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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>As
  filed with the United States Securities and Exchange Commission on July 29, 2016</B></FONT>&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Registration
  No. 333-________</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>
  
  <!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITED
  STATES</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
  AND EXCHANGE COMMISSION</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Washington,
  D.C. 20549</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
  
  <!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
  S-8</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">REGISTRATION
  STATEMENT</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UNDER
  THE SECURITIES ACT OF 1933</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
  <!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>LINDBLAD
  EXPEDITIONS HOLDINGS, INC.</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Exact
  name of Registrant as specified in its charter)</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 49%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
      <TD STYLE="vertical-align: top; width: 2%; padding-bottom: 1.5pt; text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; width: 49%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>27-4749725</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State
      or other jurisdiction of <BR>
  incorporation or organization)</FONT></TD>
      <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S.
      Employer <BR>
      Identification No.)</FONT></TD></TR>
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>96
      Morton Street, 9th Floor, New York, New York</B></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10014</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address
      of principal executive offices)</FONT></TD>
      <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Zip
      Code)</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LINDBLAD
  EXPEDITIONS HOLDINGS, INC. 2016 CEO SHARE ALLOCATION PLAN</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Full
  title of the plans)</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Sven-Olof
  Lindblad</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>President
  and Chief Executive Officer </B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Lindblad
  Expeditions Holdings, Inc.</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>96
  Morton Street, 9th Floor</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New
  York, New York 10014</B><BR>
  <B>(212) 261-9000</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name,
  address and telephone number of agent for service)</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
  <!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 23%; padding-left: 5.4pt; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large
      accelerated filer&nbsp;&nbsp;&#9744;</FONT></TD>
      <TD STYLE="width: 23%; padding-left: 5.4pt; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated
      filer &nbsp;&#9746;</FONT></TD>
      <TD STYLE="width: 23%; padding-left: 5.4pt; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated
      filer &nbsp;&#9744;</FONT></TD>
      <TD STYLE="width: 31%; padding-left: 5.4pt; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller
      reporting company&nbsp; &#9744;</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
  
  <!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CALCULATION
  OF REGISTRATION FEE</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
      <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid">Title of <BR> Securities to be Registered</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
      <TD STYLE="text-align: center; border-bottom: Black 1.5pt solid">Amount <BR>
  to be <BR>
  Registered (1)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Proposed<BR>
  Maximum&nbsp;<BR>
  Offering Price<BR>
  Per Share</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Proposed<BR>
  Maximum<BR>
  Aggregate<BR>
  Offering<BR>
  Price</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
      <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">Amount of<BR>
  Registration&nbsp;<BR>
  Fee</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
      <TD STYLE="width: 52%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 11%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
      <TD>Common Stock $0.0001 par value</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: center">1,000,000&nbsp;shares</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9.80</TD><TD STYLE="text-align: left">(2)</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,800,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
      <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">986.86</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
      <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
      amount to be registered consists of 1,000,000 shares of Common Stock (the &ldquo;Common Stock&rdquo;) of Lindblad Expeditions
      Holdings, Inc. to be issued pursuant to the grant of awards to participants under the Lindblad Expeditions Holdings, Inc.
      2016 CEO Share Allocation Plan (the &ldquo;Plan&rdquo;). Pursuant to Rule 416 under the Securities Act of 1933, as amended
      (the &ldquo;Securities Act&rdquo;), this registration statement also covers an indeterminate number of additional shares of
      Common Stock that may become issuable in accordance with the adjustment and anti-dilution provisions of the Plan.</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
      <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Determined
      in accordance with Rules 457(c) and 457(h) under the Securities Act, the registration fee calculation is based on the average
      of the high and low prices of the Common Stock as reported on the NASDAQ Capital Market on July 26, 2016.</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
  
  <!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
  
  <!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
  
  <!-- Field: Page; Sequence: 1 -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid">&nbsp;</DIV>
      <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>
  
  
  
  
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXPLANATORY
  NOTE</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
  April 8, 2016, the Board of Directors of Lindblad Expeditions Holdings, Inc. adopted the Plan and on June 2, 2016, stockholders
  voted to approve the Plan, which authorized the issuance of a total of 1,000,000 shares of Common Stock. This Registration Statement
  on Form S-8 is being filed in order to register the 1,000,000 shares of Common Stock which may be issued to participants under
  the Plan.&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
  <!-- Field: Page; Sequence: 2 -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PART
  I</B><BR>
  <BR>
  <B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
  documents constituting Part I of this registration statement (this &ldquo;Registration Statement&rdquo;) will be sent or given
  to participants in the Plan as provided by Rule 428(b)(1) under the Securities Act.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
  <!-- Field: Page; Sequence: 3 -->
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      <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PART
  II</B><BR>
  <BR>
  <B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 48px; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
      3.</B></FONT></TD>
      <TD STYLE="text-decoration: underline; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Incorporation
      of Documents by Reference</U></B>.</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
  following documents, filed by Lindblad Expeditions Holdings, Inc. (the &ldquo;Registrant&rdquo;) with the Securities and Exchange
  Commission (the &ldquo;Commission&rdquo;) pursuant to the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;),
  are incorporated herein by reference and deemed to be a part hereof:</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
  <TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                           Registrant&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2015, filed
                                           with the Commission on March 14, 2016;</FONT></TD></TR></TABLE>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
  <TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                           Registrant&rsquo;s Definitive Proxy Statement filed with the Commission on April 15,
                                           2016;</FONT></TD></TR></TABLE>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
  <TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                           Registrant&rsquo;s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016,
                                           filed with the Commission on May 9, 2016;</FONT></TD></TR></TABLE>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
  <TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                           Registrant&rsquo;s Current Reports on Form 8-K filed with the Commission on March 11,
                                           2016 (dated March 7, 2016); May 2, 2016; May 3, 2016 (excluding Item 7.01 and the related
                                           exhibit); May 5, 2016 (excluding Item 7.01 and the related exhibits); June 3, 2016; and
                                           July 27, 2016 (excluding Item 7.01 and the related exhibit); and</FONT></TD></TR></TABLE>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
  <TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                           description of the Registrant&rsquo;s common stock contained in or incorporated into
                                           the Registrant&rsquo;s Registration Statement on Form 8-A, filed April 29, 2013, and
                                           any amendment or report updating that description.</FONT></TD></TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
  other documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, after
  the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities
  offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by
  reference herein and to be a part hereof from the date of the filing of such documents, except as to any portion of any Current
  Report furnished under Items 2.02 or 7.01 of Form 8-K that is not deemed filed under such provisions.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
  statement contained in a document incorporated or deemed incorporated herein by reference shall be deemed to be modified or superseded
  for the purpose of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document
  which also is, or is deemed to be, 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.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 48px; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
      4.</B></FONT></TD>
      <TD STYLE="text-decoration: underline; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Description
      of Securities</U></B>.</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
  applicable.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 48px; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
      5.</B></FONT></TD>
      <TD STYLE="text-decoration: underline; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Interests
      of Named Experts and Counsel</U></B>.</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">None.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>
  
  <!-- Field: Page; Sequence: 4; Options: NewSection; Value: 1 -->
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      <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 48px; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
      6.</B></FONT></TD>
      <TD STYLE="text-decoration: underline; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Indemnification
      of Directors and Officers</U></B>.</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsection
  (a) of Section 145 of the General Corporation Law of the State of Delaware, or the DGCL, empowers a corporation to indemnify any
  person who was or is a party or who is threatened to be made a party to any threatened, pending or completed action, suit or proceeding,
  whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason
  of the fact that the person is or was a director, officer, employee or agent of the corporation, or 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, against expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably
  incurred by the person in connection with such action, suit or proceeding if the person acted in good faith and in a manner the
  person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal
  action or proceeding, had no reasonable cause to believe the person&rsquo;s conduct was unlawful.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsection
  (b) of Section 145 empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to
  any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by
  reason of the fact that the person acted in any of the capacities set forth above, against expenses (including attorneys&rsquo;
  fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the
  person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the
  corporation, except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall
  have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or the court in which
  such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all
  the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of
  Chancery or such other court shall deem proper.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
  145 further provides that to the extent a director or officer of a corporation has been successful on the merits or otherwise
  in the defense of any action, suit or proceeding referred to in subsections (a) and (b) of Section 145, or in defense of any claim,
  issue or matter therein, such person shall be indemnified against expenses (including attorneys&rsquo; fees) actually and reasonably
  incurred by such person in connection therewith; that indemnification provided for by Section 145 shall not be deemed exclusive
  of any other rights to which the indemnified party may be entitled; and the indemnification provided for by Section 145 shall,
  unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee
  or agent and shall inure to the benefit of such person&rsquo;s heirs, executors and administrators. Section 145 also empowers
  the corporation to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent
  of the corporation, or 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 against any liability asserted against such person and incurred
  by such person in any such capacity, or arising out of his status as such, whether or not the corporation would have the power
  to indemnify such person against such liabilities under Section 145.&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Section
  102(b)(7) of the DGCL provides that a corporation&rsquo;s certificate of incorporation may contain a provision eliminating or
  limiting the personal liability of a director to the corporation or its stockholders for monetary damages for breach of fiduciary
  duty as a director, provided that such provision shall not eliminate or limit the liability of a director (i) for any breach of
  the director&rsquo;s duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which
  involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the DGCL, or (iv) for any transaction
  from which the director derived an improper personal benefit.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
  Registrant&rsquo;s Second Amended and Restated Certificate of Incorporation provides that all directors, officers, employees and
  agents of the registrant shall be entitled to be indemnified by the Registrant to the fullest extent permitted by Section 145
  of the Delaware General Corporation Law.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paragraph
  B of Article Eighth of the Registrant&rsquo;s Second Amended and Restated Certificate of Incorporation provides:</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;The
  Corporation, to the full extent permitted by Section 145 of the DGCL, as amended from time to time, shall indemnify all persons
  whom it may indemnify pursuant thereto. Expenses (including attorneys&rsquo; fees) incurred by an officer or director in defending
  any civil, criminal, administrative, or investigative action, suit or proceeding for which such officer or director may be entitled
  to indemnification hereunder shall be paid by the Corporation in advance of the final disposition of such action, suit or proceeding
  upon receipt of an undertaking by or on behalf of such director or officer to repay such amount if it shall ultimately be determined
  that he is not entitled to be indemnified by the Corporation as authorized hereby.&rdquo;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>
  
  <!-- Field: Page; Sequence: 5; Value: 1 -->
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      <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
  Registrant has purchased directors and officers liability insurance that would indemnify its directors and officers against damages
  arising out of certain kinds of claims that might be made against them based on their negligent acts or omissions while acting
  in their capacity as such.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
  Registrant&rsquo;s agreements with Sven-Olof Lindblad, Ian Rogers, Trey Byus, John McClain, Tyler Skarda Philip Auerbach, and
  Ben Bressler each provide that the Registrant or its subsidiaries shall indemnify the executive to the fullest extent permitted
  by the laws of the State of Delaware against all damages, costs, expenses and other liabilities reasonably incurred or sustained
  in connection with any suit, action or proceeding the executive may be made a party by reason of being or having been a director
  or officer of the company or any of its subsidiaries, or having served in any other capacity or taken any other action purportedly
  on behalf of or at the request of the company or any of its subsidiaries.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 48px; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
      7.</B></FONT></TD>
      <TD STYLE="text-decoration: underline; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Exemption
      from Registration Claimed</U></B>.</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
  applicable.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 48px; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
      8. </B></FONT></TD>
      <TD STYLE="text-decoration: underline; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Exhibits</U></B>.</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
  exhibits filed herewith or incorporated herein by reference are set forth in the attached Exhibit Index.&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 48px; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
      9. </B></FONT></TD>
      <TD STYLE="text-decoration: underline; text-align: justify; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Undertakings</U></B>.</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  undersigned Registrant hereby undertakes:</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
  file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
  include any prospectus required by Section 10(a)(3) of the Securities Act;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
  reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent
  post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
  forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
  the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
  end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
  424(b) of the Securities Act if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum
  aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement;
  and</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
  include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement
  or any material change to such information in the Registration Statement; </FONT><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 13 or Section 15(d) of the Exchange
  Act that are incorporated by reference in the Registration Statement.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
  for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
  a new registration statement relating to the securities offered herein, and the offering of such securities at that time shall
  be deemed to be the initial bona fide offering thereof.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
  remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at
  the termination of the offering.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
  
  <!-- Field: Page; Sequence: 6; Value: 1 -->
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
  undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
  of the Registrant&rsquo;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by
  reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered
  herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
  as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons
  of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
  Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred
  or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding)
  is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant
  will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
  jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will
  be governed by the final adjudication of such issue.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>
  
  <!-- Field: Page; Sequence: 7; Value: 1 -->
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      <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>
  
  
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>SIGNATURES</U></B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
  to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it
  meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf
  by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on July 29, 2016.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LINDBLAD
      EXPEDITIONS HOLDINGS, INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 60%; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 4%; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 36%; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
      <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
      Sven-Olof Lindblad</FONT></TD></TR>
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sven-Olof
      Lindblad</FONT></TD></TR>
  <TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
      Executive Officer and President</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
  to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the
  capacities indicated below. Each person whose signature appears below constitutes and appoints Sven-Olof Lindblad and Ian Rogers,
  and each of them individually, his or her true and lawful attorney-in-fact and agent, with full power of substitution and revocation,
  for him or her and in his or her name, place and stead, in any and all capacities, to sign any and 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 attorneys-in-fact and agents, and each of them, full
  power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith,
  as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact
  and agents, or either of them, may lawfully do or cause to be done by virtue hereof.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: black 1.5pt solid; padding: 0; text-align: center; text-indent: 0; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature</B></FONT></TD>
      <TD STYLE="text-align: center; padding: 0; text-indent: 0; width: 2%">&nbsp;</TD>
      <TD STYLE="border-bottom: black 1.5pt solid; padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD>
      <TD STYLE="text-align: center; padding: 0; text-indent: 0; width: 2%">&nbsp;</TD>
      <TD STYLE="border-bottom: black 1.5pt solid; padding: 0; text-align: center; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="text-align: center; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: black 1.5pt solid; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Sven-Olof Lindblad </FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD ROWSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer, President and Director<BR>
   (Principal Executive Officer) &nbsp;</FONT></TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 29, 2016</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sven-Olof Lindblad</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: black 1.5pt solid; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ John T. McClain</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD ROWSPAN="2" STYLE="padding: 0; text-indent: 0">
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chief Financial Officer</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(Principal Financial and Accounting Officer) &nbsp;</P></TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 29, 2016</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">John T. McClain</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: black 1.5pt solid; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Mark D. Ein </FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD ROWSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board &nbsp;</FONT></TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 29, 2016</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mark D. Ein</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: black 1.5pt solid; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Bernard W. Aronson</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD ROWSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director &nbsp;</FONT></TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 29, 2016</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bernard W. Aronson</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: black 1.5pt solid; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Paul J. Brown</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD ROWSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director &nbsp;</FONT></TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 29, 2016</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul J. Brown</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: black 1.5pt solid; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ L. Dyson Dryden</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD ROWSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director &nbsp;</FONT></TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 29, 2016</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">L. Dyson Dryden</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: black 1.5pt solid; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ John M. Fahey Jr.</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD ROWSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director </FONT></TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 29, 2016</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">John M. Fahey Jr.</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR>
      <TD STYLE="vertical-align: top; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="vertical-align: top; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="vertical-align: top; padding: 0; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: black 1.5pt solid; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Catherine B. Reynolds</FONT></TD>
      <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director </FONT></TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 29, 2016</FONT></TD></TR>
  <TR>
      <TD STYLE="vertical-align: top; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Catherine B. Reynolds</FONT></TD>
      <TD STYLE="vertical-align: top; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD>
      <TD STYLE="vertical-align: top; padding: 0; text-align: center">&nbsp;</TD></TR>
  </TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>EXHIBIT
  INDEX</U></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="width: 9%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
      No.</B></FONT></TD>
      <TD STYLE="width: 1%; padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD>
      <TD STYLE="width: 1%; padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 11%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Included</B></FONT></TD>
      <TD STYLE="width: 1%; padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 10%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Form</B></FONT></TD>
      <TD STYLE="width: 1%; padding: 0; font: 10pt Times New Roman, Times, Serif; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 13%; border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Filing
      Date</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
      <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second
      Amended and Restated Certificate of Incorporation.</FONT></TD>
      <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
      Reference</FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DEFM
      14-A</FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June
      24, 2015</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bylaws.</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
      Reference</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-1</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February&nbsp;15,&nbsp;2011</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen
      Common Stock Certificate.</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
      Reference</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8-K</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July
      10, 2015</FONT></TD></TR>
  <TR STYLE="background-color: White; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion
      of Latham &amp; Watkins LLP. </FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Herewith</FONT></TD>
      <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
      of Latham &amp; Watkins LLP (included in Exhibit 5.1).</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Herewith</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
      of Marcum LLP.</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Herewith</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Powers
      of Attorney (included on the signature page to this Registration Statement).</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Herewith</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White; font: 10pt Times New Roman, Times, Serif">
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lindblad
      Expeditions Holdings, Inc. 2016 CEO Share Allocation Plan.</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
      Reference</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DEF
      14-A</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April
      15, 2016</FONT></TD></TR>
  </TABLE>
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metadata_documents: [{"type": "S-8", "sequence": "1", "filename": "fs82016_lindbladexpeditions.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 99243}]
metadata_filer: {"company-data": {"conformed-name": "LINDBLAD EXPEDITIONS HOLDINGS, INC.", "cik": "0001512499", "assigned-sic": "4700", "irs-number": "274749725", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-212741", "film-number": "161792034"}, "business-address": {"street1": "96 MORTON STREET", "street2": "9TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10014", "phone": "212-261-9000"}, "mail-address": {"street1": "96 MORTON STREET", "street2": "9TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10014"}, "former-company": {"former-conformed-name": "Capitol Acquisition Corp. II", "date-changed": "20110208"}}
text: As
  filed with the United States Securities and Exchange Commission on July 29, 2016
  Registration
  No. 333-________
  UNITED
  STATES
  SECURITIES
  AND EXCHANGE COMMISSION
  Washington,
  D.C. 20549
  FORM
  S-8
  REGISTRATION
  STATEMENT
  UNDER
  THE SECURITIES ACT OF 1933
  LINDBLAD
  EXPEDITIONS HOLDINGS, INC.
  (Exact
  name of Registrant as specified in its charter)
  Delaware
  27-4749725
  (State
      or other jurisdiction of
  incorporation or organization)
  (I.R.S.
      Employer
  Identification No.)
  96
      Morton Street, 9th Floor, New York, New York
  10014
  (Address
      of principal executive offices)
  (Zip
      Code)
  LINDBLAD
  EXPEDITIONS HOLDINGS, INC. 2016 CEO SHARE ALLOCATION PLAN
  (Full
  title of the plans)
  Sven-Olof
  Lindblad
  President
  and Chief Executive Officer
  Lindblad
  Expeditions Holdings, Inc.
  96
  Morton Street, 9th Floor
  New
  York, New York 10014
  (212) 261-9000
  (Name,
  address and telephone number of agent for service)
  Large
      accelerated filer  ☐
  Accelerated
      filer  ☒
  Non-accelerated
      filer  ☐
  Smaller
      reporting company  ☐
  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 $0.0001 par value
  1,000,000 shares
  $
  9.80
  (2)
  $
  9,800,000
  $
  986.86
  (1)
  The
      amount to be registered consists of 1,000,000 shares of Common Stock (the "Common Stock") of Lindblad Expeditions
      Holdings, Inc. to be issued pursuant to the grant of awards to participants under the Lindblad Expeditions Holdings, Inc.
      2016 CEO Share Allocation Plan (the "Plan"). Pursuant to Rule 416 under the Securities Act of 1933, as amended
      (the "Securities Act"), this registration statement also covers an indeterminate number of additional shares of
      Common Stock that may become issuable in accordance with the adjustment and anti-dilution provisions of the Plan.
  (2)
  Determined
      in accordance with Rules 457(c) and 457(h) under the Securities Act, the registration fee calculation is based on the average
      of the high and low prices of the Common Stock as reported on the NASDAQ Capital Market on July 26, 2016.
  EXPLANATORY
  NOTE
  On
  April 8, 2016, the Board of Directors of Lindblad Expeditions Holdings, Inc. adopted the Plan and on June 2, 2016, stockholders
  voted to approve the Plan, which authorized the issuance of a total of 1,000,000 shares of Common Stock. This Registration Statement
  on Form S-8 is being filed in order to register the 1,000,000 shares of Common Stock which may be issued to participants under
  the Plan.
  PART
  I
  INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
  The
  documents constituting Part I of this registration statement (this "Registration Statement") will be sent or given
  to participants in the Plan as provided by Rule 428(b)(1) under the Securities Act.
  PART
  II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item
      3.
  Incorporation
      of Documents by Reference
  .
  The
  following documents, filed by Lindblad Expeditions Holdings, Inc. (the "Registrant") with the Securities and Exchange
  Commission (the "Commission") pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
  are incorporated herein by reference and deemed to be a part hereof:
  ●
  The
                                           Registrant's Annual Report on Form 10-K for the year ended December 31, 2015, filed
                                           with the Commission on March 14, 2016;
  ●
  The
                                           Registrant's Definitive Proxy Statement filed with the Commission on April 15,
                                           2016;
  ●
  The
                                           Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2016,
                                           filed with the Commission on May 9, 2016;
  ●
  The
                                           Registrant's Current Reports on Form 8-K filed with the Commission on March 11,
                                           2016 (dated March 7, 2016); May 2, 2016; May 3, 2016 (excluding Item 7.01 and the related
                                           exhibit); May 5, 2016 (excluding Item 7.01 and the related exhibits); June 3, 2016; and
                                           July 27, 2016 (excluding Item 7.01 and the related exhibit); and
  ●
  The
                                           description of the Registrant's common stock contained in or incorporated into
                                           the Registrant's Registration Statement on Form 8-A, filed April 29, 2013, and
                                           any amendment or report updating that description.
  All
  other documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, after
  the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities
  offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by
  reference herein and to be a part hereof from the date of the filing of such documents, except as to any portion of any Current
  Report furnished under Items 2.02 or 7.01 of Form 8-K that is not deemed filed under such provisions.
  Any
  statement contained in a document incorporated or deemed incorporated herein by reference shall be deemed to be modified or superseded
  for the purpose of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document
  which also is, or is deemed to be, 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
  .
  Not
  applicable.
  Item
      5.
  Interests
      of Named Experts and Counsel
  .
  None.
  II-
  1
  Item
      6.
  Indemnification
      of Directors and Officers
  .
  Subsection
  (a) of Section 145 of the General Corporation Law of the State of Delaware, or the DGCL, empowers a corporation to indemnify any
  person who was or is a party or who is threatened to be made a party to any threatened, pending or completed action, suit or proceeding,
  whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason
  of the fact that the person is or was a director, officer, employee or agent of the corporation, or 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, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably
  incurred by the person in connection with such action, suit or proceeding if the person acted in good faith and in a manner the
  person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal
  action or proceeding, had no reasonable cause to believe the person's conduct was unlawful.
  Subsection
  (b) of Section 145 empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to
  any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by
  reason of the fact that the person acted in any of the capacities set forth above, against expenses (including attorneys'
  fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the
  person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the
  corporation, except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall
  have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or the court in which
  such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all
  the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of
  Chancery or such other court shall deem proper.
  Section
  145 further provides that to the extent a director or officer of a corporation has been successful on the merits or otherwise
  in the defense of any action, suit or proceeding referred to in subsections (a) and (b) of Section 145, or in defense of any claim,
  issue or matter therein, such person shall be indemnified against expenses (including attorneys' fees) actually and reasonably
  incurred by such person in connection therewith; that indemnification provided for by Section 145 shall not be deemed exclusive
  of any other rights to which the indemnified party may be entitled; and the indemnification provided for by Section 145 shall,
  unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee
  or agent and shall inure to the benefit of such person's heirs, executors and administrators. Section 145 also empowers
  the corporation to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent
  of the corporation, or 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 against any liability asserted against such person and incurred
  by such person in any such capacity, or arising out of his status as such, whether or not the corporation would have the power
  to indemnify such person against such liabilities under Section 145.
  Section
  102(b)(7) of the DGCL provides that a corporation's certificate of incorporation may contain a provision eliminating or
  limiting the personal liability of a director to the corporation or its stockholders for monetary damages for breach of fiduciary
  duty as a director, provided that such provision shall not eliminate or limit the liability of a director (i) for any breach of
  the director's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which
  involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the DGCL, or (iv) for any transaction
  from which the director derived an improper personal benefit.
  The
  Registrant's Second Amended and Restated Certificate of Incorporation provides that all directors, officers, employees and
  agents of the registrant shall be entitled to be indemnified by the Registrant to the fullest extent permitted by Section 145
  of the Delaware General Corporation Law.
  Paragraph
  B of Article Eighth of the Registrant's Second Amended and Restated Certificate of Incorporation provides:
  "The
  Corporation, to the full extent permitted by Section 145 of the DGCL, as amended from time to time, shall indemnify all persons
  whom it may indemnify pursuant thereto. Expenses (including attorneys' fees) incurred by an officer or director in defending
  any civil, criminal, administrative, or investigative action, suit or proceeding for which such officer or director may be entitled
  to indemnification hereunder shall be paid by the Corporation in advance of the final disposition of such action, suit or proceeding
  upon receipt of an undertaking by or on behalf of such director or officer to repay such amount if it shall ultimately be determined
  that he is not entitled to be indemnified by the Corporation as authorized hereby."
  II-
  2
  The
  Registrant has purchased directors and officers liability insurance that would indemnify its directors and officers against damages
  arising out of certain kinds of claims that might be made against them based on their negligent acts or omissions while acting
  in their capacity as such.
  The
  Registrant's agreements with Sven-Olof Lindblad, Ian Rogers, Trey Byus, John McClain, Tyler Skarda Philip Auerbach, and
  Ben Bressler each provide that the Registrant or its subsidiaries shall indemnify the executive to the fullest extent permitted
  by the laws of the State of Delaware against all damages, costs, expenses and other liabilities reasonably incurred or sustained
  in connection with any suit, action or proceeding the executive may be made a party by reason of being or having been a director
  or officer of the company or any of its subsidiaries, or having served in any other capacity or taken any other action purportedly
  on behalf of or at the request of the company or any of its subsidiaries.
  Item
      7.
  Exemption
      from Registration Claimed
  .
  Not
  applicable.
  Item
      8.
  Exhibits
  .
  The
  exhibits filed herewith or incorporated herein by reference are set forth in the attached Exhibit Index.
  Item
      9.
  Undertakings
  .
  (a)          The
  undersigned Registrant hereby undertakes:
  (1)          To
  file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
  (i)        To
  include any prospectus required by Section 10(a)(3) of the Securities Act;
  (ii)       To
  reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent
  post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
  forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
  the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
  end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
  424(b) of the Securities Act if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum
  aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;
  and
  (iii)      To
  include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement
  or any material change to such information in the Registration Statement;
  provided, however
  , that paragraphs (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 Exchange
  Act that are incorporated by reference in the Registration Statement.
  (2)          That,
  for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be
  a new registration statement relating to the securities offered herein, 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.
  II-
  3
  (b)         The
  undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing
  of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by
  reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered
  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 may be permitted to directors, officers and controlling persons
  of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
  Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred
  or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding)
  is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant
  will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
  jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will
  be governed by the final adjudication of such issue.
  II-
  4
  SIGNATURES
  Pursuant
  to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it
  meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf
  by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on July 29, 2016.
  LINDBLAD
      EXPEDITIONS HOLDINGS, INC.
  By:
  /s/
      Sven-Olof Lindblad
  Sven-Olof
      Lindblad
  Chief
      Executive Officer and President
  Pursuant
  to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the
  capacities indicated below. Each person whose signature appears below constitutes and appoints Sven-Olof Lindblad and Ian Rogers,
  and each of them individually, his or her true and lawful attorney-in-fact and agent, with full power of substitution and revocation,
  for him or her and in his or her name, place and stead, in any and all capacities, to sign any and 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 attorneys-in-fact and agents, and each of them, full
  power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith,
  as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact
  and agents, or either of them, may lawfully do or cause to be done by virtue hereof.
  Signature
  Title
  Date
  /s/ Sven-Olof Lindblad
  Chief Executive Officer, President and Director
  (Principal Executive Officer)
  July 29, 2016
  Sven-Olof Lindblad
  /s/ John T. McClain
  Chief Financial Officer
  (Principal Financial and Accounting Officer)
  July 29, 2016
  John T. McClain
  /s/ Mark D. Ein
  Chairman of the Board
  July 29, 2016
  Mark D. Ein
  /s/ Bernard W. Aronson
  Director
  July 29, 2016
  Bernard W. Aronson
  /s/ Paul J. Brown
  Director
  July 29, 2016
  Paul J. Brown
  /s/ L. Dyson Dryden
  Director
  July 29, 2016
  L. Dyson Dryden
  /s/ John M. Fahey Jr.
  Director
  July 29, 2016
  John M. Fahey Jr.
  /s/ Catherine B. Reynolds
  Director
  July 29, 2016
  Catherine B. Reynolds
  II-
  5
  EXHIBIT
  INDEX
  Exhibit
      No.
  Description
  Included
  Form
  Filing
      Date
  4.1
  Second
      Amended and Restated Certificate of Incorporation.
  By
      Reference
  DEFM
      14-A
  June
      24, 2015
  4.2
  Bylaws.
  By
      Reference
  S-1
  February 15, 2011
  4.3
  Specimen
      Common Stock Certificate.
  By
      Reference
  8-K
  July
      10, 2015
  5.1
  Opinion
      of Latham & Watkins LLP.
  Herewith
  23.1
  Consent
      of Latham & Watkins LLP (included in Exhibit 5.1).
  Herewith
  23.2
  Consent
      of Marcum LLP.
  Herewith
  24
  Powers
      of Attorney (included on the signature page to this Registration Statement).
  Herewith
  99.1
  Lindblad
      Expeditions Holdings, Inc. 2016 CEO Share Allocation Plan.
  By
      Reference
  DEF
      14-A
  April
      15, 2016
  II-
  6