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<TITLE>GETTY IMAGES, INC.</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="center"><FONT size="2">As filed with the Securities and
Exchange Commission on May 10,&nbsp;2002
</FONT></DIV>

<DIV align="right"><FONT size="2"><B>Registration No.&nbsp;333-_____</B></FONT></DIV>

<HR size="1" noshade>

<DIV align="center"><FONT size="2"><B>SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549<BR>
______________________</B></FONT></DIV>

<P align="center"><FONT size="2"><B>FORM S-8<BR>
REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933<BR>
______________________</B></FONT>

<P align="center"><FONT size="2"><B>GETTY IMAGES, INC.</B><BR>
(Exact name of registrant as specified in its charter)</FONT>

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        <TD width="47%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="47%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>Delaware</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>98-0177556</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(State or other jurisdiction of incorporation or organization)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(I.R.S. Employer Identification No.)</FONT></TD>
</TR>
</TABLE>
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<DIV align="center"><FONT size="2"><B>601 N. 34th Street<BR>
Seattle, Washington 98103<BR>
(206)&nbsp;925-5000</B><BR>
(Address, including zip code, and telephone number, including area
code of principal executive offices)</FONT></DIV>

<P align="center"><FONT size="2"><B>NONQUALIFIED STOCK OPTION AGREEMENT (ENTERED INTO AS OF JULY 23, 2001)<BR>
NONQUALIFIED STOCK OPTION AGREEMENT (ENTERED INTO AS OF JULY 23, 2001)<BR>
NONQUALIFIED STOCK OPTION AGREEMENT (ENTERED INTO AS OF JULY 23, 2001)<BR>
NONQUALIFIED STOCK OPTION AGREEMENT (ENTERED INTO AS OF NOVEMBER 12, 2001)</B><BR>
(Full title of the plans)</FONT>

<P align="center"><FONT size="2"><B>Jeffrey L. Beyle<BR>
Senior Vice President and General Counsel<BR>
Getty Images, Inc.<BR>
601 N. 34th Street<BR>
Seattle, Washington 98103<BR>
(206)&nbsp;925-5000</B><BR>
(Name, address and telephone number, including area code, of agent for service)<BR>
<B>______________________<BR><BR>
Copies to:<BR>
J. Sue Morgan<BR>
Perkins Coie LLP<BR>
1201 Third Avenue, Suite&nbsp;4800<BR>
Seattle, Washington 98101-3099<BR>
(206)&nbsp;583-8888<BR>
______________________</B></FONT>

<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION
FEE</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="3%">&nbsp;</TD>
        <TD width="52%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan="18"><FONT size="1"><HR noshade size="4"></FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount to Be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Title of Securities to be Registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registered(1)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price Per Share</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering Price</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration Fee</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="18"><FONT size="1"><HR noshade size="1"></FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="2"><FONT size="2">Common Stock, par value $.01 per share, subject to:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">Nonqualified Stock Option Agreement (entered
into as of July&nbsp;23, 2001)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">8,333</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">15.80</FONT></TD>
        <TD nowrap><FONT size="2">(2)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">131,661.40</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">12.11</FONT></TD>
        <TD nowrap><FONT size="2">(2)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">Nonqualified Stock Option Agreement (entered
into as of July&nbsp;23, 2001)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">8,333</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">15.80</FONT></TD>
        <TD nowrap><FONT size="2">(2)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">131,661.40</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">12.11</FONT></TD>
        <TD nowrap><FONT size="2">(2)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">Nonqualified Stock Option Agreement (entered
into as of July&nbsp;23, 2001)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">8,333</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">15.80</FONT></TD>
        <TD nowrap><FONT size="2">(2)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">131,661.40</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">12.11</FONT></TD>
        <TD nowrap><FONT size="2">(2)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">Nonqualified Stock Option Agreement (entered
into as of November&nbsp;12, 2001)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">40,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">17.70</FONT></TD>
        <TD nowrap><FONT size="2">(3)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">708,000.00</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">65.14</FONT></TD>
        <TD nowrap><FONT size="2">(3)</FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="18"><FONT size="1"><HR noshade size="1"></FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">TOTAL</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">64,999</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">1,102,984.20</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">101.47</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="18"><FONT size="1"><HR noshade size="4"></FONT></TD>
</TR>

</TABLE>
</CENTER>
<P>
<HR size="1" width="18%" align="left" noshade>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Together with an indeterminate number of additional shares which may be
necessary to adjust the number of shares reserved for issuance pursuant to
the stock option agreements as the result of any future stock split, stock
dividend, spin-off, combination or exchange of shares, recapitalization,
merger, consolidation, distribution to shareholders other than a normal
cash dividend or similar adjustment to the Registrant&#146;s outstanding common
stock.</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">&nbsp;
</FONT>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Pursuant to Rule&nbsp;457(h) under the Securities Act of 1933, as amended, and
solely for the purpose of calculating the registration fee, the maximum
offering price per share under the agreements is $15.80, the price at
which each of the options may be exercised. This price is equal to the
average of the high and low sales prices per share of the Registrant&#146;s
common stock on the Nasdaq National Market on July&nbsp;23, 2001.</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(3)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Pursuant to Rule&nbsp;457(h) under the Securities Act of 1933, as amended, and
solely for the purpose of calculating the registration fee, the maximum
offering price per share under the agreement is $17.70, the price at which
each of the options may be exercised. This price is equal to the average
of the high and low sales prices per share of the Registrant&#146;s common
stock on the Nasdaq National Market on November&nbsp;12, 2001.</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">&nbsp;
</FONT>

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

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
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</TR>
<TR><TD colspan="9"><A HREF="#000">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;4. DESCRIPTION OF SECURITIES</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;5. INTERESTS OF NAMED EXPERTS AND COUNSEL</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;7. EXEMPTION FROM REGISTRATION CLAIMED</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;8. EXHIBITS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;9. UNDERTAKINGS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="v81204ex5-1.txt">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="v81204ex23-1.txt">EXHIBIT 23.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="v81204ex23-2.txt">EXHIBIT 23.2</A></TD></TR>
<TR><TD colspan="9"><A HREF="v81204ex99-1.txt">EXHIBIT 99.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="v81204ex99-2.txt">EXHIBIT 99.2</A></TD></TR>
<TR><TD colspan="9"><A HREF="v81204ex99-3.txt">EXHIBIT 99.3</A></TD></TR>
<TR><TD colspan="9"><A HREF="v81204ex99-4.txt">EXHIBIT 99.4</A></TD></TR>
</TABLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 "PART II" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>PART II</B></FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN REGISTRATION STATEMENT</B></FONT>

<!-- link2 "Item&nbsp;3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with the Securities and Exchange Commission
(the &#147;Commission&#148;) by Getty Images, Inc. (the &#147;Company&#148;), are hereby
incorporated by reference into this Registration Statement:
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2001,
filed on March&nbsp;29, 2002, which contains audited financial statements for the
most recent fiscal year for which such statements have been filed.
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;All other reports filed pursuant to Section&nbsp;13(a) or 15(d) of the
Exchange Act since December&nbsp;31, 2001.
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c),
14 or 15(d) of the Exchange Act after the date hereof, and prior to the filing
of a post-effective amendment which indicates that the securities offered
hereby have been sold or which deregisters the securities covered hereby then
remaining unsold, shall also be deemed to be incorporated by reference into
this Registration Statement and to be a part hereof commencing on the
respective dates on which such documents are filed.
</FONT>
<!-- link2 "Item&nbsp;4. DESCRIPTION OF SECURITIES" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;4. DESCRIPTION OF SECURITIES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s authorized capital stock consists of 75,000,000 shares of
common stock, par value $0.01 per share, and 5,000,000 shares of preferred
stock, par value $0.01 per share. One share of preferred stock has been
designated as Series&nbsp;A special voting preferred stock and is outstanding and
one share of preferred stock has been designated as Series&nbsp;B special voting
stock and is outstanding. No other shares of preferred stock are currently
outstanding.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary description of the Company&#146;s capital stock.
The Company&#146;s bylaws and the restated certificate of incorporation provide
further information about the capital stock.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMMON STOCK
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each holder of the Company&#146;s common stock is entitled to one vote per
share on all matters to be voted upon by the stockholders. Subject to
preferences that may be applicable to any outstanding preferred stock, each
holder of the Company&#146;s common stock is entitled to receive dividends, if any,
as may be declared from time to time by the board of directors out of funds
legally available therefor. In the event of the Company&#146;s liquidation,
dissolution or winding up, each holder of common stock is entitled to share
ratably in all assets remaining after payment of liabilities, subject to the
rights of the holders of any class of preferred stock then outstanding. The
holders of common stock have no preemptive or conversion rights or other
subscription rights. There are no redemption or sinking fund provisions
applicable to the common stock. All outstanding shares of the common stock are
fully paid and nonassessable.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PREFERRED STOCK
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The board of directors of the Company has the authority to issue preferred
stock in one or more classes or series and to fix the rights, preferences,
privileges and related restrictions, including dividend rights, dividend rates,
conversion rights, voting rights, terms of redemption, redemption prices,
liquidation preferences and the number of shares constituting any class or
series or the designation of the
</FONT>
<P align="center"><FONT size="2">II-1
</FONT>

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<P><FONT size="2">class or series, without the approval of the Company&#146;s stockholders. The
authority of the board of directors to issue preferred stock without approval
of the stockholders may have the effect of delaying, deferring or preventing a
change in control of the Company and may adversely affect the voting and other
rights of the holders of the common stock. The issuance of preferred stock
with voting and conversion rights may adversely affect the voting power of the
holders of the common stock, including the loss of voting control to others.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has issued one share of Series&nbsp;A special voting preferred
stock and one share of Series&nbsp;B special voting preferred stock, collectively
referred to as &#147;special voting stock.&#148; The holder of the special voting stock
is not entitled to receive dividends or to participate in the proceeds of any
liquidation, and the certificates of designation governing the special voting
stock provide no rights or preferences other than the voting rights described
below. The special voting stock is held by Montreal Trust Company of Canada,
as trustee, under two voting trust and exchange rights agreements. Under these
agreements, Montreal Trust is obligated to vote the Series&nbsp;A special voting
stock and the Series&nbsp;B special voting stock in accordance with the instructions
received from the holders of the exchangeable non-voting shares of EyeWire
Partners, Inc. and 3032097 Nova Scotia Limited, respectively.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The holder of the special voting stock is entitled to vote with the
holders of common stock as a single class on all matters submitted to a vote of
the stockholders, except as otherwise provided by law. The voting rights of
the holder of the special voting stock are identical to those of the holders of
common stock in all respects, except that the holder of the special voting
stock is entitled to a number of votes equal to the number of shares of the
common stock issuable upon the exchange of (a)&nbsp;in the case of the Series&nbsp;A
special voting stock, the outstanding exchangeable non-voting shares of EyeWire
Partners, Inc. and (b)&nbsp;in the case of the Series&nbsp;B special voting stock, the
outstanding exchangeable non-voting shares of 3032097 Nova Scotia Limited, in
each case excluding exchangeable non-voting shares which are owned by the
Company, any of the Company&#146;s subsidiaries and any person directly or
indirectly controlled by or under common control with the Company. All of the
exchangeable non-voting shares of EyeWire Partners, Inc. are held by one of the
Company&#146;s controlled subsidiaries and, therefore, the Series&nbsp;A special voting
stock is not currently entitled to exercise voting rights.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXCHANGEABLE NON-VOTING SHARES IN 3032097 NOVA SCOTIA LIMITED
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the Company&#146;s acquisition of EyeWire Partners, Inc., pursuant to a
Combination Agreement dated August&nbsp;5, 1999, the former stockholders of EyeWire Partners, Inc.
received an aggregate of 1,561,010 exchangeable non-voting shares of 3032097
Nova Scotia Limited, a subsidiary the Company formed to complete the EyeWire
acquisition. Each exchangeable non-voting share is exchangeable for one share
of the Company&#146;s common stock. The Company has an effective shelf registration
statement in place with respect to the resale of the common stock by such
former EyeWire Partners, Inc. stockholders. The former stockholders of EyeWire Partners, Inc. must exchange
their exchangeable non-voting shares into the shares of the Company&#146;s common
stock before they can sell shares under the shelf registration statement.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ANTI-TAKEOVER EFFECTS OF PROVISIONS OF DELAWARE LAW, THE CERTIFICATE OF
INCORPORATION AND THE BYLAWS
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section&nbsp;203 of the Delaware General Corporation Law</I>
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is a Delaware corporation subject to the provisions of Section
203 of the Delaware General Corporation Law. Section&nbsp;203 generally provides
that a stockholder acquiring more than 15%, but less than 85%, of the
outstanding voting stock of a corporation subject to Section&nbsp;203 may not engage
in a &#147;business combination,&#148; as defined in Section&nbsp;203, with the corporation
for a period of three years from the date on which that stockholder became an
&#147;interested stockholder,&#148; as defined in Section&nbsp;203, unless:
</FONT>
<P align="center"><FONT size="2">II-2
</FONT>

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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="1%" align="left"><FONT size="2">&#149;</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="97%"><FONT size="2">prior to such date the board of directors of the corporation approved
either the business combination or the transaction in which the stockholder
became an interested stockholder; or</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="1%" align="left"><FONT size="2">&#149;</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="97%"><FONT size="2">the business combination is approved by the board of directors of the
corporation and authorized by the holders of at least 66 2/3% of the
outstanding voting stock of the corporation not owned by the interested
stockholder.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A &#147;business combination&#148; includes a merger, asset sale or other
transaction resulting in a financial benefit to a stockholder. In general, an
&#147;interested stockholder&#148; is a person who, together with its affiliates, owns,
or within three years prior to the determination of the interested stockholder
status, did own, 15% or more of the voting stock of the corporation. Section
203 could prohibit or delay a merger or other takeover or change of control
transaction with respect to the Company and, accordingly, may discourage
actions that could result in a premium over the market price for the shares
held by the stockholders.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Issuance of Preferred Stock</I>
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The board of directors is authorized to issue 5,000,000 shares of
preferred stock and determine the powers, preferences and special rights of any
unissued series of preferred stock, including voting rights, dividend rights,
terms of redemption, conversion rights and the designation of any such series,
without the approval of the stockholders. As a result, the board of directors
could issue preferred stock quickly and easily, which could adversely affect
the rights of holders of the common stock. The board of directors could issue
the preferred stock with terms calculated to delay or prevent a change in
control or make removal of management more difficult.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Classification of the Board of Directors</I>
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The restated certificate of incorporation provides that the board of
directors will consist of up to ten directors and be divided into three
classes. The directors in each class will serve three-year terms, with one
class being elected each year by the stockholders. The term of the Class&nbsp;I
directors (two directors) will expire at the annual meeting of stockholders to
be held in 2004; the term of the Class&nbsp;II directors (two directors) will expire
at the annual meeting of stockholders to be held in 2002; and the term of the
Class&nbsp;III directors (two directors) will expire at the annual meeting of
stockholders to be held in 2003. At each annual meeting of stockholders, the
successors to directors whose terms will then expire will be elected to serve
for a three-year term. Because this system of electing and removing directors
generally makes it more difficult for stockholders to replace a majority of the
board of directors, it may discourage a third party from making a tender offer
or otherwise attempting to gain control of the Company and may maintain the
incumbency of the board of directors.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Stockholder Action; Special Meetings of Stockholders</I>
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The restated certificate of incorporation provides that the stockholders
may not take action by written consent, and can only take action at a duly
called annual or special meeting of stockholders. The certificate further
provides that, unless otherwise prescribed by statute or by the restated
certificate of incorporation, special meetings of stockholders may only be
called by the Chairman of the Board, the President or the Secretary of the
Company, at the written request of at least two-thirds of the entire board of
directors or the record holders of at least a majority of the outstanding
shares of the common stock. These provisions could discourage potential
acquisition proposals and could delay or prevent a change in control. These
provisions are intended to enhance the likelihood of continuity and stability
in the composition of the board of directors and in the policies formulated by
the board of directors and to discourage certain types of transactions that may
involve an actual or threatened change of control. These provisions are
designed to reduce the Company&#146;s vulnerability to an unsolicited acquisition
</FONT>
<P align="center"><FONT size="2">II-3
</FONT>

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<P><FONT size="2">proposal and to discourage certain tactics that may be used in proxy
contests. Such provisions could have the effect of discouraging others from
making tender offers for the Company&#146;s shares.
</FONT>
<!-- link2 "Item&nbsp;5. INTERESTS OF NAMED EXPERTS AND COUNSEL" -->
<DIV align="left"><A NAME="003"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;5. INTERESTS OF NAMED EXPERTS AND COUNSEL</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.
</FONT>
<!-- link2 "Item&nbsp;6. INDEMNIFICATION OF DIRECTORS AND OFFICERS" -->
<DIV align="left"><A NAME="004"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s restated certificate of incorporation provides that, except
to the extent prohibited by Delaware law, directors of the Company shall not be
personally liable to the Company or its stockholders for monetary damages for
any breach of fiduciary duty as a director. Under Delaware law, the directors
have a fiduciary duty to the Company that is not eliminated by this provision
of the restated certificate of incorporation and, in appropriate circumstances,
equitable remedies such as injunctive or other forms of nonmonetary relief will
remain available. In addition, each director will continue to be subject to
liability under Delaware law for breach of the director&#146;s duty of loyalty to
the Company for acts or omissions which are found by a court of competent
jurisdiction to be not in good faith or that involve intentional misconduct, or
knowing violations of law, for actions leading to improper personal benefit to
the director, and for payment of dividends or approval of stock repurchases or
redemptions that are prohibited by Delaware law. This provision also does not
affect the directors&#146; responsibilities under any other law, such as the federal
securities laws.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 of the Delaware General Corporation Law empowers a corporation
to indemnify its directors and officers and to purchase insurance with respect
to liability arising out of their capacity or status as directors and officers,
provided that this provision shall not eliminate or limit the liability of a
director:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="1%" align="left"><FONT size="2">&#149;</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="97%"><FONT size="2">for any breach of the director&#146;s duty of loyalty to the corporation or
its stockholders;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="1%" align="left"><FONT size="2">&#149;</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="97%"><FONT size="2">for acts or omissions not in good faith or which involve
intentional misconduct or a knowing violation of law;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="1%" align="left"><FONT size="2">&#149;</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="97%"><FONT size="2">arising under Section&nbsp;174 of the Delaware General Corporation Law; or</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
   <TD width="1%" align="left"><FONT size="2">&#149;</FONT></TD>
   <TD width="1%" nowrap><FONT size="2">&nbsp;&nbsp;</FONT></TD>
   <TD width="97%"><FONT size="2">for any transaction from which the director derived an improper personal benefit.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delaware law provides further that the indemnification permitted by that
law shall not be deemed exclusive of any other rights to which the directors
and officers may be entitled under a corporation&#146;s bylaws, an agreement, a vote
of stockholders or otherwise. The Company&#146;s restated certificate of
incorporation eliminates the personal liability of directors to the fullest
extent permitted by Section&nbsp;102(b)(7) of the Delaware General Corporation Law
and provides that the Company may fully indemnify any person who was or is a
party or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative
or investigative, by reason of the fact that such person is or was an employee,
director or officer of the Company or is or was serving at the Company&#146;s
request as an employee, director or officer of another corporation,
partnership, joint venture, trust or other enterprise, against 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.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has entered into indemnification agreements to indemnify its
directors and certain officers, in addition to the indemnification provided in
the bylaws and the restated certificate of incorporation. The Company believes
that these provisions and agreements are necessary to attract and
</FONT>
<P align="center"><FONT size="2">II-4
</FONT>

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<P><FONT size="2">retain qualified directors and officers. The bylaws and the restated
certificate of incorporation also permit the Company to secure insurance on
behalf of any officer, director, employee or other agent for any liability
arising out of his or her actions, regardless of whether Delaware law would
permit indemnification.
</FONT>
<!-- link2 "Item&nbsp;7. EXEMPTION FROM REGISTRATION CLAIMED" -->
<DIV align="left"><A NAME="005"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;7. EXEMPTION FROM REGISTRATION CLAIMED</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<!-- link2 "Item&nbsp;8. EXHIBITS" -->
<DIV align="left"><A NAME="006"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;8. EXHIBITS</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%">
<TR valign="bottom">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="92%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="3"><FONT size="1">Exhibit</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="3"><FONT size="1">Number</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1">Description</FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
5.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Opinion of Perkins Coie LLP regarding legality of the Common Stock being
registered</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
23.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of PricewaterhouseCoopers LLP, Independent Accountants</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
23.2
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of PricewaterhouseCoopers, Independent Accountants</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
23.3
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of Perkins Coie LLP (included in opinion filed as Exhibit&nbsp;5.1)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
24.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Power of Attorney (see signature page)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Nonqualified Stock Option Agreement (Entered into as of July&nbsp;23, 2001)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.2
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Nonqualified Stock Option Agreement (Entered into as of July&nbsp;23, 2001)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.3
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Nonqualified Stock Option Agreement (Entered into as of July&nbsp;23, 2001)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.4
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Nonqualified Stock Option Agreement (Entered into as of November&nbsp;12, 2001)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<!-- link2 "Item&nbsp;9. UNDERTAKINGS" -->
<DIV align="left"><A NAME="007"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;9. UNDERTAKINGS</B></FONT>

<P><FONT size="2">A.&nbsp;The undersigned Registrant hereby undertakes:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp; To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the
Securities Act;
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;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; and
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
</FONT>

<P><FONT size="2">provided, however, that paragraphs (1)(i) and (1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant pursuant to
Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp; That, for the purpose of determining any liability under the
Securities Act of 1933, as amended (the &#147;Securities Act&#148;), each such
post-effective amendment shall be deemed to be a new
</FONT>
<P align="center"><FONT size="2">II-5
</FONT>

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<P><FONT size="2">registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp; To remove from registration by means of a post-effective amendment any
of the securities being registered that remain unsold at the termination of the
offering.
</FONT>
<P><FONT size="2">B.&nbsp;The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant&#146;s annual report pursuant to Section&nbsp;13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefit plan&#146;s annual
report pursuant to Section&nbsp;15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
</FONT>
<P><FONT size="2">C. Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
</FONT>
<P align="center"><FONT size="2">II-6
</FONT>

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<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="008"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, the Registrant
certifies that it has reasonable grounds to believe that it meets all the
requirements for filing on Form&nbsp;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 Seattle, State of Washington, on the 10th
day of May, 2002.
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">GETTY IMAGES, INC.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="47%"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">By:&nbsp;&nbsp;&nbsp;</FONT></TD>
        <TD width="47%"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;Elizabeth J. Huebner<BR>
<HR noshade size="1">
Elizabeth J. Huebner<BR>
Senior Vice President and Chief Financial<BR>
Officer</FONT></TD>
</TR>

</TABLE>
<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below authorizes Jeffrey L. Beyle and
Elizabeth J. Huebner, or either of them, as attorneys-in-fact with full power
of substitution, to execute in the name and on the behalf of each person,
individually and in each capacity stated below, and to file, any and all
amendments to this Registration Statement, including any and all post-effective
amendments.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, this Registration
Statement has been signed by the following persons in the capacities indicated
below on the 10th day of May, 2002.
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="75%">
<TR valign="bottom">
        <TD width="50%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>SIGNATURE</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>TITLE</B></FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">

<TD align="center" valign="top"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;JONATHAN D. KLEIN</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Chief Executive Officer and Director</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><HR noshade size="1"></FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">(Principal Executive Officer)</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Jonathan D. Klein</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
</FONT></DIV></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;ELIZABETH J. HUEBNER</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Senior Vice President and Chief Financial Officer</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><HR noshade size="1"> </FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
(Principal Financial and Accounting Officer)</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Elizabeth J. Huebner</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"></FONT></DIV></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">/s/
&nbsp;&nbsp;&nbsp;MARK H. GETTY</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Executive Chairman and Director</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><HR noshade size="1"></FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Mark H. Getty</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"></DIV></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;JAMES N. BAILEY</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Director</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><HR noshade size="1"></FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">James N. Bailey</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"></DIV></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">

<TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;ANDREW S. GARB</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Director</FONT></DIV></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><HR noshade size="1"></FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
&nbsp;</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Andrew S. Garb</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"></DIV></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;CHRISTOPHER H. SPORBORG</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Director</FONT></DIV></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><HR noshade size="1"> </FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"></FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Christopher H. Sporborg</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"></DIV></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;MARK TORRANCE</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Director</FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"><HR noshade size="1"></FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"></FONT></DIV></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Mark Torrance</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><DIV style="margin-left:10px; text-indent:-10px"></DIV></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">II-7
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="009"></A></DIV>
<P align="center"><FONT size="2"><B>INDEX TO EXHIBITS</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%">
<TR valign="bottom">
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="92%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="3"><FONT size="1">Exhibit</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="3"><FONT size="1">Number</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1">Description</FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
5.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Opinion of Perkins Coie LLP regarding legality of the Common Stock being
registered</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
23.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of PricewaterhouseCoopers LLP, Independent Accountants</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
23.2
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of PricewaterhouseCoopers, Independent Accountants</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
23.3
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of Perkins Coie LLP (included in opinion filed as Exhibit&nbsp;5.1)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
24.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Power of Attorney (see signature page)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Nonqualified Stock Option Agreement (Entered into as of July&nbsp;23, 2001)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.2
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Nonqualified Stock Option Agreement (Entered into as of July&nbsp;23, 2001)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.3
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Nonqualified Stock Option Agreement (Entered into as of July&nbsp;23, 2001)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.4
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Nonqualified Stock Option Agreement (Entered into as of November&nbsp;12, 2001)</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2">II-8</FONT>


</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "v81204s-8.htm", "description": "FORM S-8", "secsgml_size_bytes": 61984}]
{"company-data": {"conformed-name": "GETTY IMAGES INC", "cik": "0001047202", "assigned-sic": "7389", "irs-number": "980177556", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-88060", "film-number": "02642355"}, "business-address": {"street1": "601 NORTH 34TH STREET", "city": "SEATTLE", "state": "WA", "zip": "98103", "phone": "2069255000"}, "mail-address": {"street1": "601 NORTH 34TH STREET", "city": "SEATTLE", "state": "WA", "zip": "98103"}}
GETTY IMAGES, INC.
Table of Contents
As filed with the Securities and
Exchange Commission on May 10, 2002
Registration No. 333-_____
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
______________________
GETTY IMAGES, INC.
(Exact name of registrant as specified in its charter)
Delaware
98-0177556
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
601 N. 34th Street
Seattle, Washington 98103
(206) 925-5000
(Address, including zip code, and telephone number, including area
code of principal executive offices)
NONQUALIFIED STOCK OPTION AGREEMENT (ENTERED INTO AS OF JULY 23, 2001)
NONQUALIFIED STOCK OPTION AGREEMENT (ENTERED INTO AS OF JULY 23, 2001)
NONQUALIFIED STOCK OPTION AGREEMENT (ENTERED INTO AS OF JULY 23, 2001)
NONQUALIFIED STOCK OPTION AGREEMENT (ENTERED INTO AS OF NOVEMBER 12, 2001)
(Full title of the plans)
Jeffrey L. Beyle
Senior Vice President and General Counsel
Getty Images, Inc.
601 N. 34th Street
Seattle, Washington 98103
(206) 925-5000
(Name, address and telephone number, including area code, of agent for service)
______________________
Copies to:
J. Sue Morgan
Perkins Coie LLP
1201 Third Avenue, Suite 4800
Seattle, Washington 98101-3099
(206) 583-8888
______________________
CALCULATION OF REGISTRATION
FEE
Amount to Be
Proposed Maximum
Proposed Maximum
Amount of
Title of Securities to be Registered
Registered(1)
Offering Price Per Share
Aggregate Offering Price
Registration Fee
Common Stock, par value $.01 per share, subject to:
Nonqualified Stock Option Agreement (entered
into as of July 23, 2001)
8,333
$
15.80
(2)
$
131,661.40
$
12.11
(2)
Nonqualified Stock Option Agreement (entered
into as of July 23, 2001)
8,333
$
15.80
(2)
$
131,661.40
$
12.11
(2)
Nonqualified Stock Option Agreement (entered
into as of July 23, 2001)
8,333
$
15.80
(2)
$
131,661.40
$
12.11
(2)
Nonqualified Stock Option Agreement (entered
into as of November 12, 2001)
40,000
$
17.70
(3)
$
708,000.00
$
65.14
(3)
TOTAL
64,999
$
1,102,984.20
$
101.47
(1)
Together with an indeterminate number of additional shares which may be
necessary to adjust the number of shares reserved for issuance pursuant to
the stock option agreements as the result of any future stock split, stock
dividend, spin-off, combination or exchange of shares, recapitalization,
merger, consolidation, distribution to shareholders other than a normal
cash dividend or similar adjustment to the Registrant's outstanding common
stock.
Table of Contents
(2)
Pursuant to Rule 457(h) under the Securities Act of 1933, as amended, and
solely for the purpose of calculating the registration fee, the maximum
offering price per share under the agreements is $15.80, the price at
which each of the options may be exercised. This price is equal to the
average of the high and low sales prices per share of the Registrant's
common stock on the Nasdaq National Market on July 23, 2001.
(3)
Pursuant to Rule 457(h) under the Securities Act of 1933, as amended, and
solely for the purpose of calculating the registration fee, the maximum
offering price per share under the agreement is $17.70, the price at which
each of the options may be exercised. This price is equal to the average
of the high and low sales prices per share of the Registrant's common
stock on the Nasdaq National Market on November 12, 2001.
TABLE OF CONTENTS
PART II
Item 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
Item 4. DESCRIPTION OF SECURITIES
Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Item 7. EXEMPTION FROM REGISTRATION CLAIMED
Item 8. EXHIBITS
Item 9. UNDERTAKINGS
SIGNATURES
INDEX TO EXHIBITS
EXHIBIT 5.1
EXHIBIT 23.1
EXHIBIT 23.2
EXHIBIT 99.1
EXHIBIT 99.2
EXHIBIT 99.3
EXHIBIT 99.4
Table of Contents
PART II
INFORMATION REQUIRED IN REGISTRATION STATEMENT
Item 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The following documents filed with the Securities and Exchange Commission
(the "Commission") by Getty Images, Inc. (the "Company"), are hereby
incorporated by reference into this Registration Statement:
(a) The Annual Report on Form 10-K for the year ended December 31, 2001,
filed on March 29, 2002, which contains audited financial statements for the
most recent fiscal year for which such statements have been filed.
(b) All other reports filed pursuant to Section 13(a) or 15(d) of the
Exchange Act since December 31, 2001.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c),
14 or 15(d) of the Exchange Act after the date hereof, and prior to the filing
of a post-effective amendment which indicates that the securities offered
hereby have been sold or which deregisters the securities covered hereby then
remaining unsold, shall also be deemed to be incorporated by reference into
this Registration Statement and to be a part hereof commencing on the
respective dates on which such documents are filed.
Item 4. DESCRIPTION OF SECURITIES
The Company's authorized capital stock consists of 75,000,000 shares of
common stock, par value $0.01 per share, and 5,000,000 shares of preferred
stock, par value $0.01 per share. One share of preferred stock has been
designated as Series A special voting preferred stock and is outstanding and
one share of preferred stock has been designated as Series B special voting
stock and is outstanding. No other shares of preferred stock are currently
outstanding.
The following is a summary description of the Company's capital stock.
The Company's bylaws and the restated certificate of incorporation provide
further information about the capital stock.
COMMON STOCK
Each holder of the Company's common stock is entitled to one vote per
share on all matters to be voted upon by the stockholders. Subject to
preferences that may be applicable to any outstanding preferred stock, each
holder of the Company's common stock is entitled to receive dividends, if any,
as may be declared from time to time by the board of directors out of funds
legally available therefor. In the event of the Company's liquidation,
dissolution or winding up, each holder of common stock is entitled to share
ratably in all assets remaining after payment of liabilities, subject to the
rights of the holders of any class of preferred stock then outstanding. The
holders of common stock have no preemptive or conversion rights or other
subscription rights. There are no redemption or sinking fund provisions
applicable to the common stock. All outstanding shares of the common stock are
fully paid and nonassessable.
PREFERRED STOCK
The board of directors of the Company has the authority to issue preferred
stock in one or more classes or series and to fix the rights, preferences,
privileges and related restrictions, including dividend rights, dividend rates,
conversion rights, voting rights, terms of redemption, redemption prices,
liquidation preferences and the number of shares constituting any class or
series or the designation of the
II-1
Table of Contents
class or series, without the approval of the Company's stockholders. The
authority of the board of directors to issue preferred stock without approval
of the stockholders may have the effect of delaying, deferring or preventing a
change in control of the Company and may adversely affect the voting and other
rights of the holders of the common stock. The issuance of preferred stock
with voting and conversion rights may adversely affect the voting power of the
holders of the common stock, including the loss of voting control to others.
The Company has issued one share of Series A special voting preferred
stock and one share of Series B special voting preferred stock, collectively
referred to as "special voting stock." The holder of the special voting stock
is not entitled to receive dividends or to participate in the proceeds of any
liquidation, and the certificates of designation governing the special voting
stock provide no rights or preferences other than the voting rights described
below. The special voting stock is held by Montreal Trust Company of Canada,
as trustee, under two voting trust and exchange rights agreements. Under these
agreements, Montreal Trust is obligated to vote the Series A special voting
stock and the Series B special voting stock in accordance with the instructions
received from the holders of the exchangeable non-voting shares of EyeWire
Partners, Inc. and 3032097 Nova Scotia Limited, respectively.
The holder of the special voting stock is entitled to vote with the
holders of common stock as a single class on all matters submitted to a vote of
the stockholders, except as otherwise provided by law. The voting rights of
the holder of the special voting stock are identical to those of the holders of
common stock in all respects, except that the holder of the special voting
stock is entitled to a number of votes equal to the number of shares of the
common stock issuable upon the exchange of (a) in the case of the Series A
special voting stock, the outstanding exchangeable non-voting shares of EyeWire
Partners, Inc. and (b) in the case of the Series B special voting stock, the
outstanding exchangeable non-voting shares of 3032097 Nova Scotia Limited, in
each case excluding exchangeable non-voting shares which are owned by the
Company, any of the Company's subsidiaries and any person directly or
indirectly controlled by or under common control with the Company. All of the
exchangeable non-voting shares of EyeWire Partners, Inc. are held by one of the
Company's controlled subsidiaries and, therefore, the Series A special voting
stock is not currently entitled to exercise voting rights.
EXCHANGEABLE NON-VOTING SHARES IN 3032097 NOVA SCOTIA LIMITED
In connection with the Company's acquisition of EyeWire Partners, Inc., pursuant to a
Combination Agreement dated August 5, 1999, the former stockholders of EyeWire Partners, Inc.
received an aggregate of 1,561,010 exchangeable non-voting shares of 3032097
Nova Scotia Limited, a subsidiary the Company formed to complete the EyeWire
acquisition. Each exchangeable non-voting share is exchangeable for one share
of the Company's common stock. The Company has an effective shelf registration
statement in place with respect to the resale of the common stock by such
former EyeWire Partners, Inc. stockholders. The former stockholders of EyeWire Partners, Inc. must exchange
their exchangeable non-voting shares into the shares of the Company's common
stock before they can sell shares under the shelf registration statement.
ANTI-TAKEOVER EFFECTS OF PROVISIONS OF DELAWARE LAW, THE CERTIFICATE OF
INCORPORATION AND THE BYLAWS
Section 203 of the Delaware General Corporation Law
The Company is a Delaware corporation subject to the provisions of Section
203 of the Delaware General Corporation Law. Section 203 generally provides
that a stockholder acquiring more than 15%, but less than 85%, of the
outstanding voting stock of a corporation subject to Section 203 may not engage
in a "business combination," as defined in Section 203, with the corporation
for a period of three years from the date on which that stockholder became an
"interested stockholder," as defined in Section 203, unless:
II-2
Table of Contents
•
prior to such date the board of directors of the corporation approved
either the business combination or the transaction in which the stockholder
became an interested stockholder; or
•
the business combination is approved by the board of directors of the
corporation and authorized by the holders of at least 66 2/3% of the
outstanding voting stock of the corporation not owned by the interested
stockholder.
A "business combination" includes a merger, asset sale or other
transaction resulting in a financial benefit to a stockholder. In general, an
"interested stockholder" is a person who, together with its affiliates, owns,
or within three years prior to the determination of the interested stockholder
status, did own, 15% or more of the voting stock of the corporation. Section
203 could prohibit or delay a merger or other takeover or change of control
transaction with respect to the Company and, accordingly, may discourage
actions that could result in a premium over the market price for the shares
held by the stockholders.
Issuance of Preferred Stock
The board of directors is authorized to issue 5,000,000 shares of
preferred stock and determine the powers, preferences and special rights of any
unissued series of preferred stock, including voting rights, dividend rights,
terms of redemption, conversion rights and the designation of any such series,
without the approval of the stockholders. As a result, the board of directors
could issue preferred stock quickly and easily, which could adversely affect
the rights of holders of the common stock. The board of directors could issue
the preferred stock with terms calculated to delay or prevent a change in
control or make removal of management more difficult.
Classification of the Board of Directors
The restated certificate of incorporation provides that the board of
directors will consist of up to ten directors and be divided into three
classes. The directors in each class will serve three-year terms, with one
class being elected each year by the stockholders. The term of the Class I
directors (two directors) will expire at the annual meeting of stockholders to
be held in 2004; the term of the Class II directors (two directors) will expire
at the annual meeting of stockholders to be held in 2002; and the term of the
Class III directors (two directors) will expire at the annual meeting of
stockholders to be held in 2003. At each annual meeting of stockholders, the
successors to directors whose terms will then expire will be elected to serve
for a three-year term. Because this system of electing and removing directors
generally makes it more difficult for stockholders to replace a majority of the
board of directors, it may discourage a third party from making a tender offer
or otherwise attempting to gain control of the Company and may maintain the
incumbency of the board of directors.
Stockholder Action; Special Meetings of Stockholders
The restated certificate of incorporation provides that the stockholders
may not take action by written consent, and can only take action at a duly
called annual or special meeting of stockholders. The certificate further
provides that, unless otherwise prescribed by statute or by the restated
certificate of incorporation, special meetings of stockholders may only be
called by the Chairman of the Board, the President or the Secretary of the
Company, at the written request of at least two-thirds of the entire board of
directors or the record holders of at least a majority of the outstanding
shares of the common stock. These provisions could discourage potential
acquisition proposals and could delay or prevent a change in control. These
provisions are intended to enhance the likelihood of continuity and stability
in the composition of the board of directors and in the policies formulated by
the board of directors and to discourage certain types of transactions that may
involve an actual or threatened change of control. These provisions are
designed to reduce the Company's vulnerability to an unsolicited acquisition
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proposal and to discourage certain tactics that may be used in proxy
contests. Such provisions could have the effect of discouraging others from
making tender offers for the Company's shares.
Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
None.
Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
The Company's restated certificate of incorporation provides that, except
to the extent prohibited by Delaware law, directors of the Company shall not be
personally liable to the Company or its stockholders for monetary damages for
any breach of fiduciary duty as a director. Under Delaware law, the directors
have a fiduciary duty to the Company that is not eliminated by this provision
of the restated certificate of incorporation and, in appropriate circumstances,
equitable remedies such as injunctive or other forms of nonmonetary relief will
remain available. In addition, each director will continue to be subject to
liability under Delaware law for breach of the director's duty of loyalty to
the Company for acts or omissions which are found by a court of competent
jurisdiction to be not in good faith or that involve intentional misconduct, or
knowing violations of law, for actions leading to improper personal benefit to
the director, and for payment of dividends or approval of stock repurchases or
redemptions that are prohibited by Delaware law. This provision also does not
affect the directors' responsibilities under any other law, such as the federal
securities laws.
Section 145 of the Delaware General Corporation Law empowers a corporation
to indemnify its directors and officers and to purchase insurance with respect
to liability arising out of their capacity or status as directors and officers,
provided that this provision shall not eliminate or limit the liability of a
director:
•
for any breach of the director's duty of loyalty to the corporation or
its stockholders;
•
for acts or omissions not in good faith or which involve
intentional misconduct or a knowing violation of law;
•
arising under Section 174 of the Delaware General Corporation Law; or
•
for any transaction from which the director derived an improper personal benefit.
Delaware law provides further that the indemnification permitted by that
law shall not be deemed exclusive of any other rights to which the directors
and officers may be entitled under a corporation's bylaws, an agreement, a vote
of stockholders or otherwise. The Company's restated certificate of
incorporation eliminates the personal liability of directors to the fullest
extent permitted by Section 102(b)(7) of the Delaware General Corporation Law
and provides that the Company may fully indemnify any person who was or is a
party or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative
or investigative, by reason of the fact that such person is or was an employee,
director or officer of the Company or is or was serving at the Company's
request as an employee, director or officer of another corporation,
partnership, joint venture, trust or other enterprise, against 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.
The Company has entered into indemnification agreements to indemnify its
directors and certain officers, in addition to the indemnification provided in
the bylaws and the restated certificate of incorporation. The Company believes
that these provisions and agreements are necessary to attract and
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retain qualified directors and officers. The bylaws and the restated
certificate of incorporation also permit the Company to secure insurance on
behalf of any officer, director, employee or other agent for any liability
arising out of his or her actions, regardless of whether Delaware law would
permit indemnification.
Item 7. EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
Item 8. EXHIBITS
Exhibit
Number
Description
5.1
Opinion of Perkins Coie LLP regarding legality of the Common Stock being
registered
23.1
Consent of PricewaterhouseCoopers LLP, Independent Accountants
23.2
Consent of PricewaterhouseCoopers, Independent Accountants
23.3
Consent of Perkins Coie LLP (included in opinion filed as Exhibit 5.1)
24.1
Power of Attorney (see signature page)
99.1
Nonqualified Stock Option Agreement (Entered into as of July 23, 2001)
99.2
Nonqualified Stock Option Agreement (Entered into as of July 23, 2001)
99.3
Nonqualified Stock Option Agreement (Entered into as of July 23, 2001)
99.4
Nonqualified Stock Option Agreement (Entered into as of November 12, 2001)
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;
(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; and
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
provided, however, that paragraphs (1)(i) and (1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant pursuant to
Section 13 or Section 15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.
(2)  That, for the purpose of determining any liability under the
Securities Act of 1933, as amended (the "Securities Act"), each such
post-effective amendment shall be deemed to be a new
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registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(3)  To remove from registration by means of a post-effective amendment any
of the securities being registered that 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, each filing of the
Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefit plan's annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
C. Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act, the Registrant
certifies that it has reasonable grounds to believe that it meets all 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 Seattle, State of Washington, on the 10th
day of May, 2002.
GETTY IMAGES, INC.
By:
/s/   Elizabeth J. Huebner
Elizabeth J. Huebner
Senior Vice President and Chief Financial
Officer
POWER OF ATTORNEY
Each person whose signature appears below authorizes Jeffrey L. Beyle and
Elizabeth J. Huebner, or either of them, as attorneys-in-fact with full power
of substitution, to execute in the name and on the behalf of each person,
individually and in each capacity stated below, and to file, any and all
amendments to this Registration Statement, including any and all post-effective
amendments.
Pursuant to the requirements of the Securities Act, this Registration
Statement has been signed by the following persons in the capacities indicated
below on the 10th day of May, 2002.
SIGNATURE
TITLE
/s/   JONATHAN D. KLEIN
Chief Executive Officer and Director
(Principal Executive Officer)
Jonathan D. Klein
/s/   ELIZABETH J. HUEBNER
Senior Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)
Elizabeth J. Huebner
/s/
   MARK H. GETTY
Executive Chairman and Director
Mark H. Getty
/s/   JAMES N. BAILEY
Director
James N. Bailey
/s/   ANDREW S. GARB
Director
Andrew S. Garb
/s/   CHRISTOPHER H. SPORBORG
Director
Christopher H. Sporborg
/s/   MARK TORRANCE
Director
Mark Torrance
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INDEX TO EXHIBITS
Exhibit
Number
Description
5.1
Opinion of Perkins Coie LLP regarding legality of the Common Stock being
registered
23.1
Consent of PricewaterhouseCoopers LLP, Independent Accountants
23.2
Consent of PricewaterhouseCoopers, Independent Accountants
23.3
Consent of Perkins Coie LLP (included in opinion filed as Exhibit 5.1)
24.1
Power of Attorney (see signature page)
99.1
Nonqualified Stock Option Agreement (Entered into as of July 23, 2001)
99.2
Nonqualified Stock Option Agreement (Entered into as of July 23, 2001)
99.3
Nonqualified Stock Option Agreement (Entered into as of July 23, 2001)
99.4
Nonqualified Stock Option Agreement (Entered into as of November 12, 2001)
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