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<DIV style="DISPLAY: block; MARGIN-LEFT: 90pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 10.25pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">As filed with the Securities and Exchange Commission on November 21, 2003</FONT> </DIV>
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<DIV>&nbsp;</DIV><BR></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 19.35pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, serif">SECURITIES AND EXCHANGE COMMISSION</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><U>Washington, D.C. 20549</U></FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 19.35pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, serif">FORM S-8</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 17.05pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman, serif">REGISTRATION STATEMENT</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">The Securities Act of 1933</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 19.35pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, serif">ECHELON CORPORATION</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 9.1pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif">(Exact name of Registrant as specified in its charter)</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Delaware</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">77-0203595</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 9.1pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif">(State or other jurisdiction of</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 9.1pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif">incorporation or organization)</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 9.1pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif">(I.R.S. Employer Identification Number)</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">550 Meridian Avenue</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">San Jose, California 95126</FONT> </DIV></TD>
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<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif"><U>(Address of principal executive offices)</U></FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">1997 Stock Plan</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">1998 Director Option Plan</FONT> </DIV></TD></TR>
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<DIV><U><FONT style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Full titles of the plans)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;</U></DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">M. Kenneth Oshman</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Chairman of the Board and Chief Executive Officer</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">ECHELON CORPORATION</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">550 Meridian Avenue</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">San Jose, California 95126</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(408) 938-5200</FONT> </DIV></TD>
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<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif">(Name, <U>address and telephone number of agent for</U> service)</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Copy to:</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">John V. Roos, Esq.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Wilson Sonsini Goodrich &amp; Rosati, P.C.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">650 Page Mill Road</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><U>&nbsp;&nbsp;&nbsp; Palo Alto, California 94304&nbsp; </U></FONT>&nbsp;</DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT id=TAB1 style="MARGIN-LEFT: 36pt"></FONT><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">CALCULATION OF REGISTRATION FEE</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Title of Securities to be Registered</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Amount to be</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Registered (1)</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Proposed Maximum</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Offering Price</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Per Share</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Proposed Maximum</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Aggregate</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Offering Price</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Amount of</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Registration Fee</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Common Stock, $.01 par value: Reserved for future issuance under the 1997 Stock Plan</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,986,277 shares</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$11.905 (2)</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$23,646,627.69</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$1,913.01</FONT> </DIV></TD></TR>
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<TD width="36%" colSpan=2>&nbsp;</TD>
<TD vAlign=top align=right width="13%">&nbsp;</TD>
<TD vAlign=top align=right width="14%" colSpan=2>&nbsp;</TD>
<TD vAlign=top align=right width="14%">&nbsp;</TD>
<TD vAlign=top align=right width="12%">&nbsp;</TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Common Stock, $.01 par value: Reserved for future issuance under the 1998 Director Option Plan</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">100,000 shares</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$11.905 (2)</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$1,190,500.00</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$96.31</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Total:</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2,086,277 shares</FONT> </DIV></TD>
<TD vAlign=top align=right width="14%" colSpan=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right>&nbsp;</DIV></TD>
<TD vAlign=top align=right width="14%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$24,837,127.69</FONT> </DIV></TD>
<TD vAlign=top align=right width="12%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=right><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$2,009.32</FONT> </DIV></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">__________<BR></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(1)</FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 10pt">&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 18pt">&nbsp;</FONT></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Pursuant to Rule 429 of the Securities Act of 1933, as amended (the "Securities Act"), the prospectus delivered to participants under the Registrant&#146;s 1997 Stock Plan (the "1997 Plan") and 1998 Director Option Plan (the "Director Plan") also relates to an aggregate of 13,660,468 shares previously registered under Form S-8 Registration Nos. 333-62045, 333-44198 and 333-88880.</FONT> <BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 11.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(2)</FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 10pt">&nbsp;</FONT>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Estimated in accordance with Rule 457(c) under the Securities Act, solely for the purpose of computing the amount of the registration fee based on the average of the high and low prices per share of the Company&#146;s Common Stock as reported on the Nasdaq National Market System on November&nbsp;19, 2003, which was $11.905 per share.</FONT> </DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">PART II</FONT> </DIV>
<DIV align=center>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Item 3</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">.</FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 28pt">&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Incorporation of Documents by Reference</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Echelon Corporation (the "Company" or "Registrant") hereby incorporates by reference in this registration statement the following documents and information heretofore filed with the Securities and Exchange Commission (the "Commission"):<BR></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(a)</FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 28pt">&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">The Company&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended December 31, 2002.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(b) The Company&#146;s Quarterly Report on Form 10-Q for the fiscal quarters ended March&nbsp;31, 2003, June 30, 2003 and September 30, 2003.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>(c) <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed on April 15, 2003.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(d)</FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 28pt">&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">All other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), since the end of the fiscal year covered by the Company&#146;s filing referred to in (a) above.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(e)</FONT>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">The description of the Company&#146;s Common Stock is contained in the Company&#146;s registration statement on Form 8-A filed with the Commission on June&nbsp;2, 1998 pursuant to Section 12(g) of the Exchange Act, including any amendments or reports filed for the purpose of updating such description.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">All documents subsequently filed by the Company pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this registration statement which indicates that all securities offered hereby have been sold or which deregisters all securities remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be a part hereof from the date of filing of such documents.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline"><BR>Item 4</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">.</FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 28pt">&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Description of Securities</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Not applicable.</FONT> </DIV><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><BR>Item 5</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">.</FONT>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Interests of Named Experts and Counsel</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">The validity of the securities registered hereby has been passed upon for the Company by Wilson Sonsini Goodrich &amp; Rosati, Professional Corporation ("WSGR"), Palo Alto, California. Larry W. Sonsini, a member of WSGR and a member of the Board of Directors of the Company, owns 14,261 shares of the Company&#146;s Common Stock. A partnership investment account of WSGR, in which Mr. Sonsini is a participant, owns 9,000 shares of the Company&#146;s Common Stock. Mr. Sonsini holds options to purchase 50,000 shares of the Company&#146;s Common Stock. Upon exercise of such options, 10% of the shares shall be issued to Mr. Sonsini and 90% of the shares shall be issued to the applicable partnership investment accounts of WSGR, in which Mr. Sonsini is a participant. In addition, an aggregate of 60,239 shares of the Company&#146;s Common Stock have been distributed to certain current and former members or employees of WSGR.</FONT> </DIV>
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<P align=center>&nbsp;II-1</P></TD></TR>
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<DIV><BR>Item 6</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">.</FONT>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Indemnification of Directors and Officers</FONT> </DIV>
<DIV>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">The Company&#146;s Certificate of Incorporation limits the liability of directors to the maximum extent permitted by Delaware law. Delaware law provides that directors of a company will not be personally liable for monetary damages for breach of their fiduciary duties as directors, except for liability (i) for any breach of their duly of loyalty to the company or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) for unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the Delaware General Corporation Law, or (iv) for any transaction from which the director derived an improper personal benefit.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">The Company&#146;s Bylaws provide that the Company shall indemnify its officers and directors and may indemnify its employees and other agents to the fullest extent permitted by law. The Company believes that indemnification under its Bylaws covers at least negligence and gross negligence on the part of indemnified parties. The Company&#146;s Bylaws also permit it to secure insurance on behalf of any officer, director, employee or other agent for any liability arising our of his or her actions in such capacity, regardless of whether the Bylaws would permit indemnification.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">The Company has entered into agreements to indemnify its directors and officers, in addition to the indemnification provided for in the Company&#146;s Bylaws. These agreements, among other things, indemnify the Company&#146;s directors and officers for certain expenses (including attorneys&#146; fees), judgments, fines and settlement amounts incurred by any such person in any action or proceeding, including any action by or in the right of the Company, arising out of such person&#146;s services as a director or officer of the Company, any subsidiary of the Company or any other company or enterprise to which the person provides services at the request of the Company. The Company believes that these provisions and agreements are necessary to attract and retain qualified persons as directors and officers.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Item 7</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">.</FONT>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Exemption From Registration Claimed</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Not applicable.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Item 8</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">.</FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 28pt">&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Exhibits</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.1*</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">1997 Stock Plan and form of stock option agreement for use thereunder.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.2**</FONT>&nbsp;&nbsp;&nbsp; <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">1998 Director Option Plan.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.3**</FONT>&nbsp;&nbsp;&nbsp;&nbsp; <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Form of Stock Option Agreement for use under the 1998 Director Option Plan.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.1</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Opinion of Wilson Sonsini Goodrich &amp; Rosati, P.C., as to the legality of securities being registered.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">23.1</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Consent of KPMG LLP, independent auditors. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">23.2</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Consent of Counsel (contained in Exhibit 5.1).</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">24.1</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Power of Attorney (see Page II-5).</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&shy;_________</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><BR>*</FONT>&nbsp;&nbsp; <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Incorporated by reference to the exhibit filed with the Company&#146;s registration statement on Form S-1 (File No. 333-55719) filed with the Commission on June 1, 1998.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
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</FONT></TD></TR>
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<DIV>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">** Incorporated by reference to the exhibit filed with the Company&#146;s registration statement on Form S-8 (File No. 333-44198) filed with the Commission on August 21, 2000.</FONT> <BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Item 9</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">.</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Undertakings</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(a)&nbsp; </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Rule 415 Offering</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">. The undersigned Registrant hereby undertakes:</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 54pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 54pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(i)<FONT id=TAB2 style="LETTER-SPACING: 18pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">To include any prospectus required by section 10(a)(3) of the Securities Act;</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(ii)<FONT id=TAB2 style="LETTER-SPACING: 18pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">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&nbsp;424(b) under the Securities Act if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(iii)<FONT id=TAB2 style="LETTER-SPACING: 18pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">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></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><BR>&nbsp;</DIV></FONT>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Provided</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">, </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">however</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">, that paragraphs (a)(1)(i)&nbsp;and (a)(1)(ii)&nbsp;do not apply if the registration statement is on Form&nbsp;S-3, Form&nbsp;S-8 or Form F-3, and the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to section 13 or section&nbsp;15(d) of the Exchange Act that are incorporated by reference in the registration statement.</FONT> </DIV><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 144pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><BR><FONT id=TAB2 style="LETTER-SPACING: 18pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;(2)<FONT id=TAB2 style="LETTER-SPACING: 18pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">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 therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><FONT id=TAB2 style="LETTER-SPACING: 18pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;(3)<FONT id=TAB2 style="LETTER-SPACING: 18pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">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></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(b)</FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 28pt">&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Filings incorporating subsequent Exchange Act documents by reference</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">.</FONT> </DIV>
<P style="TEXT-INDENT: 36pt"><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&#146;s annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT> </P>
<DIV>
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<P align=center>&nbsp;II-3</P></TD></TR>
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</FONT></TD></TR>
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<DIV>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(c)</FONT>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Request for acceleration of effective date or filing of registration statement on Form&nbsp;S-8</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&nbsp;</DIV></FONT>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">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 Securities and Exchange 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> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 8.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT id=TAB1 style="MARGIN-LEFT: 252pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">II-4</FONT> </DIV></TD></TR>
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<TD vAlign=bottom width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">SIGNATURES</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">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&nbsp;S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Jose, State of California, on November 14, 2003.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&nbsp;</DIV></FONT>
<DIV style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">ECHELON CORPORATION</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><BR><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">/s/ M. Kenneth Oshman</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT id=TAB1 style="MARGIN-LEFT: 36pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">M. Kenneth Oshman</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT id=TAB1 style="MARGIN-LEFT: 36pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Chairman of the Board and Chief Executive Officer</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><BR>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">POWER OF ATTORNEY</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><BR>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints M. Kenneth Oshman and Oliver R. Stanfield, jointly and severally, his or her attorneys-in-fact, each with the power of substitution, for him or her in any and all capacities, to sign any amendments to this registration statement on Form&nbsp;S-8, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof.</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 8.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT id=TAB1 style="MARGIN-LEFT: 252pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">II-5</FONT> </DIV></TD></TR>
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<P style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities and on the dates indicated.</FONT> </P>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Signature</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Title</FONT> </DIV></TD>
<TD vAlign=top align=middle width="17%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Date</FONT> </DIV></TD></TR>
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<DIV><U>/s/ M. Kenneth Oshman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></DIV>
<DIV>(M. Kenneth Oshman)&nbsp;</DIV></TD>
<TD vAlign=center align=left width="36%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Chairman of the Board and Chief Executive Officer </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman, serif">(Principal Executive Officer)</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"></FONT></DIV></TD>
<TD vAlign=top align=left width="17%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">November 14, 2003</FONT> </DIV></TD></TR>
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<TD vAlign=top width="29%">&nbsp;</TD>
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<TD vAlign=top width="17%"></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><U>/s/ Oliver R. Stanfield&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT>&nbsp; </DIV>
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(Oliver R. Stanfield)</FONT> </DIV>
<DIV>&nbsp;&nbsp;</DIV></TD>
<TD vAlign=top align=left width="36%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Executive Vice President and Chief Financial Officer </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman, serif">(Principal Financial and Accounting Officer)</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"></FONT></DIV></TD>
<TD vAlign=center align=left width="17%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">November 14, 2003</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><U>/s/Robert J. Finocchio, Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT>&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(Robert J. Finocchio, Jr.)</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Director</FONT> </DIV></TD>
<TD align=left width="17%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">November 14, 2003</FONT> </DIV></TD></TR>
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<DIV>&nbsp;</DIV>
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><U>/s/ Michael E. Lehman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT>&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(Michael E. Lehman)</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Director</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">November 14, 2003</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><U>/s/ Armas Clifford Markkula, Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</U></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><U>(</U><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Armas Clifford Markkula, Jr.)</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Director</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">November 14, 2003</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify>&nbsp;</DIV>
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><U>/s/ Robert R. Maxfield&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT>&nbsp;&nbsp;&nbsp;</DIV>
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(Robert R. Maxfield)</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Director</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">November 14, 2003</FONT> </DIV></TD></TR>
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<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><U>/s/ Richard M. Moley&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT>&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(Richard M. Moley)</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Director</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">November 14, 2003</FONT> </DIV></TD></TR>
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<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><U>/s/ Arthur Rock&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT>&nbsp;&nbsp;&nbsp;&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(Arthur Rock)</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Director</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">November 14, 2003</FONT> </DIV></TD></TR>
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<DIV><U><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">/s/ Larry W. Sonsini</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;</U></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(Larry W. Sonsini)</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Director</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">November 14, 2003</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><BR></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 8.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT id=TAB1 style="MARGIN-LEFT: 252pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">II-6</FONT> </DIV></TD></TR>
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</FONT></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><BR>ECHELON CORPORATION</FONT> <BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">REGISTRATION STATEMENT ON FORM S-8</FONT> <BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">EXHIBIT INDEX</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><BR>&nbsp;</DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Exhibit</FONT> <U><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Number</FONT> </U></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><U><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Description</FONT> </U></DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.1*</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">1997 Stock Plan and form of stock option agreement for use thereunder.</FONT> </DIV></TD></TR>
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<TD align=left width="9%">&nbsp;</TD>
<TD align=left width="64%">&nbsp;</TD></TR>
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<TD align=left width="9%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.2**</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">1998 Director Option Plan.</FONT> </DIV></TD></TR>
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<TD align=left width="9%">&nbsp;</TD>
<TD align=left width="64%">&nbsp;</TD></TR>
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<TD align=left width="9%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.3**</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Form&nbsp;of Stock Option Agreement for use under the 1998 Director Option Plan.</FONT> </DIV></TD></TR>
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<TD align=left width="9%">&nbsp;</TD>
<TD align=left width="64%">&nbsp;</TD></TR>
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<TD align=left width="9%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.1</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Opinion of Wilson Sonsini Goodrich &amp; Rosati, P.C., as to the legality of securities being registered.</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">23.1</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Consent of KPMG LLP</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">, independent auditors.</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">23.2</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Consent of Counsel (contained in Exhibit 5.1).</FONT> </DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">24.1</FONT> </DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Power of Attorney (see Page II-5).</FONT> </DIV></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">________</FONT> <BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">* Incorporated by reference to the exhibit filed with the Company&#146;s registration statement on Form S-1 (File No. 333-55719) filed with the Commission on June 1, 1998.</FONT> <BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 12.5pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">** Incorporated by reference to the exhibit filed with the Company&#146;s registration statement on Form S-8 (File No. 333-44198) filed with the Commission on August 21, 2000.</FONT> </DIV>
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{"company-data": {"conformed-name": "ECHELON CORP", "cik": "0000031347", "assigned-sic": "3576", "irs-number": "770203595", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-110679", "film-number": "031018683"}, "business-address": {"street1": "4015 MIRANDA AVE", "city": "PALO ALTO", "state": "CA", "zip": "94304", "phone": "6508557400"}, "mail-address": {"street1": "4015 MIRANDA AVE", "city": "PALO ALTO", "state": "CA", "zip": "94304"}}
S-8 body
As filed with the Securities and Exchange Commission on November 21, 2003
Registration No. 333-________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under
The Securities Act of 1933
ECHELON CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware
77-0203595
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer Identification Number)
550 Meridian Avenue
San Jose, California 95126
(Address of principal executive offices)
1997 Stock Plan
1998 Director Option Plan
(Full titles of the plans)
M. Kenneth Oshman
Chairman of the Board and Chief Executive Officer
ECHELON CORPORATION
550 Meridian Avenue
San Jose, California 95126
(408) 938-5200
(Name,
address and telephone number of agent for
service)
Copy to:
John V. Roos, Esq.
Wilson Sonsini Goodrich & Rosati, P.C.
650 Page Mill Road
Palo Alto, California 94304
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, $.01 par value: Reserved for future issuance under the 1997 Stock Plan
1,986,277 shares
$11.905 (2)
$23,646,627.69
$1,913.01
Common Stock, $.01 par value: Reserved for future issuance under the 1998 Director Option Plan
100,000 shares
$11.905 (2)
$1,190,500.00
$96.31
Total:
2,086,277 shares
$24,837,127.69
$2,009.32
__________
(1)
Pursuant to Rule 429 of the Securities Act of 1933, as amended (the "Securities Act"), the prospectus delivered to participants under the Registrant's 1997 Stock Plan (the "1997 Plan") and 1998 Director Option Plan (the "Director Plan") also relates to an aggregate of 13,660,468 shares previously registered under Form S-8 Registration Nos. 333-62045, 333-44198 and 333-88880.
(2)
Estimated in accordance with Rule 457(c) under the Securities Act, solely for the purpose of computing the amount of the registration fee based on the average of the high and low prices per share of the Company's Common Stock as reported on the Nasdaq National Market System on November 19, 2003, which was $11.905 per share.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3
.
Incorporation of Documents by Reference
Echelon Corporation (the "Company" or "Registrant") hereby incorporates by reference in this registration statement the following documents and information heretofore filed with the Securities and Exchange Commission (the "Commission"):
(a)
The Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2002.
(b) The Company's Quarterly Report on Form 10-Q for the fiscal quarters ended March 31, 2003, June 30, 2003 and September 30, 2003.
(c)
The Company's Current Report on Form 8-K filed on April 15, 2003.
(d)
All other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), since the end of the fiscal year covered by the Company's filing referred to in (a) above.
(e)
The description of the Company's Common Stock is contained in the Company's registration statement on Form 8-A filed with the Commission on June 2, 1998 pursuant to Section 12(g) of the Exchange Act, including any amendments or reports filed for the purpose of updating such description.
All documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this registration statement which indicates that all securities offered hereby have been sold or which deregisters all securities remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be a part hereof from the date of filing of such documents.
Item 4
.
Description of Securities
Not applicable.
Item 5
.
Interests of Named Experts and Counsel
The validity of the securities registered hereby has been passed upon for the Company by Wilson Sonsini Goodrich & Rosati, Professional Corporation ("WSGR"), Palo Alto, California. Larry W. Sonsini, a member of WSGR and a member of the Board of Directors of the Company, owns 14,261 shares of the Company's Common Stock. A partnership investment account of WSGR, in which Mr. Sonsini is a participant, owns 9,000 shares of the Company's Common Stock. Mr. Sonsini holds options to purchase 50,000 shares of the Company's Common Stock. Upon exercise of such options, 10% of the shares shall be issued to Mr. Sonsini and 90% of the shares shall be issued to the applicable partnership investment accounts of WSGR, in which Mr. Sonsini is a participant. In addition, an aggregate of 60,239 shares of the Company's Common Stock have been distributed to certain current and former members or employees of WSGR.
II-1
Item 6
.
Indemnification of Directors and Officers
The Company's Certificate of Incorporation limits the liability of directors to the maximum extent permitted by Delaware law. Delaware law provides that directors of a company will not be personally liable for monetary damages for breach of their fiduciary duties as directors, except for liability (i) for any breach of their duly of loyalty to the company or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) for unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the Delaware General Corporation Law, or (iv) for any transaction from which the director derived an improper personal benefit.
The Company's Bylaws provide that the Company shall indemnify its officers and directors and may indemnify its employees and other agents to the fullest extent permitted by law. The Company believes that indemnification under its Bylaws covers at least negligence and gross negligence on the part of indemnified parties. The Company's Bylaws also permit it to secure insurance on behalf of any officer, director, employee or other agent for any liability arising our of his or her actions in such capacity, regardless of whether the Bylaws would permit indemnification.
The Company has entered into agreements to indemnify its directors and officers, in addition to the indemnification provided for in the Company's Bylaws. These agreements, among other things, indemnify the Company's directors and officers for certain expenses (including attorneys' fees), judgments, fines and settlement amounts incurred by any such person in any action or proceeding, including any action by or in the right of the Company, arising out of such person's services as a director or officer of the Company, any subsidiary of the Company or any other company or enterprise to which the person provides services at the request of the Company. The Company believes that these provisions and agreements are necessary to attract and retain qualified persons as directors and officers.
Item 7
.
Exemption From Registration Claimed
Not applicable.
Item 8
.
Exhibits
4.1*
1997 Stock Plan and form of stock option agreement for use thereunder.
4.2**
1998 Director Option Plan.
4.3**
Form of Stock Option Agreement for use under the 1998 Director Option Plan.
5.1
Opinion of Wilson Sonsini Goodrich & Rosati, P.C., as to the legality of securities being registered.
23.1
Consent of KPMG LLP, independent auditors.
23.2
Consent of Counsel (contained in Exhibit 5.1).
24.1
Power of Attorney (see Page II-5).
­_________
*
Incorporated by reference to the exhibit filed with the Company's registration statement on Form S-1 (File No. 333-55719) filed with the Commission on June 1, 1998.
II-2
** Incorporated by reference to the exhibit filed with the Company's registration statement on Form S-8 (File No. 333-44198) filed with the Commission on August 21, 2000.
Item 9
.
Undertakings
(a)
Rule 415 Offering
. 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) under the Securities Act if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;
(iii)
To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
Provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration statement is on Form S-3, Form S-8 or Form F-3, and the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to section 13 or section 15(d) of the 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 therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)
Filings incorporating subsequent Exchange Act documents by reference
.
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
II-3
(c)
Request for acceleration of effective date or filing of registration statement on Form S-8
.
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 Securities and Exchange 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 San Jose, State of California, on November 14, 2003.
ECHELON CORPORATION
By:
/s/ M. Kenneth Oshman
M. Kenneth Oshman
Chairman of the Board and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints M. Kenneth Oshman and Oliver R. Stanfield, jointly and severally, his or her attorneys-in-fact, each with the power of substitution, for him or her in any and all capacities, to sign any amendments to this registration statement on Form S-8, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof.
II-5
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ M. Kenneth Oshman
(M. Kenneth Oshman)
Chairman of the Board and Chief Executive Officer
(Principal Executive Officer)
November 14, 2003
/s/ Oliver R. Stanfield
(Oliver R. Stanfield)
Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)
November 14, 2003
/s/Robert J. Finocchio, Jr.
(Robert J. Finocchio, Jr.)
Director
November 14, 2003
/s/ Michael E. Lehman
(Michael E. Lehman)
Director
November 14, 2003
/s/ Armas Clifford Markkula, Jr.
(
Armas Clifford Markkula, Jr.)
Director
November 14, 2003
/s/ Robert R. Maxfield
(Robert R. Maxfield)
Director
November 14, 2003
/s/ Richard M. Moley
(Richard M. Moley)
Director
November 14, 2003
/s/ Arthur Rock
(Arthur Rock)
Director
November 14, 2003
/s/ Larry W. Sonsini
(Larry W. Sonsini)
Director
November 14, 2003
II-6
ECHELON CORPORATION
REGISTRATION STATEMENT ON FORM S-8
EXHIBIT INDEX
Exhibit
Number
Description
4.1*
1997 Stock Plan and form of stock option agreement for use thereunder.
4.2**
1998 Director Option Plan.
4.3**
Form of Stock Option Agreement for use under the 1998 Director Option Plan.
5.1
Opinion of Wilson Sonsini Goodrich & Rosati, P.C., as to the legality of securities being registered.
23.1
Consent of KPMG LLP
, independent auditors.
23.2
Consent of Counsel (contained in Exhibit 5.1).
24.1
Power of Attorney (see Page II-5).
________
* Incorporated by reference to the exhibit filed with the Company's registration statement on Form S-1 (File No. 333-55719) filed with the Commission on June 1, 1998.
** Incorporated by reference to the exhibit filed with the Company's registration statement on Form S-8 (File No. 333-44198) filed with the Commission on August 21, 2000.
II-7