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<DIV align="center" style="font-size: 10pt; margin-top: 18pt">As filed with the Securities and Exchange Commission on December&nbsp;10, 2008
</DIV>


<DIV align="right" style="font-size: 10pt; margin-right: 4%">Registration No.&nbsp;333-
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>AQUA AMERICA, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in its Charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Pennsylvania</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>23-1702594</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction of Incorporation or Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>762 W. Lancaster Avenue<BR>
Bryn Mawr, PA 19010-3489</B><BR>
(Address and Zip Code of Principal Executive Offices)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>AQUA AMERICA, INC. 2009 EXECUTIVE DEFERRAL PLAN</B><BR>
(Full Title of the Plan)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Roy H. Stahl<BR>
Chief Administrative Officer and General Counsel<BR>
Aqua America, Inc.<BR>
762 W. Lancaster Avenue<BR>
Bryn Mawr, PA 19010-3489<BR>
(610)&nbsp;527-8000</B><BR>
(Name, Address, Zip Code and Telephone Number of Agent for Service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">Copy of all Communications to:</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Brian C. Miner<BR>
Morgan, Lewis &#038; Bockius LLP<BR>
1701 Market Street<BR>
Philadelphia, PA 19103<BR>
(215)&nbsp;963-5000</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large accelerated
filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the Exchange
Act. (Check one):
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 3pt">
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Large accelerated filer <FONT face="Wingdings">&#254;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Accelerated filer <FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Non-accelerated filer <FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Smaller reporting company <FONT face="Wingdings">&#111;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>(Do not check if a smaller reporting company)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 6pt">
    <TD width="1%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of Securities to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offering Price Per</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Aggregate Offering</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center" style="border-bottom: 1px solid #ffffff"><B>Registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #ffffff"><B>Registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Share</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Price (2)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #ffffff"><B>Registration Fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Deferred Compensation Obligations (1)</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">20,000,000</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">100</TD>
    <TD nowrap style="border-top: 2px solid #000000">%</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">20,000,000</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">786</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 3pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>The deferred compensation obligations under the Aqua America, Inc. 2009 Executive Deferral Plan are unsecured general obligations of Aqua America, Inc. to pay
deferred compensation in the future in accordance with the terms of the Aqua America, Inc. 2009 Executive Deferral Plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) under the Securities Act.</TD>
</TR>

</TABLE>



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "PART II" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></DIV>


<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents previously filed with the Securities and Exchange Commission (the
&#147;Commission&#148;) pursuant to the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;) are incorporated
in this registration statement by reference:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Annual Report on Form 10-K for the fiscal year ended December&nbsp;31,
2007, filed with the Commission on February&nbsp;27, 2008 (including
portions of our definitive Proxy Statement for the 2008 Annual Meeting
of Shareholders incorporated therein by reference);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Quarterly Reports on Form 10-Q for quarters ended March&nbsp;31, 2008,
June&nbsp;30, 2008 and September&nbsp;30, 2008, filed with the Commission on May
9, 2008, August&nbsp;8, 2008 and November&nbsp;7, 2008, respectively; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Current Reports on Form 8-K filed with the Commission on April&nbsp;24,
2008, May&nbsp;29, 2008 and July&nbsp;3, 2008.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all documents that we file pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d) of the
Exchange Act after the date of this Registration Statement and prior to the filing of a
post-effective amendment 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.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained in a document incorporated or deemed to be incorporated by reference
herein shall be deemed to be modified or superseded for purposes of this Registration Statement to
the extent that a statement contained herein or in any subsequently filed document which also is
incorporated or deemed to be incorporated by reference herein modifies or supersedes such
statement. Any such statement so modified or superseded shall not be deemed to constitute a part
of this Registration Statement except as so modified or superceded.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>EXPERTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our consolidated financial statements and management&#146;s assessment of the effectiveness of
internal control over financial reporting (which is included in Management&#146;s Report on Internal
Control over Financial Reporting), incorporated in this Registration Statement by reference to our
Annual Report on Form 10-K for the fiscal year ended December&nbsp;31, 2007, have been so incorporated
in reliance on the reports of PricewaterhouseCoopers LLP, an independent registered public
accounting firm, given on the authority of said firm as experts in auditing and accounting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, and only if, PricewaterhouseCoopers LLP consents to the incorporation by reference in this
Registration Statement of its reports relating to audited financial statements and effectiveness of
internal control over financial reporting included in a document subsequently filed by the
Registrant, such audited financial statements and management&#146;s assessment of the effectiveness of
internal control over financial reporting shall be incorporated herein in reliance upon such
reports of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on
the authority of said firm as experts in auditing and accounting.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "Item&nbsp;4. Description of Securities" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Aqua America, Inc. 2009 Executive Deferral Plan (the &#147;Plan&#148;), any individual
employed by the Registrant as an officer, senior manager or other highly compensated employee, on a
regular, full-time basis may participate in the Plan if designated by the Compensation Committee of
the Registrant&#146;s Board of Directors (the &#147;Committee&#148;). Prior to the beginning of any calendar year
or within 30&nbsp;days after first becoming eligible to participate in the Plan, eligible employees may
participate in the Plan by making an irrevocable election to defer an amount equal to a whole
percentage or dollar amount of his or her base salary and/or bonus to be earned for the upcoming
calendar year. When an eligible employee elects to defer any portion of his or her base salary
and/or bonus, the Registrant will create and maintain a book account (&#147;Account&#148;) that will be
credited with the elected contribution at the time such amount would otherwise have been paid. The
Committee may set a minimum and maximum amount that may be deferred under the Plan, and may change
the limits from time to time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant will also credit to the Account for each calendar year an amount equal to the
excess of the contribution that would have been made by the Registrant under the Aqua America, Inc.
401(k) Plan (&#147;401(k) Plan&#148;) on the participant&#146;s behalf as an employer&#146;s matching contribution if
it were not for the limitations imposed by the Internal Revenue Code (the &#147;Code&#148;) over the amount
actually contributed as an employer&#146;s matching contribution by the Registrant to the 401(k) Plan on
the participant&#146;s behalf. Such credits shall be deemed to have occurred at the time such amounts
would otherwise have been contributed to the 401(k) Plan or at such other time as is specified by
the Registrant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an eligible employee is also a participant in the Aqua America Inc. Supplemental Executive
Retirement Plan for Nicholas DeBenedictis (&#147;SERP&#148;) or the Aqua America Inc. Supplemental Pension
Plan for Salaried Employees (&#147;Excess Plan&#148;), he or she may elect in 2008 to have his or her SERP or
Excess Plan benefit credited to the participant&#146;s Account at separation from service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The amounts credited to a participant&#146;s Account will be deemed invested in one or more
investment options, which may be individually chosen by each participant from investment
alternatives made available from time to time under the Plan. In the absence of a valid investment
election by the participant, his or her Account will be deemed to be invested in the manner
selected by the Committee. Each participant&#146;s Account will be adjusted to reflect the investment
performance of the selected investments. Gains, losses and income returns of deemed investments
will be posted to the participant&#146;s Account periodically. The investment alternatives are for
bookkeeping purposes only, and the Registrant is not obligated to invest in the investment
alternatives specified by the participants.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A participant can determine how his or her Account will be distributed, by establishing in
advance up to five separation distribution Accounts and up to five flexible distribution Accounts
under the Plan. Pursuant to the participant&#146;s election, when the participant separates from
employment, his or her separation distribution Accounts under the Plan will be distributed in a
lump sum payment at specified dates or in annual installments, as elected by the participant (with
deemed investment gains or losses continuing to be posted to the participant&#146;s Account for each
subsequent calendar year). If the aggregate value of a participant&#146;s separation distribution
Accounts is less than $25,000 at separation from employment, the participant&#146;s separation
distribution Accounts will be distributed in a lump sum payment. Also, if the participant&#146;s
separation from employment is before the participant attains age 55, the participant&#146;s separation
distribution Accounts will be distributed in a lump sum payment. Pursuant to a participant&#146;s
election, his or her flexible distribution Accounts will be distributed on the dates specified by
the participant in accordance with the terms of the Plan. If the participant is a key employee
under section 409A of the Code, his or her Accounts that are payable upon separation from
employment, may not be distributed earlier than the first day of the seventh month following the
date of the participant&#146;s separation from employment.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s obligations to pay the deferred compensation (as adjusted for deemed gains,
losses and investment returns) in the future in accordance with the terms of the Plan (&#147;Deferred
Compensation Obligations&#148;) will constitute unsecured general obligations of the Registrant, payable
solely out of the Registrant&#146;s general assets. The Registrant&#146;s Board of Directors may, but is not
required to, authorize the establishment of a &#147;rabbi&#148; trust with respect to the Plan. In any
event, participants in the Plan will have no right to any of the Registrant&#146;s specific assets or,
if applicable, any trust assets. It is the Registrant&#146;s intention that the Plan be unfunded for tax
purposes and for purposes of Title I of the Employee Retirement Income Security Act of 1974, as
amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Deferred Compensation Obligations are not convertible into any other security of the
Registrant. The Deferred Compensation Obligations will not have the benefit of a negative pledge
or any other affirmative covenant on the part of the Registrant. No trustee has been appointed
having the authority to take action with respect to the Deferred Compensation Obligations and each
participant will be responsible for acting independently with respect to, among other things, the
giving of notices, responding to any requests for consents, waivers or amendments pertaining to the
Deferred Compensation Obligations, enforcing covenants and taking action upon a default.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A participant&#146;s rights under the Plan (including its rights to payment of the Deferred
Compensation Obligations) cannot be assigned, transferred, pledged or encumbered.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant has the right to amend or terminate the Plan at any time without prior notice
to or consent of any person. However, no such amendment or terminations shall have the effect of
divesting a participant of the benefit which the participant would otherwise receive under the Plan
at the time of such amendment or termination.
</DIV>
<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable.
</DIV>
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant is a Pennsylvania corporation. Sections&nbsp;1741 and 1742 of the Pennsylvania
Business Corporation Law of 1988, as amended (the &#147;PBCL&#148;), provide that, unless otherwise
restricted in its bylaws, a business corporation may indemnify directors and officers against
liabilities they may incur as such provided that the particular person acted in good faith and in a
manner he or she reasonably believed to be in, or not opposed to, the best interests of the
corporation, and, with respect to any criminal proceeding, had no reasonable cause to believe his
or her conduct was unlawful. In general, the power to indemnify under these sections does not exist
in the case of actions against a director or officer by or in the right of the corporation if the
person otherwise entitled to indemnification shall have been adjudged to be liable to the
corporation unless it is judicially determined that, despite the adjudication of liability but in
view of all the circumstances of the case, the person is fairly and reasonably entitled to
indemnification for specified expenses. Section&nbsp;1743 of the PBCL requires a business corporation to
indemnify directors and officers against expenses they may incur in defending actions against them
in such capacities if they are successful on the merits or otherwise in the defense of such
actions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1713 of the PBCL permits the shareholders to adopt a bylaw provision relieving a
director (but not an officer) of personal liability for monetary damages except where (i)&nbsp;the
director has breached the applicable standard of care, and (ii)&nbsp;such conduct constitutes
self-dealing, willful misconduct or recklessness. This Section also provides that a director may
not be relieved of liability for the payment
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">of taxes pursuant to any federal, state or local law or of liability or responsibility under a
criminal statute. Section&nbsp;4.01 of the Registrant&#146;s bylaws limits the liability of any director of
the Registrant to the fullest extent permitted by Section&nbsp;1713 of the PBCL.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1746 of the PBCL grants a corporation broad authority to indemnify its directors,
officers and other agents for liabilities and expenses incurred in such capacity, except in
circumstances where the act or failure to act giving rise to the claim for indemnification is
determined by a court to have constituted willful misconduct or recklessness. Article&nbsp;VII of the
Registrant&#146;s bylaws provides indemnification of directors, officers and other agents of the
Registrant broader than the indemnification permitted by Section&nbsp;1741 of the PBCL and pursuant to
the authority of Section&nbsp;1746 of the PBCL.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VII of the bylaws provides, except as expressly prohibited by law, an unconditional
right to indemnification for expenses and any liability paid or incurred by any director or officer
of the Registrant, or any other person designated by the board of directors as an indemnified
representative, in connection with any actual or threatened claim, action, suit or proceeding
(including derivative suits) in which he or she may be involved by reason of being or having been a
director, officer, employee or agent of the Registrant or, at the request of the Registrant, of
another corporation, partnership, joint venture, trust, employee benefit plan or other entity. The
bylaws specifically authorize indemnification against both judgments and amounts paid in settlement
of derivative suits, unlike Section&nbsp;1742 of the PBCL which authorizes indemnification only of
expenses incurred in defending and in settlement of a derivative action. In addition, Article&nbsp;VII
of the bylaws also allows indemnification for punitive damages and liabilities incurred under the
federal securities laws.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unlike the provisions of PBCL Sections&nbsp;1741 and 1742, Article&nbsp;VII does not require the
Registrant to determine the availability of indemnification by the procedures or the standard of
conduct specified in Sections&nbsp;1741 or 1742 of the PBCL. A person who has incurred an indemnifiable
expense or liability has a right to be indemnified independent of any procedures or determinations
that would otherwise be required, and that right is enforceable against the Registrant as long as
indemnification is not prohibited by law. To the extent indemnification is permitted only for a
portion of a liability, the bylaw provisions require the Registrant to indemnify such portion. If
the indemnification provided for in Article&nbsp;VII is unavailable for any reason in respect of any
liability or portion thereof, the bylaws require the Registrant to make a contribution toward the
liability. Indemnification rights under the bylaws do not depend upon the approval of any future
board of directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.04 of the Registrant&#146;s bylaws also authorizes the Registrant to further effect or
secure its indemnification obligations by entering into indemnification agreements, maintaining
insurance, creating a trust fund, granting a security interest in its assets or property,
establishing a letter of credit, or using any other means that may be available from time to time.
Section&nbsp;1747 of the PBCL also enables a business corporation to purchase and maintain insurance on
behalf of a person who is or was serving as a representative of the corporation or is or was
serving at the request of the corporation as a representative of another entity against any
liability asserted against that representative in his capacity as such, whether or not the
corporation would have the power to indemnify him against that liability under the PBCL.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant maintains, on behalf of its directors and officers, insurance protection
against certain liabilities arising out of the discharge of their duties, as well as insurance
covering the Registrant for indemnification payments made to its directors and officers for certain
liabilities. The premiums for such insurance are paid by the Registrant.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>
<!-- link2 "Item&nbsp;8. Exhibits" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A list of exhibits filed herewith or incorporated by reference is contained in the Exhibit&nbsp;Index
immediately following the signature pages and is incorporated herein by reference.
</DIV>

<!-- link2 "Item&nbsp;9. Undertakings" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned Registrant hereby undertakes:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(1)&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by section 10(a)(3) of the Securities Act of
1933;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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 in the
Registration Statement; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provided, however, that paragraphs (1)(i) and (1)(ii) of this section shall not apply
if the information required to be included in a post-effective amendment by those clauses is
contained in periodic reports filed with or furnished to the Commission by the Registrant
pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by
reference into this Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(2)&nbsp;That, for the purpose of determining any liability under the Securities Act of
1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(3)&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.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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 Exchange Act (and, where applicable, each filing of an employee benefit
plan&#146;s annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by
reference in the Registration Statement shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at that time shall be deemed
to be the initial bona fide offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned registrant hereby undertakes to deliver or cause to be delivered with the
prospectus, to each person to whom the prospectus is sent or given, the latest annual report to
security holders that is
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">incorporated by reference in the prospectus and furnished pursuant to and meeting the requirements
of Rule&nbsp;14a-3 or Rule&nbsp;14c-3 under the Securities Exchange Act of 1934; and, where interim financial
information required to be presented by Article&nbsp;3 of Regulation&nbsp;S-X are not set forth in the
prospectus, to deliver, or cause to be delivered to each person to whom the prospectus is sent or
given, the latest quarterly report that is specifically incorporated by reference in the prospectus
to provide such interim financial information.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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
Commission such indemnification is against public policy as expressed in the Securities Act of 1933
and is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in connection with the
securities being registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Securities
Act of 1933 and will be governed by the final adjudication of such issue.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&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 Bryn Mawr, Commonwealth of Pennsylvania, on December&nbsp;10,
2008.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Aqua America, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Nicholas DeBenedictis
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Name: Nicholas DeBenedictis</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" nowrap>Title: Chairman, President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>KNOW ALL PERSONS BY THESE PRESENTS:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That the undersigned officers and directors of Aqua America, Inc., a Pennsylvania corporation,
do hereby constitute and appoint Roy H. Stahl, Chief Administrative Officer and General Counsel,
and David P. Smeltzer, Chief Financial Officer, and each of them, the lawful attorneys-in-fact and
agents with full power and authority to do any and all acts and things and to execute any and all
instruments which said attorneys and agents, and any one of them, determine may be necessary or
advisable or required to enable said corporation to comply with the Securities Act of 1933, and any
rules or regulations or requirements of the Securities and Exchange Commission in connection with
this Registration Statement. Without limiting the generality of the foregoing power and authority,
the powers granted include the power and authority to sign the names of the undersigned officers
and directors in the capacities indicated below to this Registration Statement, and to any and all
instruments or documents filed as part of or in conjunction with this Registration Statement or
amendments or supplements thereof, and each of the undersigned hereby ratifies and confirms all
that said attorneys and agents, or any one of them, shall do or cause to be done by virtue hereof.
This Power of Attorney may be signed in several counterparts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN WITNESS WHEREOF</B>, each of the undersigned has executed this Power of Attorney as of the date
indicated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed below by the following persons, in the capacities and on the dates indicated.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Title</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Date</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">/s/ Nicholas DeBenedictis
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Nicholas DeBenedictis</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chairman, President and Chief Executive<br>
Officer (Principal Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December 10, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">/s/ David P. Smeltzer
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
David P. Smeltzer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chief Financial Officer  (Principal<br>
Financial Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December 10, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">/s/ Robert A. Rubin
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Robert A. Rubin</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Vice President, Controller and Chief<br>
Accounting Officer (Principal<br>
Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December 10, 2008</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Title</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Date</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">/s/ Mary C. Carroll
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Mary C. Carroll</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December 10, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">/s/ Richard H. Glanton
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Richard H. Glanton</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December 10, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">/s/ Lon R. Greenberg
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Lon R. Greenberg</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December 10, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">/s/ William P. Hankowsky
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
William P. Hankowsky</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December 10, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">/s/ Dr. Constantine Papadakis
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Dr. Constantine Papadakis</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December 10, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">/s/ Ellen T. Ruff
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Ellen T. Ruff</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December 10, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">/s/ Richard L. Smoot
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Richard L. Smoot</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December 10, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" valign="top">/s/ Andrew J. Sordoni,III
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Andrew J. Sordoni, III</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">December 10, 2008</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "EXHIBIT INDEX" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">EXHIBIT INDEX
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
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    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Aqua America, Inc. 2009 Executive Deferral Plan</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Morgan, Lewis &#38; Bockius LLP</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of PricewaterhouseCoopers LLP</TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Morgan, Lewis &#38; Bockius LLP (included in Exhibit&nbsp;5.1 filed herewith)</TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on signature pages hereto)</TD>
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sv8
As filed with the Securities and Exchange Commission on December 10, 2008
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
AQUA AMERICA, INC.
(Exact Name of Registrant as Specified in its Charter)
Pennsylvania
23-1702594
(State or Other Jurisdiction of Incorporation or Organization)
(I.R.S. Employer Identification No.)
762 W. Lancaster Avenue
Bryn Mawr, PA 19010-3489
(Address and Zip Code of Principal Executive Offices)
AQUA AMERICA, INC. 2009 EXECUTIVE DEFERRAL PLAN
(Full Title of the Plan)
Roy H. Stahl
Chief Administrative Officer and General Counsel
Aqua America, Inc.
762 W. Lancaster Avenue
Bryn Mawr, PA 19010-3489
(610) 527-8000
(Name, Address, Zip Code and Telephone Number of Agent for Service)
Copy of all Communications to:
Brian C. Miner
Morgan, Lewis & Bockius LLP
1701 Market Street
Philadelphia, PA 19103
(215) 963-5000
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated
filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange
Act. (Check one):
Large accelerated filer
þ
Accelerated filer
o
Non-accelerated filer
o
Smaller reporting company
o
(Do not check if a smaller reporting company)
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Title of Securities to be
Amount to be
Offering Price Per
Aggregate Offering
Amount of
Registered
Registered
Share
Price (2)
Registration Fee
Deferred Compensation Obligations (1)
$
20,000,000
100
%
$
20,000,000
$
786
(1)
The deferred compensation obligations under the Aqua America, Inc. 2009 Executive Deferral Plan are unsecured general obligations of Aqua America, Inc. to pay
deferred compensation in the future in accordance with the terms of the Aqua America, Inc. 2009 Executive Deferral Plan.
(2)
Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h) under the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents previously filed with the Securities and Exchange Commission (the
"Commission") pursuant to the Securities Exchange Act of 1934 (the "Exchange Act") are incorporated
in this registration statement by reference:
(a)
Our Annual Report on Form 10-K for the fiscal year ended December 31,
2007, filed with the Commission on February 27, 2008 (including
portions of our definitive Proxy Statement for the 2008 Annual Meeting
of Shareholders incorporated therein by reference);
(b)
Our Quarterly Reports on Form 10-Q for quarters ended March 31, 2008,
June 30, 2008 and September 30, 2008, filed with the Commission on May
9, 2008, August 8, 2008 and November 7, 2008, respectively; and
(c)
Our Current Reports on Form 8-K filed with the Commission on April 24,
2008, May 29, 2008 and July 3, 2008.
In addition, all documents that we file pursuant to Section 13(a), 13(c), 14 or 15(d) of the
Exchange Act after the date of this Registration Statement and prior to the filing of a
post-effective amendment 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.
Any statement contained in a document incorporated or deemed to be incorporated by reference
herein shall be deemed to be modified or superseded for purposes of this Registration Statement to
the extent that a statement contained herein or in any subsequently filed document which also is
incorporated or deemed to be incorporated by reference herein modifies or supersedes such
statement. Any such statement so modified or superseded shall not be deemed to constitute a part
of this Registration Statement except as so modified or superceded.
EXPERTS
Our consolidated financial statements and management's assessment of the effectiveness of
internal control over financial reporting (which is included in Management's Report on Internal
Control over Financial Reporting), incorporated in this Registration Statement by reference to our
Annual Report on Form 10-K for the fiscal year ended December 31, 2007, have been so incorporated
in reliance on the reports of PricewaterhouseCoopers LLP, an independent registered public
accounting firm, given on the authority of said firm as experts in auditing and accounting.
If, and only if, PricewaterhouseCoopers LLP consents to the incorporation by reference in this
Registration Statement of its reports relating to audited financial statements and effectiveness of
internal control over financial reporting included in a document subsequently filed by the
Registrant, such audited financial statements and management's assessment of the effectiveness of
internal control over financial reporting shall be incorporated herein in reliance upon such
reports of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on
the authority of said firm as experts in auditing and accounting.
Item 4. Description of Securities.
Under the Aqua America, Inc. 2009 Executive Deferral Plan (the "Plan"), any individual
employed by the Registrant as an officer, senior manager or other highly compensated employee, on a
regular, full-time basis may participate in the Plan if designated by the Compensation Committee of
the Registrant's Board of Directors (the "Committee"). Prior to the beginning of any calendar year
or within 30 days after first becoming eligible to participate in the Plan, eligible employees may
participate in the Plan by making an irrevocable election to defer an amount equal to a whole
percentage or dollar amount of his or her base salary and/or bonus to be earned for the upcoming
calendar year. When an eligible employee elects to defer any portion of his or her base salary
and/or bonus, the Registrant will create and maintain a book account ("Account") that will be
credited with the elected contribution at the time such amount would otherwise have been paid. The
Committee may set a minimum and maximum amount that may be deferred under the Plan, and may change
the limits from time to time.
The Registrant will also credit to the Account for each calendar year an amount equal to the
excess of the contribution that would have been made by the Registrant under the Aqua America, Inc.
401(k) Plan ("401(k) Plan") on the participant's behalf as an employer's matching contribution if
it were not for the limitations imposed by the Internal Revenue Code (the "Code") over the amount
actually contributed as an employer's matching contribution by the Registrant to the 401(k) Plan on
the participant's behalf. Such credits shall be deemed to have occurred at the time such amounts
would otherwise have been contributed to the 401(k) Plan or at such other time as is specified by
the Registrant.
If an eligible employee is also a participant in the Aqua America Inc. Supplemental Executive
Retirement Plan for Nicholas DeBenedictis ("SERP") or the Aqua America Inc. Supplemental Pension
Plan for Salaried Employees ("Excess Plan"), he or she may elect in 2008 to have his or her SERP or
Excess Plan benefit credited to the participant's Account at separation from service.
The amounts credited to a participant's Account will be deemed invested in one or more
investment options, which may be individually chosen by each participant from investment
alternatives made available from time to time under the Plan. In the absence of a valid investment
election by the participant, his or her Account will be deemed to be invested in the manner
selected by the Committee. Each participant's Account will be adjusted to reflect the investment
performance of the selected investments. Gains, losses and income returns of deemed investments
will be posted to the participant's Account periodically. The investment alternatives are for
bookkeeping purposes only, and the Registrant is not obligated to invest in the investment
alternatives specified by the participants.
A participant can determine how his or her Account will be distributed, by establishing in
advance up to five separation distribution Accounts and up to five flexible distribution Accounts
under the Plan. Pursuant to the participant's election, when the participant separates from
employment, his or her separation distribution Accounts under the Plan will be distributed in a
lump sum payment at specified dates or in annual installments, as elected by the participant (with
deemed investment gains or losses continuing to be posted to the participant's Account for each
subsequent calendar year). If the aggregate value of a participant's separation distribution
Accounts is less than $25,000 at separation from employment, the participant's separation
distribution Accounts will be distributed in a lump sum payment. Also, if the participant's
separation from employment is before the participant attains age 55, the participant's separation
distribution Accounts will be distributed in a lump sum payment. Pursuant to a participant's
election, his or her flexible distribution Accounts will be distributed on the dates specified by
the participant in accordance with the terms of the Plan. If the participant is a key employee
under section 409A of the Code, his or her Accounts that are payable upon separation from
employment, may not be distributed earlier than the first day of the seventh month following the
date of the participant's separation from employment.
The Registrant's obligations to pay the deferred compensation (as adjusted for deemed gains,
losses and investment returns) in the future in accordance with the terms of the Plan ("Deferred
Compensation Obligations") will constitute unsecured general obligations of the Registrant, payable
solely out of the Registrant's general assets. The Registrant's Board of Directors may, but is not
required to, authorize the establishment of a "rabbi" trust with respect to the Plan. In any
event, participants in the Plan will have no right to any of the Registrant's specific assets or,
if applicable, any trust assets. It is the Registrant's intention that the Plan be unfunded for tax
purposes and for purposes of Title I of the Employee Retirement Income Security Act of 1974, as
amended.
The Deferred Compensation Obligations are not convertible into any other security of the
Registrant. The Deferred Compensation Obligations will not have the benefit of a negative pledge
or any other affirmative covenant on the part of the Registrant. No trustee has been appointed
having the authority to take action with respect to the Deferred Compensation Obligations and each
participant will be responsible for acting independently with respect to, among other things, the
giving of notices, responding to any requests for consents, waivers or amendments pertaining to the
Deferred Compensation Obligations, enforcing covenants and taking action upon a default.
A participant's rights under the Plan (including its rights to payment of the Deferred
Compensation Obligations) cannot be assigned, transferred, pledged or encumbered.
The Registrant has the right to amend or terminate the Plan at any time without prior notice
to or consent of any person. However, no such amendment or terminations shall have the effect of
divesting a participant of the benefit which the participant would otherwise receive under the Plan
at the time of such amendment or termination.
Item 5. Interests of Named Experts and Counsel.
Not
applicable.
Item 6. Indemnification of Directors and Officers.
The Registrant is a Pennsylvania corporation. Sections 1741 and 1742 of the Pennsylvania
Business Corporation Law of 1988, as amended (the "PBCL"), provide that, unless otherwise
restricted in its bylaws, a business corporation may indemnify directors and officers against
liabilities they may incur as such provided that the particular person acted in good faith and in a
manner he or she reasonably believed to be in, or not opposed to, the best interests of the
corporation, and, with respect to any criminal proceeding, had no reasonable cause to believe his
or her conduct was unlawful. In general, the power to indemnify under these sections does not exist
in the case of actions against a director or officer by or in the right of the corporation if the
person otherwise entitled to indemnification shall have been adjudged to be liable to the
corporation unless it is judicially determined that, despite the adjudication of liability but in
view of all the circumstances of the case, the person is fairly and reasonably entitled to
indemnification for specified expenses. Section 1743 of the PBCL requires a business corporation to
indemnify directors and officers against expenses they may incur in defending actions against them
in such capacities if they are successful on the merits or otherwise in the defense of such
actions.
Section 1713 of the PBCL permits the shareholders to adopt a bylaw provision relieving a
director (but not an officer) of personal liability for monetary damages except where (i) the
director has breached the applicable standard of care, and (ii) such conduct constitutes
self-dealing, willful misconduct or recklessness. This Section also provides that a director may
not be relieved of liability for the payment
of taxes pursuant to any federal, state or local law or of liability or responsibility under a
criminal statute. Section 4.01 of the Registrant's bylaws limits the liability of any director of
the Registrant to the fullest extent permitted by Section 1713 of the PBCL.
Section 1746 of the PBCL grants a corporation broad authority to indemnify its directors,
officers and other agents for liabilities and expenses incurred in such capacity, except in
circumstances where the act or failure to act giving rise to the claim for indemnification is
determined by a court to have constituted willful misconduct or recklessness. Article VII of the
Registrant's bylaws provides indemnification of directors, officers and other agents of the
Registrant broader than the indemnification permitted by Section 1741 of the PBCL and pursuant to
the authority of Section 1746 of the PBCL.
Article VII of the bylaws provides, except as expressly prohibited by law, an unconditional
right to indemnification for expenses and any liability paid or incurred by any director or officer
of the Registrant, or any other person designated by the board of directors as an indemnified
representative, in connection with any actual or threatened claim, action, suit or proceeding
(including derivative suits) in which he or she may be involved by reason of being or having been a
director, officer, employee or agent of the Registrant or, at the request of the Registrant, of
another corporation, partnership, joint venture, trust, employee benefit plan or other entity. The
bylaws specifically authorize indemnification against both judgments and amounts paid in settlement
of derivative suits, unlike Section 1742 of the PBCL which authorizes indemnification only of
expenses incurred in defending and in settlement of a derivative action. In addition, Article VII
of the bylaws also allows indemnification for punitive damages and liabilities incurred under the
federal securities laws.
Unlike the provisions of PBCL Sections 1741 and 1742, Article VII does not require the
Registrant to determine the availability of indemnification by the procedures or the standard of
conduct specified in Sections 1741 or 1742 of the PBCL. A person who has incurred an indemnifiable
expense or liability has a right to be indemnified independent of any procedures or determinations
that would otherwise be required, and that right is enforceable against the Registrant as long as
indemnification is not prohibited by law. To the extent indemnification is permitted only for a
portion of a liability, the bylaw provisions require the Registrant to indemnify such portion. If
the indemnification provided for in Article VII is unavailable for any reason in respect of any
liability or portion thereof, the bylaws require the Registrant to make a contribution toward the
liability. Indemnification rights under the bylaws do not depend upon the approval of any future
board of directors.
Section 7.04 of the Registrant's bylaws also authorizes the Registrant to further effect or
secure its indemnification obligations by entering into indemnification agreements, maintaining
insurance, creating a trust fund, granting a security interest in its assets or property,
establishing a letter of credit, or using any other means that may be available from time to time.
Section 1747 of the PBCL also enables a business corporation to purchase and maintain insurance on
behalf of a person who is or was serving as a representative of the corporation or is or was
serving at the request of the corporation as a representative of another entity against any
liability asserted against that representative in his capacity as such, whether or not the
corporation would have the power to indemnify him against that liability under the PBCL.
The Registrant maintains, on behalf of its directors and officers, insurance protection
against certain liabilities arising out of the discharge of their duties, as well as insurance
covering the Registrant for indemnification payments made to its directors and officers for certain
liabilities. The premiums for such insurance are paid by the Registrant.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
A list of exhibits filed herewith or incorporated by reference is contained in the Exhibit Index
immediately following the signature pages and is incorporated herein by reference.
Item 9. Undertakings.
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 in the
Registration Statement; and
(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 (1)(i) and (1)(ii) of this section shall not apply
if the information required to be included in a post-effective amendment by those clauses is
contained in periodic reports filed with or furnished to the Commission by the Registrant
pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by
reference into this Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act of
1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered 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 which remain unsold at the termination of the offering.
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 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 the Registration Statement shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at that time shall be deemed
to be the initial bona fide offering thereof.
The undersigned registrant hereby undertakes to deliver or cause to be delivered with the
prospectus, to each person to whom the prospectus is sent or given, the latest annual report to
security holders that is
incorporated by reference in the prospectus and furnished pursuant to and meeting the requirements
of Rule 14a-3 or Rule 14c-3 under the Securities Exchange Act of 1934; and, where interim financial
information required to be presented by Article 3 of Regulation S-X are not set forth in the
prospectus, to deliver, or cause to be delivered to each person to whom the prospectus is sent or
given, the latest quarterly report that is specifically incorporated by reference in the prospectus
to provide such interim financial information.
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
Commission such indemnification is against public policy as expressed in the Securities Act of 1933
and is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in connection with the
securities being registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Securities
Act of 1933 and will be governed by the final adjudication of such issue.
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 Bryn Mawr, Commonwealth of Pennsylvania, on December 10,
2008.
Aqua America, Inc.
By:
/s/ Nicholas DeBenedictis
Name: Nicholas DeBenedictis
Title: Chairman, President and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS:
That the undersigned officers and directors of Aqua America, Inc., a Pennsylvania corporation,
do hereby constitute and appoint Roy H. Stahl, Chief Administrative Officer and General Counsel,
and David P. Smeltzer, Chief Financial Officer, and each of them, the lawful attorneys-in-fact and
agents with full power and authority to do any and all acts and things and to execute any and all
instruments which said attorneys and agents, and any one of them, determine may be necessary or
advisable or required to enable said corporation to comply with the Securities Act of 1933, and any
rules or regulations or requirements of the Securities and Exchange Commission in connection with
this Registration Statement. Without limiting the generality of the foregoing power and authority,
the powers granted include the power and authority to sign the names of the undersigned officers
and directors in the capacities indicated below to this Registration Statement, and to any and all
instruments or documents filed as part of or in conjunction with this Registration Statement or
amendments or supplements thereof, and each of the undersigned hereby ratifies and confirms all
that said attorneys and agents, or any one of them, shall do or cause to be done by virtue hereof.
This Power of Attorney may be signed in several counterparts.
IN WITNESS WHEREOF
, each of the undersigned has executed this Power of Attorney as of the date
indicated.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed below by the following persons, in the capacities and on the dates indicated.
Signature
Title
Date
/s/ Nicholas DeBenedictis
Nicholas DeBenedictis
Chairman, President and Chief Executive
Officer (Principal Executive Officer)
December 10, 2008
/s/ David P. Smeltzer
David P. Smeltzer
Chief Financial Officer  (Principal
Financial Officer)
December 10, 2008
/s/ Robert A. Rubin
Robert A. Rubin
Vice President, Controller and Chief
Accounting Officer (Principal
Accounting Officer)
December 10, 2008
Signature
Title
Date
/s/ Mary C. Carroll
Mary C. Carroll
Director
December 10, 2008
/s/ Richard H. Glanton
Richard H. Glanton
Director
December 10, 2008
/s/ Lon R. Greenberg
Lon R. Greenberg
Director
December 10, 2008
/s/ William P. Hankowsky
William P. Hankowsky
Director
December 10, 2008
/s/ Dr. Constantine Papadakis
Dr. Constantine Papadakis
Director
December 10, 2008
/s/ Ellen T. Ruff
Ellen T. Ruff
Director
December 10, 2008
/s/ Richard L. Smoot
Richard L. Smoot
Director
December 10, 2008
/s/ Andrew J. Sordoni,III
Andrew J. Sordoni, III
Director
December 10, 2008
EXHIBIT INDEX
Exhibit No.
Description
4.1
Aqua America, Inc. 2009 Executive Deferral Plan
5.1
Opinion of Morgan, Lewis & Bockius LLP
23.1
Consent of PricewaterhouseCoopers LLP
23.2
Consent of Morgan, Lewis & Bockius LLP (included in Exhibit 5.1 filed herewith)
24.1
Power of Attorney (included on signature pages hereto)