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<TITLE>S-8</TITLE>
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<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">As filed
with the Securities and Exchange Commission on December&nbsp;21, 2007&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registration No.&nbsp;333-
</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"><DIV style="font-size: 3pt; margin-top: 16pt; width: 15%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

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


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 15%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

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


<DIV align="center" style="font-size: 10pt; margin-top: 0pt">(Exact name of registrant as specified in its charter)
</DIV>

<DIV align="center">
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<TR style="font-size: 12pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>13-3971809</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction of <BR>
Incorporation or Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification Number)</TD>
</TR>
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</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>3960 Broadway<BR>
New York, New York 10032</B><BR>
(Address of Principal Executive Offices)
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 10pt; width: 15%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>NEPHROS, INC.<BR>
2004 STOCK INCENTIVE PLAN</B><BR>
(Full Title of the Plan)
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 10pt; width: 15%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Norman J. Barta<BR>
President, Chief Executive Officer and Chairman<BR>
Nephros, Inc.<BR>
3960 Broadway<BR>
New York, New York 10032</B><BR>
(Name and Address of Agent for Service)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(212)&nbsp;781-5113</B><BR>
(Telephone Number, Including Area Code,<BR>
of Agent for Service)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Copies to:</B><BR>
Thomas D. Balliett, Esq.<BR>
Kramer Levin Naftalis &#038; Frankel LLP<BR>
1177 Avenue of the Americas<BR>
New York, New York 10036<BR>
(212)&nbsp;715-9100
</DIV>


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

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="41%">&nbsp;</TD>
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    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
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    <TD width="2%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

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

    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Title of Each Class of Securities to be Registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 0px solid #000000"><B>Registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 0px solid #000000"><B>Share</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 0px solid #000000"><B>Price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 0px solid #000000"><B>Fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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    <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">Common Stock (par
value $0.001 per
share)</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="center" valign="bottom" style="border-top: 2px solid #000000">278,109<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></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="center" valign="bottom" style="border-top: 2px solid #000000">$0.55<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></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="center" valign="bottom" style="border-top: 2px solid #000000">$152,959.95<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></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="center" valign="bottom" style="border-top: 2px solid #000000">$4.70</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>





<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">Common Stock (par
value $0.001 per
share)</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="center" valign="bottom" style="border-top: 2px solid #000000">171,891<SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></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="center" valign="bottom" style="border-top: 2px solid #000000">$1.05<SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></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="center" valign="bottom" style="border-top: 2px solid #000000">$180,485.55<SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></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="center" valign="bottom" style="border-top: 2px solid #000000">$5.54</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<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">Common Stock (par
value $0.001 per
share)</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="center" valign="bottom" style="border-top: 2px solid #000000">50,000<SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></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="center" valign="bottom" style="border-top: 2px solid #000000">$0.80<SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></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="center" valign="bottom" style="border-top: 2px solid #000000">$40,000.00<SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></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="center" valign="bottom" style="border-top: 2px solid #000000">$1.23</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<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">TOTAL</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="center" valign="bottom" style="border-top: 2px solid #000000">500,000</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="center" valign="bottom" 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="center" valign="bottom" style="border-top: 2px solid #000000">$373,445.50</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="center" valign="bottom" style="border-top: 2px solid #000000">$11.46</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>











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    <TD nowrap align="left" colspan="15" style="border-top: 3px double #000000">&nbsp;</TD>
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<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>Represents the aggregate of 278,109 shares that may be issued
pursuant to awards that may be granted under the Nephros, Inc. 2004
Stock Incentive Plan (the &#147;2004 Plan&#148;).</TD>
</TR>
<TR>
    <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 registration
fee pursuant to Rule&nbsp;457(c) and Rule&nbsp;457(h)(1) under the Securities Act
of 1933, as amended (the &#147;Securities Act&#148;), based on the average of the
high and low prices reported by the American Stock Exchange on
December&nbsp;19, 2007, which is within five (5)&nbsp;business days prior to the date of
this Registration Statement.</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents shares that may be issued upon the exercise of stock
options that have been issued under the 2004 Plan.</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Pursuant to Rule&nbsp;457(h)(1), the Proposed Maximum Offering Price Per
Share and the Proposed Maximum Aggregate Offering Price have been
calculated based on the exercise prices of options previously granted.</TD>
</TR>




</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">NEPHROS, INC.<BR>
REGISTRATION STATEMENT ON FORM S-8
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">REGISTRATION OF ADDITIONAL SECURITIES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Registration Statement is filed in accordance with the provisions of General Instruction
E to Form S-8 for the purpose of registering 500,000 shares of common stock, par value $0.001 per
share, of the Registrant, reserved for offer and sale under the Nephros, Inc. 2004 Stock Incentive
Plan. The contents of the Registrant&#146;s Registration Statement on Form S-8 as filed with the
Commission on August&nbsp;5, 2005 (File No.&nbsp;333-127264) are incorporated herein by reference.
</DIV>

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


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
</DIV>


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

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="9%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><U>Exhibit Number</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><U>Description</U></TD>
</TR>

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


<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fourth Amended and  Restated
Certificate of Incorporation of the Registrant (Incorporated by
reference to Nephros, Inc.&#146;s Registration Statement on Form S-8 (No.
333-127264), as filed with the SEC on August 5, 2005).</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>
</TR>
<TR valign="bottom">




<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit&nbsp;3.2 of Nephros, Inc.&#146;s Quarterly Report
on Form&nbsp;10-QSB for the quarter ended June&nbsp;30, 2007, filed with the SEC on August&nbsp;13, 2007).</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>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit&nbsp;3.3 of Nephros, Inc.&#146;s Quarterly Report
on Form&nbsp;10-QSB for the quarter ended June&nbsp;30, 2007 filed with the SEC on August&nbsp;13, 2007).</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>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit&nbsp;3.4 of Nephros, Inc&#146;s Quarterly Report on
Form&nbsp;10-QSB for the quarter ended September&nbsp;30, 2007 filed with the SEC on November&nbsp;13, 2007).</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>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment No.&nbsp;2 to the Registrant&#146;s 2004 Stock Incentive Plan (Incorporated by reference to
Exhibit&nbsp;10.7 of Nephros, Inc.&#146;s Quarterly Report on Form&nbsp;10-QSB for the quarter ended
September&nbsp;30, 2007 filed with the SEC on November&nbsp;13, 2007).</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>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amended and Restated By-laws of Nephros, Inc. (Incorporated by reference to Exhibit
3.1 of Nephros, Inc.&#146;s Current Report on Form&nbsp;8-K filed with the SEC on December&nbsp;3, 2007).</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>
</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 Kramer Levin Naftalis &#038; Frankel LLP.</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>
</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 Independent Accountants.</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>
</TR>
<TR valign="bottom">
    <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 Kramer Levin Naftalis &#038; Frankel LLP (included in Exhibit&nbsp;5.1 above).</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on the signature page of this Registration Statement).</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /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="center" style="font-size: 10pt; margin-top: 18pt">SIGNATURES
</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 New York, State of New
York, on this
21<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> day
of December, 2007.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">NEPHROS, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Norman J. Barta
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Norman J. Barta&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">President, Chief Executive Officer and
Chairman of the Board&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">KNOW ALL PERSONS BY THESE PRESENTS, that the persons whose signatures appear below each severally
constitutes and appoints Norman J. Barta his true and lawful attorney-in-fact and agent, with full
powers of substitution and resubstitution, for him and in his name, place and stead, in any and all
capacities, to sign any and all amendments (including pre-effective and post-effective amendments)
to this registration statement, and to file the same, with all exhibits, and other documents in
connection therewith, with the Securities and Exchange Commission, granting unto said
attorney-in-fact and agent, full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises, as fully to all intents and purposes
as he might or could do in person, hereby ratifying and confirming all which said attorney-in-fact
and agent, or his substitute, may lawfully do, or cause to be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been
signed by the following persons on December&nbsp;21, 2007 in the capacities 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="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><U>Signature</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 0px solid #000000"><U>Title(s)</U></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Norman J. Barta
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Norman J. Barta
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President, Chief Executive Officer
and Chairman of the Board</TD>
</TR>
<TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Mark W. Lerner
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Mark W. Lerner
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer and
Principal Accounting Officer</TD>
</TR>
<TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Arthur H. Amron
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR style="font-size: 10pt">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">
Arthur H. Amron</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Lawrence J. Centella
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR style="font-size: 10pt">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">
Lawrence J. Centella</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Paul A. Mieyal
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR style="font-size: 10pt">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">
Paul A. Mieyal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Eric A. Rose, M.D.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR style="font-size: 10pt">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">
Eric A. Rose, M.D.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 6pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ James S. Scibetta
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR style="font-size: 10pt">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">
James S. Scibetta</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

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

<!-- PAGEBREAK -->
<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" 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">
    <TD width="9%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><U>Exhibit Number</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 0px solid #000000"><U>Description</U></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
<TR valign="bottom">



<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fourth Amended and Restated
Certificate of Incorporation of the Registrant (Incorporated by
reference to Nephros, Inc.&#146;s Registration Statement on Form S-8 (No.
333-127264), as filed with the SEC on August 5, 2005).</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>
</TR>
<TR valign="bottom">






<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit&nbsp;3.2 of Nephros, Inc.&#146;s Quarterly Report
on Form&nbsp;10-QSB for the quarter ended June&nbsp;30, 2007, filed with the SEC on August&nbsp;13, 2007).</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>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit&nbsp;3.3 of Nephros, Inc.&#146;s Quarterly Report
on Form&nbsp;10-QSB for the quarter ended June&nbsp;30, 2007 filed with the SEC on August&nbsp;13, 2007).</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>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit&nbsp;3.4 of Nephros, Inc&#146;s Quarterly Report on
Form&nbsp;10-QSB for the quarter ended September&nbsp;30, 2007 filed with the SEC on November&nbsp;13, 2007).</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>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment No.&nbsp;2 to the Registrant&#146;s 2004 Stock Incentive Plan (Incorporated by reference to
Exhibit&nbsp;10.7 of Nephros, Inc.&#146;s Quarterly Report on Form&nbsp;10-QSB for the quarter ended
September&nbsp;30, 2007 filed with the SEC on November&nbsp;13, 2007).</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>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Second Amended and Restated By-laws of Nephros, Inc. (Incorporated by reference to Exhibit
3.1 of Nephros, Inc.&#146;s Current Report on Form&nbsp;8-K filed with the SEC on December&nbsp;3, 2007).</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>
</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 Kramer Levin Naftalis &#038; Frankel LLP.</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>
</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 Independent Accountants.</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>
</TR>
<TR valign="bottom">
    <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 Kramer Levin Naftalis
&#038; Frankel LLP (included in Exhibit&nbsp;5.1 above).</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on the signature page of this Registration Statement).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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




</BODY>
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S-8
As filed
with the Securities and Exchange Commission on December 21, 2007               Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
NEPHROS, INC.
(Exact name of registrant as specified in its charter)
Delaware
13-3971809
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer Identification Number)
3960 Broadway
New York, New York 10032
(Address of Principal Executive Offices)
NEPHROS, INC.
2004 STOCK INCENTIVE PLAN
(Full Title of the Plan)
Norman J. Barta
President, Chief Executive Officer and Chairman
Nephros, Inc.
3960 Broadway
New York, New York 10032
(Name and Address of Agent for Service)
(212) 781-5113
(Telephone Number, Including Area Code,
of Agent for Service)
Copies to:
Thomas D. Balliett, Esq.
Kramer Levin Naftalis & Frankel LLP
1177 Avenue of the Americas
New York, New York 10036
(212) 715-9100
CALCULATION OF REGISTRATION FEE
Amount
Proposed Maximum
Proposed Maximum
Amount of
to be
Offering Price Per
Aggregate Offering
Registration
Title of Each Class of Securities to be Registered
Registered
Share
Price
Fee
Common Stock (par
value $0.001 per
share)
278,109
(1)
$0.55
(2)
$152,959.95
(2)
$4.70
Common Stock (par
value $0.001 per
share)
171,891
(3)
$1.05
(4)
$180,485.55
(4)
$5.54
Common Stock (par
value $0.001 per
share)
50,000
(3)
$0.80
(4)
$40,000.00
(4)
$1.23
TOTAL
500,000
$373,445.50
$11.46
(1)
Represents the aggregate of 278,109 shares that may be issued
pursuant to awards that may be granted under the Nephros, Inc. 2004
Stock Incentive Plan (the "2004 Plan").
(2)
Estimated solely for the purpose of calculating the registration
fee pursuant to Rule 457(c) and Rule 457(h)(1) under the Securities Act
of 1933, as amended (the "Securities Act"), based on the average of the
high and low prices reported by the American Stock Exchange on
December 19, 2007, which is within five (5) business days prior to the date of
this Registration Statement.
(3)
Represents shares that may be issued upon the exercise of stock
options that have been issued under the 2004 Plan.
(4)
Pursuant to Rule 457(h)(1), the Proposed Maximum Offering Price Per
Share and the Proposed Maximum Aggregate Offering Price have been
calculated based on the exercise prices of options previously granted.
NEPHROS, INC.
REGISTRATION STATEMENT ON FORM S-8
REGISTRATION OF ADDITIONAL SECURITIES
This Registration Statement is filed in accordance with the provisions of General Instruction
E to Form S-8 for the purpose of registering 500,000 shares of common stock, par value $0.001 per
share, of the Registrant, reserved for offer and sale under the Nephros, Inc. 2004 Stock Incentive
Plan. The contents of the Registrant's Registration Statement on Form S-8 as filed with the
Commission on August 5, 2005 (File No. 333-127264) are incorporated herein by reference.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 8.
Exhibits.
Exhibit Number
Description
4.1
Fourth Amended and  Restated
Certificate of Incorporation of the Registrant (Incorporated by
reference to Nephros, Inc.'s Registration Statement on Form S-8 (No.
333-127264), as filed with the SEC on August 5, 2005).
4.2
Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit 3.2 of Nephros, Inc.'s Quarterly Report
on Form 10-QSB for the quarter ended June 30, 2007, filed with the SEC on August 13, 2007).
4.3
Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit 3.3 of Nephros, Inc.'s Quarterly Report
on Form 10-QSB for the quarter ended June 30, 2007 filed with the SEC on August 13, 2007).
4.4
Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit 3.4 of Nephros, Inc's Quarterly Report on
Form 10-QSB for the quarter ended September 30, 2007 filed with the SEC on November 13, 2007).
4.5
Amendment No. 2 to the Registrant's 2004 Stock Incentive Plan (Incorporated by reference to
Exhibit 10.7 of Nephros, Inc.'s Quarterly Report on Form 10-QSB for the quarter ended
September 30, 2007 filed with the SEC on November 13, 2007).
4.6
Second Amended and Restated By-laws of Nephros, Inc. (Incorporated by reference to Exhibit
3.1 of Nephros, Inc.'s Current Report on Form 8-K filed with the SEC on December 3, 2007).
5.1
Opinion of Kramer Levin Naftalis & Frankel LLP.
23.1
Consent of Independent Accountants.
23.2
Consent of Kramer Levin Naftalis & Frankel LLP (included in Exhibit 5.1 above).
24.1
Power of Attorney (included on the signature page of this Registration Statement).
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 New York, State of New
York, on this
21
st
day
of December, 2007.
NEPHROS, INC.
By:
/s/ Norman J. Barta
Name:
Norman J. Barta
Title:
President, Chief Executive Officer and
Chairman of the Board
POWER OF ATTORNEY AND SIGNATURES
KNOW ALL PERSONS BY THESE PRESENTS, that the persons whose signatures appear below each severally
constitutes and appoints Norman J. Barta his true and lawful attorney-in-fact and agent, with full
powers of substitution and resubstitution, for him and in his name, place and stead, in any and all
capacities, to sign any and all amendments (including pre-effective and post-effective amendments)
to this registration statement, and to file the same, with all exhibits, and other documents in
connection therewith, with the Securities and Exchange Commission, granting unto said
attorney-in-fact and agent, full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises, as fully to all intents and purposes
as he might or could do in person, hereby ratifying and confirming all which said attorney-in-fact
and agent, or his substitute, may lawfully do, or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been
signed by the following persons on December 21, 2007 in the capacities indicated.
Signature
Title(s)
/s/ Norman J. Barta
Norman J. Barta
President, Chief Executive Officer
and Chairman of the Board
/s/ Mark W. Lerner
Mark W. Lerner
Chief Financial Officer and
Principal Accounting Officer
/s/ Arthur H. Amron
Director
Arthur H. Amron
/s/ Lawrence J. Centella
Director
Lawrence J. Centella
/s/ Paul A. Mieyal
Director
Paul A. Mieyal
/s/ Eric A. Rose, M.D.
Director
Eric A. Rose, M.D.
/s/ James S. Scibetta
Director
James S. Scibetta
EXHIBIT INDEX
Exhibit Number
Description
4.1
Fourth Amended and Restated
Certificate of Incorporation of the Registrant (Incorporated by
reference to Nephros, Inc.'s Registration Statement on Form S-8 (No.
333-127264), as filed with the SEC on August 5, 2005).
4.2
Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit 3.2 of Nephros, Inc.'s Quarterly Report
on Form 10-QSB for the quarter ended June 30, 2007, filed with the SEC on August 13, 2007).
4.3
Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit 3.3 of Nephros, Inc.'s Quarterly Report
on Form 10-QSB for the quarter ended June 30, 2007 filed with the SEC on August 13, 2007).
4.4
Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of
the Registrant (Incorporated by reference to Exhibit 3.4 of Nephros, Inc's Quarterly Report on
Form 10-QSB for the quarter ended September 30, 2007 filed with the SEC on November 13, 2007).
4.5
Amendment No. 2 to the Registrant's 2004 Stock Incentive Plan (Incorporated by reference to
Exhibit 10.7 of Nephros, Inc.'s Quarterly Report on Form 10-QSB for the quarter ended
September 30, 2007 filed with the SEC on November 13, 2007).
4.6
Second Amended and Restated By-laws of Nephros, Inc. (Incorporated by reference to Exhibit
3.1 of Nephros, Inc.'s Current Report on Form 8-K filed with the SEC on December 3, 2007).
5.1
Opinion of Kramer Levin Naftalis & Frankel LLP.
23.1
Consent of Independent Accountants.
23.2
Consent of Kramer Levin Naftalis
& Frankel LLP (included in Exhibit 5.1 above).
24.1
Power of Attorney (included on the signature page of this Registration Statement).