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<DIV align="center" style="font-size: 10pt; margin-top: 18pt">As filed with the Securities and Exchange Commission on July&nbsp;18, 2011
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Registration No.&nbsp;333- &#95;&#95;&#95;&#95;
</DIV>


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




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

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


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>
<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>Form&nbsp;S-8</B>
</DIV>


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

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Walgreen Co.</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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<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Illinois</B><BR>
(State or other Jurisdiction <BR>
of Incorporation or Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>36-1924025</B><BR>
(I.R.S. Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>200 Wilmot Road, Deerfield, Illinois 60015</B><BR>
(Address and Zip Code of Principal Executive Offices)</DIV>

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

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Walgreen Co. Executive Deferred Profit-Sharing Plan, as amended and restated</B><BR>
(Full Title of the Plans)</DIV>

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

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Dana I. Green<BR>
Executive Vice President, General Counsel and Corporate Secretary<BR>
Walgreen Co.<BR>
200 Wilmot Road<BR>
Deerfield, Illinois 60015<BR>
Telephone: (847)&nbsp;315-3004</B><BR>
(Name, Address, and Telephone Number, including Area Code, of Agent for Service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><I>With copies to:</I><BR>
Joseph H. Greenberg, Esq.<BR>
Mark L. Dosier, Esq.<BR>
Walgreen Co.<BR>
104 Wilmot Road<BR>
Deerfield, Illinois 60015<BR>
Telephone: (847)&nbsp;315-2500</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See definitions of &#147;large accelerated
filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the Exchange Act.
</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>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top" nowrap>Large accelerated filer <FONT style="font-family: Wingdings">&#254;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Accelerated filer <FONT style="font-family: Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Non-accelerated filer <FONT style="font-family: Wingdings">&#111;</FONT><br>
(Do not check if a smaller reporting company)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Smaller reporting company <FONT style="font-family: Wingdings">&#111;</FONT></TD>
</TR>
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</TABLE>
</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%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&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>&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">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of Securities</B></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>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>to be Registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Registered(2)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Share</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Price(2)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Registration 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">Deferred Compensation
Obligations(1)</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$150,000,000</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">100%</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">$150,000,000</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">$17,415</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 6pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

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

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>The Deferred Compensation Obligations are unsecured obligations of the Registrant to
pay deferred compensation in the future in accordance with the terms of the Walgreen Co.
Executive Deferred Profit-Sharing Plan, as amended and restated.</TD>
</TR>

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

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the registration fee.</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>





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</DIV>

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










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

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


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>
<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There are hereby incorporated by reference into this Registration Statement the following
documents and information heretofore filed with the Securities and Exchange Commission (the
&#147;Commission&#148;) by the Registrant:
</DIV>

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

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Annual Report on Form 10-K for the fiscal year ended August
31, 2010;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Quarterly Reports on Form 10-Q for the fiscal quarters ended
November&nbsp;30, 2010, February&nbsp;28, 2011 (as amended by the Form 10-Q/A filed on April&nbsp;6,
2011) and May&nbsp;31, 2011; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Current Reports on Form 8-K filed on October&nbsp;6, 2010, November
12, 2010, December&nbsp;6, 2010, January&nbsp;19, 2011, March&nbsp;9, 2011, March&nbsp;24, 2011, April&nbsp;14,
2011, June&nbsp;21, 2011 and July&nbsp;15, 2011; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Registrant&#146;s common stock contained in its Registration
Statement pursuant to Section&nbsp;12 of the Exchange Act and any amendments or reports
filed for the purpose of updating such description.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, each document filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and
15(d) of the Exchange Act after the date hereof and prior to the filing of a post-effective
amendment that indicates that all securities offered hereunder have been sold or that deregisters
all securities then remaining unsold under this Registration Statement, shall be deemed to be
incorporated by reference herein and to be part hereof from the respective dates of filing of such
documents, provided that, unless specifically stated to the contrary, documents or information
deemed to have been furnished and not filed in accordance with Commission rules shall not be deemed
incorporated by reference into or otherwise included in this Registration Statement. Any statement
contained herein or in a document incorporated herein by reference 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 incorporated herein by reference modifies or supersedes such statement.
Any such statement so modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this Registration Statement.
</DIV>
<!-- link1 "Item&nbsp;4. Description of Securities" -->

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The securities being offered hereby are deferred compensation obligations (the &#147;Obligations&#148;).
Pursuant to the Walgreen Co. Executive Deferred Profit-Sharing Plan, as amended and restated
effective January&nbsp;1, 2012 (the &#147;Plan&#148;), the Registrant provides certain eligible employees of the
Registrant and its subsidiaries (the &#147;Participants&#148;) with the opportunity to defer a portion of
their compensation and accumulate tax-deferred earnings thereon. A brief description of certain
aspects of the Plan follows (the official provisions of the Plan are contained in the Plan
document, which controls in the event of a discrepancy):
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Plan provides eligible participants with deferred payment of a specified portion of their
cash compensation and certain company contributions. The amount to be deferred will be determined
in accordance with the participants&#146; elections. Participants may elect to defer amounts that, due
to legal limitations, cannot be contributed to the participants&#146; accounts under the Registrant&#146;s
Profit-Sharing Retirement Plan (the &#147;Profit-Sharing Plan&#148;), the tax-qualified retirement plan of
the Registrant. Participants can choose from a variety of investment options under the
Profit-Sharing Plan, and their corresponding accounts under the Plan are credited with earnings and
losses based on the performance of the chosen funds. The available investment options include a
fund that invests primarily in the Common Stock of the Registrant, but only on a limited basis and
only with respect to Registrant matching contributions/credits. The Registrant will keep a
bookkeeping account of the value
of each Participant&#146;s deferred compensation, including adjustments to the account based on the
performance of the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->II-1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">investment funds chosen by the Participant under the Profit-Sharing Plan. While
the Obligations will not actually be invested, the accounts under the Plan will reflect investment
earnings, gains and losses of the selected investment options.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Obligations are issuable under the Plan from time to time and are general unsecured
obligations of the Registrant to pay deferred compensation in the future in accordance with the
terms of the Plan from the general assets of the Registrant and rank pari passu with other
unsecured indebtedness of the Registrant. Each Participant&#146;s deferred compensation will be
commingled with the general funds of the Registrant and may therefore be subject to the rights of
other creditors, including any lien or security interest.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All Obligations which are vested in accordance with the terms of the Plan will be payable in
accordance with the terms of the Plan, which provides that either the Trustees of the
Profit-Sharing Plan shall, in their sole discretion, select the time and manner in which
Participants&#146; account balances shall be distributed, which may include the methods permitted under
the Profit-Sharing Plan or the Participant shall elect the time and form of payment according to
the terms of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant reserves the right to amend or terminate the Plan at any time, provided that
amendment or termination will not change the then existing credits to or adjustments of the account
balances of Participants, or alter a Participant&#146;s right to receive a distribution thereof.
However, if the Registrant is liquidated, it shall have the right to determine the value of each
Participant&#146;s bookkeeping account and pay any unpaid distributions in any manner which the Trustees
of the Walgreen Co. Profit-Sharing Plan determine to be just and equitable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Obligations are not convertible into any other security of the Registrant, and
Participants&#146; rights to or interests in the Obligations may not be assigned without the
Registrant&#146;s consent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing summary is subject to the complete text of the Plan and is qualified in its
entirety by reference thereto.
</DIV>
<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel" -->

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dana I. Green, Executive Vice President, General Counsel and Corporate Secretary of the
Registrant, has opined as to the legality of the securities being offered by this Registration
Statement. As of July&nbsp;1, 2011, Ms.&nbsp;Green beneficially owned approximately 79,037 shares of Common
Stock (including shares underlying restricted stock units) and held options to acquire 281,419
shares of Common Stock (68,876 of which were exercisable, in-the-money options), representing in
the aggregate less than 0.1% of the Registrant&#146;s outstanding Common Stock.
</DIV>
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers" -->

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8.75 of the Illinois Business Corporation Act (the &#147;IBCA&#148;) provides that a corporation
may indemnify any person who, by reason of the fact that such person is or was a director, officer,
employee or agent of such corporation, or who is or was serving at the request of the corporation
as a director, officer, employee or agent of another corporation, partnership, joint venture, trust
or other enterprise, is made a party to any threatened, pending or completed action, suit or
proceeding, whether civil, criminal, administrative or investigative, other than one brought on
behalf of the corporation, against expenses (including attorneys&#146; fees), judgments, fines and
settlement payments actually and reasonably incurred in connection with the action, suit or
proceeding, if such 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 such corporation and, in criminal actions or
proceedings, had no reasonable cause to believe his or her conduct was unlawful. In the case of
actions on behalf of the corporation, indemnification may extend only to expenses (including
attorneys&#146; fees) actually and reasonably incurred in connection with the defense or settlement of
such action or suit and only if such 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, provided
that no such indemnification is permitted in respect of any claim, issue or matter as to which such
person is adjudged to be liable to the corporation except to
the extent that the adjudicating court otherwise provides. To the extent that a present or former
director, officer or employee of the corporation has been successful in defending any such action,
suit or proceeding (even one on
</DIV>

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</DIV>

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



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">behalf of the corporation) or in defense of any claim, issue or
matter therein, such person is entitled to indemnification for expenses (including attorneys&#146; fees)
actually and reasonably incurred by such person in connection therewith if the 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. Expenses (including attorney&#146;s fees) incurred by an officer or director in
defending an action, suit, or proceeding may be paid by the corporation in advance of the final
disposition of such action, suit, or proceeding, provided that the director or officer undertakes
to repay such advances should it ultimately be determined that the officer or director is not
entitled to be indemnified pursuant to Section&nbsp;8.75 of the IBCA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The By-Laws of the registrant provide that the registrant shall, in the case of persons who
are or were directors or officers of the registrant, and may, as to other persons, indemnify to the
fullest extent permitted by law any person who was or is a party, or is threatened to be made a
party, to any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative, by reason of the fact that he or she is or was a director,
officer, employee or agent, or is or was serving at the request of the registrant as a director,
officer, employee, trustee, fiduciary or agent of another corporation, partnership, joint venture,
trust or other enterprise. This provision is applicable to all expenses (including attorneys&#146; fees
and other expenses of litigation), judgments, fines, ERISA excise taxes or penalties and amounts
paid in settlement actually and reasonably incurred in connection with such action, suit or
proceeding. Expenses incurred by an officer or director in defending a civil or criminal action,
suit or proceeding may be paid by the registrant in advance of the final disposition of such
action, suit or proceeding, upon receipt of an undertaking by or on behalf of the director or
officer to repay such amount if it shall ultimately be determined that he or she is not entitled to
indemnification.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restated Article&nbsp;R-VIII of the registrant&#146;s Articles of Incorporation, as amended, provides
that the directors of the registrant shall not be liable to the registrant or to the shareholders
of the registrant for monetary damages for breach of fiduciary duties as a director, other than
liability (i)&nbsp;for any breach of the director&#146;s duty of loyalty to the registrant or the
shareholders of the registrant, (ii)&nbsp;for acts or omissions not in good faith or that involve
intentional misconduct or a knowing violation of the law, (iii)&nbsp;under Section&nbsp;8.65 of the IBCA or
(iv)&nbsp;for any transaction from which the director derived an improper personal benefit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The indemnification provided for by Section&nbsp;8.75 of the IBCA is not exclusive of any other
rights to which those seeking indemnification or advancement of expenses may be entitled under any
by-law, agreement, vote of shareholders or disinterested directors or otherwise, and a corporation
may maintain insurance on behalf of any person who is or was a director, officer, employee or agent
against liabilities for which indemnification is not expressly provided by the IBCA. The directors
and officers of the registrant are insured under a directors and officers liability insurance
policy maintained by the registrant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing summaries are subject to the complete text of the IBCA and the registrant&#146;s
amended and restated articles of incorporation and by-laws and are qualified in their entirety by
reference thereto.
</DIV>
<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->

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


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

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See the attached Exhibit&nbsp;Index, which is incorporated herein by reference.
</DIV>
<!-- link2 "Item&nbsp;9. Undertakings" -->

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


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

<P align="center" style="font-size: 10pt"><!-- Folio -->II-3<!-- /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="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section&nbsp;10(a)(3) of the Securities
Act of 1933;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the registration statement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Provided, however, </I>that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those paragraphs is
contained in 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 this registration statement.
</DIV>


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


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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the Registrant&#146;s annual report pursuant
to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by
reference in this registration statement shall be deemed to be a new registration statement
relating to the securities offering herein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
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"><!-- Folio -->II-4<!-- /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">

<!-- link1 "SIGNATURES" -->
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, 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 Village of Deerfield, State of Illinois, on this
18<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> day of July, 2011.
</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">WALGREEN CO.<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/ Wade D. Miquelon
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Wade D. Miquelon&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Executive Vice President and<br>
Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

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



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
and appoints Gregory D. Wasson and Wade D. Miquelon, and each of them, his true and lawful
attorneys-in-fact and agents, with full power of substitution and resubstitution for him and in his
name, place and stead, in any and all capacities, to sign, execute and file this Registration
Statement and any amendments (including, without limitation, post-effective amendments) to this
Registration Statement, and to file the same, with all exhibits thereto and all documents required
to be filed with respect therewith, with the Securities and Exchange Commission or any regulatory
authority, granting unto such attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in connection therewith and
about the premises in order to effectuate the same as fully to all intents and purposes as he might
or could do if personally present, hereby ratifying and confirming all that such attorneys-in-fact
and agents or his or their substitute or substitutes, may lawfully do or cause to be done. This
Power of Attorney may be signed in several counterparts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration
Statement has been signed by the following persons in the capacities indicated on this
18th<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> day of July, 2011.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Gregory D. Wasson
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Wade D. Miquelon</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">Gregory D. Wasson
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Wade D. Miquelon</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">President, Chief Executive Officer and Director<BR>
(Principal Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Executive Vice President and Chief Financial Officer<BR>
Principal Financial Officer)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Mia M. Scholz
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Alan G. McNally</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">Mia M. Scholz
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Alan G. McNally</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">Senior Vice President, Controller and <BR>
Chief Accounting Officer <BR>(Principal
Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Chairman of the Board and Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ David J. Brailer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Steven A. Davis</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">David J. Brailer, Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Steven A. Davis, Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ William C. Foote
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Mark P. Frissora</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">William C. Foote, Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Mark P. Frissora, Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Ginger L. Graham</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</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">Ginger L. Graham, Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Nancy M. Schlichting, Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ David Y. Schwartz
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">/s/ Alejandro Silva</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">David Y. Schwartz, Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Alejandro Silva, Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ James A. Skinner</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</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: 0px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">James A. Skinner, Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->S-1<!-- /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">

<!-- link1 "Exhibit Index" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Exhibit&nbsp;Index</B>
</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="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description of Document</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Reference</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" 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">Amended and Restated Articles
of Incorporation of Walgreen
Co.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Incorporated by
reference to Exhibit
3.1 to Walgreen Co.&#146;s
Current Report on Form
8-K (File No.&nbsp;1-00604)
filed with the SEC on
January&nbsp;19, 2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <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 nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated By-Laws of
Walgreen Co., as amended
effective as of September&nbsp;1,
2008.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Incorporated by
reference to Exhibit
3.1 to Walgreen Co.&#146;s
Current Report on Form
8-K (File No.&nbsp;1-00604),
filed with the SEC on
September&nbsp;5, 2008.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <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 nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.3</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Walgreen Co. Executive Deferred
Profit-Sharing Plan, as amended
and restated effective January
1, 2012.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Incorporated by
reference to Exhibit
10.2 to Walgreen Co.&#146;s
Current Report on Form
8-K (File No.&nbsp;1-00604)
filed with the SEC on
July&nbsp;15, 2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <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 nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Dana I. Green,
Executive Vice President,
General Counsel &#038; Corporate
Secretary of Walgreen Co.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Filed herewith.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <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 nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Deloitte &#038; Touche LLP
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Filed herewith.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <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 nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Dana I. Green,
Executive Vice President,
General Counsel &#038; Corporate
Secretary of Walgreen Co.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Included in Exhibit&nbsp;5.1.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <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 nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Powers of Attorney
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">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>



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[{"type": "S-8", "sequence": "1", "filename": "c65481sv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 49379}]
{"company-data": {"conformed-name": "WALGREEN CO", "cik": "0000104207", "assigned-sic": "5912", "irs-number": "361924025", "state-of-incorporation": "IL", "fiscal-year-end": "0831"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-175642", "film-number": "11973115"}, "business-address": {"street1": "200 WILMOT RD", "city": "DEERFIELD", "state": "IL", "zip": "60015", "phone": "8479402500"}, "mail-address": {"street1": "200 WILMOT RD", "city": "DEERFIELD", "state": "IL", "zip": "60015"}}
sv8
As filed with the Securities and Exchange Commission on July 18, 2011
Registration No. 333- ____
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Walgreen Co.
(Exact Name of Registrant as Specified in its Charter)
Illinois
(State or other Jurisdiction
of Incorporation or Organization)
36-1924025
(I.R.S. Employer Identification No.)
200 Wilmot Road, Deerfield, Illinois 60015
(Address and Zip Code of Principal Executive Offices)
Walgreen Co. Executive Deferred Profit-Sharing Plan, as amended and restated
(Full Title of the Plans)
Dana I. Green
Executive Vice President, General Counsel and Corporate Secretary
Walgreen Co.
200 Wilmot Road
Deerfield, Illinois 60015
Telephone: (847) 315-3004
(Name, Address, and Telephone Number, including Area Code, of Agent for Service)
With copies to:
Joseph H. Greenberg, Esq.
Mark L. Dosier, Esq.
Walgreen Co.
104 Wilmot Road
Deerfield, Illinois 60015
Telephone: (847) 315-2500
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 definitions of "large accelerated
filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
þ
Accelerated filer
o
Non-accelerated filer
o
(Do not check if a smaller reporting company)
Smaller reporting company
o
CALCULATION OF REGISTRATION FEE
Amount
Proposed Maximum
Proposed Maximum
Title of Securities
to be
Offering Price Per
Aggregate Offering
Amount of
to be Registered
Registered(2)
Share
Price(2)
Registration Fee
Deferred Compensation
Obligations(1)
$150,000,000
100%
$150,000,000
$17,415
(1)
The Deferred Compensation Obligations are unsecured obligations of the Registrant to
pay deferred compensation in the future in accordance with the terms of the Walgreen Co.
Executive Deferred Profit-Sharing Plan, as amended and restated.
(2)
Estimated solely for the purpose of calculating the registration fee.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
There are hereby incorporated by reference into this Registration Statement the following
documents and information heretofore filed with the Securities and Exchange Commission (the
"Commission") by the Registrant:
1.
The Registrant's Annual Report on Form 10-K for the fiscal year ended August
31, 2010;
2.
The Registrant's Quarterly Reports on Form 10-Q for the fiscal quarters ended
November 30, 2010, February 28, 2011 (as amended by the Form 10-Q/A filed on April 6,
2011) and May 31, 2011; and
3.
The Registrant's Current Reports on Form 8-K filed on October 6, 2010, November
12, 2010, December 6, 2010, January 19, 2011, March 9, 2011, March 24, 2011, April 14,
2011, June 21, 2011 and July 15, 2011; and
4.
The description of the Registrant's common stock contained in its Registration
Statement pursuant to Section 12 of the Exchange Act and any amendments or reports
filed for the purpose of updating such description.
In addition, each document filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and
15(d) of the Exchange Act after the date hereof and prior to the filing of a post-effective
amendment that indicates that all securities offered hereunder have been sold or that deregisters
all securities then remaining unsold under this Registration Statement, shall be deemed to be
incorporated by reference herein and to be part hereof from the respective dates of filing of such
documents, provided that, unless specifically stated to the contrary, documents or information
deemed to have been furnished and not filed in accordance with Commission rules shall not be deemed
incorporated by reference into or otherwise included in this Registration Statement. Any statement
contained herein or in a document incorporated herein by reference 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 incorporated herein by reference modifies or supersedes such statement.
Any such statement so modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
The securities being offered hereby are deferred compensation obligations (the "Obligations").
Pursuant to the Walgreen Co. Executive Deferred Profit-Sharing Plan, as amended and restated
effective January 1, 2012 (the "Plan"), the Registrant provides certain eligible employees of the
Registrant and its subsidiaries (the "Participants") with the opportunity to defer a portion of
their compensation and accumulate tax-deferred earnings thereon. A brief description of certain
aspects of the Plan follows (the official provisions of the Plan are contained in the Plan
document, which controls in the event of a discrepancy):
The Plan provides eligible participants with deferred payment of a specified portion of their
cash compensation and certain company contributions. The amount to be deferred will be determined
in accordance with the participants' elections. Participants may elect to defer amounts that, due
to legal limitations, cannot be contributed to the participants' accounts under the Registrant's
Profit-Sharing Retirement Plan (the "Profit-Sharing Plan"), the tax-qualified retirement plan of
the Registrant. Participants can choose from a variety of investment options under the
Profit-Sharing Plan, and their corresponding accounts under the Plan are credited with earnings and
losses based on the performance of the chosen funds. The available investment options include a
fund that invests primarily in the Common Stock of the Registrant, but only on a limited basis and
only with respect to Registrant matching contributions/credits. The Registrant will keep a
bookkeeping account of the value
of each Participant's deferred compensation, including adjustments to the account based on the
performance of the
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investment funds chosen by the Participant under the Profit-Sharing Plan. While
the Obligations will not actually be invested, the accounts under the Plan will reflect investment
earnings, gains and losses of the selected investment options.
The Obligations are issuable under the Plan from time to time and are general unsecured
obligations of the Registrant to pay deferred compensation in the future in accordance with the
terms of the Plan from the general assets of the Registrant and rank pari passu with other
unsecured indebtedness of the Registrant. Each Participant's deferred compensation will be
commingled with the general funds of the Registrant and may therefore be subject to the rights of
other creditors, including any lien or security interest.
All Obligations which are vested in accordance with the terms of the Plan will be payable in
accordance with the terms of the Plan, which provides that either the Trustees of the
Profit-Sharing Plan shall, in their sole discretion, select the time and manner in which
Participants' account balances shall be distributed, which may include the methods permitted under
the Profit-Sharing Plan or the Participant shall elect the time and form of payment according to
the terms of the Plan.
The Registrant reserves the right to amend or terminate the Plan at any time, provided that
amendment or termination will not change the then existing credits to or adjustments of the account
balances of Participants, or alter a Participant's right to receive a distribution thereof.
However, if the Registrant is liquidated, it shall have the right to determine the value of each
Participant's bookkeeping account and pay any unpaid distributions in any manner which the Trustees
of the Walgreen Co. Profit-Sharing Plan determine to be just and equitable.
The Obligations are not convertible into any other security of the Registrant, and
Participants' rights to or interests in the Obligations may not be assigned without the
Registrant's consent.
The foregoing summary is subject to the complete text of the Plan and is qualified in its
entirety by reference thereto.
Item 5. Interests of Named Experts and Counsel.
Dana I. Green, Executive Vice President, General Counsel and Corporate Secretary of the
Registrant, has opined as to the legality of the securities being offered by this Registration
Statement. As of July 1, 2011, Ms. Green beneficially owned approximately 79,037 shares of Common
Stock (including shares underlying restricted stock units) and held options to acquire 281,419
shares of Common Stock (68,876 of which were exercisable, in-the-money options), representing in
the aggregate less than 0.1% of the Registrant's outstanding Common Stock.
Item 6. Indemnification of Directors and Officers.
Section 8.75 of the Illinois Business Corporation Act (the "IBCA") provides that a corporation
may indemnify any person who, by reason of the fact that such person is or was a director, officer,
employee or agent of such corporation, or who is or was serving at the request of the corporation
as a director, officer, employee or agent of another corporation, partnership, joint venture, trust
or other enterprise, is made a party to any threatened, pending or completed action, suit or
proceeding, whether civil, criminal, administrative or investigative, other than one brought on
behalf of the corporation, against expenses (including attorneys' fees), judgments, fines and
settlement payments actually and reasonably incurred in connection with the action, suit or
proceeding, if such 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 such corporation and, in criminal actions or
proceedings, had no reasonable cause to believe his or her conduct was unlawful. In the case of
actions on behalf of the corporation, indemnification may extend only to expenses (including
attorneys' fees) actually and reasonably incurred in connection with the defense or settlement of
such action or suit and only if such 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, provided
that no such indemnification is permitted in respect of any claim, issue or matter as to which such
person is adjudged to be liable to the corporation except to
the extent that the adjudicating court otherwise provides. To the extent that a present or former
director, officer or employee of the corporation has been successful in defending any such action,
suit or proceeding (even one on
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behalf of the corporation) or in defense of any claim, issue or
matter therein, such person is entitled to indemnification for expenses (including attorneys' fees)
actually and reasonably incurred by such person in connection therewith if the 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. Expenses (including attorney's fees) incurred by an officer or director in
defending an action, suit, or proceeding may be paid by the corporation in advance of the final
disposition of such action, suit, or proceeding, provided that the director or officer undertakes
to repay such advances should it ultimately be determined that the officer or director is not
entitled to be indemnified pursuant to Section 8.75 of the IBCA.
The By-Laws of the registrant provide that the registrant shall, in the case of persons who
are or were directors or officers of the registrant, and may, as to other persons, indemnify to the
fullest extent permitted by law any person who was or is a party, or is threatened to be made a
party, to any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative, by reason of the fact that he or she is or was a director,
officer, employee or agent, or is or was serving at the request of the registrant as a director,
officer, employee, trustee, fiduciary or agent of another corporation, partnership, joint venture,
trust or other enterprise. This provision is applicable to all expenses (including attorneys' fees
and other expenses of litigation), judgments, fines, ERISA excise taxes or penalties and amounts
paid in settlement actually and reasonably incurred in connection with such action, suit or
proceeding. Expenses incurred by an officer or director in defending a civil or criminal action,
suit or proceeding may be paid by the registrant in advance of the final disposition of such
action, suit or proceeding, upon receipt of an undertaking by or on behalf of the director or
officer to repay such amount if it shall ultimately be determined that he or she is not entitled to
indemnification.
Restated Article R-VIII of the registrant's Articles of Incorporation, as amended, provides
that the directors of the registrant shall not be liable to the registrant or to the shareholders
of the registrant for monetary damages for breach of fiduciary duties as a director, other than
liability (i) for any breach of the director's duty of loyalty to the registrant or the
shareholders of the registrant, (ii) for acts or omissions not in good faith or that involve
intentional misconduct or a knowing violation of the law, (iii) under Section 8.65 of the IBCA or
(iv) for any transaction from which the director derived an improper personal benefit.
The indemnification provided for by Section 8.75 of the IBCA is not exclusive of any other
rights to which those seeking indemnification or advancement of expenses may be entitled under any
by-law, agreement, vote of shareholders or disinterested directors or otherwise, and a corporation
may maintain insurance on behalf of any person who is or was a director, officer, employee or agent
against liabilities for which indemnification is not expressly provided by the IBCA. The directors
and officers of the registrant are insured under a directors and officers liability insurance
policy maintained by the registrant.
The foregoing summaries are subject to the complete text of the IBCA and the registrant's
amended and restated articles of incorporation and by-laws and are qualified in their entirety by
reference thereto.
Item 7. Exemption from Registration Claimed.
Not Applicable.
Item 8. Exhibits.
See the attached Exhibit Index, which is incorporated herein by reference.
Item 9. Undertakings.
(a) The undersigned Registrant hereby undertakes:
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(1) To file during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities
Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the registration statement;
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement;
Provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those paragraphs is
contained in 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 this registration statement.
(2) That, for the purpose of determining any liability under the Securities Act of
1933, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant
to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by
reference in this registration statement shall be deemed to be a new registration statement
relating to the securities offering herein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
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.
II-4
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, 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 Village of Deerfield, State of Illinois, on this
18
th
day of July, 2011.
WALGREEN CO.
By:
/s/ Wade D. Miquelon
Wade D. Miquelon
Executive Vice President and
Chief Financial Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
and appoints Gregory D. Wasson and Wade D. Miquelon, and each of them, his true and lawful
attorneys-in-fact and agents, with full power of substitution and resubstitution for him and in his
name, place and stead, in any and all capacities, to sign, execute and file this Registration
Statement and any amendments (including, without limitation, post-effective amendments) to this
Registration Statement, and to file the same, with all exhibits thereto and all documents required
to be filed with respect therewith, with the Securities and Exchange Commission or any regulatory
authority, granting unto such attorneys-in-fact and agents full power and authority to do and
perform each and every act and thing requisite and necessary to be done in connection therewith and
about the premises in order to effectuate the same as fully to all intents and purposes as he might
or could do if personally present, hereby ratifying and confirming all that such attorneys-in-fact
and agents or his or their substitute or substitutes, may lawfully do or cause to be done. This
Power of Attorney may be signed in several counterparts.
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration
Statement has been signed by the following persons in the capacities indicated on this
18th
th
day of July, 2011.
/s/ Gregory D. Wasson
/s/ Wade D. Miquelon
Gregory D. Wasson
Wade D. Miquelon
President, Chief Executive Officer and Director
(Principal Executive Officer)
Executive Vice President and Chief Financial Officer
Principal Financial Officer)
/s/ Mia M. Scholz
/s/ Alan G. McNally
Mia M. Scholz
Alan G. McNally
Senior Vice President, Controller and
Chief Accounting Officer
(Principal
Accounting Officer)
Chairman of the Board and Director
/s/ David J. Brailer
/s/ Steven A. Davis
David J. Brailer, Director
Steven A. Davis, Director
/s/ William C. Foote
/s/ Mark P. Frissora
William C. Foote, Director
Mark P. Frissora, Director
/s/ Ginger L. Graham
Ginger L. Graham, Director
Nancy M. Schlichting, Director
/s/ David Y. Schwartz
/s/ Alejandro Silva
David Y. Schwartz, Director
Alejandro Silva, Director
/s/ James A. Skinner
James A. Skinner, Director
S-1
Exhibit Index
Exhibit
Description of Document
Reference
4.1
Amended and Restated Articles
of Incorporation of Walgreen
Co.
Incorporated by
reference to Exhibit
3.1 to Walgreen Co.'s
Current Report on Form
8-K (File No. 1-00604)
filed with the SEC on
January 19, 2011.
4.2
Amended and Restated By-Laws of
Walgreen Co., as amended
effective as of September 1,
2008.
Incorporated by
reference to Exhibit
3.1 to Walgreen Co.'s
Current Report on Form
8-K (File No. 1-00604),
filed with the SEC on
September 5, 2008.
4.3
Walgreen Co. Executive Deferred
Profit-Sharing Plan, as amended
and restated effective January
1, 2012.
Incorporated by
reference to Exhibit
10.2 to Walgreen Co.'s
Current Report on Form
8-K (File No. 1-00604)
filed with the SEC on
July 15, 2011.
5.1
Opinion of Dana I. Green,
Executive Vice President,
General Counsel & Corporate
Secretary of Walgreen Co.
Filed herewith.
23.1
Consent of Deloitte & Touche LLP
Filed herewith.
23.2
Consent of Dana I. Green,
Executive Vice President,
General Counsel & Corporate
Secretary of Walgreen Co.
Included in Exhibit 5.1.
24.1
Powers of Attorney
Included on the
signature page of this
Registration Statement.