF SECURITIES </FONT></B></H5>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Not Applicable. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">ITEM 5.&nbsp; INTERESTS OF NAMED EXPERTS AND COUNSEL </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Not Applicable. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">ITEM 6.&nbsp; INDEMNIFICATION OF DIRECTORS AND OFFICERS </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>Section 302A.521 of Minnesota Statutes requires the Registrant to indemnify a person made or threatened to be made a party to a proceeding by reason of the former or present official capacity of the person with respect to the Registrant, against judgments, penalties, fines, including, without limitation, excise taxes assessed against the person with respect to an employee benefit plan, settlements and reasonable expenses, including attorneys&#146; fees and disbursements, incurred by the person in connection with the proceeding, if such person (1) has not been indemnified by another organization or employee benefit plan for the same judgments, penalties, fines, including, without limitation, excise taxes assessed against the person with respect to an employee benefit plan, settlements, and reasonable expenses, including attorneys' fees and disbursements, incurred by the person in connection with the proceeding with respect to the same acts or omissions; (2) acted in good faith; (3) received no improper personal benefit, and statutory procedure has been followed in the case of any conflict of interest by a director; (4) in the case of a criminal proceeding, had no reasonable cause to believe the conduct was unlawful; and (5) in the case of acts or omissions occurring in the person's performance in the official capacity of director or, for a person not a director, in the official capacity of officer, committee member or employee, reasonably believed that the conduct was in the best interests of the Registrant, or, in the case of performance by a director, officer or employee of the Registrant as a director, officer, partner, trustee, employee or agent of another organization or employee benefit plan, reasonably believed that the conduct was not opposed to the best interests of the Registrant. In addition, Section 302A.521, subd. 3, requires payment by the Registrant, upon written request, of reasonable expenses in advance of final disposition in certain instances.&nbsp; A decision as to required indemnification is made by a disinterested majority of the Board of Directors present at a meeting at which a disinterested quorum is present, or by a designated committee of the Board, by special legal counsel, by the shareholders or by a court.&nbsp; The Registrant's Bylaws provide for indemnification of officers, directors, employees, and agents to the fullest extent provided by Section 302A.521.&nbsp; Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions referenced in Item 6 of this Registration Statement 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 hereunder, 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. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>The Registrant also maintains directors&#146; and officers&#146; liability insurance.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">ITEM 7.&nbsp; EXEMPTION FROM REGISTRATION CLAIMED </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Not Applicable. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">ITEM 8.&nbsp; EXHIBITS </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.5in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>4.1</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'" color=black>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>2003 Incentive Stock Option Plan, as amended (filed herewith)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.5in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>5.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Opinion and Consent of Best &amp; Flanagan LLP (filed herewith)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.5in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>23.1</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'" color=black>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>Consent of Grant Thornton LLP, independent registered public accounting firm (filed herewith)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt 0.5in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>23.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consent of Best &amp; Flanagan LLP (included in Exhibit 5.1)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.5in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>24.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Powers of Attorney (included on page II-5 of this Registration Statement)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">II - 2</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">ITEM 9.&nbsp; UNDERTAKINGS </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(a) The undersigned Registrant hereby undertakes: </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 13.5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement: </FONT></P>
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<P style="MARGIN: 0in 0in 0pt 27pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(i) To include any prospectus required by section 10(a)(3) of the Securities Act of 1933; </FONT></P>
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<P style="MARGIN: 0in 0in 0pt 13.5pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(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.&nbsp; 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 Securities and Exchange 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; </FONT></P>
<P style="MARGIN: 0in 0in 0pt 13.5pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 13.5pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(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. </FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">PROVIDED, HOWEVER, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration statement is on Form S-3, Form S-8 or Form F-3, and the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the Registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered in it, 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 style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. </FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(4) That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities:</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">The undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer to sell such securities to such purchaser:</FONT></P>
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<P style="MARGIN: 0in 0in 0pt 13.5pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424 (&#167; 230.424 of this chapter);</FONT></P>
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<P style="MARGIN: 0in 0in 0pt 13.5pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</FONT></P>
<P style="MARGIN: 0in 0in 0pt 13.5pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 13.5pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and</FONT></P>
<P style="MARGIN: 0in 0in 0pt 13.5pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 13.5pt; TEXT-INDENT: 13.5pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">II - 3</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(b) 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 13(a) or Section 15(d) of the Securities Exchange Act of 1934), that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered in it, 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 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant, 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 of 1933 and is, therefore, unenforceable.&nbsp; 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 of 1933 and will be governed by the final adjudication of such issue. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">II - 4</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">SIGNATURES </FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">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 Minneapolis, Minnesota, on August 10, 2010.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">INSIGNIA SYSTEMS, INC.</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">By:&nbsp;&nbsp;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">/s/ Scott F. Drill</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;Scott F. Drill, President<BR>
and Chief Executive Officer<BR>
(principal executive officer)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">By:</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">/s/ Justin W. Shireman</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Justin W. Shireman, Vice President of<BR>
Finance and Chief Financial Officer<BR>
(principal financial and accounting officer)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>SIGNATURES AND POWERS OF ATTORNEY</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed on August 10, 2010 by the following persons in the capacities indicated.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'" color=black>Each person whose signature appears below also constitutes and appoints Scott F. Drill his true and lawful attorney-in-fact and agent with full powers of substitution and resubstitution for and in his or her name, place and stead, in any and all capacities, to sign any or 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 attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">/s/ Scott F. Drill</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">President, Chief Executive Officer, Secretary and Director (principal executive officer)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Scott F. Drill</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">/s/ Justin W. Shireman</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Vice President of Finance, Chief Financial Officer and Treasurer (principal financial and accounting officer) </FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Justin W. Shireman</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">/s/ Peter V. Derycz</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Director</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Peter V. Derycz</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Donald J. Kramer </FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">/s/ Reid V. MacDonald</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Reid V. MacDonald</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">/s/ Gordon F. Stofer</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Director</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Gordon F. Stofer</FONT></P>
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     <TD vAlign=top width="3%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
</TD></TR></TABLE></DIV> <H1 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><B><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT></B>&nbsp;</H1>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">The above persons signing as directors are all of the directors of the Registrant.</FONT></P>
<H1 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center"></H1>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">II - 5</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
</DIV> <H1 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">EXHIBIT INDEX</FONT></B></H1>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">4.1</FONT></H2></TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">2003 Incentive Stock Option Plan, as amended (filed herewith)</FONT></H2></TD></TR>
<TR>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'"></FONT>&nbsp;</H2></TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'"></FONT>&nbsp;</H2></TD></TR>
<TR>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">5.1</FONT></H2></TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">Opinion and Consent of Best &amp; Flanagan LLP (filed herewith)</FONT></H2></TD></TR>
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     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'"></FONT>&nbsp;</H2></TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'"></FONT>&nbsp;</H2></TD></TR>
<TR>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">23.1</FONT></H2></TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">Consent of Grant Thornton LLP, independent registered public accounting firm (filed herewith)</FONT></H2></TD></TR>
<TR>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'"></FONT>&nbsp;</H2></TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'"></FONT>&nbsp;</H2></TD></TR>
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     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">23.2</FONT></H2></TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">Consent of Best &amp; Flanagan LLP (included in Exhibit 5.1)</FONT></H2></TD></TR>
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     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'"></FONT>&nbsp;</H2></TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'"></FONT>&nbsp;</H2></TD></TR>
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     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="10%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">24.1 </FONT></H2></TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%"> <H2 style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">Powers of Attorney (included on page II-5 of this Registration Statement)</FONT></H2></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">II - 6</FONT></P>
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{"company-data": {"conformed-name": "INSIGNIA SYSTEMS INC/MN", "cik": "0000875355", "assigned-sic": "3990", "irs-number": "411656308", "state-of-incorporation": "MN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-168715", "film-number": "101004599"}, "business-address": {"street1": "8799 BROOKLYN BLVD.", "city": "MINNEAPOLIS", "state": "MN", "zip": "55445", "phone": "7633926200"}, "mail-address": {"street1": "8799 BROOKLYN BLVD.", "city": "MINNEAPOLIS", "state": "MN", "zip": "55445"}}
insignia103854_s8.htm - Generated by SEC Publisher for SEC Filing
As filed with the Securities and Exchange Commission on August 10, 2010.
Registration no. 333-_______________
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
INSIGNIA SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Minnesota
41-1656308
(State or other jurisdiction of incorporation or organization)
(IRS Employer Identification No.)
8799 Brooklyn Blvd., Minneapolis, MN 55445
(Address of principal executive offices)
2003 Incentive Stock Option Plan
(Full title of the plan)
Scott F. Drill
President and Chief Executive Officer
Insignia Systems, Inc.
8799 Brooklyn Blvd., Minneapolis, MN 55445
(Name and address of agent for service)
(763) 392-6200
(Telephone number, including area code, of agent for service)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of "large accelerated filer," "accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
¨
Accelerated filer
¨
Non-accelerated filer
þ
Smaller reporting company
¨
CALCULATION OF REGISTRATION FEE
TITLE OF SECURITIES
AMOUNT TO BE
REGISTERED (1)
PROPOSED MAXIMUM OFFERING PRICE
PER SHARE (2)
PROPOSED MAXIMUM
AGGREGATE OFFERING
PRICE (2)
AMOUNT OF
REGISTRATION FEE
Common Stock, par value
$.01 per share
250,000 shares
$6.325
$1,581,250
$112.73
(1)
Includes 250,000 shares of common stock to be registered under the 2003 Incentive Stock Option Plan
(2)
Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) under the Securities Act of 1933, based on the average of the high and low price per share reported on the Nasdaq Capital Market on August 4, 2010.
PART I
INFORMATION REQUIRED IN
THE SECTION 10(a) PROSPECTUS
ITEM 1.  PLAN INFORMATION
Not required to be filed in the Registration Statement.
ITEM 2.  REGISTRANT INFORMATION AND EMPLOYEE PLAN ANNUAL INFORMATION
Not required to be filed in the Registration Statement.
The documents containing the information specified in Part I of Form S-8 have been or will be sent or given to participating employees as specified in Rule 428(b)(1) of the Securities Act. Such documents are not being filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. These documents and the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
I – 1
PART II
INFORMATION REQUIRED IN
THE REGISTRATION STATEMENT
ITEM 3.  INCORPORATION OF DOCUMENTS BY REFERENCE
The following documents previously filed by the Registrant with the Securities and Exchange Commission are incorporated by reference into this Registration Statement:
(a)   Annual Report on Form 10-K/A for the year ended December 31, 2008, filed January 29, 2010;
(b)   Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2009, filed January 29, 2010;
(c)   Quarterly Report on Form 10-Q/A for the quarter ended June 30, 2009, filed January 29, 2010;
(d)   Current Report on Form 8-K, filed February 25, 2010;
(e)   Current Report on Form 8-K, filed March 2, 2010;
(f)    Current Report on Form 8-K, filed March 3, 2010:
(g)   Current Report on Form 8-K, filed March 19, 2010;
(h)   Annual Report on Form 10-K for the fiscal year ended December 31, 2009, filed March 31, 2010;
(i)    Current Report on Form 8-K, filed April 29, 2010;
(j)    Current Report on Form 8-K, filed May 4, 2010;
(k)   Quarterly Report on Form 10-Q for the quarter ended March 31, 2010, filed May 17, 2010;
(l)    Current Report on Form 8-K, filed May 17, 2010;
(m)  Current Report on Form 8-K, filed May 19, 2010;
(n)   Current Report on Form 8-K, filed June 2, 2010;
(o)   Quarterly Report on Form 10-Q for the quarter ended June 30, 2010, filed August 9, 2010;
(p)   Description of Common Stock contained in a registration statement filed under the Securities Exchange Act, including any amendment or report filed for the purpose of updating such description.
All documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, subsequent to the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities registered pursuant to this Registration Statement have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be part of it from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference to this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or incorporated herein by reference (or in any other subsequently filed documents which also is or is deemed to be incorporated by reference) modifies or supersedes such statement.  Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
II - 1
ITEM 4.  DESCRIPTION OF SECURITIES
Not Applicable.
ITEM 5.  INTERESTS OF NAMED EXPERTS AND COUNSEL
Not Applicable.
ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS
Section 302A.521 of Minnesota Statutes requires the Registrant to indemnify a person made or threatened to be made a party to a proceeding by reason of the former or present official capacity of the person with respect to the Registrant, against judgments, penalties, fines, including, without limitation, excise taxes assessed against the person with respect to an employee benefit plan, settlements and reasonable expenses, including attorneys' fees and disbursements, incurred by the person in connection with the proceeding, if such person (1) has not been indemnified by another organization or employee benefit plan for the same judgments, penalties, fines, including, without limitation, excise taxes assessed against the person with respect to an employee benefit plan, settlements, and reasonable expenses, including attorneys' fees and disbursements, incurred by the person in connection with the proceeding with respect to the same acts or omissions; (2) acted in good faith; (3) received no improper personal benefit, and statutory procedure has been followed in the case of any conflict of interest by a director; (4) in the case of a criminal proceeding, had no reasonable cause to believe the conduct was unlawful; and (5) in the case of acts or omissions occurring in the person's performance in the official capacity of director or, for a person not a director, in the official capacity of officer, committee member or employee, reasonably believed that the conduct was in the best interests of the Registrant, or, in the case of performance by a director, officer or employee of the Registrant as a director, officer, partner, trustee, employee or agent of another organization or employee benefit plan, reasonably believed that the conduct was not opposed to the best interests of the Registrant. In addition, Section 302A.521, subd. 3, requires payment by the Registrant, upon written request, of reasonable expenses in advance of final disposition in certain instances.  A decision as to required indemnification is made by a disinterested majority of the Board of Directors present at a meeting at which a disinterested quorum is present, or by a designated committee of the Board, by special legal counsel, by the shareholders or by a court.  The Registrant's Bylaws provide for indemnification of officers, directors, employees, and agents to the fullest extent provided by Section 302A.521.  Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions referenced in Item 6 of this Registration Statement 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 hereunder, 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.
The Registrant also maintains directors' and officers' liability insurance.
ITEM 7.  EXEMPTION FROM REGISTRATION CLAIMED
Not Applicable.
ITEM 8.  EXHIBITS
4.1
2003 Incentive Stock Option Plan, as amended (filed herewith)
5.1          Opinion and Consent of Best & Flanagan LLP (filed herewith)
23.1
Consent of Grant Thornton LLP, independent registered public accounting firm (filed herewith)
23.2        Consent of Best & Flanagan LLP (included in Exhibit 5.1)
24.1        Powers of Attorney (included on page II-5 of this Registration Statement)
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ITEM 9.  UNDERTAKINGS
(a) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) To include any prospectus required by section 10(a)(3) of the Securities Act 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 Securities and Exchange 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 paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration statement is on Form S-3, Form S-8 or Form F-3, and the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the Registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered in it, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(4) That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities:
The undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer to sell such securities to such purchaser:
(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424 (§ 230.424 of this chapter);
(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;
(iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and
(iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.
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(b) 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 13(a) or Section 15(d) of the Securities Exchange Act of 1934), that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered in it, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant, 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 of 1933 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 of 1933 and will be governed by the final adjudication of such issue.
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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 Minneapolis, Minnesota, on August 10, 2010.
INSIGNIA SYSTEMS, INC.
By:
/s/ Scott F. Drill
Scott F. Drill, President
and Chief Executive Officer
(principal executive officer)
By:
/s/ Justin W. Shireman
Justin W. Shireman, Vice President of
Finance and Chief Financial Officer
(principal financial and accounting officer)
SIGNATURES AND POWERS OF ATTORNEY
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed on August 10, 2010 by the following persons in the capacities indicated.
Each person whose signature appears below also constitutes and appoints Scott F. Drill his true and lawful attorney-in-fact and agent with full powers of substitution and resubstitution for and in his or her name, place and stead, in any and all capacities, to sign any or 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 attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Signature
Title
/s/ Scott F. Drill
President, Chief Executive Officer, Secretary and Director (principal executive officer)
Scott F. Drill
/s/ Justin W. Shireman
Vice President of Finance, Chief Financial Officer and Treasurer (principal financial and accounting officer)
Justin W. Shireman
/s/ Peter V. Derycz
Director
Peter V. Derycz
/s/ Donald J. Kramer
Director
Donald J. Kramer
/s/ Reid V. MacDonald
Director
Reid V. MacDonald
/s/ Gordon F. Stofer
Director
Gordon F. Stofer
The above persons signing as directors are all of the directors of the Registrant.
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EXHIBIT INDEX
4.1
2003 Incentive Stock Option Plan, as amended (filed herewith)
5.1
Opinion and Consent of Best & Flanagan LLP (filed herewith)
23.1
Consent of Grant Thornton LLP, independent registered public accounting firm (filed herewith)
23.2
Consent of Best & Flanagan LLP (included in Exhibit 5.1)
24.1
Powers of Attorney (included on page II-5 of this Registration Statement)
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