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<TITLE>Form S-8</TITLE>
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<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>As filed with the Securities and Exchange Commission on December&nbsp;17, 2010</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Registration Statement No.&nbsp;333-&nbsp;&nbsp;</B>
</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: 10pt"><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: 18pt; margin-top: 10pt"><B>FORM S-8</B>
</DIV>


<DIV align="Center" style="font-size: 12pt; margin-top: 10pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>
<DIV align="center" style="font-size: 24pt; margin-top: 10pt"><B>SAFEGUARD SCIENTIFICS, 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%">
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    <TD width="47%">&nbsp;</TD>
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    <TD align="center" valign="top"><B>Pennsylvania</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>23-1609753</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>435 Devon Park Drive, Building 800, Wayne, PA 19087-1945</B><BR>
(Address of principal executive offices, including zip code)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>2004 Equity Compensation Plan</B><BR>
(Full title of the plan)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Brian J. Sisko<BR>
Senior Vice President and General Counsel<BR>
Safeguard Scientifics, Inc.<BR>
435 Devon Park Drive, Building 800<BR>
Wayne, PA 19087-1945</B><BR>
(Name and Address of Agent for Service)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>(610)&nbsp;293-0600</B><BR>
(Telephone Number of Agent for Service)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">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 definition 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%">
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<TR valign="bottom">
    <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>
<TR></TR>
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<TR valign="bottom">
    <TD align="center" valign="top">Large accelerated filer <FONT style="font-family: Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Accelerated filer <FONT style="font-family: Wingdings">&#254;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Non-accelerated filer <FONT style="font-family: Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="white-space: nowrap">Smaller reporting company <FONT style="font-family: Wingdings">&#111;</FONT></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"><FONT style="white-space: nowrap">(Do not check if a smaller reporting company)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><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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<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="6%">&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: 10pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount to</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Maximum</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Maximum</B></TD>
    <TD style="border-right: 1px 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: 10pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left"><B>Title of Each Class of Securities</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Be</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Offering Price</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Aggregate</B></TD>
    <TD style="border-right: 1px 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: 10pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left"><B>to Be Registered</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Registered</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Per Share</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Offering Price</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Fee</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, $.10 per share</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">1,166,666</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">$15.68</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">$18,293,323</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">$1,305</TD>
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: left">Pursuant to Rule&nbsp;416 under the Securities Act of 1933, this registration statement also
registers such additional shares as may hereinafter be offered or issued to prevent dilution
resulting from stock splits, stock dividends, recapitalizations or certain other capital
adjustments.</DIV></TD>
</TR>

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

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: left">Estimated pursuant to Rule 457(c) and 457(h) under the Securities Act of 1933 solely for
purposes of calculating the registration fee. The fee is computed based upon $15.68, the
average of the high and low prices for a share of common stock of the Registrant on December
14, 2010, as reported on the New York Stock Exchange.</DIV></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">&nbsp;

<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; margin-left: .25in; width: 7.50in">

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


<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The documents containing the information specified in this Part&nbsp;I of Form S-8 will be sent or
given to participants in the Safeguard Scientifics, Inc. 2004 Equity Compensation Plan, or the
&#147;Plan,&#148; covered by this Registration Statement as specified by Rule&nbsp;428(b)(1) promulgated under the
Securities Act. Such documents need not be filed with the Securities and Exchange Commission, or
the &#147;Commission,&#148; either as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule&nbsp;424 promulgated under the Securities Act. These documents and the
documents incorporated by reference in this Registration Statement pursuant to Item&nbsp;3 of Part&nbsp;II of
this Form S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a)
of the Securities Act.
</DIV>

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


<DIV align="left" style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;3.</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: left"><U><B>Incorporation of Documents by Reference</B></U>.</DIV></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The following documents, as filed by Safeguard Scientifics, Inc. (the &#147;Registrant&#148;), with the
Securities and Exchange Commission (the &#147;Commission&#148;) are incorporated by reference in this
registration statement:
</DIV>


<DIV style="margin-top: 10pt">
<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">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: left">The Registrant&#146;s Annual Report on Form 10-K for the fiscal year ended December
31, 2009.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<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">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: left">The Registrant&#146;s Quarterly Reports on Form 10-Q for the quarterly periods
ended March&nbsp;31, 2010, June&nbsp;30, 2010 and September&nbsp;30, 2010.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<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">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: left">The Registrant&#146;s Current Reports on Form 8-K filed with the Commission March
11, 2010, March&nbsp;30, 2010, May&nbsp;14, 2010, October&nbsp;22, 2010 and November&nbsp;8, 2010.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<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">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: left">The description of the common stock contained on Forms 8-A as have been filed
with the SEC and amended from time to time.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">All documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the
Exchange Act after the date of this registration statement and prior to the filing of a
post-effective amendment that indicates that all securities offered hereby have been sold or that
deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
in this registration statement and to be a part hereof from the date of filing of each such
document.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">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 hereof to the extent that a statement
contained herein (or in any other subsequently filed document that also is, or is deemed to be,
incorporated by reference herein) modifies or supersedes such statement. Any statement contained
in a document that is deemed to be incorporated by reference or deemed to be a part hereof after
the most recent effective date may modify or replace existing statements contained herein. Any
such statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><U>Expert</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The consolidated financial statements
of Safeguard Scientifics, Inc. and subsidiaries as of December&nbsp;31, 2009
and 2008, and for each of the years in the three-year period ended
December&nbsp;31, 2009, and management&#8217;s assessment of the effectiveness
of internal control over financial reporting as of December&nbsp;31, 2009, have
been incorporated by reference herein in
reliance upon the reports of KPMG LLP, independent registered public accounting
firm, incorporated by reference herein, and upon the authority of said firm as
experts in accounting and auditing.
</DIV>

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

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

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">



<DIV align="left" style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;4.</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><B>Description of Securities</B></U>.</DIV></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Not Applicable.
</DIV>


<DIV align="left" style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;5.</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><B>Interests of Named Experts and Counsel</B></U>.</DIV></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Not Applicable
</DIV>


<DIV align="left" style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;6.</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><B>Indemnification of Directors and Officers</B></U>.</DIV></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Chapter&nbsp;17, Subchapter D of the Pennsylvania Business Corporation Law of 1988, as amended (the
&#147;PBCL&#148;), contains provisions permitting indemnification of officers and directors of a business
corporation incorporated in Pennsylvania. Sections&nbsp;1741 and 1742 of the PBCL provide that a
business corporation may indemnify directors and officers against liabilities and expenses they may
incur as such in connection with any threatened, pending or completed civil, administrative or
investigative proceeding, 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 provides that the corporation is required 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: 10pt">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 of taxes pursuant to any federal, state or local law or of responsibility
under a criminal statute.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Section&nbsp;1746 of the PBCL provides that the indemnification provisions above are not exclusive of
the right to which a person seeking indemnification may be entitled under any bylaw, agreement,
vote of shareholders or disinterested directors or otherwise, 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.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Section&nbsp;1747 of the PBCL permits a corporation to purchase and maintain insurance on behalf of any
person who is or was a director or officer of the corporation, or is or was serving at the request
of the corporation as a representative of another corporation or other enterprise, against any
liability asserted against such person and incurred by him or her in any such capacity, or arising
out of his or her status as such, whether or not the corporation would have the power to indemnify
the person against such liability under Chapter&nbsp;17, Subchapter D of the PBCL.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Article&nbsp;IX of the Registrant&#146;s Second Amended and Restated Articles of Incorporation (the
&#147;Articles&#148;), provide that a director or officer of the Registrant shall not be personally liable
for monetary damages as such (including, without limitation, any judgment, amount paid in
settlement, penalty, punitive damages or expense of any nature (including, without limitation,
attorneys&#146; fees and disbursements) for any action taken, or any failure to take any action, unless
the director or officer has breached or failed to perform the duties of his or her office under the
Articles or the Amended and Restated Bylaws (the &#147;Bylaws&#148;), of the Registrant or applicable
provisions of law and the breach or failure to perform constitutes self-dealing, willful misconduct
or recklessness.
</DIV>

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

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

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">




<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Section&nbsp;12 of Article&nbsp;III of the Registrant&#146;s Bylaws also limits the personal liability of
directors for monetary damages for any action taken, or any failure to take any action, unless the
director has breached or failed to perform the duties of his or her office. The limitation on
monetary liability does not extend to breaches of duty constituting self-dealing, willful
misconduct or recklessness and does not relieve a director of liability for the payment of any
taxes pursuant to local, state or federal law, or liability or responsibility pursuant to any
criminal statute.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Article&nbsp;IX of the Registrant&#146;s 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 Registrant&#146;s request, a
director, officer, manager, employee, agent, fiduciary or trustee of another corporation,
partnership, limited liability company, joint venture, trust, employee benefit plan or other entity
or enterprise. The Bylaws specifically authorize indemnification against both judgments and amounts
paid in settlement of derivative suits, as well as indemnification for punitive damages.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Unlike the provisions of PBCL Section&nbsp;1744, which sets forth procedures for effecting
indemnification (but consistent with Section&nbsp;1746 of the PBCL), Article&nbsp;IX of the Bylaws does not
require us to determine the availability of indemnification by first following certain prescribed
procedures. A person who has incurred an indemnifiable expense or liability has a right to be
indemnified independent of any procedures or determinations that otherwise would be required, and
that right is enforceable against us 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
us to indemnify such portion. If the indemnification provided for in Article&nbsp;IX is unavailable for
any reason in respect of any liability or portion thereof, the Bylaws require us 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: 10pt">Section&nbsp;4 of Article&nbsp;IX of the Bylaws authorizes us to further effect or secure our indemnification
obligations by entering into indemnification agreements, maintaining insurance, creating a reserve,
trust, escrow, cash collateral or other fund or account, granting a security interest in our assets
or property, establishing a letter of credit or using any other means that may be available from
time to time. The Registrant maintains a directors&#146; and officers&#146; liability insurance policy that
affords directors and officers with insurance coverage for losses arising from claims based on
breaches of duty, negligence, error and other wrongful acts.
</DIV>


<DIV align="left" style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;7.</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><B>Exemption from Registration Claimed</B></U>.</DIV></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">None.
</DIV>


<DIV align="left" style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;8.</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><B>Exhibits</B></U>.</DIV></TD>
</TR>
</TABLE>
</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="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="86%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>

    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<tr>
    <TD>&nbsp;</TD>
</tr>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Safeguard Scientifics, Inc. 2004 Equity Compensation Plan, as amended and restated on July
13, 2009 (attached to the Registrant&#146;s Definitive Proxy Statement filed on July&nbsp;23, 2009)</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.1 </TD>
    <TD nowrap valign="top">&#134;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Morgan, Lewis &#038; Bockius LLP</DIV></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1 </TD>
    <TD nowrap valign="top">&#134;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of KPMG LLP</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2 </TD>
    <TD nowrap valign="top">&#134;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Morgan, Lewis &#038; Bockius LLP (included in opinion filed as Exhibit&nbsp;5.1 hereto)</DIV></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1 </TD>
    <TD nowrap valign="top">&#134;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (included with signature page of this Registration Statement)</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#134;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Filed herewith</DIV></TD>
</TR>

</TABLE>

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

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

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">






<DIV align="left" style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Item&nbsp;9.</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><B>Undertakings</B></U>.</DIV></TD>
</TR>
</TABLE>
</DIV>

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



<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">(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: 10pt; margin-left: 8%; text-indent: 0%">(i)&nbsp;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: 10pt; margin-left: 8%">(ii)&nbsp;To reflect in the prospectus any facts or events arising after the effective
date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in
the information set forth in the registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may
be reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more than
a 20% change in the maximum aggregate offering price set forth in the &#147;Calculation
of Registration Fee&#148; table in the effective registration statement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">(iii)&nbsp;To include any material information with respect to the plan of distribution
not previously disclosed in the registration statement or any material change to
such information in the registration statement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>provided</I>, <I>however</I>, that paragraph (1)(i) and (1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Commission by the Registrant pursuant to
Section&nbsp;13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in the registration statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">(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: 10pt; margin-left: 4%">(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: 10pt; margin-left: 4%; text-indent: 4%">The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the Registrant&#146;s annual report pursuant
to Section 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 the time shall be deemed to be the initial bona fide offering thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of the Registrant pursuant to
the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion
of the Securities and Exchange Commission such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of
expenses incurred or paid by a director, officer or controlling person of the Registrant in
the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and will be
governed by the final adjudication of such issue.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

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

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

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


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Pursuant to the requirements of the Securities Act, 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 Wayne, PA on December&nbsp;17, 2010.
</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">SAFEGUARD SCIENTIFICS, 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/ Peter J. Boni
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Peter J. Boni&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Pursuant to the requirements of the Securities Act, this registration statement has been signed
below by the following persons in the capacities and on the dates indicated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Each person whose signature appears below hereby appoints Peter J. Boni and Stephen T. Zarrilli,
and each of them acting individually, as his true and lawful attorneys-in-fact, with full power of
substitution and resubstitution, with the authority to execute in the name of each such person, and
to file with the Commission, together with any exhibits thereto and other documents therewith, any
and all amendments (including post-effective amendments) to this registration statement, and any
registration statements filed pursuant to General Instruction E to Form S-8 in respect of this
registration statement and any and all amendments thereto (including post-effective amendments and
all other related documents) necessary or advisable to enable the Registrant to comply with the
Securities Act, and any rules, regulations and requirements of the Commission in respect thereof,
which amendments or registration statements may make such other changes in the registration
statement as the aforesaid attorney-in-fact executing the same deems appropriate.
</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="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Peter J. Boni
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" rowspan="2">President, Chief Executive
Officer and Director <br>(principal
executive officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December&nbsp;17, 2010</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Peter J. Boni
</DIV></TD>
    <TD>&nbsp;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Stephen T. Zarrilli
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" rowspan="2">Senior Vice President and Chief
Financial Officer <br>(principal
financial and accounting officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December&nbsp;17, 2010</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stephen T. Zarrilli
</DIV></TD>
    <TD>&nbsp;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Julie A. Dobson
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" rowspan="2">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December&nbsp;17, 2010</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Julie A. Dobson
</DIV></TD>
    <TD>&nbsp;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Andrew E. Lietz
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" rowspan="2">Chairman of the Board of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December&nbsp;17, 2010</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Andrew E. Lietz
</DIV></TD>
    <TD>&nbsp;</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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ George McKenzie
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" rowspan="2">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December&nbsp;17, 2010</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">George McKenzie
</DIV></TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

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

<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /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; margin-left: .25in; width: 7.50in">

<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="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<tr>
    <TD>&nbsp;</TD>
</tr>
<TR valign="bottom">

<TD valign="top"><DIV style="font-size: 1px; border-bottom: 0px solid #000000">&nbsp;</DIV>/s/
George D. McClelland
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>

    <TD>&nbsp;</TD>
    <TD  nowrap align="left" valign="top">December 17, 2010</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1px; border-top: 1px solid #000000">&nbsp;</DIV>George D. McClelland
</DIV></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"><!-- 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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Jack L. Messman
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December&nbsp;17, 2010</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jack L. Messman
</DIV></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"><!-- 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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ John J. Roberts
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December&nbsp;17, 2010</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">John J. Roberts
</DIV></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"><!-- 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>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Robert J. Rosenthal
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December&nbsp;17, 2010</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert J. Rosenthal
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
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    <TD width="86%">&nbsp;</TD>
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<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit Number</TD>

    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

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</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Safeguard Scientifics, Inc. 2004 Equity Compensation Plan, as amended and restated on July
13, 2009 (attached to the Registrant&#146;s Definitive Proxy Statement filed on July&nbsp;23, 2009)</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.1 </TD>
    <TD nowrap valign="top">&#134;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Morgan, Lewis &#038; Bockius LLP</DIV></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1 </TD>
    <TD nowrap valign="top">&#134;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of KPMG LLP</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2 </TD>
    <TD nowrap valign="top">&#134;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Morgan, Lewis &#038; Bockius LLP (included in opinion filed as Exhibit&nbsp;5.1 hereto)</DIV></TD>
</TR>
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    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1 </TD>
    <TD nowrap valign="top">&#134;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (included with signature page of this Registration Statement)</DIV></TD>
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    <TD><DIV style="text-align: justify">Filed herewith</DIV></TD>
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[{"type": "S-8", "sequence": "1", "filename": "c09761sv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 54127}]
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Form S-8
As filed with the Securities and Exchange Commission on December 17, 2010
Registration Statement No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
SAFEGUARD SCIENTIFICS, INC.
(Exact name of registrant as specified in its charter)
Pennsylvania
23-1609753
(State of Incorporation)
(I.R.S. Employer Identification No.)
435 Devon Park Drive, Building 800, Wayne, PA 19087-1945
(Address of principal executive offices, including zip code)
2004 Equity Compensation Plan
(Full title of the plan)
Brian J. Sisko
Senior Vice President and General Counsel
Safeguard Scientifics, Inc.
435 Devon Park Drive, Building 800
Wayne, PA 19087-1945
(Name and Address of Agent for Service)
(610) 293-0600
(Telephone Number of Agent for Service)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See the definition of "large
accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the
Exchange Act. Check one:
Large accelerated filer
o
Accelerated filer
þ
Non-accelerated filer
o
Smaller reporting company
o
(Do not check if a smaller reporting company)
CALCULATION OF REGISTRATION FEE
Proposed
Proposed
Amount to
Maximum
Maximum
Amount of
Title of Each Class of Securities
Be
Offering Price
Aggregate
Registration
to Be Registered
Registered
(1)
Per Share
(2)
Offering Price
(2)
Fee
(2)
Common Stock, $.10 per share
1,166,666
$15.68
$18,293,323
$1,305
(1)
Pursuant to Rule 416 under the Securities Act of 1933, this registration statement also
registers such additional shares as may hereinafter be offered or issued to prevent dilution
resulting from stock splits, stock dividends, recapitalizations or certain other capital
adjustments.
(2)
Estimated pursuant to Rule 457(c) and 457(h) under the Securities Act of 1933 solely for
purposes of calculating the registration fee. The fee is computed based upon $15.68, the
average of the high and low prices for a share of common stock of the Registrant on December
14, 2010, as reported on the New York Stock Exchange.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in this Part I of Form S-8 will be sent or
given to participants in the Safeguard Scientifics, Inc. 2004 Equity Compensation Plan, or the
"Plan," covered by this Registration Statement as specified by Rule 428(b)(1) promulgated under the
Securities Act. Such documents need not be filed with the Securities and Exchange Commission, or
the "Commission," either as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule 424 promulgated under the Securities Act. These documents and the
documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of
this Form S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a)
of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference
.
The following documents, as filed by Safeguard Scientifics, Inc. (the "Registrant"), with the
Securities and Exchange Commission (the "Commission") are incorporated by reference in this
registration statement:
(1)
The Registrant's Annual Report on Form 10-K for the fiscal year ended December
31, 2009.
(2)
The Registrant's Quarterly Reports on Form 10-Q for the quarterly periods
ended March 31, 2010, June 30, 2010 and September 30, 2010.
(3)
The Registrant's Current Reports on Form 8-K filed with the Commission March
11, 2010, March 30, 2010, May 14, 2010, October 22, 2010 and November 8, 2010.
(4)
The description of the common stock contained on Forms 8-A as have been filed
with the SEC and amended from time to time.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange Act after the date of this registration statement and prior to the filing of a
post-effective amendment that indicates that all securities offered hereby have been sold or that
deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
in this registration statement and to be a part hereof from the date of filing of each such
document.
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 hereof to the extent that a statement
contained herein (or in any other subsequently filed document that also is, or is deemed to be,
incorporated by reference herein) modifies or supersedes such statement. Any statement contained
in a document that is deemed to be incorporated by reference or deemed to be a part hereof after
the most recent effective date may modify or replace existing statements contained herein. Any
such statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part hereof.
Expert
The consolidated financial statements
of Safeguard Scientifics, Inc. and subsidiaries as of December 31, 2009
and 2008, and for each of the years in the three-year period ended
December 31, 2009, and management's assessment of the effectiveness
of internal control over financial reporting as of December 31, 2009, have
been incorporated by reference herein in
reliance upon the reports of KPMG LLP, independent registered public accounting
firm, incorporated by reference herein, and upon the authority of said firm as
experts in accounting and auditing.
Item 4.
Description of Securities
.
Not Applicable.
Item 5.
Interests of Named Experts and Counsel
.
Not Applicable
Item 6.
Indemnification of Directors and Officers
.
Chapter 17, Subchapter D of the Pennsylvania Business Corporation Law of 1988, as amended (the
"PBCL"), contains provisions permitting indemnification of officers and directors of a business
corporation incorporated in Pennsylvania. Sections 1741 and 1742 of the PBCL provide that a
business corporation may indemnify directors and officers against liabilities and expenses they may
incur as such in connection with any threatened, pending or completed civil, administrative or
investigative proceeding, 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 provides that the corporation is required 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 responsibility
under a criminal statute.
Section 1746 of the PBCL provides that the indemnification provisions above are not exclusive of
the right to which a person seeking indemnification may be entitled under any bylaw, agreement,
vote of shareholders or disinterested directors or otherwise, 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.
Section 1747 of the PBCL permits a corporation to purchase and maintain insurance on behalf of any
person who is or was a director or officer of the corporation, or is or was serving at the request
of the corporation as a representative of another corporation or other enterprise, against any
liability asserted against such person and incurred by him or her in any such capacity, or arising
out of his or her status as such, whether or not the corporation would have the power to indemnify
the person against such liability under Chapter 17, Subchapter D of the PBCL.
Article IX of the Registrant's Second Amended and Restated Articles of Incorporation (the
"Articles"), provide that a director or officer of the Registrant shall not be personally liable
for monetary damages as such (including, without limitation, any judgment, amount paid in
settlement, penalty, punitive damages or expense of any nature (including, without limitation,
attorneys' fees and disbursements) for any action taken, or any failure to take any action, unless
the director or officer has breached or failed to perform the duties of his or her office under the
Articles or the Amended and Restated Bylaws (the "Bylaws"), of the Registrant or applicable
provisions of law and the breach or failure to perform constitutes self-dealing, willful misconduct
or recklessness.
Section 12 of Article III of the Registrant's Bylaws also limits the personal liability of
directors for monetary damages for any action taken, or any failure to take any action, unless the
director has breached or failed to perform the duties of his or her office. The limitation on
monetary liability does not extend to breaches of duty constituting self-dealing, willful
misconduct or recklessness and does not relieve a director of liability for the payment of any
taxes pursuant to local, state or federal law, or liability or responsibility pursuant to any
criminal statute.
Article IX of the Registrant's 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 Registrant's request, a
director, officer, manager, employee, agent, fiduciary or trustee of another corporation,
partnership, limited liability company, joint venture, trust, employee benefit plan or other entity
or enterprise. The Bylaws specifically authorize indemnification against both judgments and amounts
paid in settlement of derivative suits, as well as indemnification for punitive damages.
Unlike the provisions of PBCL Section 1744, which sets forth procedures for effecting
indemnification (but consistent with Section 1746 of the PBCL), Article IX of the Bylaws does not
require us to determine the availability of indemnification by first following certain prescribed
procedures. A person who has incurred an indemnifiable expense or liability has a right to be
indemnified independent of any procedures or determinations that otherwise would be required, and
that right is enforceable against us 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
us to indemnify such portion. If the indemnification provided for in Article IX is unavailable for
any reason in respect of any liability or portion thereof, the Bylaws require us 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 4 of Article IX of the Bylaws authorizes us to further effect or secure our indemnification
obligations by entering into indemnification agreements, maintaining insurance, creating a reserve,
trust, escrow, cash collateral or other fund or account, granting a security interest in our assets
or property, establishing a letter of credit or using any other means that may be available from
time to time. The Registrant maintains a directors' and officers' liability insurance policy that
affords directors and officers with insurance coverage for losses arising from claims based on
breaches of duty, negligence, error and other wrongful acts.
Item 7.
Exemption from Registration Claimed
.
None.
Item 8.
Exhibits
.
Exhibit Number
Description
4.1
Safeguard Scientifics, Inc. 2004 Equity Compensation Plan, as amended and restated on July
13, 2009 (attached to the Registrant's Definitive Proxy Statement filed on July 23, 2009)
5.1
†
Opinion of Morgan, Lewis & Bockius LLP
23.1
†
Consent of KPMG LLP
23.2
†
Consent of Morgan, Lewis & Bockius LLP (included in opinion filed as Exhibit 5.1 hereto)
24.1
†
Power of Attorney (included with signature page of this Registration Statement)
†
Filed herewith
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 set forth in the registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was registered) and
any deviation from the low or high end of the estimated maximum offering range may
be reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in volume and price represent no more than
a 20% change in the maximum aggregate offering price set forth in the "Calculation
of Registration Fee" table in the effective registration statement;
(iii) To include any material information with respect to the plan of distribution
not previously disclosed in the registration statement or any material change to
such information in the registration statement;
provided
,
however
, that paragraph (1)(i) and (1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Commission by the Registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933,
each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered 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, 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 the time shall be deemed to be the initial bona fide offering thereof.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of the Registrant pursuant to
the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion
of the Securities and Exchange Commission such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of
expenses incurred or paid by a director, officer or controlling person of the Registrant in
the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and will be
governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act, 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 Wayne, PA on December 17, 2010.
SAFEGUARD SCIENTIFICS, INC.
By:
/s/ Peter J. Boni
Peter J. Boni
President and Chief Executive Officer
Pursuant to the requirements of the Securities Act, this registration statement has been signed
below by the following persons in the capacities and on the dates indicated.
Each person whose signature appears below hereby appoints Peter J. Boni and Stephen T. Zarrilli,
and each of them acting individually, as his true and lawful attorneys-in-fact, with full power of
substitution and resubstitution, with the authority to execute in the name of each such person, and
to file with the Commission, together with any exhibits thereto and other documents therewith, any
and all amendments (including post-effective amendments) to this registration statement, and any
registration statements filed pursuant to General Instruction E to Form S-8 in respect of this
registration statement and any and all amendments thereto (including post-effective amendments and
all other related documents) necessary or advisable to enable the Registrant to comply with the
Securities Act, and any rules, regulations and requirements of the Commission in respect thereof,
which amendments or registration statements may make such other changes in the registration
statement as the aforesaid attorney-in-fact executing the same deems appropriate.
Signature
Title
Date
/s/ Peter J. Boni
President, Chief Executive
Officer and Director
(principal
executive officer)
December 17, 2010
Peter J. Boni
/s/ Stephen T. Zarrilli
Senior Vice President and Chief
Financial Officer
(principal
financial and accounting officer)
December 17, 2010
Stephen T. Zarrilli
/s/ Julie A. Dobson
Director
December 17, 2010
Julie A. Dobson
/s/ Andrew E. Lietz
Chairman of the Board of Directors
December 17, 2010
Andrew E. Lietz
/s/ George McKenzie
Director
December 17, 2010
George McKenzie
Signature
Title
Date
/s/
George D. McClelland
Director
December 17, 2010
George D. McClelland
/s/ Jack L. Messman
Director
December 17, 2010
Jack L. Messman
/s/ John J. Roberts
Director
December 17, 2010
John J. Roberts
/s/ Robert J. Rosenthal
Director
December 17, 2010
Robert J. Rosenthal
EXHIBIT INDEX
Exhibit Number
Description
4.1
Safeguard Scientifics, Inc. 2004 Equity Compensation Plan, as amended and restated on July
13, 2009 (attached to the Registrant's Definitive Proxy Statement filed on July 23, 2009)
5.1
†
Opinion of Morgan, Lewis & Bockius LLP
23.1
†
Consent of KPMG LLP
23.2
†
Consent of Morgan, Lewis & Bockius LLP (included in opinion filed as Exhibit 5.1 hereto)
24.1
†
Power of Attorney (included with signature page of this Registration Statement)
†
Filed herewith