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 <div style="border:none;border-top:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><a name="scotch"></a></p> </div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</font></b><font size="2" style="font-size:10.0pt;"><br>
</font><font size="2" style="font-size:10.0pt;">WASHINGTON, D.C.
20549</font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">FORM S-8</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">REGISTRATION
STATEMENT UNDER<br>
THE SECURITIES ACT OF 1933</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">OVERLAND STORAGE, INC.</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">(Exact Name of Registrant as Specified in its Charter)</font></b></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b>California</b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">95-3535285</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or Other
  Jurisdiction of Incorporation or Organization)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer
  Identification No.)</font></p>
  </td>
 </tr>
</table>

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<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4820 Overland Avenue, San Diego, CA 92123</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of Principal
Executive Offices)</font></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2006 EMPLOYEE STOCK PURCHASE PLAN</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Full Title of the Plan)</font></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Scott McClendon</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Interim President and Chief Executive Officer</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Overland Storage, Inc.</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4820 Overland Avenue</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">San Diego, CA 92123</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name and Address of Agent
For Service)</font></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(858) 571-5555</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Telephone Number, Including
Area Code, of Agent For Service)</font></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Copies to:</font></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">John J. Hentrich, Esq.</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Sheppard, Mullin, Richter&nbsp;&amp; Hampton LLP</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">12275 El Camino Real, Suite 200</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">San Diego, California 92130</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Telephone: (858)&nbsp;720-8900</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Facsimile:
(858)&nbsp;509-3691</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">CALCULATION
OF REGISTRATION FEE</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:45.74%;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><!-- SET mrlNoTableShading -->Title&nbsp;of&nbsp;Securities&nbsp;to&nbsp;be&nbsp;Registered</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.78%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:9.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Amount&nbsp;to&nbsp;be<br>
  Registered(1)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.78%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="9%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:9.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Proposed<br>
  Maximum<br>
  Offering&nbsp;Price<br>
  per&nbsp;Share</font></b></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:4.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="9%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:9.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Proposed<br>
  Maximum<br>
  Aggregate<br>
  Offering<br>
  Price</font></b></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:4.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="9%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:9.9%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Amount&nbsp;of<br>
  Registration<br>
  Fee</font></b></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:45.74%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.78%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:9.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.78%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:9.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:4.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:9.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:4.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" colspan="2" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:9.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.74%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common Stock, no par
  value</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.78%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="9%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:9.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">500,000</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.78%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.84 </font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:4.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$&nbsp;</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,420,000 </font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:4.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">258.94</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="342" style="border:none;"></td>
  <td width="21" style="border:none;"></td>
  <td width="74" style="border:none;"></td>
  <td width="21" style="border:none;"></td>
  <td width="8" style="border:none;"></td>
  <td width="69" style="border:none;"></td>
  <td width="32" style="border:none;"></td>
  <td width="7" style="border:none;"></td>
  <td width="66" style="border:none;"></td>
  <td width="32" style="border:none;"></td>
  <td width="7" style="border:none;"></td>
  <td width="66" style="border:none;"></td>
  <td width="2" style="border:none;"></td>
 </tr>
</table>

<div style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><hr size="1" width="160" noshade color="black" align="left" style="width:120.0pt;"></div>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">In accordance
with Rule 416 under the Securities Act of 1933, as amended, this registration
statement shall be deemed to cover any additional securities that may from time
to time be offered or issued to prevent dilution resulting from stock splits,
stock dividends or similar transactions.</font></p>

<p style="margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Estimated solely for
the purpose of calculating the amount of the registration fee pursuant to Rule
457(h) of the Securities Act of 1933. The proposed maximum offering&#160; price per share and proposed maximum
aggregate offering price are based upon the average of the high and low sales
price as reported on the NASDAQ Global Market on November 28, 2006.</font></p>


 <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>
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<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">PART I</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">INFORMATION REQUIRED IN
THE<br>
SECTION 10(a) PROSPECTUS</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As permitted by the rules of the Securities and Exchange Commission,
this registration statement omits the information specified in Part I of Form
S-8.&#160; Document(s) containing the
information required by Part I of this registration statement will be sent or
given to participants in the plan subject to this registration statement as
specified by Rule 428(b)(1) under the Securities Act of 1933.&#160; Such document(s) are not filed with the SEC
pursuant to Rule 424 under the Securities Act.&#160;
Such document(s) and the documents incorporated by reference pursuant to
Item 3 of Part II of this registration statement, taken together, constitute a
prospectus that meets the requirements of Section 10(a) of the Securities Act.</font></p>


 <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I-</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
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<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">PART II<br>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 3.&#160;&#160;&#160; &#160;
Incorporation of Documents by Reference</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following documents filed by the registrant with the Securities and
Exchange Commission are hereby incorporated by reference into this registration
statement:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Annual
report on Form 10-K for the fiscal year ended June&nbsp;30, 2006, filed on
September 15, 2006;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Current
reports on Form 8-K filed with the Commission on July 28, 2006, October 5,
2006, and November 7, 2006;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Quarterly
report on Form 10-Q for the quarter ended September 30, 2006, filed on November
8, 2006; and</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
description of the registrant&#146;s Common Stock contained in the registrant&#146;s
registration statement on Form 8-A filed with the Commission on January 29,
1997, including any amendment or reports filed for the purpose of updating such
description.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, all documents subsequently filed by the registrant
pursuant to Section #&#146;s 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 which indicates that all securities offered have been
sold or which deregisters all securities then remaining unsold, will be
incorporated by reference into this registration statement from the date of
filing of such documents.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded
for the purposes of this registration statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or
deemed to be incorporated by reference herein modifies or supersedes such
statement. Any statement so modified or superseded shall not be deemed, except
as so modified or superseded, to constitute a part of this registration
statement.</font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 4.&#160;&#160;&#160; &#160;
Description of Securities</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not applicable.</font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 5.&#160;&#160;&#160; &#160;
Interests of Named Experts and Counsel</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not applicable.</font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 6.&#160;&#160;&#160; &#160;
Indemnification of Director and Officers</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sections 204(a)(10), 204(a)(11), 204.5 and 317 of the California
General Corporation Law, or CGCL, permit a corporation to indemnify its
directors, officers, employees and other agents in terms sufficiently broad to
permit indemnification (including reimbursement for expenses) under certain
circumstances for liabilities arising under the Securities Act of 1933.&#160; The registrant&#146;s Amended and Restated
Articles of Incorporation provide that the liability of directors for monetary
damages shall be eliminated to the fullest extent permitted under California
law. In addition, the registrant&#146;s Amended and Restated Articles of
Incorporation provide that the registrant is authorized to provide
indemnification of its directors, officers, employees and agents in excess of
the indemnification otherwise permitted by Section 317 of the CGCL, subject
only to the applicable limits set forth in Section 204 of the CGCL with respect
to actions for breach of duty to the registrant or its shareholders.</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The registrant&#146;s Amended
and Restated Bylaws provide that, to the maximum extent permitted by the CGCL,
the registrant shall indemnify each of its directors and officers against
expenses, judgments, fines, settlements and other amounts actually and
reasonably incurred in connection with any proceedings arising by</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-</font><font face="Times New Roman">1</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">reason of the fact that any such person is or was a
director or officer of the registrant. The registrant&#146;s Amended and Restated
Bylaws also provide that the registrant shall advance to each director or
officer expenses incurred in defending any such proceeding to the maximum
extent permitted by the CGCL. In addition, the registrant&#146;s Amended and
Restated Bylaws provide that the board of directors may in its discretion
provide by resolution for indemnification of, or advance of expenses to, other
agents.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The registrant has entered into indemnification agreements with its
directors and executive officers, in addition to the indemnification provided
for in the Amended and Restated Articles of Incorporation and the Amended and
Restated Bylaws. These indemnification agreements provide for indemnification
to the fullest extent permitted by law, and set forth specific procedures to be
followed when indemnification is sought.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The registrant currently maintains directors&#146; and officers&#146; liability
insurance to provide directors and officers with insurance coverage for losses
arising from claims based on breaches of duty, negligence, errors and other
wrongful acts.</font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 7.&#160;&#160;&#160; &#160;
Exemption from Registration Claimed.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not Applicable.</font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 8.&#160;&#160;&#160; &#160;
Exhibits</font></b></p>

<p style="font-family:Times New Roman;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Opinion of Sheppard, Mullin, Richter
&amp; Hampton LLP.</font></p>

<p style="font-family:Times New Roman;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Consent of Sheppard, Mullin, Richter
&amp; Hampton LLP (included in Exhibit 5.1).</font></p>

<p style="font-family:Times New Roman;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Consent of PricewaterhouseCoopers LLP,
Independent Registered Public Accounting Firm.</font></p>

<p style="font-family:Times New Roman;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Power of Attorney (set forth on the signature
page of this registration statement).</font></p>

<p style="font-family:Times New Roman;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Overland Storage, Inc. 2006 Employee
Stock Purchase Plan.</font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 9.&#160;&#160;&#160; &#160;
Undertakings.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
undersigned registrant hereby undertakes that it will:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; File,
during any period in which it offers or sells securities, a post-effective
amendment to this registration statement to:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Include
any prospectus required by Section 10(a)(3) of the Securities Act;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Reflect
in the prospectus any facts or events which, individually or in the aggregate,
represent a fundamental change in the information in the registration
statement.&#160; 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 percent change in the maximum aggregate
offering price set forth in the &#147;Calculation of Registration Fee&#148; table in the
effective registration statement; and</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Include
any additional or changed material information on the plan of distribution;</font></p>

<p style="font-family:Times New Roman;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">provided, however</font></i><font size="2" style="font-size:10.0pt;">, that the registrant does not make the undertakings
in paragraphs (a)(1)(i) and (a)(1)(ii) if the information required in a
post-effective amendment is incorporated by reference from periodic reports
filed by the registrant under the Exchange Act.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-</font><font face="Times New Roman">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For
determining liability under the Securities Act, treat each such post-effective
amendment as a new registration statement of the securities offered, and the
offering of the securities at that time to be the initial <i>bona fide </i>offering.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; File
a post-effective amendment for any of the securities being registered which
remain unsold at the termination of the offering.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; For
determining liability of the undersigned registrant under the Securities Act to
any purchaser in the initial distribution of the securities, the undersigned
registrant undertakes that in a primary offering of securities of the
undersigned registrant pursuant to this registration statement, regardless of
the underwriting method used to sell the securities to the purchaser, if the
securities are offered or sold to such purchaser by means of any of the
following communications, the undersigned registrant will be a seller to the
purchaser and will be considered to offer or sell such securities to such
purchaser:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any
preliminary prospectus or prospectus of the undersigned registrant relating to
the offering required to be filed pursuant to Rule 424;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any
free writing prospectus relating to the offering prepared by or on behalf of
the undersigned registrant or used or referred to by the undersigned
registrant;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
portion of any other free writing prospectus relating to the offering
containing material information about the undersigned registrant or its
securities provided by or on behalf of the undersigned registrant; and</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any
other communication that is an offer in the offering made by the undersigned
registrant to the purchaser.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160; 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 (and, where
applicable, each filing of an employee benefit plan&#146;s annual report pursuant to
Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by
reference in the registration statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial <i>bona fide </i>offering thereof.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-</font><font face="Times New Roman">3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></b></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160; 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 City of San Diego,
State of California, on this 1st day of December, 2006.</font></p>

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;font-family:Times New Roman;">
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlHTMLTableLeft --><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">OVERLAND STORAGE, INC.</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="21%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:21.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ SCOTT McCLENDON</font></p>
  </td>
  <td width="21%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:21.56%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:43.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Scott McClendon </font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.58%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:43.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interim President and Chief Executive Officer</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 24.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">POWER OF ATTORNEY</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each person whose signature appears below hereby constitutes and
appoints Scott McClendon, Interim President and Chief Executive Officer and
Vernon&nbsp;A. LoForti, Vice President, Chief Financial Officer and Secretary,
and each of them, the undersigned&#146;s true and lawful attorney-in-fact and agent,
with full power of substitution and resubstitution, for the undersigned and in
his name, place and stead, in any and all capacities (including the undersigned&#146;s
capacity as a director of Overland Storage, Inc.), to sign any or all
amendments (including post-effective amendments) to this registration
statement, and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorney-in-fact and agent full power and authority to do and perform
each and every act and thing requisite and necessary to be done in and about
the premises, as fully for all intents and purposes as he might or could do in
person, hereby ratifying and confirming all that said attorney-in-fact and
agent, or his substitute, acting alone, may lawfully do or cause to be done by virtue
hereof.</font></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the
requirements of the Securities Act of 1933, this registration statement has
been signed by the following persons in the capacities and on the date
indicated.</font></p>

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;font-family:Times New Roman;">
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><!-- SET mrlHTMLTableLeft --><!-- SET mrlNoTableShading -->Signature</p>
  </td>
  <td width="17" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="284" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Title(s)</font></b></p>
  </td>
  <td width="15" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="138" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Date</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="188" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:141.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="31" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:23.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="188" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:141.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ SCOTT
  McCLENDON</font></p>
  </td>
  <td width="31" valign="top" style="padding:0pt .7pt 0pt 0pt;width:23.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interim President, Chief Executive </font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 1, 2006</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Scott McClendon</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Officer and Director (Principal Executive Officer)</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="188" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:141.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ VERNON A.
  LoFORTI </font></p>
  </td>
  <td width="31" valign="top" style="padding:0pt .7pt 0pt 0pt;width:23.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President, Chief Financial </font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 1, 2006</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vernon A.
  LoForti</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Officer and Secretary (Principal Financial and
  Accounting Officer)</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="188" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:141.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ ROBERT A.
  DEGAN </font></p>
  </td>
  <td width="31" valign="top" style="padding:0pt .7pt 0pt 0pt;width:23.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 1, 2006</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert A. Degan</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="188" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:141.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ WILLIAM J.
  MILLER </font></p>
  </td>
  <td width="31" valign="top" style="padding:0pt .7pt 0pt 0pt;width:23.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 1, 2006</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">William J.
  Miller</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="188" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:141.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/MICHAEL
  NORKUS </font></p>
  </td>
  <td width="31" valign="top" style="padding:0pt .7pt 0pt 0pt;width:23.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 1, 2006</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Michael Norkus</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="188" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:141.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ MARK J.
  BARRENECHEA </font></p>
  </td>
  <td width="31" valign="top" style="padding:0pt .7pt 0pt 0pt;width:23.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">December 1, 2006</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="219" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:164.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mark J.
  Barrenechea</font></p>
  </td>
  <td width="17" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.6pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="284" valign="top" style="padding:0pt .7pt 0pt 0pt;width:213.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15" valign="top" style="padding:0pt .7pt 0pt 0pt;width:11.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="138" valign="top" style="padding:0pt .7pt 0pt 0pt;width:103.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-</font><font face="Times New Roman">4</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<br clear="all" style="page-break-before:always;">

<div style="font-family:Times New Roman;">
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">INDEX
TO EXHIBITS</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;">
 <tr style="page-break-inside:avoid;">
  <td width="33" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.0pt;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlHTMLTableLeft --><!-- SET mrlNoTableShading -->5.1</p>
  </td>
  <td width="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.15pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="630" valign="top" style="padding:0pt .7pt 0pt 0pt;width:472.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Sheppard, Mullin, Richter &amp; Hampton
  LLP.*</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="33" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.15pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="630" valign="top" style="padding:0pt .7pt 0pt 0pt;width:472.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="33" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.1</font></p>
  </td>
  <td width="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.15pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="630" valign="top" style="padding:0pt .7pt 0pt 0pt;width:472.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Sheppard, Mullin, Richter &amp; Hampton
  LLP (included in Exhibit 5.1).*</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="33" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.15pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="630" valign="top" style="padding:0pt .7pt 0pt 0pt;width:472.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="33" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.2</font></p>
  </td>
  <td width="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.15pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="630" valign="top" style="padding:0pt .7pt 0pt 0pt;width:472.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of PricewaterhouseCoopers LLP, Independent
  Registered Public Accounting Firm.*</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="33" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.15pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="630" valign="top" style="padding:0pt .7pt 0pt 0pt;width:472.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="33" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24.1</font></p>
  </td>
  <td width="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.15pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="630" valign="top" style="padding:0pt .7pt 0pt 0pt;width:472.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Power of Attorney (set forth on the signature page
  of this registration statement).*</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="33" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.15pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="630" valign="top" style="padding:0pt .7pt 0pt 0pt;width:472.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="33" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
  </td>
  <td width="8" valign="top" style="padding:0pt .7pt 0pt 0pt;width:6.15pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="630" valign="top" style="padding:0pt .7pt 0pt 0pt;width:472.7pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Overland Storage, Inc. 2006 Employee Stock Purchase
  Plan.*</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><hr size="1" width="160" noshade color="black" align="left" style="width:120.0pt;"></div>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Filed herewith.</font></p>



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</html>
[{"type": "S-8", "sequence": "1", "filename": "a06-24633_1s8.htm", "description": "SECURITIES TO BE OFFERED TO EMPLOYEES PURSUANT TO EMPLOYEE BENEFIT PLANS", "secsgml_size_bytes": 77383}]
{"company-data": {"conformed-name": "OVERLAND STORAGE INC", "cik": "0000889930", "assigned-sic": "3572", "irs-number": "953535285", "state-of-incorporation": "CA", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-139064", "film-number": "061250991"}, "business-address": {"street1": "4820 OVERLAND AVENUE", "city": "SAN DIEGO", "state": "CA", "zip": "92123", "phone": "8585715555"}, "mail-address": {"street1": "4820 OVERLAND AVENUE", "city": "SAN DIEGO", "state": "CA", "zip": "92123"}, "former-company": {"former-conformed-name": "OVERLAND DATA INC", "date-changed": "19961212"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM S-8
REGISTRATION
STATEMENT UNDER
THE SECURITIES ACT OF 1933
OVERLAND STORAGE, INC.
(Exact Name of Registrant as Specified in its Charter)
California
95-3535285
(State or Other
  Jurisdiction of Incorporation or Organization)
(I.R.S. Employer
  Identification No.)
4820 Overland Avenue, San Diego, CA 92123
(Address of Principal
Executive Offices)
2006 EMPLOYEE STOCK PURCHASE PLAN
(Full Title of the Plan)
Scott McClendon
Interim President and Chief Executive Officer
Overland Storage, Inc.
4820 Overland Avenue
San Diego, CA 92123
(Name and Address of Agent
For Service)
(858) 571-5555
(Telephone Number, Including
Area Code, of Agent For Service)
Copies to:
John J. Hentrich, Esq.
Sheppard, Mullin, Richter & Hampton LLP
12275 El Camino Real, Suite 200
San Diego, California 92130
Telephone: (858) 720-8900
Facsimile:
(858) 509-3691
CALCULATION
OF REGISTRATION FEE
Title of Securities to be Registered
Amount to be
Registered(1)
Proposed
Maximum
Offering Price
per Share
Proposed
Maximum
Aggregate
Offering
Price
Amount of
Registration
Fee
Common Stock, no par
  value
500,000
$
4.84
(2)
$
2,420,000
(2)
$
258.94
(1)
In accordance
with Rule 416 under the Securities Act of 1933, as amended, this registration
statement shall be deemed to cover any additional securities that may from time
to time be offered or issued to prevent dilution resulting from stock splits,
stock dividends or similar transactions.
(2)
Estimated solely for
the purpose of calculating the amount of the registration fee pursuant to Rule
457(h) of the Securities Act of 1933. The proposed maximum offering  price per share and proposed maximum
aggregate offering price are based upon the average of the high and low sales
price as reported on the NASDAQ Global Market on November 28, 2006.
PART I
INFORMATION REQUIRED IN
THE
SECTION 10(a) PROSPECTUS
As permitted by the rules of the Securities and Exchange Commission,
this registration statement omits the information specified in Part I of Form
S-8.  Document(s) containing the
information required by Part I of this registration statement will be sent or
given to participants in the plan subject to this registration statement as
specified by Rule 428(b)(1) under the Securities Act of 1933.  Such document(s) are not filed with the SEC
pursuant to Rule 424 under the Securities Act. 
Such document(s) and the documents incorporated by reference pursuant to
Item 3 of Part II of this registration statement, taken together, constitute a
prospectus that meets the requirements of Section 10(a) of the Securities Act.
I-
1
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.     
Incorporation of Documents by Reference
The following documents filed by the registrant with the Securities and
Exchange Commission are hereby incorporated by reference into this registration
statement:
(a)           Annual
report on Form 10-K for the fiscal year ended June 30, 2006, filed on
September 15, 2006;
(b)           Current
reports on Form 8-K filed with the Commission on July 28, 2006, October 5,
2006, and November 7, 2006;
(c)           Quarterly
report on Form 10-Q for the quarter ended September 30, 2006, filed on November
8, 2006; and
(d)           The
description of the registrant's Common Stock contained in the registrant's
registration statement on Form 8-A filed with the Commission on January 29,
1997, including any amendment or reports filed for the purpose of updating such
description.
In addition, all documents subsequently filed by the registrant
pursuant to Section #'s 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 which indicates that all securities offered have been
sold or which deregisters all securities then remaining unsold, will be
incorporated by reference into this registration statement from the date of
filing of such documents.
Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded
for the purposes of this registration statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or
deemed to be incorporated by reference herein modifies or supersedes such
statement. Any 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
Not applicable.
Item 5.     
Interests of Named Experts and Counsel
Not applicable.
Item 6.     
Indemnification of Director and Officers
Sections 204(a)(10), 204(a)(11), 204.5 and 317 of the California
General Corporation Law, or CGCL, permit a corporation to indemnify its
directors, officers, employees and other agents in terms sufficiently broad to
permit indemnification (including reimbursement for expenses) under certain
circumstances for liabilities arising under the Securities Act of 1933.  The registrant's Amended and Restated
Articles of Incorporation provide that the liability of directors for monetary
damages shall be eliminated to the fullest extent permitted under California
law. In addition, the registrant's Amended and Restated Articles of
Incorporation provide that the registrant is authorized to provide
indemnification of its directors, officers, employees and agents in excess of
the indemnification otherwise permitted by Section 317 of the CGCL, subject
only to the applicable limits set forth in Section 204 of the CGCL with respect
to actions for breach of duty to the registrant or its shareholders.
The registrant's Amended
and Restated Bylaws provide that, to the maximum extent permitted by the CGCL,
the registrant shall indemnify each of its directors and officers against
expenses, judgments, fines, settlements and other amounts actually and
reasonably incurred in connection with any proceedings arising by
II-
1
reason of the fact that any such person is or was a
director or officer of the registrant. The registrant's Amended and Restated
Bylaws also provide that the registrant shall advance to each director or
officer expenses incurred in defending any such proceeding to the maximum
extent permitted by the CGCL. In addition, the registrant's Amended and
Restated Bylaws provide that the board of directors may in its discretion
provide by resolution for indemnification of, or advance of expenses to, other
agents.
The registrant has entered into indemnification agreements with its
directors and executive officers, in addition to the indemnification provided
for in the Amended and Restated Articles of Incorporation and the Amended and
Restated Bylaws. These indemnification agreements provide for indemnification
to the fullest extent permitted by law, and set forth specific procedures to be
followed when indemnification is sought.
The registrant currently maintains directors' and officers' liability
insurance to provide directors and officers with insurance coverage for losses
arising from claims based on breaches of duty, negligence, errors and other
wrongful acts.
Item 7.     
Exemption from Registration Claimed.
Not Applicable.
Item 8.     
Exhibits
5.1
Opinion of Sheppard, Mullin, Richter
& Hampton LLP.
23.1
Consent of Sheppard, Mullin, Richter
& Hampton LLP (included in Exhibit 5.1).
23.2
Consent of PricewaterhouseCoopers LLP,
Independent Registered Public Accounting Firm.
24.1
Power of Attorney (set forth on the signature
page of this registration statement).
99.1
Overland Storage, Inc. 2006 Employee
Stock Purchase Plan.
Item 9.     
Undertakings.
(a)           The
undersigned registrant hereby undertakes that it will:
(1)           File,
during any period in which it offers or sells securities, a post-effective
amendment to this registration statement to:
(i)            Include
any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)           Reflect
in the prospectus any facts or events which, individually or in the aggregate,
represent a fundamental change in the information 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 percent change in the maximum aggregate
offering price set forth in the "Calculation of Registration Fee" table in the
effective registration statement; and
(iii)          Include
any additional or changed material information on the plan of distribution;
provided, however
, that the registrant does not make the undertakings
in paragraphs (a)(1)(i) and (a)(1)(ii) if the information required in a
post-effective amendment is incorporated by reference from periodic reports
filed by the registrant under the Exchange Act.
II-
2
(2)           For
determining liability under the Securities Act, treat each such post-effective
amendment as a new registration statement of the securities offered, and the
offering of the securities at that time to be the initial
bona fide
offering.
(3)           File
a post-effective amendment for any of the securities being registered which
remain unsold at the termination of the offering.
(4)           For
determining liability of the undersigned registrant under the Securities Act to
any purchaser in the initial distribution of the securities, the undersigned
registrant undertakes that in a primary offering of securities of the
undersigned registrant pursuant to this registration statement, regardless of
the underwriting method used to sell the securities to the purchaser, if the
securities are offered or sold to such purchaser by means of any of the
following communications, the undersigned registrant will be a seller to the
purchaser and will be considered to offer or sell such securities to such
purchaser:
(i)            Any
preliminary prospectus or prospectus of the undersigned registrant relating to
the offering required to be filed pursuant to Rule 424;
(ii)           Any
free writing prospectus relating to the offering prepared by or on behalf of
the undersigned registrant or used or referred to by the undersigned
registrant;
(iii)          The
portion of any other free writing prospectus relating to the offering
containing material information about the undersigned registrant or its
securities provided by or on behalf of the undersigned registrant; and
(iv)          Any
other communication that is an offer in the offering made by the undersigned
registrant to the purchaser.
(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 (and, where
applicable, each filing of an employee benefit plan's annual report pursuant to
Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by
reference in the registration statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
II-
3
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 City of San Diego,
State of California, on this 1st day of December, 2006.
OVERLAND STORAGE, INC.
By:
/s/ SCOTT McCLENDON
Scott McClendon
Interim President and Chief Executive Officer
POWER OF ATTORNEY
Each person whose signature appears below hereby constitutes and
appoints Scott McClendon, Interim President and Chief Executive Officer and
Vernon A. LoForti, Vice President, Chief Financial Officer and Secretary,
and each of them, the undersigned's true and lawful attorney-in-fact and agent,
with full power of substitution and resubstitution, for the undersigned and in
his name, place and stead, in any and all capacities (including the undersigned's
capacity as a director of Overland Storage, Inc.), to sign any or all
amendments (including post-effective amendments) to this registration
statement, and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Securities and Exchange Commission, granting
unto said attorney-in-fact and agent full power and authority to do and perform
each and every act and thing requisite and necessary to be done in and about
the premises, as fully for all intents and purposes as he might or could do in
person, hereby ratifying and confirming all that said attorney-in-fact and
agent, or his substitute, acting alone, may lawfully do or cause to be done by virtue
hereof.
Pursuant to the
requirements of the Securities Act of 1933, this registration statement has
been signed by the following persons in the capacities and on the date
indicated.
Signature
Title(s)
Date
/s/ SCOTT
  McCLENDON
Interim President, Chief Executive
December 1, 2006
Scott McClendon
Officer and Director (Principal Executive Officer)
/s/ VERNON A.
  LoFORTI
Vice President, Chief Financial
December 1, 2006
Vernon A.
  LoForti
Officer and Secretary (Principal Financial and
  Accounting Officer)
/s/ ROBERT A.
  DEGAN
Director
December 1, 2006
Robert A. Degan
/s/ WILLIAM J.
  MILLER
Director
December 1, 2006
William J.
  Miller
/s/MICHAEL
  NORKUS
Director
December 1, 2006
Michael Norkus
/s/ MARK J.
  BARRENECHEA
Director
December 1, 2006
Mark J.
  Barrenechea
II-
4
INDEX
TO EXHIBITS
5.1
Opinion of Sheppard, Mullin, Richter & Hampton
  LLP.*
23.1
Consent of Sheppard, Mullin, Richter & Hampton
  LLP (included in Exhibit 5.1).*
23.2
Consent of PricewaterhouseCoopers LLP, Independent
  Registered Public Accounting Firm.*
24.1
Power of Attorney (set forth on the signature page
  of this registration statement).*
99.1
Overland Storage, Inc. 2006 Employee Stock Purchase
  Plan.*
*                  Filed herewith.