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

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

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<H1 ALIGN=CENTER><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=2>FORM S-8  </FONT></H1>

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


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     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>MAXWELL TECHNOLOGIES, INC.</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(Exact name of registrant as specified in its charter)</FONT></TD></TR>
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     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Delaware</FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>95-2390133</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(State or Other Jurisdiction of</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(I.R.S. Employer</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Incorporation or Organization)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Identification No.)</FONT></TD></TR>
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     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>9244 Balboa Avenue</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>San Diego, California 92123</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(858) 503-3300</FONT></TD></TR>
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     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(Address of Principal Executive Offices, including ZIP Code)</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Maxwell Technologies, Inc. 2005 Omnibus Equity Incentive Plan</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>and</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Maxwell Technologies, Inc. 2004 Employee Stock Purchase Plan</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(Full Title of the Plans)</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD></TR>
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     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Richard D. Balanson, Ph.D</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>President and Chief Executive Officer</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Maxwell Technologies, Inc.</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>9244 Balboa Avenue</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>San Diego, California 92123</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(858) 503-3300</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=1>(Name and Address of Agent for Service)</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>with copies to:</I></FONT></TD></TR>
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     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Kenneth D. Polin, Esq.</FONT></TD>
     <TD WIDTH=50% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Deepak Nanda, Esq.</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Foley &amp; Lardner LLP</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Foley &amp; Lardner LLP</FONT></TD></TR>
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     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>402 W. Broadway, Suite 2300</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2029 Century Park East, Suite 3500</FONT></TD></TR>
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     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>San Diego, California 92101-3542</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Los Angeles, California 90067</FONT></TD></TR>
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     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(619) 234-6655</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(310) 277-2223</FONT></TD></TR>
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     <TH COLSPAN=5><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CALCULATION OF REGISTRATION FEE</FONT><HR WIDTH=100% SIZE=2 COLOR=BLACK NOSHADE></TH></TR>
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     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Title of<BR>
Securities to be<BR>
Registered</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amount<BR>
to be<BR>
Registered(1)(2)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proposed Maximum<BR>
Offering Price<BR>
Per Share (3)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proposed Maximum<BR>
Aggregate Offering<BR>
Price(3)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amount of<BR>
Registration<BR>
Fee(1)(3)</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
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     <TD WIDTH=20% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common Stock, par value</FONT></TD>
     <TD WIDTH=20% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=20% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=20% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=20% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$0.10 per share:</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;--2005 Omnibus Equity</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;750,000 shares</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$10.06</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;$7,545,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;$888.05</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Incentive Plan</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;--2004 Employee Stock</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;500,000 shares</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$10.06</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;$5,030,000</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;$592.03</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Purchase Plan</FONT></TD></TR>
<TR>
     <TD COLSPAN=5><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Total</B></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>1,250,000 shares</B></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>--</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>$12,575,000</B></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>$1,480.08</B></FONT></TD></TR>
<TR>
     <TD COLSPAN=5><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TD></TR>
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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          This Registration Statement includes 750,000 shares to be registered under
          Maxwell Technologies, Inc.&#146;s 2005 Omnibus Equity Incentive Plan (the
          &#147;Omnibus Plan&#148;), and 500,000 shares to be registered under Maxwell
          Technologies, Inc.&#146;s 2004 Employee Stock Purchase Plan (the &#147;Purchase
          Plan&#148;). The number of shares of Common Stock is the maximum number of
          shares issuable upon the exercise of options or vesting of other awards, which
          have been or may be granted pursuant to the Omnibus Plan, and issuable pursuant
          to the Purchase Plan, respectively. This Registration Statement also covers such
          additional number of shares of Common Stock as may become issuable as a result
          of any future adjustments in accordance with the terms of the Omnibus Plan or
          the Purchase Plan, and which result in an increase in the number of outstanding
          shares of Common Stock. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          In addition, pursuant to Rule 416(a) under the Securities Act of 1933, as
          amended, this registration statement also covers an indeterminate number of
          additional shares of Common Stock to be offered or issued pursuant to terms of
          the Omnibus Plan or the Purchase Plan that provide for a change in the number of
          securities offered or issued as a result of a stock split, stock dividend or
          similar transaction. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          The Proposed Maximum Offering Price Per Share was estimated pursuant to Rule
          457(c) and (h) under the Securities Act of 1933, as amended, solely for the
          purpose of calculating the registration fee based on the average of the high and
          low prices of a share of Maxwell Technologies, Inc. Common Stock on the Nasdaq
          National Market on June 17, 2005. </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INFORMATION REQUIRED
IN THE <BR>SECTION 10(A) PROSPECTUS  </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
information required by Part I of Form S-8 to be contained in a prospectus meeting the
requirements of Section 10(a) of the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;), is not required to be filed with the Securities and Exchange
Commission (the &#147;Commission&#148;) and is omitted from this Registration Statement in
accordance with the explanatory note to Part I of Form S-8 and Rule 428 under the
Securities Act. </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 <BR>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;&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 with the Commission by Maxwell Technologies, Inc. (the
&#147;Registrant&#148;) are hereby incorporated herein by reference: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;          The
Registrant&#146;s Annual Report on Form 10-K for the fiscal year ended           December
31, 2004 (Commission File No. 1-15477), filed with the Commission on           March 23,
2005, which includes audited financial statements as of December 31,           2004 and
2003, and for the three years in the period ended December 31, 2004.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;          The
Registrant&#146;s Quarterly Report on Form 10-Q for the quarterly period           ended
March 25, 2005 (Commission File No. 1-15477), filed with the Commission on           May
9, 2005.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;          The
Registrant&#146;s Current Reports on Form 8-K (Commission File No. 1-15477)
          filed with the Commission on February 18, 2005, February 24,2005, March 9,
2005,           March 18, 2005, May 9, 2005 and June 10, 2005.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;          All
other reports which the Registrant filed with the Commission pursuant to
          Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the
          &#147;Exchange Act&#148;), since the end of the fiscal year covered by the
          document referred to in item (a) above.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;          The
description of the Registrant&#146;s securities contained in the           Registrant&#146;s
Registration Statement on Form 8-A (Commission File No.           000-10964) filed with
the Commission on March 8, 1983, including any amendment           or report filed for
the purpose of updating such description.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 and 15(d) of the
Exchange Act after the date of filing of this Registration Statement and prior to the
filing of a post-effective amendment to this Registration Statement which indicates that
all securities offered hereby have been sold or which de-registers all securities then
remaining unsold shall be deemed to be incorporated by reference into this Registration
Statement and to be a part hereof from the date of filing of such documents. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1 </FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Description of
Securities. </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 5.&nbsp;&nbsp;&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;None. </FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 6.&nbsp;&nbsp;&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;The
Registrant is a Delaware corporation and has adopted the provisions of Section 102(b)(7)
of the Delaware General Corporation Law (the &#147;Delaware Law&#148;), which enables a
corporation in its original certificate of incorporation or an amendment thereto to
eliminate or limit the personal liability of a director for monetary damages for breach of
the director&#146;s fiduciary duty, except (i) for any breach of the director&#146;s duty
of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good
faith or which involve intentional misconduct or a knowing violation of law, (iii)
pursuant to Section 174 of the Delaware Law (providing for liability of directors for
unlawful payment of dividends or unlawful stock purchases or redemptions) or (iv) for any
transaction from which a director will personally receive a benefit in money, property or
services to which the director is not legally entitled. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registrant has also adopted indemnification provisions pursuant to Section 145 of the
Delaware Law, which provides that a corporation may indemnify any persons, including
officers and directors, who are, or are threatened to be made, parties to any threatened,
pending or completed legal action, suit or proceeding, whether civil, criminal,
administrative or investigative (other than an action by or in the right of the
corporation), by reason of the fact that such person was an officer, director, employee or
agent of the corporation, or is or was serving at the request of such corporation as a
director, officer, employee or agent of another corporation or enterprise. The indemnity
may include expenses (including attorneys&#146; fees), judgments, fines and amounts paid
in settlement actually and reasonably incurred by such person in connection with such
action, suit or proceeding, provided such officer, director, employee or agent acted in
good faith and in a manner he reasonably believed to be in or not opposed to the
corporation&#146;s best interests and, with respect to criminal proceedings, had no
reasonable cause to believe that his conduct was unlawful. A Delaware corporation may
indemnify officers or directors in an action by or in the right of the corporation under
the same conditions, except that no indemnification is permitted without judicial approval
if the officer or director is adjudged to be liable to the corporation. Where an officer
or director is successful on the merits or otherwise in the defense of any action referred
to above, the corporation must indemnify him against expenses (including attorneys&#146;
fees) that such officer or director actually and reasonably incurred. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, the Registrant has entered into indemnification agreements with its officers and
directors with respect to losses arising out of their capacity as officers or directors,
and it is anticipated that similar agreements may be entered into, from time to time, with
its officers and directors in the future. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 7.&nbsp;&nbsp;&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;&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 filed herewith or incorporated herein by reference are set forth in the attached
Index to Exhibits. </FONT></P>


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

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.&nbsp;&nbsp;&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;(a)&nbsp;&nbsp;&nbsp;&nbsp;          The
undersigned Registrant hereby undertakes:  </FONT></P>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&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>
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;               To
include any prospectus required by Section 10(a)(3) of the Securities Act of
               1933;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;               To
reflect in the prospectus any facts or events arising after the effective
               date of the Registration Statement (or the most recent post-effective
amendment                thereof) which, individually or in the aggregate, represent a
fundamental change                in the information set forth in the Registration
Statement;  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provided,
however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Securities and Exchange Commission by the
Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934
that are incorporated by reference in the Registration Statement.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&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 herein, and the
               offering of such securities at that time shall be deemed to be the initial
bona                fide offering thereof.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&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>
</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;(b)&nbsp;&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 that is incorporated by reference in this           Registration
Statement shall be deemed to be a new registration statement           relating to the
securities offered herein, and the offering of such securities           at that time
shall be deemed to be the initial bona fide offering thereof.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&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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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3 </FONT></P>


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

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of San Diego, State of California, on
this 22nd day of June, 2005. </FONT></P>



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<TR VALIGN=Bottom>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>MAXWELL TECHNOLOGIES, INC.</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:&nbsp;&nbsp;<U>/s/ RICHARD D. BALANSON</U></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Richard D. Balanson</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Chief Executive Officer</FONT></TD></TR>
</TABLE>






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


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this registration statement has been
signed by the following persons in the capacities and on the dates indicated. Each person
whose signature appears below constitutes and appoints Richard D. Balanson, President and
Chief Executive Officer, and David H. Russian, Vice President &#150; Finance, Treasurer,
Chief Financial Officer and Secretary, and each of them individually, his or her true and
lawful attorneys-in-fact and agents, with full power of substitution and resubstitution,
for him or her and in his or her name, place and stead, in any and all capacities, to sign
any and all amendments (including post-effective amendments) to this registration
statement, and any additional registration statement to be filed pursuant to Rule 462(b)
under the Securities Act of 1933, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange Commission,
granting unto said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite and necessary to be
done in connection therewith, as fully to all intents and purposes as he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-fact and
agents, or any of them, or their or his or her substitute or substitutes, may lawfully do
or cause to be done by virtue hereof. </FONT></P>





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<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Signature</U></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Title</U></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Date</U></FONT></TH></TR>
<TR>
    <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=30% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ RICHARD D. BALANSON</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD WIDTH=40% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>President, Chief Executive Officer and Director</FONT></TD>
     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>June 22, 2005</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Richard D. Balanson</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Principal Executive Officer)</FONT></TD></TR>
<TR>
    <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ DAVID H. RUSSIAN</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Vice President - Finance, Treasurer, Secretary and</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>June 22, 2005</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>David H. Russian</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chief Financial Officer</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Principal Financial Officer)</FONT></TD></TR>
<TR>
    <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ ROBERT GUYETT</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>June 22, 2005</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Robert Guyett</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Chairman of the Board)</FONT></TD></TR>
<TR>
    <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ CARLTON J. EIBL</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>June 22, 2005</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Carlton J. Eibl</FONT></TD></TR>
</TABLE>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4 </FONT></P>


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<TR VALIGN=Bottom>
     <TD WIDTH=30% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD WIDTH=40% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ MARK ROSSI</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>June 22, 2005</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Mark Rossi</FONT></TD></TR>
<TR>
    <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ JEAN LAVIGNE</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>June 22, 2005</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jean Lavigne</FONT></TD></TR>
<TR>
    <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ THOMAS J. RINGER</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>June 22, 2005</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Thomas J. Ringer</FONT></TD></TR>
<TR>
    <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ JOSE L. CORTES</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>June 22, 2005</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jose L. Cortes</FONT></TD></TR>
<TR>
    <TD COLSPAN=3>&nbsp;</TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ EDWARD CAUDILL</FONT><HR WIDTH=80% SIZE=1 COLOR=BLACK NOSHADE></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>June 22, 2005</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Edward Caudill</FONT></TD></TR>
</TABLE>


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<BR>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5 </FONT></P>


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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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     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=15% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><U>Exhibit No.</U></B></FONT></TD>
     <TD WIDTH=85% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><U>Description</U></B></FONT></TD></TR>
</TABLE>
<BR>


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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>           4.1  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Maxwell
Technologies, Inc. 2005 Omnibus Equity Incentive Plan (incorporated by reference to
                         Appendix "C" to the Company's Proxy Statement for the 2005
Annual Meeting of Stockholders filed  with the Commission on April 4, 2005) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.2*  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of 2005 Omnibus Equity Incentive Plan Notice of Stock Option Award and Stock Option Agreement</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.3*  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form
of 2005 Omnibus Equity Incentive Plan Notice of Restricted Stock Award and Restricted Stock Agreement</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>           4.4  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Maxwell
Technologies, Inc. 2004 Employee Stock Purchase Plan (incorporated by reference to
                         Appendix "B" to the Company's Proxy Statement for the 2005
Annual Meeting of Stockholders filed  with the Commission on April 4, 2005) </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>          5.1*  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Opinion
of Foley &amp; Lardner LLP</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>         23.1*  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Foley &amp; Lardner LLP (included in Exhibit 5.1)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.2*  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of McGladrey &amp; Pullen, LLP, Independent Registered Public Accounting Firm</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.3*  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Deloitte &amp; Touche LLP, Independent Registered Public Accounting Firm</FONT></TD>
</TR>
</TABLE>
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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.4*  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent
of Ernst &amp; Young LLP, Independent Registered Public Accounting Firm</FONT></TD>
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<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>         24.1*  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Power
of Attorney (included on the signature page hereof)</FONT></TD>
</TR>
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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* Filed herewith </FONT></P>



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[{"type": "S-8", "sequence": "1", "filename": "cmw1520.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 47864}]
{"company-data": {"conformed-name": "MAXWELL TECHNOLOGIES INC", "cik": "0000319815", "assigned-sic": "3571", "irs-number": "952390133", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-126062", "film-number": "05910887"}, "business-address": {"street1": "8888 BALBOA AVENUE", "city": "SAN DIEGO", "state": "CA", "zip": "92123", "phone": "8582795100"}, "mail-address": {"street1": "8888 BALBOA AVENUE", "city": "SAN DIEGO", "state": "CA", "zip": "92123"}, "former-company": {"former-conformed-name": "MAXWELL LABORATORIES INC /DE/", "date-changed": "19920703"}}
Registration No.
____________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
MAXWELL TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Delaware
95-2390133
(State or Other Jurisdiction of
(I.R.S. Employer
Incorporation or Organization)
Identification No.)
9244 Balboa Avenue
San Diego, California 92123
(858) 503-3300
(Address of Principal Executive Offices, including ZIP Code)
Maxwell Technologies, Inc. 2005 Omnibus Equity Incentive Plan
and
Maxwell Technologies, Inc. 2004 Employee Stock Purchase Plan
(Full Title of the Plans)
Richard D. Balanson, Ph.D
President and Chief Executive Officer
Maxwell Technologies, Inc.
9244 Balboa Avenue
San Diego, California 92123
(858) 503-3300
(Name and Address of Agent for Service)
with copies to:
Kenneth D. Polin, Esq.
Deepak Nanda, Esq.
Foley & Lardner LLP
Foley & Lardner LLP
402 W. Broadway, Suite 2300
2029 Century Park East, Suite 3500
San Diego, California 92101-3542
Los Angeles, California 90067
(619) 234-6655
(310) 277-2223
CALCULATION OF REGISTRATION FEE
Title of
Securities to be
Registered
Amount
to be
Registered(1)(2)
Proposed Maximum
Offering Price
Per Share (3)
Proposed Maximum
Aggregate Offering
Price(3)
Amount of
Registration
Fee(1)(3)
Common Stock, par value
$0.10 per share:
--2005 Omnibus Equity
750,000 shares
$10.06
$7,545,000
$888.05
Incentive Plan
--2004 Employee Stock
500,000 shares
$10.06
$5,030,000
$592.03
Purchase Plan
Total
1,250,000 shares
--
$12,575,000
$1,480.08
(1)
This Registration Statement includes 750,000 shares to be registered under
          Maxwell Technologies, Inc.'s 2005 Omnibus Equity Incentive Plan (the
          "Omnibus Plan"), and 500,000 shares to be registered under Maxwell
          Technologies, Inc.'s 2004 Employee Stock Purchase Plan (the "Purchase
          Plan"). The number of shares of Common Stock is the maximum number of
          shares issuable upon the exercise of options or vesting of other awards, which
          have been or may be granted pursuant to the Omnibus Plan, and issuable pursuant
          to the Purchase Plan, respectively. This Registration Statement also covers such
          additional number of shares of Common Stock as may become issuable as a result
          of any future adjustments in accordance with the terms of the Omnibus Plan or
          the Purchase Plan, and which result in an increase in the number of outstanding
          shares of Common Stock.
(2)
In addition, pursuant to Rule 416(a) under the Securities Act of 1933, as
          amended, this registration statement also covers an indeterminate number of
          additional shares of Common Stock to be offered or issued pursuant to terms of
          the Omnibus Plan or the Purchase Plan that provide for a change in the number of
          securities offered or issued as a result of a stock split, stock dividend or
          similar transaction.
(3)
The Proposed Maximum Offering Price Per Share was estimated pursuant to Rule
          457(c) and (h) under the Securities Act of 1933, as amended, solely for the
          purpose of calculating the registration fee based on the average of the high and
          low prices of a share of Maxwell Technologies, Inc. Common Stock on the Nasdaq
          National Market on June 17, 2005.
PART I
INFORMATION REQUIRED
IN THE
SECTION 10(A) PROSPECTUS
Certain
information required by Part I of Form S-8 to be contained in a prospectus meeting the
requirements of Section 10(a) of the Securities Act of 1933, as amended (the
"Securities Act"), is not required to be filed with the Securities and Exchange
Commission (the "Commission") and is omitted from this Registration Statement in
accordance with the explanatory note to Part I of Form S-8 and Rule 428 under the
Securities Act.
PART II
INFORMATION REQUIRED
IN THE
REGISTRATION STATEMENT
Item 3.     Incorporation of Documents
by Reference.
The
following documents filed with the Commission by Maxwell Technologies, Inc. (the
"Registrant") are hereby incorporated herein by reference:
(a)              The
Registrant's Annual Report on Form 10-K for the fiscal year ended           December
31, 2004 (Commission File No. 1-15477), filed with the Commission on           March 23,
2005, which includes audited financial statements as of December 31,           2004 and
2003, and for the three years in the period ended December 31, 2004.
(b)              The
Registrant's Quarterly Report on Form 10-Q for the quarterly period           ended
March 25, 2005 (Commission File No. 1-15477), filed with the Commission on           May
9, 2005.
(c)              The
Registrant's Current Reports on Form 8-K (Commission File No. 1-15477)
          filed with the Commission on February 18, 2005, February 24,2005, March 9,
2005,           March 18, 2005, May 9, 2005 and June 10, 2005.
(d)              All
other reports which the Registrant filed with the Commission pursuant to
          Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the
          "Exchange Act"), since the end of the fiscal year covered by the
          document referred to in item (a) above.
(e)              The
description of the Registrant's securities contained in the           Registrant's
Registration Statement on Form 8-A (Commission File No.           000-10964) filed with
the Commission on March 8, 1983, 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 and 15(d) of the
Exchange Act after the date of filing of this Registration Statement and prior to the
filing of a post-effective amendment to this Registration Statement which indicates that
all securities offered hereby have been sold or which de-registers all securities then
remaining unsold shall be deemed to be incorporated by reference into this Registration
Statement and to be a part hereof from the date of filing of such documents.
1
Item 4.     Description of
Securities.
Not
applicable.
Item 5.     Interests of
Named Experts and Counsel.
None.
Item 6.     Indemnification
of Directors and Officers.
The
Registrant is a Delaware corporation and has adopted the provisions of Section 102(b)(7)
of the Delaware General Corporation Law (the "Delaware Law"), which enables a
corporation in its original certificate of incorporation or an amendment thereto to
eliminate or limit the personal liability of a director for monetary damages for breach of
the director's fiduciary duty, except (i) for any breach of the director's duty
of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good
faith or which involve intentional misconduct or a knowing violation of law, (iii)
pursuant to Section 174 of the Delaware Law (providing for liability of directors for
unlawful payment of dividends or unlawful stock purchases or redemptions) or (iv) for any
transaction from which a director will personally receive a benefit in money, property or
services to which the director is not legally entitled.
The
Registrant has also adopted indemnification provisions pursuant to Section 145 of the
Delaware Law, which provides that a corporation may indemnify any persons, including
officers and directors, who are, or are threatened to be made, parties to any threatened,
pending or completed legal action, suit or proceeding, whether civil, criminal,
administrative or investigative (other than an action by or in the right of the
corporation), by reason of the fact that such person was an officer, director, employee or
agent of the corporation, or is or was serving at the request of such corporation as a
director, officer, employee or agent of another corporation or enterprise. The indemnity
may include expenses (including attorneys' fees), judgments, fines and amounts paid
in settlement actually and reasonably incurred by such person in connection with such
action, suit or proceeding, provided such officer, director, employee or agent acted in
good faith and in a manner he reasonably believed to be in or not opposed to the
corporation's best interests and, with respect to criminal proceedings, had no
reasonable cause to believe that his conduct was unlawful. A Delaware corporation may
indemnify officers or directors in an action by or in the right of the corporation under
the same conditions, except that no indemnification is permitted without judicial approval
if the officer or director is adjudged to be liable to the corporation. Where an officer
or director is successful on the merits or otherwise in the defense of any action referred
to above, the corporation must indemnify him against expenses (including attorneys'
fees) that such officer or director actually and reasonably incurred.
In
addition, the Registrant has entered into indemnification agreements with its officers and
directors with respect to losses arising out of their capacity as officers or directors,
and it is anticipated that similar agreements may be entered into, from time to time, with
its officers and directors in the future.
Item 7.     Exemption from
Registration Claimed.
Not
applicable.
Item 8.     Exhibits.
The
exhibits filed herewith or incorporated herein by reference are set forth in the attached
Index to Exhibits.
2
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 the Registration Statement (or the most recent post-effective
amendment                thereof) which, individually or in the aggregate, represent a
fundamental change                in the information set forth in the Registration
Statement;
(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 information
required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Securities and Exchange Commission by the
Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934
that are incorporated by reference in the Registration Statement.
(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 herein, and the
               offering of such securities at that time shall be deemed to be the initial
bona                fide offering thereof.
(3)                  To
remove from registration by means of a post-effective amendment any of the
               securities being registered which remain unsold at the termination of the
               offering.
(b)              The
undersigned Registrant hereby undertakes that, for purposes of determining           any
liability under the Securities Act 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 that is incorporated by reference in this           Registration
Statement shall be deemed to be a new registration statement           relating to the
securities offered herein, and the offering of such securities           at that time
shall be deemed to be the initial bona fide offering thereof.
(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
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.
3
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 the City of San Diego, State of California, on
this 22nd day of June, 2005.
MAXWELL TECHNOLOGIES, INC.
By:
/s/ RICHARD D. BALANSON
Richard D. Balanson
President and Chief Executive Officer
SIGNATURES AND POWER
OF ATTORNEY
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 constitutes and appoints Richard D. Balanson, President and
Chief Executive Officer, and David H. Russian, Vice President – Finance, Treasurer,
Chief Financial Officer and Secretary, and each of them individually, his or her true and
lawful attorneys-in-fact and agents, with full power of substitution and resubstitution,
for him or her and in his or her name, place and stead, in any and all capacities, to sign
any and all amendments (including post-effective amendments) to this registration
statement, and any additional registration statement to be filed pursuant to Rule 462(b)
under the Securities Act of 1933, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange Commission,
granting unto said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite and necessary to be
done in connection therewith, as fully to all intents and purposes as he or she might or
could do in person, hereby ratifying and confirming all that said attorneys-in-fact and
agents, or any of them, or their or his or her substitute or substitutes, may lawfully do
or cause to be done by virtue hereof.
Signature
Title
Date
/s/ RICHARD D. BALANSON
President, Chief Executive Officer and Director
June 22, 2005
Richard D. Balanson
(Principal Executive Officer)
/s/ DAVID H. RUSSIAN
Vice President - Finance, Treasurer, Secretary and
June 22, 2005
David H. Russian
Chief Financial Officer
(Principal Financial Officer)
/s/ ROBERT GUYETT
Director
June 22, 2005
Robert Guyett
(Chairman of the Board)
/s/ CARLTON J. EIBL
Director
June 22, 2005
Carlton J. Eibl
4
/s/ MARK ROSSI
Director
June 22, 2005
Mark Rossi
/s/ JEAN LAVIGNE
Director
June 22, 2005
Jean Lavigne
/s/ THOMAS J. RINGER
Director
June 22, 2005
Thomas J. Ringer
/s/ JOSE L. CORTES
Director
June 22, 2005
Jose L. Cortes
/s/ EDWARD CAUDILL
Director
June 22, 2005
Edward Caudill
5
INDEX TO EXHIBITS
Exhibit No.
Description
4.1
Maxwell
Technologies, Inc. 2005 Omnibus Equity Incentive Plan (incorporated by reference to
                         Appendix "C" to the Company's Proxy Statement for the 2005
Annual Meeting of Stockholders filed  with the Commission on April 4, 2005)
4.2*
Form
of 2005 Omnibus Equity Incentive Plan Notice of Stock Option Award and Stock Option Agreement
4.3*
Form
of 2005 Omnibus Equity Incentive Plan Notice of Restricted Stock Award and Restricted Stock Agreement
4.4
Maxwell
Technologies, Inc. 2004 Employee Stock Purchase Plan (incorporated by reference to
                         Appendix "B" to the Company's Proxy Statement for the 2005
Annual Meeting of Stockholders filed  with the Commission on April 4, 2005)
5.1*
Opinion
of Foley & Lardner LLP
23.1*
Consent
of Foley & Lardner LLP (included in Exhibit 5.1)
23.2*
Consent
of McGladrey & Pullen, LLP, Independent Registered Public Accounting Firm
23.3*
Consent
of Deloitte & Touche LLP, Independent Registered Public Accounting Firm
23.4*
Consent
of Ernst & Young LLP, Independent Registered Public Accounting Firm
24.1*
Power
of Attorney (included on the signature page hereof)
* Filed herewith