content: <HTML>
  <HEAD>
  <TITLE>sv8</TITLE>
  </HEAD>
  <BODY bgcolor="#FFFFFF">
  <!-- PAGEBREAK -->
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt">As filed with the Securities and Exchange Commission on May&nbsp;19, 2009.
  </DIV>
  
  
  <DIV align="right" style="font-size: 10pt; margin-top: 12pt">Registration No.&nbsp;333-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
  </DIV>
  
  
  <DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt; margin-top:6pt">&nbsp;</DIV>
  <DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>
  
  
  
  
  <DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
  SECURITIES AND EXCHANGE COMMISSION</B>
  </DIV>
  
  <DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
  </DIV>
  
  <DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
  </DIV>
  
  
  <DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
  UNDER<BR>
  THE SECURITIES ACT OF 1933</B>
  </DIV>
  
  <DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>THE ST. JOE COMPANY</B>
  </DIV>
  
  <DIV align="center" style="font-size: 10pt"><I>(Exact Name of Registrant as Specified in its Charter)</I></DIV>
  
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="47%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="47%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top"><B>Florida</B>
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><B>59-0432511</B></TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><I>(State or other jurisdiction of</I>
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><I>(IRS Employer Identification</I></TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top"><I>incorporation or organization)</I>
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><I>Number)</I></TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>245 Riverside Avenue, Suite&nbsp;500<BR>
  Jacksonville, Florida 32202</B><BR>
  <I>(Address of Principal Executive Offices, Zip Code)</I></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 12pt"><FONT style="font-variant: SMALL-CAPS"><B>The St. Joe Company 2009 Equity Incentive Plan</B></FONT><BR>
  <I>(Full Title of the Plan)</I></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Christine M. Marx<BR>
  General Counsel and Corporate Secretary<BR>
  The St. Joe Company<BR>
  245 Riverside Avenue, Suite&nbsp;500<BR>
  Jacksonville, Florida 32202<BR>
  (904)&nbsp;301-4200</B><BR>
  <I>(Name and Address of Agent for Service)</I></DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
  filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large
  accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the
  Exchange Act. (Check one):
  </DIV>
  
  
  
  
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="22%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="22%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="22%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="22%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top">Large accelerated filer <FONT face="Wingdings">&#254;</FONT>
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Accelerated filer <FONT face="Wingdings">&#111;</FONT>
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">Non-accelerated filer <FONT face="Wingdings">&#111;</FONT>
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top" nowrap>Smaller reporting company <FONT face="Wingdings">&#111;</FONT></TD>
  </TR>
  <TR valign="bottom">
      <TD align="center" valign="top">&nbsp;
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top" nowrap>(Do not check if a smaller reporting company)</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>CALCULATION OF REGISTRATION FEE</B>
  
  </DIV>
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="1%">&nbsp;</TD>
      <TD width="27%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="6%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="3%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="4%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="9%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="9%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD><!-- VRule -->
      <TD width="2%">&nbsp;</TD>
      <TD width="6%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
  
      <TD width="1%">&nbsp;</TD>
  </TR><TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>
  
      <TD nowrap align="center"><B>Title of Securities</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>
  
      <TD nowrap align="center"><B>to be Registered (1)</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Registered (2)</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Offering Price per Share (3)</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Aggregate Offering Price (3)</B></TD>
      <TD style="border-right: 2px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3"><B>Amount of Registration Fee</B></TD>
      <TD width="1%">&nbsp;</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                      <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock</DIV></TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD align="right" style="border-top: 2px solid #000000">2,000,000</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD align="right" style="border-top: 2px solid #000000">$</TD>
      <TD align="right" style="border-top: 2px solid #000000">23.68</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD align="right" style="border-top: 2px solid #000000">$</TD>
      <TD align="right" style="border-top: 2px solid #000000">47,360,000</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD align="right" style="border-top: 2px solid #000000">$</TD>
      <TD align="right" style="border-top: 2px solid #000000">2,642.69</TD>
      <TD style="border-top: 2px solid #000000">&nbsp;</TD>
      <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">(1)&nbsp;The securities to be registered include options and rights to acquire shares of the Company&#146;s
  common stock.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:18px; text-indent:-18px">(2)&nbsp;Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;),
  this Registration Statement also registers such indeterminable number of additional shares of
  common stock as may be required in the event of a stock dividend, stock split, recapitalization or
  other similar change in the shares.</DIV>
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="margin-left:18px; text-indent:-18px">(3)&nbsp;Estimated solely for purposes of calculating the registration fee pursuant to Rule&nbsp;457 under
  the Securities Act, based upon the average of the high and low sales prices of the Company&#146;s common
  stock as reported on the New York Stock Exchange on May&nbsp;15, 2009.
  </DIV>
  </DIV>
  
  <DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
  <DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
  
  
  
  
  
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <!-- TOC -->
  <A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>
  
  <P><CENTER>
  <TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
  <TR>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
  	<TD width="76%"></TD>
  </TR>
  <TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#001">PART II</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;4. Description of Securities</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;5. Interests of Named Experts and Counsel</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;8. Exhibits</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;9. Undertakings</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#009">SIGNATURES</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#010">EXHIBIT INDEX</A></TD></TR>
  <TR><TD colspan="9"><A HREF="b75567s8exv5w1.htm">Ex-5.1 Opinion of Christine M. Marx, General Counsel and Corporate Secretary of the Company</A></TD></TR>
  <TR><TD colspan="9"><A HREF="b75567s8exv23w1.htm">Ex-23.1 Consent of KPMG LLP</A></TD></TR>
  </TABLE>
  </CENTER>
  <!-- /TOC -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  
  
  
  
  
  <!-- link1 "PART I" -->
  <DIV align="left"><A NAME="000"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
  </DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The securities being registered under this Registration Statement will be offered over time
  pursuant to the terms of The St. Joe Company 2009 Equity Incentive Plan (the &#147;Plan&#148;) approved by
  the Company&#146;s shareholders on May&nbsp;12, 2009. The documents containing the information specified in
  this Part&nbsp;I of Form S-8 will be sent or given to participants as specified by Rule 428(b)
  promulgated under the Securities Act. Such documents need not be filed with the Securities and
  Exchange Commission (the &#147;Commission&#148;) either as part of this Registration Statement or as
  prospectuses or prospectus supplements pursuant to Rule&nbsp;424. These documents and the documents
  incorporated by reference in this Registration Statement pursuant to Item&nbsp;3 of Part&nbsp;II of this Form
  S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the
  Securities Act.
  </DIV>
  
  <!-- link1 "PART II" -->
  <DIV align="left"><A NAME="001"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
  </DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
  </DIV>
  
  <!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->
  <DIV align="left"><A NAME="002"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company incorporates by reference into this Registration Statement the following
  documents:
  </DIV>
  
  
  <DIV style="margin-top: 6pt">
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="4%" style="background: transparent">&nbsp;</TD>
      <TD width="3%" nowrap align="left">1.</TD>
      <TD width="1%">&nbsp;</TD>
      <TD>The Company&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31,
  2008 filed with the Commission on February&nbsp;24, 2009.</TD>
  </TR>
  
  <TR>
      <TD style="font-size: 6pt">&nbsp;</TD>
  </TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="4%" style="background: transparent">&nbsp;</TD>
      <TD width="3%" nowrap align="left">2.</TD>
      <TD width="1%">&nbsp;</TD>
      <TD>All other reports filed pursuant to Section 13(a) or 15(d) of the Securities
  Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), since the end of the fiscal
  year covered by the Company&#146;s Annual Report on Form 10-K referred to in (a)&nbsp;above,</TD>
  </TR>
  
  <TR>
      <TD style="font-size: 6pt">&nbsp;</TD>
  </TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="4%" style="background: transparent">&nbsp;</TD>
      <TD width="3%" nowrap align="left">3.</TD>
      <TD width="1%">&nbsp;</TD>
      <TD>The description of the Company&#146;s common stock contained in the Company&#146;s
  Registration Statement on Form&nbsp;8-A (File No.&nbsp;1-10466), filed with the Commission on
  March&nbsp;16, 1990, pursuant to Section&nbsp;12 of the Securities Exchange Act, together with
  amendments thereto.</TD>
  </TR>
  
  </TABLE>
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed pursuant to Sections&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act after
  the date of this Registration Statement and prior to the filing of a post-effective amendment which
  indicates that all securities offered hereby have been sold or which deregisters all securities
  then remaining unsold, shall be deemed to be incorporated by reference into this Registration
  Statement and to be a part hereof from the date of filing of such documents (but we do not
  incorporate by reference any documents that we furnish to, but that are not deemed filed with, the
  Commission).
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained herein, or in a document all or a portion of which is incorporated or
  deemed to be incorporated by reference herein, shall be deemed to be modified or superseded for
  purposes of this Registration Statement to the extent that a statement contained herein or in any
  other subsequently filed document which also is or is deemed to be incorporated by reference herein
  modifies or supersedes such statement. Any such statement so modified or superseded shall not be
  deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
  </DIV>
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <!-- link2 "Item&nbsp;4. Description of Securities" -->
  <DIV align="left"><A NAME="003"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
  </DIV>
  
  <!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel" -->
  <DIV align="left"><A NAME="004"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain legal matters in connection with the shares of common stock to which this Registration
  Statement relates have been passed upon by Christine M. Marx, General Counsel and Corporate
  Secretary of the Company. Ms.&nbsp;Marx owns securities of the Company.
  </DIV>
  
  <!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers" -->
  <DIV align="left"><A NAME="005"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has the authority under Section&nbsp;607.0850 of the Florida Business Corporation Act
  (the &#147;FBCA&#148;) to indemnify its directors and officers to the extent provided in such statute. The
  provisions of the FBCA authorize a corporation to indemnify its officers and directors in
  connection with any proceeding brought against them if the person acted in good faith and in a
  manner which the person reasonably believed to be in, or not opposed to, the best interests of the
  corporation and, with respect to any criminal action, had no reasonable cause to believe the
  person&#146;s conduct was unlawful. Unless a determination is made by a court, the determination of
  whether a director, officer or employee has acted in accordance with the applicable standard of
  conduct must be made by (1)&nbsp;a majority vote of a quorum consisting of directors who were not
  parties to the proceeding or a committee consisting solely of two or more directors who were not
  parties to the proceeding, (2)&nbsp;independent legal counsel selected by a majority vote of a quorum
  consisting of directors who were not parties to the proceeding or committee of directors (or
  selected by the full board if a quorum or committee cannot be obtained), or (3)&nbsp;the affirmative
  vote of the majority of a quorum consisting of the corporation&#146;s shareholders who were not parties
  to the proceeding (or by a majority vote of the corporation&#146;s shareholders who were not parties to
  the proceeding if a quorum cannot be obtained).
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The FBCA further provides that a corporation may make any other or further indemnity by
  resolution, bylaw, agreement, vote of shareholder or disinterested directors or otherwise, except
  with respect to certain enumerated acts or omissions of such persons. Florida law prohibits
  indemnification or advancement of expenses if a judgment or other final adjudication establishes
  that the actions of a director, officer or employee constitute (1)&nbsp;a violation of criminal law,
  unless the person had reasonable cause to believe his conduct was lawful, (2)&nbsp;a transaction from
  which such person derived an improper personal benefit, (3)&nbsp;willful misconduct or conscious
  disregard for the best interests of the corporation in the case of a derivative action by a
  shareholder, or (4)&nbsp;in the case of a director, a circumstance under which a director would be
  liable for improper distributions under Section&nbsp;607.0834 of the FBCA. The FBCA does not affect a
  director&#146;s responsibilities under any other law, such as federal securities laws.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;III, Section&nbsp;8 of the Company&#146;s Amended and Restated Bylaws provides as follows with
  respect to the indemnification of our officers and directors:
  </DIV>
  
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">To the fullest extent permitted or required by the Florida Business Corporation Act (the
  &#147;Act&#148;), including any amendments thereto (but in the case of any such amendment, only to the
  extent such amendment permits or requires the Company to provide broader indemnification
  rights than prior to such amendment), the Company shall indemnify, and advance expenses
  incurred by, its Directors and officers, and any director and officer of another
  corporation, partnership, joint venture, trust or other enterprise serving at the request of
  the Company, whether or not then in office, and his or her executor, administrator and
  heirs, and may indemnify, and advance expenses incurred by, employees and agents of the
  Company, against all Liabilities (as defined in Section&nbsp;607.0850 of the Act) incurred
  thereby in connection with any litigation, civil or
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">administrative action, suit or proceeding, to which he or she may have been made a party or
  in which he or she is deposed or called to testify as a witness because he or she is or was
  a Director, officer, employee or agent of the Company or he or she is or was serving at the
  request of the Company as a director or officer of another corporation, partnership, joint
  venture, trust or other enterprise. No amendment or repeal of this Section&nbsp;8 shall diminish
  the rights of indemnification provided for herein prior to such amendment or repeal.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has entered into indemnification agreements with each of its directors and
  officers in order to provide specific contractual assurance with respect to indemnification and
  expense advancement rights extended to such directors and officers under the Bylaw provisions
  described above. The indemnification agreement provides assurance that no future amendment to or
  revocation of the Bylaws will adversely affect any contractual right of a director or officer with
  respect to indemnification and expense advancement. The Company also maintains directors&#146; and
  officers&#146; liability insurance covering the directors and officers of the Company against claims
  arising out of the performance of their duties.
  </DIV>
  
  <!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->
  <DIV align="left"><A NAME="006"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
  </DIV>
  
  <!-- link2 "Item&nbsp;8. Exhibits" -->
  <DIV align="left"><A NAME="007"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="8%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
      <TD width="90%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Restated and Amended Articles of Incorporation, as amended (incorporated by
  reference to Exhibit&nbsp;3.1 of the registrant&#146;s registration statement on Form&nbsp;S-3 (File
  333-116017)).</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Amended and Restated Bylaws of the registrant (incorporated by reference to
  Exhibit&nbsp;3 to the registrant&#146;s Current Report on Form&nbsp;8-K dated December&nbsp;14, 2004).</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Opinion of Christine M. Marx, General Counsel and Corporate Secretary of the Company</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of KPMG LLP, independent registered public accounting firm.</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Christine M. Marx, General Counsel and Corporate Secretary of the
  Company (included in Exhibit&nbsp;5.1 to this Registration Statement)</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <!-- link2 "Item&nbsp;9. Undertakings" -->
  <DIV align="left"><A NAME="008"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned registrant hereby undertakes:
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective
  amendment to this registration statement:
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of
  1933;
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date
  of the registration statement (or the most recent post-effective amendment thereof) which,
  individually or in the aggregate, represent a fundamental change in the information set
  forth in the registration statement. 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
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">may be reflected in the form of prospectus filed with the Securities and Exchange
  Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price
  represent no more than a 20&nbsp;percent change in the maximum aggregate offering price set forth
  in the &#147;Calculation of Registration Fee&#148; table in the effective registration statement;
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not
  previously disclosed in the registration statement or any material change to such
  information in the registration statement;
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">provided, however, that paragraphs (1)(i) and (1)(ii) above do not apply if the registration
  statement is on Form S-8, and the information required to be included in a post-effective
  amendment by those paragraphs is contained in reports filed with or furnished to the
  Commission by the registrant pursuant to Section&nbsp;13 or Section 15(d) of the Securities
  Exchange Act of 1934 that are incorporated by reference in the registration statement.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act of 1933,
  each such post-effective amendment shall be deemed to be a new registration statement relating
  to the securities offered herein, and the offering of such securities at that time shall be
  deemed to be the initial <I>bona fide </I>offering thereof.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the
  securities being registered which remain unsold at the termination of the offering.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of determining any
  liability under the Securities Act of 1933, each filing of the registrant&#146;s annual report pursuant
  to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
  each filing of an employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Securities
  Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
  deemed to be a new registration statement relating to the securities offered therein, and the
  offering of such securities at that time shall be deemed to be the initial <I>bona fide </I>offering
  thereof.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
  permitted to directors, officers and controlling persons of the registrant pursuant to the
  foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
  Securities and Exchange Commission such indemnification is against public policy as expressed in
  the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
  such liabilities (other than the payment by the registrant of expenses incurred or paid by a
  director, officer or controlling person of the registrant in the successful defense of any action,
  suit or proceeding) is asserted by such director, officer or controlling person in connection with
  the securities being registered, the registrant will, unless in the opinion of its counsel the
  matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
  question whether such indemnification by it is against public policy as expressed in the Act and
  will be governed by the final adjudication of such issue.
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  <!-- link1 "SIGNATURES" -->
  <DIV align="left"><A NAME="009"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, 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 Jacksonville, State of Florida, as of May&nbsp;19, 2009.
  </DIV>
  
  <TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
  <TR>
      <TD width="48%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="35%">&nbsp;</TD>
      <TD width="15%">&nbsp;</TD>
  </TR>
  <TR>
      <TD valign="top" align="left">&nbsp;</TD>
      <TD colspan="3" align="left"><B>THE ST. JOE COMPANY</B><BR>
  &nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD valign="top">By:&nbsp;&nbsp;</TD>
      <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Wm. Britton Greene
  &nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="2" align="left">Wm. Britton Greene&nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="2" align="left">President and Chief Executive Officer&nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR>
  <TR>
      <TD colspan="5">&nbsp;</TD>
  </TR>
  </TABLE>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
  been signed by the following persons in the capacities indicated as of May&nbsp;19, 2009:
  </DIV>
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="35%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="35%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="center" style="border-bottom: 1px solid #000000">Signature</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000">Title</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Wm. Britton Greene
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">President, Chief Executive Officer and Director</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Wm. Britton Greene
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">(Principal
  Executive Officer)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ William S. McCalmont
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Executive Vice President and Chief</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  William S. McCalmont
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Financial
  Officer (Principal Financial Officer)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Janna L. Connolly
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Janna L. Connolly</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Janna L. Connolly
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Vice President, Controller and Chief
  Accounting Officer <BR>
  (Principal Accounting Officer)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Michael L. Ainslie
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Michael L. Ainslie
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Hugh M. Durden
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Hugh M. Durden
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Thomas A. Fanning
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Thomas A. Fanning
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Adam W. Herbert, Jr.
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Adam W. Herbert, Jr.
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Delores M. Kesler
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Delores M. Kesler
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ John S. Lord
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  John S. Lord
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Walter L. Revell
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Director</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
  Walter L. Revell
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <!-- link1 "EXHIBIT INDEX" -->
  <DIV align="left"><A NAME="010"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="8%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
      <TD width="90%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 8pt" valign="bottom">
      <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Restated and Amended Articles of Incorporation, as amended (incorporated by
  reference to Exhibit&nbsp;3.1 of the registrant&#146;s registration statement on Form&nbsp;S-3 (File
  333-116017)).</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Amended and Restated Bylaws of the registrant (incorporated by reference to
  Exhibit&nbsp;3 to the registrant&#146;s Current Report on Form&nbsp;8-K dated December&nbsp;14, 2004).</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Opinion of Christine M. Marx, General Counsel and Corporate Secretary of the Company</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of KPMG LLP, independent registered public accounting firm.</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Christine M. Marx, General Counsel and Corporate Secretary of the Company
  (included in Exhibit&nbsp;5.1 to this Registration Statement)</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  
  
  </BODY>
  </HTML>
metadata_documents: [{"type": "S-8", "sequence": "1", "filename": "b75567s8sv8.htm", "description": "THE ST. JOE COMPANY", "secsgml_size_bytes": 47572}]
metadata_filer: {"company-data": {"conformed-name": "ST JOE CO", "cik": "0000745308", "assigned-sic": "6552", "irs-number": "590432511", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-159347", "film-number": "09839916"}, "business-address": {"street1": "245 RIVERSIDE AVENUE STE 500", "city": "JACKSONVILLE", "state": "FL", "zip": "32202", "phone": "9043014200"}, "mail-address": {"street1": "245 RIVERSIDE AVENUE", "street2": "SUITE 500", "city": "JACKSONVILLE", "state": "FL", "zip": "32202"}, "former-company": [{"former-conformed-name": "ST JOE CORP", "date-changed": "19980430"}, {"former-conformed-name": "ST JOE PAPER CO", "date-changed": "19920703"}]}
text: sv8
  Table of Contents
  As filed with the Securities and Exchange Commission on May 19, 2009.
  Registration No. 333-
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM S-8
  REGISTRATION STATEMENT
  UNDER
  THE SECURITIES ACT OF 1933
  THE ST. JOE COMPANY
  (Exact Name of Registrant as Specified in its Charter)
  Florida
  59-0432511
  (State or other jurisdiction of
  (IRS Employer Identification
  incorporation or organization)
  Number)
  245 Riverside Avenue, Suite 500
  Jacksonville, Florida 32202
  (Address of Principal Executive Offices, Zip Code)
  The St. Joe Company 2009 Equity Incentive Plan
  (Full Title of the Plan)
  Christine M. Marx
  General Counsel and Corporate Secretary
  The St. Joe Company
  245 Riverside Avenue, Suite 500
  Jacksonville, Florida 32202
  (904) 301-4200
  (Name and Address of Agent for Service)
  Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
  filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large
  accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the
  Exchange Act. (Check one):
  Large accelerated filer
  þ
  Accelerated filer
  o
  Non-accelerated filer
  o
  Smaller reporting company
  o
  (Do not check if a smaller reporting company)
  CALCULATION OF REGISTRATION FEE
  Title of Securities
  Amount to be
  Proposed Maximum
  Proposed Maximum
  to be Registered (1)
  Registered (2)
  Offering Price per Share (3)
  Aggregate Offering Price (3)
  Amount of Registration Fee
  Common Stock
  2,000,000
  $
  23.68
  $
  47,360,000
  $
  2,642.69
  (1) The securities to be registered include options and rights to acquire shares of the Company's
  common stock.
  (2) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"),
  this Registration Statement also registers such indeterminable number of additional shares of
  common stock as may be required in the event of a stock dividend, stock split, recapitalization or
  other similar change in the shares.
  (3) Estimated solely for purposes of calculating the registration fee pursuant to Rule 457 under
  the Securities Act, based upon the average of the high and low sales prices of the Company's common
  stock as reported on the New York Stock Exchange on May 15, 2009.
  TABLE OF CONTENTS
  PART I
  PART II
  Item 3. Incorporation of Documents by Reference
  Item 4. Description of Securities
  Item 5. Interests of Named Experts and Counsel
  Item 6. Indemnification of Directors and Officers
  Item 7. Exemption from Registration Claimed
  Item 8. Exhibits
  Item 9. Undertakings
  SIGNATURES
  EXHIBIT INDEX
  Ex-5.1 Opinion of Christine M. Marx, General Counsel and Corporate Secretary of the Company
  Ex-23.1 Consent of KPMG LLP
  Table of Contents
  PART I
  INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
  The securities being registered under this Registration Statement will be offered over time
  pursuant to the terms of The St. Joe Company 2009 Equity Incentive Plan (the "Plan") approved by
  the Company's shareholders on May 12, 2009. The documents containing the information specified in
  this Part I of Form S-8 will be sent or given to participants as specified by Rule 428(b)
  promulgated under the Securities Act. Such documents need not be filed with the Securities and
  Exchange Commission (the "Commission") either as part of this Registration Statement or as
  prospectuses or prospectus supplements pursuant to Rule 424. These documents and the documents
  incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of this Form
  S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the
  Securities Act.
  PART II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3. Incorporation of Documents by Reference.
  The Company incorporates by reference into this Registration Statement the following
  documents:
  1.
  The Company's Annual Report on Form 10-K for the fiscal year ended December 31,
  2008 filed with the Commission on February 24, 2009.
  2.
  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 Annual Report on Form 10-K referred to in (a) above,
  3.
  The description of the Company's common stock contained in the Company's
  Registration Statement on Form 8-A (File No. 1-10466), filed with the Commission on
  March 16, 1990, pursuant to Section 12 of the Securities Exchange Act, together with
  amendments thereto.
  All documents filed pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after
  the date of this Registration Statement and prior to the filing of a post-effective amendment which
  indicates that all securities offered hereby have been sold or which deregisters all securities
  then remaining unsold, shall be deemed to be incorporated by reference into this Registration
  Statement and to be a part hereof from the date of filing of such documents (but we do not
  incorporate by reference any documents that we furnish to, but that are not deemed filed with, the
  Commission).
  Any statement contained herein, or in a document all or a portion of which is incorporated or
  deemed to be incorporated by reference herein, shall be deemed to be modified or superseded for
  purposes of this Registration Statement to the extent that a statement contained herein or in any
  other subsequently filed document which also is or is deemed to be incorporated by reference herein
  modifies or supersedes such statement. Any such statement so modified or superseded shall not be
  deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
  Table of Contents
  Item 4. Description of Securities.
  Not Applicable.
  Item 5. Interests of Named Experts and Counsel.
  Certain legal matters in connection with the shares of common stock to which this Registration
  Statement relates have been passed upon by Christine M. Marx, General Counsel and Corporate
  Secretary of the Company. Ms. Marx owns securities of the Company.
  Item 6. Indemnification of Directors and Officers.
  The Company has the authority under Section 607.0850 of the Florida Business Corporation Act
  (the "FBCA") to indemnify its directors and officers to the extent provided in such statute. The
  provisions of the FBCA authorize a corporation to indemnify its officers and directors in
  connection with any proceeding brought against them if the person acted in good faith and in a
  manner which the person reasonably believed to be in, or not opposed to, the best interests of the
  corporation and, with respect to any criminal action, had no reasonable cause to believe the
  person's conduct was unlawful. Unless a determination is made by a court, the determination of
  whether a director, officer or employee has acted in accordance with the applicable standard of
  conduct must be made by (1) a majority vote of a quorum consisting of directors who were not
  parties to the proceeding or a committee consisting solely of two or more directors who were not
  parties to the proceeding, (2) independent legal counsel selected by a majority vote of a quorum
  consisting of directors who were not parties to the proceeding or committee of directors (or
  selected by the full board if a quorum or committee cannot be obtained), or (3) the affirmative
  vote of the majority of a quorum consisting of the corporation's shareholders who were not parties
  to the proceeding (or by a majority vote of the corporation's shareholders who were not parties to
  the proceeding if a quorum cannot be obtained).
  The FBCA further provides that a corporation may make any other or further indemnity by
  resolution, bylaw, agreement, vote of shareholder or disinterested directors or otherwise, except
  with respect to certain enumerated acts or omissions of such persons. Florida law prohibits
  indemnification or advancement of expenses if a judgment or other final adjudication establishes
  that the actions of a director, officer or employee constitute (1) a violation of criminal law,
  unless the person had reasonable cause to believe his conduct was lawful, (2) a transaction from
  which such person derived an improper personal benefit, (3) willful misconduct or conscious
  disregard for the best interests of the corporation in the case of a derivative action by a
  shareholder, or (4) in the case of a director, a circumstance under which a director would be
  liable for improper distributions under Section 607.0834 of the FBCA. The FBCA does not affect a
  director's responsibilities under any other law, such as federal securities laws.
  Article III, Section 8 of the Company's Amended and Restated Bylaws provides as follows with
  respect to the indemnification of our officers and directors:
  To the fullest extent permitted or required by the Florida Business Corporation Act (the
  "Act"), including any amendments thereto (but in the case of any such amendment, only to the
  extent such amendment permits or requires the Company to provide broader indemnification
  rights than prior to such amendment), the Company shall indemnify, and advance expenses
  incurred by, its Directors and officers, and any director and officer of another
  corporation, partnership, joint venture, trust or other enterprise serving at the request of
  the Company, whether or not then in office, and his or her executor, administrator and
  heirs, and may indemnify, and advance expenses incurred by, employees and agents of the
  Company, against all Liabilities (as defined in Section 607.0850 of the Act) incurred
  thereby in connection with any litigation, civil or
  Table of Contents
  administrative action, suit or proceeding, to which he or she may have been made a party or
  in which he or she is deposed or called to testify as a witness because he or she is or was
  a Director, officer, employee or agent of the Company or he or she is or was serving at the
  request of the Company as a director or officer of another corporation, partnership, joint
  venture, trust or other enterprise. No amendment or repeal of this Section 8 shall diminish
  the rights of indemnification provided for herein prior to such amendment or repeal.
  The Company has entered into indemnification agreements with each of its directors and
  officers in order to provide specific contractual assurance with respect to indemnification and
  expense advancement rights extended to such directors and officers under the Bylaw provisions
  described above. The indemnification agreement provides assurance that no future amendment to or
  revocation of the Bylaws will adversely affect any contractual right of a director or officer with
  respect to indemnification and expense advancement. The Company also maintains directors' and
  officers' liability insurance covering the directors and officers of the Company against claims
  arising out of the performance of their duties.
  Item 7. Exemption from Registration Claimed.
  Not Applicable.
  Item 8. Exhibits.
  Exhibit No.
  Description
  4.1
  Restated and Amended Articles of Incorporation, as amended (incorporated by
  reference to Exhibit 3.1 of the registrant's registration statement on Form S-3 (File
  333-116017)).
  4.2
  Amended and Restated Bylaws of the registrant (incorporated by reference to
  Exhibit 3 to the registrant's Current Report on Form 8-K dated December 14, 2004).
  5.1
  Opinion of Christine M. Marx, General Counsel and Corporate Secretary of the Company
  23.1
  Consent of KPMG LLP, independent registered public accounting firm.
  23.2
  Consent of Christine M. Marx, General Counsel and Corporate Secretary of the
  Company (included in Exhibit 5.1 to this Registration Statement)
  Item 9. Undertakings.
  (a) The undersigned registrant hereby undertakes:
  (1) To file, during any period in which offers or sales are being made, a post-effective
  amendment to this registration statement:
  (i) To include any prospectus required by Section 10(a)(3) of the Securities Act of
  1933;
  (ii) To reflect in the prospectus any facts or events arising after the effective date
  of the registration statement (or the most recent post-effective amendment thereof) which,
  individually or in the aggregate, represent a fundamental change in the information set
  forth in the registration statement. Notwithstanding the foregoing, any increase or
  decrease in volume of securities offered (if the total dollar value of securities offered
  would not exceed that which was registered) and any deviation from the low or high end of
  the estimated maximum offering range
  Table of Contents
  may be reflected in the form of prospectus filed with the Securities and Exchange
  Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price
  represent no more than a 20 percent change in the maximum aggregate offering price set forth
  in the "Calculation of Registration Fee" table in the effective registration statement;
  (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 (1)(i) and (1)(ii) above do not apply if the registration
  statement is on Form S-8, and the information required to be included in a post-effective
  amendment by those paragraphs is contained in reports filed with or furnished to the
  Commission by the registrant pursuant to Section 13 or Section 15(d) of the Securities
  Exchange Act of 1934 that are incorporated by reference in the registration statement.
  (2) That, for the purpose of determining any liability under the Securities Act of 1933,
  each such post-effective amendment shall be deemed to be a new registration statement relating
  to the securities offered herein, and the offering of such securities at that time shall be
  deemed to be the initial
  bona fide
  offering thereof.
  (3) To remove from registration by means of a post-effective amendment any of the
  securities being registered which remain unsold at the termination of the offering.
  (b) The undersigned registrant hereby undertakes that, for purposes of determining any
  liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant
  to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
  each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities
  Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
  deemed to be a new registration statement relating to the securities offered therein, and the
  offering of such securities at that time shall be deemed to be the initial
  bona fide
  offering
  thereof.
  (c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
  permitted to directors, officers and controlling persons of the registrant pursuant to the
  foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
  Securities and Exchange Commission such indemnification is against public policy as expressed in
  the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
  such liabilities (other than the payment by the registrant of expenses incurred or paid by a
  director, officer or controlling person of the registrant in the successful defense of any action,
  suit or proceeding) is asserted by such director, officer or controlling person in connection with
  the securities being registered, the registrant will, unless in the opinion of its counsel the
  matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
  question whether such indemnification by it is against public policy as expressed in the Act and
  will be governed by the final adjudication of such issue.
  Table of Contents
  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 Jacksonville, State of Florida, as of May 19, 2009.
  THE ST. JOE COMPANY
  By:
  /s/ Wm. Britton Greene
  Wm. Britton Greene
  President and Chief Executive Officer
  Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
  been signed by the following persons in the capacities indicated as of May 19, 2009:
  Signature
  Title
  /s/ Wm. Britton Greene
  President, Chief Executive Officer and Director
  Wm. Britton Greene
  (Principal
  Executive Officer)
  /s/ William S. McCalmont
  Executive Vice President and Chief
  William S. McCalmont
  Financial
  Officer (Principal Financial Officer)
  /s/ Janna L. Connolly
  Janna L. Connolly
  Janna L. Connolly
  Vice President, Controller and Chief
  Accounting Officer
  (Principal Accounting Officer)
  /s/ Michael L. Ainslie
  Director
  Michael L. Ainslie
  /s/ Hugh M. Durden
  Director
  Hugh M. Durden
  /s/ Thomas A. Fanning
  Director
  Thomas A. Fanning
  /s/ Adam W. Herbert, Jr.
  Director
  Adam W. Herbert, Jr.
  /s/ Delores M. Kesler
  Director
  Delores M. Kesler
  /s/ John S. Lord
  Director
  John S. Lord
  /s/ Walter L. Revell
  Director
  Walter L. Revell
  Table of Contents
  EXHIBIT INDEX
  Exhibit No.
  Description
  4.1
  Restated and Amended Articles of Incorporation, as amended (incorporated by
  reference to Exhibit 3.1 of the registrant's registration statement on Form S-3 (File
  333-116017)).
  4.2
  Amended and Restated Bylaws of the registrant (incorporated by reference to
  Exhibit 3 to the registrant's Current Report on Form 8-K dated December 14, 2004).
  5.1
  Opinion of Christine M. Marx, General Counsel and Corporate Secretary of the Company
  23.1
  Consent of KPMG LLP, independent registered public accounting firm.
  23.2
  Consent of Christine M. Marx, General Counsel and Corporate Secretary of the Company
  (included in Exhibit 5.1 to this Registration Statement)